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https://finance.yahoo.com/news/3-reasons-shopify-stock-won-205500621.html | 2019-04-04 20:55:00+00:00 | [] | Rick Munarriz, The Motley Fool | Motley Fool | http://www.fool.com/ | 3 Reasons Shopify Stock Won't Crash to $100 | A familiar bear is talking downShopify(NYSE: SHOP)again. Citron Research argues that Shopify stock should be marked down to $100 within a year. If the stock is trading above $200 in 12 months -- essentially where it is now -- Citron will donate $200,000 to the Robin Hood Foundation.
Citron has its reasons for knocking the fast-growing e-commerce provider, but it wouldn't be a surprise if Citron is out the equivalent of 1,000 shares of Shopify for the benefit of a charity next spring. As for Citron's price target of $100 on the stock with a year, let's go over some of the reasons Shopify is unlikely to be trading in the double digits a year from now.
Image source: Shopify.
It's been 18 months -- to the day -- sinceCitron first bashedthe Ottawa-based online platform for small merchants. Citron argued that the stock, which had closed at $116.81 a day earlier, was worth roughly half as much. A big difference is that Citron's price target was $60 back in the fall of 2017 and $100 today, largely because the shares have soared 76% since the first dis.
The original argument centered around the FTC inevitably cracking down on the aggressive marketing of Shopify by some of its affiliates and the likely inflated number of merchants on the platform. It has missed on both shots (for now, at least).
Citron Research has made a lot of smart calls in the past, but the noted worrywart just doesn't seem to have a firm grasp on the story, here.
Citron's latest case argues that Shopify has a lot of future rivals percolating, singling out moves at Weebly, Instagram, and even Mr. Softy as potential threats to its social commerce dominance. It also points to the recentfalling out with Mailchimp-- as the email marketing campaign manager will be ending its partnership with Shopify over updated terms of service that will kick in next month.
Some of these challengers could leave a dent in the business, but it's not as if Shopify was immune to rival platforms 18 months ago, or even a few years ago. The only real surprise here would be if everyone else just sat idly by and let Shopify's merchant base grow to its current platform hosting more than 800,000 digital storefronts.
Citron also argues that the growth is decelerating at Shopify despite its peak valuation: Shopify is now trading at an enterprise value of nearly 20 times trailing sales. That may seem high, but the multiple was well north of 20 a year and a half ago. Shopify's market cap may have nearly doubled in that time, but revenue has grown even faster. As for the deceleration, Shopify's revenue growth has slowed for 12 consecutive quarters. Citron missed when it called out the higher valuation 18 months ago when we were already halfway through this streak of deceleration. Put another way, the stock did just fine the last time that it was even more seemingly overvalued with decelerating top-line gains.
Let's not overlook the great job that Shopify is doing in defying the skeptics just as those same skeptics argue that it's defying gravity. Revenuesoared 54%in its latest quarter, comfortably ahead of the 41% to 46% that it was targeting earlier. Trailing revenue is now in the 10 figures. On the other end of the income statement, we're talking about beating Wall Street targets for adjusted earnings by at least 30% for the past five quarters.
Give Shopify a wall of worry. It knows how to climb.
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Rick Munarrizhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Shopify. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/amazons-jeff-bezos-finalizes-divorce-175307854.html | 2019-04-04 20:57:28+00:00 | null | null | Associated Press | https://apnews.com/ | Amazon's Jeff Bezos and wife MacKenzie finalize divorce | NEW YORK (AP) — Amazon said Thursday that founder and CEO Jeff Bezos has finalized his divorce with wife MacKenzie, who will end up with a stake in the online shopping giant worth more than $35 billion. In a tweet, MacKenzie Bezos said she is giving Jeff Bezos all her interest in The Washington Post, the newspaper that he bought in 2013, and Blue Origin, the space exploration company he founded. "I'm grateful for her support and for her kindness in this process," Jeff Bezos said in a tweet Thursday. "And am very much looking forward to our new relationship as friends and co-parents." The Bezoses, who have four children, first announced they were divorcing in January, just before the National Enquirer published a story that said Jeff Bezos was having an affair with a former TV host. He later accused the tabloid's publisher of threatening to publish explicit photos of him unless he stopped investigating how the Enquirer obtained private messages between himself and his lover. When the divorce is complete, which is expected to happen in about 90 days, MacKenzie Bezos will have a 4% stake in Amazon. Jeff Bezos, one of the world's richest people, will have a 12% stake in the company, valued at more than $108 billion on Thursday. He'll be Amazon's largest shareholder, and he'll also keep voting control of MacKenzie Bezos's shares, according to a filling with the Securities and Exchange Commission. The divorce ends a 25-year marriage that played a role in creating one of the world's most valuable companies. The Bezoses met in New York in the early 1990s while working at a hedge fund. They married just six months after they began dating, Jeff Bezos has said. Not long after that, he quit his job to start an online bookstore and the Bezoses took a cross-country road trip to Seattle, which was chosen for its high number of technology workers. While his wife did the driving, Jeff Bezos wrote a business plan. By 1995, Amazon was operating out of a garage, with MacKenzie Bezos helping out. Story continues Amazon has grown way beyond those humble beginnings. It now produces movies, runs the Whole Foods grocery chain and has become the leader in voice-activated speakers. The company has become so large that it plans to build a second headquarters in Arlington, Virginia. MacKenzie Bezos, a novelist, said in a tweet Thursday that she was "excited" about her future plans, but didn't say what they were. "Grateful for the past as I look forward to what comes next," she said in the tweet. ____ Follow Joseph Pisani at http://twitter.com/josephpisani |
https://finance.yahoo.com/news/explainer-ethiopia-crash-raises-questions-201554012.html | 2019-04-04 20:57:45+00:00 | null | null | Reuters | https://www.reuters.com/ | Explainer: Ethiopia crash raises questions over handling of faults on Boeing 737 MAX | By Jamie Freed SINGAPORE (Reuters) - Ethiopia's insistence that its pilots followed procedures when their Boeing Co 737 MAX nosedived before a deadly crash, and Boeing's recent declaration that a new software fix makes a "safe plane safer," have set the stage for a lengthy fight over the roles of technology and crew in recent 737 MAX crashes. After a deadly Lion Air crash in October, Boeing and the U.S. Federal Aviation Administration told airlines what to do in the event that an erroneous sensor reading fooled the jet into thinking it was in a stall and pushed the nose down. The Ethiopian Airlines pilots initially followed the advice to shut off the MCAS anti-stall system but later reversed the command counter to guidance at a time when they were travelling beyond maximum operating speeds, according to data contained in a preliminary report released on Thursday and experts on the jet. WHAT ARE THE PROPER PROCEDURES? If MCAS misfires, forcing the nose down in a manoeuvre similar to a condition that pilots know as runaway trim, pilots are supposed to hit two cut-out switches at the plane's centre console to turn off power to the electric trim system. Under normal circumstances, trim is used to keep an aircraft flying level, but the MCAS makes automated nose-down movements. Data from the Ethiopian Airlines flight indicates the aircraft was flying nose-heavy and not in a "neutral" attitude when pilots hit the stabilizer cutout switches to disable the MCAS system, the preliminary report showed. That would make the situation harder to manage, possibly accounting for their decision to turn the system back on. Boeing's checklist for pilots tells them to "control airplane pitch attitude manually with control column and main electric trim as needed" before hitting cut-out switches and turning to a rarely used manual wheel to keep the plane's nose in the proper position. It does not describe a specific trim setting for the pilots to achieve. Story continues WOULD THE PROCEDURES WORK? Experts are questioning whether the procedures outlined after the Lion Air crash were comprehensive enough to ensure pilots could recover from a real-life cockpit emergency with several distractions at a low altitude shortly after take-off rather than in a pre-planned simulator ride. A 737 MAX pilot said the resistance on the control yoke would be about four times normal and it could take a few dozen turns of the manual wheel to return the nose to the proper position, depending on the alignment when the switches were cut. The preliminary report indicates the pilots tried to move their wheels together but were unable to raise the nose much at all by doing so. "It appears the flight crew reactivated electric trim," former Boeing engineer Peter Lemme said. "But they only made a very small nose up adjustment - I would have expected them to immediately and without stopping move the stabilizer back into trim. The last MCAS command comes 5 seconds after their last manual trim command." WHY COULDN'T THEY RAISE THE NOSE MANUALLY? The proper response to MCAS emergencies, Leeham Co analyst Bjorn Fehrm said, is to correct the dangerous nose-down "trim" using electronic thumb switches, then turn off MCAS and trim manually with the wheel. But if the aircraft is going too fast, those electronic switches may not be effective, European regulators said in a 2016 memo. And failing to fully fix the trim before MCAS is deactivated can make it physically impossible for pilots to control the plane, Fehrm said. Under normal circumstances, trim is used to keep an aircraft flying level. At speeds up to 250 knots (288 mph) pilots can stabilise trim with the manual wheel. But when the speed rises towards 300 knots and higher, the wheel becomes impossible to turn as air rushing over control surfaces makes them harder to move, Fehrm said. At the time when both pilots were unable to move the wheel, they were travelling at over 340 knots, the maximum operating speed of the airplane and clacker alarms were sounding. By the end of the fatal flight they had reached 500 knots. WHY WAS THE ETHIOPIAN JET GOING SO FAST? The plane's engines were at 94 percent thrust on take-off and remained there for the rest of the flight. That is consistent with the pilots leaving the thrust setting in take-off mode throughout, aviation experts said. The 737's air data computer also uses angle-of-attack (AOA) information to adjust airspeed readings. If it mistakenly thinks the angle of attack is high, it can trigger pilot warnings that airspeed and altitude data are unreliable on one of the pilot's controls, according to former Boeing engineer Peter Lemme. That leads to an unreliable airspeed checklist which involves turning off the autothrottle as well as setting engine thrust to 75 percent. The runaway stabilizer checklist to shut off MCAS also says to turn off autothrottle. However, according to the flight data recorder, the pilots never reduced the thrust from 94 percent. "The report does not address information about unreliable airspeed procedures which should be considered because they had erratic airspeed," said Greg Feith, a former senior air safety investigator with the National Transportation Safety Board. (Reporting by Jamie Freed; additional reporting by Tim Hepher in Paris, Eric M. Johnson in Seattle and David Shepardson in Washington; Editing by Gerry Doyle and Alexandra Hudson) |
https://finance.yahoo.com/news/why-intelsat-stock-fell-35-205800454.html | 2019-04-04 20:58:00+00:00 | [] | Steve Symington, The Motley Fool | Motley Fool | http://www.fool.com/ | Why Intelsat Stock Fell 35% in March | Shares ofIntelsat(NYSE: I)declined 35% in March, according to data fromS&P Global Market Intelligence, amid concerns over government plans that could significantly hamper the company's ability to monetize its wireless spectrum assets.
To be sure, Intelsatlost nearly a quarterof its value between March 4 and March 5, 2019, alone, afterPoliticohighlighted a proposal for the government to potentially nationalize so-called 5G networks. What's more, separate reports from TheFly.com around the same time indicated that several U.S. Congress members were mulling over whether to prevent the FCC from allowing Intelsat and other foreign satellite companies to sell their access to 200 megahertz of C-band spectrum to wireless carriers.
IMAGE SOURCE: GETTY IMAGES.
Considering that spectrum sale could bring in much as $40 billion for the sellers -- its piece of which Intelsat would use to pay down debt -- it's hardly surprising the threat of U.S. government intervention might send investors scuttling for the exits.
Of course, that's not to say the salewon'thappen. But even then, it could be a while. Intelsat subsequentlyfell another 10%on March 21, 2019, after FCC Chairman Ajit Pai indicated the agency was taking its time to make a decision on moving the auction forward.
"[I]t's important for us to make the right decision," Pai added, "not theright nowdecision."
To that end, Intelsat shares are up around 8% today as of this writing after FCC Commissioner Michael O'Rielly offered an encouraging, if tempered, bit of optimism that the auction will happen eventually.
"Going forward, I will continue to pressure the FCC to get these frequencies into the hands of wireless providers as quickly as possible," O'Rielly stated. "But unfortunately, I have been informed that it may take until next year at the earliest to conduct an auction."
O'Rielly also added that, in the meantime, the 3.5 GHz spectrum should be available to wireless providers "shortly" under the general (unlicensed) access tier.
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Steve Symingtonhas 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. |
https://finance.yahoo.com/news/hedge-funds-think-equifax-inc-205825017.html | 2019-04-04 20:58:25+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Here’s What Hedge Funds Think About Equifax Inc. (EFX) | Like everyone else, elite investors make mistakes. Some of their top consensus picks, such as Amazon, Facebook and Alibaba, have not done well in Q4 due to various reasons. Nevertheless, the data show elite investors' consensus picks have done well on average over the long-term. The top 15 S&P 500 stocks among hedge funds at the end of September 2018 returned an average of 1% through March 15th whereas the S&P 500 Index ETF lost 2.2% during the same period. Because their consensus picks have done well, we pay attention to what elite funds think before doing extensive research on a stock. In this article, we take a closer look at Equifax Inc. (NYSE:EFX) from the perspective of those elite funds.
Equifax Inc. (NYSE:EFX)was in 22 hedge funds' portfolios at the end of the fourth quarter of 2018. EFX investors should be aware of a decrease in hedge fund sentiment of late. There were 35 hedge funds in our database with EFX positions at the end of the previous quarter. Our calculations also showed that EFX isn't among the30 most popular stocks among hedge funds.
Why do we pay any attention at all to hedge fund sentiment? Our research has shown that hedge funds' large-cap stock picks indeed failed to beat the market between 1999 and 2016. However, we were able to identify in advance a select group of hedge fund holdings that outperformed the market by 32 percentage points since May 2014 through March 12, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that'll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 27.5% through March 12, 2019. That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.
Let's analyze the latest hedge fund action encompassing Equifax Inc. (NYSE:EFX).
At the end of the fourth quarter, a total of 22 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -37% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards EFX over the last 14 quarters. With the smart money's capital changing hands, there exists a few notable hedge fund managers who were increasing their stakes meaningfully (or already accumulated large positions).
The largest stake in Equifax Inc. (NYSE:EFX) was held byCantillon Capital Management, which reported holding $225.5 million worth of stock at the end of September. It was followed by Farallon Capital with a $199.8 million position. Other investors bullish on the company included Adage Capital Management, Platinum Asset Management, and Eminence Capital.
Due to the fact that Equifax Inc. (NYSE:EFX) has experienced a decline in interest from the aggregate hedge fund industry, logic holds that there exists a select few hedgies that decided to sell off their entire stakes in the third quarter. Interestingly, Doug Silverman and Alexander Klabin'sSenator Investment Groupdumped the largest stake of the "upper crust" of funds tracked by Insider Monkey, valued at close to $280.7 million in stock, and Dmitry Balyasny's Balyasny Asset Management was right behind this move, as the fund dropped about $132.3 million worth. These transactions are interesting, as total hedge fund interest fell by 13 funds in the third quarter.
Let's now take a look at hedge fund activity in other stocks - not necessarily in the same industry as Equifax Inc. (NYSE:EFX) but similarly valued. These stocks are Copart, Inc. (NASDAQ:CPRT), Textron Inc. (NYSE:TXT), E*TRADE Financial Corporation (NASDAQ:ETFC), and Comerica Incorporated (NYSE:CMA). All of these stocks' market caps resemble EFX's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position CPRT,28,273006,-3 TXT,28,580784,2 ETFC,41,1261771,5 CMA,36,743200,-1 Average,33.25,714690,0.75 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 33.25 hedge funds with bullish positions and the average amount invested in these stocks was $715 million. That figure was $785 million in EFX's case. E*TRADE Financial Corporation (NASDAQ:ETFC) is the most popular stock in this table. On the other hand Copart, Inc. (NASDAQ:CPRT) is the least popular one with only 28 bullish hedge fund positions. Compared to these stocks Equifax Inc. (NYSE:EFX) is even less popular than CPRT. Considering that hedge funds aren't fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn't behind this stock. This isn't necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Hedge funds were also right about betting on EFX, though not to the same extent, as the stock returned 19.6% and outperformed the market as well.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/black-panther-goes-tentpole-cultural-205941543.html | 2019-04-04 20:59:41+00:00 | null | null | Deadline | http://www.deadline.com | ‘Black Panther’ Goes From Tentpole To Cultural Milestone: No. 2 In 2018 Most Valuable Blockbuster Tournament | When it comes to evaluating the financial performance of top movies, it isn’t about what a film grosses at the box office. The true tale is told when production budgets, P&A, talent participations and other costs collide with box office grosses and ancillary revenues from VOD to DVD and TV. To get close to that mysterious end of the equation, Deadline is repeating our Most Valuable Blockbuster tournament for 2018 , using data culled by seasoned and trusted sources. THE FILM Related stories 'Incredibles 2' Soars: No. 3 In 2018 Most Valuable Blockbuster Tournament Following the the embarrassment of #OscarsSoWhite four years ago, Black Panther incentivized the film industry beyond wishes, opening the doors to more inclusive storytelling while further demonstrating there’s a strong business in four-quad tentpoles featuring actors of color. T’Challa aka Black Panther was a deeper Marvel Universe character and was introduced in 2016’s Captain America: Civil War alongside the fractured Avengers. With Disney and Marvel ’s full might, emerging superstar director Ryan Coogler, a cast of the best and brightest black actors, and the best reviews of any Marvel superhero movie fueling it, Black Panther became a cultural milestone at the global box office as well as the Oscars, with seven nominations including Best Picture and three wins for original score, production design and costume design. Many African American movies do not mirror their domestic performance overseas, but Black Panther drew a nearly equal result abroad at $646.8 million to its $700 million U.S./Canada ticket sales. Black Panther may have notched the sixth-best opening weekend of all time with $202M at the domestic box office, but in regards to its four-day launch over the Presidents Day weekend it is third with $242.1M behind Star Wars: The Force Awakens ($288M) and Avengers: Infinity War ($282.4M). Black Panther is the third highest-grossing film of all time at the domestic B.O. after Force Awakens ($936.6M) and Avatar ($760.5M). Worldwide, the pic grossed $1.34B. Story continues THE BOX SCORE Here are the costs and revenues as our experts see them: THE BOTTOM LINE Between global film rentals, TV revenues and streaming, and DVD video revenues, Black Panther earns close to a $1 billion. Subtracted from that is slightly more than a half billion in costs including P&A, global video, interest and $45M of participations. This puts Black Panther ‘s net profit at $476.8M, an amount that surpasses last year’s No. 1 profit winner in our B.O. tournament, Star Wars: The Last Jedi ($417.5M). Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . |
https://finance.yahoo.com/news/beyonce-partners-adidas-latest-celebrity-210000570.html | 2019-04-04 21:00:00+00:00 | [] | Motley Fool Staff, The Motley Fool | Motley Fool | http://www.fool.com/ | Beyonce Partners With Adidas As Its Latest Celebrity Collaborator | Adidas(NASDAQOTH: ADDYY)will collaborate with pop star Beyonce Knowles in an exclusive partnership, a move the athletic brand is betting will pay off with younger consumers.
The decision, announced on Thursday, makes Beyonce the brand's most recent celebrity collaborator, which adidas calls its "creative partners." Other celebrities who work with the sneaker company include rapper Kanye West, designer Alexander Wang, and actor and musician Donald Glover.
Beyonce will design her own line of sneakers and clothing for adidas, as well as revitalize her streetwear brand Ivy Park, which was founded in 2016.
Image Source: adidas
Adidas' decision to partner with Beyonce is perhaps one of the brand's most deliberate attempts at gaining market relevance. The company's multi-season Yeezy collaboration with West became a social media sensation, and the brand is now estimated to be worth around $1.5 billion. But Beyonce brings even more global exposure to the German brand in the ever-competitive world of athleisure.
Beyonce boasts a mammoth following social media -- she has the eighth-most-popular Instagram account, with over 126 million followers -- and is one of three female vocalists to have 20 or more No. 1 hits in their career. She has only toured seven times but routinely sells seats out in seconds. In 2016, when she released her most recent album, "Lemonade," Beyonce became the highest-paid musician but over 90% of her income came from touring -- not album sales.
Adidas likely recognized Beyonce's international appeal and showmanship: People like to listen to Beyonce, but they'llpayto see her. Imagine what they'll do when they can pay to start dressing like her.
"This is the partnership of a lifetime for me," Beyonce said in a statement. "adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business."
Ivy Park, the star's streetwear brand, was originally a collaboration with Topshop billionaire Phillip Green. Beyonce bought out his 50% stake in the company late last year after allegations of sexual harassment and racial discrimination surfaced. The singer was applauded for her decision to take over 100% of the company, which she will be "relaunching and expanding" globally with help from adidas.
Celebrity partnerships in the sneaker world have long been the norm, with the most notable example being Nike's(NYSE: NKE)collaboration with basketball legend Michael Jordan. That partnership, which began in the 1980s, remains the gold standard for celebrity athlete collaborations. But adidas is catching up.
adidas brought in $21 billion in revenue in the 2018 fiscal year, compared to Nike's $34.5 billion, on a constant currency basis. Yeezy revenue figures aren't publicly available, however it was only in 2017 that adidas -- the entire company -- doubled its footwear sales, reaching 13% to become the second-most popular athletic shoe choice in the United States and overtake Jordan. Jordan's popularity shed a third of its sales during the same period.
At the end of 2018, the combination of Nike, Jordan, and Converse enjoy approximately 44% of the market share whereas adidas comes in at number two, with 17%. But given Beyonce's immense popularity, and her already baked-in Ivy Park collection, her collaboration will almost certainly help to bolster adidas' overall presence.
Nike took a stand in its collaboration with former NFL quarterback and social activist Colin Kaepernick with a divisive advertising campaign that ran in late 2018. Adidas, however, watched from the sidelines and, in some cases, actively avoided wading into controversy.
For example, when West caused a social media firestorm after declaring his support for President Trump, adidas CEO Kasper Rorsted reiterated his support for the rapper, saying he doesn't "sign up" for West's political commentary but stands behind his "extremely successful" partnership.
Yet with Nike enjoying a jolt of buzz, increased support from ayounger customer baseempathetic to social causes, andstrong quarterly earningsthat followed, it's possible adidas wants a piece of the pie. Just last month, the company rolled out a campaign to push for female equality and visibility in sports.
A collaboration with millennial-favorite Beyonce may firmly place adidas into the category of a lifestyle brand that so many apparel companies now strive to market themselves as. It's too early to tell what's in store for the partnership, but in a statement, the singer declared that she plans to curate a "unique purpose-driven program focused on empowering and enabling the next generation of athletes, creators and leaders."
Surely adidas will be selling more than just a sneaker.
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TMFJenaGhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nike. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/story-patricia-arquette-nicolas-cage-210000859.html | 2019-04-04 21:00:00+00:00 | null | null | InStyle | https://www.instyle.com/ | The Story of Patricia Arquette and Nicolas Cage’s Relationship Is the Weirdest Thing You’ll Ever Read | Who: Oscar and SAG Award-winning actor Nicolas Cage, 55, and Oscar, Emmy, and SAG Award-winning actress Patricia Arquette, 50. Ron Galella, Ltd./Getty Images How They Met: It’s a funny story — no, I mean it. In the late ‘80s, Arquette ran into Cage and Crispin Glover at Canter’s deli in L.A. and they both told the then-19-year-old actress that they were going to marry her. Cool, yeah, same. But Nic, 5 years her senior, was apparently more committed than Crispin, and asked Patricia to provide a list of things (“like a quest”) for him to find and bring her in order to prove his worthiness as a spouse. The Medium star played along, offering a list of seemingly impossible finds that included J.D. Salinger’s autograph (he issued notoriously few signatures throughout his career), a black orchid (which doesn’t actually exist), a Lisu tribe wedding costume, and a Bob’s Big Boy statue. RELATED: TBT: Alanis Morissette Hit “Rock Bottom” When She and Ryan Reynolds Called Off Their Engagement “She wouldn’t come out, but I could see her peeking down from the top floor. In my very showy way, I whipped the orchid out of my pocket. Then I whipped out the paint can and started spray-painting the orchid black. She was freaked out. I rang the doorbell again and she came down. I just gave it to her and got back on my motorcycle and left,” he told Playboy in ’96. Next Cage found a rare letter written by Salinger, bought it for $2,500 and again showed up at Arquette’s home bearing gifts. “She was playing hopscotch in the street with her girlfriends” when Cage arrived. He dropped the autograph in a cigar box outside and left. Later, she called him in a tizzy and told him to stop. “It scared me,” she later explained. Cage said he had a chainsaw ready and was prepared to steal a Bob’s Big Boy statue for her when she agreed — not to marry, but to go away with him. RELATED: TBT: Why Does Jake Gyllenhaal Always Stare at His Girlfriends While They're Eating? Flash-forward: the year is 1995, the place that same L.A. deli in which Cage’s quest for Arquette’s hand was outlined. The actors run into each other again. "I needed to be reassured that the depth of his love would be as brave as before," Arquette told the New York Times of reevaluating their connection nearly a decade later. Apparently it was, and they wed atop a cliff in Carmel, Calif. two weeks after their chance encounter. Story continues Vinnie Zuffante/Getty Images Why We Loved Them: The only witnesses to their nuptials were Carmel’s former police chief and “a pod of sea otters.” If that sentence doesn’t encapsulate the bizarre bent of Hollywood in the ‘90s, I don’t know what would. RELATED: TBT: Cameron Diaz and Alex Rodriguez Nearly Broke the Internet with This 2011 Photo When They Peaked: When they wed in ’95, it was Arquette that proposed — and we’re not talking rose petals and sandy walks along the beach . No, Patricia popped the question at Nic’s house, where she arrived “dressed head to toe in black vinyl, carrying a big purple wedding cake.” Luckily, this was the moment the National Treasure star realized “I was with the right woman.” This was also the moment we realized we’re unworthy of this blessed union. Ron Wolfson/Getty Images The Breakup: The true trajectory of Cage and Arquette’s marriage is somewhat unclear. It was reported that the pair separated nine months after marrying and spent years filing and withdrawing divorce papers before citing “irreconcilable differences” in their ultimate 2000 split. Arquette, however, says the rumors of their early separation were untrue. “There were times when we weren’t living together because we were fighting, but it wasn’t as reported and I didn’t feel that I needed to explain that,” she told The Telegraph in 2015. “There were times when my mom was dying [from breast cancer in 1997] and I was living with her, taking care of her. There were times when he was away working on a movie. It was our thing. I still don’t feel like I owe it to anyone. It’s funny when people are so wrong, and they put you in this position and decide who you are.” RELATED: TBT: Remember When Michael Sheen Punched Kate Beckinsale's Co-Star? "It's always hard to make that decision to get divorced," she told Paper Magazine in 2002. "We've both moved on with our lives, and I think it's important to honor the people we're with now, and concentrate on the future." Though their union reportedly found a “mutual and respectful” end, Cage admitted in 2018 that he and Arquette hadn’t spoken “in a long time.” Ron Galella, Ltd./Getty Images Where They Are Now: In the years since the dissolution of their marriage, Cage has starred in ~approximately~ 6,000 films and earned 8 Razzie nominations. Soon after splitting from Arquette, he began dating Lisa Marie Presley, whom he wed in 2002 and filed for divorce from less than four months later. In 2004 he married Alice Kim, with whom he shares son Kal-El. They split in early 2016. Just last week, Cage filed for annulment from his makeup artist wife of four days, Erika Koike, claiming he was too drunk at the time to understand what was happening. RELATED: TBT: Kiefer Sutherland Is Thankful Julia Roberts Called Off Their Engagement Arquette’s star has risen exponentially in the past 15 years. After seven seasons leading NBC drama Medium (for which she won an Emmy in 2005), she returned to film and picked up an Oscar for her performance in Richard Linklater’s decades-spanning tome Boyhood . Arquette recently won a Golden Globe and SAG Award for her performance in Showtime’s Escape at Dannemora , and she’s currently starring in Hulu’s true crime series The Act . Patricia welcomed daughter Harlow with actor Thomas Jane in 2003 — they wed three years later and Arquette filed for divorce in early 2009. She’s been linked to painter Eric White since 2014. View this post on Instagram Thank you @csiriano @stephenwebsterjewellery @rogervivier for helping me support @givelove_org and their work in teaching and promoting ecological sanitation and composting. And to @annabelleharron @tarasmithofficial @e_whitey and @doradberad for bringing us all together at #SAGawards for an important cause! #doradberad @sagaftra A post shared by Patricia Arquette (@patriciaarquette) on Jan 27, 2019 at 3:37pm PST |
https://finance.yahoo.com/news/3-stocks-avoid-plague-210000369.html | 2019-04-04 21:00:00+00:00 | [] | Timothy Green, The Motley Fool | Motley Fool | http://www.fool.com/ | 3 Stocks to Avoid Like the Plague | Buying winning stocks is a path to beating the market, but it's also important to avoid losing stocks. Buying shares of a company only to see them permanently lose 70%, 80%, or even 90% of their value is tough to bear, and it won't do your portfolio any favors.
Sometimes good stocks transform into bad stocks, catching investors off guard. But in other cases, it's clear as day that a stock should be avoided. Here's why investors should steer clear of ridesharing companyLyft(NASDAQ: LYFT), department storeJ.C. Penney(NYSE: JCP), and meal-kit providerBlue Apron(NYSE: APRN).
Image source: Getty Images.
With Lyft's IPO last month, investing in a U.S. ridesharing company is now an option for investors. Ridesharing is a fast-growing industry for sure -- Lyft's revenue more than doubled last year. That epic growth is the reason Lyft is valued at roughly $20 billion, or nearly 10 times its annual revenue.
But what investors are ultimately buying is empty revenue. Lyft is not even in the ballpark of being profitable, losing close to $1 billion in 2018. It drives growth and battles rival Uber by doling out rider and driver incentives. The company has successfully gained market share over the past few years, but at great cost.
Is there any hope Lyft will eventually produce meaningful profits? I doubt it. The company provides a commodity service with minimal switching costs for riders and drivers, has little pricing power, doesn't benefit from a broad network effect, competes with a deep-pocketed rival, and is banking on autonomous cars tosomehow provide it a with competitive advantagein the future. Good luck with all that.
And don't forget about the regulatory risk associated with Lyft's dependence on contract workers. The company's entire business model could be derailed if it has to start classifying drivers as employees.
Lyft is the most exciting IPO so far this year, and some investors will be drawn to its growth prospects. But it's just not a good business.
It can be tempting to bet on the underdog. Sometimes, companies in dire straits can turn themselves around and make miraculous comebacks that are highly lucrative for investors.
But comebacks are very hard to pull off in the retail business. For most retailers, their brand is their only meaningful edge. Once the brand is dead in the eyes of consumers, there's no coming back.
J.C. Penney has been trying to turn itself around ever since its ill-fated attempt to transform itself back in 2012. Sales plunged as the department store lost previously loyal customers, and they never recovered. The company tried various things, like selling major appliances, but nothing has really worked. That appliance effort has now been abandoned.
Image source: J.C. Penney.
J.C. Penney has some new management, and the company is reducing its bloated inventory and selling off some assets.That's helping the cash flow situation, but it's ultimately a band-aid on a deep wound. Comparable sales dropped 3.1% in 2018, and the company posted a $255 million net loss on $11.7 billion of revenue. Free cash flow was positive, but only because of asset sales. J.C. Penney is sitting on around $4 billion of debt, and it's paying more than $300 million annually in interest.
How does J.C. Penney come back from this? I have no idea. It's facing better-run department stores, online retailers, specialty apparel sellers, and discount stores likeTargetthat have been rolling out a bunch of private-label clothing lines, all against the backdrop of an upheaval in the retail industry that's already claimed iconic retailers like Sears and Toys R Us.
With J.C. Penney doing so poorly now, thenext recession could be the company's death knell. Absolutely everything must go right for J.C. Penney to survive. There's no real reason to believe the odds of that are much higher than zero.
What if, instead of buying inexpensive groceries at the store, you paid restaurant prices to have ingredients mailed to you? That's Blue Apron in a nutshell. The meal-kit company has been hemorrhaging both customers and cash, becauseits business model makes little sense.
Blue Apron had 557,000 customers at the end of 2018, down from over 1 million customers soon after its IPO in 2017. Those customer losses were despite heavy marketing spending. The company hasn't had much trouble getting people to try its service -- discounts on the first few orders are standard fare in the meal-kit industry. Butgetting people to stick with it has been a big problem.
Blue Apron got a new CEO earlier this month, and it reiterated its guidance to be profitable on an adjustedEBITDAbasis in 2019. Let metranslate that guidance: Blue Apron is going to lose money on every basis that means anything, but if you back out a bunch of real costs of doing business, the company will be able to report a positive number.
Short of a wholesale change in business model, there doesn't seem to be much hope for Blue Apron. Maybe the new CEO will come up with a bold turnaround plan, but the odds are heavily stacked against the company.
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Timothy Greenhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/macmahon-holdings-limited-asx-mah-210300339.html | 2019-04-04 21:03:00+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Macmahon Holdings Limited (ASX:MAH) Has Attractive Fundamentals | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
Macmahon Holdings Limited (ASX:MAH) is a company with exceptional fundamental characteristics. Upon building up an investment case for a stock, we should look at various aspects. In the case of MAH, it is a financially-robust company with a a strong track record of performance, trading at a discount. Below, I've touched on some key aspects you should know on a high level. For those interested in digger a bit deeper into my commentary, take a look at thereport on Macmahon Holdings here.
MAH delivered a triple-digit bottom-line expansion over the past couple of years, with its most recent earnings level surpassing its average level over the last five years. Not only did MAH outperformed its past performance, its growth also surpassed the Metals and Mining industry expansion, which generated a 14% earnings growth. This is an optimistic signal for the future. MAH is financially robust, with ample cash on hand and short-term investments to meet upcoming liabilities. This indicates that MAH has sufficient cash flows and proper cash management in place, which is an important determinant of the company’s health. MAH appears to have made good use of debt, producing operating cash levels of 0.63x total debt in the prior year. This is a strong indication that debt is reasonably met with cash generated.
MAH's shares are now trading at a price below its true value based on its PE ratio of 10.25x, compared to the industry and wider stock market ratio, making it a relatively cheap stock compared to its peers.
For Macmahon Holdings, I've compiled three pertinent factors you should look at:
1. Future Outlook: What are well-informed industry analysts predicting for MAH’s future growth? Take a look at ourfree research report of analyst consensusfor MAH’s outlook.
2. Dividend Income vs Capital Gains: Does MAH return gains to shareholders through reinvesting in itself and growing earnings, or redistribute a decent portion of earnings as dividends? Ourhistorical dividend yield visualizationquickly tells you what your can expect from MAH as an investment.
3. Other Attractive Alternatives: Are there other well-rounded stocks you could be holding instead of MAH? Exploreour interactive list of stocks with large potentialto 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 [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. |
https://finance.yahoo.com/news/home-loans-guide-mortgages-types-210314388.html | 2019-04-04 21:03:14+00:00 | [] | Allyson Brooks | Benzinga | http://www.benzinga.com/ | Home Loans: A Guide To Mortgages, Types Of Home Improvement Loans | Loans are a means of funding projects or expenses that borrowers can't afford upfront.
By paying back the lump sum through a series of payments with interest, loans can set borrowers up for success in their personal or professional lives when used correctly. They're used to pay for academic classes, properties, repairs, cars, vacations and much more.
Benzinga is focusing on the types of loans that are available for homes. Whether a borrower is looking to finance a home purchase or unleash their innerBed Bath & Beyond(NASDAQ:BBBY) stylist with renovations, loans can play an integral role in procuring enough money to make big decisions and changes.
1. Mortgage Loan
In its most basic form,according to the Consumer Financial Protection Bureau(CFPB), a mortgage for a home is represented by a resident seeking the loan to help them purchase their house, “pledging” the property to a bank. The bank then allows the resident to make payments on the property with interest in order to pay back the debt. Once payments are complete, the resident fully owns their home.
If the resident defaults on their payment, or stops paying the bank, the bank can foreclose on the property and sell it in order to make back the loan value.
Loans for residential properties come in the form of both fixed-rate and adjustable-rate mortgages,according to the Federal Deposit Insurance Corporation.Fixed-rate, like the name suggests, is a consistent interest rate for the entire duration of payments. These loans typically have a lifespan of up to 30 years and protect against interest rate fluctuation in the market.
Adjustable-rate mortgages start at a fixed-rate and adapt to the market interest rate after a period of time. This unpredictability could cause future payments to be less, if the interest rate drops, but could also be subject to a rise in interest rates, which may make payments too high for the resident to make.
2. Home Improvement Loans
Besides the obvious benefit of an improved living environment, investing in the upkeep and improvement of a home can increase the market value with an eye toward a future sale.Home improvement loanscome in three primary forms for the financing of such projects.
Home Equity Loans
Home equity loans essentially work like a second mortgage. They are typically used by borrowers who have a lot of equity in their home — meaning they've been paying their mortgage for years — and are undertaking larger projects.
The maximum possible loan amount is typically found by taking 85 percent of the value of a home and subtracting what is still owed on the first mortgage. However, it differs from lender to lender,according to Rocket Mortgage.
The amount is paid back over a longer period of time at a fixed rate. This option is best for larger projects, as it makes a larger loan possible and, since the pay period is longer, the borrower won't be paying off small renovations years into the future.
Personal Loans
A personal loan is an unsecured loan, meaning that it's not backed by home equity as with the first option.
The amount available is based on certain factors like credit scores. The bank then determines the loan amount. The pay period for personal loans is shorter, and amounts typically range from $1,000-$10,000. This type of loan is great for smaller projects and for residents who have very little home equity to draw from.
Home Equity Line of Credit (HELOC)
The CFPB also reportsthat a home equity line of credit works very similarly to a home equity loan. The amount that can be obtained, which is typically larger than a personal loan, is based on the available equity.
With a HELOC, the interest rates are typically not at a fixed rate, and the full amount that can be borrowed is not paid out as a lump sum.
Residents working on improvements can draw from the available loan numerous times during their project instead of simply starting with the full loan.
