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https://finance.yahoo.com/news/jeff-bezos-retain-75-percent-173335807.html | 2019-04-04 22:21:54+00:00 | null | null | Reuters | https://www.reuters.com/ | Jeff Bezos keeps Amazon voting power in divorce settlement | By Jeffrey Dastin and Arjun Panchadar (Reuters) - Amazon.com Inc Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion (£109.4 billion) stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online retailer. The world's richest couple had announced their impending divorce in a joint Twitter statement in January, causing some to worry that Jeff Bezos could wind up with less Amazon voting power or that he or MacKenzie would liquidate large positions. It takes the issue off the table, with less turbulence than you might have expected, said an investor, whose company owns several million dollars worth of Amazon shares but who asked for anonymity because of a firm policy. MacKenzie Bezos will wind up with a stake in Amazon that is worth roughly $36 billion. Her shares represent a 4 percent stake in Amazon, according to a regulatory filing by the company. The Amazon shares will make her the world's third-richest woman while Jeff Bezos will remain the world's richest person, according to Forbes. The Bezos tweeted separately on Thursday that under their settlement MacKenzie will give up her interests in the Washington Post, which Jeff Bezos bought in 2013 and which has been a frequent target of criticism from U.S. President Donald Trump, and the rocket company Blue Origin he founded in 2000. "Grateful to have finished the process of dissolving my marriage with Jeff," MacKenzie Bezos said in her tweet outlining the divorce settlement, the first and only post from an account created this month. The two did not provide any further financial details about the settlement. "INFLUENCE WOULD BE THE SAME" Amazon, the world's biggest online retailer, said in the filing that 4 percent of its outstanding shares would be registered in MacKenzie Bezos' name after court approval of the divorce, which is expected to occur in about 90 days. Story continues Jeff Bezos, whom Amazon listed in its most recent proxy statement as its single largest shareholder with a 16.3 percent stake, will keep sole voting authority over the shares unless MacKenzie donates them to a nonprofit or sells them in the open market. Amazon shares closed down 0.1 percent at $1,818.86. Jeff Bezos, 55, is seen as essential to Amazon's meteoric growth and stock price rise since he founded the company as an online bookseller in 1994. He has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon. "When I think about Amazon, and the influence Bezos has on Amazon, I would argue his influence would be the same if he had 51 percent shares outstanding or 1 percent. I think his influence is dictated by his vision for Amazon," D.A. Davidson analyst Tom Forte said. MacKenzie Bezos' stake in Amazon is worth more than the market values of nearly 70 percent of the components of the S&P 500. The settlement also suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts, even though the divorce had jolted the once-private Bezos couple into the public spotlight. Jeff Bezos re-tweeted MacKenzie's statement and added in a separate post that he was grateful "for her support and for her kindness in this process." Liat Sadler, a San Francisco matrimonial lawyer, said the settlement should put investors at ease. Theyve done a lot of work behind the scenes to make their breakup as amicable as it seems, she said. Still, Sadler added, Without knowing what cash she received, I have no idea how favourable it was to him or not." The day they announced their separation on Twitter, the National Enquirer promised to reveal an affair it claimed had ended their marriage, contrary to the couple's statement that they were on a "long period of loving exploration and trial separation." The U.S. tabloid then published alleged photos and intimate text messages between Bezos and his new partner, former television news anchor Lauren Sanchez. (Reporting by Jeffrey Dastin in San Francisco and Arjun Panchadar in Bengaluru; Writing by Meredith Mazzilli; editing by Nick Zieminski, Bill Berkrot and Leslie Adler) |
https://finance.yahoo.com/news/jeff-bezos-retain-75-percent-couples-amazon-stake-173120269--finance.html | 2019-04-04 22:22:33+00:00 | [] | By Jeffrey Dastin and Arjun Panchadar | Reuters | https://www.reuters.com/ | Jeff Bezos keeps Amazon voting power in divorce settlement | By Jeffrey Dastin and Arjun Panchadar (Reuters) - Amazon.com Inc Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online retailer. The world's richest couple had announced their impending divorce in a joint Twitter statement in January, causing some to worry that Jeff Bezos could wind up with less Amazon voting power or that he or MacKenzie would liquidate large positions. “It takes the issue off the table, with less turbulence than you might have expected,” said an investor, whose company owns several million dollars worth of Amazon shares but who asked for anonymity because of a firm policy. MacKenzie Bezos will wind up with a stake in Amazon that is worth roughly $36 billion. Her shares represent a 4 percent stake in Amazon, according to a regulatory filing by the company. The Amazon shares will make her the world's third-richest woman while Jeff Bezos will remain the world's richest person, according to Forbes. The Bezos tweeted separately on Thursday that under their settlement MacKenzie will give up her interests in the Washington Post, which Jeff Bezos bought in 2013 and which has been a frequent target of criticism from U.S. President Donald Trump, and the rocket company Blue Origin he founded in 2000. "Grateful to have finished the process of dissolving my marriage with Jeff," MacKenzie Bezos said in her tweet outlining the divorce settlement, the first and only post from an account created this month. The two did not provide any further financial details about the settlement. "INFLUENCE WOULD BE THE SAME" Amazon, the world's biggest online retailer, said in the filing that 4 percent of its outstanding shares would be registered in MacKenzie Bezos' name after court approval of the divorce, which is expected to occur in about 90 days. Jeff Bezos, whom Amazon listed in its most recent proxy statement as its single largest shareholder with a 16.3 percent stake, will keep sole voting authority over the shares unless MacKenzie donates them to a nonprofit or sells them in the open market. Amazon shares closed down 0.1 percent at $1,818.86. Jeff Bezos, 55, is seen as essential to Amazon's meteoric growth and stock price rise since he founded the company as an online bookseller in 1994. He has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon. "When I think about Amazon, and the influence Bezos has on Amazon, I would argue his influence would be the same if he had 51 percent shares outstanding or 1 percent. I think his influence is dictated by his vision for Amazon," D.A. Davidson analyst Tom Forte said. MacKenzie Bezos' stake in Amazon is worth more than the market values of nearly 70 percent of the components of the S&P 500. The settlement also suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts, even though the divorce had jolted the once-private Bezos couple into the public spotlight. Jeff Bezos re-tweeted MacKenzie's statement and added in a separate post that he was grateful "for her support and for her kindness in this process." Liat Sadler, a San Francisco matrimonial lawyer, said the settlement should put investors at ease. “They’ve done a lot of work behind the scenes to make their breakup as amicable as it seems,” she said. Still, Sadler added, “Without knowing what cash she received, I have no idea how favorable it was to him or not." The day they announced their separation on Twitter, the National Enquirer promised to reveal an affair it claimed had ended their marriage, contrary to the couple's statement that they were on a "long period of loving exploration and trial separation." The U.S. tabloid then published alleged photos and intimate text messages between Bezos and his new partner, former television news anchor Lauren Sanchez. (Reporting by Jeffrey Dastin in San Francisco and Arjun Panchadar in Bengaluru; Writing by Meredith Mazzilli; editing by Nick Zieminski, Bill Berkrot and Leslie Adler) |
https://finance.yahoo.com/news/jeff-bezos-retain-75-percent-173120858.html | 2019-04-04 22:22:33+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Jeff Bezos keeps Amazon voting power in divorce settlement | By Jeffrey Dastin and Arjun Panchadar
(Reuters) - Amazon.com Inc Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online retailer.
The world's richest couple had announced their impending divorce in a joint Twitter statement in January, causing some to worry that Jeff Bezos could wind up with less Amazon voting power or that he or MacKenzie would liquidate large positions.
“It takes the issue off the table, with less turbulence than you might have expected,” said an investor, whose company owns several million dollars worth of Amazon shares but who asked for anonymity because of a firm policy.
MacKenzie Bezos will wind up with a stake in Amazon that is worth roughly $36 billion. Her shares represent a 4 percent stake in Amazon, according to a regulatory filing by the company. The Amazon shares will make her the world's third-richest woman while Jeff Bezos will remain the world's richest person, according to Forbes.
The Bezos tweeted separately on Thursday that under their settlement MacKenzie will give up her interests in the Washington Post, which Jeff Bezos bought in 2013 and which has been a frequent target of criticism from U.S. President Donald Trump, and the rocket company Blue Origin he founded in 2000.
"Grateful to have finished the process of dissolving my marriage with Jeff," MacKenzie Bezos said in her tweet outlining the divorce settlement, the first and only post from an account created this month.
The two did not provide any further financial details about the settlement.
"INFLUENCE WOULD BE THE SAME"
Amazon, the world's biggest online retailer, said in the filing that 4 percent of its outstanding shares would be registered in MacKenzie Bezos' name after court approval of the divorce, which is expected to occur in about 90 days.
Jeff Bezos, whom Amazon listed in its most recent proxy statement as its single largest shareholder with a 16.3 percent stake, will keep sole voting authority over the shares unless MacKenzie donates them to a nonprofit or sells them in the open market.
Amazon shares closed down 0.1 percent at $1,818.86.
Jeff Bezos, 55, is seen as essential to Amazon's meteoric growth and stock price rise since he founded the company as an online bookseller in 1994. He has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon.
"When I think about Amazon, and the influence Bezos has on Amazon, I would argue his influence would be the same if he had 51 percent shares outstanding or 1 percent. I think his influence is dictated by his vision for Amazon," D.A. Davidson analyst Tom Forte said.
MacKenzie Bezos' stake in Amazon is worth more than the market values of nearly 70 percent of the components of the S&P 500.
The settlement also suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts, even though the divorce had jolted the once-private Bezos couple into the public spotlight.
Jeff Bezos re-tweeted MacKenzie's statement and added in a separate post that he was grateful "for her support and for her kindness in this process."
Liat Sadler, a San Francisco matrimonial lawyer, said the settlement should put investors at ease.