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
https://finance.yahoo.com/news/worried-about-possible-ncaa-violations-virginias-kyle-guy-took-down-his-wedding-registry-210348169.html | 2019-04-04 21:03:48+00:00 | null | null | Yahoo Sports | https://sports.yahoo.com/ | Virginia guard: NCAA said my wedding registry was 'illegal' | You can never be too safe when it comes to NCAA rules. Even when it involves wedding gifts. When meeting with reporters in Minneapolis on Thursday ahead of his team’s Final Four game on Saturday, Virginia guard Kyle Guy divulged that he and his fiancee had to take their wedding registry down because it may have been violating NCAA rules. “That was crazy to me that that’s illegal because that’s what a registry is for,” Guy said. “The NCAA said it was illegal so I’m not going to argue with it.” Virginia's Kyle Guy and his fiancee can't start their wedding registry because NCAA. pic.twitter.com/kuFB3O8A0f — USA TODAY Sports (@usatodaysports) April 4, 2019 You see, with Guy playing a key role in the Cavaliers’ march through the NCAA tournament, the website Busted Coverage ran a post on the registry, apparently encouraging fans to buy gifts for the couple’s future. That caught the attention of Virginia’s compliance department as a potential violation of the rules as they relate to “extra benefits” for student-athletes. The post soon came down at the request of UVA’s compliance folks , and Guy’s registry was made private. He and his fiancee, Alexa Jenkins, must have received a top of the line silverware set or something. The NCAA wins again. I was forced by the University of Virginia to remove a post on Kyle Guy’s wedding registry. — Busted Coverage (@bustedcoverage) April 4, 2019 As Jenkins wrote in a since-deleted tweet, making the registry private pretty much “defeats the purpose” of a wedding registry — which is, you know, to buy gifts for the couple. It’s tough to do that without an accessible registry. “NCAA compliance said it was a violation so I had to make it to where only I can see it,” Jenkins’ tweet said. Story continues But it wasn’t “NCAA” compliance. It was actually Virginia. In a statement to Yahoo Sports, Virginia assistant athletic director for public relations Erich Bacher explained the school’s thought process. It was all an effort to make sure Guy did not have any eligibility issues. “Once we were informed about Kyle and Alexa’s wedding registry being online and publicized by a media entity, our Compliance Office instructed Kyle to make the wedding registry private to help ensure there would be no issues with his eligibility,” Bacher told Yahoo Sports via email. “Since that time the UVA Compliance Office has been in communication with the NCAA and while neither the NCAA nor UVA desire to interrupt typical gift giving practices, we will attempt to ensure that student-athletes are not receiving benefits that would violate NCAA rules. We appreciate the NCAA staff and its prompt assistance in handling this matter.” The NCAA responds: ‘Inaccurate story’ As Guy’s comments quickly made their way around the internet, a reporter asked NCAA president Mark Emmert, who was on hand in Minneapolis, about the situation. He disputed Guy’s version and said receiving wedding gifts is not against NCAA rules. “What we know right now is that nobody in the NCAA said anything of the sort. We don't know what the source of that information was, whether it came from the institution or not. It's certainly not the case that that's a violation of NCAA rules,” Emmert said. “We allow people to have all the usual and accustomed gifts among families and friends at all holidays and weddings of the sort. There's not a prohibition against that. We've been reaching back out already to the university to try to find out what transpired there. That's simply an inaccurate story.” Later on, the NCAA followed up with a statement. “As NCAA President Mark Emmert stated in the Men’s Final Four press conference today, this is ‘simply an inaccurate story.’ Typical wedding gifts from family and friends are not violations,” the statement said . The key word there is “typical.” If a few overzealous fans were buying the couple gifts, would that fall under the NCAA’s purview of a “typical” gift from “family and friends?” Virginia’s compliance department made the decision to use an abundance of caution to ensure there would be no problem’s with Guy’s eligibility. With the basketball team playing in just its third Final Four in program history, it would be a crushing blow if one of the team’s best players was ruled ineligible. But the fact that anybody would even worry about wedding gifts possibly being against the rules reflects the absurdity of some NCAA rules to begin with. Better safe than sorry. Virginia's Kyle Guy scored 25 points in the Elite Eight. (AP Photo/Michael Conroy) More from Yahoo Sports: U.S. Senator 'appalled' by handling of figure skating scandal Kelly Stafford, wife of QB, announces she has brain tumor Popovich gets ejected before Spurs put points on the board Kraft lawyers say police planted cameras under fake bomb threat guise |
https://finance.yahoo.com/news/nobel-prize-laureate-malala-yousafzai-210353792.html | 2019-04-04 21:03:53+00:00 | null | null | Variety | http://variety.com | Nobel Prize Laureate Malala Yousafzai Signs With UTA | United Talent Agency ( UTA ) announced Thursday that it will represent Malala Yousafzai and her father, Ziauddin Yousafzai. When I started my fight for girls at 11 years old, working with media and public speaking were key to building support for my efforts. I look forward to working with UTA to develop creative ways to amplify the voices of the next generation of girls and young women, said Malala Yousafzai in a statement. Related stories 'Vida,' 'Defenders,' 'SWAT' Showrunners Talk Diversity Programs, Challenges to Inclusion at UTA Summit WGA Members Vote to Tighten Talent Agency Rules At 11, Yousafzai became an anonymous blogger for the BBC, writing about life under the Taliban in Pakistans Swat Valley. At 15, a Taliban member shot her in the head. In 2013, she and her father founded the Malala Fund to champion every girls right to 12 years of free, safe, quality education. Malala Yousafzai earned the Nobel Peace Prize for her advocacy for girls access to education, making her the youngest-ever Nobel laureate at 17. The father and daughter duo will be represented by UTAs newly formed culture and leadership division, led by Darnell Strom. To achieve gender equality, we need support from women and men, leaders in every sector. Darnell understands this, and I am excited to continue working with him at UTA, said Ziauddin Yousafzai. Before co-founding the Malala Fund , he was a teacher and school administrator in Pakistan for many years. In 2018, he wrote his autobiography, Let Her Fly. Malala is the author of three books: I Am Malala, Malalas Magic Pencil, and We Are Displaced. She is also the subject of the award-winning documentary He Named Me Malala. Malala is currently pursuing a degree in philosophy, politics and economics at Oxford University. Sign up for Varietys Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . View comments |
https://finance.yahoo.com/news/tesla-office-depot-tumble-while-210545822.html | 2019-04-04 21:05:45+00:00 | null | null | Associated Press | https://apnews.com/ | Tesla, Office Depot tumble while Constellation Brands rises | NEW YORK (AP) -- Stocks that moved substantially or traded heavily on Thursday: Tesla Inc., down $24.03 to $267.78 The electric car maker's assembly lines slowed and deliveries fell during its first quarter. Resources Connection Inc., down $2.64 to $14.71 The consulting company's fiscal third-quarter profit and revenue fell short of Wall Street forecasts. Constellation Brands Inc., up $11.76 to $191.45 The wine, liquor and beer company beat Wall Street's fourth quarter forecasts and will sell about 30 of its cheaper wine brands. PG&E Corp., up 39 cents to $18.86 The troubled utility company is shuffling its board of directors and named William Johnson its new CEO. Office Depot Inc., down 89 cents to $2.88 The office supplies retailer warned investors that its first-quarter revenue will fall short of forecasts. Red Robin Gourmet Burgers Inc., down 74 cents to $27.48 The CEO of the casual restaurant chain stepped down and a key sales measure fell more sharply than expected during the first quarter. RPM International Inc., up $1.20 to $60.63 The specialty chemicals company reported a jump in third-quarter sales that pushed its profit beyond Wall Street forecasts. At Home Group Inc., up $1.51 to $20.50 The home decorations retailer could be considering a potential sale of the company, according to media reports. |
https://finance.yahoo.com/news/yes-dress-star-lori-allen-210731337.html | 2019-04-04 21:07:31+00:00 | [] | Jennifer Kline | AOL.com | https://www.aol.com/ | 'Say Yes to the Dress' star Lori Allen suffers serious injuries after tripping over wedding gown: 'She is in a lot of pain' | Lori Allen, the bridal shop owner who's starred on TLC's "Say Yes to the Dress: Atlanta" for nine seasons, is recovering from serious injuries while filming an episode on Wednesday.
Allen tripped on the train of a wedding gown and suffered a brutal fall, her family explained in a statement, adding that the "extent of her injuries is not yet fully known." Her "Say Yes to the Dress" co-star, Monte Durham, son Cory, and the show's film crew quickly sprang into action to get help, and she was taken to an area hospital.
Her right wrist is broken, and her right arm and left wrist may be as well, the family said.
"Thankfully, her neck is not broken, just very sore," the statement continues. "She will more than likely need surgery on her right wrist. Right now, she is banged up and swollen, so we'll know more after further evaluation by a specialist on Monday."
"You all know Lori from TV and public appearances, and she is just the same in person," a separate official statement read. "Lori is a selfless, generous, and devoted wife, mother, and boss."
Viewers already know Allen is a tough cookie: She's spoken out about her battle with breast cancer, a diagnosis she received in 2012. In 2018, she marked four years being cancer-free.
RELATED: Gorgeous spring 2019 bridal gowns |
https://finance.yahoo.com/news/wall-street-opens-flat-growth-135513577.html | 2019-04-04 21:07:38+00:00 | null | null | Reuters | https://www.reuters.com/ | S&P 500, Dow advance with trade talks in focus | By April Joyner NEW YORK (Reuters) - The benchmark S&P 500 stock index edged higher, nearing a six-month high on Thursday, with losses in technology stocks countered by gains in Boeing Co and Facebook Inc as investors waited for more clarity on the U.S.-China trade talks. Negotiations continued in Washington after meetings last week in Beijing, as the two countries worked toward resolving their long-standing trade dispute, which has cast a shadow over global economic growth. U.S. President Donald Trump is set to meet Vice Premier Liu He, who is leading the Chinese side in the talks, on Thursday. Hopes of a trade deal have helped fuel the S&P 500's strong start to the second quarter. It has reached its highest level since Oct. 9 and is only 1.75% below its all-time closing high. Also helping investor sentiment, data from the U.S. Labour Department showed that jobless claims fell to a 49-year low last week, pointing to sustained labour market strength. "You look at the jobless claims number, you're seeing potential progress on a trade deal," said Shannon Saccocia, chief investment officer at Boston Private. "That's why there's a little bit more of a pick-up here." Investors will get a clearer picture of the U.S. labour market on Friday, when the non-farm payrolls report is expected. The Dow Jones Industrial Average rose 166.5 points, or 0.64%, to 26,384.63, the S&P 500 gained 5.99 points, or 0.21%, to 2,879.39 and the Nasdaq Composite dropped 3.77 points, or 0.05%, to 7,891.78. Seven of the 11 major S&P sectors were higher. Conversely, the technology sector fell 0.4%. Gains in Facebook and Boeing shares helped push the S&P 500 forward. Facebook rose 1.4%, contributing to a 0.7% gain in the communication services sector, after brokerage Guggenheim upgraded the social media company's stock to "buy" from "neutral." Boeing climbed 2.9%, adding the most to gains on the Dow and the S&P industrial index, which rose 0.6%. Ethiopian investigators urged Boeing to review its flight control technology in the first public findings on the March crash of a 737 MAX jet. A Morgan Stanley analyst said the report potentially took the worst case scenario of an entirely new cause off the table. Story continues But the Nasdaq snapped a five-day run of gains, as it was pressured by a fall in the shares of Microsoft Corp and Tesla Inc. Tesla shares tumbled 8.2% after the electric carmaker's deliveries fell 31% in the first quarter. They pared some losses in afternoon trading as Chief Executive Elon Musk's role at the company appeared safe, with a federal judge in Manhattan urging the billionaire to settle contempt allegations by the Securities and Exchange Commission. Advancing issues outnumbered declining ones on the NYSE by a 1.82-to-1 ratio; on Nasdaq, a 1.31-to-1 ratio favoured advancers. The S&P 500 posted 20 new 52-week highs and one new low; the Nasdaq Composite recorded 49 new highs and 36 new lows. Volume on U.S. exchanges was 6.33 billion shares, compared with the 7.37 billion average for the full session over the last 20 trading days. (Reporting by April Joyner; Additional reporting by Sruthi Shankar and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta, Chizu Nomiyama and Susan Thomas) |
https://finance.yahoo.com/news/landec-corp-lndc-q3-2019-211231980.html | 2019-04-04 21:12:31+00:00 | [] | Motley Fool Transcribers, The Motley Fool | Motley Fool | http://www.fool.com/ | LANDEC CORP (LNDC) Q3 2019 Earnings Conference Call Transcript | Image source: The Motley Fool.
LANDEC CORP(NASDAQ: LNDC)Q3 2019 Earnings Conference CallApril 04, 2019,11:00 a.m. ET
• Prepared Remarks
• Questions and Answers
• Call Participants
Operator
Good day, ladies and gentlemen, and welcome to Landec Third Quarter Fiscal 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) And as a reminder, this conference is being recorded.
I would now like to introduce your host for today's conference, Molly Hemmeter, Landec President and CEO. Please go ahead.
Molly A. Hemmeter--President and Chief Executive Officer
Thank you, Amanda. Good morning, and thank you for joining Landec's third quarter of fiscal year 2019 earnings call. With me on the call today is Greg Skinner, Landec's Chief Financial Officer.
During today's call, we may make forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially. These risks are outlined in our filings with the Securities and Exchange Commission, including the Company's Form 10-K for fiscal year 2018.
As a leading innovator in diversified health and wellness solutions, Landec is comprised of two businesses: Lifecore, our Contract Development and Manufacturing or CDMO business; and Curation Foods, our natural foods business, which now includes five brands that offer plant-based products with 100% clean ingredient. These brands include our flagship brand Eat Smart packaged salads and fresh vegetable products, and our four emerging natural food brands that include O Olive Oils and Vinegars, Now Planting pure-plant meal solutions, and our recently acquired Yucatan and Cabo Fresh guacamole and avocado products.
For the third quarter of fiscal 2019, our consolidated revenues increased 7% to $155.7 million, consistent with the low end of our revenue guidance for the quarter. The earnings per share of $0.04 was at the top end of our guidance due to a $2.6 million or $0.07 benefit from the reduction in the earnout liability associated with the O acquisition, which was partially offset by: one, incremental costs in our non-salad vegetable business due to weather volatility; two, a shortage of drivers in our logistics operations resulting in increased shipping costs; and three, no increase in the fair market value of our Windset investment.
During the third quarter, we made significant progress in our strategic objective to drive long-term shareholder value. Lifecore completed the installation of its new multi-purpose vial and syringe filling line in preparation for commercial production of vials that is expected to begin on this new line during the first half of fiscal 2020. Lifecore has also made significant strides in building and expanding its CDMO product development pipeline. Lifecore now has over 15 FDA regulated drug and medical device products at various stages of development, ranging from early phase pre-clinical work to late phase pivotal clinical studies.
Also during the third quarter, the name of the Landec's food business was changed from Apio to Curation Foods, signifying the completion of the strategic transformation of this business and unifying five plant-based brands, all with 100% clean ingredients, under one mission-based corporate identity. Two of these brands, Yucatan and Cabo Fresh, were added as a result of the acquisition of Yucatan Foods at the beginning of the third quarter. With the Yucatan Foods acquisition, Curation Foods entered the high growth guacamole category, added sales capabilities and strategic customer relationships in the deli department of retail stores and gained a low-cost manufacturing footprint in Mexico.
The four new and emerging natural food brands now include O, Now Planting, Yucatan and Cabo Fresh, and are projected to generate 13% to 16% of Curation Food's revenue in fiscal year 2020, with our flagship brand, Eat Smart, representing the largest portion of the natural foods business. As they scale overtime, the four emerging brands are expected to generate gross margins of at least 30% compared to gross margins of 10% to 12% in the packaged fresh vegetable business, which is subject to more sourcing and cost volatility.
Moving forward, Lifecore is focused on commercializing new FDA-regulated products, while Curation Foods is focused on the integration of Yucatan Foods and an aggressive cost-out program to drive operational efficiencies, while advancing product innovation and market share.
Before I go into more detail about our key areas of focus over the next 12 to 24 months, let me turn the call over to Greg for some financial highlights from our third quarter of fiscal 2019.
Gregory S. Skinner--Chief Financial Officer
Thank you, Molly, and good morning, everyone. Revenues in the third quarter of fiscal 2019 increased 7% to $155.7 million compared to a $144.9 million in the year-ago quarter. The increase was due to a $10 million or 8% increase in revenues at Curation Foods, primarily from the addition of Yucatan Foods during the quarter, and from a $744,000 or 3% increase in Lifecore revenue.
Net income for the quarter was $1.1 million or $0.04 per share compared to net income from continuing operations of $16.3 million or $0.58 per share in the year-ago quarter. The decrease in net income was a result of: first, a $13.7 million or $0.49 per share one-time tax benefit from the new corporate income tax rate that went into effect during the third quarter of last year; second, a $1.7 million of acquisition-related expenses; third, a $2.3 million net increase in operating expenses, primarily due to the addition of Yucatan Foods and Now Planting soups this fiscal year and after including the $2.6 million benefit from the reduction in the earnout liability from the O acquisition; and fourth, a $1.2 million increase in interest expense. These decreases in net income were partially offset by $1.4 million increase in gross profit at Curation Foods, primarily from the addition of Yucatan Foods during the quarter and from a $600,000 decrease in income taxes excluding the tax benefit from tax reform recorded during the third quarter of last year.
Revenues in the first nine months of fiscal 2019 increased 6% to $405.3 million from $383.2 million in the same period last year. The increase was due to a $19.6 million or 6% increase in revenues at Curation Foods and a $2.5 million or 5% increase in Lifecore revenues.
Net income for the first nine months was $672,000 or $0.02 per share compared to net income from continuing operations of $19.1 million or $0.68 per share in the same period last year. The decrease was a result of: first, a $13.7 million or $0.49 per share one-time tax benefit from the new corporate income tax rate that went into effect last year; second, $2.5 million of acquisition-related expenses; third, $1.8 million net increase in operating expenses, primarily due to the addition of Yucatan Foods and Now Planting soups this fiscal year and after including the $3.5 million benefit from the reduction in the earnout liability from the O acquisition; fourth, a $1.9 million increase in interest expense; and fifth, a -- sorry, I got my pages backwards here -- actually, I'm missing a page -- excuse me, my bad -- fifth, a $1.6 million increase in the fair market value of he Company's Windset investment during the first nine months of fiscal 2019 compared to a $2.2 million increase in the first nine months of last year. These decreases in net income were partially offset by $745,000 increase in gross profit at Curation Foods, primarily from the addition of Yucatan Foods and from a $1.7 million decrease in income tax expenses excluding the impact from the tax reform in fiscal 2018.
For the fourth quarter of fiscal 2019, we expect revenues to be in the range of $150 million to $153 million and net income to be $0.12 to $0.15 per share. The net income guidance for the fourth quarter reflects Lifecore revenues of $23 million to $24 million and operating income of $7.8 million to $8.2 million.
At Curation Foods, we expect revenues of $127 million to $130 million and operating income of $2.5 million to $3.3 million. The operating income in our Curation Foods business during the fourth quarter is projected to be negatively impacted from: first, significant sourcing-related costs in our non-salad vegetable business due to record cold temperatures in the month of February in Southern California and very heavy rains in February and early March throughout California, both of which are expected to negatively impact yields during our fiscal fourth quarter; second, higher than expected logistics costs due to driver shortages; and third, no change in the fair market value of our Windset investment during the quarter. In addition, we expect interest expense to increase sequentially, primarily due to capitalizing less interest than previously forecasted.
We are currently forecasting for the fourth quarter of fiscal 2019 consolidated cash flow from operations of $10 million to $12 million and capital expenditures of $14 million to $18 million.
Turning to our financial position. At the end of the third quarter, we had approximately $147 million of debt, which translates into a debt to equity ratio of 0.54, and debt to tangible assets ratio of 0.39. Our leverage ratio at the end of the third quarter was approximately 3.7. Our covenant is 4.5 or less, which means we had borrowing capacity of approximately $28 million. We typically generate the most cash from operations during the fourth quarter of our fiscal year. However, due to the projected increase in capital expenditures in the fourth quarter compared to the previous three quarters of fiscal 2019, we expect our debt and leverage ratio to increase by fiscal year end 2019 but still be well within our leverage covenant at fiscal year end and beyond.
Let me turn the call back over to Molly.
Molly A. Hemmeter--President and Chief Executive Officer
Thanks, Greg. Our top priorities over the next one to two years are: first, to implement cost savings initiatives in our Curation Foods business; second, to integrate the Yucatan Foods team and operations into our Curation Foods business; and third, to invest in innovation and growth at both Lifecore and Curation Foods.
At Lifecore, we continue to invest in accelerating growth and profitability by expanding the Lifecore business beyond its historical capabilities as a premium supplier of hyaluronic acid or HA. We have achieved this by investing in business development capabilities to expand into new markets. Landec has also invested in infrastructure and equipment to enable Lifecore's transition to a fully integrated CDMO that provides differentiated fermentation, formulation, aseptic filling and final packaging services for difficult-to-handle FDA-approved pharmaceutical products. Most recently, we invested in the installation of Lifecore's new $16 million multi-purpose filling line. The new line will further enhance Lifecore's growth strategy as a CDMO, which is specifically designed to align Lifecore's capabilities with the growing needs and market expectations of its partners and provides Lifecore with the capacity to fill commercial quantities of drug products in vials, in addition to its existing capacity to fill syringes.
Lifecore has also initiated a capacity expansion of its HA fermentation process to increase overall capacity by 25%. This expansion is expected to be complete in fiscal 2020 in preparation for future HA demand, driven by products currently in product development. The new multi-purpose filling line and the new HA capacity has a potential to drive $40 million to $60 million of incremental revenues annually once full capacity is achieved. We plan to continue to invest in Lifecore to meet its future demand requirements as products currently in development receive FDA approval and transition to commercial products.
The mission of Curation Foods is to increase access of plant-based foods with 100% clean ingredient to as many people as possible, while preserving and protecting our planet for future generations. We accomplished this by reimagining how fresh and refrigerated products are grown, prepared and delivered. Curation Foods has a unique combination of capabilities that makes it truly differentiated in the market with proven internal innovation capabilities, a refrigerated supply chain and a direct sales force to partner strategically with customers throughout the fresh perimeter of the store.
Over the last several years, we have rapidly entered into several high-growth categories with innovative new products and are well positioned to deliver long-term and sustainable top line growth. With the strategic transformation of the Curation Foods product portfolio complete, we turn to the next stage and critical stage of our growth. During this next phase, we will focus on delivering operational and service excellence by driving efficiencies through automation, systems integration and supply chain synergies. These efficiencies are critical to reducing costs in our Curation Foods business to offset ever-increasing costs due to weather volatility, as well as increasing labor, freight and packaging costs that are being experienced by the entire industry. As such, we have engaged The Hackett Group, a third-party consulting firm with considerable experience in the produce industry, to identify cost reductions in our food operations above and beyond the cost savings that have already been identified by the Curation Foods team. We are currently forecasting that the cost savings in fiscal 2020 will offset known cost increases and mitigate costs associated with weather volatility, with the primary objective of improving the predictability of earnings in our food business.
Simultaneously with reducing costs in our food business, we are focused on integrating Yucatan Foods into Curation Foods. We believe immediate synergies exist between the two organizations. Yucatan Foods will leverage the experience of the Curation Foods sales team within club stores and produce department of retail stores, while Curation Foods will leverage the Yucatan Foods sales team experience in the deli department of retail stores. Over time, the newly combined sales organization will be able to expand distribution of all Curation Foods products throughout the fresh perimeter of the store, as this real estate continues to evolve to attract the plant-forward consumer.
In addition to increased sales and distribution, there are other synergistic opportunities to drive future growth and profitability. In the medium term, we will evaluate the potential of Yucatan Foods to leverage Curation Foods' refrigerated logistics fleet to reach their customers at lower cost, while delivering equal or higher product quality and service levels. Longer term, numerous opportunities also exist for product innovation that leverage capabilities among the Curation Foods' portfolio of brands. And Curation Foods may also be able to leverage the Yucatan Foods' relationship and footprint in Mexico to secure lower cost sourcing and manufacturing for its Eat Smart products.
Along with cost savings initiatives and the integration of the Yucatan -- of Yucatan Foods, we continue to invest in innovation to drive growth. At Curation Foods, we continue to invest in creating on-trend plant-based foods with 100% clean ingredients with proven success in launching new products and disrupting market in partnership with our strategic customers. We have bolstered our internal innovation efforts with the select acquisitions of O Olive Oil & Vinegar and Yucatan Foods. Each of these acquisitions contribute high-quality plant-based products that will contribute to Curation Foods' future growth and profitability and can benefit from Curation Foods' innovation, selling and supply chain capability.
Looking to fiscal 2020, we expect revenues and operating income to increase at both Lifecore and Curation Foods compared to fiscal 2019. The revenue growth at Lifecore will continue to be driven by the expansion of its CDMO and HA product development pipeline. The revenue growth in Curation Foods will be primarily driven by a full year of avocado product sales and continued growth in the guacamole category. With the revenue growth in fiscal 2020 coming from our higher margin products, we're expecting overall gross margin and operating income to also increase. We will share our fiscal 2020 guidance with our fiscal 2019 year-end results release in late July and provide growth projections for both Lifecore and Curation Foods in that release.
In summary, we are committed to growing our two businesses. Over the years, we have successfully grown Lifecore revenues to create a profitable CDMO business of scale. At Curation Foods, we've continued to innovate 100% clean plant-based products in high-growth segments. With the acquisition of Yucatan Foods, Curation Foods adds a double-digit growth platform, a lower cost infrastructure in Mexico and a higher margin product offering that exhibits less volatility, all of which contribute to and advance our progress in driving future more predictable profitability in our food business.
We are now open for questions.
Operator
(Operator Instructions) Our first question is from the line of Mike Petusky of Barrington. Your line is open.
Michael Petusky--Barrington Research -- Analyst
Hi. Good morning. A couple of questions. So Molly, on the salad numbers, to me, it looks like you guys are below 5% through nine months in terms of growth there. And I know that you guys are targeting a more upper single digit toward 10% figure there as you look forward, and you've sort of discussed innovation and the introduction of new products. And I was just wondering as you're looking over the next, say, 6, 12, 18 months, do you guys feel like you're teeing up some things that consumers will respond to positively and will drive you toward something closer to 8%, 10% growth in the salad category?
Molly A. Hemmeter--President and Chief Executive Officer
Hi, Mike. Thanks for your question. So right now, in fiscal year '19, we are projecting about a 2% growth in our salad sales. And I think, as we've said in past calls, a lot of that is due to headwinds in both crop rotations and private labels, specifically in the mass channel. As we're looking forward, we're not quite ready to give our growth projections for salads next year, but we do see growth and we do see what we are going to be launching innovation in our fourth quarter. And so, I think as we launch that innovation in our salad [ph] quarter in the fourth quarter, we're going to start to see kind of how that is received in the market and be able to give better projections and more accurate projections for that at our July call.
Michael Petusky--Barrington Research -- Analyst
Are those going to be sort of innovation in sort of a limited release or is it going to be fairly widespread introductions?
Molly A. Hemmeter--President and Chief Executive Officer
Well, we typically try to release our products to a few strategic customers first to test them and learn and make sure before we scale that we've got the right recipe for success. And so, I see it more in a few strategic customers moving forward so that we can test them, learn and see how that goes.
Michael Petusky--Barrington Research -- Analyst
Got you. And sort of on a related subject, so you guys have now had several months of Now Planting in Publix and maybe one or two other retailers. Yet any traction -- I'm not looking necessarily for a quantification, but do you feel like you're getting traction, or have you learned things there that will help you going forward, or is there anything you can just talk about in terms of Now Planting?
Molly A. Hemmeter--President and Chief Executive Officer
Yes. So we've actually been learning quite a good deal with our new -- Now Planting, and we're very happy that we're testing it with our strategic customers because we've seen really a wide variety of results, and I can give an overview of that. So I would say we're now in about three -- we're in three different customers. We are in -- well, we were in three different customers. So we launched into Publix, we launched in the Loblaws in Canada, and we also launched into a natural store up in Minneapolis area called Lunds & Byerlys. And we're seeing three different results from those three stores, which is why we like to test and learn.
So in Publix, we actually are no longer being carried there. And what we found is that in Publix, they do not have a high percentage of our plant-based consumer, and they are in a very low market as far as indexing pursuit. A lot of that has to do that we were selling when it was over 90 and 100 degrees in the Florida area. So in Publix, we have determined that that's not the right market for us.
In Loblaws, it's going very well in Canada. Now, we know and in past calls, we've talked about how the Canadian market actually indexes very well for plant-based consumers and are -- we are their market share leader with our salads in Canada with our Eat Smart brands. And so, in Loblaws, we see that it is doing very well.
And then in the natural channel, it's a small chain called Lunds & Byerlys, were actually also performing very well. So I think what we're finding as we kind of move and we're learning with those consumers is, we really want to expand to where we believe the plant-based consumer is, and we're working on specific customer marketing programs to grow awareness of the brand and the product.
Michael Petusky--Barrington Research -- Analyst
Okay. Great. And just one quick one for Greg. Greg, as you sort of look at -- and I appreciate the Q4 guidance in terms of cash flows. But as you sort of look at -- and I know you're not giving official guidance, but as you sort of look out over the next several quarters, is there a quarter or is there a fiscal year where you say, hey, this is sort of where we are targeting where we get cash flow positive on a consistent basis?
Gregory S. Skinner--Chief Financial Officer
Yeah. Well, and without getting into specifics, given that we haven't finished our budget, I think the peak of the -- at least our leverage ratio will be the fourth quarter of this year. And the first half of our years tend to be -- as a result of some seasonality and some cyclicality, specifically at Lifecore, are usually the lower quarters of the year. So when you're looking out, I think the second half of next year, but we'll give more specifics in the July call.
Michael Petusky--Barrington Research -- Analyst
Okay. Great. Thank you. Appreciate it.
Molly A. Hemmeter--President and Chief Executive Officer
Thanks, Mike.
Operator
Thank you. Our next question is from the line of Anthony Vendetti of Maxim Group. Your line is open.
Anthony Vendetti--Maxim Group -- Analyst
Thanks. Good morning.
Molly A. Hemmeter--President and Chief Executive Officer
Good morning, Anthony.
Anthony Vendetti--Maxim Group -- Analyst
Good morning, Molly. Just wanted to talk a little more about Lifecore first. So I know you've increased the capacity. What was the -- just remind me, what was the cost to do that and what's the timing of some of the new business now that capacity is online?
Molly A. Hemmeter--President and Chief Executive Officer
(multiple speakers) Okay. Go ahead, Greg.
Gregory S. Skinner--Chief Financial Officer
Go ahead, Molly. Okay. So the cost of line was about $16 million, Anthony. And right now, it's looking like the -- at least the initial use where we're in testing right now will be in the first half of 2020 -- fiscal 2020.
Anthony Vendetti--Maxim Group -- Analyst
And there's business already lined up for that, correct?
Gregory S. Skinner--Chief Financial Officer
Yes.
Anthony Vendetti--Maxim Group -- Analyst
Okay. And in this quarter, some of that -- ex that capacity, but just Lifecore in general, there were some revenue pushed into the upcoming fiscal fourth quarter. Any reason for that, or is it just timing of contracts?
Gregory S. Skinner--Chief Financial Officer
That seems to be more of a change. Historically, if you look back at Lifecore, lion's share of their revenues and profits were in the third quarter. We started seeing it last year and we're seeing it again this year that it's been more evenly spread over the third and fourth quarter, and that could be the new trend going forward. Obviously, we're still in the process of putting our plan together for '20, but that could be the new norm.
Anthony Vendetti--Maxim Group -- Analyst
Okay.
Gregory S. Skinner--Chief Financial Officer
They're in line with our expectations, internal expectations for the year. We knew that some of the revenues that historically had hit in the third quarter were going to happen in the fourth quarter this year.
Anthony Vendetti--Maxim Group -- Analyst
Okay. And then, if we look at the non-salad revenue, it looks like that was down around 6% in Q3. Is that correct? And if so, what's the reason for that?
Molly A. Hemmeter--President and Chief Executive Officer
The core revenue is down a lot because of -- the core revenue is down mostly because of the supply issues we've been having. So it especially hit us in the first quarter with green bean as we were not able to -- and again, was an industrywide thing. And so, we were not able to meet all the demand and we did short some customers unfortunately. We're back in on green bean now and that looks very strong. But in Q3 and Q4, with the heavy rains that we spoke about in the front part of this call, cauliflower and broccoli have been going in and out of availability, and it has just really hurt our ability to service our customers.
That being said, I do want to reiterate we haven't had any shortages in our salad business, and that business really continues to not have the volatility we see in core. We've been in salad business maybe five or six years now, and we have yet to have to short any customers in those five or six years on salad. So the vegetables we're using in those products are much more robust and not susceptible to the volatility we see in our core bag business.
Anthony Vendetti--Maxim Group -- Analyst
Okay. Great. Alright, guys. Thanks.
Molly A. Hemmeter--President and Chief Executive Officer
You're welcome.
Operator
Thank you. Our next question is from the line of Chris Krueger of Lake Street Capital Markets. Your line is open.
Chris Krueger--Lake Street Partners -- Analyst
Hi. Good morning, guys.
Gregory S. Skinner--Chief Financial Officer
Hi, Chris.
Molly A. Hemmeter--President and Chief Executive Officer
Hi, Chris.
Chris Krueger--Lake Street Partners -- Analyst
Hi. You guys indicated that you had significant sourcing issues from bad weather in California, I think, in the month of February and into March. Has that gotten better in recent weeks? And also how are the green bean growing regions?
Molly A. Hemmeter--President and Chief Executive Officer
Right. So the green bean growing regions are doing well right now. So we're back into green beans. We don't see any issues there. We've been in and out, as I said previously, on our cauliflower and broccoli, and we do see some in the fourth quarter. We have seen some shortages due to the rains that were earlier and the inability to get in the fields right away. So we do see some shortages, which -- those shortages are included in the projections we gave in the press release.
Chris Krueger--Lake Street Partners -- Analyst
Alright. Got it. There has been a talk in recent days really about the Mexican border and whether or not it could potentially be shut down. How should we look at that risk as far as the avocado and guacamole, the new business you acquired?
Molly A. Hemmeter--President and Chief Executive Officer
Right. So obviously, this is an evolving situation and prices have spiked with Hass avocados in the last couple of days on the news. That being said, there also is a pretty large supply of Hass avocados. So there is no shortage of avocados, but people are stocking up and buying avocados in anticipation of any border closure. We've done the same. We are also stocking up on avocados. We have our own ripening rooms, so we are making sure that we have those and are ripening our own avocados. And our -- as soon as we create finished goods at our Mexico facility, we actually transport those finished goods, which is guacamole, into the United States. So we are building our inventories at our warehouses in the United States in anticipation of anything happening, and that will at least give us temporary -- a temporary cushion in the event that something does happen. So hard for me to predict if that is going to happen, but we're doing everything we can in the event that it does.
Chris Krueger--Lake Street Partners -- Analyst
Got it. Okay. And then on the salad kits, I don't -- I haven't really checked lately, but in the past, you've talked about having roughly one new product per quarter. Is that still kind of the pattern?
Molly A. Hemmeter--President and Chief Executive Officer
It is. And we will be launching new innovation in the fourth quarter. So I look forward to talking about it. I'll probably be putting some news out on our LinkedIn about the new products, if everybody follows LinkedIn, and we'll be talking about it in our next earnings call.
Chris Krueger--Lake Street Partners -- Analyst
Alright. Thank you.
Molly A. Hemmeter--President and Chief Executive Officer
Thank you.
Operator
Thank you. (Operator Instructions) Our next question is from the line of Mike Morales of Walthausen. Your line is open.
Michael Morales--Walthausen -- Analyst
Hi. Good morning, guys. Thanks for taking my question.
Molly A. Hemmeter--President and Chief Executive Officer
Good morning.
Gregory S. Skinner--Chief Financial Officer
Good morning, Mike.
Michael Morales--Walthausen -- Analyst
One of the things I'd like to dig into a little bit more is the Lifecore and the HA capacity expansion there. So I guess at the outset, could you give us a figure on what the typical growth in the -- just the HA market is per year?
Gregory S. Skinner--Chief Financial Officer
The -- if you look at some -- and I'm not sure how current these stats are, but just from the aging demographics, the lion's share of Lifecore's HA is in the ophthalmic space, so -- and primarily in cataract surgery. So you've got a kind of focus on what the growth of cataract surgeries are, and at least the last statistics I saw was it was growing in the 5% range per year. So with that growth, you can pretty much bank on that level of growth in our HA just as the base, and then anything additive would increase that growth.
Michael Morales--Walthausen -- Analyst
Sure. So 5% growth in the lion's share of the HA market. So it sounds like the 25% HA line expansion, a large part of that is going to support operations of the new filling line. Is that correct?
Gregory S. Skinner--Chief Financial Officer
That -- I'm not quite sure I followed your question. But yeah, the -- a lot of the use of the new line is -- and the main purpose for the new line is for vials, and that's primarily directed toward the pharmaceutical drug market.
Michael Morales--Walthausen -- Analyst
Sure. So maybe another way of saying it, with only 5% growth in the typical HA market, a 25% capacity expansion on HA wouldn't be just going to fill the natural growth in the HA market and could be used to support just the new dual filling line. Is that correct?
Gregory S. Skinner--Chief Financial Officer
Yeah. And new customers and new products.
Michael Morales--Walthausen -- Analyst
Sure. And so -- and...
Gregory S. Skinner--Chief Financial Officer
Growth in market share is the primary driver there.
Michael Morales--Walthausen -- Analyst
Okay. And you're getting rolling forecast from your customer that go out how long?
Gregory S. Skinner--Chief Financial Officer
12 months.
Michael Morales--Walthausen -- Analyst
12 months. Okay. So at least on this new dual filling line then, can you help us understand the economics of how that's comparing to the existing work that Lifecore is doing? Is it on a per unit basis above what Lifecore has historically done?
Gregory S. Skinner--Chief Financial Officer
Since we haven't started up yet, ask me that question in July, and I may have an answer for you.
Michael Morales--Walthausen -- Analyst
Okay.
Molly A. Hemmeter--President and Chief Executive Officer
That being said, in general, as we look out even three years with Lifecore and we model all the new businesses in the product development pipeline, we expect Lifecore to continue deliver 40% to 45% gross margins. So there's an obvious product mix there. But as [ph] HA in the fermentation space, which is high, and the product development margins are very high, the mix continues to deliver 40% to 45% gross margin.
Michael Morales--Walthausen -- Analyst
Okay. That's helpful. And then lastly from me would be engagement of The Hackett Group, can you give us an update on any specific areas that they're looking at as far as opportunities to take cost out of the business and [ph] continue to make more progress?
Molly A. Hemmeter--President and Chief Executive Officer
Sure. So we're very optimistic about the cost-out program, and we consider this the top priority in our food business. As we've all seen the cost of doing business in the food business are ever increasing and we need to acknowledge these costs, first and foremost, our cost increases are going up year-over-year. And our goal is to build more cushion and contingency in our business every year against weather volatility so that we can deliver a more predictable earnings. And I think that's what our initial goal of cost-out program is.
As far as examples, we have had -- we have a tremendous amount of cost-out opportunity. It's one of the things when I look at this business that is extremely positive is that we don't have to -- it's not a 100-year business where you have to dig and dig to find cost-out opportunities. In the past, it didn't make sense to automate a lot of the process and a lot of the unit operations, and the reason was that the labor was cheap enough or it just didn't make sense when the ROI was not there. With the increasing labor costs, it really starts to make automation just make a lot of sense. And so, in our plant in Guadalupe and in our plant in Bowling Green, we are automating a lot of the unit operations that we did not previously automate, and we will be doing that next year.
We are also seeing -- I'm very optimistic about some of the cost-out that we can gain by our Yucatan acquisition. We're finding that in our logistics and if you really think about internal logistics instead of outbound. So as we are shipping products from Mexico up into the United States into the different warehouses, we're finding that we can use our own internal trucks for the Yucatan products that are already going on those routes, and let me give you an example. We do currently grow during parts -- about nine months of the year, we currently grow broccoli in Mexico for our current customers and we have our own trucks bringing that up through Texas. That is the same route that the guacamole is using. So we're very excited that we're going to be able to put the guacamole on the same truck as our broccoli and bring it up through Texas and leverage those logistics synergies. So those are just a few of the examples, but I think automation is going to be a big one for us in the food business.
Michael Morales--Walthausen -- Analyst
Alright. Thank you very much, Greg. Thanks, Molly.
Operator
Thank you. And at this time, I would like to turn the call back over to Ms. Hemmeter.
Molly A. Hemmeter--President and Chief Executive Officer
Thank you. Well, thank you, everyone, for joining our call today. We continue to be very optimistic about our Lifecore and our food business. Lifecore continues to develop -- deliver growth. They're projected to hit their 14% to 16% growth that we projected for this year. In Curation Foods, we're continuing to work through our transformation. I truly believe that we have our strategic portfolio in line. We are in product segments now in the market that are poised for growth and are on trend with consumers, so the top line feels very strong and our focus now turns to cost-out and integration of our -- of Yucatan and Cabo Fresh brands into the rest of our system. And I think fiscal year '20 and beyond, we're going to be very focused on getting cost out in order to deliver more predictable earnings in our food business, and we'll be doing this simultaneously with growing market share.
So thank you for joining us today, and thank you for support of Landec.
Operator
Ladies and gentlemen, thank you for your participation in today's conference. This does conclude the program. You may now disconnect. Have a great day.
Duration: 41 minutes
Molly A. Hemmeter--President and Chief Executive Officer
Gregory S. Skinner--Chief Financial Officer
Michael Petusky--Barrington Research -- Analyst
Anthony Vendetti--Maxim Group -- Analyst
Chris Krueger--Lake Street Partners -- Analyst
Michael Morales--Walthausen -- Analyst
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https://finance.yahoo.com/news/were-hedge-funds-souring-broadridge-211231005.html | 2019-04-04 21:12:31+00:00 | [] | Asma UL Husna | Insider Monkey | http://www.insidermonkey.com | Were Hedge Funds Right About Souring On Broadridge Financial Solutions, Inc. (BR) | You probably know from experience that there is not as much information on small-cap companies as there is on large companies. Of course, this makes it really hard and difficult for individual investors to make proper and accurate analysis of certain small-cap companies. However, well-known and successful hedge fund managers like Jeff Ubben, George Soros and Seth Klarman hold the necessary resources and abilities to conduct an extensive stock analysis on small-cap stocks, which enable them to make millions of dollars by identifying potential winners within the small-cap galaxy of stocks. This represents the main reason why Insider Monkey takes notice of the hedge fund activity in these overlooked stocks.
IsBroadridge Financial Solutions, Inc. (NYSE:BR)undervalued? The smart money is taking a bearish view. The number of bullish hedge fund positions retreated by 11 in recent months. Our calculations also showed that BR isn't among the30 most popular stocks among hedge funds.
Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 32 percentage points since May 2014 through March 12, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.
Let's view the latest hedge fund action surrounding Broadridge Financial Solutions, Inc. (NYSE:BR).
At the end of the fourth quarter, a total of 22 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -33% from the second quarter of 2018. Below, you can check out the change in hedge fund sentiment towards BR over the last 14 quarters. With hedge funds' capital changing hands, there exists a select group of notable hedge fund managers who were adding to their holdings substantially (or already accumulated large positions).
The largest stake in Broadridge Financial Solutions, Inc. (NYSE:BR) was held byAQR Capital Management, which reported holding $199.2 million worth of stock at the end of September. It was followed by Citadel Investment Group with a $113.4 million position. Other investors bullish on the company included Junto Capital Management, Renaissance Technologies, and Millennium Management.
Because Broadridge Financial Solutions, Inc. (NYSE:BR) has faced bearish sentiment from the aggregate hedge fund industry, it's safe to say that there were a few funds that slashed their entire stakes heading into Q3. Intriguingly, Jeffrey Talpins'sElement Capital Managementdumped the biggest investment of the "upper crust" of funds monitored by Insider Monkey, valued at close to $16.2 million in stock, and Paul Marshall and Ian Wace's Marshall Wace LLP was right behind this move, as the fund said goodbye to about $14.6 million worth. These transactions are interesting, as total hedge fund interest fell by 11 funds heading into Q3.
Let's now take a look at hedge fund activity in other stocks - not necessarily in the same industry as Broadridge Financial Solutions, Inc. (NYSE:BR) but similarly valued. We will take a look at Equifax Inc. (NYSE:EFX), Copart, Inc. (NASDAQ:CPRT), Textron Inc. (NYSE:TXT), and E*TRADE Financial Corporation (NASDAQ:ETFC). All of these stocks' market caps are closest to BR's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position EFX,22,785153,-13 CPRT,28,273006,-3 TXT,28,580784,2 ETFC,41,1261771,5 Average,29.75,725179,-2.25 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 29.75 hedge funds with bullish positions and the average amount invested in these stocks was $725 million. That figure was $487 million in BR's case. E*TRADE Financial Corporation (NASDAQ:ETFC) is the most popular stock in this table. On the other hand Equifax Inc. (NYSE:EFX) is the least popular one with only 22 bullish hedge fund positions. Compared to these stocks Broadridge Financial Solutions, Inc. (NYSE:BR) is even less popular than EFX. Considering that hedge funds aren't fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn't behind this stock. This isn't necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. Our calculations showed that top 15 most popular stocks among hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Unfortunately BR wasn't in this group. Hedge funds that bet on BR were disappointed as the stock returned 8% and underperformed the market. If you are interested in investing in large cap stocks, you should check out thetop 15 hedge fund stocksas 13 of these outperformed the market.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/mexicos-walmex-says-same-store-211302541.html | 2019-04-04 21:13:02+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Mexico's Walmex says same-store sales rise 4.4 pct in March | MEXICO CITY, April 4 (Reuters) - Wal-Mart de Mexico said on Thursday that sales at stores open more than a year in Mexico rose 4.4 percent in March compared to the same month last year.
Walmex, as the company is known, said total sales in Mexico rose 5.3 percent in March. (Reporting by Anthony Esposito) |
https://finance.yahoo.com/news/house-judiciary-chair-urges-attorney-211350760.html | 2019-04-04 21:13:50+00:00 | [] | Kevin Breuninger | CNBC | http://www.cnbc.com/ | House Judiciary chair urges Attorney General William Barr to 'immediately' release summaries in special counsel Robert Mueller's Russia report | • House Judiciary Chairman Jerrold Nadler urges Attorney General William Barr to "immediately" publicly release any summaries within special counsel Robert Mueller's Russia report.
• Nadler bases his latest request on "troubling" reports that Mueller's team had prepared summaries of their findings from the nearly two-year Russia probe.
• Nadler also asked for "all communications between the special counsel's office and the Department [of Justice] regarding the report."
House Judiciary Chairman Jerrold Nadler, D-N.Y., on Thursday urged Attorney General William Barr to "immediately" publicly release any summaries within special counsel Robert Mueller's Russia report.
Nadler, whose committee voted a day earlier to authorize a subpoena for an unredacted copy of the confidential report, based his latest request on "troubling" reports that Mueller's team had prepared summaries of their findings from the nearly two-year Russia probe.
Those reported summaries were not used by Barr in his initial letters to lawmakers sharing information about the report — a decision that has frustrated some members of the special counsel's team, who believe Barr may have inadequately described Mueller's findings, according to NBC News .
"I write to you regarding troubling press reports relating to your handling of Special Counsel Mueller's report, and to urge that you immediately release to the public any 'summaries' contained in the report that may have been prepared by the Special Counsel," Nadler told Barr in a letter , revealed Thursday afternoon.
Nadler also asked for "all communications between the special counsel's office and the Department [of Justice] regarding the report."
Nadler cited earlier reports from The New York Times and The Washington Post , which referenced government officials and other people familiar with the investigators' frustrations.
Democrats have questioned, and sometimes criticized, Barr's decision to prepare his own four-page summary of the principal conclusions from Mueller's nearly 400-page report, less than two days after that report had been delivered to the Justice Department on March 22.
The report ended the special counsel's 22-month probe of Russian interference in the 2016 presidential election, as well as possible collusion between the Kremlin and the Trump campaign and possible obstruction of justice by President Donald Trump himself.
Barr's brief version said that Mueller did not find sufficient evidence to merit a charge of obstruction of justice against the president. Barr also said that the special counsel did not establish collusion between the Trump campaign and Russia. Trump and his supporters have celebrated the findings as interpreted by Barr, claiming vindication after more than a year of the president lambasting the probe a "witch hunt."
Trump tore into the Times' report in a Thursday morning tweet, claiming without evidence that the newspaper used "no legitimate sources, which would be totally illegal, concerning the Mueller Report."
@realDonaldTrump: The New York Times had no legitimate sources, which would be totally illegal, concerning the Mueller Report. In fact, they probably had no sources at all! They are a Fake News paper who have already been forced to apologize for their incorrect and very bad reporting on me!
A Justice Department spokeswoman said in a statement: "Given the extraordinary public interest in the matter, the Attorney General decided to release the report's bottom-line findings and his conclusions immediately — without attempting to summarize the report — with the understanding that the report itself would be released after the redaction process."
Republicans have slammed as "political theater" the Democrats' vote to authorize a subpoena for the "full and complete" Mueller report and its underlying evidence.
But Nadler said in his letter that "Congress is entitled to the entire record" without redactions.
"But we have a common obligation to share as much of that record with the public as we can," Nadler continued. "Additionally, if the Special Counsel's summaries fit the summary you provided on March 24, that would alleviate substantial concerns that the House Judiciary Committee may wish to discuss when you appear to testify. If there is significant daylight between his account and yours, the American people should know that too."
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https://finance.yahoo.com/news/did-hedge-funds-drop-ball-211428157.html | 2019-04-04 21:14:28+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Did Hedge Funds Drop The Ball On SS&C Technologies Holdings, Inc. (SSNC) ? | At Insider Monkey we track the activity of some of the best-performing hedge funds like Appaloosa Management, Baupost, and Tiger Global because we determined that some of the stocks that they are collectively bullish on can help us generate returns above the broader indices. Out of thousands of stocks that hedge funds invest in, small-caps can provide the best returns over the long term due to the fact that these companies are less efficiently priced and are usually under the radars of mass-media, analysts and dumb money. This is why we follow the smart money moves in the small-cap space.
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)investors should pay attention to a decrease in enthusiasm from smart money recently. Our calculations also showed that SSNC isn't among the30 most popular stocks among hedge funds.
In the eyes of most market participants, hedge funds are assumed to be underperforming, outdated financial vehicles of years past. While there are greater than 8000 funds in operation today, Our researchers look at the moguls of this group, approximately 750 funds. It is estimated that this group of investors control the lion's share of the hedge fund industry's total capital, and by observing their highest performing investments, Insider Monkey has unearthed a few investment strategies that have historically defeated the S&P 500 index. Insider Monkey's flagship hedge fund strategy outpaced the S&P 500 index by nearly 5 percentage points per year since its inception in May 2014 through early November 2018. We were able to generate large returns even by identifying short candidates. Our portfolio of short stocks lost 27.5% since February 2017 (through March 12th) even though the market was up nearly 25% during the same period. We just shared a list of 6 short targets in ourlatest quarterly updateand they are already down an average of 6% in less than a month.
We're going to check out the recent hedge fund action encompassing SS&C Technologies Holdings, Inc. (NASDAQ:SSNC).
At the end of the fourth quarter, a total of 37 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -10% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards SSNC over the last 14 quarters. So, let's examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
The largest stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was held byAlkeon Capital Management, which reported holding $213.1 million worth of stock at the end of September. It was followed by Select Equity Group with a $191.1 million position. Other investors bullish on the company included Cantillon Capital Management, Southpoint Capital Advisors, and Palestra Capital Management.
Since SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has witnessed bearish sentiment from the aggregate hedge fund industry, it's safe to say that there is a sect of hedgies that decided to sell off their positions entirely by the end of the third quarter. It's worth mentioning that Brad Dunkley and Blair Levinsky'sWaratah Capital Advisorsdropped the biggest stake of all the hedgies followed by Insider Monkey, valued at an estimated $25.8 million in stock. Peter Seuss's fund,Prana Capital Management, also sold off its stock, about $21.5 million worth. These moves are important to note, as aggregate hedge fund interest dropped by 4 funds by the end of the third quarter.
Let's now take a look at hedge fund activity in other stocks - not necessarily in the same industry as SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) but similarly valued. These stocks are The Mosaic Company (NYSE:MOS), Broadridge Financial Solutions, Inc. (NYSE:BR), Equifax Inc. (NYSE:EFX), and Copart, Inc. (NASDAQ:CPRT). This group of stocks' market valuations resemble SSNC's market valuation.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position MOS,37,765297,3 BR,22,486909,-11 EFX,22,785153,-13 CPRT,28,273006,-3 Average,27.25,577591,-6 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 27.25 hedge funds with bullish positions and the average amount invested in these stocks was $578 million. That figure was $1401 million in SSNC's case. The Mosaic Company (NYSE:MOS) is the most popular stock in this table. On the other hand Broadridge Financial Solutions, Inc. (NYSE:BR) is the least popular one with only 22 bullish hedge fund positions. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. A handful of hedge funds were also right about betting on SSNC as the stock returned 38.1% and outperformed the market as well. You can see the entire list of these shrewd hedge funds here.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/franklin-covey-fc-reports-q2-211509331.html | 2019-04-04 21:15:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Franklin Covey (FC) Reports Q2 Loss, Tops Revenue Estimates | Franklin Covey (FC) came out with a quarterly loss of $0.25 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to loss of $0.29 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 7.41%. A quarter ago, it was expected that this corporate training and consultanting company would post a loss of $0.19 per share when it actually produced a loss of $0.10, delivering a surprise of 47.37%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Franklin Covey, which belongs to the Zacks Consulting Services industry, posted revenues of $50.36 million for the quarter ended February 2019, surpassing the Zacks Consensus Estimate by 3.35%. This compares to year-ago revenues of $46.55 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Franklin Covey shares have added about 17.7% since the beginning of the year versus the S&P 500's gain of 14.6%.
What's Next for Franklin Covey?
While Franklin Covey has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Franklin Covey was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.10 on $54.41 million in revenues for the coming quarter and breakeven on $227.03 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consulting Services is currently in the top 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFranklin Covey Company (FC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
https://finance.yahoo.com/news/excelsior-capital-limited-asx-ecl-211624611.html | 2019-04-04 21:16:24+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Is Excelsior Capital Limited (ASX:ECL) An Attractive Dividend Stock? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. Historically, Excelsior Capital Limited (ASX:ECL) has been paying a dividend to shareholders. Today it yields 4.5%. Does Excelsior Capital tick all the boxes of a great dividend stock? Below, I'll take you through my analysis.
Check out our latest analysis for Excelsior Capital
When researching a dividend stock, I always follow the following screening criteria:
• Is it paying an annual yield above 75% of dividend payers?
• Has it consistently paid a stable dividend without missing a payment or drastically cutting payout?
• Has it increased its dividend per share amount over the past?
• Is is able to pay the current rate of dividends from its earnings?
• Based on future earnings growth, will it be able to continue to payout dividend at the current rate?
The current trailing twelve-month payout ratio for the stock is 47%, meaning the dividend is sufficiently covered by earnings. Furthermore, analysts have not forecasted a dividends per share for the future, which makes it hard to determine the yield shareholders should expect, and whether the current payout is sustainable, moving forward.
If you want to dive deeper into the sustainability of a certain payout ratio,you may wish to consider the cash flow of the business. A business with strong cash flow can sustain a higher divided payout ratio than a company with weak cash flow.
If there is one thing that you want to be reliable in your life, it's dividend stocks and their constant income stream. The reality is that it is too early to consider Excelsior Capital as a dividend investment. It has only been consistently paying dividends for 6 years, however, standard practice for reliable payers is to look for a 10-year minimum track record.
Compared to its peers, Excelsior Capital generates a yield of 4.5%, which is high for Electrical stocks but still below the market's top dividend payers.
After digging a little deeper into Excelsior Capital's yield, it's easy to see why you should be cautious investing in the company just for the dividend. On the other hand, if you are not strictly just a dividend investor, the stock could still be offering some interesting investment opportunities. Given that this is purely a dividend analysis, I urge potential investors to try and get a good understanding of the underlying business and its fundamentals before deciding on an investment. I've put together three essential aspects you should further research:
1. Future Outlook: What are well-informed industry analysts predicting for ECL’s future growth? Take a look at ourfree research report of analyst consensusfor ECL’s outlook.
2. Valuation: What is ECL worth today? Even if the stock is a cash cow, it's not worth an infinite price. Theintrinsic value infographic in our free research reporthelps visualize whether ECL is currently mispriced by the market.
3. Dividend Rockstars: Are there better dividend payers with stronger fundamentals out there? Check out 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. |
https://finance.yahoo.com/news/novartis-sues-amgen-over-migraine-161314702.html | 2019-04-04 21:16:55+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Novartis, Amgen in dispute over migraine drug partnership | (Adds analyst comment, updates share prices)
By Jonathan Stempel and Deena Beasley
NEW YORK/LOS ANGELES, April 4 (Reuters) - Swiss drugmaker Novartis AG sued Amgen Inc on Thursday, accusing the U.S. biotechnology company of trying to wrongfully back out of agreements to jointly develop and market the migraine prevention drug Aimovig and keep the profits for itself.
The complaint filed in the U.S. District Court in Manhattan comes as drugmakers move to build share in the large market for new treatments to prevent migraine headaches.
Aimovig, which won U.S. and European approvals last year, belongs to a new class of medicines that also includes Eli Lilly and Co's Emgality and Teva Pharmaceutical Industries Ltd's Ajovy.
Novartis called Aimovig a "runaway success," used by about 210,000 patients in the United States and 20,000 elsewhere.
Roughly 39 million Americans suffer from migraine headaches, according to the Migraine Research Foundation. Global drug sales to treat migraines could total $8.7 billion by 2026, according to the GlobalData analytics firm.
Amgen, in an emailed statement, said it is seeking to terminate the collaboration agreements with Novartis and obtain damages, but termination would not be effective until the litigation is resolved.
In its complaint, Novartis said it has spent at least $870 million on Aimovig since it began collaborating in August 2015 with Amgen, which previously controlled rights to the drug.
Novartis accused Amgen of trying to back out of their collaboration agreements based on the pretext that the Swiss company's Sandoz unit was working with Alder Biopharmaceuticals Inc on a possible Aimovig rival.
"The program about which Amgen has complained is being terminated," Novartis said, and the lack of a breach means Amgen's April 2 notice terminating the collaboration agreements should be deemed void.
Novartis said that Sandoz this year amended its contract manufacturing agreement with Alder, agreeing to continue supplying Alder's drug only through 2023.
"Amgen now wants to keep the Aimovig profits for itself and deprive Novartis Pharma of its contractual right to share in the product's success and recoup its significant investments," Novartis said.
The lawsuit seeks to enforce the companies' collaboration agreements and declare Amgen's purported termination void.
Alder said it is not a party to the pending litigation between Novartis and Amgen. "Sandoz is a separate entity who does contract manufacturing for many companies who would compete with an Amgen or whatever," Alder Chief Executive Robert Azelby told Reuters in a telephone interview.
RBC Capital Markets analyst Brian Abrahams said in a research note: "We see it as highly unlikely that Sandoz would breach its own agreement with Alder, and in such a case would owe Alder substantial compensation."
Azelby said Alder intends to keep all U.S. marketing rights for eptinezumab migraine treatment, but is looking for a partner to sell it in other parts of the world.
Novartis' U.S.-listed shares fell 0.8 percent to close at $94.22, while Amgen shares dropped 0.6 percent, closing at $192.33. Alder's shares fell 4.9 percent to close at $13.33.
The case is Novartis Pharma AG v. Amgen Inc, U.S. District Court, Southern District of New York, No. 19-02993. (Reporting by Deena Beasley in Los Angeles, Jonathan Stempel in New York, and John Miller in Zurich; editing by Bill Berkrot and Dan Grebler) |
https://finance.yahoo.com/news/trump-says-trade-deal-china-could-reached-four-211708297--business.html | 2019-04-04 21:17:08+00:00 | [] | Reuters | Reuters | https://www.reuters.com/ | Trump says trade deal with China could be reached in about four weeks | WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday a trade deal with China was getting very close and could be reached in about four weeks.
Trump spoke at a meeting with Chinese Vice Premier Liu He, who is in Washington for trade talks. Liu said there has been great progress in the negotiations.
U.S. Trade Representative Robert Lighthizer said there were still some major issues left to resolve.
Trump said the sticking points included tariffs and intellectual property theft, and the president said he would discuss tariffs with Liu.
China and the United States are in the middle of intense negotiations to end a months-long trade war that has rattled global markets. Washington wants sweeping changes to China's economic and trade policies, while Beijing wants Trump to lift expensive sanctions on Chinese goods.
(Reporting by Jeff Mason; Writing by Eric Beech; Editing by Mohammad Zargham and Alistair Bell) |
https://finance.yahoo.com/news/explainer-ethiopia-crash-raises-questions-201421775.html | 2019-04-04 21:18:07+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Explainer: Ethiopia crash raises questions over handling of faults on Boeing 737 MAX | By Jamie Freed
SINGAPORE (Reuters) - Ethiopia's insistence that its pilots followed procedures when their Boeing Co 737 MAX nosedived before a deadly crash, and Boeing's recent declaration that a new software fix makes a "safe plane safer," have set the stage for a lengthy fight over the roles of technology and crew in recent 737 MAX crashes.
After a deadly Lion Air crash in October, Boeing and the U.S. Federal Aviation Administration told airlines what to do in the event that an erroneous sensor reading fooled the jet into thinking it was in a stall and pushed the nose down.
The Ethiopian Airlines pilots initially followed the advice to shut off the MCAS anti-stall system but later reversed the command counter to guidance at a time when they were traveling beyond maximum operating speeds, according to data contained in a preliminary report released on Thursday and experts on the jet.
WHAT ARE THE PROPER PROCEDURES?
If MCAS misfires, forcing the nose down in a maneuver similar to a condition that pilots know as runaway trim, pilots are supposed to hit two cut-out switches at the plane's center console to turn off power to the electric trim system.
Under normal circumstances, trim is used to keep an aircraft flying level, but the MCAS makes automated nose-down movements.
Data from the Ethiopian Airlines flight indicates the aircraft was flying nose-heavy and not in a "neutral" attitude when pilots hit the stabilizer cutout switches to disable the MCAS system, the preliminary report showed.
That would make the situation harder to manage, possibly accounting for their decision to turn the system back on.
Boeing's checklist for pilots tells them to "control airplane pitch attitude manually with control column and main electric trim as needed" before hitting cut-out switches and turning to a rarely used manual wheel to keep the plane's nose in the proper position. It does not describe a specific trim setting for the pilots to achieve.
WOULD THE PROCEDURES WORK?
Experts are questioning whether the procedures outlined after the Lion Air crash were comprehensive enough to ensure pilots could recover from a real-life cockpit emergency with several distractions at a low altitude shortly after take-off rather than in a pre-planned simulator ride.
A 737 MAX pilot said the resistance on the control yoke would be about four times normal and it could take a few dozen turns of the manual wheel to return the nose to the proper position, depending on the alignment when the switches were cut.
The preliminary report indicates the pilots tried to move their wheels together but were unable to raise the nose much at all by doing so.
"It appears the flight crew reactivated electric trim," former Boeing engineer Peter Lemme said. "But they only made a very small nose up adjustment - I would have expected them to immediately and without stopping move the stabilizer back into trim. The last MCAS command comes 5 seconds after their last manual trim command."
WHY COULDN'T THEY RAISE THE NOSE MANUALLY?
The proper response to MCAS emergencies, Leeham Co analyst Bjorn Fehrm said, is to correct the dangerous nose-down "trim" using electronic thumb switches, then turn off MCAS and trim manually with the wheel.
But if the aircraft is going too fast, those electronic switches may not be effective, European regulators said in a 2016 memo. And failing to fully fix the trim before MCAS is deactivated can make it physically impossible for pilots to control the plane, Fehrm said.
Under normal circumstances, trim is used to keep an aircraft flying level.
At speeds up to 250 knots (288 mph) pilots can stabilize trim with the manual wheel. But when the speed rises towards 300 knots and higher, the wheel becomes impossible to turn as air rushing over control surfaces makes them harder to move, Fehrm said.
At the time when both pilots were unable to move the wheel, they were traveling at over 340 knots, the maximum operating speed of the airplane and clacker alarms were sounding. By the end of the fatal flight they had reached 500 knots.
WHY WAS THE ETHIOPIAN JET GOING SO FAST?
The plane's engines were at 94 percent thrust on take-off and remained there for the rest of the flight.
That is consistent with the pilots leaving the thrust setting in take-off mode throughout, aviation experts said.
The 737's air data computer also uses angle-of-attack (AOA) information to adjust airspeed readings. If it mistakenly thinks the angle of attack is high, it can trigger pilot warnings that airspeed and altitude data are unreliable on one of the pilot's controls, according to former Boeing engineer Peter Lemme.
That leads to an unreliable airspeed checklist which involves turning off the autothrottle as well as setting engine thrust to 75 percent. The runaway stabilizer checklist to shut off MCAS also says to turn off autothrottle.
However, according to the flight data recorder, the pilots never reduced the thrust from 94 percent.
"The report does not address information about unreliable airspeed procedures which should be considered because they had erratic airspeed," said Greg Feith, a former senior air safety investigator with the National Transportation Safety Board.
(Reporting by Jamie Freed; additional reporting by Tim Hepher in Paris, Eric M. Johnson in Seattle and David Shepardson in Washington; Editing by Gerry Doyle and Alexandra Hudson) |
https://finance.yahoo.com/news/factbox-know-boeing-737-max-crash-comes-next-135507708--sector.html | 2019-04-04 21:18:07+00:00 | [] | Reuters | Reuters | https://www.reuters.com/ | Factbox: What we know about Boeing 737 MAX crashes and what comes next | (Reuters) - More than 300 Boeing 737 MAX jets have been grounded worldwide after two fatal crashes in five months in Ethiopia and Indonesia killed nearly 350 people.
Investigators looking to uncover the causes must answer one of the biggest questions: Was the plane's software to blame?
WHAT WE KNOW
- Boeing has stopped delivery of all new MAX jets. Its stock has fallen about 9 percent since the Ethiopian Airlines crash on March 10.
- Boeing maintains its new, fuel-efficient jets are safe, but supported the U.S. Federal Aviation Administration (FAA) decision to ground them.
- Outlining the findings of a preliminary report into the Ethiopian crash, investigators on April 4 urged Boeing to review its flight control technology and said the crew had carried out the correct procedures. Safety experts said the report may trigger a debate over crew actions and technology.
- The pilots wrestled with controls to stay aloft but plunged to the ground after restoring current to a computer system that was ordering the nose down because of faulty sensor data, a preliminary report showed on April 4.
- The preliminary report into October's Lion Air crash said on Nov. 28 that pilots reported a "flight control problem." It also focused on airline maintenance and training.
- Sources told Reuters on March 18 that investigators had found similarities in the 'angle of attack' data from both the Ethiopian and Indonesian flights.
- Sources said on March 21 that Boeing would mandate on MAX jets a previously optional cockpit warning light, which might have warned of problems that possibly played a role in both crashes.
- Experts believe a new flight control system, MCAS, on the jets, designed to stop stalling by dipping the nose, may have been a factor in both accidents, with pilots unable to override it as their jets plunged after a faulty sensor indicated a stall. But no conclusive evidence yet links the two accidents.
- The MCAS system on the Ethiopian flight re-engaged as many as four times after the crew initially turned it off, two people familiar with the matter told Reuters on April 3.
- Boeing said on April 3 it had successfully tested an update of the MCAS system.
- The U.S. Federal Aviation Administration said on April 3 it was launching a new review of the 737 MAX.
- Europe and Canada said on March 20 they would independently certify the safety of the jets, further complicating plans to get the aircraft back flying.
- Indonesia's flag carrier Garuda said on March 22 it had sent a letter to Boeing asking to cancel an order for 49 MAX 8 aircraft, becoming the first airline to confirm plans to cancel an order after the crashes.
WHAT'S NEXT?
- Indonesia has advanced the planned release of its report on the Lion Air crash to between July and August, versus a previous schedule of between August and September.
- U.S. lawmakers said on March 14 the 737 MAX could be grounded for weeks to upgrade software in every plane. Other countries may ground the planes even longer.
- The U.S. Transportation Department's inspector general plans to audit the FAA's certification of the jet, an official with the office said on March 19. The office can recommend changes or improvements to how the FAA operates.
- The U.S. Justice Department is also looking at the FAA's oversight of Boeing, a person familiar with the matter has said. The FAA has said it is "absolutely" confident in its vetting.
- The chairman of the U.S. House of Representatives transportation committee and another key Democrat asked the Transportation Department's inspector general to examine key decisions the FAA made in certifying the MAX jet.
- U.S. President Donald Trump will nominate former Delta Air Lines executive Steve Dickson to head the FAA, the White House said on March 19.
- Ethiopian Airlines said on March 16 that DNA testing of passengers' remains may take up to six months.
(Compiled by Reuters bureaux) |
https://finance.yahoo.com/news/explainer-ethiopia-crash-raises-questions-over-handling-faults-201421526--finance.html | 2019-04-04 21:18:07+00:00 | [] | By Jamie Freed | Reuters | https://www.reuters.com/ | Explainer: Ethiopia crash raises questions over handling of faults on Boeing 737 MAX | By Jamie Freed
SINGAPORE (Reuters) - Ethiopia's insistence that its pilots followed procedures when their Boeing Co 737 MAX nosedived before a deadly crash, and Boeing's recent declaration that a new software fix makes a "safe plane safer," have set the stage for a lengthy fight over the roles of technology and crew in recent 737 MAX crashes.
After a deadly Lion Air crash in October, Boeing and the U.S. Federal Aviation Administration told airlines what to do in the event that an erroneous sensor reading fooled the jet into thinking it was in a stall and pushed the nose down.
The Ethiopian Airlines pilots initially followed the advice to shut off the MCAS anti-stall system but later reversed the command counter to guidance at a time when they were traveling beyond maximum operating speeds, according to data contained in a preliminary report released on Thursday and experts on the jet.
WHAT ARE THE PROPER PROCEDURES?
If MCAS misfires, forcing the nose down in a maneuver similar to a condition that pilots know as runaway trim, pilots are supposed to hit two cut-out switches at the plane's center console to turn off power to the electric trim system.
Under normal circumstances, trim is used to keep an aircraft flying level, but the MCAS makes automated nose-down movements.
Data from the Ethiopian Airlines flight indicates the aircraft was flying nose-heavy and not in a "neutral" attitude when pilots hit the stabilizer cutout switches to disable the MCAS system, the preliminary report showed.
That would make the situation harder to manage, possibly accounting for their decision to turn the system back on.
Boeing's checklist for pilots tells them to "control airplane pitch attitude manually with control column and main electric trim as needed" before hitting cut-out switches and turning to a rarely used manual wheel to keep the plane's nose in the proper position. It does not describe a specific trim setting for the pilots to achieve.
WOULD THE PROCEDURES WORK?
Experts are questioning whether the procedures outlined after the Lion Air crash were comprehensive enough to ensure pilots could recover from a real-life cockpit emergency with several distractions at a low altitude shortly after take-off rather than in a pre-planned simulator ride.
A 737 MAX pilot said the resistance on the control yoke would be about four times normal and it could take a few dozen turns of the manual wheel to return the nose to the proper position, depending on the alignment when the switches were cut.
The preliminary report indicates the pilots tried to move their wheels together but were unable to raise the nose much at all by doing so.
"It appears the flight crew reactivated electric trim," former Boeing engineer Peter Lemme said. "But they only made a very small nose up adjustment - I would have expected them to immediately and without stopping move the stabilizer back into trim. The last MCAS command comes 5 seconds after their last manual trim command."
WHY COULDN'T THEY RAISE THE NOSE MANUALLY?
The proper response to MCAS emergencies, Leeham Co analyst Bjorn Fehrm said, is to correct the dangerous nose-down "trim" using electronic thumb switches, then turn off MCAS and trim manually with the wheel.
But if the aircraft is going too fast, those electronic switches may not be effective, European regulators said in a 2016 memo. And failing to fully fix the trim before MCAS is deactivated can make it physically impossible for pilots to control the plane, Fehrm said.
Under normal circumstances, trim is used to keep an aircraft flying level.
At speeds up to 250 knots (288 mph) pilots can stabilize trim with the manual wheel. But when the speed rises towards 300 knots and higher, the wheel becomes impossible to turn as air rushing over control surfaces makes them harder to move, Fehrm said.
At the time when both pilots were unable to move the wheel, they were traveling at over 340 knots, the maximum operating speed of the airplane and clacker alarms were sounding. By the end of the fatal flight they had reached 500 knots.
WHY WAS THE ETHIOPIAN JET GOING SO FAST?
The plane's engines were at 94 percent thrust on take-off and remained there for the rest of the flight.
That is consistent with the pilots leaving the thrust setting in take-off mode throughout, aviation experts said.
The 737's air data computer also uses angle-of-attack (AOA) information to adjust airspeed readings. If it mistakenly thinks the angle of attack is high, it can trigger pilot warnings that airspeed and altitude data are unreliable on one of the pilot's controls, according to former Boeing engineer Peter Lemme.
That leads to an unreliable airspeed checklist which involves turning off the autothrottle as well as setting engine thrust to 75 percent. The runaway stabilizer checklist to shut off MCAS also says to turn off autothrottle.
However, according to the flight data recorder, the pilots never reduced the thrust from 94 percent.
"The report does not address information about unreliable airspeed procedures which should be considered because they had erratic airspeed," said Greg Feith, a former senior air safety investigator with the National Transportation Safety Board.
(Reporting by Jamie Freed; additional reporting by Tim Hepher in Paris, Eric M. Johnson in Seattle and David Shepardson in Washington; Editing by Gerry Doyle and Alexandra Hudson) |
https://finance.yahoo.com/news/sears-mini-stores-home-life-211941669.html | 2019-04-04 21:19:41+00:00 | null | null | Consumer Reports | http://www.consumerreports.org | Sears Mini-Stores | Home & Life Stores | Sears Mini-Stores to Sell Appliances, Mattresses Consumer Reports has no financial relationship with advertisers on this site. Consumer Reports has no financial relationship with advertisers on this site. While Amazon seems to always be expanding, Sears continues to shrink—and not just in terms of shuttered stores. The retailer announced Thursday that it is opening several scaled-down stores, called Sears Home & Life, that sell mostly major appliances and mattresses. “This is part of our new era and we’re focusing on our strongest categories—appliances, mattresses, and Sears Home Services,” says Larry Costello, director of public relations for the retailer. Sears survived another brush with liquidation in February after closing hundreds of stores—currently there are 223—and is now opening three Sears Home & Life stores. These smaller stores are 10,000 to 15,000 square feet (an average Sears store covers 155,000 square feet) and will open their doors in late May in Anchorage, Alaska; Overland Park, Kan.; and Lafayette, La. More stores may open down the line, says Costello. What won’t you find at these new locations? Clothes, jewelry, bath towels, and the like—the softer side of Sears—at the Home & Life stores. Expect to find primarily kitchen and laundry appliances , including Kenmore, Sears' house brand, and other leading brands. Sears, for all its struggles, is the fourth-largest retailer of major appliances, behind Lowe’s, Home Depot, and Best Buy. These semi-Sears will also sell small kitchen appliances and vacuums , and mattresses from long-familiar brands that include Tempur-Pedic, Beautyrest, Sealy, Simmons, and Stearns & Foster. Sears Home Services, which does millions of appliance repairs across brands each year, will also set up shop in these stores, where you can buy appliance parts and schedule repairs. “It’s an interesting move, but a move of desperation,” says Burt Flickinger III, managing director of Strategic Resource Group, retail consultants. “Sears has a well deserved reputation of servicing appliances, but they’ve lost a lot of confidence with consumers and vendors.” Story continues He adds that their appliance prices aren’t competitive of late and questions whether these smaller stores can save Sears. “The people who wrecked Sears can’t be seen as the saviors,” says Flickinger. But Sears hasn’t given up. “This is part of our strategy to maintain a presence in markets where we have right-sized our footprint,” says Peter Boutros, chief brand officer for Sears and Kmart. “Sears Home & Life supports our strategic plan to become a stronger, more profitable business and these stores will enable us to learn and improve as we move forward.” Sears hasn't given up on online sales, either. Amazon sells Kenmore appliances, too. More from Consumer Reports: Top pick tires for 2016 Best used cars for $25,000 and less 7 best mattresses for couples Consumer Reports is an independent, nonprofit organization that works side by side with consumers to create a fairer, safer, and healthier world. CR does not endorse products or services, and does not accept advertising. Copyright © 2019, Consumer Reports, Inc. |
https://finance.yahoo.com/news/report-crypto-miner-hut-8-212000165.html | 2019-04-04 21:20:00+00:00 | [] | Cointelegraph By Helen Partz | Cointelegraph | https://cointelegraph.com/ | Report: Crypto Miner Hut 8 Lays Off More Staff | CanadianBitcoin (BTC)miningfirm Hut 8 has reportedly laid off employees at its facilities in the province of Alberta, the Canadian Broadcasting Corporation (CBC)reportsApril 4.
Hut 8’s crypto mining facilities in Drumheller and Medicine Hat are part of a joint venture with European crypto mining hardware firm Bitfury.
A former employee at the Drumheller facility told the CBC that he was laid off along with two dozen colleagues in January. He reportedly stated that the company reduced its staff by around 25% globally at the time, while teams in Alberta have faced even bigger layoffs.
The cuts in staff reportedly come as a result of the 2018 bear market and increased electricity costs in the region. However, the staff reductions have purportedly exceeded expectations, with the layoffs reportedly accounting for half of the data center operations crews, the CBC says.
Founded in 2017,Toronto-basedHut 8 has reportedly mined 7,300 Bitcoin (BTC) to date.
Bitfury has not confirmed layoffs to CBC, declining to comment on the number of employees laid off this week, or in January. However, a Bitfury spokesperson stated that the layoffs were part of an effort to streamline operations.
Hut 8reporteda record revenue in Q3 2018, stating that its revenue was as high as $13.5 million, and $27.7 million for the nine months ending on Sep. 30, 2018. However, it also experienced a net operating loss of $8.3 million.
Recently, biotech company turned mining firm Riot Blockchainreporteda 2018 net loss of about $58 million in its financial report.
• Montana County Adopts Regulation Requiring Crypto Miners to Use Renewable Energy
• Canada Seizes $1.4 Million Bitcoin Holdings in Reportedly Largest Ever Forfeiture
• Biotech Company-Turned-Mining Firm Riot Blockchain Reports 2018 Net Loss of $58 Million
• Israeli Crypto Miner Mulls Move to Toronto Stock Exchange |
https://finance.yahoo.com/news/german-police-nz-attack-suspect-sent-money-french-201855496.html | 2019-04-04 21:20:07+00:00 | null | null | Associated Press | https://apnews.com/ | Germany: Mosque attack suspect sent money to French group | BERLIN (AP) — The suspected New Zealand mosque gunman sent money to a French far-right group and once bought a ticket to Bavaria's "fairytale castle," German police said Thursday. The Federal Criminal Police Office confirmed that it briefed German lawmakers Wednesday on its investigation into ties the alleged Christchurch mosque attacker had to Germany. The closed-door briefing included information German police had about money that the suspect, Brenton Harrison Tarrant, transferred to the Generation Identity group in France. The far-right group which espouses a white nationalist ideology has spread to other European countries since its founding in 2012. Federal police declined to elaborate, but the German news agency dpa reported that Tarrant transferred 2,200 euros ($2,470) in September 2017. Austrian authorities have already said Tarrant donated 1,500 euros ($1,680) to Generation Identity's sister organization, the Identitarian Movement of Austria. The group's head, Martin Sellner, has confirmed he exchanged emails with Tarrant but denies involvement in the attack. New Zealand police have said that Tarrant will face 50 murder charges and 39 attempted murder charges in his second court appearance on Friday. German police said Tarrant used his credit card last November to pay for a ticket to Neuschwanstein Castle — a popular tourist destination near the Austrian border commissioned by Ludwig II of Bavaria in the 19th century. Tarrant at the time was traveling around Europe with stops including Austria, Hungary, Romania, Bulgaria and Estonia. Tarrant in 2014 also made a payment to a German living in the southwestern state of Baden-Wuerttemberg, police said. It was unclear what the purpose of the payment was. Federal police said their investigation is ongoing. |
https://finance.yahoo.com/news/duluth-holdings-dlth-misses-q4-212009795.html | 2019-04-04 21:20:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Duluth Holdings (DLTH) Misses Q4 Earnings and Revenue Estimates | Duluth Holdings (DLTH) came out with quarterly earnings of $0.64 per share, missing the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -14.67%. A quarter ago, it was expected that this clothing and tools supplier would post a loss of $0.10 per share when it actually produced a loss of $0.10, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Duluth Holdings, which belongs to the Zacks Textile - Apparel industry, posted revenues of $250.54 million for the quarter ended January 2019, missing the Zacks Consensus Estimate by 2.68%. This compares to year-ago revenues of $217.81 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Duluth Holdings shares have lost about 6.2% since the beginning of the year versus the S&P 500's gain of 14.6%.
What's Next for Duluth Holdings?