“They’ve done a lot of work behind the scenes to make their breakup as amicable as it seems,” she said. Still, Sadler added, “Without knowing what cash she received, I have no idea how favorable it was to him or not."
The day they announced their separation on Twitter, the National Enquirer promised to reveal an affair it claimed had ended their marriage, contrary to the couple's statement that they were on a "long period of loving exploration and trial separation."
The U.S. tabloid then published alleged photos and intimate text messages between Bezos and his new partner, former television news anchor Lauren Sanchez.
(Reporting by Jeffrey Dastin in San Francisco and Arjun Panchadar in Bengaluru; Writing by Meredith Mazzilli; editing by Nick Zieminski, Bill Berkrot and Leslie Adler) |
https://finance.yahoo.com/news/microsoft-employees-confront-ceo-over-222301946.html | 2019-04-04 22:23:01+00:00 | null | null | The Guardian | https://www.theguardian.com/international | Microsoft employees confront CEO over company's treatment of women | Microsoft employees are protesting against the company’s alleged failure to stem gender discrimination and sexual harassment, according to reports. Related: Gender pay gap figures show eight in 10 UK firms pay men more than women A group of Microsoft employees dressed in all white challenged the company’s chief executive, Satya Nadella, and top human resources executive, Kathleen Hogan, over the company’s treatment of women at a Q&A session on Thursday, according to Wired . The all-white outfits were a reference to the US congresswomen who wore white during Donald Trump’s State of the Union address this February. The protest followed weeks of internal discussion about sexism on an email thread that began on 20 March, when a female employee who had been in the same position for six years asked other women for advice on advancement, according to Quartz . Dozens of female employees of the company responded by sharing their experiences of harassment and discrimination on the email thread. “This thread has pulled the scab off a festering wound,” one employee wrote, according to Quartz. “The collective anger and frustration is palpable. A wide audience is now listening. And you know what? I’m good with that.” Another employee alleged that it was common for female employees to be “called a bitch at work”, and a third said she was twice asked to “sit on someone’s lap” during a meeting when executives and HR representatives were present. Related: Contact the Guardian securely Hogan joined the email thread, and Microsoft provided her email as comment. “We are appalled and sad to hear about these experiences,” Hogan wrote. “It is very painful to hear these stories and to know that anyone is facing such behavior at Microsoft. We must do better.” The executive wrote that the company’s chief diversity officer would be holding sessions to hear feedback in April, and invited employees to report negative experiences directly to her. |
https://finance.yahoo.com/news/trump-says-china-trade-talks-170333965.html | 2019-04-04 22:23:58+00:00 | null | null | Reuters | https://www.reuters.com/ | Trump says U.S-China trade deal could be announced in about four weeks | By Jeff Mason and David Lawder WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday a trade deal with China was getting very close and could be announced in about four weeks, but warned it would be difficult to let China keep trading with the United States if remaining issues were not resolved. Speaking to reporters at the White House at the start of a meeting with Chinese Vice Premier Liu He, Trump said some of the tougher points of a deal had been agreed but there were still differences to be bridged. "It's got a very, very good chance of happening. I think that will be great for both countries," Trump said, adding he would hold a summit with Chinese President Xi Jinping if there were a deal. "I would say we'll know over the next four weeks," Trump said. China and the United States are in the middle of intense negotiations to end a months-long trade war between the world's two largest economies that has rattled global markets. Trump declined to say what would happen to U.S. tariffs on $250 billion worth of goods as part of a deal. Asked about the benefits of an agreement for China, Trump said China "will continue to trade with the United States. Otherwise it would be very tough for us to allow that to happen," he added, without elaboration. Goods trade between the United States and China totalled $660 billion last year, according to U.S. Census Bureau data, consisting of imports of $540 billion from China and $120 billion in exports to China. In comments during his meeting with Trump, Liu cited "great progress" in the talks because of Trump's direct involvement, adding that despite remaining issues, "hopefully we'll get a good result." U.S. SEEKS SWEEPING CHANGES Trump has previously threatened to impose punitive tariffs on all imports from China, more than a half-trillion dollars worth of products. U.S. Trade Representative Robert Lighthizer said there were still some "major, major issues" to resolve and that Liu's commitment to reform in China was encouraging. Story continues Trump said the sticking points included tariffs and intellectual property theft. He said he would discuss tariffs with Liu in their meeting. Washington wants sweeping changes to China's economic and trade policies, while Beijing wants Trump to lift expensive sanctions on Chinese goods. After meetings in Beijing last week, Lighthizer and Treasury Secretary Steven Mnuchin are holding talks in Washington with Liu and a Chinese delegation this week. The current round of talks is scheduled to last through Friday and possibly longer. Hopes that the talks were moving in a positive direction have cheered financial markets in recent weeks. But U.S. stocks were mixed on Thursday as investors waited for more developments in the trade negotiations, with the Dow Jones industrial Average slightly higher, and the S&P 500 and Nasdaq Composite slightly lower. [.N] Trump has proven unpredictable in past White House meetings with Liu, openly challenging Lighthizer in late February over the use of the term "memorandum of understanding" in the talks. Liu, Lighthizer and Mnuchin declined to speak to reporters as the three entered USTR offices near the White House on Thursday morning. The United States is seeking reforms to Chinese practices that it says result in the theft of U.S. intellectual property and the forced transfer of technology from U.S. companies to Chinese firms. Administration officials initially envisioned a summit between Trump and Xi potentially taking place in March, but some U.S. lawmakers and lobbying groups have said recently they were told that the administration was now aiming for a deal in late April. DEADLINES SLIP White House economic adviser Larry Kudlow has declined to give a deadline for a deal, saying last week that the talks were "not time dependent" and could be extended for weeks or even months longer. While some reform pledges by Beijing are largely agreed upon, including an agreement to avoid currency manipulation, the two sides have not yet settled on an enforcement mechanism to ensure that China keeps its pledges. Another key unresolved issue is whether and when punitive U.S. tariffs on $250 billion worth of Chinese goods would be removed. As the talks reach their final stages, resolving those two issues will be critical in determining whether a deal can be reached, U.S. Chamber of Commerce international affairs chief Myron Brilliant told reporters on Tuesday. "China has been very clear, publicly and privately, that they would like to see all the tariffs removed," Brilliant said. "The (Trump) administration has been equally clear that they want to keep some of the tariffs in place as a way to have leverage over China fulfilling its obligations under whatever final package is reached." (Reporting by Jeff Mason and David Lawder; Editing by Susan Thomas and Peter Cooney) |
https://finance.yahoo.com/news/insiders-buying-fleetwood-corporation-limited-222403090.html | 2019-04-04 22:24:03+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Have Insiders Been Buying Fleetwood Corporation Limited (ASX:FWD) Shares? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So we'll take a look at whether insiders have been buying or selling shares inFleetwood Corporation Limited(ASX:FWD).
It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, rules govern insider transactions, and certain disclosures are required.
We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. But equally, we would consider it foolish to ignore insider transactions altogether. As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'
See our latest analysis for Fleetwood
MD, CEO & Director Bradley Denison made the biggest insider purchase in the last 12 months. That single transaction was for AU$259k worth of shares at a price of AU$1.80 each. That means that an insider was happy to buy shares at around the current price. Of course they may have changed their mind. But this suggests they are optimistic. Nonetheless, we consider it positive if insiders want to buy at around the current share price.
In the last twelve months insiders paid AU$324k for 179.95k shares purchased. In total, Fleetwood insiders bought more than they sold over the last year. They paid about AU$1.80 on average. These transactions show that insiders have confidence to invest their own money in the stock, albeit at slightly below the recent price of AU$1.94. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket.
Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Fleetwood insiders own 10% of the company, worth about AU$19m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
There haven't been any insider transactions in the last three months -- that doesn't mean much. On a brighter note, the transactions over the last year are encouraging. Overall we don't see anything to make us think Fleetwood insiders are doubting the company, and they do own shares. Of course,the future is what matters most. So if you are interested in Fleetwood, you should check out thisfreereport on analyst forecasts for the company.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, that have HIGH return on equity and low debt.
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/tiny-house-most-popular-airbnb-222415179.html | 2019-04-04 22:24:15+00:00 | null | null | Travel+Leisure | https://www.travelandleisure.com | This Tiny House Is the Most Popular Airbnb in Tennessee | If you think big, palatial hotel rooms are overrated, Tennessee has the Airbnb for you. According to USA Today , this tiny, 300-square-foot house in south Nashville is Tennessee’s most popular Airbnb, and it’s easy to see why. Don’t let the size fool you. This place may be cozy, but it’s an incredibly comfortable stay for a couple or small group (up to four) who want to explore Nashville . Located only 10 minutes from the downtown area, according to the Airbnb listing, the house includes a kitchenette, lofted queen bed, a full bathroom with a clawfoot tub, and lots of outdoor space so you can enjoy the deck, shared backyard, and garden complete with chickens. Courtesy of Airbnb The small space is rented out by Jonathan and Rebecca Moody, who live in a family home nextdoor. The Moodys designed the tiny home themselves, according to USA Today . Overall, the project took nine months to complete. “Our house is really small, and we started building this a year-and-a-half after our first son was born,” Rebecca Moody told USA Today . “We did not have a guest room anymore, so this was a way for us to expand, but in a way that made sense for us as a family.” Courtesy of Airbnb Tiny house hotels have been a trendy option for travelers who want to avoid unnecessary (and pricey) frills. Small hotels and Airbnbs not only offer comfortable accommodations but are often much more affordable than staying at a large chain. According to USA Today , people from all over the world flock to the Moodys’ Airbnb when they visit Nashville. And 300 square feet is nothing to sneeze at when it comes to the tiny hotel business. The tiniest hotel in the world, the Eh’häusl Hotel in Amberg, Germany , measures only 173 square feet. Courtesy of Airbnb To book: airbnb.com , from $80/night The cost to stay at the Moody’s Tennessee retreat can range between $80 to about $220 per night, depending on when you book. But considering the reviews the Moody’s have gotten, it seems well worth the money. |
https://finance.yahoo.com/news/u-china-trade-talks-continue-trump-not-expected-144727811--business.html | 2019-04-04 22:25:30+00:00 | [] | By Jeff Mason and David Lawder | Reuters | https://www.reuters.com/ | Trump says U.S-China trade deal could be announced in about four weeks | By Jeff Mason and David Lawder
WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday a trade deal with China was getting very close and could be announced in about four weeks, but warned it would be difficult to let China keep trading with the United States if remaining issues were not resolved.