While Duluth Holdings has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Duluth Holdings was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.03 on $120.60 million in revenues for the coming quarter and $1.01 on $673.73 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Textile - Apparel is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportDuluth Holdings Inc. (DLTH) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
https://finance.yahoo.com/news/motel-6-agrees-pay-12-million-settle-lawsuit-193131690--finance.html | 2019-04-04 21:29:49+00:00 | null | null | Associated Press | https://apnews.com/ | Motel 6 agrees to pay $12 million to settle lawsuit | SEATTLE (AP) — The national chain Motel 6 agreed Thursday to pay $12 million to settle a lawsuit filed by Washington state claiming names of hotel guests were improperly provided to immigration officials for two years, the state attorney general said. The information led to targeted investigations by U.S. immigration and Customs Enforcement agents, who went after people with Latino-sounding names, Attorney General Bob Ferguson said. Some people staying at seven Motel 6 locations in the state were detained or deported, he said. "Motel 6's actions tore families apart and violated the privacy rights of tens of thousands of Washingtonians," Ferguson said in a statement. "Our resolution holds Motel 6 accountable for illegally handing over guests' private information without a warrant." The company said in an email that it will enforce its guest privacy policy, which prohibits the sharing of guest information except in cases where a judicially enforceable warrant or subpoena is present or local law requires release of the information. The company has also implemented controls to ensure corporate oversight and compliance in cases where law enforcement requests are made. "The safety and security of our guests, which includes protecting guest information, is our top priority, and we are pleased to be able to reach resolution in this matter," the company said. The agreement applies to all Motel 6 locations nationwide. The company also agreed to provide training to employees to protect guest privacy, Ferguson said. In a separate lawsuit filed in Arizona, the company agreed in November to pay up to $7.6 million to Latino guests who said hotel employees shared private information with immigration officials. In Washington state, Ferguson said Motel 6 gave ICE information on a daily basis about a total of 80,000 guests without a warrant between 2015 and 2017. In one case, a Seattle man who stayed at a Motel 6 near SeaTac was stopped in a parking lot by ICE agents as he wrapped Christmas presents for his four children. He was detained and deported several days later, Ferguson said. Story continues The man was the sole provider for his family and his wife has struggled to support the children, he said. In another case, a Vancouver father who had lived in the U.S. for more than 20 years was detained after staying at a Motel 6 on a trip to pick up supplies for his grocery business, Ferguson said. He also was deported, leaving behind his wife and six children. Ferguson filed the lawsuit in King County Superior Court last year, claiming the company's disclosures violated the state's Consumer Protection Act and a law against discrimination. The company must also create an online tool for guests to report incidences where they believe the hotel chain has shared guest information. |
https://finance.yahoo.com/news/does-joyce-corporation-ltds-asx-213000143.html | 2019-04-04 21:30:00+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | What Does Joyce Corporation Ltd's (ASX:JYC) Balance Sheet Tell Us About It? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
Joyce Corporation Ltd (ASX:JYC) is a small-cap stock with a market capitalization of AU$40m. While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. Why is it important? Assessing first and foremost the financial health is essential, since poor capital management may bring about bankruptcies, which occur at a higher rate for small-caps. We'll look at some basic checks that can form a snapshot the company’s financial strength. Nevertheless, potential investors would need to take a closer look, and I recommend youdig deeper yourself into JYC here.
JYC's debt levels surged from AU$10m to AU$11m over the last 12 months , which accounts for long term debt. With this rise in debt, JYC currently has AU$4.0m remaining in cash and short-term investments to keep the business going. Moreover, JYC has produced AU$8.7m in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 78%, signalling that JYC’s operating cash is sufficient to cover its debt.
Looking at JYC’s AU$14m in current liabilities, it appears that the company may not be able to easily meet these obligations given the level of current assets of AU$12m, with a current ratio of 0.84x. The current ratio is the number you get when you divide current assets by current liabilities.
With a debt-to-equity ratio of 40%, JYC's debt level may be seen as prudent. This range is considered safe as JYC is not taking on too much debt obligation, which can be restrictive and risky for equity-holders. We can check to see whether JYC is able to meet its debt obligations by looking at the net interest coverage ratio. A company generating earnings before interest and tax (EBIT) at least three times its net interest payments is considered financially sound. In JYC's, case, the ratio of 35.58x suggests that interest is comfortably covered, which means that debtors may be willing to loan the company more money, giving JYC ample headroom to grow its debt facilities.
JYC’s high cash coverage and appropriate debt levels indicate its ability to utilise its borrowings efficiently in order to generate ample cash flow. Though its lack of liquidity raises questions over current asset management practices for the small-cap. Keep in mind I haven't considered other factors such as how JYC has been performing in the past. I suggest you continue to research Joyce to get a more holistic view of the stock by looking at:
1. Future Outlook: What are well-informed industry analysts predicting for JYC’s future growth? Take a look at ourfree research report of analyst consensusfor JYC’s outlook.
2. Valuation: What is JYC 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 JYC 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. |
https://finance.yahoo.com/news/u-income-inequality-national-emergency-213000751.html | 2019-04-04 21:30:00+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | U.S. income inequality a 'national emergency' -billionaire Ray Dalio | By David Randall
NEW YORK, April 4 (Reuters) - Widening income inequality and under-investment in public education "pose an existential risk for the U.S.," hedge fund billionaire Ray Dalio wrote in a paper released Thursday.
Dalio, who Forbes lists as the 57th-richest person in the world with an estimated fortune of $18.4 billion from founding hedge fund giant Bridgewater Associates, released a report Thursday in which he spells out the ways he sees capitalism as failing in the United States. In the report, Dalio advocates for an increase in investments in early childhood education, per-pupil spending, infrastructure, and public health measures in order to save it.
Chief among Dalio's criticisms are the widening wealth gap in the United States, which he links to lower high school graduation rates, greater disparity in test scores, and lower teacher pay compared with those with similar education levels over the last three decades.
"To me, leaving so many children in poverty and not educating them well is the equivalent of child abuse, and it is economically stupid," Dalio wrote.
The increasing use of automation to replace workers and the wealth-effect of lower interest rate policies by the Federal Reserve which have increased the value of equities and property will continue to compound this problem, which will make the 2020 presidential election "a hell of a battle," Dalio wrote. Yet by taxing pollution and other societal ills, the United States can strengthen the capitalist system without replacing it, Dalio argued.
The move by Dalio to publish his essay comes approximately two months after Starbucks founder Howard Schultz, who Forbes estimates has a net worth of $3.7 billion, said he was considering a bid for the White House as an independent in order to address the "crisis of capitalism in this country." (Reporting by David Randall; Editing by Jennifer Ablan and Diane Craft) |
https://finance.yahoo.com/news/aldi-launching-line-100-calorie-213004704.html | 2019-04-04 21:30:04+00:00 | null | null | Cooking Light | http://www.cookinglight.com/ | ALDI Is Launching a Line of 100-Calorie Alcoholic Seltzers | We love ALDI for many reasons—namely their affordable groceries , their sustainability efforts , their underrated wine and of course their famous "Aldi Finds" section . But among their many healthy foods there's a new grocery item we can't wait to stock up on the next time we’re there—Vista Bay Hard Seltzer. You may have seen hard seltzers cropping up because they’re lower in calories and sugar than a lot of other alcoholic drinks, while still packing refreshing taste and yummy flavor ( here's a list of our current favorites ). And they’re convenient—most come in cans, so they’re totally portable (and perfect for hot days at the beach or pool!) So you can understand why we were excited to see ALDI come out with their own line of hard seltzers yesterday. The line comes in four refreshing flavors: Black Cherry, Lime, Ruby Grapefruit, and Coconut Mango (which is an ALDI-exclusive product!) Each can of this boozy beverage has just 100 calories, and you probably won’t be surprised to hear that a six-pack will only set you back $5.89. The only bad thing? You have to wait until they hit stores on May 2 to snag ‘em. For less than a dollar a drink, we’re officially ditching our beers and saving these for summer evenings! |
https://finance.yahoo.com/news/target-date-funds-know-213038595.html | 2019-04-04 21:30:38+00:00 | [] | Andrea Coombes | SmartAsset | https://smartasset.com/ | Target-Date Funds: What You Need to Know | There’s more than $1 trillion in client assets invested in target-date funds (TDFs), according to a 2018 report from Morningstar, . In fact, it’s likely your401(k)or IRA offers a target-date fund as an investment option. This makes TDFs extremely accessible retirement savings options. The beauty of these funds is that there’s a plethora of different investing strategies available, allowing you to pick which one you prefer. But, like anything else in finance, these investments don’t come without their pitfalls. Here’s a breakdown of what you need to know about target-date funds.
What Is a Target-Date Fund?
A target-date fund works like amutual fundin that it offers a one-stop shop for retirement investing. As their name indicates, target-date funds are collections of investments that are designed to mature at a certain time. You’ll pick your fund based on your intended retirement date, as they are usually divided into multi-year intervals. When it comes to investments, target-date funds typically invest in a mix of stocks, bonds, mutual funds,exchange-traded funds(ETFs) and more. In general, as you near your retirement date, the fund will adjust its asset allocation to become more conservative.
Target-date funds are increasing in popularity every year. Employers are even integrating target-date funds into their defaultretirement planinvestment choices for new workers. But is this “set it and forget it” option a smart choice? The answer to this question depends on the target-date fund in which you ultimately invest.
What to Look For in a Target-Date Fund
When selecting a target-date fund to invest in, the first step is to learn the fund’s investing strategy. Research the different target-date fund options available to you, and compare different fund managers’ investing strategies. This is a vital step, as the professional management that target-date funds offer is a double-edged sword. On one hand, someone who likely has ample investing experience is taking care of your investments. But on the flip side, these managers have no personal connection to you like, say, afinancial advisorwould.
If this style works for you, try to evaluate whether or not a fund’s asset allocation is in line with your preferences. Funds will usually invest in a few types of securities, namelydomestic and international stocks, bonds and fixed-income securities, ETFs and more. Generally speaking, a fund that’s heavy in stocks is high-risk, high-reward, whereas a fund with mostly fixed-income is traditionally low-risk, low-reward. Beyond this, take a look at the industries and markets that a fund centers its investments around.
It’s also imperative to study a fund’s “glide path” when doing your research. This term refers to how the fund’s investments will change over time, or, more specifically, how it will make its transition from riskier to safer as you near retirement. For the most part, you want to decrease exposure to stocks as you prepare to withdraw money in retirement, though this isn’t necessarily the philosophy of every fund. Lastly, the performance history of any fund is likely to be one of its main indicators for future success.
Like any investment, fees play a part in how profitable a target-date fund can be. Fee schedules vary wildly from company to company, as no fund invests in the same securities. Make sure you take the time to compare costs before you buy in.
Pros and Cons of Target-Date Funds
If you’re unwilling or unable to take the time to pick investments, target-date funds can be a viable Plan B. You get easy access to adiversified portfolio, which will be automatically rebalanced for you. This hands-free style is backed by real investing knowledge, though strong returns are never guaranteed. The ability to pick a fund that invests according to the year you plan to retire is also an extremely practical perk.
On the downside, target-date funds are not immune to typical market shifts. Just because investment professionals control these funds doesn’t mean that declines are impossible. As a matter of fact, a 2018 report from Reuters indicated that some of the largest funds experienced drop-offs of more than 1.00%.
Examples of Target-Date Funds
Many large companies exist in the target-date fund market, including Vanguard and Fidelity. Remember that although these brands attempt to remain on target with theirasset allocations, there is some variance. Here are a few of the largest retirement-centric target-date funds available today:
Target-Date Fund Options Fund Name Target Asset Allocation Vanguard Target Retirement Income Funds 70% stocks and 30% bonds Fidelity Freedom® Index Income Fund 55% bonds, 25% short-term debt, 14% domestic equities and 6% international equities TIAA-CREF Lifecycle Retirement Income Fund 60% fixed-income, 35% stocks and 5% direct real estate JPMorgan SmartRetirement® Income Fund 62% fixed-income, 30% equities, 3.50% money-market, 2.50% ETFs and 2% “specialty” investmentsShould I Invest in Target-Date Funds?
Target-date funds are as simple and easy as any retirement savings product you’ll come across. They provide effortless access to professional money management, though you do lose the personal side of things. However, companies design target-date funds to be your sole retirement investment, which takes away the stress of building your own portfolio.
The potential benefits aside, target-date funds aren’t for everyone. Their set-it-and-forget-it approach could make some investors feel out of control of their savings. And there are other portfolio strategies can that can surpass the returns of these funds. In the end, the choice of whether or not to invest in a target-date fund is personal, and therefore your internal considerations must be of paramount importance.
Tips for Your Retirement Savings
• Although Social Security likely won’t afford you enough money to fund your entire retirement, it can help quite a bit. In turn, it’s important to include your projected Social Security earnings in your retirement savings projections. To get a glimpse as to what you can expect, visit the SmartAssetSocial Security calculator.
• Financial advisors deal with large areas of financial management, including investing, financial planning and more. If you’d like a financial advisor to aid you in your retirement savings journey, SmartAsset’sadvisor matching toolcan help you find some local options. All you need to do is answer a short questionnaire to get your three local matches.
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https://finance.yahoo.com/news/emerging-markets-latam-stocks-fx-213200133.html | 2019-04-04 21:32:00+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | EMERGING MARKETS-Latam stocks, FX broadly rise, Brazil and Mexico shine | (Recasts throughout, updates prices, adds strategist's quote) By Aaron Saldanha April 4 (Reuters) - Most Latin American stock markets and currencies rose on Thursday, with assets in Brazil gaining on hopes of smooth progress on pension reform, while their Mexican peers firmed on broadly positive political developments with the United States.
Brazilian President Jair Bolsonaro met fellow politicians in a bid to build support to pass his government's proposal to reform the country's bloated pension system, seen by investors as crucial to trim Brazil's wide fiscal deficit.
MSCI's index of Latin American stocks rose 1.2 percent. Each country's bourse gained at least as much as the regional benchmark, with the exception of Colombia's.
Sao Paulo-traded stocks tacked on 1.9 percent, clocking broad-based gains in their best one-day performance in two weeks. The index more than made up ground lost in Wednesday's 0.9 percent slide.
Rafael Bevilacqua, chief strategist at investment consultancy Levante, said the performance was a combination of a recovery from the previous session's losses and optimism around the government's attempt to articulate its reform proposal.
Common shares and preferred shares of state-run oil giant Petroleo Brasileiro SA (Petrobras) jumped 3.3 percent and 3.4 percent, respectively.
Brazil's mines and energy minister said he is optimistic there will be a deal by next week resolving the government's dispute with Petrobras over the offshore oil-producing zone known as the transfer of rights area.
Petrobras is expected to receive a multibillion-dollar payment from the government to resolve a dispute over a 2010 deal granting the firm rights to extract oil in the area.
Shares of miner Vale SA rose 0.7 percent, following part of a rise seen in Dalian-traded iron ore futures earlier in the global day.
Brazil's real strengthened 0.4 percent, while yields on its local, 10-year bonds dipped to 8.93 percent.
Mexican stocks rose 1.4 percent while the peso firmed 0.4 percent.
U.S. President Donald Trump said a "lot of good things are happening in Mexico." Trump, however, threatened to apply tariffs at 25 percent on car imports from Mexico unless the country did more to stop drug trafficking.
Chilean stocks gained 1.2 percent, matching the rise on Argentina's stocks benchmark, which partly recovered from Wednesday's 3.8 percent drubbing.
Argentina's peso slid. Industrial output in February slid 8.5 percent, data showed, marking the tenth straight month of declines.
Colombia's stocks were the exception to regional optimism on the day, dipping 0.1 percent, while the local peso weakened 0.2 percent.
Key Latin American stock indexes and currencies at 2056 GMT Stock indexes daily % Latest change MSCI Emerging Markets 1080.73 0.09 MSCI LatAm 2797.34 1.18 Brazil Bovespa 96313.06 1.93 Mexico IPC 43937.39 1.38 Chile IPSA 5283.70 1.16 Argentina MerVal 32142.47 1.19 Colombia IGBC 13040.09 -0.1 Currencies daily % change Latest Brazil real 3.8562 0.01 Mexico peso 19.1450 0.34 Chile peso 665.5 0.15 Colombia peso 3127.93 -0.22 Peru sol 3.296 -0.03 Argentina peso (interbank) 43.3900 -1.18 (Reporting by Aaron Saldanha in Bengaluru, Additional reporting by Stefani Inouye in Sao Paulo) |
https://finance.yahoo.com/news/factbox-elon-musk-unabridged-twitter-100256594.html | 2019-04-04 21:32:29+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Factbox: Elon Musk, unabridged, on Twitter | By Jonathan Stempel
NEW YORK (Reuters) - Tesla Inc Chief Executive Elon Musk is a prolific user of Twitter, and a federal judge on Thursday urged him to settle contempt allegations brought by the U.S. Securities and Exchange Commission over one of his tweets.
The SEC accused Musk of violating his Oct. 2018 fraud settlement with the regulator by posting an Feb. 19 update about Tesla's production outlook without first getting required approval from lawyers for the electric car maker.
Musk countered that the tweet contained nothing new and did not need advance approval.
U.S. District Judge Alison Nathan in Manhattan gave Musk and the SEC two weeks to work out their differences before she rules.
The following is a sampling of some of Musk's more notable posts on Twitter, where he has more than 25.6 million followers.
"Tesla made 0 cars in 2011, but will make around 500k in 2019." -- Feb. 19, 2019. The tweet that prompted the SEC contempt motion. Musk has said the tweet merely restated outlook he provided on a Jan. 30, 2019 conference call, when he said production "may be on the order of 350,000 to 500,000 Model 3s, something like that this year."
"Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" -- Oct. 4, 2018. Musk was attacking both the SEC and short-sellers by renaming the regulator just one week after being sued over the "funding secured" tweet. Twelve days after this tweet, he and Tesla reached their settlement with the SEC.
"Am considering taking Tesla private at $420. Funding secured." -- Aug. 7, 2018. The tweet that prompted the SEC lawsuit. Musk was not close to taking Tesla private, and had not lined up financing. Tesla's share price traded as much as 13.3 percent higher following the tweet, which occurred during market hours. Musk tweeted on Aug. 24, 2018 that Tesla would remain public.
"They have about three weeks before their short position explodes" -- June 17, 2018. Musk frequently uses Twitter to attack short-sellers betting that Tesla's share price will go down. He was responding to a tweet suggesting that short-sellers were "freaking out" about suspected problems on Tesla's production line.
"Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally bankrupt. So bankrupt, you can't believe it." -- April 1, 2018. Some investors appeared to believe it. A day after the April Fool's Day prank, Tesla's share price fell 5.1 percent.
"When the zombie apocalypse happens, you’ll be glad you bought a flamethrower. Works against hordes of the undead or your money back!" -- Jan. 27, 2018. Musk's Boring Co sold flamethrowers and hats to raise funds to build underground tunnels for its hyperloop transportation project.
"I've talked to Mark about this. His understanding of the subject is limited." -- July 25, 2017. Musk was targeting Facebook Inc Chief Executive Mark Zuckerberg, who had downplayed Musk's warnings about the danger of artificial intelligence.
"A little red wine, vintage record, some Ambien ... and magic!" -- June 6, 2017. In an interview with the New York Times in August 2018, Musk said he takes Ambien and was having problems sleeping because of stress from his job.
"The rumor that I'm building a spaceship to get back to my home planet Mars is totally untrue" -- March 12, 2015. Musk has said he wanted his company SpaceX to develop a rocket capable of an unpiloted trip to Mars in 2022, with a crewed flight two years later.
(Reporting by Jonathan Stempel in New York; Editing by Lisa Shumaker) |
https://finance.yahoo.com/news/3-things-acuity-brands-apos-213300945.html | 2019-04-04 21:33:00+00:00 | [] | Asit Sharma, The Motley Fool | Motley Fool | http://www.fool.com/ | 3 Things Acuity Brands' Management Wants Investors to Know | In its fiscal second-quarter 2019 earnings report, released this week,Acuity Brands(NYSE: AYI)demonstrated to investors thatit's successfully navigating the impacts of import tariffsthrough a combination of strategic pricing and productivity initiatives. The commercial and industrial lighting and controls manufacturer also provided deeper insight into its profit margins and current product innovation. Below, let's review three comments made by CEO Vern Nagel during the company'searnings conference callthat address and illuminate these topics.
Our rate of growth over this time period was far in excess of the overall growth rate of the lighting industry in North America, which we believe was up low single digits.-- CEO Vern Nagel
The time period Nagel references here is the first half of fiscal 2019, when the company booked a year-over-year revenue advance of 6.7% (versus a 2.7% year-over-year revenue increase in the recently concluded second quarter).
Acuity believes that the first half of the fiscal year provides a more accurate sales gauge than the second quarter, as significant customers pulled orders forward in the first quarter to avoid impending price increases that Acuity instituted to offset rising costs from import tariffs.
In addition, while Acuity sells its lighting, controls, and Internet of Things (IoT) "smart building" platforms internationally, it benchmarks its progress against its largest geographical region, North America.
The company expects the North American lighting market to grow in the low single digits for the remainder of its fiscal year, and is poised to exceed this benchmark throughout the year.
Management intends to outpace the market's growth over the longer term in part through its investments in data capture and analytics. In its approach to lighting and controls, Acuity seeks to assist organizations in "transforming buildings and campuses from cost centers to strategic assets."
Image source: Getty Images.
While our overall net sales of products sold through the retail channel were up 4% in the second quarter, net sales by key customers within this channel changed significantly. Each of our key customers in this channel have different service requirements, which impact how we account for these differences under generally accepted accounting principles. We believe the impact of this customer shift within this channel accounted for a large portion of the decline in overall adjusted gross profit margin in the second quarter compared with the year-ago period.-- Nagel
Acuity's adjustedgross margindipped by 100basis pointsyear over year to 39.2% in the second quarter, primarily because of the factor Nagel cites above: Certain customers in the company's retail channel shifted their service requirements, causing the company to reclassify income and expense amounts according toGAAP.
While this is a long-term, though not huge, headwind on gross margin, both Nagel and CFO Ricky Reece went on to explain that Acuity has an offset to this pressure in the form of lower selling, distribution, and administrative (SD&A) expense.
Specifically, the shift in retail channel service revenue resulted in lower freight and commission costs during the quarter, and this dynamic is expected to continue. In addition to productivity initiatives aimed at reducing overhead expenses, management advised investors to expect a shift in efficiency from gross margin to SD&A for the foreseeable future. In other words, the company intends to fully absorb a gross profit decline through leaner selling, distribution, and administrative operations.
[W]e are always striving to improve our profitability through our continuous improvement efforts. However, we believe for any meaningful gross profit margin improvement to occur, we will need to continue to capture our implemented price increases, as well as experience an acceleration in market demand for more technology-enabled lighting solutions, particularly for larger commercial projects where our contribution margins are more favorable due to the complex nature of these types of projects.-- Nagel
Increasingly, Acuity views itself as a technology company as much as a manufacturing concern. This is partly out of necessity: The organization has been compelled to invest in cutting-edge technology to preserve profitability as its products are challenged by a raft of cheaper lighting alternatives, many of them from Chinese companies that enjoy government subsidies.
Thus, Acuity is enhancing Atrius, its higher-margin, IoT platform for commercial and industrial buildings. The company has seen an increase in uptake of this smart-building line of products among major U.S. retailers. Nagel noted during the earnings call that Acuity was becoming an industry standard for retailers seeking IoT-based luminaire (complete electric lighting unit) systems.
Similarly, late last year, Acuity introduced its feature-rich wireless controls system, dubbed nLight AIR. The company reported strong customer demand for this commercial product in the second quarter.
While it may take several quarters, or even a few years, for the company's next-generation lighting and controls platforms to reach enough scale to significantly impact margins, they'll ultimately create much shareholder value if successful. More importantly, such investments will help remove Acuity further from the ever-present condition of having to compete primarily on price.
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Asit Sharmahas 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. |
https://finance.yahoo.com/news/early-signs-autism-babies-213356740.html | 2019-04-04 21:33:56+00:00 | null | null | Parents | https://www.parents.com/ | Early Signs of Autism in Babies | Cultura Motion/Shutterstock Watching your baby grow is an unforgettable experience. But while every child develops at her own level, failing to reach certain milestones could raise red flags. Some parents recognize signs of autism spectrum disorder (ASD) when their baby is around 6-12 months and sometimes even earlier, says Dr. Tom Frazier, Chief Science Officer of Autism Speaks . Here are the early signs of autism in babies, and why prompt diagnosis is key to treating the condition. What is Autism? A defect of the brain, autism is a complex developmental disability that affects social skills like playing, learning, and communicating. Individual cases of autism fall on a spectrum ranging from mild to severe. A December 2018 report from the American Academy of Pediatrics estimated autism affects one in 40 U.S. kids today. RELATED: Preventing Autism in Pregnancy: Is it Possible? Doctors dont know exactly what causes autism , but its believed to be a combination of environmental and genetic factors. Certain circumstances also raise a childs chance of developing autism. For example, if you have a sibling with autism, your risk of developing it increases to about 20% on average, says Dr. Frazier. He states that other risk factors include premature birth , low birth weight, delivery complications, and having older parents. Signs of Autism in Babies Some parents recognize autism signs when their child is 6-12 months old, depending on the symptoms and their severity. Pay attention to whether or not the baby is reacting to social information and the environment. Within the first year of life, babies start to babble and use gestures like pointing , says Dr. Frazier, adding that babies may also smile at their caregivers. Baby noises should have some social function as well, and they should try communicating with parents. Babies with autism sometimes fail to communicate through sounds or gestures, and they may appear not to recognize social stimulation. Here are other early signs of autism, according to the Centers for Disease Control and Prevention (CDC). Story continues RELATED: Signs of Autism in Toddlers She doesn't follow moving objects with her eyes : Babies at high risk for autism dont follow caregivers as they move in the visual field, says Dr. Frazier. They may be more intrigued by something like a blanket. She doesn't respond to loud noises. She doesn't grasp and hold objects. She doesn't smile at people . She doesn't babble. She doesn't pay attention to new faces She doesn't turn her head to locate where sounds are coming from. She shows no affection for you. She doesn't laugh or make squealing sounds. She doesn't reach for objects. She doesn't smile on her own. She doesn't try to attract attention through actions. She doesn't have any interest in games such as peekaboo. She doesn't crawl. She doesn't say single words. She doesn't use gestures such as waving or shaking her head. She doesn't point to objects or pictures. She can't stand when supported. It's important to note that these criteria aren't conclusive evidence of autism. "Theyre simply things we look for to determine if we need to further assess the baby, says Mandi Silverman, PsyD, MBA, Senior Director of the Autism Center at the Child Mind Institute . Another social or developmental factor may be to blame. If your child has signs of autism, Dr. Frazier advises scheduling a visit to your pediatrician right away. Youll discuss developmental concerns, and the doctor will evaluate your baby for autism. We have evidence that suggests the quicker you can get a diagnosis, the earlier you can enroll in developmental and behavioral interventions, says Dr. Frazier. RELATED: Does Your Child Need Early Intervention? Early intervention is meant help your baby cope with his autism symptoms and possibly even reverse them. As your child gets older, intervention might include speech therapy , occupational therapy, mental health counseling, and whatever else experts believe will help your child thrive. The ultimate goal is "making the symptoms more manageable and enhancing life as much as possible," says Silverman. |
https://finance.yahoo.com/news/facebook-vows-block-foreign-ad-203834855.html | 2019-04-04 21:35:32+00:00 | null | null | Reuters | https://www.reuters.com/ | Facebook vows to block foreign ad-buying during Australia's election | SYDNEY (Reuters) - Social media giant Facebook Inc said on Friday it would block electoral advertisements purchased outside Australia from being displayed there ahead of a national election due in May. The move, along with other measures to combat misinformation comes with the company and social media firms around the world, under pressure to rid their platforms of fake news and nefarious political meddling. "Combating foreign interference is a key pillar of our approach to safeguarding elections on our platform," Mia Garlick, Facebook's Director of Policy for Australia and New Zealand, said in a statement. "We're temporarily not allowing electoral ads purchased from outside Australia ahead of the election in May," she said, adding that would include content mentioning political parties, politicians, slogans and logos. Facebook and Alphabet Inc's Google have been facing political and regulatory scrutiny in Australia and around the world as lawmakers wrestle with the large and growing influence of the powerful online platforms in public life. Policing content has become a massive global problem with no template for consistently preventing fake news online or eliminating it. Fierce internet disinformation battles have gripped countries, such as Brazil and Malaysia last year ahead of elections. Authorities in Indonesia and the EU, which are due to hold polls, have warned of the threat of fake news, while in India, Facebook has partnered with fact checkers and, like Twitter, ramped up efforts to block fake accounts. Facebook said it would launch a fact-checking service in Australia in partnership with news agency Agence France-Presse, and that it would be removing fake accounts and reducing the prominence of sensational stories in its newsfeeds. The company last week banned praise, support and representation of white nationalism and white separatism in the wake of a massacre of 50 people at two mosques in New Zealand that was live-streamed in March. Story continues Australia on Thursday passed new laws allowing big fines for social media firms and jail terms for executives if violent content is not removed quickly, in response to the attack. Australia's competition watchdog is also pressing for much tougher scrutiny - as well as a new regulatory body - to check the dominance of Facebook and Google in online advertising and news distribution, something the companies are actively resisting. Australia's major political parties had no immediate comment on Friday. Prime Minister Scott Morrison is expected to imminently call a general election due by the end of May. (Reporting by Tom Westbrook; editing by David Gregorio and G Crosse) |
https://finance.yahoo.com/news/teleflex-incorporated-tfx-good-stock-213732770.html | 2019-04-04 21:37:32+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Is Teleflex Incorporated (TFX) A Good Stock To Buy? | While the market driven by short-term sentiment influenced by uncertainty regarding the future of the interest rate environment in the US, declining oil prices and the trade war with China, many smart money investors kept their optimism regarding the current bull run in the fourth quarter, while still hedging many of their long positions. However, as we know, big investors usually buy stocks with strong fundamentals, which is why we believe we can profit from imitating them. In this article, we are going to take a look at the smart money sentiment surrounding Teleflex Incorporated (NYSE:TFX).
Teleflex Incorporated (NYSE:TFX)was in 15 hedge funds' portfolios at the end of December. TFX has seen a decrease in activity from the world's largest hedge funds of late. There were 17 hedge funds in our database with TFX holdings at the end of the previous quarter. Our calculations also showed that TFX isn't among the30 most popular stocks among hedge funds.
In the financial world there are a large number of metrics shareholders have at their disposal to assess publicly traded companies. A couple of the most useful metrics are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the elite fund managers can trounce the S&P 500 by a very impressive margin (see the details here).
Let's take a gander at the latest hedge fund action regarding Teleflex Incorporated (NYSE:TFX).
Heading into the first quarter of 2019, a total of 15 of the hedge funds tracked by Insider Monkey were long this stock, a change of -12% from the second quarter of 2018. By comparison, 23 hedge funds held shares or bullish call options in TFX a year ago. With hedge funds' positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their holdings considerably (or already accumulated large positions).
Among these funds,Select Equity Groupheld the most valuable stake in Teleflex Incorporated (NYSE:TFX), which was worth $291.2 million at the end of the third quarter. On the second spot was Marshall Wace LLP which amassed $151 million worth of shares. Moreover, Point72 Asset Management, Rock Springs Capital Management, and Renaissance Technologies were also bullish on Teleflex Incorporated (NYSE:TFX), allocating a large percentage of their portfolios to this stock.
Because Teleflex Incorporated (NYSE:TFX) has experienced bearish sentiment from the smart money, we can see that there was a specific group of money managers that elected to cut their entire stakes last quarter. Interestingly, Anand Parekh'sAlyeska Investment Groupdumped the biggest stake of the 700 funds followed by Insider Monkey, valued at about $46.3 million in stock, and Samuel Isaly's OrbiMed Advisors was right behind this move, as the fund cut about $41.9 million worth. These transactions are interesting, as total hedge fund interest was cut by 2 funds last quarter.
Let's check out hedge fund activity in other stocks - not necessarily in the same industry as Teleflex Incorporated (NYSE:TFX) but similarly valued. These stocks are Rollins, Inc. (NYSE:ROL), Altice USA, Inc. (NYSE:ATUS), WellCare Health Plans, Inc. (NYSE:WCG), and Vornado Realty Trust (NYSE:VNO). All of these stocks' market caps are closest to TFX's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position ROL,22,269805,5 ATUS,51,1375717,4 WCG,39,955525,4 VNO,23,336593,-2 Average,33.75,734410,2.75 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 33.75 hedge funds with bullish positions and the average amount invested in these stocks was $734 million. That figure was $597 million in TFX's case. Altice USA, Inc. (NYSE:ATUS) is the most popular stock in this table. On the other hand Rollins, Inc. (NYSE:ROL) is the least popular one with only 22 bullish hedge fund positions. Compared to these stocks Teleflex Incorporated (NYSE:TFX) is even less popular than ROL. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. A few hedge funds were also right about betting on TFX, though not to the same extent, as the stock returned 17.3% and outperformed the market as well.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/boeing-ceo-acknowledges-first-time-213806069.html | 2019-04-04 21:38:06+00:00 | [] | Maggie Fitzgerald | CNBC | http://www.cnbc.com/ | Boeing CEO acknowledges — for the first time — that bad data played role in 737 Max crashes | • For the first time, Boeing admits that an automated flight system played a role in both 737 Max crashes.
• Pilots say that false activation of the MCAS function, as happened here, "can add to what is already a high workload environment."
Boeing BA CEO Dennis Muilenburg acknowledged, for the first time, that bad data feeding into an automated flight system on the company's popular 737 jets played a role in two crashes that killed 346 people after Ethiopian aviation officials said their investigation found no pilot error in a March 10 crash in Addis Ababa.
"But with the release of the preliminary report of the Ethiopian Airlines flight 302 accident investigation it's apparent that in both flights the Maneuvering Characteristics Augmentation System, known as MCAS, activated in response to erroneous angle of attack information," Muilenberg said in a statement and video that was posted to the company's Twitter account Thursday.
The Ethiopian plane, which crashed just six minutes after take off from Addis Ababa, followed a similar flight pattern as a Lion Air flight that went down in Indonesia's Java Sea and killed all 189 passengers and crew in October. Pilots of both planes appear to have had trouble regaining control of the aircraft after an automated flight control system, called MCAS, pushed the nose of the jets down to keep them from stalling.
"The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft," Ethiopian Transport Minister Dagmawit Moges told reporters at a news conference earlier Thursday .
Investigators found that pilots on the Ethiopian flight turned the anti-stall system off and back on again to try to regain control of the plane, casting doubt on Boeing BA and the Federal Aviation Administration 's assertions that the crash may have been avoided had pilots simply followed established safety procedures.
Moges didn't specifically blame the MCAS software. However, she said it needed to be reviewed before the planes, which have been grounded since mid-March, are allowed to fly again.
"Since repetitive uncommanded aircraft nose-down conditions are noticed ... it is recommend that the aircraft control system shall be reviewed by the manufacturer," Dagmawit said. She also suggested that the aviation authority ensures the jet's flight control system is reviewed by Boeing before the jets are allowed to fly again.
Boeing and the Federal Aviation Administration had previously been trying to pin responsibility on the pilots.
Muilenberg said pilots say that false activation of the MCAS function, as happened in the Ethiopian crash, "can add to what is already a high workload environment."
"It's our responsibility to eliminate this risk. We own it and we know how to do it," said Muilenburg.
Muilenburg also said "we're deeply saddened by and are sorry for the pain these accidents have caused worldwide."
The company is taking a "comprehensive" and "disciplined" approach to get the software update right. Boeing anticipates its certification and implementation "in the weeks ahead." Muilenburg said Boeing remains confident in the fundamental safety of the 737 Max, which have been grounded since mid-March.
"When the MAX returns to the skies with the software changes to the MCAS function, it will be among the safest airplanes ever to fly," he said.
Muilenburg tweeted the video here:
tweet
Boeing stock closed up about by about 3 percent on Thursday.
WATCH: Ethiopian pilots reportedly followed procedures in Boeing 737 Max crash
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https://finance.yahoo.com/news/were-hedge-funds-flocking-icahn-213826743.html | 2019-04-04 21:38:26+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Were Hedge Funds Right About Flocking Into Icahn Enterprises LP (IEP) ? | A market correction in the fourth quarter, spurred by a number of global macroeconomic concerns and rising interest rates ended up having a negative impact on the markets and many hedge funds as a result. The stocks of smaller companies were especially hard hit during this time as investors fled to investments seen as being safer. This is evident in the fact that the Russell 2000 ETF underperformed the S&P 500 ETF by nearly 7 percentage points during the fourth quarter. We also received indications that hedge funds were trimming their positions amid the market volatility and uncertainty, and given their greater inclination towards smaller cap stocks than other investors, it follows that a stronger sell-off occurred in those stocks. Let's study the hedge fund sentiment to see how those concerns affected their ownership of Icahn Enterprises LP (NASDAQ:IEP) during the quarter.
Icahn Enterprises LP (NASDAQ:IEP)was in 6 hedge funds' portfolios at the end of the fourth quarter of 2018. IEP has experienced an increase in activity from the world's largest hedge funds of late. There were 4 hedge funds in our database with IEP holdings at the end of the previous quarter. Our calculations also showed that IEP isn't among the30 most popular stocks among hedge funds.
Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 32 percentage points since May 2014 through March 12, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.
We're going to go over the key hedge fund action regarding Icahn Enterprises LP (NASDAQ:IEP).
At Q4's end, a total of 6 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 50% from the second quarter of 2018. On the other hand, there were a total of 5 hedge funds with a bullish position in IEP a year ago. With hedge funds' sentiment swirling, there exists a few key hedge fund managers who were upping their stakes substantially (or already accumulated large positions).
More specifically,Icahn Capital LPwas the largest shareholder of Icahn Enterprises LP (NASDAQ:IEP), with a stake worth $10014.2 million reported as of the end of September. Trailing Icahn Capital LP was Horizon Asset Management, which amassed a stake valued at $116.7 million. Renaissance Technologies, Citadel Investment Group, and McKinley Capital Management were also very fond of the stock, giving the stock large weights in their portfolios.
As aggregate interest increased, key hedge funds have jumped into Icahn Enterprises LP (NASDAQ:IEP) headfirst.Renaissance Technologies, managed by Jim Simons, created the most valuable position in Icahn Enterprises LP (NASDAQ:IEP). Renaissance Technologies had $3.5 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace'sMarshall Wace LLPalso initiated a $0.3 million position during the quarter.