Speaking to reporters at the White House at the start of a meeting with Chinese Vice Premier Liu He, Trump said some of the tougher points of a deal had been agreed but there were still differences to be bridged.
"It's got a very, very good chance of happening. I think that will be great for both countries," Trump said, adding he would hold a summit with Chinese President Xi Jinping if there were a deal.
"I would say we'll know over the next four weeks," Trump said.
China and the United States are in the middle of intense negotiations to end a months-long trade war between the world's two largest economies that has rattled global markets.
Trump declined to say what would happen to U.S. tariffs on $250 billion worth of goods as part of a deal.
Asked about the benefits of an agreement for China, Trump said China "will continue to trade with the United States. Otherwise it would be very tough for us to allow that to happen," he added, without elaboration.
Goods trade between the United States and China totalled $660 billion last year, according to U.S. Census Bureau data, consisting of imports of $540 billion from China and $120 billion in exports to China.
In comments during his meeting with Trump, Liu cited "great progress" in the talks because of Trump's direct involvement, adding that despite remaining issues, "hopefully we'll get a good result."
U.S. SEEKS SWEEPING CHANGES
Trump has previously threatened to impose punitive tariffs on all imports from China, more than a half-trillion dollars worth of products.
U.S. Trade Representative Robert Lighthizer said there were still some "major, major issues" to resolve and that Liu's commitment to reform in China was encouraging.
Trump said the sticking points included tariffs and intellectual property theft. He said he would discuss tariffs with Liu in their meeting.
Washington wants sweeping changes to China's economic and trade policies, while Beijing wants Trump to lift expensive sanctions on Chinese goods.
After meetings in Beijing last week, Lighthizer and Treasury Secretary Steven Mnuchin are holding talks in Washington with Liu and a Chinese delegation this week.
The current round of talks is scheduled to last through Friday and possibly longer.
Hopes that the talks were moving in a positive direction have cheered financial markets in recent weeks. But U.S. stocks were mixed on Thursday as investors waited for more developments in the trade negotiations, with the Dow Jones industrial Average slightly higher, and the S&P 500 and Nasdaq Composite slightly lower. [.N]
Trump has proven unpredictable in past White House meetings with Liu, openly challenging Lighthizer in late February over the use of the term "memorandum of understanding" in the talks.
Liu, Lighthizer and Mnuchin declined to speak to reporters as the three entered USTR offices near the White House on Thursday morning.
The United States is seeking reforms to Chinese practices that it says result in the theft of U.S. intellectual property and the forced transfer of technology from U.S. companies to Chinese firms.
Administration officials initially envisioned a summit between Trump and Xi potentially taking place in March, but some U.S. lawmakers and lobbying groups have said recently they were told that the administration was now aiming for a deal in late April.
DEADLINES SLIP
White House economic adviser Larry Kudlow has declined to give a deadline for a deal, saying last week that the talks were "not time dependent" and could be extended for weeks or even months longer.
While some reform pledges by Beijing are largely agreed upon, including an agreement to avoid currency manipulation, the two sides have not yet settled on an enforcement mechanism to ensure that China keeps its pledges. Another key unresolved issue is whether and when punitive U.S. tariffs on $250 billion worth of Chinese goods would be removed.
As the talks reach their final stages, resolving those two issues will be critical in determining whether a deal can be reached, U.S. Chamber of Commerce international affairs chief Myron Brilliant told reporters on Tuesday.
"China has been very clear, publicly and privately, that they would like to see all the tariffs removed," Brilliant said. "The (Trump) administration has been equally clear that they want to keep some of the tariffs in place as a way to have leverage over China fulfilling its obligations under whatever final package is reached."
(Reporting by Jeff Mason and David Lawder; Editing by Susan Thomas and Peter Cooney) |
https://finance.yahoo.com/news/elon-musk-square-off-sec-court-contempt-hearing-100142237--sector.html | 2019-04-04 22:26:47+00:00 | null | null | Reuters | https://www.reuters.com/ | Elon Musk safe for now as U.S. judge urges Tesla CEO, SEC to end tweet dispute | By Brendan Pierson and Jonathan Stempel NEW YORK (Reuters) - Elon Musk's job as Tesla Inc's chief executive appeared safe on Thursday as a federal judge in Manhattan urged the billionaire to settle contempt allegations by the U.S. Securities and Exchange Commission over his use of Twitter. At a hearing in Manhattan federal court, U.S. District Judge Alison Nathan gave both sides two weeks to work out their differences, and said she could rule on whether Musk violated his recent fraud settlement with the regulator if they failed. The hearing appeared to lift an overhang over Tesla, as the SEC stopped well short of recommending Musk's removal as chief executive or even from the electric car company's board. Instead, the regulator suggested that greater oversight of Musk's communications, including the threat of new fines if he backslides, was punishment enough, at least for now. "What this is to the SEC is strike two, and if there is another transgression they might seek a director and officer bar," said Peter Henning, a law professor at Wayne State University in Detroit and a former SEC lawyer. "They are just trying to send a message: be more careful." Nathan had been asked to hold Musk in contempt over a Feb. 19 tweet, where the SEC said he improperly posted material information about Tesla's vehicle production outlook without first seeking approval from its lawyers. The SEC said pre-approval was a core element of the October 2018 settlement, which resolved a lawsuit over a tweet last Aug. 7 where Musk said he had "funding secured" to take Tesla private at $420 per share. That settlement called for Musk to step down as Tesla's chairman, and levied $20 million civil fines each on Musk and the Palo Alto, California-based company. Musk declined to discuss the hearing as he left the courthouse, surrounded by a horde of reporters, photographers and television cameras, but said "I feel very loved here." Story continues In a statement provided later by Tesla, Musk said: "I have great respect for Judge Nathan, and Im pleased with her decision today. The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement." TESLA ALSO FAULTED Tesla's share price tumbled 8.2% on Thursday, after the company on Wednesday night reported lower-than-expected vehicle deliveries, but recouped some early losses once Musk's job no longer appeared imperiled. The company built its reputation on luxury cars, but has faced several production challenges with its Model 3 sedan, which it hopes will reach a mass audience. "Elon Musk was very well composed in the court today, which means he's taking it seriously," Craig Irwin, a Roth Capital Partners analyst who attended the hearing, said in an interview. He called Nathan's order "a good outcome for Tesla investors." Irwin rates Tesla "neutral." The battle concerned a tweet that Musk sent to his more than 24 million Twitter followers: "Tesla made 0 cars in 2011, but will make around 500k in 2019," meaning 500,000 vehicles. Four hours later, Musk corrected himself, saying annualised production would be "probably around" 500,000 by year end, with full-year deliveries totalling about 400,000. The SEC said the earlier tweet conflicted with Tesla's Jan. 30 outlook, when it targeted annualised Model 3 production exceeding 500,000 as soon as the fourth quarter, and projected 360,000 to 400,000 vehicle deliveries this year. Musk's lawyers countered that the earlier tweet contained nothing new, and that the SEC had conceded during settlement talks that Musk did not need pre-approval for all tweets about Tesla. RESPECT FOR JUSTICE SYSTEM At the hearing, SEC lawyer Cheryl Crumpton said a contempt finding could require Musk to file regular reports about how Tesla lawyers are overseeing his tweets. Noting that Musk had called his $20 million fine "worth it," Crumpton said the threat of higher potential fines might also be needed to show that further violations would be "not worth it." Musk is worth $20.7 billion, according to Forbes magazine. Crumpton also faulted what she called Tesla's "troubling" conduct. "Tesla still appears to be unwilling to exercise any meaningful control over the conduct of its CEO," she said. Tesla was not accused of contempt. Musk's lawyer, John Hueston, countered that the "ambiguity" of the settlement made "the hard penalty of contempt" unfair. The "funding secured" tweet had sent Tesla's share price up as much as 13.3 percent. Musk's privatisation plan was at best in an early stage, however, and financing was not in place. SEC Chairman Jay Clayton has said he does not favour draconian penalties that could harm investors, saying when Musk settled that "the skills and support of certain individuals may be important to the future success of a company." Musk remains an outspoken critic of the SEC. Since the case began, he has dubbed the regulator the "Shortseller Enrichment Commission," recalling his attacks on investors who sell Tesla stock short. And in the early morning of Feb. 26, after the SEC filed its contempt motion, Musk tweeted: "Something is broken with SEC oversight." As he prepared to enter the courthouse, Musk told reporters: "I have a great respect for the justice system." Asked whether he also respected the SEC, Musk laughed, before turning to go inside. (Reporting by Brendan Pierson and Jonathan Stempel in New York; Additional reporting by Alexandria Sage in San Francisco, Michelle Price and Jan Wolfe in Washington, and Sayanti Chakraborty in Bengaluru; Editing by Lisa Shumaker) |
https://finance.yahoo.com/news/trump-threatens-tariffs-mexican-cars-164905592.html | 2019-04-04 22:27:16+00:00 | null | null | Associated Press | https://apnews.com/ | Trump backs off border shutdown but threatens auto tariffs | WASHINGTON (AP) Abandoning his threat to immediately seal the southern border, President Donald Trump warned instead on Thursday that he'd slap tariffs on cars coming to the U.S. from Mexico unless the Mexicans do more to stop the flow of migrants and drugs to the U.S. In his latest backtrack in recent days, Trump told reporters he would try the "less drastic measure" before resorting to his standing border-closure threat. "Mexico understands that we're going to close the border or I'm going to tariff the cars. I'll do one or the other. And probably start off with the tariffs," Trump said. He added later: "I don't think we'll ever have to close the border because the penalty of tariffs on cars coming into the United States from Mexico, at 25 percent, will be massive." It was the latest, seemingly sudden attempt at new leverage by a president struggling to solve what his administration has called a border "crisis." And it was a dramatic departure for Trump, who last week tweeted that he would close the border or large swaths of it this week unless Mexico immediately halted "ALL illegal immigration coming into the United States" a seemingly impossible task. Trump said at the time that he was "not kidding around," and his acting chief of staff Mick Mulvaney said in a television interview Sunday that it would take "something dramatic" for Trump not to close down the crossings. Since then, however, White House advisers, border city leaders and U.S. economists have warned that such a move would have enormous economic consequences on both sides of the border, interrupting supply chains and boosting U.S. consumer prices on everything from avocadoes to autos. Trump in recent days has also backtracked on his push for Republicans to again take on health care and surprised his own education secretary by reversing a plan to ax federal aid for the Special Olympics. Story continues Those actions have only added to longstanding concerns about whether Trump's words can be trusted. Trump, who has long said his unpredictability is one of his greatest negotiating assets, has also followed through with some of his most bombastic threats, including forcing the country's longest-ever government shutdown over border funding. Trump had already appeared to be easing off his border threat earlier this week. Though he said Tuesday all options remained on the table, he shifted his goal posts, calling on Congress to pass immigration legislation to avert a closure and praising the Mexican government for doing more to apprehend migrants traveling through the country from Central America though it's unclear anything has changed. Marcelo Ebrard, Mexico's foreign relations secretary, said Tuesday his government had not changed its policies. And on Thursday, Mexico's ambassador to the U.S. Martha Barcena told The Associated Press the country was working to make its own border "more orderly" but "migration will never be stopped." Jesus Seade, the Mexican undersecretary for North America, also brushed off the threat of new tariffs, saying officials were "not concerned" and noting the tariffs are not part of the United States-Mexico-Canada Trade Agreement that the countries have agreed to but not yet ratified. On Thursday, Trump also threatened tariffs if Mexico doesn't halt the flow of illegal drugs across the border, saying he'd give the country "a one year warning" to comply. "But if in a year from now drugs continue to pour in we're going to put tariffs on," he said, adding: "I don't play games." As for concerns his actions might interfere with the trade deal he fought for, Trump said the border was "more important to me than the USMCA." Trump has wide-ranging power to impose tariffs on national security grounds, which he has repeatedly used as leverage against other countries. But the USMCA was worded to protect Mexico against auto tariffs based on national security concerns, and trade lawyer Daniel D. Ujczo said those provisions are already in effect under a side letter. "In short, this is the exact scenario that the Mexican negotiating team predicted and secured protections from in the USMCA," he said. "Mexico 'Trump-and-Tweet-proofed' its auto sector," and the White House "would need to get very creative to impose auto tariffs on Mexico." In addition, despite what Trump suggests, Mexico, China and other American trading partners don't pay U.S. tariffs directly. American importers pay the tariffs at the border and then must decide how much of the higher cost they can pass along to U.S. customers. Tariffs do squeeze the manufacturers who export to the U.S. from foreign countries by making their products more expensive in the United States. But there again, that can hit U.S. companies, such as General Motors, which is a major car-maker in Mexico. Trump has been increasingly exasperated at his inability to halt the swelling number of migrants entering the U.S., including thousands who have being released after arriving because border officials have no space for them. Arrests along the southern border have skyrocketed in recent months and border agents were on track to make 100,000 arrests or denials of entry in March, a 12-year high. More than half of those are families with children, who require extra care. The president's "pretty frustrated," said Republican Sen. John Cornyn of Texas, who spoke with Trump this week and offered to work with the administration "to try to come up with some more targeted ideas," including changes for remittances to Mexico. Trump suggested he work with the Treasury secretary on the idea, Cornyn said. Trump has invoked other executive powers, including declaring a national emergency in an effort to secure more money for his long-promised border wall. Congress voted to block the emergency declaration, but Trump vetoed that measure. House Speaker Nancy Pelosi said Thursday that Democrats would file a lawsuit aimed at preventing Trump from "stealing" billions from federal programs and diverting the money to building barriers along the border. Administration officials had been studying ways to minimize the economic impact of a potential border closure in case Trump went through with his threat, including keeping trucking lanes open or closing only certain ports. But even absent that extraordinary step, delays at border stations have been mounting after some 2,000 border officers were reassigned from checking vehicles to deal with migrant crowds. ___ Associated Press writers Paul Wiseman, Darlene Superville and Luis Alonso Lugo in Washington and Peter Orsi in Mexico City contributed to this report. |
https://finance.yahoo.com/news/piano-john-lennon-used-write-222900781.html | 2019-04-04 22:29:00+00:00 | null | null | Architectural Digest | http://www.architecturaldigest.com/ | The Piano John Lennon Used to Write Lucy in the Sky with Diamonds Is Up for Auction | An iconic piece of the Beatles legacy is about to go up for auction to the sweet tune of $575,000 to start. The piano that John Lennon used to write Beatles classics such as Lucy in the Sky with Diamonds and A Day in the Life will hit the Gotta Have Rock and Roll auction site on April 10, and is expected to fetch anywhere between $800,000 and $1.2 million. The upright piano is a John Broadwood and Sons design, with a unique gothic-style black-and-red exterior. It was originally built in 1872, and was believed to have been in Lennons possession from 1966 onward. (The auction site reports that it was his favorite piano, and that he played it frequently at his Kenwood estate in Weybridge, Surrey, in southeast England, which he sold in 1968 amid a divorce from his first wife, Cynthia.) The piano also boasts a plaque verifying Lennon s ownership, which reads, On this piano was written: A Day in the Life, Lucy in the Sky with Diamonds, Good Morning, Good Morning, Being for the Benefit of Mr. Kite, and many others. John Lennon 1971. The aforementioned songs were part of the Beatles iconic Sgt. Peppers Lonely Hearts Club Band album, released in 1967, for which the group has received resounding critical acclaim. Lennon was believed to have eventually given the piano to a friend, and it was later sold from a private collection at Sothebys London in September 1983. Another piano of Lennon's found a prominent home after his tragic death in December 1980: The Steinway upright on which he wrote his iconic solo song Imagine was auctioned off to late singer George Michael for $2.1 million in 2000. The British singer told CBS News at the time that its not the type of thing that should be in storage somewhere or being protected, it should be seen by people. Other Beatles memorabilia that has been auctioned off over the years includes a rare demo cut of Love Me Do, the bands first single, which sold for $12,000 last month. There were only 250 such demos printed by Parlophone Records in 1962. |
https://finance.yahoo.com/news/amazon-amzn-makes-strides-grocery-222903839.html | 2019-04-04 22:29:03+00:00 | [] | [email protected] (Ben Mahaney) | SmarterAnalyst | https://www.smarteranalyst.com/ | Amazon (AMZN) Makes Strides in the Grocery Game; Stock Remains a Strong Buy | Amazon (AMZN) is set to leverage its global e-commerce footprint tied to its grocery chain acquisition of Wholefoods Market in the coming days.
What has changed is the usage of prime subscriptions tied to the e-commerce business to give customers of Wholefoods a discount at checkout. On first impression the entry into the grocery segment has been a bit of a rocky one, but it did lead to some revenue and earnings accretion in the past year.
Now, we see Amazon unfolding the rest of its strategy tied to the Wholefoods acquisition with what could be a major shift in grocery market share in the coming years. Prime subscribers can anticipate a 20% price reduction on various food items from WFM, and with that reduction we’ll see a divergence in pricing trends unlike what we’ve witnessed in the past couple years.
Source: Morgan Stanley
The average basket of goods pricing has remained relatively stable, according to Morgan Stanley, but with the introduction of Prime Discount for 300 items, according to various media reports, we can anticipate that the basket price will trend considerably lower to perhaps $170-$180 based on recent data. The drop in pricing would make Amazon hyper competitive with competing grocers like Kroger (KR) and Wal-Mart (WMT), who continue to bleed market share in virtually every category, anyway.
Keep in mind, Amazon has around 100 million Prime subscriber currently, and the introduction of this added perk could increase demand for Prime subscriptions. Prime Subscription are starting to become a catch-all feature tied to the Amazon ecosystem, and like a Costco Card, Amazon customers can expect the same sort of treatment when they buy groceries at its own in-house grocery chain. What this all leads to is premium food coming down in price, and with more consumers preferring organic foods, or foods that are sourced responsibly, the appeal this might have is somewhat unprecedented, but it does come at a great time for Amazon looking for ways to gain market share against its number 1. rival Wal-Mart.
Wal-Mart also isn’t known to source the same high-quality foods as Whole Foods Market, and with the prospective risk that Whole Foods is now pivoting to a Costco like business model with the world’s number 1. E-commerce Retailer to back-it-up, or fuel the expansion efforts, we should see more activity at Whole Foods Market stores in the coming weeks, if not the coming months. If anything, Amazon is starting to suck the oxygen out of the grocers, and within the next few-years business results at the competing grocery chains could start to tumble (similar to what we’ve seen in a number of other retail categories where Amazon extinguished competition with lower pricing at mass scale).