Let's go over hedge fund activity in other stocks - not necessarily in the same industry as Icahn Enterprises LP (NASDAQ:IEP) but similarly valued. We will take a look at DexCom, Inc. (NASDAQ:DXCM), Marvell Technology Group Ltd. (NASDAQ:MRVL), The J.M. Smucker Company (NYSE:SJM), and Devon Energy Corp (NYSE:DVN). This group of stocks' market values match IEP's market value.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position DXCM,31,738361,1 MRVL,35,1328538,4 SJM,20,272592,-6 DVN,42,1168927,-5 Average,32,877105,-1.5 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 32 hedge funds with bullish positions and the average amount invested in these stocks was $877 million. That figure was $10138 million in IEP's case. Devon Energy Corp (NYSE:DVN) is the most popular stock in this table. On the other hand The J.M. Smucker Company (NYSE:SJM) is the least popular one with only 20 bullish hedge fund positions. Compared to these stocks Icahn Enterprises LP (NASDAQ:IEP) is even less popular than SJM. Considering that hedge funds aren't fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn't behind this stock. This isn't necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Hedge funds were also right about betting on IEP as the stock returned 30.6% and outperformed the market as well. You can see the entire list of these shrewd hedge funds here.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/britney-spears-mental-health-career-214005122.html | 2019-04-04 21:40:05+00:00 | null | null | Yahoo Celebrity | https://www.yahoo.com/celebrity | What Britney has said about her mental health | Britney Spears attends the announcement of her new residency, 'Britney: Domination' on October 18, 2018 in Las Vegas, Nevada. (Photo: Ethan Miller/Getty Images) Britney Spears is seeking treatment for her mental health and that's a really good thing. It's been over a decade since the 37-year-old pop icon experienced a very public breakdown , which launched into speculation over her emotional well being. It was reported that Spears was suffering from bipolar disorder following her 2008 hospitalization, but never confirmed by the singer. However, she has been open about battling anxiety and how not getting help in her 20s lead her to an unhealthy space. "From an early age I always felt that everyone was testing me. If [something] was not in place, it would have been enough to get me to this point of anxiety," Spears reflected in a 2017 interview with Israeli newspaper, Yediot Ahronot . I could get overwhelmed by a lot of very small, disproportionate things." She added, "I think I had to give myself more breaks through my career and take responsibility for my mental health." Spears said that in her 20s, there were plenty of decisions made for her that she wouldnt have necessarily made for herself. When the journalist described her as being "overprotected" during that time period, she agreed. My life was controlled by too many people and that doesnt really let you be yourself, she explained. In that situation, when youre not in control, you become less excited, and theres less passion when it comes to music. I wrote back then that I was lost and didnt know what to do with myself. I was trying to please everyone around me because thats who I am deep inside. There are moments where I look back and think: What the hell was I thinking?' I think I had fun when I was younger, she added. I was a pretty normal girl, a tomboy. But my 20s were awful. My 30s are much better for me. Ive learned to get to know myself better. She called that awful period her "toughest years, adding, "Deep inside I wish to be very private, which I believe I am. All this fame is way too much for me, as its really hard to grasp its magnitude. When youre young and in the beginning of your career its understandable that youve just stepped into this world. Story continues I have these moments where I just want to dress up like a normal person and walk in the street. It goes through my mind quite a lot, she explained. In another interview with Marie Claire U.K. , Spears remembered how being "under scrutiny" also contributed to her anxiety issues. "If a hair was out of place, I'd be so anxious. I would get very anxious about so many things," she explained in the 2016 sit-down, saying that feeling would still creep into her personal life. I had a really bad date. I mean, it was really bad. Ive been single for ages and had a date with a guy I liked," she recalled. I was getting anxious, worrying he wouldnt like me. In the evening I got on the scales and I had lost six pounds. Spears credited motherhood with helping conquer her anxiety. Becoming a mother and being with my boys [Sean Preston, 13, Jayden, 12] has made me so much more accepting of myself," she stated. "That has been a really big thing for me over these last few years." The "...Baby One More Time" singer reportedly checked herself into a facility one week ago to focus on her mental health. Spears has apparently been under a lot of stress over her father's life-threatening illness. With Jamie Spears recovering from his second colon surgery, she still has a good support system around her during the difficult time. Spears's mother, Lynne, shared an encouraging post about fighting depression. The singer's boyfriend, Sam Asghari, posted on social media after the reports surfaced Wednesday. View this post on Instagram A post shared by Sam Asghari (@samasghari) on Apr 3, 2019 at 7:55pm PDT As for the singer's sons, they are in the custody of their father, Kevin Federline. "Kevin commends Britney for recognizing that she needs to take a step back and that she is taking the reasonable steps to deal with her situation in a responsible way," his attorney said in a statement . Read more on Yahoo Entertainment: Jeff and MacKenzie Bezos finalize divorce: What we know about their settlement Lori Loughlins smiley appearance at court criticized: This is not red carpet time Kim Kardashian might name her fourth baby Rob Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyles newsletter. |
https://finance.yahoo.com/news/lululemon-athletica-lulu-sailpoint-tech-214009045.html | 2019-04-04 21:40:09+00:00 | [] | Brian Bolan | Zacks | http://www.zacks.com/ | Lululemon Athletica (LULU) and SailPoint Tech (SAIL) Are Aggressive Growth Stocks | Brian Bolan is back with two more names to consider for your aggressive growth radar screen. Both names are Zacks Rank #1 (Strong Buy) which means that they have seen some positive earnings estimate revisions of late. Brian reviews the estimates for each name as well as the valuations in the video. This time around Brian looks t Lululemon Athletica LULU – a name he has profiled at least a time or two before and he even gives a personal anecdote about his recent purchases! Next up is SailPoint Technologies SAIL and Brian believes that this name could make a move back to the recent highs despite some weakness that was seen in the growth names as he was shooting the video.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportlululemon athletica inc. (LULU) : Free Stock Analysis ReportSailPoint Technologies Holdings, Inc. (SAIL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
https://finance.yahoo.com/news/did-hedge-funds-drop-ball-214107959.html | 2019-04-04 21:41:07+00:00 | [] | Asma UL Husna | Insider Monkey | http://www.insidermonkey.com | Did Hedge Funds Drop The Ball On Western Digital Corporation (WDC) ? | Hedge funds are not perfect. They have their bad picks just like everyone else. Facebook, a stock hedge funds have loved, lost nearly 40% of its value at one point in 2018. Although hedge funds are not perfect, their consensus picks do deliver solid returns, however. Our data show the top 15 S&P 500 stocks among hedge funds at the end of December 2018 yielded an average return of 19.7% year-to-date, vs. a gain of 13.1% for the S&P 500 Index. Because hedge funds have a lot of resources and their consensus picks do well, we pay attention to what they think. In this article, we analyze what the elite funds think of Western Digital Corporation (NASDAQ:WDC).
Western Digital Corporation (NASDAQ:WDC)has seen a decrease in hedge fund sentiment in recent months.WDCwas in 25 hedge funds' portfolios at the end of the fourth quarter of 2018. There were 33 hedge funds in our database with WDC positions at the end of the previous quarter. Our calculations also showed that WDC isn't among the30 most popular stocks among hedge funds.
Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 32 percentage points since May 2014 through March 12, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.
We're going to take a look at the new hedge fund action surrounding Western Digital Corporation (NASDAQ:WDC).
At the end of the fourth quarter, a total of 25 of the hedge funds tracked by Insider Monkey were long this stock, a change of -24% from one quarter earlier. The graph below displays the number of hedge funds with bullish position in WDC over the last 14 quarters. So, let's see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Among these funds,Iridian Asset Managementheld the most valuable stake in Western Digital Corporation (NASDAQ:WDC), which was worth $218.9 million at the end of the third quarter. On the second spot was AQR Capital Management which amassed $79.4 million worth of shares. Moreover, Citadel Investment Group, Renaissance Technologies, and D E Shaw were also bullish on Western Digital Corporation (NASDAQ:WDC), allocating a large percentage of their portfolios to this stock.
Due to the fact that Western Digital Corporation (NASDAQ:WDC) has experienced falling interest from the entirety of the hedge funds we track, it's easy to see that there lies a certain "tier" of hedge funds that elected to cut their full holdings last quarter. Intriguingly, Philippe Laffont'sCoatue Managementsaid goodbye to the biggest stake of all the hedgies followed by Insider Monkey, valued at close to $45.5 million in call options. Noam Gottesman's fund,GLG Partners, also dropped its call options, about $29.3 million worth. These transactions are intriguing to say the least, as total hedge fund interest was cut by 8 funds last quarter.
Let's go over hedge fund activity in other stocks - not necessarily in the same industry as Western Digital Corporation (NASDAQ:WDC) but similarly valued. We will take a look at Icahn Enterprises LP (NASDAQ:IEP), DexCom, Inc. (NASDAQ:DXCM), Marvell Technology Group Ltd. (NASDAQ:MRVL), and The J.M. Smucker Company (NYSE:SJM). This group of stocks' market valuations are closest to WDC's market valuation.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position IEP,6,10137794,2 DXCM,31,738361,1 MRVL,35,1328538,4 SJM,20,272592,-6 Average,23,3119321,0.25 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $3119 million. That figure was $566 million in WDC's case. Marvell Technology Group Ltd. (NASDAQ:MRVL) is the most popular stock in this table. On the other hand Icahn Enterprises LP (NASDAQ:IEP) is the least popular one with only 6 bullish hedge fund positions. Western Digital Corporation (NASDAQ:WDC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Hedge funds were also right about betting on WDC as the stock returned 30.1% and outperformed the market as well. You can see the entire list of these shrewd hedge funds here.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/knowles-hires-jpmorgan-activist-defense-source-214128959--finance.html | 2019-04-04 21:41:28+00:00 | [] | By Shariq Khan and Shivani Singh | Reuters | https://www.reuters.com/ | Knowles hires JPMorgan for activist defense: source | By Shariq Khan and Shivani Singh
(Reuters) - Audio components maker Knowles Corp has hired JPMorgan investment bankers to advise it on its defense against demands by shareholders Caligan Partners LP and Falcon Edge Capital LP to seek a review of its Precision Devices unit, according to a source familiar with discussions between the parties.
The source also said the two funds, which together hold more than 6.7 percent of Knowles and are seeking to nominate two new members to its board, are still prepared to work cooperatively with the company on solutions.
Shares in Knowles have risen about 3 percent since Caligan and Falcon went public with their demands at the end of last week, after settlement talks between the shareholders and the company stalled.
JPMorgan's involvement in the conflict was first reported earlier on Thursday by Dealreporter.
The source said the funds were unwilling to agree to demands by Knowles that the funds enter a two-year stand-still agreement in return for a single board seat.
After an overwhelming vote in favor of de-staggering the company's board at its last annual meeting, six of Knowles' board members will be up for re-election at a 2020 shareholders' meeting. A two-year standstill agreement would require the activists to vote in favor of all board proposals till 2021.
While Caligan and Falcon were open to settling for one seat instead of two, the stand-still demand, described as "off-market" in the funds' letter https://thefutureofknowles.com/doc/BoardLetter.pdf dated March 29, was a dealbreaker, the source said.
Caligan and Falcon Edge also posted a presentation (https://bit.ly/2YNXqka) on Wednesday, demanding the company release detailed financials for its struggling Intelligent Audio segment.
The funds said they believe Knowles' stock could reach at least $28 per share in value by the end of the year if the company listened to their feedback.
JPMorgan, Caligan Partners, Falcon Edge and Knowles Corp declined to comment.
(This story corrects headline to remove reference to legal counsel.)
(Reporting by Shariq Khan and Shivani Singh in Bengaluru; Editing by Anil D'Silva) |
https://finance.yahoo.com/news/why-some-states-didnt-adopt-all-of-the-federal-tax-changes-214159296.html | 2019-04-04 21:41:59+00:00 | null | null | Yahoo Finance | http://finance.yahoo.com/ | Why some states didn't adopt all of the federal tax changes | When the Tax Cuts and Jobs Act was passed in 2017, concerns over the impact to taxpayers led some states to decouple, or choose not to follow, certain aspects of the new federal tax law. “Each state, depending on how their tax laws were structured, either ended up with huge amounts of money projected coming in and their residents could have been adversely affected,” says John Lieberman , a certified public accountant in New York City. “This is an unusual country in the sense that we have a federal law and we have a federal tax collection agency, and in addition there are over 3,000 taxing entities in the United States,” he says. “In other countries, there's only one tax authority and tax code that people deal with and they don't have state or provincial taxes.” This means states could choose how to follow and interpret the tax law to their benefit by ignoring the new law or making changes to their own laws, Lieberman says. “Five states went out and cut their state tax rates, they made certain changes for economic incentives—they did their own tax reform, taking into consideration what would be best for the citizens of their state,” Lieberman says. California, Texas, Minnesota, North Carolina, South Carolina, and New Hampshire did not conform to the new law but rather changed their own laws to be more favorable to residents. For example, they have not enacted legislation to revise their conformity dates for when they will have to abide by the new federal tax reform, so previous tax laws are still in affect. New Hampshire increased its business equipment deduction limit from $100,000 to $500,000, which matches last year’s federal limit, as opposed to the current federal limit of $1 million. This causes a lower tax benefit to businesses. "Small businesses may end up paying more in taxes due to state decoupling,” says Ebong Eka, a certified public accountant with Ericorp Consulting . “The states may miss out on additional tax revenues by following federal law.” Story continues Eka says many states disallow bonus depreciation, which is an additional depreciation deduction on property or equipment, even though the IRS allows it on a tax return. “This boosts the tax revenue for the state and costs the small business more money due to a disallowed deduction," he says. Lieberman says New York decoupled completely and decided to follow federal tax law from 2017 instead of changing its tax law. This benefits residents because if federal rules were followed, residents would be taxed on a higher taxable income under the newer rules. Decoupling created a “more level playing field,” Lieberman says. In New York, this means taxpayers can still itemize deductions on their state tax returns that they aren’t allowed to claim on federal their tax returns, such as real estate taxes without limit and unreimbursed business expenses. Lieberman says in using tax software, state codes have been added to incorporate the changes and calculate properly, but often the software is being rewritten as the filing season continues, or more guidance is needed to figure out what Congress actually wanted, causing more headaches for accountants and taxpayers. “The IRS approves how to figure it out, but remember that the IRS was shut down during a critical time period,” Lieberman says. “This new tax code was written very quickly and there's little and large gaps so we're not sure how to interpret so we’re still waiting for some guidance from the IRS.” WATCH MORE How to report IRA conversions on your taxes How to tackle taxes in retirement Tax audits: Where you live could increase chances of an audit |
https://finance.yahoo.com/news/pelosi-says-dems-sue-stop-214306213.html | 2019-04-04 21:43:06+00:00 | [] | Michael Rainey | The Fiscal Times | http://www.thefiscaltimes.com/ | Pelosi Says Dems Will Sue to Stop Trump’s Border Wall Plan | Speaker Nancy Pelosi (D-CA) announced Thursday that the House of Representatives intends to sue to stop President Trump from transferring already appropriated funds to build the border wall with Mexico.
The presidentdeclared a national emergencyin February as part of an attempt to redirect as much as $6.6 billion toward border wall construction. Congress voted to block Trump’s emergency declaration, but Trump vetoed the resolution of disapproval.
Pelosi said that the Bipartisan Legal Advisory Group, a congressional committee that directs the House Office of General Counsel, has voted to authorize a lawsuit challenging Trump’s “decision to transfer funds from appropriated accounts for his border wall” on the grounds that the move violates the Constitution.
“The President’s action clearly violates the Appropriations Clause by stealing from appropriated funds, an action that was not authorized by constitutional or statutory authority. Congress, as Article I – the first branch, co-equal to the other branches – must reassert its exclusive responsibilities reserved by the text of the Constitution and protect our system of checks and balances,” Pelosi said in astatement.
House Majority Leader Steny Hoyer (D-MD) also cited fundamental constitutional issues on the matter. “As a member of the House's Bipartisan Legal Advisory Committee, I voted today to direct the House General Counsel to initiate a lawsuit against the Trump Administration for illegally moving appropriated funds from other priorities to pay for his border wall, which Congress has not authorized,” Hoyer said in a statement. “The House will take all actions necessary to uphold the rule of law and our Constitutional system of separation of powers."
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https://finance.yahoo.com/news/encounter-resources-asx-enr-shareholders-214402345.html | 2019-04-04 21:44:02+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Some Encounter Resources (ASX:ENR) Shareholders Have Copped A Big 53% Share Price Drop | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
It is doubtless a positive to see that theEncounter Resources Limited(ASX:ENR) share price has gained some 68% in the last three months. But don't envy holders -- looking back over 5 years the returns have been really bad. In that time the share price has delivered a rude shock to holders, who find themselves down 53% after a long stretch. Some might say the recent bounce is to be expected after such a bad drop. We'd err towards caution given the long term under-performance.
Check out our latest analysis for Encounter Resources
We don't think Encounter Resources's revenue of AU$541,693 is enough to establish significant demand. We can't help wondering why it's publicly listed so early in its journey. Are venture capitalists not interested? As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. For example, investors may be hoping that Encounter Resources finds some valuable resources, before it runs out of money.
As a general rule, if a company doesn't have much revenue, and it loses money, then it is a high risk investment. The is usually a significant chance that they will need more money for business development, putting them at the mercy of capital markets. So the share price itself impacts the value of the shares (as it determines the cost of capital). While some such companies do very well over the long term, others become hyped up by promoters before eventually falling back down to earth, and going bankrupt (or being recapitalized). Encounter Resources has already given some investors a taste of the bitter losses that high risk investing can cause.
Encounter Resources had net cash of AU$3.0m when it last reported (December 2018). While that's nothing to panic about, there is some possibility the company will raise more capital, especially if profits are not imminent. With the share price down 14% per year, over 5 years, it seems likely that the need for cash is weighing on investors' minds. You can click on the image below to see (in greater detail) how Encounter Resources's cash and debt levels have changed over time.
It can be extremely risky to invest in a company that doesn't even have revenue. There's no way to know its value easily. Given that situation, would you be concerned if it turned out insiders were relentlessly selling stock? It would bother me, that's for sure. It only takes a moment for you tocheck whether we have identified any insider sales recently.
We're pleased to report that Encounter Resources shareholders have received a total shareholder return of 34% over one year. There's no doubt those recent returns are much better than the TSR loss of 14% per year over five years. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. 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 AU exchanges.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [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. |
https://finance.yahoo.com/news/coca-cola-ko-outpaces-stock-214509091.html | 2019-04-04 21:45:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Coca-Cola (KO) Outpaces Stock Market Gains: What You Should Know | Coca-Cola (KO) closed the most recent trading day at $46.49, moving +0.67% from the previous trading session. This change outpaced the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the world's largest beverage maker had gained 1.61% over the past month. This has lagged the Consumer Staples sector's gain of 2.28% and the S&P 500's gain of 2.57% in that time.
Wall Street will be looking for positivity from KO as it approaches its next earnings report date. This is expected to be April 23, 2019. On that day, KO is projected to report earnings of $0.46 per share, which would represent a year-over-year decline of 2.13%. Meanwhile, our latest consensus estimate is calling for revenue of $7.89 billion, up 3.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.09 per share and revenue of $34.81 billion, which would represent changes of +0.48% and +9.27%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for KO. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.05% lower. KO is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, KO currently has a Forward P/E ratio of 22.08. This represents a discount compared to its industry's average Forward P/E of 22.1.
Investors should also note that KO has a PEG ratio of 3.11 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. KO's industry had an average PEG ratio of 2.16 as of yesterday's close.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KO in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCoca-Cola Company (The) (KO) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
https://finance.yahoo.com/news/centurylink-ctl-gains-lags-market-214509759.html | 2019-04-04 21:45:09+00:00 | null | null | Zacks | http://www.zacks.com/ | CenturyLink (CTL) Gains But Lags Market: What You Should Know | CenturyLink (CTL) closed at $12.39 in the latest trading session, marking a +0.16% move from the prior day. This move lagged the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.05%. Heading into today, shares of the communications company had gained 7.01% over the past month, outpacing the Computer and Technology sector's gain of 5.1% and the S&P 500's gain of 2.57% in that time. Investors will be hoping for strength from CTL as it approaches its next earnings release, which is expected to be May 8, 2019. The company is expected to report EPS of $0.29, up 16% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.75 billion, down 3.29% from the prior-year quarter. For the full year, our Zacks Consensus Estimates are projecting earnings of $1.24 per share and revenue of $22.77 billion, which would represent changes of +4.2% and -3.43%, respectively, from the prior year. Investors should also note any recent changes to analyst estimates for CTL. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CTL currently has a Zacks Rank of #2 (Buy). Looking at its valuation, CTL is holding a Forward P/E ratio of 9.94. For comparison, its industry has an average Forward P/E of 31.34, which means CTL is trading at a discount to the group. Story continues Meanwhile, CTL's PEG ratio is currently 0.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless National was holding an average PEG ratio of 2.89 at yesterday's closing price. The Wireless National industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 28% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CenturyLink, Inc. (CTL) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
https://finance.yahoo.com/news/cree-cree-outpaces-stock-market-214509261.html | 2019-04-04 21:45:09+00:00 | null | null | Zacks | http://www.zacks.com/ | Cree (CREE) Outpaces Stock Market Gains: What You Should Know | Cree (CREE) closed the most recent trading day at $62.06, moving +1.92% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.05%. Prior to today's trading, shares of the maker of energy-efficient lighting had gained 15.26% over the past month. This has outpaced the Computer and Technology sector's gain of 5.1% and the S&P 500's gain of 2.57% in that time. CREE will be looking to display strength as it nears its next earnings release, which is expected to be May 1, 2019. On that day, CREE is projected to report earnings of $0.16 per share, which would represent year-over-year growth of 300%. Our most recent consensus estimate is calling for quarterly revenue of $274.74 million, down 22.82% from the year-ago period. CREE's full-year Zacks Consensus Estimates are calling for earnings of $0.78 per share and revenue of $1.38 billion. These results would represent year-over-year changes of +310.53% and -7.29%, respectively. Investors should also note any recent changes to analyst estimates for CREE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.4% higher within the past month. CREE is currently sporting a Zacks Rank of #2 (Buy). Investors should also note CREE's current valuation metrics, including its Forward P/E ratio of 77.9. This valuation marks a premium compared to its industry's average Forward P/E of 15.1. Story continues Meanwhile, CREE's PEG ratio is currently 3.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - Discretes industry currently had an average PEG ratio of 1.01 as of yesterday's close. The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 2, which puts it in the top 1% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow CREE in the coming trading sessions, be sure to utilize Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cree, Inc. (CREE) : Free Stock Analysis Report To read this article on Zacks.com click here. |
https://finance.yahoo.com/news/u-conducted-secret-surveillance-huawei-prosecutors-170709365--finance.html | 2019-04-04 21:45:40+00:00 | [] | By Brendan Pierson and Karen Freifeld | Reuters | https://www.reuters.com/ | By spying on Huawei, U.S. found evidence against the Chinese firm | By Brendan Pierson and Karen Freifeld NEW YORK (Reuters) - U.S. authorities gathered information about Huawei Technologies Co Ltd through secret surveillance that they plan to use in a case accusing the Chinese telecom equipment maker of sanctions-busting and bank fraud, prosecutors said on Thursday. Assistant U.S. Attorney Alex Solomon said at a hearing in federal court in Brooklyn that the evidence, obtained under the U.S. Foreign Intelligence Surveillance Act (FISA), would require classified handling. The government notified Huawei in a court filing on Thursday of its intent to use the information, saying it was "obtained or derived from electronic surveillance and physical search," but gave no details. The United States has been pressuring other countries to drop Huawei from their cellular networks, worried its equipment could be used by Beijing for spying. The company says the concerns are unfounded. Brian Frey, a former federal prosecutor who is not involved in the Huawei case, said FISA surveillance, which requires a warrant from a special court, is generally sought in connection with suspected espionage. "The reason they typically would have gotten the surveillance through a FISA court is where we suspect someone may be spying on behalf of a foreign power," Frey said. The U.S. government has been concerned about espionage by Huawei for years, he added. In the Brooklyn case, Huawei and its chief financial officer, Meng Wanzhou, are accused of conspiring to defraud HSBC Holdings Plc and other banks by misrepresenting Huawei's relationship with Skycom Tech Co Ltd, a suspected front company that operated in Iran. Meng was arrested in Canada in December at the request of the United States to face the charges of bank and wire fraud laid out in the indictment, which was not unsealed until January. She has said she is innocent and is fighting extradition. Huawei last month pleaded not guilty to the 13-count indictment. Chasen Skinner, a spokesman for the company, declined to comment on Thursday on the secret U.S. surveillance, saying the company does not comment on pending litigation. Huawei has said Skycom was a local business partner, but prosecutors said in their indictment against Huawei and Meng that it was an unofficial subsidiary used to conceal Huawei's Iran business. U.S. authorities claim Huawei used Skycom to obtain embargoed U.S. goods, technology and services in Iran, and to move money via the international banking system. The charges against the company include violating U.S. sanctions on Iran. Last month, Reuters detailed how U.S. authorities secretly tracked Huawei's activities by collecting information copied from electronic devices carried by Chinese telecom executives traveling through airports. Reuters also broke news of the bank fraud charges in December and exclusively reported in February how an internal HSBC probe helped lead to the charges against Huawei and Meng. The U.S. sanctions investigation was spurred by Reuters reports over six years ago that Skycom offered to sell embargoed Hewlett-Packard computer equipment to Iran's largest mobile-phone operator and detailed the close ties between Huawei and Skycom. (reut.rs/2sUq8RT https://www.reuters.com/article/us-huawei-skycom/exclusive-huawei-cfo-linked-to-firm-that-offered-hp-gear-to-iran-idUSBRE90U0CC20130131) Trump told Reuters in December that he would intervene in the case if it helped secure a trade deal with China. Meng's lawyers have expressed concerns that she is a pawn. The next court date in the Brooklyn case is set for June 19. (Reporting by Brendan Pierson and Karen Freifeld in New York; editing by Sonya Hepinstall and Sandra Maler) |
https://finance.yahoo.com/news/u-conducted-secret-surveillance-huawei-prosecutors-170709397--finance.html | 2019-04-04 21:45:40+00:00 | [] | By Brendan Pierson and Karen Freifeld | Reuters | https://www.reuters.com/ | By spying on Huawei, U.S. found evidence against the Chinese firm | By Brendan Pierson and Karen Freifeld NEW YORK (Reuters) - U.S. authorities gathered information about Huawei Technologies Co Ltd through secret surveillance that they plan to use in a case accusing the Chinese telecom equipment maker of sanctions-busting and bank fraud, prosecutors said on Thursday. Assistant U.S. Attorney Alex Solomon said at a hearing in federal court in Brooklyn that the evidence, obtained under the U.S. Foreign Intelligence Surveillance Act (FISA), would require classified handling. The government notified Huawei in a court filing on Thursday of its intent to use the information, saying it was "obtained or derived from electronic surveillance and physical search," but gave no details. The United States has been pressuring other countries to drop Huawei from their cellular networks, worried its equipment could be used by Beijing for spying. The company says the concerns are unfounded. Brian Frey, a former federal prosecutor who is not involved in the Huawei case, said FISA surveillance, which requires a warrant from a special court, is generally sought in connection with suspected espionage. "The reason they typically would have gotten the surveillance through a FISA court is where we suspect someone may be spying on behalf of a foreign power," Frey said. The U.S. government has been concerned about espionage by Huawei for years, he added. In the Brooklyn case, Huawei and its chief financial officer, Meng Wanzhou, are accused of conspiring to defraud HSBC Holdings Plc and other banks by misrepresenting Huawei's relationship with Skycom Tech Co Ltd, a suspected front company that operated in Iran. Meng was arrested in Canada in December at the request of the United States to face the charges of bank and wire fraud laid out in the indictment, which was not unsealed until January. She has said she is innocent and is fighting extradition. Huawei last month pleaded not guilty to the 13-count indictment. Chasen Skinner, a spokesman for the company, declined to comment on Thursday on the secret U.S. surveillance, saying the company does not comment on pending litigation. Huawei has said Skycom was a local business partner, but prosecutors said in their indictment against Huawei and Meng that it was an unofficial subsidiary used to conceal Huawei's Iran business. U.S. authorities claim Huawei used Skycom to obtain embargoed U.S. goods, technology and services in Iran, and to move money via the international banking system. The charges against the company include violating U.S. sanctions on Iran. Last month, Reuters detailed how U.S. authorities secretly tracked Huawei's activities by collecting information copied from electronic devices carried by Chinese telecom executives traveling through airports. Reuters also broke news of the bank fraud charges in December and exclusively reported in February how an internal HSBC probe helped lead to the charges against Huawei and Meng. The U.S. sanctions investigation was spurred by Reuters reports over six years ago that Skycom offered to sell embargoed Hewlett-Packard computer equipment to Iran's largest mobile-phone operator and detailed the close ties between Huawei and Skycom. (reut.rs/2sUq8RT https://www.reuters.com/article/us-huawei-skycom/exclusive-huawei-cfo-linked-to-firm-that-offered-hp-gear-to-iran-idUSBRE90U0CC20130131) Trump told Reuters in December that he would intervene in the case if it helped secure a trade deal with China. Meng's lawyers have expressed concerns that she is a pawn. The next court date in the Brooklyn case is set for June 19. (Reporting by Brendan Pierson and Karen Freifeld in New York; editing by Sonya Hepinstall and Sandra Maler) |
https://finance.yahoo.com/news/u-conducted-secret-surveillance-huawei-170709353.html | 2019-04-04 21:45:40+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | By spying on Huawei, U.S. found evidence against the Chinese firm | By Brendan Pierson and Karen Freifeld
NEW YORK (Reuters) - U.S. authorities gathered information about Huawei Technologies Co Ltd through secret surveillance that they plan to use in a case accusing the Chinese telecom equipment maker of sanctions-busting and bank fraud, prosecutors said on Thursday.
Assistant U.S. Attorney Alex Solomon said at a hearing in federal court in Brooklyn that the evidence, obtained under the U.S. Foreign Intelligence Surveillance Act (FISA), would require classified handling.
The government notified Huawei in a court filing on Thursday of its intent to use the information, saying it was "obtained or derived from electronic surveillance and physical search," but gave no details.
The United States has been pressuring other countries to drop Huawei from their cellular networks, worried its equipment could be used by Beijing for spying. The company says the concerns are unfounded.
Brian Frey, a former federal prosecutor who is not involved in the Huawei case, said FISA surveillance, which requires a warrant from a special court, is generally sought in connection with suspected espionage.
"The reason they typically would have gotten the surveillance through a FISA court is where we suspect someone may be spying on behalf of a foreign power," Frey said.
The U.S. government has been concerned about espionage by Huawei for years, he added.
In the Brooklyn case, Huawei and its chief financial officer, Meng Wanzhou, are accused of conspiring to defraud HSBC Holdings Plc and other banks by misrepresenting Huawei's relationship with Skycom Tech Co Ltd, a suspected front company that operated in Iran.
Meng was arrested in Canada in December at the request of the United States to face the charges of bank and wire fraud laid out in the indictment, which was not unsealed until January. She has said she is innocent and is fighting extradition.
Huawei last month pleaded not guilty to the 13-count indictment. Chasen Skinner, a spokesman for the company, declined to comment on Thursday on the secret U.S. surveillance, saying the company does not comment on pending litigation.
Huawei has said Skycom was a local business partner, but prosecutors said in their indictment against Huawei and Meng that it was an unofficial subsidiary used to conceal Huawei's Iran business.
U.S. authorities claim Huawei used Skycom to obtain embargoed U.S. goods, technology and services in Iran, and to move money via the international banking system. The charges against the company include violating U.S. sanctions on Iran.
Last month, Reuters detailed how U.S. authorities secretly tracked Huawei's activities by collecting information copied from electronic devices carried by Chinese telecom executives traveling through airports.
Reuters also broke news of the bank fraud charges in December and exclusively reported in February how an internal HSBC probe helped lead to the charges against Huawei and Meng.
The U.S. sanctions investigation was spurred by Reuters reports over six years ago that Skycom offered to sell embargoed Hewlett-Packard computer equipment to Iran's largest mobile-phone operator and detailed the close ties between Huawei and Skycom. (reut.rs/2sUq8RThttps://www.reuters.com/article/us-huawei-skycom/exclusive-huawei-cfo-linked-to-firm-that-offered-hp-gear-to-iran-idUSBRE90U0CC20130131)
Trump told Reuters in December that he would intervene in the case if it helped secure a trade deal with China. Meng's lawyers have expressed concerns that she is a pawn.
The next court date in the Brooklyn case is set for June 19.
(Reporting by Brendan Pierson and Karen Freifeld in New York; editing by Sonya Hepinstall and Sandra Maler) |
https://finance.yahoo.com/news/hedge-funds-think-vedanta-ltd-214855341.html | 2019-04-04 21:48:55+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Here’s What Hedge Funds Think About Vedanta Ltd (VEDL) | We can judge whether Vedanta Ltd (NYSE:VEDL) is a good investment right now by following the lead of some of the best investors in the world and piggybacking their ideas. There's no better way to get these firms' immense resources and analytical capabilities working for us than to follow their lead into their best ideas. While not all of these picks will be winners, our research shows that these picks historically outperformed the market when we factor in known risk factors.
Vedanta Ltd (NYSE:VEDL)has experienced an increase in hedge fund interest of late.VEDLwas in 7 hedge funds' portfolios at the end of December. There were 5 hedge funds in our database with VEDL holdings at the end of the previous quarter. Our calculations also showed that VEDL isn't among the30 most popular stocks among hedge funds.
In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's flagship best performing hedge funds strategy returned 20.7% year to date (through March 12th) and outperformed the market even though it draws its stock picks among small-cap stocks. This strategy also outperformed the market by 32 percentage points since its inception (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.
We're going to take a look at the new hedge fund action regarding Vedanta Ltd (NYSE:VEDL).
Heading into the first quarter of 2019, a total of 7 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 40% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards VEDL over the last 14 quarters. So, let's find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Among these funds,LMR Partnersheld the most valuable stake in Vedanta Ltd (NYSE:VEDL), which was worth $22.4 million at the end of the third quarter. On the second spot was Renaissance Technologies which amassed $20.9 million worth of shares. Moreover, AQR Capital Management, Weld Capital Management, and Two Sigma Advisors were also bullish on Vedanta Ltd (NYSE:VEDL), allocating a large percentage of their portfolios to this stock.
As industrywide interest jumped, key hedge funds were leading the bulls' herd.LMR Partners, managed by Ben Levine, Andrew Manuel and Stefan Renold, assembled the most outsized position in Vedanta Ltd (NYSE:VEDL). LMR Partners had $22.4 million invested in the company at the end of the quarter. Minhua Zhang'sWeld Capital Managementalso initiated a $1 million position during the quarter. The only other fund with a new position in the stock is D. E. Shaw'sD E Shaw.
Let's also examine hedge fund activity in other stocks similar to Vedanta Ltd (NYSE:VEDL). We will take a look at Western Digital Corporation (NASDAQ:WDC), Icahn Enterprises LP (NASDAQ:IEP), DexCom, Inc. (NASDAQ:DXCM), and Marvell Technology Group Ltd. (NASDAQ:MRVL). This group of stocks' market valuations resemble VEDL's market valuation.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position WDC,25,566493,-8 IEP,6,10137794,2 DXCM,31,738361,1 MRVL,35,1328538,4 Average,24.25,3192797,-0.25 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 24.25 hedge funds with bullish positions and the average amount invested in these stocks was $3193 million. That figure was $56 million in VEDL's case. Marvell Technology Group Ltd. (NASDAQ:MRVL) is the most popular stock in this table. On the other hand Icahn Enterprises LP (NASDAQ:IEP) is the least popular one with only 6 bullish hedge fund positions. Vedanta Ltd (NYSE:VEDL) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 15 most popular stocks among hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Unfortunately VEDL wasn't in this group. Hedge funds that bet on VEDL were disappointed as the stock lost 11.8% and underperformed the market. If you are interested in investing in large cap stocks, you should check out thetop 15 hedge fund stocksas 13 of these outperformed the market.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/jpmorgan-3-7-billion-tax-214908724.html | 2019-04-04 21:49:08+00:00 | [] | Michael Rainey | The Fiscal Times | http://www.thefiscaltimes.com/ | JPMorgan’s $3.7 Billion Tax Cut Windfall | JPMorgan Chase CEO Jamie Dimon told investors Thursday that the GOP tax cuts increased his bank’s profits by $3.7 billion last year.
In hisannual letterto shareholders, Dimon said that JPMorgan Chase generated “record revenue and net income” in 2018 – and would have done so even without tax reform. The tax overhaul also contributed to profits the prior year. (See the chart below, with net income in blue.)
“The new tax code establishes a business tax rate that will make the United States competitive around the world and frees US companies to bring back profits earned overseas,” Dimon said. “The cumulative effect of capital retained and reinvested over many years in the United States will help cultivate strong businesses and ultimately create jobs and increase wages.”
Dimon said that the bank used some of its windfall “to massively increase our investments in technology, new branches and bankers, salaries (we now pay a minimum of $31,000 a year for full time entry-level jobs in the United States), philanthropy and lending (specifically in lower income neighborhoods).” In the long run, however, he expected “that some or eventually most of that increase will be erased as companies compete for customers on products, capabilities and prices.”
On a darker note, Dimon warned that while he sees capitalism as "the most successful economic system the world has ever seen," the American Dream is “fraying” for many citizens. He called for a “Marshall Plan for America” to address persistent policy failures in the U.S. on issues including education, health care, infrastructure and immigration, and argued that CEOs and businesses need to play a role in fixing the country’s problems.
Critics of the GOP tax cuts were quick to argue that the bank’s windfall was more of a problem than a triumph. Michael Lind of the progressive Hub Projecttweeted, “Donald Trump, champion of working people, gave a tax cut worth $3.7 billion to one of the largest Wall Street banks in the country.” And in response to Dimon’s discussion of the economic struggles many Americans are experiencing, Sen. Elizabeth Warrenwrote, “Great point, Jamie! How about we start with you giving back the $3.7 billion J.P. Morgan made this year off the #GOPTaxScam that you lobbied for?”
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https://finance.yahoo.com/news/musk-judge-sends-sec-tesla-214949142.html | 2019-04-04 21:49:49+00:00 | null | null | Bloomberg | https://www.bloomberg.com/ | Musk Judge Sends SEC, Tesla CEO Back to Negotiating Table | (Bloomberg) -- Elon Musk and the SEC have two weeks to work out their differences over how the billionaire CEO posts Tesla Inc. news on social media, or a judge in New York said they’d hear from her. The U.S. Securities and Exchange Commission claims Musk violated an October settlement with a Feb. 19 post on Twitter and wanted him found in contempt of court. U.S. District Judge Alison Nathan questioned the specifics of the deal and told the two sides to rework the language so there won’t be any ambiguity on what Musk is allowed to post and what he can’t. Nathan said she has “serious concerns that whatever I decide here, the issue will not be finally resolved.” If Musk and the SEC don’t resolve the dispute, Nathan could still find Musk in contempt. “Take a deep breath, put your reasonableness pants on and work this out,” Nathan told both sides. Musk has been tangling with the SEC since he tweeted on Aug. 7 that he was considering taking the company private at $420 and had the funding. The regulator sued him, saying the post was false. Musk and Tesla each agreed to pay $20 million and the CEO also agreed to have his social media posts overseen by essentially a twitter-sitter, for any information that might affect investors’ decisions. The SEC said he violated the pact when he tweeted that Tesla would make about half a million cars in 2019. He corrected that a few hours later with a tweet saying deliveries would only reach about 400,000. Musk should have had those statements vetted under the terms of the settlement, the SEC said Thursday. Musk’s attorneys countered that the post wasn’t material and that the Tesla CEO has been complying with the accord. “We have always felt that we should be able to work through any disagreements directly with the SEC, rather than prematurely rushing to court,” Musk said in a statement after the hearing. “That is exactly what Judge Nathan instructed.” He said he was pleased with the judge’s decision. Story continues Musk’s lawyers had argued in court filings that the CEO has curtailed his use of Twitter recently, a claim not supported by a review of his account which shows he’s tweeted more in March than any other month since June. A reporter asked Musk outside court: “Do you think you can work this out with the SEC over the next two weeks?” Musk paused, looked away for a moment, and answered, “Most likely.” As Musk walked down the courthouse steps, surrounded by reporters and photographers, several supporters shouted “We love you, Elon!” Musk was then whisked away in a dark gray Tesla. For more on Elon Musk Judge Hears Arguments in SEC Contempt Fight, click here for our TOPLive blog. (Updates with judge’s comment in fourth paragraph.) --With assistance from David Ingold. To contact the reporters on this story: Matt Robinson in New York at [email protected];Chris Dolmetsch in Federal Court in Manhattan at [email protected];Bob Van Voris in federal court in Manhattan at [email protected] To contact the editors responsible for this story: Jesse Westbrook at [email protected], ;Heather Smith at [email protected], Joe Schneider For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. |
https://finance.yahoo.com/news/latest-people-ice-arrested-texas-15-countries-214948721.html | 2019-04-04 21:50:04+00:00 | null | null | Associated Press | https://apnews.com/ | The Latest: People ICE arrested in Texas from 15 countries | DALLAS (AP) -- The Latest on immigration agents arrest of nearly 300 people at a Texas company (all times local): 4:50 p.m. Immigration officials say the nearly 300 people arrested at a Texas technology repair company came to the U.S. from 15 different countries on multiple continents. U.S. Immigration and Customs Enforcement says it has released nearly two-thirds of the more than 280 people who did not have legal authorization to work in this country. They worked at CVE Technology Group refurbishing used cellphones. Special Agent in Charge Katrina Berger says 110 of the people are being held in federal detention centers in Texas. The rest were given a date to appear in immigration court and released for "humanitarian reasons," such as being the sole caregiver for a child or having a serious illness. Berger says her staff conducted the large operation without drawing agents from other jurisdictions. A phone message seeking comment with CVE was not immediately returned. ____ 3:15 p.m. A raid by U.S. Immigration and Customs Enforcement that federal authorities are touting as the largest in a decade was the latest in a series of similar enforcement actions under the Trump administration over the last two years. About 200 law enforcement officials descended Wednesday on CVE Technology Group in Allen, a city about 15 miles (24 kilometers) northeast of Dallas. Approximately 280 people who work for the technology repair company were taken away in buses. Each will face deportation proceedings. The Texas raid was the latest in a series of high-profile busts of businesses around the country as part of President Donald Trump's immigration crackdown. Critics say the raids break up hard-working families and make it even harder for businesses to find employees in a tight labor market. |
https://finance.yahoo.com/news/perficient-prft-outpaces-stock-market-215009100.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Perficient (PRFT) Outpaces Stock Market Gains: What You Should Know | In the latest trading session, Perficient (PRFT) closed at $28.06, marking a +0.9% move from the previous day. This move outpaced the S&P 500's daily gain of 0.21%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the information technology consulting firm had lost 0.32% over the past month, lagging the Computer and Technology sector's gain of 5.1% and the S&P 500's gain of 2.57% in that time.