Amazon stock was relatively unresponsive to the announcement, but the added foot traffic tied to a brick-and-mortar experience, and also tied to its online e-commerce platform does create some much-needed synergies. Furthermore, Amazon is the type of company that would burn some cash just to take a stab at its rival, Wal-Mart in the brick-and-mortar segment.
Following the news, Wal-Mart shares promptly declined by 1% on the session, because it implies that more consumers (roughly a third of all U.S. consumers) will now get flooded with Amazon Prime related deals tied to Whole Foods Market, and with this transition, Amazon’s promotional efforts will sway the buying habits of consumers looking to save money, but still buy high quality produce.
The pivot towards groceries was meant to be a highly-technological leap, but instead it turned into another catch-all feature tied to Amazon’s membership subscription business. Maybe, Amazon doesn’t reinvent the brick-and-mortar experience, but then again, do they really have to? They have 100 million subscriptions that help subsidize the cost of groceries.
All in all, Alphabet is a Wall Street favorite, earning one of the best analyst consensus ratings in the market. TipRanks analytics exhibit AMZN as a Strong Buy. Out of 36 analysts polled by in the last 3 months, 35 are bullish on Amazon stock while only one remains sidelined. With a return potential of 17%, the stock’s consensus target price stands at $2,125.16. (See AMZN's price targets and analyst ratings on TipRanks)
Disclosure:The author doesn’t own a position in AMZN or WMT.
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https://finance.yahoo.com/news/nyc-mayor-bill-blasios-spat-023112507.html | 2019-04-04 22:31:12+00:00 | null | null | HuffPost | https://www.huffpost.com | NYC Mayor Bill de Blasio's Spat With BuzzFeed Execs Over Union Snub Heats Up | The unlikely feud between New York City Mayor Bill de Blasio and BuzzFeed executives is heating up. The mayor and the online news sites fray stems from the failure of BuzzFeeds executives to show up at a meeting Wednesday on recognizing their employees union. BuzzFeed News union tweeted that the executives had dropped out of the meeting shortly before it was set to begin. Five minutes after the meeting was scheduled to start, they told us they werent going to show up, the group tweeted. We came to the table today ready to meet with BuzzFeed execs about finally recognizing our union. Five minutes after the meeting was scheduled to start, they told us they werent going to show up. pic.twitter.com/Pa9aBsOeaM BuzzFeed News Union (@bfnewsunion) April 3, 2019 De Blasio on Thursday reminded BuzzFeeds executives that New York City was a union town. The news site has offices in both New York City and Los Angeles. You didnt just snub [BuzzFeed News union] yesterday, you insulted all working New Yorkers, the mayor tweeted at the news site Memo to @BuzzFeedNews : New York City is a union town. You didn't just snub @bfnewsunion yesterday, you insulted all working New Yorkers. To the union: This city stands with you. To the management: Come. To. The. Table. Mayor Bill de Blasio (@NYCMayor) April 4, 2019 BuzzFeeds management responded to de Blasios jab later Thursday, calling him a deeply unpopular mayor and questioning whether his concern was genuine. This process is not going to benefit from the involvement of a deeply unpopular mayor who has expressed an open disdain for journalists during his time in office, the company said in a statement to the Daily Beast . Story continues De Blasio tweeted back a quip Thursday evening, dogging the company for responding to his tweets before reaching a deal with BuzzFeeds union. Wow. [BuzzFeed] execs respond a lot faster to a public call-out than they do demands for fairness from their own workers, he wrote. Wow. @BuzzFeedNews execs respond a lot faster to a public call-out than they do to demands for fairness from their own workers. Mayor Bill de Blasio (@NYCMayor) April 4, 2019 BuzzFeeds U.S. employees announced their intention to unionize the newsroom in February, shortly after the company cut 15% of its workforce, or an estimated 250 jobs, amid a massive wave of layoffs in the media industry earlier this year. BuzzFeed News staffers organized their union under the NewsGuild of New York. After BuzzFeeds management team failed to show up at the meeting Wednesday, the union published a statement saying that the company was choosing a path of avoidance and delays. Weve repeatedly asked [BuzzFeed founder and CEO] Jonah Peretti and [editor-in-chief] Ben Smith to join us in these negotiations and take an interest in what their employees are fighting for, the union said. Thus far, they have declined to attend any negotiating meetings. Love HuffPost? Become a founding member of HuffPost Plus today. Weve repeatedly asked @peretti and @BuzzFeedBen to join us in these negotiations and take an interest in what their employees are fighting for. Theyve declined our invitations. But we must be clear: They have the power to recognize our union now. BuzzFeed News Union (@bfnewsunion) April 3, 2019 In a tweet on Thursday night, Smith maintained that BuzzFeeds management was still interested in negotiating with the union members. Negotiations are often complicated, but BuzzFeed News remains committed to them and continues to look forward to voluntarily recognizing the union, he said. Negotiations are often complicated, but BuzzFeed News remains committed to them, and continues to look forward to voluntarily recognizing the union. Ben Smith (@BuzzFeedBen) April 5, 2019 In 2015, when BuzzFeed staffers were mulling the idea of unionizing, Peretti told the staff that he didnt think a union would be great for the company . I think that actually wouldnt be very good for employees at BuzzFeed particularly people who are writers and reporters, Peretti told staffers during a company meeting at the time. The [compensation] for writers and reporters are much less favorable than [compensation] for startup companies and tech companies. As de Blasio and BuzzFeeds management sparred online, New York Citys Department of Consumer and Worker Protection tweeted Thursday in support of the news sites efforts to unionize. In NYC, we stand up for workers. And we wont back down, the department said in a tweet. In NYC, we stand up for workers. And we wont back down. https://t.co/ucBOE6FnQb #ProtectWorkers https://t.co/6u9n6y4ZFR NYC Consumer and Worker Protection (@NYCDCA) April 4, 2019 Related Coverage BuzzFeed News Staff Plans To Unionize Following Sweeping Layoffs This article originally appeared on HuffPost . |
https://finance.yahoo.com/news/sean-murphy-game-creek-capital-205248309.html | 2019-04-04 22:32:48+00:00 | [] | Nina Zdinjak | Insider Monkey | http://www.insidermonkey.com | Sean Murphy’s Game Creek Capital’s Return, AUM, and Holdings | In 2008, Scott Mayo, son of an experienced investor Richard Mayo (who co-founded Boston-based money managerGMO) launched his own hedge fund calledGame Creek Capital. The fund got the seed money from Richard Mayo, and it was run by Scott until his unfortunate death in 2010. Then, it was taken over by Sean Murphy, who was previously recruited from Vardon Capital Management by Scott Mayo. At Vardon Capital Management, Sean Murphy was a senior analyst having its main focus on telecom, media and consumer sectors. Before he got employed at Vardon Capital Management, he was a media analyst at Credit Suisse Boston. Presently, Sean Murphy is the President and Chief Investment Officer of Game Creek Capital, and a Chartered Financial Analyst. Once, when asked about his investment philosophy, he answered very simply: “If you’ve got a great idea, make it a real position”.He earned his B.A. cum laude from the University of Notre Dame.
Game Creek Capital employs an absolute return, long/short strategy mainly investing in the business from media, consumer, and telecom sectors. It uses bottom-up research to recognize companies that are currently undervalued. It invests in both mid and large cap stocks. According to its website -capital preservation istheirmantra. When analyzing a potential stock for its portfolio, Game Creek Capital reaches both current and former employees, customers, suppliers, competitors, and of course, the management team. It collects all data possible, trying to get the detailed picture of each company, in order to make a proper evaluation of it. At the end of June 2017, Game Creek Capital held $354.00 million in regulatory assets under management. Let’s take a look at what Game Creek Capital’s investment strategy brought back in the last couple of years.
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Copyright:jetcityimage / 123RF Stock Photo[/caption]
From January 2008 through May 2011, one of the fund’s long-short strategies delivered a compounded annualized return of 17.8% (or a cumulative return of 75.2%). Its Game Creek Fund, L.P. gained a great 19.70% in 2013, which was followed by a loss of 4.58% in 2014. Then, the next year, Game Creek Fund, L.P. came back on its feet posting positive returns of 3.23%. In 2016 it delivered 0.73%, and in 2017 it brought back 2.81%. Last year through October, the fund managed to stay positive generating a return of 3.62%. Game Creek Fund, L.P. had a total return of 191.77%, for a compound annual return of 11.2%. Its worst drawdown stood at 11.55.
On December 31st, 2018, Game Creek Capital’s portfolio was valued at $212.97 million, representing a 21.85% decrease from one quarter earlier, when the fund’s portfolio carried a value of $272.52 million. During the quarter, the fund said goodbye to 15 stocks from its portfolio and added 7 new positions. The largest position was in a Philadelphia-headquartered telecommunications conglomerate with a market cap of $177.28 billion,Comcast Corporation (NASDAQ:CMCSA). The company’s three main businesses are Comcast Cable, Sky, and NBCUniversal. Game Creek Capital held 294,350 Comcast’s shares, which were valued $10.02 million. Aside from being one of the US biggest high-speed internet, video, and phone providers, Comcast is also one of the30 Most Popular Stocks Among Hedge Funds. It is trading at a price-to-earnings ratio of 15.50, and year-to-date, the company’s stock gained 13.96%, having its closing price on March 11thof $39.17. In its last financial report for the fourth quarter of 2018, Comcast disclosed consolidated revenue of $27.84 billion or $0.55 per share, compared to revenue of $22.08 million or $3.17 per share in the corresponding period of 2017. At the end of January 2019, TD Securities raised its price target on the stock to $48.00 from $47.00 with a ‘Buy’ rating, and Credit Suisse Group restated its ‘Buy’ rating on the stock while keeping its price target of $44.00.
Insider Monkey’s mission is to identify promising (and also terrible) hedge fund stock pitches and share them with our subscribers. We launched a long activist investing strategy in our monthly newsletter 2 years ago. This strategy’s stock picks returned 61% in 2 short years, vs. a gain of 21% for the S&P 500 Index ETF (SPY). Last October we shared one of our stock picks, Ascendis Pharmaceuticals (ASND), in afree sample issueof our monthly newsletter (you can still download it free of charge). The stock doubled in less than 5 months.
We have also been very successful at identifying stocks that will decline even in a bull market. We launched our short strategy a little more than 2 years ago and share our short stock picks in our quarterly newsletter. This strategy’s picks lost 27.5% since then, vs. a gain of 25% for the S&P 500 Index. This means our short strategy actually outperformed the market by 52.5 percentage points (let us know if you don’t understand how the outperformance for a short strategy is calculated).
Three weeks ago our monthly newsletter identified another undervalued stock that is expected to increase its earnings by more than 10% annually and trades at only 10 times its 2019 earnings. We expect this stock to return 60% in the next 12-24 months (it already returned 9% in 3 weeks). Email us if you are interested in this stock orsubscribe here. We take a closer look at hedge funds like Game Creek Capital in order to identify their best and worst ideas.
If you are interested to read more about Game Creek Capital’s similar 4thquarter long positions and investment moves, head on to the next page.
Game Creek Capital held the second largest position in its portfolio inHess Corp. (NYSE:HES), a global independent energy company that participates in both the production and exploration of natural gas and crude oil. This Big Apple-based company is one of the Fortune 500 corporations and has a market cap of $17.22 billion. At the end of the fourth quarter of 2018, the fund held 231,600 Hess’ shares, which carried a value of $9.38 million, accounting for 4.4% of the fund’s equity portfolio. Over the past 12 months, the company’s stock gained 14.96%, and on March 11th, it was trading at $55.93. At the end of January 2019, Morgan Stanley set the price target on Hess’ stock of $63.00, with a ‘Buy’ rating, while at the same time, Stephens downgraded its rating to “Equal Weight’ from ‘Overweight’, with a price target of $69.
The third biggest stake the fund held inAlphabet Inc Class A (NASDAQ:GOOGL), and this was $8.83 million worth a position, on the account of 8,450 shares outstanding. Alphabet has a market cap of $817.07 billion, and it is trading at a price-to-earnings ratio of 26.98. Its stock gained 0.65% over the past six months, and on March 11thit was trading at $1,179.26.
Among the 7 new positions Game Creek Capital initiated during the last quarter of 2018, the most valuable one was in an NYC-based video game holding companyTake Two Interactive Software, Inc Common Stock (NASDAQ:TTWO). The fund purchased 42,300 Take Two’s shares, establishing in that manner a position in the company that was valued $4.35 million. Take Two is the owner of two large publishing brands – 2K (consisting of 2K Games and 2K Sports) and Rockstar Games. Over the last 12 months, Take Two’s stock lost 22.41%, and on March 11th, it had a closing price of $89.80. The company is trading at a price-to-earnings ratio of 28.23, and it has a market cap of $10.16 billion. For the three months ended December 31, 2018, Take Two reported GAAP net revenue of $1.249 billion, compared to $480,840 million in the same period of 2017. It also disclosed dilute earnings per share of $1.57, versus $0.21 in the corresponding quarter of 2017. On February 12th, 2019, BMO Capital Markets downgraded its rating on the stock to ‘Underperform’ from ‘Market Perform’ with a price target of $93.44, while MKM Partners lowered its price target to $115.00 with a ‘Buy’ rating on it.
Another large new stake the fund made during the last three months of 2018 was inAltice USA Inc (NYSE:ATUS), and it was worth around $4.21 million, on the basis of 255,000 Altice USA shares outstanding. Altice USA is a company that offers various system operator services and cable television. It is based in NYC while providing its professional services across 21 states. The company has a market cap of $15.21 billion, and it is trading at a price-to-earnings ratio of 615.30. Altice’s shares gained 27.33% since the beginning of the year, and on March 11ththey had a closing price of $21.80 per share.
Out of 15 stocks the fund decided to drop in the last quarter of 2018 it held the largest stakes inTE Connectivity Ltd (NYSE:TEL),Facebook, Inc. Common Stock (NASDAQ:FB),andLennar Corporation Class B (NYSE:LEN.B).In that manner, Game Creek Capital dumped its $4.1 million worth a position in TE Connectivity (based on 46,400 shares), sold out 14,000 Facebook’s shares, which were valued $2.3 million, and said goodbye to a $1.53 million worth a position in Lennar Corporation (on the account of 39,669 shares outstanding).
Disclosure:None
This article was originally published atInsider Monkey. |
https://finance.yahoo.com/news/reports-trump-considering-picking-herman-184900848.html | 2019-04-04 22:37:30+00:00 | null | null | Associated Press | https://apnews.com/ | Trump choice of Herman Cain for Fed board could face hurdles | WASHINGTON (AP) — President Donald Trump said Thursday that he intends to nominate Herman Cain, a conservative political ally and former presidential candidate, for a seat on the Federal Reserve board. "I've told my folks that's the man," Trump told reporters in the Oval Office, adding that Cain is undergoing background checks before a nomination. "He's a very terrific man, a terrific person," Trump said. "He's a friend of mine." The choice of Cain would mark the second nomination to elevate a Trump ally with deep roots in conservative politics to the Fed's main policy-making body, a panel that the president has sharply criticized in recent months as insufficiently committed to low interest rates. The president two weeks ago said he planned to nominate Stephen Moore for a separate vacancy on the board. Moore's nomination has ignited criticism that he is unqualified and too politically minded to serve on the board of the world's most influential central bank. By design, the Fed is supposed to remain free of political taint in order to maintain the trust of financial markets and global policymakers. Cain, a former CEO of Godfather's Pizza, ran for the 2012 Republican presidential nomination but dropped out after allegations of sexual harassment and infidelity. The selections of Cain and Moore would require Senate confirmation, and their potential nominations could face hurdles in the Senate. Sen. John Thune, the Republican whip, said lawmakers would want to question both men. "They all have to go through the process and see whether or not they're a good fit — both in terms of qualifications and just the experience and everything else," Thune said. "You want somebody on the Fed to be somebody who's very knowledgeable on economic issues." The seven-member Fed board, along with presidents of the Fed's regional banks, plays a critical role in the U.S. economy, holding meetings to debate and vote on interest rates that affect everything from currency values to mortgage rates to savings accounts to the health of the economy. Story continues After Trump announced his intention to nominate Moore to the Fed board, published reports indicated that Moore had had a lien of more than $75,000 filed against him in January 2018 for unpaid taxes and that he has fallen behind on alimony and child support payments to his ex-wife. Still, Larry Kudlow, Trump's top economic adviser, told reporters Wednesday that the president remains "fully behind" Moore's nomination. Moore served as a campaign adviser to Trump in 2016 and helped formulate the president's signature tax cut plan. Like Trump, Moore has been sharply critical of the Fed, asserting in December that Chairman Jerome Powell should be fired for supporting a fourth Fed interest rate hike that month. Moore now says that comment was written "in a time of anger." Cain met with Trump in January to discuss a possible nomination to the Fed board. But at the time, the White House said Trump was considering multiple candidates for the two vacancies on the Fed board. Cain, who formerly served on the board of the Fed's Kansas City regional bank, has also criticized the central bank's policies. In a 2012 Wall Street Journal column, Cain argued that the Fed's policies had manipulated the value of the dollar. In the article, he advocated a return to the gold standard as a way to control inflation — a position taken by some other Fed critics but which most economists call unworkable. In September, Cain co-founded a pro-Trump super political action committee, America Fighting Back PAC. It features a photo of the president on its website and says, "We must protect Donald Trump and his agenda from impeachment." Cain dropped out of the race for the 2012 Republican presidential nomination after allegations that he had engaged in sexual harassment when he led the National Restaurant Association in the 1990s. An Atlanta woman also said she had conducted an extramarital affair with Cain for more than 13 years. Cain called the allegations false but said he had "made mistakes in my life." Before leaving the race, Cain had put forward a "9-9-9" tax plan that called for replacing the current tax system with a flat 9 percent business and individual income tax, and a 9 percent sales tax. Trump told reporters Thursday that he believed that after the background checks Cain would "be in great shape." "I find Herman to be an outstanding person," he added. Asked if he had any concerns, Trump said: "None whatsoever. He's a highly respected man. He's a friend of mine." Trump has repeatedly denounced the Fed leadership of Powell, whom he selected as chairman after deciding not to re-nominate Janet Yellen. In addition to choosing Powell for the chairmanship, Trump has nominated all the current Fed board members with the exception of Lael Brainard, who was nominated by Barack Obama. Trump's other nominees have held views more in line with traditional selections for the Fed board. The White House announced Thursday that Trump was nominating Michelle Bowman, a Kansas banking regulator, for a full 14-year term on the Fed. She joined the Fed last year, taking over a term that will end next year. But Trump has grown increasingly unhappy with the Fed decisions under Powell, especially after the stock market tumbled last year as the central bank was hiking rates four times. Since January, the Fed has reversed course and now says it foresees no further rates hikes this year. Even with that change, Trump has kept up his attacks on the Fed. Kudlow last week called for the Fed not only to pause rate hikes but to cut rates by a steep one-half percentage point and said the president believed that was the best course of action. In a tweet Thursday, Trump said the economy was looking very strong "despite the unnecessary and destructive actions taken by the Fed." ___ AP White House reporter Darlene Superville and Chief Congressional Correspondent Lisa Mascaro contributed to this report. |
https://finance.yahoo.com/news/jcurve-solutions-limiteds-asx-jcs-223735481.html | 2019-04-04 22:37:35+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Is JCurve Solutions Limited's (ASX:JCS) High P/E Ratio A Problem For Investors? | Want to participate in aresearch 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 look at JCurve Solutions Limited's (ASX:JCS) P/E ratio and reflect on what it tells us about the company's share price. Based on the last twelve months,JCurve Solutions's P/E ratio is 37.53. That is equivalent to an earnings yield of about 2.7%.