Investors will be hoping for strength from PRFT as it approaches its next earnings release, which is expected to be May 2, 2019. The company is expected to report EPS of $0.40, up 14.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $131.21 million, up 8.49% from the year-ago period.
PRFT's full-year Zacks Consensus Estimates are calling for earnings of $1.71 per share and revenue of $530.69 million. These results would represent year-over-year changes of +7.55% and +6.48%, respectively.
Investors should also note any recent changes to analyst estimates for PRFT. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PRFT currently has a Zacks Rank of #2 (Buy).
Investors should also note PRFT's current valuation metrics, including its Forward P/E ratio of 16.31. This represents a discount compared to its industry's average Forward P/E of 19.74.
Investors should also note that PRFT has a PEG ratio of 1.59 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Services industry currently had an average PEG ratio of 2.19 as of yesterday's close.
The Computer - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 23, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportPerficient, Inc. (PRFT) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
https://finance.yahoo.com/news/etsy-etsy-stock-sinks-market-215009783.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Etsy (ETSY) Stock Sinks As Market Gains: What You Should Know | Etsy (ETSY) closed at $68.30 in the latest trading session, marking a -1.67% move from the prior day. This change lagged the S&P 500's 0.21% gain on the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the online crafts marketplace had lost 0.83% in the past month. In that same time, the Computer and Technology sector gained 5.1%, while the S&P 500 gained 2.57%.
Investors will be hoping for strength from ETSY as it approaches its next earnings release. The company is expected to report EPS of $0.14, up 40% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $169.33 million, up 40.04% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.72 per share and revenue of $792.08 million. These totals would mark changes of +18.03% and +31.21%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for ETSY. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.96% higher. ETSY is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ETSY currently has a Forward P/E ratio of 95.9. For comparison, its industry has an average Forward P/E of 25.52, which means ETSY is trading at a premium to the group.
Investors should also note that ETSY has a PEG ratio of 4.96 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Services was holding an average PEG ratio of 2.79 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportEtsy, Inc. (ETSY) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
https://finance.yahoo.com/news/ericsson-eric-stock-sinks-market-215009766.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Ericsson (ERIC) Stock Sinks As Market Gains: What You Should Know | Ericsson (ERIC) closed the most recent trading day at $9.50, moving -0.94% from the previous trading session. This move lagged the S&P 500's daily gain of 0.21%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the telecommunications equipment provider had gained 3.79% in the past month. In that same time, the Computer and Technology sector gained 5.1%, while the S&P 500 gained 2.57%.
Wall Street will be looking for positivity from ERIC as it approaches its next earnings report date. This is expected to be April 17, 2019. The company is expected to report EPS of $0.04, up 300% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.26 billion, down 1.72% from the year-ago period.
ERIC's full-year Zacks Consensus Estimates are calling for earnings of $0.32 per share and revenue of $23.26 billion. These results would represent year-over-year changes of +966.67% and -5.37%, respectively.
Any recent changes to analyst estimates for ERIC should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ERIC is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, ERIC is currently trading at a Forward P/E ratio of 30.2. For comparison, its industry has an average Forward P/E of 24.16, which means ERIC is trading at a premium to the group.
It is also worth noting that ERIC currently has a PEG ratio of 0.72. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment was holding an average PEG ratio of 2.33 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportEricsson (ERIC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
https://finance.yahoo.com/news/mcdonalds-mcd-outpaces-stock-market-215009348.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | McDonald's (MCD) Outpaces Stock Market Gains: What You Should Know | McDonald's (MCD) closed at $189.87 in the latest trading session, marking a +0.81% move from the prior day. This move outpaced the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today's trading, shares of the world's biggest hamburger chain had gained 3.47% over the past month. This has outpaced the Retail-Wholesale sector's gain of 2.34% and the S&P 500's gain of 2.57% in that time.
Wall Street will be looking for positivity from MCD as it approaches its next earnings report date. This is expected to be April 30, 2019. In that report, analysts expect MCD to post earnings of $1.75 per share. This would mark a year-over-year decline of 2.23%. Our most recent consensus estimate is calling for quarterly revenue of $4.95 billion, down 3.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.12 per share and revenue of $20.91 billion. These totals would mark changes of +2.78% and -0.55%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for MCD. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.39% lower. MCD is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that MCD has a Forward P/E ratio of 23.19 right now. This valuation marks a premium compared to its industry's average Forward P/E of 21.19.
Meanwhile, MCD's PEG ratio is currently 2.64. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Restaurants industry currently had an average PEG ratio of 2.07 as of yesterday's close.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MCD in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportMcDonald's Corporation (MCD) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
https://finance.yahoo.com/news/dowdupont-dwdp-outpaces-stock-market-215009123.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | DowDuPont (DWDP) Outpaces Stock Market Gains: What You Should Know | DowDuPont (DWDP) closed at $37.78 in the latest trading session, marking a +1.15% move from the prior day. This move outpaced the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today's trading, shares of the specialty chemicals maker had lost 31.43% over the past month. This has lagged the Basic Materials sector's gain of 3.46% and the S&P 500's gain of 2.57% in that time.
Wall Street will be looking for positivity from DWDP as it approaches its next earnings report date. In that report, analysts expect DWDP to post earnings of $0.92 per share. This would mark a year-over-year decline of 17.86%. Our most recent consensus estimate is calling for quarterly revenue of $19.66 billion, down 8.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.95 per share and revenue of $84.75 billion. These totals would mark changes of -3.89% and -1.43%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for DWDP. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.65% lower. DWDP is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that DWDP has a Forward P/E ratio of 9.46 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.97.
Meanwhile, DWDP's PEG ratio is currently 0.95. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Chemical - Diversified industry currently had an average PEG ratio of 1.02 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DWDP in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportTo read this article on Zacks.com click here.Zacks Investment Research |
https://finance.yahoo.com/news/western-digital-wdc-stock-sinks-215009516.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Western Digital (WDC) Stock Sinks As Market Gains: What You Should Know | In the latest trading session, Western Digital (WDC) closed at $51.44, marking a -1.1% move from the previous day. This move lagged the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today's trading, shares of the maker of hard drives for businesses and personal computers had gained 8.08% over the past month. This has outpaced the Computer and Technology sector's gain of 5.1% and the S&P 500's gain of 2.57% in that time.
Investors will be hoping for strength from WDC as it approaches its next earnings release, which is expected to be April 29, 2019. On that day, WDC is projected to report earnings of $0.49 per share, which would represent a year-over-year decline of 86.5%. Our most recent consensus estimate is calling for quarterly revenue of $3.69 billion, down 26.4% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.55 per share and revenue of $16.69 billion. These totals would mark changes of -62.32% and -19.16%, respectively, from last year.
Any recent changes to analyst estimates for WDC should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. WDC is currently a Zacks Rank #3 (Hold).
Investors should also note WDC's current valuation metrics, including its Forward P/E ratio of 9.38. For comparison, its industry has an average Forward P/E of 15.92, which means WDC is trading at a discount to the group.
Also, we should mention that WDC has a PEG ratio of 0.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computer- Storage Devices stocks are, on average, holding a PEG ratio of 1.51 based on yesterday's closing prices.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportWestern Digital Corporation (WDC) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
https://finance.yahoo.com/news/viewray-vray-stock-sinks-market-215009731.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | ViewRay (VRAY) Stock Sinks As Market Gains: What You Should Know | In the latest trading session, ViewRay (VRAY) closed at $7.72, marking a -0.13% move from the previous day. This change lagged the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the radiation therapy systems maker had lost 6.87% in the past month. In that same time, the Medical sector lost 0.07%, while the S&P 500 gained 2.57%.
Investors will be hoping for strength from VRAY as it approaches its next earnings release. The company is expected to report EPS of -$0.22, down 100% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.98 million, down 19.91% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.82 per share and revenue of $118.57 million, which would represent changes of +16.33% and +46.45%, respectively, from the prior year.
Any recent changes to analyst estimates for VRAY should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.49% lower. VRAY is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VRAY in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportViewRay, Inc. (VRAY) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
https://finance.yahoo.com/news/aphria-inc-apha-outpaces-stock-215009857.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Aphria Inc. (APHA) Outpaces Stock Market Gains: What You Should Know | Aphria Inc. (APHA) closed the most recent trading day at $9.93, moving +1.33% from the previous trading session. This change outpaced the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the company had lost 2.78% over the past month. This has lagged the Medical sector's loss of 0.07% and the S&P 500's gain of 2.57% in that time.
Investors will be hoping for strength from APHA as it approaches its next earnings release, which is expected to be April 15, 2019. In that report, analysts expect APHA to post earnings of -$0.04 per share. This would mark a year-over-year decline of 166.67%. Meanwhile, our latest consensus estimate is calling for revenue of $41.11 million, up 403.74% from the prior-year quarter.
APHA's full-year Zacks Consensus Estimates are calling for earnings of $0.11 per share and revenue of $129.24 million. These results would represent year-over-year changes of -21.43% and +344.96%, respectively.
Investors should also note any recent changes to analyst estimates for APHA. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. APHA is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, APHA is holding a Forward P/E ratio of 87.11. Its industry sports an average Forward P/E of 24.94, so we one might conclude that APHA is trading at a premium comparatively.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAphria Inc. (APHA) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
https://finance.yahoo.com/news/kamada-kmda-gains-lags-market-215009549.html | 2019-04-04 21:50:09+00:00 | [] | Zacks Equity Research | Zacks | http://www.zacks.com/ | Kamada (KMDA) Gains But Lags Market: What You Should Know | In the latest trading session, Kamada (KMDA) closed at $5.76, marking a +0.17% move from the previous day. The stock lagged the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the biopharmaceutical had lost 4.49% in the past month. In that same time, the Medical sector lost 0.07%, while the S&P 500 gained 2.57%.
Wall Street will be looking for positivity from KMDA as it approaches its next earnings report date. In that report, analysts expect KMDA to post earnings of $0.05 per share. This would mark year-over-year growth of 66.67%. Meanwhile, our latest consensus estimate is calling for revenue of $22.87 million, up 31.14% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.47 per share and revenue of $126.91 million, which would represent changes of -17.54% and +10.87%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for KMDA. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. KMDA is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, KMDA is currently trading at a Forward P/E ratio of 12.32. This valuation marks a discount compared to its industry's average Forward P/E of 21.19.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 79, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportKamada Ltd. (KMDA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
https://finance.yahoo.com/news/abiomed-abmd-stock-sinks-market-215009559.html | 2019-04-04 21:50:09+00:00 | null | null | Zacks | http://www.zacks.com/ | Abiomed (ABMD) Stock Sinks As Market Gains: What You Should Know | In the latest trading session, Abiomed (ABMD) closed at $283.05, marking a -0.66% move from the previous day. This change lagged the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.05%. Coming into today, shares of the maker of heart devices had lost 10.35% in the past month. In that same time, the Medical sector lost 0.07%, while the S&P 500 gained 2.57%. Investors will be hoping for strength from ABMD as it approaches its next earnings release. The company is expected to report EPS of $1.07, up 33.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $216.43 million, up 24.07% from the prior-year quarter. It is also important to note the recent changes to analyst estimates for ABMD. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ABMD is currently a Zacks Rank #2 (Buy). In terms of valuation, ABMD is currently trading at a Forward P/E ratio of 57.71. This valuation marks a premium compared to its industry's average Forward P/E of 31.89. Also, we should mention that ABMD has a PEG ratio of 2.09. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.6 based on yesterday's closing prices. Story continues The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% of all 250+ industries. The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ABIOMED, Inc. (ABMD) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
https://finance.yahoo.com/news/hedge-funds-think-wynn-resorts-215044174.html | 2019-04-04 21:50:44+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Here’s What Hedge Funds Think About Wynn Resorts, Limited (WYNN) | During the fourth quarter the Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by nearly 7 percentage points as investors worried over the possible ramifications of rising interest rates. The hedge funds and institutional investors we track typically invest more in smaller-cap stocks than an average investor (i.e. only 298 S&P 500 constituents were among the 500 most popular stocks among hedge funds), and we have seen data that shows those funds paring back their overall exposure. Those funds cutting positions in small-caps is one reason why volatility has increased. In the following paragraphs, we take a closer look at what hedge funds and prominent investors think of Wynn Resorts, Limited (NASDAQ:WYNN) and see how the stock is affected by the recent hedge fund activity.
Wynn Resorts, Limited (NASDAQ:WYNN)was in 46 hedge funds' portfolios at the end of the fourth quarter of 2018. WYNN has experienced an increase in hedge fund sentiment lately. There were 43 hedge funds in our database with WYNN positions at the end of the previous quarter. Our calculations also showed that WYNN isn't among the30 most popular stocks among hedge funds.
In the 21st century investor’s toolkit there are many tools stock market investors employ to assess publicly traded companies. A duo of the most useful tools are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the top picks of the best investment managers can outperform their index-focused peers by a superb amount (see the details here).
We're going to take a glance at the recent hedge fund action surrounding Wynn Resorts, Limited (NASDAQ:WYNN).
At Q4's end, a total of 46 of the hedge funds tracked by Insider Monkey were long this stock, a change of 7% from the second quarter of 2018. Below, you can check out the change in hedge fund sentiment towards WYNN over the last 14 quarters. So, let's review which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to Insider Monkey's hedge fund database,Lone Pine Capital, managed by Stephen Mandel, holds the biggest position in Wynn Resorts, Limited (NASDAQ:WYNN). Lone Pine Capital has a $589.1 million position in the stock, comprising 4% of its 13F portfolio. On Lone Pine Capital's heels is Gabriel Plotkin ofMelvin Capital Management, with a $223.2 million position; 3% of its 13F portfolio is allocated to the stock. Remaining members of the smart money that hold long positions include Daniel S. Och'sOZ Management, Mason Hawkins'sSoutheastern Asset Managementand Daniel Sundheim'sD1 Capital Partners.
With a general bullishness amongst the heavyweights, some big names have jumped into Wynn Resorts, Limited (NASDAQ:WYNN) headfirst.OZ Management, managed by Daniel S. Och, established the biggest position in Wynn Resorts, Limited (NASDAQ:WYNN). OZ Management had $193.1 million invested in the company at the end of the quarter. Mason Hawkins'sSoutheastern Asset Managementalso initiated a $167.7 million position during the quarter. The other funds with brand new WYNN positions are Daniel Sundheim'sD1 Capital Partners, Lee Ainslie'sMaverick Capital, and Mark Moore'sThornTree Capital Partners.
Let's now take a look at hedge fund activity in other stocks similar to Wynn Resorts, Limited (NASDAQ:WYNN). We will take a look at Vedanta Ltd (NYSE:VEDL), Western Digital Corporation (NASDAQ:WDC), Icahn Enterprises LP (NASDAQ:IEP), and DexCom, Inc. (NASDAQ:DXCM). All of these stocks' market caps are closest to WYNN's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position VEDL,7,55731,2 WDC,25,566493,-8 IEP,6,10137794,2 DXCM,31,738361,1 Average,17.25,2874595,-0.75 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 17.25 hedge funds with bullish positions and the average amount invested in these stocks was $2875 million. That figure was $1929 million in WYNN's case. DexCom, Inc. (NASDAQ:DXCM) is the most popular stock in this table. On the other hand Icahn Enterprises LP (NASDAQ:IEP) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Wynn Resorts, Limited (NASDAQ:WYNN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Hedge funds were also right about betting on WYNN, though not to the same extent, as the stock returned 17.7% and outperformed the market as well.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/were-hedge-funds-flocking-iqiyi-215227456.html | 2019-04-04 21:52:27+00:00 | [] | Asma UL Husna | Insider Monkey | http://www.insidermonkey.com | Were Hedge Funds Right About Flocking Into iQIYI, Inc. (IQ) ? | Before we spend days researching a stock idea we'd like to take a look at how hedge funds and billionaire investors recently traded that stock. S&P 500 Index ETF (SPY) lost 13.5% in the fourth quarter. Seven out of 11 industry groups in the S&P 500 Index were down more than 20% from their 52-week highs at the trough of the stock market crash. The average return of a randomly picked stock in the index was even worse. This means you (or a monkey throwing a dart) have less than an even chance of beating the market by randomly picking a stock. On the other hand, the top 15 most popular S&P 500 stocks among hedge funds not only recouped their Q4 losses but also outperformed the index by more than 3 percentage points. In this article, we will take a look at what hedge funds think about iQIYI, Inc. (NASDAQ:IQ).
IsiQIYI, Inc. (NASDAQ:IQ)the right pick for your portfolio? Hedge funds are in an optimistic mood. The number of bullish hedge fund positions rose by 8 in recent months. Our calculations also showed that IQ isn't among the30 most popular stocks among hedge funds.
If you'd ask most stock holders, hedge funds are perceived as unimportant, outdated investment vehicles of years past. While there are greater than 8000 funds trading today, Our researchers hone in on the aristocrats of this group, around 750 funds. These money managers shepherd the majority of the smart money's total capital, and by observing their finest investments, Insider Monkey has brought to light many investment strategies that have historically outstripped the S&P 500 index. Insider Monkey's flagship hedge fund strategy outrun the S&P 500 index by nearly 5 percentage points annually since its inception in May 2014 through early November 2018. We were able to generate large returns even by identifying short candidates. Our portfolio of short stocks lost 27.5% since February 2017 (through March 12th) even though the market was up nearly 25% during the same period. We just shared a list of 6 short targets in ourlatest quarterly updateand they are already down an average of 6% in less than a month.
Let's take a look at the key hedge fund action surrounding iQIYI, Inc. (NASDAQ:IQ).
At Q4's end, a total of 25 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 47% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards IQ over the last 14 quarters. With hedge funds' sentiment swirling, there exists an "upper tier" of noteworthy hedge fund managers who were adding to their stakes meaningfully (or already accumulated large positions).
Among these funds,Hillhouse Capital Managementheld the most valuable stake in iQIYI, Inc. (NASDAQ:IQ), which was worth $510.2 million at the end of the third quarter. On the second spot was Viking Global which amassed $65.8 million worth of shares. Moreover, ExodusPoint Capital, Citadel Investment Group, and Renaissance Technologies were also bullish on iQIYI, Inc. (NASDAQ:IQ), allocating a large percentage of their portfolios to this stock.
As industrywide interest jumped, specific money managers were breaking ground themselves.ExodusPoint Capital, managed by Michael Gelband, established the most outsized position in iQIYI, Inc. (NASDAQ:IQ). ExodusPoint Capital had $25.4 million invested in the company at the end of the quarter. Jim Simons'sRenaissance Technologiesalso initiated a $16.1 million position during the quarter. The other funds with brand new IQ positions are Peter Rathjens, Bruce Clarke and John Campbell'sArrowstreet Capital, Josh Donfeld and David Rogers'sCastle Hook Partners, and Brandon Haley'sHolocene Advisors.
Let's also examine hedge fund activity in other stocks - not necessarily in the same industry as iQIYI, Inc. (NASDAQ:IQ) but similarly valued. These stocks are Wynn Resorts, Limited (NASDAQ:WYNN), Vedanta Ltd (NYSE:VEDL), Western Digital Corporation (NASDAQ:WDC), and Icahn Enterprises LP (NASDAQ:IEP). All of these stocks' market caps match IQ's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position WYNN,46,1928962,3 VEDL,7,55731,2 WDC,25,566493,-8 IEP,6,10137794,2 Average,21,3172245,-0.25 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $3172 million. That figure was $718 million in IQ's case. Wynn Resorts, Limited (NASDAQ:WYNN) is the most popular stock in this table. On the other hand Icahn Enterprises LP (NASDAQ:IEP) is the least popular one with only 6 bullish hedge fund positions. iQIYI, Inc. (NASDAQ:IQ) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Hedge funds were also right about betting on IQ as the stock returned 81.7% and outperformed the market as well. You can see the entire list of these shrewd hedge funds here.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/fdra-recognizes-wolverine-shoe-carnival-215306105.html | 2019-04-04 21:53:06+00:00 | null | null | Footwear News | https://footwearnews.com/ | FDRA Recognizes Wolverine, Shoe Carnival & More at Annual Executive Summit | The Footwear Distributors and Retailers of America just wrapped up its annual executive summit in Washington, D.C. — and as part of the festivities, the lobbying group recognized a number of key industry companies and executives. “We recognize a number of players every year, particularly in sales and advocacy, as we think it’s important to recognize the hard work that a lot of consumers don’t get to see,” said Matt Priest, president and CEO of FDRA. Related stories Shoe Carnival Stock Sees Double-Digit Percent Gains on Q4 Earnings Beat The Winners of the 2019 Glass Slipper Awards at FN Platform How Boots Gave Shoe Carnival a Sales Boost This Fall Wolverine World Wide was lauded as the 2018 sales survey top performer, while Shoe Carnival was honored as the e-commerce top performer. “This year we awarded our first e-commerce award, as e-commerce is having such a big impact right now,” Priest said. “They have turned their retail stores effectively into mini distribution centers.” Each year, FDRA recognizes friends of the footwear industry. This year, the honor went to Sen. Ben Sasse (R-Neb.) and Rep. Ron Kind (D-Wisc). for their leadership in promoting international trade to strengthen the U.S. economy. Outgoing FDRA chairman Ed Rosenfeld, the CEO of Steve Madden, got props for his leadership and dedication to the organization during his two-year term. “He’s a mentor, a friend and so well-respected in the industry. He’s very even-keeled and navigates in a very thoughtful and strategic way,” Priest said. Other awards included: Columbia Sportswear , which was the 2018 advocate of the year for its work in pushing for lower shoe costs for consumers and the industry. Eric Harrison of The J. Renee Group was honored as 2018 individual advocate of the year for his efforts in advocating for lower shoes costs. Jeffrey Solomon of SG Footwear, was named FDRA’s 2018 Footwear Collaborator of the Year for his service to FDRA and the entire industry. FDRA also welcomed incoming chairman Mike Jeppesen, president of the heritage brands group and global operations group at Wolverine. “He’s a strategic and critical thinker, especially about how to run an organization during a period of change. Sign up for FN's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . |
https://finance.yahoo.com/news/class-action-khc-dplo-cag-215500175.html | 2019-04-04 21:55:00+00:00 | null | null | ACCESSWIRE | https://www.accesswire.com/ | CLASS ACTION UPDATE for KHC, DPLO and CAG: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders | NEW YORK, NY / ACCESSWIRE / April 4, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you. TheKraft Heinz Company ( KHC ) Class Period: July 6, 2015 - February 21, 2019 Lead Plaintiff Deadline: April 25, 2019 Join the action: https://www.zlk.com/pslra-1/the-kraft-heinz-company-loss-form?wire=3 Allegations: The Kraft Heinz Company made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (i) Defendants misrepresented that the Zero Based Budgeting (''ZBB'') and other cost-saving measures would deliver increased profitability while simultaneously maintaining base business momentum; (ii) Defendants failed to disclose known trends that were negatively impacting the Company's organic sales growth and profitability; (iii) Defendants falsely represented the ability of the Company's pipeline of new products to generate organic growth; (iv) Defendants falsely stated that ''main-stays like Oscar Mayer [and] Kraft cheese'' were ''tangible drivers of [a] turnaround in the second half of 2018''; (v) Defendants failed to disclose known trends that resulted in the intangible asset impairments associated with the Company's Oscar Mayer and Kraft brands; and (vi) Defendants failed to disclose known trends that resulted in the goodwill impairments affecting its U.S. Refrigerated and Canada Retail divisions. To learn more about the The Kraft Heinz Company class action contact [email protected] . DiplomatPharmacy, Inc. ( DPLO ) Class Period: February 26, 2018 - February 21, 2019 Lead Plaintiff Deadline: April 25, 2019 Join the action: https://www.zlk.com/pslra-1/diplomat-pharmacy-inc-loss-form?wire=3 Allegations: Diplomat Pharmacy, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Diplomat had downplayed its success in integrating and growing its PBM business, which included LDI Integrated and National Pharmaceutical, two companies Diplomat had acquired in late 2017; (2) consequently, Diplomat would need to record a non-cash impairment charge upwards of approximately $630 million relating to its PBM business and these 2017 acquisitions; (3) due to the foregoing, Diplomat would withdraw its preliminary 2019 full-year outlook issued less than seven weeks prior; and (4) as a result, defendants’ statements about Diplomat's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. Story continues To learn more about the Diplomat Pharmacy, Inc. class action contact [email protected] . ConagraBrands, Inc. ( CAG ) Class Period: Pursuant to the SPO on or about October 9, 2018 and/or between June 27, 2018 and December 19, 2018 Lead Plaintiff Deadline: April 23, 2019 Join the action: https://www.zlk.com/pslra-1/conagra-brands-inc-loss-form?wire=3 The complaint alleges that defendants failed to disclose material information, including that (i) Conagra inadequately performed proper due diligence in connection with the acquisition of Pinnacle; (ii) the performance of Pinnacle's three leading brands was not deteriorating due to intensified competition, but to self-inflicted subpar innovation and executional missteps; (iii) Pinnacle's business was performing so poorly that it had resorted to pushing promotional deals to retailers in an effort to boost sales; and (iv) as a result of the foregoing, Defendant’s public statements were materially false and/or misleading and/or lacked a reasonable basis when made. To learn more about the Conagra Brands, Inc. class action contact [email protected] . You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 55 Broadway, 10th Floor New York, NY 10006 [email protected] Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com SOURCE: Levi & Korsinsky, LLP View source version on accesswire.com: https://www.accesswire.com/541162/CLASS-ACTION-UPDATE-for-KHC-DPLO-and-CAG-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders View comments |
https://finance.yahoo.com/news/chart-day-mountain-us-debt-215521744.html | 2019-04-04 21:55:21+00:00 | null | null | The Fiscal Times | http://www.thefiscaltimes.com/ | Chart of the Day: The Mountain of US Debt | Global debt grew by only $3.3 trillion last year, raising the total to more than $243 trillion, according to a report released this week by the Institute of International Finance. Total U.S. debt, including corporate debt, households and the government, grew by $2.9 trillion, the largest annual growth since 2007. Increased government borrowing represented more than 40 percent of the rise. Total U.S. debt reached more than $68 trillion. However, borrowing has still risen at a slower pace than overall economic growth, pushing total debt-to-GDP ratio (326%) to its lowest level since 2005, the report says. It adds that while general government debt/GDP has been stable near 100% since 2015, it is over 30 percentage points above its pre-crisis peak and is set to rise sharply given projections of higher federal budget deficits and slowing economic activity. Like what you're reading? Sign up for our free newsletter . |
https://finance.yahoo.com/news/hedge-funds-think-lamb-weston-215606635.html | 2019-04-04 21:56:06+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Here’s What Hedge Funds Think About Lamb Weston Holdings, Inc. (LW) | After several tireless days we have finished crunching the numbers from nearly 750 13F filings issued by the elite hedge funds and other investment firms that we track at Insider Monkey, which disclosed those firms' equity portfolios as of December 31. The results of that effort will be put on display in this article, as we share valuable insight into the smart money sentiment towards Lamb Weston Holdings, Inc. (NYSE:LW).
IsLamb Weston Holdings, Inc. (NYSE:LW)the right pick for your portfolio? Investors who are in the know are becoming less hopeful. The number of long hedge fund positions decreased by 2 in recent months. Our calculations also showed that LW isn't among the30 most popular stocks among hedge funds.
Why do we pay any attention at all to hedge fund sentiment? Our research has shown that hedge funds' large-cap stock picks indeed failed to beat the market between 1999 and 2016. However, we were able to identify in advance a select group of hedge fund holdings that outperformed the market by 32 percentage points since May 2014 through March 12, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that'll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 27.5% through March 12, 2019. That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.
We're going to take a peek at the new hedge fund action regarding Lamb Weston Holdings, Inc. (NYSE:LW).
Heading into the first quarter of 2019, a total of 32 of the hedge funds tracked by Insider Monkey were long this stock, a change of -6% from the previous quarter. On the other hand, there were a total of 34 hedge funds with a bullish position in LW a year ago. With hedge funds' sentiment swirling, there exists a few noteworthy hedge fund managers who were adding to their holdings significantly (or already accumulated large positions).
The largest stake in Lamb Weston Holdings, Inc. (NYSE:LW) was held byMillennium Management, which reported holding $213.4 million worth of stock at the end of September. It was followed by Renaissance Technologies with a $141.4 million position. Other investors bullish on the company included AQR Capital Management, Two Sigma Advisors, and D E Shaw.
Due to the fact that Lamb Weston Holdings, Inc. (NYSE:LW) has witnessed a decline in interest from hedge fund managers, it's easy to see that there is a sect of money managers that slashed their positions entirely heading into Q3. It's worth mentioning that Peter Rathjens, Bruce Clarke and John Campbell'sArrowstreet Capitaldropped the biggest investment of the "upper crust" of funds monitored by Insider Monkey, worth close to $203 million in stock. Per Johanssoná's fund,Bodenholm Capital, also cut its stock, about $18.9 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest was cut by 2 funds heading into Q3.
Let's now review hedge fund activity in other stocks - not necessarily in the same industry as Lamb Weston Holdings, Inc. (NYSE:LW) but similarly valued. We will take a look at iQIYI, Inc. (NASDAQ:IQ), Wynn Resorts, Limited (NASDAQ:WYNN), Vedanta Ltd (NYSE:VEDL), and Western Digital Corporation (NASDAQ:WDC). This group of stocks' market caps match LW's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position IQ,25,717663,8 WYNN,46,1928962,3 VEDL,7,55731,2 WDC,25,566493,-8 Average,25.75,817212,1.25 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 25.75 hedge funds with bullish positions and the average amount invested in these stocks was $817 million. That figure was $895 million in LW's case. Wynn Resorts, Limited (NASDAQ:WYNN) is the most popular stock in this table. On the other hand Vedanta Ltd (NYSE:VEDL) is the least popular one with only 7 bullish hedge fund positions. Lamb Weston Holdings, Inc. (NYSE:LW) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 15 most popular stocks among hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Unfortunately LW wasn't in this group. Hedge funds that bet on LW were disappointed as the stock lost 5.2% and underperformed the market. If you are interested in investing in large cap stocks, you should check out thetop 15 hedge fund stocksas 13 of these outperformed the market.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/why-intermin-resources-ltds-asx-215700601.html | 2019-04-04 21:57:00+00:00 | null | null | Simply Wall St. | https://simplywall.st/ | Why Intermin Resources Ltd's (ASX:IRC) High P/E Ratio Isn't Necessarily A Bad Thing | Want to participate in a research study ? Help shape the future of investing tools and earn a $60 gift card! This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll show how you can use Intermin Resources Ltd's ( ASX:IRC ) P/E ratio to inform your assessment of the investment opportunity. Intermin Resources has a price to earnings ratio of 25.88 , based on the last twelve months. That means that at current prices, buyers pay A$25.88 for every A$1 in trailing yearly profits. View our latest analysis for Intermin Resources How Do You Calculate A P/E Ratio? The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Intermin Resources: P/E of 25.88 = A$0.13 ÷ A$0.0050 (Based on the trailing twelve months to December 2018.) Is A High P/E Ratio Good? A higher P/E ratio means that buyers have to pay a higher price for each A$1 the company has earned over the last year. All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Growth Rates Impact P/E Ratios Probably the most important factor in determining what P/E a company trades on is the earnings growth. That's because companies that grow earnings per share quickly will rapidly increase the 'E' in the equation. Therefore, even if you pay a high multiple of earnings now, that multiple will become lower in the future. So while a stock may look expensive based on past earnings, it could be cheap based on future earnings. Intermin Resources shrunk earnings per share by 61% over the last year. But it has grown its earnings per share by 11% per year over the last five years. How Does Intermin Resources's P/E Ratio Compare To Its Peers? The P/E ratio essentially measures market expectations of a company. You can see in the image below that the average P/E (13.3) for companies in the metals and mining industry is lower than Intermin Resources's P/E. Story continues ASX:IRC Price Estimation Relative to Market, April 4th 2019 Intermin Resources's P/E tells us that market participants think the company will perform better than its industry peers, going forward. Clearly the market expects growth, but it isn't guaranteed. So investors should always consider the P/E ratio alongside other factors, such as whether company directors have been buying shares . Remember: P/E Ratios Don't Consider The Balance Sheet The 'Price' in P/E reflects the market capitalization of the company. In other words, it does not consider any debt or cash that the company may have on the balance sheet. In theory, a company can lower its future P/E ratio by using cash or debt to invest in 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. Intermin Resources's Balance Sheet Intermin Resources has net cash of AU$6.3m. That should lead to a higher P/E than if it did have debt, because its strong balance sheets gives it more options. The Verdict On Intermin Resources's P/E Ratio Intermin Resources has a P/E of 25.9. That's higher than the average in the AU market, which is 16.2. The recent drop in earnings per share might keep value investors away, but the relatively strong balance sheet will allow the company time to invest in growth. Clearly, the high P/E indicates shareholders think it will! Investors should be looking to buy stocks that the market is wrong about. If the reality for a company is better than it expects, you can make money by buying and holding for the long term. Although we don't have analyst forecasts, you could get a better understanding of its growth by checking out this more detailed historical graph of earnings, revenue and cash flow. You might be able to find a better buy than Intermin Resources. If you want a selection of possible winners, check out this free list 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 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. |
https://finance.yahoo.com/news/hedge-funds-think-carmax-inc-215852271.html | 2019-04-04 21:58:52+00:00 | [] | Asma UL Husna | Insider Monkey | http://www.insidermonkey.com | Here’s What Hedge Funds Think About CarMax Inc (KMX) | "Market conditions are changing. The continued rise in interest rates suggests we are in the early stages of a bond bear market, which could intensify as central banks withdraw liquidity. The receding tide of liquidity will start to reveal more rocks beyond what has been exposed in emerging markets so far, and the value of a value discipline will be in avoiding the biggest capital-destroying rocks. If a rock emerges on the crowded shore of U.S. momentum, it could result in a major liquidity challenge, as momentum is often most intense on the downside as a crowded trade reverses. So investors are facing a large potential trade-off right now: continue to bet on the current dominance of momentum and the S&P 500, or bet on change and take an active value bet in names with attractive value and optionality, but with negative momentum," said Clearbridge Investments in itsmarket commentary. We aren't sure whether long-term interest rates will top 5% and value stocks outperform growth, but we follow hedge fund investor letters to understand where the markets and stocks might be going. This article will lay out and discuss the hedge fund and institutional investor sentiment towards CarMax Inc (NYSE:KMX).
IsCarMax Inc (NYSE:KMX)ready to rally soon? The best stock pickers are in a pessimistic mood. The number of long hedge fund positions went down by 3 in recent months. Our calculations also showed that KMX isn't among the30 most popular stocks among hedge funds.KMXwas in 28 hedge funds' portfolios at the end of December. There were 31 hedge funds in our database with KMX holdings at the end of the previous quarter.
So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the market by 32 percentage points since May 2014 through March 12, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter. Even if you aren't comfortable with shorting stocks, you should at least avoid initiating long positions in our short portfolio.
We're going to take a gander at the latest hedge fund action surrounding CarMax Inc (NYSE:KMX).
At Q4's end, a total of 28 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -10% from the previous quarter. On the other hand, there were a total of 30 hedge funds with a bullish position in KMX a year ago. So, let's see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
When looking at the institutional investors followed by Insider Monkey,Akre Capital Management, managed by Charles Akre, holds the biggest position in CarMax Inc (NYSE:KMX). Akre Capital Management has a $362.4 million position in the stock, comprising 4.6% of its 13F portfolio. Coming in second is Tom Gayner ofMarkel Gayner Asset Management, with a $308.2 million position; the fund has 5.9% of its 13F portfolio invested in the stock. Remaining members of the smart money with similar optimism comprise Lou Simpson'sSQ Advisors, Francois Rochon'sGiverny Capitaland D. E. Shaw'sD E Shaw.
Judging by the fact that CarMax Inc (NYSE:KMX) has experienced falling interest from the entirety of the hedge funds we track, logic holds that there exists a select few hedge funds who were dropping their entire stakes by the end of the third quarter. Interestingly, Bain Capital'sBrookside Capitalsold off the largest stake of the "upper crust" of funds watched by Insider Monkey, valued at about $22.1 million in stock. Louis Bacon's fund,Moore Global Investments, also cut its stock, about $18.7 million worth. These bearish behaviors are important to note, as total hedge fund interest was cut by 3 funds by the end of the third quarter.
Let's go over hedge fund activity in other stocks similar to CarMax Inc (NYSE:KMX). These stocks are Lamb Weston Holdings, Inc. (NYSE:LW), iQIYI, Inc. (NASDAQ:IQ), Wynn Resorts, Limited (NASDAQ:WYNN), and Vedanta Ltd (NYSE:VEDL). This group of stocks' market valuations resemble KMX's market valuation.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position LW,32,895466,-2 IQ,25,717663,8 WYNN,46,1928962,3 VEDL,7,55731,2 Average,27.5,899456,2.75 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 27.5 hedge funds with bullish positions and the average amount invested in these stocks was $899 million. That figure was $1431 million in KMX's case. Wynn Resorts, Limited (NASDAQ:WYNN) is the most popular stock in this table. On the other hand Vedanta Ltd (NYSE:VEDL) is the least popular one with only 7 bullish hedge fund positions. CarMax Inc (NYSE:KMX) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 15 most popular stocks among hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Unfortunately KMX wasn't in this group. Hedge funds that bet on KMX were disappointed as the stock lost 2.6% and underperformed the market. If you are interested in investing in large cap stocks, you should check out thetop 15 hedge fund stocksas 13 of these outperformed the market.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/k-j-apa-gary-sinise-215939332.html | 2019-04-04 21:59:39+00:00 | null | null | Deadline | http://www.deadline.com | K.J. Apa & Gary Sinise Join Lionsgate/Kingdom Studio Faith-Based Film ‘I Still Believe’ – CinemaCon | Riverdale ‘s K.J. Apa will play faith-based singer Jeremy Camp in Jon Erwin, Andrew Erwin and Kevin Downes’ I Still Believe it was announced at CinemaCon today by the Kingdom Studios chiefs. The movie follows the spiritual journey of Camp. Gary Sinise is also joining the film as Jeremy’s father. Related stories Rian Johnson's Dysfunctional Family Whodunit 'Knives Out' Flies High For Lionsgate At CinemaCon Camp has sold over 5 million albums and has toured the world, sharing his music in more than 36 countries. His kudos include four RIAA-certified Gold albums, two American Music Awards nominations, multiple ASCAP awards, 38 No. 1 songs, a Gold digital single (“There Will Be A Day”), a multi-Platinum DVD, and he was Billboard’s No. 2 artist of the decade in 2010. The Erwins will direct from a script by Jon Erwin and Jon Gunn. Downes and Erwins are producing I Still Believe under their Kingdom banner. Kingdom Studios recently announced their full slate of faith-based projects with Lionsgate last week . The studio’s I Can Only Imagine was a hit on the Christian circuit making over $83M via Lionsgate’s sister Roadside Attractions label last year. The pic followed the unknown true story behind MercyMe’s beloved, chart topping song that brings ultimate hope to so many is a gripping reminder of the power of true forgiveness. Apa is repped by Luber Roklin, Mandy Jacobson at Red 11 and UTA and Karl Austen/Jeff Hynick firm. Sinise is repped by CAA, Brillstein and Gochman Law Group. Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . |
https://finance.yahoo.com/news/bitcoin-price-careens-lower-bullish-220037202.html | 2019-04-04 22:00:37+00:00 | [] | Yashu Gola | CCN | https://www.ccn.com/ | Bitcoin Price Careens Lower But Bullish Trend Survives | Thebitcoin priceon Thursday depreciated as much as 10.33-percent against the US dollar.
The cryptocurrency reached an intraday low at $4,833 in an interim bearish correction. It was already trending inside an overbought zone when the downside action started. Traders found a decent opportunity to exit their long positions around bitcoin’s fresh yearly high at $5,342, prompting a sharp pullback towards $4,789, the higher-low from yesterday. The price didn’t extend the correction and started consolidating within a new trading range instead.
BITCOIN PRICE 1D CHART | SOURCE: TRADINGVIEW.COM, COINBASE
Coinbase data showed that bitcoin was more likely to extend its bearish correction to escape its overbought conditions. As of 20:21 UTC, theRSIwas well above 70, signaling that buyers won’t be able to extend the bullish momentum any further. A red candle appeared thereafter, bringing RSI a little closer towards 70. A further selling action could, therefore, appear as the ongoing session matures.
BITCOIN PRICE 1D CHART (ZOOM VERSION) | SOURCE: TRADINGVIEW.COM, COINBASE
An extended bearish correction could see bitcoin testing $4,738 – the 50% level of the Fibonacci retracement chart of the recent wave from 4134-low to 5342-high – as its next potential support. Nevertheless, it is the 78.6% level of the same wave that appears to be positioned ideally. The4393-support was a critical resistance levelfrom the November 29 trading session last year. Traders could consider it while opening new long orders.
We expect the bitcoin price to maintain its interim bullish bias as long as it stays above the ascending blue trendline. A break below it will push the price into a support zone, which was previously a critical resistance area. Bitcoin will resume its long-term downtrend only when it breaks below the green bar. Until then, it would keep its bullish momentum alive.
Read the full story on CCN.com. |
https://finance.yahoo.com/news/hedge-funds-think-universal-health-220100678.html | 2019-04-04 22:01:00+00:00 | [] | Asma UL Husna | Insider Monkey | http://www.insidermonkey.com | Here’s What Hedge Funds Think About Universal Health Services, Inc. (UHS) | Hedge fund managers like David Einhorn, Bill Ackman, or Carl Icahn became billionaires through reaping large profits for their investors, which is why piggybacking their stock picks may provide us with significant returns as well. Many hedge funds, like Paul Singer’s Elliott Management, are pretty secretive, but we can still get some insights by analyzing their quarterly 13F filings. One of the most fertile grounds for large abnormal returns is hedge funds’ most popular small-cap picks, which are not so widely followed and often trade at a discount to their intrinsic value. In this article we will check out hedge fund activity in another small-cap stock: Universal Health Services, Inc. (NYSE:UHS).
IsUniversal Health Services, Inc. (NYSE:UHS)a buy right now? Hedge funds are becoming less hopeful. The number of bullish hedge fund bets went down by 4 recently. Our calculations also showed that UHS isn't among the30 most popular stocks among hedge funds.UHSwas in 28 hedge funds' portfolios at the end of the fourth quarter of 2018. There were 32 hedge funds in our database with UHS holdings at the end of the previous quarter.
At the moment there are several indicators stock market investors employ to assess stocks. A couple of the less utilized indicators are hedge fund and insider trading moves. We have shown that, historically, those who follow the best picks of the top investment managers can trounce the market by a healthy amount (see the details here).
Let's go over the new hedge fund action surrounding Universal Health Services, Inc. (NYSE:UHS).
At the end of the fourth quarter, a total of 28 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -13% from one quarter earlier. By comparison, 34 hedge funds held shares or bullish call options in UHS a year ago. So, let's find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
More specifically,Glenview Capitalwas the largest shareholder of Universal Health Services, Inc. (NYSE:UHS), with a stake worth $228.8 million reported as of the end of September. Trailing Glenview Capital was Camber Capital Management, which amassed a stake valued at $104.9 million. Nokota Management, AQR Capital Management, and Healthcor Management LP were also very fond of the stock, giving the stock large weights in their portfolios.
Since Universal Health Services, Inc. (NYSE:UHS) has witnessed declining sentiment from the smart money, it's safe to say that there is a sect of fund managers that slashed their positions entirely in the third quarter. At the top of the heap, Jim Simons'sRenaissance Technologiesdumped the largest stake of the "upper crust" of funds followed by Insider Monkey, comprising about $41.5 million in stock, and Brett Barakett's Tremblant Capital was right behind this move, as the fund dropped about $34.9 million worth. These bearish behaviors are interesting, as total hedge fund interest dropped by 4 funds in the third quarter.
Let's go over hedge fund activity in other stocks - not necessarily in the same industry as Universal Health Services, Inc. (NYSE:UHS) but similarly valued. These stocks are Martin Marietta Materials, Inc. (NYSE:MLM), CarMax Inc (NYSE:KMX), Lamb Weston Holdings, Inc. (NYSE:LW), and iQIYI, Inc. (NASDAQ:IQ). This group of stocks' market caps resemble UHS's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position MLM,34,1960173,1 KMX,28,1430636,-3 LW,32,895466,-2 IQ,25,717663,8 Average,29.75,1250985,1 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 29.75 hedge funds with bullish positions and the average amount invested in these stocks was $1251 million. That figure was $735 million in UHS's case. Martin Marietta Materials, Inc. (NYSE:MLM) is the most popular stock in this table. On the other hand iQIYI, Inc. (NASDAQ:IQ) is the least popular one with only 25 bullish hedge fund positions. Universal Health Services, Inc. (NYSE:UHS) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Hedge funds were also right about betting on UHS, though not to the same extent, as the stock returned 15.2% and outperformed the market as well.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/why-maxar-technologies-stock-plummeted-220100771.html | 2019-04-04 22:01:00+00:00 | null | null | Motley Fool | http://www.fool.com/ | Why Maxar Technologies Stock Plummeted 45% in March | What happened Shares of Maxar Technologies (NYSE: MAXR) fell 45% in March, according to data from S&P Global Market Intelligence , after the space technology leader announced weaker-than-expected fourth-quarter 2018 results. To be sure, Maxar stock plunged more than 20% on March 1, 2019 alone -- the first trading day after the company's report hit the wires. In it, the company revealed its quarterly revenue had declined 9% year over year to $496 million, translating to a huge net loss of $950 million, or $16.10 per share. Analysts, on average, were expecting earnings of $1.06 per share on revenue closer to $560 million. Rocket launching from below IMAGE SOURCE: GETTY IMAGES. So what To be fair, that enormous loss came as the company recognized a net $883 million impairment charge related to a combination of the previously announced loss of its World View-4 satellite , saw headwinds in the GEO Comsat market, and had a decline in market value relative to its book value. The company also announced a restructuring that should reduce annual costs by $60 million to $70 million. That will include reducing the size of its GEO Comsat business -- which the company opted to keep following a strategic review of alternatives, including a potential sale -- "to better align its costs with revenue." Now what Maxar further opted to reduce its quarterly dividend to $0.01 per share (down from CAD$0.37 previously), which will provide another $60 million in annual cash flow. The company also received approval from its lenders to amend its credit facility for additional financial flexibility. As it stands, Maxar will remain focused on executing on its funded backlog (which ended the year at $2.4 billion) and winning new business. But until we see more signs of stabilization to that end, I suspect Maxar stock will remain under pressure. More From The Motley Fool 10 Best Stocks to Buy Today The $16,728 Social Security Bonus You Cannot Afford to Miss 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) What Is an ETF? 5 Recession-Proof Stocks How to Beat the Market Steve Symington has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . |
https://finance.yahoo.com/news/hedge-funds-think-martin-marietta-220419209.html | 2019-04-04 22:04:19+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Here’s What Hedge Funds Think About Martin Marietta Materials, Inc. (MLM) | Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback the hedge funds employing these talents and can benefit from their vast resources and knowledge in that way. We analyze quarterly 13F filings of nearly 750 hedge funds and, by looking at the smart money sentiment that surrounds a stock, we can determine whether it has the potential to beat the market over the long-term. Therefore, let’s take a closer look at what smart money thinks about Martin Marietta Materials, Inc. (NYSE:MLM).
Martin Marietta Materials, Inc. (NYSE:MLM)shareholders have witnessed an increase in hedge fund sentiment in recent months. Our calculations also showed that MLM isn't among the30 most popular stocks among hedge funds.
Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' large-cap stock picks indeed failed to beat the market between 1999 and 2016. However, we were able to identify in advance a select group of hedge fund holdings that outperformed the market by 32 percentage points since May 2014 through March 12, 2019 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that'll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 27.5% through March 12, 2019. That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.
Let's take a gander at the key hedge fund action regarding Martin Marietta Materials, Inc. (NYSE:MLM).
At the end of the fourth quarter, a total of 34 of the hedge funds tracked by Insider Monkey were long this stock, a change of 3% from one quarter earlier. By comparison, 35 hedge funds held shares or bullish call options in MLM a year ago. With hedge funds' positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were adding to their stakes considerably (or already accumulated large positions).
Among these funds,Select Equity Groupheld the most valuable stake in Martin Marietta Materials, Inc. (NYSE:MLM), which was worth $527 million at the end of the third quarter. On the second spot was Gardner Russo & Gardner which amassed $334.3 million worth of shares. Moreover, Egerton Capital Limited, Iridian Asset Management, and Soroban Capital Partners were also bullish on Martin Marietta Materials, Inc. (NYSE:MLM), allocating a large percentage of their portfolios to this stock.
As one would reasonably expect, some big names have jumped into Martin Marietta Materials, Inc. (NYSE:MLM) headfirst.Egerton Capital Limited, managed by John Armitage, assembled the most outsized position in Martin Marietta Materials, Inc. (NYSE:MLM). Egerton Capital Limited had $269.6 million invested in the company at the end of the quarter. Eric W. Mandelblatt and Gaurav Kapadia'sSoroban Capital Partnersalso initiated a $159.8 million position during the quarter. The other funds with new positions in the stock are Matt Simon (Citadel)'sAshler Capital, Eduardo Abush'sWaterfront Capital Partners, and Jos Shaver'sElectron Capital Partners.
Let's also examine hedge fund activity in other stocks similar to Martin Marietta Materials, Inc. (NYSE:MLM). These stocks are CarMax Inc (NYSE:KMX), Lamb Weston Holdings, Inc. (NYSE:LW), iQIYI, Inc. (NASDAQ:IQ), and Wynn Resorts, Limited (NASDAQ:WYNN). This group of stocks' market caps match MLM's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position KMX,28,1430636,-3 LW,32,895466,-2 IQ,25,717663,8 WYNN,46,1928962,3 Average,32.75,1243182,1.5 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 32.75 hedge funds with bullish positions and the average amount invested in these stocks was $1243 million. That figure was $1960 million in MLM's case. Wynn Resorts, Limited (NASDAQ:WYNN) is the most popular stock in this table. On the other hand iQIYI, Inc. (NASDAQ:IQ) is the least popular one with only 25 bullish hedge fund positions. Martin Marietta Materials, Inc. (NYSE:MLM) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 15 most popular stocks among hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Unfortunately MLM wasn't in this group. Hedge funds that bet on MLM were disappointed as the stock returned 12.8% and underperformed the market. If you are interested in investing in large cap stocks, you should check out thetop 15 hedge fund stocksas 13 of these outperformed the market.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/preliminary-report-says-ethiopia-crew-followed-boeing-rules-083648738--finance.html | 2019-04-04 22:05:13+00:00 | null | null | Associated Press | https://apnews.com/ | Ethiopian report says faulty sensor data led to jet crash | ADDIS ABABA, Ethiopia (AP) -- A doomed Ethiopian Airlines jet suffered from faulty readings by a key sensor, and pilots followed Boeing's recommended procedures when the plane started to nose dive but could not avoid crashing, according to a preliminary report released Thursday by the Ethiopian government. The findings draw the strongest link yet between the March 10 crash in Ethiopia and an October crash off the coast of Indonesia, which both involved Boeing 737 Max 8 jetliners. All 346 people on the two planes were killed. Both planes had an automated system that pushed the nose down when sensor readings detected the danger of an aerodynamic stall, and it now appears that sensors malfunctioned on both planes. Boeing acknowledged that the sensor malfunctioned and CEO Dennis Muilenburg said Thursday a new software update would prevent future incidents. "It's our responsibility to eliminate this risk," Muilenburg said in a video statement. "We own it, and we know how to do it." Thursday's preliminary report, based on flight data and cockpit voice recorders on the Ethiopian Airlines jetliner, showed that the faulty sensor touched off a series of events that caused the pilots to lose control of the plane. The report from Ethiopia's Aircraft Accident Investigation Bureau said the sensor problems began about a minute after the plane was cleared for takeoff. It said air speed and altitude values on the left side of the Ethiopian Airlines 737 Max conflicted with data from the right sensor, causing flight control problems. Eventually the pilots couldn't keep the plane from plummeting to the ground, killing all 157 people on board. The problems are similar to those reported on the Indonesian Lion Air flight that crashed last October. Investigators found that software on that plane took readings from the sensor and pointed the nose down. Thursday's revelations raise questions about repeated assertions by Boeing and U.S. regulators that pilots could regain control in some emergencies by following steps that include turning off an anti-stall system designed specifically for the Max, known by its acronym, MCAS. Story continues The Max has been grounded worldwide pending a software fix that Boeing is rolling out, which still needs to be approved by the U.S. Federal Aviation Administration and other regulators. In a statement, Boeing said that to make sure unintended activation of the MCAS system doesn't happen again, it is developing software and "associated comprehensive pilot training" for the Max. The software update, Boeing said, adds layers of protection and will stop erroneous data from activating the system. Ethiopian investigators did not specifically mention the MCAS, but recommended that Boeing review "the aircraft flight-control system related to the flight controllability." They also recommended that aviation officials verify that issues have been adequately addressed before allowing the planes to fly again. At a news conference, Ethiopia's Minister of Transport Dagmawit Moges said the Ethiopian Airlines crew "performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft." However, it wasn't clear whether the Ethiopian pilots followed Boeing's recommendations to the letter. The pilots initially followed Boeing's emergency steps by disconnecting the MCAS system by switching off power to a stabilizer on the tail, the report said. But they turned the system back on 32 seconds before hitting the ground and tried unsuccessfully to use it to point the nose up. Boeing's procedures instruct pilots to leave the MCAS disconnected and continue flying manually for the rest of the flight. The report said multiple alarms went off as the pilots struggled to control the plane, indicating an even more complex situation than in the Lion Air crash, said William Waldock, a professor of safety science at Embry Riddle Aeronautical University. "It's similar in a lot of ways but perhaps more extreme," he said. "It seems likely they've got more things going on at once in a shorter time period." The two pilots had just 159 hours of combined flying time on the Boeing 737 Max, a new aircraft that went into service in 2017. The 29-year-old captain had more than 8,000 flight hours overall, including more than 1,400 on older 737s, the report said. The 25-year-old co-pilot had only 361 total flight hours — not enough to be hired as a pilot at a U.S. airline. He flew 207 of those hours on 737s, including 56 hours on Max jets. Family members of crash victims said they were unsettled by the report's findings. "Today's preliminary report suggests Boeing could have done better in notifying the problem with the aircraft system early on," said Konjit Shafi, whose younger brother, Sintayehu Shafi, died in the crash. "This is causing us a great deal of pain. It is so sad to learn that our loved ones would have been spared if this problem was detected on time." Meanwhile, the family of a 24-year-old American woman killed in the crash sued Boeing on Thursday. The complaint, which also names Ethiopian Airlines and parts maker Rosemount Aerospace as defendants, alleged negligence and civil conspiracy among other charges. "Blinded by its greed, Boeing haphazardly rushed the 737 MAX8 to market" and "actively concealed the nature of the automated system defects," the lawsuit filed on behalf of the family of Samya Stumo alleged. Stumo is a great grand-niece of consumer advocate Ralph Nader. Nader called on consumers to boycott the MAX 8 and blasted the FAA for delegating so much responsibility in certifying the plane was safe to Boeing. "Those planes should never fly again," Nader said. "If we don't end the cozy relationship between the patsy FAA ... and the Boeing Company, 5,000 of these fatally flawed planes will be in the air all over the world with millions of passengers." Boeing is the focus of investigations by the U.S. Justice Department, the Transportation Department's inspector general and congressional committees. Investigations are also looking at the role of the FAA, which certified the Max in 2017, and declined to ground it after the first deadly crash in October. The agency was also reluctant to ground the planes after the Ethiopian Airlines crash and was among the last agencies to do so. The FAA, which must certify the 737 Max is safe before it can go back into the air, said in a statement that the investigation is still in its early stages. "As we learn more about the accident and findings become available, we will take appropriate action," the agency said. ___ Associated Press Writers Carlo Piovano in London, David Koenig in Dallas, Tom Krisher in Detroit, Noreen Nasir in Chicago and Bernard Condon in New York contributed to this report. |
https://finance.yahoo.com/news/did-hedge-funds-drop-ball-220640107.html | 2019-04-04 22:06:40+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Did Hedge Funds Drop The Ball On Arch Capital Group Ltd. (ACGL) ? | Hedge funds are not perfect. They have their bad picks just like everyone else. Facebook, a stock hedge funds have loved, lost nearly 40% of its value at one point in 2018. Although hedge funds are not perfect, their consensus picks do deliver solid returns, however. Our data show the top 15 S&P 500 stocks among hedge funds at the end of December 2018 yielded an average return of 19.7% year-to-date, vs. a gain of 13.1% for the S&P 500 Index. Because hedge funds have a lot of resources and their consensus picks do well, we pay attention to what they think. In this article, we analyze what the elite funds think of Arch Capital Group Ltd. (NASDAQ:ACGL).
Arch Capital Group Ltd. (NASDAQ:ACGL)was in 13 hedge funds' portfolios at the end of December. ACGL investors should pay attention to a decrease in activity from the world's largest hedge funds of late. There were 17 hedge funds in our database with ACGL positions at the end of the previous quarter. Our calculations also showed that ACGL isn't among the30 most popular stocks among hedge funds.
To the average investor there are many signals investors have at their disposal to appraise their stock investments. Two of the most underrated signals are hedge fund and insider trading signals. We have shown that, historically, those who follow the top picks of the top investment managers can outclass the market by a significant amount (see the details here).
We're going to take a look at the latest hedge fund action regarding Arch Capital Group Ltd. (NASDAQ:ACGL).
At the end of the fourth quarter, a total of 13 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -24% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards ACGL over the last 14 quarters. So, let's review which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Among these funds,FPR Partnersheld the most valuable stake in Arch Capital Group Ltd. (NASDAQ:ACGL), which was worth $470.4 million at the end of the third quarter. On the second spot was Polar Capital which amassed $205.4 million worth of shares. Moreover, Renaissance Technologies, D E Shaw, and Two Sigma Advisors were also bullish on Arch Capital Group Ltd. (NASDAQ:ACGL), allocating a large percentage of their portfolios to this stock.
Seeing as Arch Capital Group Ltd. (NASDAQ:ACGL) has experienced declining sentiment from hedge fund managers, it's safe to say that there were a few hedge funds who were dropping their full holdings last quarter. It's worth mentioning that Andrew Feldstein and Stephen Siderow'sBlue Mountain Capitalcut the biggest position of the "upper crust" of funds monitored by Insider Monkey, valued at about $3.5 million in stock. Matthew Tewksbury's fund,Stevens Capital Management, also said goodbye to its stock, about $2.4 million worth. These transactions are important to note, as aggregate hedge fund interest was cut by 4 funds last quarter.
Let's now review hedge fund activity in other stocks - not necessarily in the same industry as Arch Capital Group Ltd. (NASDAQ:ACGL) but similarly valued. We will take a look at Universal Health Services, Inc. (NYSE:UHS), Martin Marietta Materials, Inc. (NYSE:MLM), CarMax Inc (NYSE:KMX), and Lamb Weston Holdings, Inc. (NYSE:LW). All of these stocks' market caps match ACGL's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position UHS,28,735233,-4 MLM,34,1960173,1 KMX,28,1430636,-3 LW,32,895466,-2 Average,30.5,1255377,-2 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 30.5 hedge funds with bullish positions and the average amount invested in these stocks was $1255 million. That figure was $943 million in ACGL's case. Martin Marietta Materials, Inc. (NYSE:MLM) is the most popular stock in this table. On the other hand Universal Health Services, Inc. (NYSE:UHS) is the least popular one with only 28 bullish hedge fund positions. Compared to these stocks Arch Capital Group Ltd. (NASDAQ:ACGL) is even less popular than UHS. Considering that hedge funds aren't fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn't behind this stock. This isn't necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. Our calculations showed thattop 15 most popular stocksamong hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Hedge funds were also right about betting on ACGL as the stock returned 23% and outperformed the market as well. You can see the entire list of these shrewd hedge funds here.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/3-retail-stocks-buy-now-220810558.html | 2019-04-04 22:08:10+00:00 | [] | Benjamin Rains | Zacks | http://www.zacks.com/ | 3 Retail Stocks to Buy Right Now for Value & Income | The S&P 500 has climbed nearly 15% this year, driven by growth from tech giants. With that said, no matter how long the current rally lasts, it is always a good idea to search for stocks that provide great value and solid income.
Therefore, we have highlighted three retail stocks that present impressive value, pay a dividend, and earn a Zacks Rank #2 (Buy) or better at the moment.
1. Target TGT
Target’s full-year 2018 comparable sales were their strongest since 2005, up 5%. Plus, Target’s digital comps surged 36% to help extend a run of five straight years of at least 25% growth in the increasingly important retail category. Target, like rivals Walmart WMT, Costco, and Kroger KR, has ramped up its e-commerce business in order to better compete in a modern retail age. The Minneapolis-based retailer has introduced same-day delivery at many locations, redesigned stores, opened smaller locations in college towns and urban areas, and much more.
Looking ahead, our current Zacks Consensus Estimates call for Target’s adjusted first-quarter 2019 earnings to pop 8.3% on the back of 4.5% revenue growth. For the full-year, the Minneapolis-based retailer is expected to see its EPS figure jump 7.4% on 3.4% revenue expansion. The company has also seen a ton of positive earnings estimate revision activity for 2019 and 2020 to help Target earn a Zacks Rank #2 (Buy).
Target is a dividend payer that recently announced a $0.64 a share payout, for an annualized dividend of $2.56 and an impressive 3.23% yield. TGT stock is also trading at 13.5X forward 12-month Zacks Consensus. This marks a discount to the S&P 500’s 17X, its industry’s 25.7X average, and its own five-year high of 20.1X and 14.3X median. Plus, Target sports a P/S ratio of 0.54, which comes in below its industry’s 0.65 average. Target currently rocks “A” grades for Value and Growth in our Style Scores system and its stock price rests around 10% below its 52-week high, despite its 25% surge to start the year.
2. Best Buy BBY
Shares of Best Buy have soared over 40% in 2019 to double its industry’s average climb and crush the S&P. Some of BBY’s recent strength comes from a better-than-expected fourth quarter of its fiscal 2019, sparked by sales of headphones, accessories, and more. Meanwhile, the company’s full-year comps, including its website, climbed 4.8%. Last year was the electronics retailer’s fifth consecutive year of comps growth amid worries that e-commerce companies would undercut Best Buy.
The fellow Minnesota headquartered firm has rolled out more services, increased in-store pick for digital orders, introduced more price-matching, among other initiatives. The company’s appliances and electronics sales have also benefitted from once-mighty competitors like Sears closing so many stores. Best Buy’s fiscal 2020 earnings are projected to jump 5.8% to reach $5.63 per share. Peeking further ahead, the company’s full-year 2021 EPS figure is expected to jump 6.4% above our current year estimate.
BBY stock closed regular trading Thursday up 2.80% to $74.57 per share, which still gives the stock room to run before hitting its 52-week high of $84.37 per share. Best Buy’s price/sales ratio of 0.45 falls below its industry’s 0.74 as well as it peer Aaron's, Inc. AAN 0.93. The company is also trading just under its five-year median forward P/E at 12.7, which comes in well below its 18.2X high over this stretch. Best Buy is currently a Zack Ranks #2 (Buy) that pays an annualized dividend of $2.00 per share, with a yield of 2.76%.
3. Costco COST
The big-box grocery giant is coming off a better-than-expected Q2 fiscal 2019. COST stock has also jumped 20% to start the year. Costco’s e-commerce strength has helped drive growth. In fact, digital comps surged over 25% last quarter, boosted by Costco’s free two-day delivery for non-perishable food and household supplies, along with expanded same-day through its Instacart partnership.
Costco also recently proved its e-commerce strength as rivals such as Walmart and Target all roll out more digital offerings and delivery. On top of that, COST overtook Amazon’s AMZN spot as the number one internet retailer in terms of customer satisfaction in 2018, according to the American Customer Satisfaction Index. Looking ahead, Costco’s quarterly revenue is projected to jump 7.3% to reach $34.69 billion to match last quarter’s top-line expansion. Meanwhile, COST’s full-year revenues are projected to jump 7.6%, with its adjusted fiscal 2019 earnings expected to surge 15.8%.
Costco’s earnings estimate revision activity has also trended heavily in the right direction over the last 30 days, especially for 2019 and 2020. This positivity helps COST earn a Zacks Rank #2 (Buy). The company also pays an annualized dividend of $2.28, with a 0.94% yield. And Costco boasts “B” grades for Value, Growth, and Momentum and sports a 0.72 P/S ratio. Costco is also trading just a bit above its industry’s average forward P/E at 29.6.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportAaron's, Inc. (AAN) : Free Stock Analysis ReportBest Buy Co., Inc. (BBY) : Free Stock Analysis ReportTarget Corporation (TGT) : Free Stock Analysis ReportWalmart Inc. (WMT) : Free Stock Analysis ReportCostco Wholesale Corporation (COST) : Free Stock Analysis ReportThe Kroger Co. (KR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
https://finance.yahoo.com/news/hedge-funds-think-atmos-energy-220827253.html | 2019-04-04 22:08:27+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Here’s What Hedge Funds Think About Atmos Energy Corporation (ATO) | Insider Monkey finished processing more than 700 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of December 31st, 2018. In this article we are going to take a look at smart money sentiment towards Atmos Energy Corporation (NYSE:ATO).
Atmos Energy Corporation (NYSE:ATO)shareholders have witnessed an increase in support from the world's most elite money managers lately.ATOwas in 25 hedge funds' portfolios at the end of December. There were 15 hedge funds in our database with ATO positions at the end of the previous quarter. Our calculations also showed that ATO isn't among the30 most popular stocks among hedge funds.
In today’s marketplace there are several formulas stock market investors have at their disposal to appraise stocks. A pair of the best formulas are hedge fund and insider trading signals. Our researchers have shown that, historically, those who follow the top picks of the top hedge fund managers can beat the broader indices by a healthy amount (see the details here).
Let's go over the fresh hedge fund action regarding Atmos Energy Corporation (NYSE:ATO).
At the end of the fourth quarter, a total of 25 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 67% from the second quarter of 2018. The graph below displays the number of hedge funds with bullish position in ATO over the last 14 quarters. With the smart money's capital changing hands, there exists an "upper tier" of noteworthy hedge fund managers who were upping their stakes considerably (or already accumulated large positions).
Among these funds,Balyasny Asset Managementheld the most valuable stake in Atmos Energy Corporation (NYSE:ATO), which was worth $46.4 million at the end of the third quarter. On the second spot was Element Capital Management which amassed $40.9 million worth of shares. Moreover, AQR Capital Management, Luminus Management, and Carlson Capital were also bullish on Atmos Energy Corporation (NYSE:ATO), allocating a large percentage of their portfolios to this stock.
Now, specific money managers were leading the bulls' herd.Balyasny Asset Management, managed by Dmitry Balyasny, created the biggest position in Atmos Energy Corporation (NYSE:ATO). Balyasny Asset Management had $46.4 million invested in the company at the end of the quarter. Jeffrey Talpins'sElement Capital Managementalso made a $40.9 million investment in the stock during the quarter. The other funds with brand new ATO positions are Jonathan Barrett and Paul Segal'sLuminus Management, Peter J. Hark'sShelter Harbor Advisors, and Greg Poole'sEcho Street Capital Management.
Let's now review hedge fund activity in other stocks - not necessarily in the same industry as Atmos Energy Corporation (NYSE:ATO) but similarly valued. We will take a look at Arch Capital Group Ltd. (NASDAQ:ACGL), Universal Health Services, Inc. (NYSE:UHS), Martin Marietta Materials, Inc. (NYSE:MLM), and CarMax Inc (NYSE:KMX). This group of stocks' market values are similar to ATO's market value.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position ACGL,13,943212,-4 UHS,28,735233,-4 MLM,34,1960173,1 KMX,28,1430636,-3 Average,25.75,1267314,-2.5 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 25.75 hedge funds with bullish positions and the average amount invested in these stocks was $1267 million. That figure was $327 million in ATO's case. Martin Marietta Materials, Inc. (NYSE:MLM) is the most popular stock in this table. On the other hand Arch Capital Group Ltd. (NASDAQ:ACGL) is the least popular one with only 13 bullish hedge fund positions. Atmos Energy Corporation (NYSE:ATO) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 15 most popular stocks among hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Unfortunately ATO wasn't in this group. Hedge funds that bet on ATO were disappointed as the stock returned 10% and underperformed the market. If you are interested in investing in large cap stocks, you should check out thetop 15 hedge fund stocksas 13 of these outperformed the market.
Disclosure: None. This article was originally published atInsider Monkey.
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https://finance.yahoo.com/news/boeing-caterpillar-stocks-rise-investors-220847042.html | 2019-04-04 22:08:47+00:00 | null | null | CNBC | http://www.cnbc.com/ | Boeing, Caterpillar stocks rise as investors bet a China trade deal will come soon, Jim Cramer says | "A lot of money managers are betting we'll get a trade deal in the not-too-distant future, which is why Boeing and Caterpillar roared higher today," CNBC's Jim Cramer says. "While I'm very skeptical about these negotiations with China, because I know that [the U.S.] wants to keep the tariffs on no matter what, the stock market is saying: 'hey, a deal is a deal,'" the "Mad Money" host says. "This kind of positivity seems counterintuitive in the face of the conventional wisdom about this market," he says. Investors made a move on industrial stocks in anticipation that a U.S.-China trade agreement is near completion, CNBC's Jim Cramer said Thursday. "A lot of money managers are betting we'll get a trade deal in the not-too-distant future, which is why Boeing BA and Caterpillar CAT roared higher today," the "Mad Money" host said. The world's two largest economies reportedly made progress in trade talks this week, and stocks gained on the news . The Dow Jones Industrial Average, powered by Boeing's nearly 3 percent rise, added more than 166 points on the session and the S&P 500 gained 0.2 percent for its first six-day winning streak in more than a year. The Nasdaq, on the other hand, shed 0.1 percent. "While I'm very skeptical about these negotiations with China, because I know that [the U.S.] wants to keep the tariffs on no matter what, the stock market is saying: 'hey, a deal is a deal,'" Cramer said. "This kind of positivity seems counterintuitive in the face of the conventional wisdom about this market." Cramer said Boeing's stock should have fallen Thursday after investigators blamed the plane manufacturer , not the pilots, for an Ethiopian Airlines crash that killed 157 people last month. The company has been under scrutiny after two fatal 737 Max jet crashes within 5 months. Cramer also said the Federal Aviation Authority probe and software fix could cut into production of Boeing's top-selling jet, he said. Story continues But China, in an effort to show good faith in trade negotiations, could be prepared to make a "statement buy" for a ton of Boeing planes, the host said. "It would be greeted so positively, oh my, which is why I can't blame anyone for wanting to own the stock here, not sell it or short it," Cramer said. "Plus, look, we know Boeing's going to fix the problem, this is Boeing for heaven's sake. These guys are [passionate] about safety. As tragic as those two crashes were, I bet we ultimately move on and Boeing's business ends up doing fine." China could also buy equipment from Caterpillar, he said. Cramer said he was surprised that Deutsche Bank downgraded the stock on Wednesday. "They need earthmovers. So this could be a great time for the Chinese Communist Party to direct their state-owned enterprises to buy earthmovers from Caterpillar CAT instead of, say, Komatsu," he said. "I think that could turn out to be a very ill-advised downgrade." Additionally, retailers will be a winner if they a trade deal eases tariffs on Chinese imports, Cramer said. Investors could also be expecting a strong March jobs number to be released Friday, following a positive jobless claim report on Thursday, he said. "The consumer is alive and well. The economy is alive and well, too," Cramer said. "If we get a trade deal and those duties are withdrawn, you could raise numbers for most of the retailers immediately." WATCH: Cramer breaks down Thursday's action in Boeing and retail stocks Questions for Cramer? Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram Questions, comments, suggestions for the "Mad Money" website? [email protected] More From CNBC Cramer's lightning round: Vans is doing really well. Buy this stock |
https://finance.yahoo.com/news/schneider-logistics-releases-2019-transportation-220951918.html | 2019-04-04 22:09:51+00:00 | [] | FreightWaves | Benzinga | http://www.benzinga.com/ | Schneider Logistics Releases 2019 Transportation Industry Review To Help Shippers Prepare For The Rest Of 2019 | Schneider Logistics published its2019 Transportation Industry Review, arming shippers with the information they need to make short- and long-term distribution plans, budget freight costs and provide industry context to their broader audiences.
Schneider's supply chain professionals also use the information featured in the report to help customers build routing guide strategies and multi-year cost improvement plans.
Last year proved to be a challenging time for supply chain leaders, with linehaul rates climbing 15 percent and the cost of securing a truck through the spot market increasing an average of 20.6 percent over the year.
"Leading analysts believe increases will continue in 2019, but at a lower rate than last year. Now is the time to improve your network's resiliency and cost positioning," said incoming Schneider National President and CEO Mark Rourke in the report. "Your objective over the next two years should be on balancing the value triangle of cost, service and capacity."
The report utilizes expertise from inside the Schneider enterprise, as well as specialized knowledge from outside consultants. It contains several different outlooks and a handful of how-to sections, providing shippers several ways to improve their businesses.
Outlook sections include:
• Overall economic outlook
• Truckload rate outlook
• Less-than-truckload (LTL) outlook
• Intermodal outlook
• Flatbed outlook
• Bulk/energy outlook
• Air freight outlook
• Ocean outlook
• Transload/port drayage outlook
• Warehousing and distribution outlook
• Fuel outlook
• Regulatory and tariff outlook
• Livingston International, an expert in customs brokerage, trade consulting and international freight forwarding services, provided the air freight, ocean and regulatory outlooks.
How-to sections include:
• How to: Become a shipper of choice
• How to: Run a network bid
• How to: Run a BidSmart® Auction
• How to: Complete a network optimization study
• How to: Identify and quantify continuous improvement
Key highlights cited last year in Schneider Logistics' 2018 Transportation Industry Review included demand outpacing capacity in the first quarter, significant deterioration of primary contracted carrier utilization, spot freight cost peaking almost 40 percent above contracted transportation rates and overall shipper freight costs increasing.
Insight gained from the 2018 release prompted prompted several of the company's customers to strengthen their transportation routing guides.
"Supply chain leaders that rely on Schneider Logistics' expertise experienced favorable linehaul rates relative to both DAT and Cass industry benchmarks," Schneider General Manager of Supply Chain Management Michael Kukiela said in the report. "While Schneider wasn't immune from the impact of a tight transportation market, it successfully offset a portion of the increased costs through the results of its continuous improvement program, which yielded a 59 percent ROI for our supply chain management customers. Aggregating our $2.5 billion of customer-managed freight into collaborative bids, streamlining the carrier experience and driving competitive rates meant shippers that partnered with Schneider were better off in 2018."
Schneider's 2019 Transportation Industry Review once again helps supply chain leaders prepare for what is to come throughout the rest of the year. Proper preparation can be the difference between weathering the storm and being swept up in it.
Click here to download the 2019 TransportationIndustryReview.
Image sourced from Pixabay
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https://finance.yahoo.com/news/mackenzie-jeff-bezos-twitter-announce-173301159.html | 2019-04-04 22:10:28+00:00 | null | null | USA TODAY | https://www.usatoday.com/money/ | MacKenzie and Jeff Bezos finalize divorce; she keeps 25% of Amazon stake worth $35 billion | The Bezos divorce is now final. Both Amazon founder Jeff Bezos and author MacKenzie Bezos announced their parting in separate posts on Twitter Thursday. The couple, whose marriage was splashed all over the tabloids in the wake of Bezos' private emails to another woman being leaked, praised each other in their dueling tweets that also revealed that the Amazon founder will hold on to much of the couple's assets. The settlement leaves MacKenzie Bezos with a stake in the online shopping giant worth more than $35 billion. Speaking of his former wife, Jeff Bezos tweeted , "I'm grateful for her support and for her kindness in this process and am very much looking forward to our new relationship as friends and co-parents.'' Beyonce has a new partner: Beyonce, Adidas team up on sneakers, clothes and Ivy Park Walmart and Target say babies are us: What do you need when you're expecting a baby? Walmart, Target want to be the answer pic.twitter.com/oFGWPkK3dB — Jeff Bezos (@JeffBezos) April 4, 2019 A lot was on the line financially. Bezos, the founder of Amazon and owner of The Washington Post, is the richest man in the world. He will be able to keep 75% of the couple’s Amazon stock, along with voting control of his ex-wife’s shares “to support his continued contributions with the teams of these incredible companies,’’ MacKenzie Bezos said in a separate tweet, adding that she was “happy to be giving him all of my interests in the Washington Post and Blue Origin’’ as well. Amazon CEO Jeff Bezos and wife MacKenzie Bezos pose as they arrive at the headquarters of publisher Axel-Springer on April 24, 2018 where he will receive the Axel Springer Award 2018 in Berlin. The couple announced on January 9, 2019 on Twitter that they were divorcing Bezos’ marriage has been the fodder of gossip in the wake of the National Enquirer publishing racy text messages exchanged by Bezos and former television anchor Lauren Sanchez, with whom he is reportedly in a romantic relationship. Days earlier, Bezos had tweeted that he and MacKenzie were splitting after 25 years of marriage. In February, Bezos said in a post published on the website Medium that the Enquirer and its parent company AMI threatened to post embarrassing photos of him if Bezos did not say that the publication's reports on the relationship were not politically motivated. AMI CEO David Pecker is a supporter of President Trump, who has often criticized Bezos, as well as The Washington Post. pic.twitter.com/OJWn3OOLS6 — MacKenzie Bezos (@mackenziebezos) April 4, 2019 Sanchez's brother Michael has been accused of leaking the texts, which he has denied. Story continues More recently, an adviser to Bezos, Gavin De Becker, said in a story written for the Daily Beast that he believed Saudi Arabian officials, upset with the Post’s coverage of the slaying of writer and Saudi dissident Jamal Khashoggi, got “access to Bezos’ phone and gained private information.’’ Texting is the new yelling: Are you texters or yellers? Many families are turning to texting at home to 'talk' How to avoid getting hacked: Anyone can easily hack into your phone. Just ask Amazon CEO Jeff Bezos This article originally appeared on USA TODAY: MacKenzie and Jeff Bezos finalize divorce; she keeps 25% of Amazon stake worth $35 billion View comments |
https://finance.yahoo.com/news/why-hgl-limited-asx-hng-221037145.html | 2019-04-04 22:10:37+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Here’s why HGL Limited’s (ASX:HNG) Returns On Capital Matters So Much | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
Today we'll look at HGL Limited (ASX:HNG) and reflect on its potential as an investment. To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business.
First up, we'll look at what ROCE is and how we calculate it. Next, we'll compare it to others in its industry. Then we'll determine how its current liabilities are affecting its ROCE.
ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. In general, businesses with a higher ROCE are usually better quality. Overall, it is a valuable metric that has its flaws. Renowned investment researcher Michael Mauboussinhas suggestedthat a high ROCE can indicate that 'one dollar invested in the company generates value of more than one dollar'.
The formula for calculating the return on capital employed is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
Or for HGL:
0.072 = AU$2.2m ÷ (AU$44m - AU$13m) (Based on the trailing twelve months to September 2018.)
So,HGL has an ROCE of 7.2%.