See our latest analysis for JCurve Solutions
Theformula for price to earningsis:
Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Or for JCurve Solutions:
P/E of 37.53 = A$0.028 ÷ A$0.00075 (Based on the trailing twelve months to December 2018.)
A higher P/E ratio means that investors are payinga higher pricefor each A$1 of company earnings. That isn't necessarily good or bad, but a high P/E implies relatively high expectations of what a company can achieve in the future.
Earnings growth rates have a big influence on P/E ratios. Earnings growth means that in the future the 'E' will be higher. That means unless the share price increases, the P/E will reduce in a few years. Then, a lower P/E should attract more buyers, pushing the share price up.
JCurve Solutions shrunk earnings per share by 74% over the last year. But over the longer term (5 years) earnings per share have increased by 63%.
The P/E ratio indicates whether the market has higher or lower expectations of a company. The image below shows that JCurve Solutions has a P/E ratio that is roughly in line with the software industry average (35.7).
That indicates that the market expects JCurve Solutions will perform roughly in line with other companies in its industry. If the company has better than average prospects, then the market might be underestimating it. I inform my view byby checking management tenure and remuneration, among other things.
The 'Price' in P/E reflects the market capitalization of the company. That means it doesn't take debt or cash into account. Theoretically, a business can improve its earnings (and produce a lower P/E in the future), by taking on debt (or spending its remaining cash).
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.
JCurve Solutions has net cash of AU$3.4m. That should lead to a higher P/E than if it did have debt, because its strong balance sheets gives it more options.
JCurve Solutions's P/E is 37.5 which is above average (16.2) in the AU market. Falling earnings per share is probably keeping traditional 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!
When the market is wrong about a stock, it gives savvy investors an opportunity. People often underestimate remarkable growth -- so investors can make money when fast growth is not fully appreciated. We don't have analyst forecasts, but you might want to assessthis data-rich visualizationof earnings, revenue and cash flow.
Of course,you might find a fantastic investment by looking at a few good candidates.So take a peek at thisfreelist of companies with modest (or no) debt, trading on a P/E below 20.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
https://finance.yahoo.com/news/nissans-ghosn-arrested-again-financial-misconduct-case-062055931--finance.html | 2019-04-04 22:41:52+00:00 | null | null | Associated Press | https://apnews.com/ | Nissan's former chief arrested again, calls move 'arbitrary' | TOKYO (AP) — Tokyo prosecutors arrested Nissan's former chairman Carlos Ghosn on Thursday for a fourth time on fresh allegations that cut short his brief time outside detention. Ghosn was taken from his apartment in Tokyo early in the morning to the prosecutors' office and then sent to the Tokyo Detention Center, the same facility where he spent more than three months following his arrest in November. He had been released on bail just a month earlier. It's unclear how long Ghosn may be detained under the latest arrest. "My arrest this morning is outrageous and arbitrary," Ghosn said in a statement issued Thursday. "It is part of another attempt by some individuals at Nissan to silence me by misleading the prosecutors. Why arrest me except to try to break me? I will not be broken. I am innocent of the groundless charges and accusations against me." Prosecutors defended the move, saying the latest allegations are a new case requiring precautions to prevent Ghosn from destroying evidence. They allege $5 million in funds sent by a Nissan subsidiary to an overseas dealership were diverted to a company controlled by Ghosn. "We now have a totally different case, and we are only doing what we think is right," Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutor's Office, told reporters. "As a result of our investigation, we have a new case in which he must be detained, and we have appropriately obtained an arrest warrant from the court," he said. Ghosn, 65, was first arrested on Nov. 19 on charges of under-reporting his compensation. He was rearrested twice in December. The multiple arrests prolong detentions without trial and are an oft-criticized prosecution tactic in Japan's criminal justice system. The allegations in the most recent arrest cover three money transfers from 2015 through last year, according to the prosecutors. Kukimoto said the new allegation of breach of trust is different from an earlier charge made in January. The companies where the money was transferred to, the motives, and the alleged scheme are all different, he said. He refused to identify the three companies allegedly involved but said one company was in effect owned by Ghosn. Story continues Unlike an earlier case, in which Ghosn caused damage to Nissan to benefit himself and a business partner, this time it was merely "for his own personal benefit," Kukimoto said. French prosecutors also are investigating Ghosn's financial activities at Nissan's French alliance partner Renault SA, where he was chairman and CEO until his arrest. Ghosn is one of France's most famous executives, and each development in his legal saga is closely watched by the French government, a key Renault shareholder. A statement from the Japanese prosecutors' did not mention Oman, but the new allegation appears related to an investigation by Renault into payments to a major dealership in the Middle Eastern country, some of which are suspected of having been channeled for Ghosn's personal use. Renault said Wednesday that it had turned over information about those payments to French prosecutors. Ghosn predicted a new arrest in a French television interview conducted hours before the prosecutors appeared at his apartment. He told broadcaster TF1 that he had never been "above the law," but acknowledged that he "pushed things to the limit" to improve Nissan and Renault. The interview was filmed Wednesday but aired Thursday. Prosecutors also seized the passport of his wife Carole along with her computer and cellphone, including sensitive exchanges with attorneys, the family's French lawyer told The Associated Press in Paris. Japanese prosecutors would not comment when asked why the wife was targeted. Ghosn was an auto industry star, having transformed Nissan over two decades from near bankruptcy into one of the largest automaking alliances in the world. Nissan, a co-defendant on the charges of under-reporting compensation, declined comment on the criminal proceedings. However, company spokesman Nicholas Maxfield said in a statement that "Nissan's internal investigation has uncovered substantial evidence of blatantly unethical conduct." The maker of the March subcompact, Leaf electric car and Infiniti luxury models will hold a shareholders' meeting next week to oust Ghosn from its board. The maximum penalty upon conviction on charges of under-reporting compensation and breach of trust is 15 years in prison. It is unclear when Ghosn's trial may begin. Preparations for trials in Japan routinely take months. ___ Angela Charlton in Paris contributed to this report. ___ Yuri Kageyama is on Twitter at https://twitter.com/yurikageyama On Instagram at https://www.instagram.com/yurikageyama/?hl=en |
https://finance.yahoo.com/news/lyft-apos-ipo-failure-greatly-224200628.html | 2019-04-04 22:42:00+00:00 | [] | Dan Caplinger, The Motley Fool | Motley Fool | http://www.fool.com/ | Lyft's IPO Failure Has Been Greatly Exaggerated | It's been about a week sinceLyft's(NASDAQ: LYFT)stock went public, but already, many investors have rushed to judgment about the ridesharing company's prospects for future success. The share price spent so much of this week below its $72 per-share offering price that Lyft quickly gained a label as abusted IPO.A rush of negativity about the launch sought to highlight the risks and less attractive attributes of the company.
Yet amid all the hype, Lyft has actually done an admirable job of going public in a way that almost perfectly balances the interests of investors and the company itself. In an era in which many investors expect to see huge first-day jumps for IPOs, Lyft might not have delivered the success that some of its early shareholders would have preferred. But it will take far longer than a week for a fair assessment of whether the fledgling business can grow to its full potential.
Image source: Lyft.
It's important for investors to remember that the underlying purpose of an initial public offering isn't just to create a market for shares. IPOs are also intended to help companies raise cash for additional investment. The more cash a company can get for its initial shares, the more it can invest in growing its business without having to return to the capital markets later for additional funds through follow-up offerings that dilute the company's value.
With that in mind, it's pretty clear that the modern measure of IPO success -- thesize of the first-day jump-- is fundamentally flawed. If a newly public stock doubles in price on its first day from its IPO price, then it's a huge win for those who participated in the offering. But it's also a big loss for the company because it essentially offered shares at half of what the market thought their true value should be.
Consider what happened right before Lyft went public. Leading up to the IPO, the ridesharing service had anticipated pricing its stock at between $62 and $68 per share. If it had gone with the $68 price, then Lyft's first-day jump would've been 15% rather than 9%. And although the stock has flirted with lower prices, it didn't close below that $68 level in its first five days of trading. It closed Thursday at $72.
Yet because Lyft dared to price its offering $4 per share higher -- reaping about $130 million in extra cash for the company -- potential new investors seem to have a completely different opinion of how the IPO went. Critics are blaming Lyft's losses for holding back excitement about the future of the company's business and they seem to be looking for reasons to be downbeat about Lyft's strategic vision.
The more important reason why all the first-week hype about Lyft is meaningless is that investing has nothing to do with how a company does in seven days and everything to do with how it does over seven years -- or longer.
To be fair, there are plenty of good reasons to beskeptical about Lyft's long-term prospects. Losses have been extensive and are getting worse, with 2018's $911 million in red ink marking a 32% jump from 2017's loss levels. Lyft has a clear duopolistic competitor in Uber, and a host of other upstart ridesharing providers are also competing for riders.
Even automakers are getting into the game, looking potentially to offer services of their own and potentially bypassing the intermediary opportunity that Lyft and others are seeking to exploit. Some investors also weren't happy with the voting control that co-founders Logan Green and John Zimmer retained through their retention of stock in a special share class with superior voting rights.
Yet Lyft could look a lot different in seven years. Active ridership, the number of rides, and overall revenue have been growing sharply over the past few years, and revenue per active rider has been increasing, as well.Lyft seems to be gaining a core audience of loyal riders, and controversy about Uber has pushed some customers to consider Lyft as an alternative.