See our latest analysis for HGL
One way to assess ROCE is to compare similar companies. We can see HGL's ROCE is meaningfully below the Trade Distributors industry average of 9.8%. This could be seen as a negative, as it suggests some competitors may be employing their capital more efficiently. Aside from the industry comparison, HGL's ROCE is mediocre in absolute terms, considering the risk of investing in stocks versus the safety of a bank account. It is possible that there are more rewarding investments out there.
As we can see, HGL currently has an ROCE of 7.2%, less than the 12% it reported 3 years ago. Therefore we wonder if the company is facing new headwinds.
When considering this metric, keep in mind that it is backwards looking, and not necessarily predictive. Companies in cyclical industries can be difficult to understand using ROCE, as returns typically look high during boom times, and low during busts. ROCE is only a point-in-time measure. You can check if HGL has cyclical profits by looking at thisfreegraph of past earnings, revenue and cash flow.
Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise. To counteract this, we check if a company has high current liabilities, relative to its total assets.
HGL has total liabilities of AU$13m and total assets of AU$44m. Therefore its current liabilities are equivalent to approximately 29% of its total assets. This is a modest level of current liabilities, which would only have a small effect on ROCE.
With that in mind, we're not overly impressed with HGL's ROCE, so it may not be the most appealing prospect. Of courseyou might be able to find a better stock than HGL. So you may wish to see thisfreecollection of other companies that have grown earnings strongly.
I will like HGL better if I see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying.
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. |
https://finance.yahoo.com/news/turkey-says-400-purchase-russia-221156398.html | 2019-04-04 22:11:56+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Turkey says S-400 purchase from Russia a 'done deal,' cannot be cancelled | (Adds quotes, details)
ANKARA, April 4 (Reuters) - Turkey's purchase of Russian S-400 missile defence systems, which has raised tensions with Washington, is a "done deal" and cannot be cancelled, Foreign Minister Mevlut Cavusoglu said on Thursday.
The United States and Turkey have been at loggerheads over Ankara's decision to purchase the S-400s, which are not compatible with NATO systems. Washington has warned that going forward with the deal could result in U.S. sanctions.
Washington has urged Turkey to purchase Raytheon Co Patriot defence systems instead of the S-400s, but Ankara has said that, even though it would like to make such a deal, it would only be possible if the right terms were agreed upon.
Speaking at a news conference on the sidelines of a visit to the United States, Cavusoglu said Turkey would like to purchase the Patriot systems, but it would not back out of its deal with Russia.
"We have told them I don't know how many months ago or years ago that it's a done deal, so we cannot cancel it," Cavusoglu said.
He said Turkey had received a new offer for the Patriot systems from the United States, which included prices and delivery dates, but added that they would negotiate.
However, Cavusoglu said the United States could not guarantee it would be able to sell the Patriot systems to Ankara due to an impasse in the U.S. Congress.
"The real problem is this: even today, the United States cannot give guarantees about selling the Patriots to Turkey. Can they give them tomorrow? They can’t guarantee it. Then who will meet my needs?" he said.
On Wednesday, Cavusoglu said Turkey had proposed forming a working group with the U.S. administration to ensure that the S-400 poses no threat to U.S. or NATO military equipment. He added that both the administration and Turkey should explain to the Congress why Turkey bought the S-400s.
Cavusoglu also said Turkey's relations with Russia were not an alternative to its alliances with NATO or its partnerships and ambitions with the European Union.
"We made our choice a long time ago, and now we need to have good relations with everybody and we have to balance that," he said. "We don't have to choose between this and that, but we have already made out decision and became a NATO ally." (Reporting by Tuvan Gumrukcu; editing by John Stonestreet and Tom Brown) |
https://finance.yahoo.com/news/latest-elaine-wynn-testifies-misconduct-221331007.html | 2019-04-04 22:13:18+00:00 | null | null | Associated Press | https://apnews.com/ | The Latest: Elaine Wynn testifies about misconduct claims | BOSTON (AP) — The Latest on the Massachusetts Gaming Commission's hearings on what Wynn Resorts knew about sexual misconduct allegations against Steve Wynn (all times local): 6:10 p.m. Elaine Wynn is defending her decision not to disclose to Massachusetts regulators a $7.5 million settlement her ex-husband Steve Wynn made to a former employee who accused him of rape. The state's gaming commission is holding hearings on what company leaders knew about allegations of sexual misconduct against Steve Wynn as it considers the fate of the company's license and its $2.6 billion Encore Boston Harbor resort. Steve Wynn has denied the allegations. Elaine Wynn co-founded Wynn Resorts and is the company's largest shareholder. She told the commission Thursday that she relied on the company's lawyers to decide what should be disclosed to regulators as the company sought a casino license in 2013. Wynn says she told the company's lawyer about the 2005 settlement in 2009. Board members say they didn't learn about the settlement until 2016. ___ 11:45 a.m. Massachusetts gambling regulators are questioning Wynn Resorts leaders about what they knew about allegations of sexual misconduct against company founder Steve Wynn. The state's gaming commission is resuming its questioning of new CEO Matt Maddox on Thursday. Maddox is a close confidant of company founder Steve Wynn. It's also expected to question Wynn's ex-wife Elaine Wynn, who is a major shareholder. It's the third and potentially final day of public hearings as regulators weigh whether the company is still suitable to hold a state casino license. A written decision is expected later and has implications for Encore Boston Harbor, the Boston-area resort the company hopes to open in June. The commission received a 200-page investigative report Tuesday that concluded company executives concealed allegations against Steve Wynn. He has denied the allegations. |
https://finance.yahoo.com/news/secoo-holding-limited-seco-q4-221333877.html | 2019-04-04 22:13:33+00:00 | [] | Motley Fool Transcribers, The Motley Fool | Motley Fool | http://www.fool.com/ | Secoo Holding Limited (SECO) Q4 2018 Earnings Conference Call Transcript | Image source: The Motley Fool.
Secoo Holding Limited(NASDAQ: SECO)Q4 2018 Earnings Conference CallApril 04, 2019,8:00 a.m. ET
• Prepared Remarks
• Questions and Answers
• Call Participants
Operator
Hello, ladies and gentlemen, thank you for standing by, for Secoo Holding Limited's Fourth Quarter and Full Year 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded.
I will now turn the call over to your host, Ms. Jingbo Ma, Board Secretary of the Company. Please go ahead, Jingbo.
Jingbo Ma--Investor Relations Contact Officer
Hello, everyone, and welcome to the fourth quarter and full-year 2018 earnings conference call of Secoo Holding Limited. The Company's results were issued via newswire services earlier today and have been posted online. You can download the earnings press release and sign up to the Company's distribution list by visiting the IR section of our website at ir.secoo.com. Mr. Richard Li, our Founder, Chairman and Chief Executive Officer; and Mr. Shaojun Chen, our Chief Financial Officer, will start the call with their prepared remarks, followed by a question-and-answer session.
Before we continue, please note that today's discussion will contain forward-looking statement made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statement involve inherent risks and uncertainties. As such, the Company's results may be materially different from the views expressed today. Further information regarding this and other risks and uncertainties is included in the Company's registration statement on Form F1 and Form 20-F as filed with the US Securities and Exchange Commission.
The Company does not assume any obligation to update any forward-looking statement except as required under applicable law. Please also note that Secoo's earning press release and this conference call includes discussion of unaudited GAAP financial information as well as unaudited non-GAAP financial measures. Secoo's earning press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures.
I will now turn the call over to our Chairman and CEO, Mr. Richard Li. Please go ahead.
Richard Rixue Li--Chairman and Chief Executive Officer
(foreign language) Hello, everyone, and thank you for joining us today.
(foreign language) Hello everyone, and thank you for joining us today.
(foreign language) 2018 was a remarkable year for Secoo as it marks our 10th anniversary since our founding, as a leading integrated online and offline platform dedicated to providing premium lifestyle products and services. Our value proposition is centered around Secoo's ability to seek out and curate a comprehensive selection of trendsetting luxurious manufacturers, providers, distributors and influencers. We provide boutique products from all over the world while delivering a highly customized of premium services in both our online and offline channels. As such, Secoo is firmly committed to providing an exclusive luxury experience to our customers seeking this lifestyle.
(foreign language) With respect to the expansion of our omnichannel boutique lifestyle platform in 2018, we not only mapped out our business with important special interest segments such as, Secoo Lifestyle, Secoo Ming, Secoo Art, enabling Oracle Cloud (ph), Secoo International portal, but also frequently establish the cross-over collaborations. For example, we have reached a strategic partnership with high-end international consumer brand and service providers, including Liberty London, an iconic British department store brand, the Parkson Retail, SASSEUR Group, Ruyi Group, Will's Group and Caissa Travel, therefore consistently strengthening Secoo's, leading position in the global luxurious lifestyle industry.
(foreign language) For the fourth quarter of 2018, we continued to achieve robust growth in operating performance. GMV reached RMB3.08 billion, representing year-over-year growth of 58.5% increase. The fourth quarter is a traditional strong season for online consumption, and we also realized strong users and sales growth by maximizing the opportunity to sell during the influential consumer events, such as Double-11 and Secoo's own Luxury Festival, which begins annually on December 17th. Leveraging on our innovative marketing effort, the number of our active customers in the fourth quarter increased by approximately 80% year-over-year increase to a record high of 410,000. Furthermore, we achieved rapid growth in the active customer base for the full-year of 2018 with a 70% year-over-year increase to 730,000.
(foreign language) During Secoo's 2018 Global Luxury Festival, which catered to the shopping demand of high-end customers, Secoo launched a series of strong marketing campaigns such as Luxury Fast (ph) Life, Luxury Culture Tour and new Luxury Brand Show. Behind the scene, Secoo extensively utilized Big Data in analyzing consumption habit, preference and demand of our upscale customers. In this way, we are able to optimize the product mix from our existing business while leveraging the advantage of superior external resources to curate a optimal mix of offerings. Also, we have been able to successfully extend our premium offering using a rotation of fresh service and product, which meet our customer's unique taste for both boutique brands and services, which provide our customer with elevated shopping experiences.
Another highlight of 2018 Global Luxury Festival was the achievement of integrating our omni-channel strategies in an effort to build on collaborations with strategic partners. This is showcased by a tourism exhibition featuring exclusive tourism offering at a average price about RMB13,000 through integrated online and offline marketing activities in collaboration with Caissa Travel, as well as a variety of mutual sales promotion activities in collaboration with SASSEUR Group. Such activities extended a opportunity to simply integrate online and offline sales channels.
In addition, we just announced a strategic partnerships with the national airport and downtown duty-free store operator, China National Service Corporation. This partnership further expand our omni-channel portfolio, with the aim to lead the new retail mode of omni-channel solution in the domestic duty-free consumer industry.
(foreign language) Secoo strives for increasing its brand awareness and enhancing its market penetration in the luxury consumption and high-end lifestyle market, through leading-edge strategies and activities. In March 2019, we continued to host Secoo's Supershe Festival sales campaign, primarily focusing on beauty product promotion, while we deploy a variety of trendy marketing method to drive sales across all categories and collaborated with certain brands to extend membership rights.
Secoo achieved a GMV of RMB450 million during the Supershe marketing campaign. Also notably in recent days, Secoo has signed a strategic business collaboration agreement with Spring Studios and Spring Place, which is home to prestigious events such as New York Fashion Week and Tribeca Film Festival. Through the partnership, Secoo will broaden and deepen connections to the global fashion community driving international expansion initiatives, which not only promote a diverse catalog of upscale product and less sales services but also foster creative connectivity with key influencers at the intersection of art, fashion, media and luxury brands.
(foreign language) We also made strides in expanding and deepening our relationship with various premium lifestyle brands, solidifying our reputation and influence in the luxury goods and fashions wear. From the fourth quarter to date, we established a new direct partnership with over a 100 brands, including Michael Kors, Ports, Marni, Trussardi, Rene Caovilla, Moose Knuckles, Jason Wu, MSGM, Paul & Joe and Jenny Packham.
In November 2018, BAZAAR Jewelry, a world-famous fashion jewelry brand together with 16 other top independent domestic Chinese jewelry design brands landed on the Secoo platform. Followed by the brand's entry, Secoo partnered with the BAZAAR Jewelry for its 2018 BAZAAR Jewelry Award Event. Top influencers from the Jewelry industry including the President of Bvlgari, China; Cartier, China; Graff, China; and Cindy Chao, the art jewelry designer and President of Chow Sang Sang Group together with over 100 domestic celebrities attended the event. The best in design award for jewelry were also selected during this event and simultaneously launched on both Secoo's website and mobile app. Secoo and brand Karl Lagerfeld have also established a strategic cooperation and will cooperate in omni-channel solutions, co-branded lifestyle products, joint creation of fashion IP creation, also the age segmented marketing and so on.
(foreign language) Recently, we also formed a strategic collaboration with Italy's well-known luxury fashion online retailer, LuisaViaRoma LVR. Through the collaboration, LVR will offer a selection of sought-after European luxury fashion brands on Secoo's platform to our premium customers. Leveraging the partnership, we will further strengthen our supply chain in Europe. LVR appoints Secoo as its exclusive third-party distributor in China, including Hong Kong, Macau and Taiwan.
In April 2019, Secoo entered into a business agreement with El Corte Ingles, a European leader in department stores and a benchmark in Spanish distribution, to sell fashion and luxury products from El Corte Ingles on Secoo's online e-commerce platform, bringing expanded and varied shopping selection to Chinese customers.
(foreign language) We have seen Chinese consumers continue to seek out premium merchandise and the consumption upgrade trends continue to be resilient despite the macro slowdown. To further add to this, more and more consumer demand is emerging especially among the millennials, who favor adventurous and interactive experience, high quality goods contributing to the sense that they have made well informed purchases. Leveraging our online and offline integrated platform, business reputation and brand strength, Secoo is uniquely positioned to curate and to fulfill the premium lifestyle consumption needs in China, which consumers not only enjoying luxury and fashion goods, but also access a wide variety of upscale lifestyle offerings, including high end tourism, creative arts, sports and fitness to name a few emerging trends.
In March, Secoo reached a cooperation agreement with Utour Group Corporation Limited, a leading outbound travel agency by fully leveraging our respective advantages. We are dedicated to promote the online and offline integration and shared membership benefit, providing customer more shopping choices in select shops and brand stores during the overseas tour and constructing a comprehensive online and offline sales network. So far Utour and Secoo have jointly launched a big (ph) two-day Japanese shopping tourism product. Also in the fourth quarter, we established collaboration with the Forbidden City and the Xiling Seal Engravers' Society. Both are owners of super art and cultural IP in China to promote a series of co-branded creative products, which so far have been well received by our customers.
In March this year, Secoo was authorized by Beijing Tung Chung (ph) Tourism Council as a special partner with a signed collaboration MoU and was also authorized to aggregate tourism brand resources and conduct tourist product under the IP of the Forbidden City.
This partnership further expand Secoo's selection of lifestyle tourism product covering hot cultural heritage, such as Palace Museum and Temple of Heaven and popular tourist destination such as Tiananmen and Wangfujing Commercial Centers, as well as various famous folk culture experience product. In April, we also broadened the point of sale for high-end art and established a strategic collaboration with Art Chengdu International Contemporary Art Fair. According to the agreement, Secoo is the exclusive online co-organizer, will simultaneously exhibit more than 400 art works from 30 famous domestic and foreign galleries for sale.
(foreign language) I also wanted to address a bit on our business expansion in the first fashion lifestyle offerings. We officially launched the Secoo Sports in 2018, catering to a elite community who engage in the active sports lifestyle. Secoo Sports covers a wide range of businesses, including selling professional sports equipment, providing high end sports services and promoting sought-after sports brands. In this segment, the focus is on projects such as golf, equestrian, skiing, pedal and ball games and cycling to achieve the cross-selling opportunities across high-end sports equipment brand and elite sports services. In January, Secoo participated in ISPO Beijing, the largest and most influential exhibition in the sports fashion industry in Asia-Pacific region. It demonstrates our brand strength and footprint in this field, aiming to lead a trend toward boutique lifestyle. Taking a few examples of our effort in the fourth quarter, we continue to tap into the rising popularity of winter sports. In addition to working with major ski equipment brands, setting up a winter sports social community with Secoo's membership brands to offer shopping recommendations and discovery services.
Secoo also hosted a membership event in partnership with premium golf equipment brand Callaway, extended upscale sports lifestyle into children centered activities such as American Football trials for kids, Golf Family Day and horse riding adventures for teenagers.
(foreign language) We believe our ability to leverage premium and securities product and services offerings combined with superior B2C data analytics round out our core capacity and position us well to capture the rapid growth and the significant market potential in our industry. In the fourth quarter of 2018, Secoo upgraded its operating infrastructure based on Oracle's Cloud Platform architecture and utilizing Big Data. Secoo's front and back-end systems now have higher inter-operational from a financial reporting and operational standpoint. Operational data and information flow are now consolidated, shared and transferred to the financial system in real time, providing intelligence driven digital platform for faster domestic expansion, as well as serving as the technological backbone of the global platform as a whole.
We are confident that digitalization will serve as important booster for Secoo's growth. In this regard, we will continue to focus on data driven innovation and development, in-house technology capability in core algorithm, which drive intelligence business decision making in the operation and application of new technology course such as AI, AR and Blockchain in the business.
(foreign language) Benefiting from expansion of our brand recognition, large customer base and proactive customer engagement and strong data driven digital marketing capability, we continued robust momentum in our advertising sales through the quarter, illustrated by a 237% year-over-year increase and 294% year-over-year or quarter-over-quarter increase. In 2018, we served 36 advertisers operation top tier brands in segments such as automotive, luxury goods line, financial services and smart product. Notably, Secoo partnered with Sina Weibo to publish a white paper for luxury spending power, addressing user profile of luxury shoppers on Weibo. This combined shopping data from Secoo's online platform and online social behavior of customers through Weibo accounts including their engagement habits, rich KOL and collaborative referrals. This white paper is regarded as a invaluable study addressing how to successfully implement digital marketing for high-end rent on Weibo. Additionally, leveraging transaction data on Secoo's platform, we continue to sync up this Tencent user behavior data having several luxury including Roger Vivier, TSF, (inaudible) on the WeChat platform.
(foreign language)
With 2019 as the start of our second package of operation, we will embrace the evolution of our business. Keeping a sharp eye on industry trend, we will remain focused on customer-centric strategy, increasing economy of scale with rapid growth of GMV, upgrade our paying membership program with a continued effort to accelerate number of active users. We will further improve our omni-channel platform with widened product selections while speeding up the development of our Secoo International portals. In the meantime, we will keep expanding and deepening brand partnership, explore opportunities for cross-over collaborations and joint product development in various product categories, upgrade our premium consumer services with innovations. We will also strengthen our technology, management and supply chain operations. We are aggregating resources that take advantage of our channels to achieve sustainable growth in both business operation and financial performance.
(foreign language) With that, I will now turn the call over to our CFO, Mr. Shaojun Chen, who will discuss our key operating metrics and financial result.
Shaojun Chen--Chief Financial Officer
(foreign language) Thank you, Richard and hello everyone. (foreign language) We are pleased that our fourth quarter financial performance continued to demonstrate our solid growth momentum. During the quarter, we reported net revenue of RMB1.79 billion, a 27% year-over-year increase. For fiscal year ended 2018, we reported net revenue of RMB5.39 billion, representing a 44% year-over-year increase. We exhibit a healthy profitability with income from operation increasing by 475% and 131% on a year-over-year basis for the fourth quarter and full year 2018, respectively benefiting from the continuous expansion of our business operation and enhanced operating efficiency and delivered net profit for the 10th consecutive quarter.
(foreign language) Now I'd like to walk you through our detailed financial result in the fourth quarter of 2018. (foreign language) GMV increased by 58.5% to RMB3.08 billion for the fourth quarter of 2018 from RMB1.94 billion for the same period of last year. (foreign language) Total number of orders increased by 72% to 945,000 for the fourth quarter of 2018 from 549,000 for the fourth quarter of 2017.
(foreign language) Total net revenue for the fourth quarter of 2018 increased by 27% to RMB1.79 billion from RMB1.41 billion in the fourth quarter of 2017, primarily attributable to the continuous expansion of our operation or less offerings of merchandise and services combined with our creative and effective marketing activities driving the growth in our total active customers and total number of orders served during the period.
(foreign language) Cost of revenue increased by 22.2% to RMB1.46 billion for the fourth quarter of 2018 from RMB1.19 billion for the fourth quarter of 2017. With expanding direct collaboration with international brands, we were able to lower our cost of revenue and improve our gross profit margin for the period.
(foreign language) Gross profit increased by 52.5% to RMB334 million for the fourth quarter of 2018 from RMB219 million for the fourth quarter of 2017, primarily due to the gross margin increase in our merchandise sales as well as our marketplace platform, advertising and other service revenue increased. The gross margin was 18.7% for the fourth quarter of 2018, increased by 320 basis points from 15.5% for the fourth quarter of 2017.
(foreign language) The operating expense increased by 28.3% to RMB265 million for the fourth quarter of 2018 from RMB207 million for the fourth quarter of 2017. Now I'd like to walk you through the expense items in details as follows.
(foreign language) Our fulfillment expense increased by 6.9% to RMB40.1 million for the fourth quarter of 2018 from RMB37.5 million for the fourth quarter of 2017. The increase was primarily attributable to the increase of sales volume and total number of orders revealed, which resulting increased delivery expenses, packaging cost and third-party payment commissions. Our improved operation efficiency also have mitigating our fulfillment expense during the period.
(foreign language) Our marketing expense increased by 56.4% to RMB153.7 million for the fourth quarter of 2018 from RMB98.3 million for the fourth quarter of 2017. The increase was primarily due to the continuous investment in our marketing and brand awareness promotions, as well as, the compensation and benefit expenses for our sales-related stuff.
(foreign language) Technology and content development expenses increased by 13.3% to RMB21.3 million for the fourth quarter of 2018 from RMB18.8 million for the fourth quarter of 2017. The increase was primarily due to the continuous investment in our technology department, including increase in the number of our technology stuff.
(foreign language) Our general and administrative expense decreased by 3.8% to RMB50.3 million for the fourth quarter of 2018 from RMB52.2 million for the fourth quarter of 2017. The decrease was primarily attributable to the decrease in stock-based compensation in 2018, offsetting by the increase in staff compensation and benefits during the period.
(foreign language) Our operating income for the fourth quarter of 2018 was RMB69.1 million, representing 475.8% increase from RMB12 million for the fourth quarter of 2017.
(foreign language) Non-GAAP operating income, which excludes share-based compensation expense, increased by 43.5% to RMB75.5 million for the fourth quarter of 2018 from RMB52.5 million for the fourth quarter of 2017.
(foreign language) We recorded income tax expense of RMB10.7 million in the fourth quarter of 2018 compared to a income tax benefit of RMB32.3 million for the fourth quarter of 2017, primarily attributable to the deferred tax benefit in 2017.
(foreign language) We recorded net income of RMB48.3 million for the fourth quarter of 2018 increase by 2.8% from a net income of RMB47 million for the fourth quarter of 2017. As a result of incremental interest expense from our convertible bonds, the income tax expenses our net income growth was lower than the operating income growth during the period.
(foreign language) Non-GAAP net income, which excludes share-based compensation expense, decreased by 37.4% to RMB54.8 million in the fourth quarter of 2018 from RMB87.5 million in the fourth quarter of 2017, primarily attributable to the increase in interest expense from our convertible notes and income tax expense.
(foreign language) Net income attributable to ordinary shareholders of Secoo for the fourth quarter of 2018 was RMB46.5 million compared to a net income of RMB47 million for the fourth quarter of 2017.
(foreign language) Basic and diluted net income per ADS were RMB0.92 and RMB0.89 respectively for the fourth quarter of 2018 compared to basic and diluted net income per ADS of RMB0.92 and RMB0.88 respectively in the fourth quarter of 2017.
(foreign language) Basic and diluted non-GAAP net income per ADS were RMB1.05 to RMB1.02 respectively, for the fourth quarter of 2018 compared to this basic and diluted non-GAAP net income per ADS of RMB1.71 and RMB1.64 respectively for the fourth quarter of 2017.
(foreign language) As of December 31, 2018, the Company had cash, cash equivalents and restricted cash of RMB1.195 billion. (ph)
(foreign language) To be mindful of the length of our earnings call, for the full-year 2018 financial result, I will encourage listeners to refer to our earnings press release for further details.
(foreign language) Now for our first quarter of 2019 outlook.
(foreign language) Starting from the fourth quarter of 2018, we have been undergoing a shift from our marketplace platform to -- in order to improve profitability. As a result, our GMV and revenue mix might be relatively different from our previous business models.
(foreign language) The Company currently expect total net revenue for the first quarter of 2019 to be in the range of RMB0.97 billion and RMB1.07 billion, which would represent an increase of approximately 21% to 33% on a year-over-year basis.
(foreign language) The above the guidance is based on current market condition and reflects to the Company's current and preliminary estimate of market and operating conditions and customer demand, which are subject to change.
(foreign language) This concludes our prepared remarks. We will now open the call to questions. Operator, please go ahead.
Operator
Ladies and gentlemen, we will now begin the question-and-answer session. (Operator Instructions) Your first question comes from the line of Karen Chan from Jefferies. Please ask your question.
Karen Chan--Jefferies -- Analyst
(foreign language) I'll go ahead and translate myself. My first question is for within the other revenue, what's the mix between marketplace service and others and can management give us more color on the breakdown of marketplace by category, including direct brand partnership, advertising, travel services, et cetera? What's the commission rate by category and how do we guarantee our product authentication process for online marketplace products?
Second question is, given the structural business mix change, how should we think about 2019 GMV and revenue growth, respectively, and is there any implications to outgrow the operating margin expansion target? And lastly, from a big picture perspective, any thoughts you can share with us regarding the change in competitive landscape given the partnership between Alibaba and Net-a-Porter and also JD and Glenfiddich? How do we plan to differentiate against the peers? Thank you very much.
Shaojun Chen--Chief Financial Officer
(foreign language) Hello, our CFO, Mr. Shaojun Chen answered the first and second question. So for the first question, Secoo is strategically positioned to build up a boutique lifestyle and service platform. In the year 2018, we continued to reinforce the well developed categories, such as apparel, watch and bags while expanding offerings in new categories that consumers have substantial interest, such as beauty products, the 3C (ph) electronic appliance, (inaudible) to diversify and create a comprehensive structure of trendsetting product (ph) offering.
(foreign language)
In the fourth quarter, especially taking the opportunity during the influential promotional activities such as the Double-11 and Luxury Festival of December '17, we not only achieved the strong sales in dominant categories, but also to some extent promote sales in tourism (inaudible) as such our GMV in the fourth quarter grew by 58.5% on year-over-year basis with market based business generating approximately 30% of the total GMV. Currently, depending on our collaboration with suppliers, we now have three corporation (ph) models, namely marketplace, consignment, and stocking.
(foreign language) I would like to you a breakdown in terms of categories. (foreign language) So the 3C -- the electronics appliance takes the overall GMV at 4.03%. (foreign language) Beauty takes 2.92%. (foreign language) The footwear and accessories take around 8.6%. (foreign language) The tourism and luxury takes around 7.8%.
(foreign language) Besides a few interest in the suppliers and products that we engage with for market based models, including first a direct-to-brand cooperation; second, a standardized 3C digital product; third, for the service offering, we choose well-known brand with high-quality services; the fourth is, we have long-term collaboration (inaudible) product and it can guarantee high quality. In the meantime, we require the product or marketplace must complying with our platform's policy of quality. We attach great importance to customers' feedback so as to implement entire process control.
(foreign language)
So, for the first question -- for the second question, so as we remain focused on executing our strategies we expect our GMV will continue to scale up to fastest pace.
(foreign language)
The estimate our GMV for the first quarter of 2019 will grow over 55% on a year-over-year basis. However, the accounting treatment for marketplace business is different from merchandise sales and revenue growth is a slower than the GMV growth. In terms of the gross margin, increasing contribution from the marketplace business is good for us to improve our margins. We estimate the gross margin for the 2019 will be up approximately 200 basis points.
(foreign language) Our Founder answered the third question. We are pleased there is a tremendous market demand and great potential for long-term development in China's upscale market. Secoo is positioned to provide premium lifestyle products and services to address this market demand and clearly differentiate us this competitive advantages. So there will not be substantial change in the competitive landscape. We will continue our strategy of strengthening brands, channel and crossover collaborations, increase more high-end goods and services, improve our supply chain system around the world, integrating online and offline omni-channel operations and vigorously developing premium membership programs. This is the difference between the us and other competitors.
(foreign language) So our active user have been rapidly growing with 78% year-over-year increase for the full year of 2018. Our accumulated registered users reached 27 million as of the end of 2018 with ever growing customer loyalty, which is reflected by a 51% retention rate. The excellent performance of our business demonstrates our advantages and potential in the space of high-end consumption and service segments. So we are quite competent.
Karen Chan--Jefferies -- Analyst
Thank you very much.
Richard Rixue Li--Chairman and Chief Executive Officer
Thank you.
Operator
Thank you. As there are no further questions, now I'd like to turn the call back over to the Company for closing remarks.
Jingbo Ma--Investor Relations Contact Officer
Thank you once again for joining us today. If you have any further questions, please feel free to contact the Secoo's Investor Relations through the contact information provided on our website or The Piacente Group Investor Relations whose information is also on our website.
Operator
This concludes this conference call. You may now disconnect your lines. Thank you.
Duration: 70 minutes
Jingbo Ma--Investor Relations Contact Officer
Richard Rixue Li--Chairman and Chief Executive Officer
Shaojun Chen--Chief Financial Officer
Karen Chan--Jefferies -- Analyst
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https://finance.yahoo.com/news/jurors-hear-final-arguments-opioid-bribe-scheme-case-204818946.html | 2019-04-04 22:14:26+00:00 | null | null | Associated Press | https://apnews.com/ | Jurors hear final arguments in opioid bribe scheme case | BOSTON (AP) In a scheme to get doctors to write prescriptions in exchange for cash, a wealthy drug company founder put patients at risk to guarantee his business' success, a federal prosecutor told jurors Thursday in his closing arguments in the closely-watched trial. Meanwhile, an attorney for Insys Therapeutics Founder John Kapoor sought to poke holes in the government's case, calling its two star witnesses liars with conflicting stories and accusing prosecutors of targeting Kapoor so just so they can tout a high-profile conviction. "The story cannot be true and they don't care because they have had their eye on this man, and these people for years," Attorney Beth Wilkinson said. "They want to show that they can take the guy at the top ... and they don't care if the other guys make up their story," she said. Kapoor and four other former executives of the Chandler, Arizona-based company are charged with conspiring to pay doctors millions of dollars in the form of fees for sham speaking events about the drug a highly addictive fentanyl spray meant for patients with severe cancer pain. Prosecutors said Insys staffers also misled insurers about patients' medical conditions and posed as doctors' office employees in order to get payment approved for the costly opioid. Assistant U.S. Attorney Nathaniel Yeager told jurors that Kapoor and the others targeted reckless prescribers and tracked how much money the company got in return for the bribes because they were consumed by their own financial gain. "First, do no harm became: First do what you're told. First, do what you agreed to do. First, before the patient, take care of us," Yeager said. One of the government's star witnesses was the company's former vice president of sales who's cooperating for the chance at a lighter sentence. Alec Burlakoff, who pleaded guilty, told jurors last month that Insys sought out as "business partners" doctors who were known to write lots of prescriptions for people who didn't need it. Story continues "Pill mills for us meant dollar signs," Burlakoff said. "It was not run the other way. It was run to the pill mill." Wilkinson said Burlakoff was the one plotting the scheme with doctors and that he and former CEO Michael Babich are lying in order to protect themselves. She also blasted prosecutors for trying to paint the drug as dangerous, arguing that it legitimately helped people suffering from serious pain. Kapoor invested heavily in the company because he truly believed in the power of the drug, she said. "He had every reason to believe that this was good for patients. And he put his money where his mouth is," she said. Closing arguments are expected to continue Friday in the case, which began in January. ____ Follow Alanna Durkin Richer at http://www.twitter.com/aedurkinricher |
https://finance.yahoo.com/news/drugmakers-jazz-alexion-lundbeck-pay-171031397.html | 2019-04-04 22:16:58+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Drugmakers Jazz, Alexion, Lundbeck to pay $123 mln to resolve U.S. charity kickback probe | (Adds details about "conduit" allegation, further details on Lundbeck's case)
By Nate Raymond
BOSTON, April 4 (Reuters) - Three drugmakers will pay $122.6 million to resolve claims they used charities that help cover Medicare patients' out-of-pocket drug costs as a way to pay kickbacks aimed at encouraging use of their medications, including some expensive ones.
The U.S. Justice Department on Thursday said Jazz Pharmaceuticals Plc, Lundbeck and Alexion Pharmaceuticals Inc were the latest companies to settle claims stemming from an industry-wide probe of drugmakers' financial support of patient assistance charities.
The government in an earlier settlement said drugmakers used such charities as a means to improperly pay the copay obligations of Medicare patients using their drugs, in violation of the Anti-Kickback Statute.
The investigation came amid growing attention to soaring U.S. drug prices. Copays are partly meant to serve as a check on healthcare expenses by exposing patients to some of a drug's cost.
Jazz will pay $57 million, Lundbeck will pay $52.6 million and Alexion will pay $13 million.
None of the companies admitted wrongdoing, a fact Lundbeck and Jazz noted in separate statements. Alexion said the settlement recognized "significant" positive changes at the company.
Drug companies are prohibited from subsidizing copayments for patients enrolled in the government's Medicare healthcare program for those aged 65 and older. Companies may donate to non-profits providing copay assistance as long as they are independent.
But according to the settlement agreements, the drugmakers used certain charities as "conduits" to pay patients' copays.
The government alleged Alexion in 2010 asked a foundation to set up a fund to support patients using Soliris, a treatment for two rare blood disorders that costs over $500,000 annually.
While such funds are typically set up to help patients afford treatments for a given disease or condition, the government said Alexion discussed wanting the fund to support only patients using Soliris.
The department said Jazz asked a foundation to set up funds to cover copays for patients using its narcolepsy treatment Xyrem and its Prialt pain medication.
The foundation's funds almost exclusively assisted patients using those two drugs through 2014 and referred pain patients seeking help paying for drugs other than Prialt elsewhere, the government said.
The department said Lundbeck, beginning in 2011, donated to a charity's fund that ostensibly covered only copays for patients with Huntington's Disease.
The fund actually helped patients who used its Xenazine drug for any condition, including unapproved ones, the government said. Medicare and a health care program for veterans subsequently paid claims for Xenazine. (Reporting by Nate Raymond in Boston Editing by Susan Thomas and Bill Berkrot) |
https://finance.yahoo.com/news/apos-why-dexcom-shares-slumped-222100475.html | 2019-04-04 22:21:00+00:00 | [] | Todd Campbell, The Motley Fool | Motley Fool | http://www.fool.com/ | Here's Why DexCom Shares Slumped 14.5% in March | After a report wasreleased by short-sellerslast month highlighting threats facing the company, shares inDexCom(NASDAQ: DXCM)stumbled 14.5% in March, according toS&P Global Market Intelligence.
DexCom'scontinuous glucose monitors(CGMs) help diabetics track their blood glucose levels better, reducing dangerous blood sugar highs and lows and potentially slowing disease progression.
IMAGE SOURCE: GETTY IMAGES.
In 2018, DexCom sales soared 44% year over year to $1.032 billion following the launch of its latest system, the G6. In 2019, sales could be harder to come by, though, according to short-seller Spruce Point Capital Management. In a report released last month, Spruce Point said the launch ofAbbott Labs'(NYSE: ABT)next-generation Freestyle Libre CGM and a maturing market among type 1 patients could cause DexCom to lose significant value.
Currently, DexCom competes againstMedtronic's Guardian brand of CGMs and the first-generation Freestyle Libre, a CGM that, unlike DexCom's G6, still requires patients to prick their fingers during the first 11 hours of wear to confirm readings -- and doesn't include blood glucose high and low alarms.
Abbott's already next-generation finger-stick-less Freestyle Libre has launched overseas, and while there's no timeline for a potential launch in the U.S., an eventual release could challenge DexCom because G6 sensors are approved for only 10 days of wear, while Freestyle Libre's sensors can be worn for 14 days. The longer wear can reduce patient's costs, making it attractive to patients with limited insurance coverage for the G6.
In 2019, DexCom doesn't expect to deliver growth similar to 2018, but it's still targeting revenue to increase by 15% to 20% to $1.175 billion- $1.225 billion. DexCom's also said its plan is to grow sales at a compounded annual rate of 15% through 2023.
Although more type 1 diabetics are using CGMs than ever before, the opportunity to penetrate the market for type 2 patients and others in need of monitoring, such as patients with gestational diabetes, is significant. Only 12.5% of the roughly 200 million people with diabetes worldwide achieve their desired blood glucose target.
The G6 is the only CGM to have secured an FDA approval for interoperability, so it stands to benefit from next-generation blood glucose control systems, including automated insulin devices fromTandem DiabetesandInsulet, and smart pen solutions atEli LillyandNovo Nordisk, the two largest manufacturers of insulin products. Tandemlaunchedits first automated system last year; Insulet's system is expected next year; and Eli Lilly and Novo Nordisk's solutions are on deck.
Furthermore, DexCom could benefit from the anticipated launch of its G7 in 2020. Developed with help from Verily, a healthcare technology company spun off fromAlphabet, the G7 is expected include a low-cost, disposable sensor that may allow DexCom to penetrate the type 2 market more effectively.
The threat posed by Abbott Labs shouldn't be ignored, but the size of this market and the potential advances in the next 12 to 24 months could make buying shares on this sell-off wise.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Todd Campbellowns shares of Alphabet (C shares) and DexCom. His clients may have positions in the companies mentioned.The Motley Fool owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool recommends Insulet and Novo Nordisk. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/jack-osbourne-reportedly-punched-in-the-head-at-la-coffee-shop-222143077.html | 2019-04-04 22:21:43+00:00 | null | null | Yahoo Celebrity | https://www.yahoo.com/celebrity | Jack Osbourne reportedly punched in the head | Jack Osbourne is reportedly OK after being attacked Wednesday in Studio City, Calif. TMZ first reported that Osbourne was sitting on the sidewalk outside of a coffee shop with his back to the street when a man, who appeared to be homeless, “sucker punched” him on the right side of his head. Osbourne threw his coffee at the culprit before the man ran away, though he’s since been located and arrested for battery and assault. Jack Osbourne attends Build Series on Aug. 3, 2016, in NYC. (Photo: Monica Schipper/WireImage) The Los Angeles Police Department confirmed the report to Yahoo Entertainment. Osbourne’s rep did not respond to a request for information on his condition. Osbourne’s divorce from wife Lisa Stelly was finalized last month. They share three young daughters: Pearl, Andy and Minnie. He has been outspoken about having been diagnosed with multiple sclerosis in 2012. The 33-year-old reality TV star’s father, rocker Ozzy Osbourne , made news of his own Thursday, when he announced the cancellation of his performances scheduled for 2019 for health reasons. The elder Osbourne, 70, is recovering from both a bout of pneumonia and a fall at his home. OZZY will postpone all his tour dates as he recovers from injury sustained while dealing with pneumonia. Ozzy fell at his Los Angeles home aggravating years-old injuries (from his 2003 ATV accident) that required surgery. Shows will be rescheduled beginning in Feb 2020 — Ozzy Osbourne (@OzzyOsbourne) April 4, 2019 Back in December 2018, he told Yahoo Entertainment that he was enjoying the idea of (healthy) downtime more and more. “I just want to slow it down and spend more time with my grandchildren, my family, my wife, because it gets lonely,” the “Crazy Train” singer said. “Because now I don’t drink or get loaded. I don’t go out; I just stay in my room. And I think my life passes me by. Suddenly I’m 69, 70 — I’m 70 [this] December.” However, the Prince of Darkness does expect to hit the road again, beginning in February 2020. Story continues Read more on Yahoo Entertainment: Slash's iconic black hats expected to fetch big bucks at auction Sugar Ray singer Mark McGrath reveals that he's losing his hearing Kanye West's exclusive Sunday Service is the hottest ticket in town Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle’s newsletter. |
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