There has been a lot of discussion about the treatment of drivers for ridesharing companies, but those problems could disappear entirely if the autonomous driving technology that Lyft is working on eventually makes having a person at the wheel unnecessary. The fact that car giantGeneral Motorshas a stake in Lyft also reduces the chances that automakers will seek to do an end-run around ridesharing and instead will make partnerships with the leaders of the industry.
Lyft's ups and downs over its first week of trading make for good headlines, but in the context of investing in the company, they're irrelevant. It'll take years to judge Lyft's true success, and it might come in a form that no one can even foresee right now.
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Dan Caplingerhas 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/major-study-debunks-myth-moderate-drinking-healthy-224219395.html | 2019-04-04 22:42:19+00:00 | null | null | Reuters | https://www.reuters.com/ | Major study debunks myth that moderate drinking can be healthy | By Kate Kelland LONDON (Reuters) - Blood pressure and stroke risk rise steadily the more alcohol people drink, and previous claims that one or two drinks a day might protect against stroke are not true, according to the results of a major genetic study. The research, which used data from a 160,000-strong cohort of Chinese adults, many of whom are unable to drink alcohol due to genetic intolerance, found that people who drink moderately - consuming 10 to 20 grams of alcohol a day - raise their risk of stroke by 10 to 15 percent. For heavy drinkers, consuming four or more drinks a day, blood pressure rises significantly and the risk of stroke increases by around 35 percent, the study found. "The key message here is that, at least for stroke, there is no protective effect of moderate drinking," said Zhengming Chen, a professor at Oxford University's Nuffield Department of Population Health who co-led the research. "The genetic evidence shows the protective effect is not real." The World Health Organization (WHO) estimates that around 2.3 billion people worldwide drink alcohol, with average per person daily consumption at 33 grams of pure alcohol a day. That is roughly equivalent to two 150 ml glasses of wine, a large (750 ml) bottle of beer or two 40 ml shots of spirits. This latest study, published in The Lancet medical journal, focused on people of East Asian descent, many of whom have genetic variants that limit alcohol tolerance. Because the variants have specific and large effects on alcohol, but do not effect other lifestyle factors such as diet, smoking, economic status or education, they can be used by scientists to nail down causal effects of alcohol intake. "Using genetics is a novel way ... to sort out whether moderate drinking really is protective, or whether it's slightly harmful," said Iona Millwood, an epidemiologist at Oxford who co-led the study. "Our genetic analyses have helped us understand the cause-and-effect relationships." The research team - including scientists from Oxford and Peking universities and the Chinese Academy of Medical Sciences, said it would be impossible to do a study of this kind in Western populations, since almost no-one there has the relevant alcohol-intolerance gene variants. But the findings about the biological effects of alcohol should be the same for all people worldwide, they said. Europe has the highest per person alcohol consumption in the world, even though it has dropped by around 10 percent since 2010, the WHO says, and current trends point to a global rise in per capita consumption in the next 10 years. (Reporting by Kate Kelland; Editing by Hugh Lawson) |
https://finance.yahoo.com/news/ethiopia-inquiry-shows-boeing-max-hurtling-uncontrolled-disaster-192927952--finance.html | 2019-04-04 22:45:34+00:00 | [] | By Jason Neely | Reuters | https://www.reuters.com/ | Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster | By Jason Neely ADDIS ABABA (Reuters) - Ethiopian Airlines' doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control, a preliminary report into the crash that has shaken the aviation world showed on Thursday. Three times the captain, Yared Getachew, cried "pull up", before the Boeing Co plane plunged into a field six minutes after takeoff from Addis Ababa, killing all 157 passengers and crew, said the report by Ethiopian investigators. The March 10 disaster, and parallels with another 737 MAX crash in Indonesia last October in which 189 people died, has led to the worldwide grounding of Boeing's flagship model. It has also brought uncomfortable scrutiny over new software, pilot training and regulatory rigor. The report leaves unanswered questions, aviation experts said, over whether crew followed guidance not to restore power to a troublesome anti-stall system following sensor damage, possibly caused by a bird strike. The plane was also left at unusually high thrust throughout the flight, data suggested. While the Ethiopian Civil Aviation Authority's Accident Prevention and Investigation Bureau had a remit to investigate rather than blame, it implicitly pointed the finger at Boeing by defending the pilots, recommending the U.S. company fix its control systems, and saying regulators must be certain before allowing the MAX back in the air. "The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft," Transport Minister Dagmawit Moges told a news conference. "Since repetitive uncommanded aircraft nose down conditions are noticed ... it is recommended that the aircraft control system shall be reviewed by the manufacturer." Boeing, the world's biggest planemaker and one of the United States' most important exporters with a $500 billion order book for the MAX, says a new software fix for its MCAS anti-stall system will enable pilots to always override if necessary. Responding to the preliminary report, Boeing Chief Executive Officer Dennis Muilenburg said: "As pilots have told us, erroneous activation of the MCAS function 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," Muilenburg said in a statement. FRAGMENTS IN A CRATER According to the preliminary report, an alarm indicating excess speed was heard on the cockpit voice reporter as the jet reached 500 knots (575 miles per hour) - well above operational limits. The plane had faulty "angle of attack" sensor readings, its nose was pushed down automatically, and the crew lost control despite following recommended instructions, it said. "Most of the wreckage was found buried in the ground," the report said, indicating the strength of the impact on an arid field in an agricultural zone. No bodies were recovered, only charred fragments among the debris in a crater. A final report by Ethiopian authorities aided by air-safety experts from the United States and Europe is due to be published within a year. Boeing has seen billions wiped off its market value since the crash, but its shares rose 2.9 percent on Thursday. Morgan Stanley said the report of flight control problems, which Boeing was already trying to fix, meant a "worst case scenario" of a new cause was probably off the table. The software update "along with the associated training and additional educational materials that pilots want in the wake of these accidents, will eliminate the possibility of unintended MCAS activation and prevent an MCAS-related accident from ever happening again," Muilenburg's statement said. Families of the victims, regulators and travellers around the world have been waiting to find out to what extent Boeing technology or the pilots' actions played a role. The preliminary report into the crash of a Lion Air 737 MAX in Indonesia suggested pilots also lost control after grappling with the MCAS software, a new automated anti-stall feature that repeatedly lowered the nose based on faulty sensor data. "Whatever the issues were, they better be 110 percent sure about their resolution, otherwise the 157 lives lost would have been for nothing if something like this happens again," said one woman, who lost her father in the Ethiopian crash, asking not to be identified. "This is a lesson to not take shortcuts in order to try and save bucks." 'PROFITS OVER SAFETY'? The U.S. Federal Aviation Administration regulator, under fire for its certification of the MAX, cautioned the inquiry was not over. "As we learn more about the accident and findings become available, we will take appropriate action," it said. Boeing may press to know more about how crew members responded to problems triggered by the faulty data. The New York Times quoted the Ethiopian government's Dagmawit as saying pilots turned MCAS off and on, which is not the step recommended in procedures telling crew to leave it off once disabled. With bereaved families angry and confused, relatives of an American woman killed in the Ethiopian crash, Samya Stumo, filed the first lawsuit on behalf of a U.S. victim in Chicago. The complaint named Boeing and Rosemount Aerospace Inc, the manufacturer of the angle of attack sensor, as defendants. Stumo is the niece of consumer activist Ralph Nader, who called for a boycott of the 737 MAX on Thursday. Pilots around the world were watching closely. "If the preliminary report from the Ethiopian authorities is accurate, the pilots quickly identified the malfunction and applied the manufacturer's checklist," said Captain Jason Goldberg, spokesman for Allied Pilots Association, which represents American Airlines pilots. "Following this checklist did not appear to allow the pilots to regain control of the aircraft." But a former U.S. National Transportation Safety Board investigator questioned the aircraft's speed, which according to data in the report was left on a higher than usual setting. Aviation experts say the sensor fault should have required the crew to take manual control of the power since it would disrupt accurate speed readings in the cockpit. "The report does not address information about unreliable airspeed procedures which should be considered," said Greg Feith, a former NTSB air safety investigator. GRAPHIC: Ethiopian Airlines crash interactive, click https://tmsnrt.rs/2ChBW5M GRAPHIC: Boeing 737 MAX customers interactive, click https://tmsnrt.rs/2UJzRXj (Reporting by Jason Neely in Addis Ababa, Eric Johnson in Seattle, Katharine Houreld and Maggie Fick in Nairobi, Tim Hepher in Paris, Jamie Freed in Singapore, Tracy Rucinski in Chicago, David Shepardson in Washington; Writing by Andrew Cawthorne and Grant McCool; Editing by Alexandra Hudson and Sonya Hepinstall) |
https://finance.yahoo.com/news/ethiopia-inquiry-shows-boeing-max-hurtling-uncontrolled-disaster-192927219--finance.html | 2019-04-04 22:45:34+00:00 | [] | By Jason Neely | Reuters | https://www.reuters.com/ | Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster | By Jason Neely
ADDIS ABABA (Reuters) - Ethiopian Airlines' doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control, a preliminary report into the crash that has shaken the aviation world showed on Thursday.
Three times the captain, Yared Getachew, cried "pull up", before the Boeing Co plane plunged into a field six minutes after takeoff from Addis Ababa, killing all 157 passengers and crew, said the report by Ethiopian investigators.
The March 10 disaster, and parallels with another 737 MAX crash in Indonesia last October in which 189 people died, has led to the worldwide grounding of Boeing's flagship model.
It has also brought uncomfortable scrutiny over new software, pilot training and regulatory rigor.
The report leaves unanswered questions, aviation experts said, over whether crew followed guidance not to restore power to a troublesome anti-stall system following sensor damage, possibly caused by a bird strike. The plane was also left at unusually high thrust throughout the flight, data suggested.
While the Ethiopian Civil Aviation Authority's Accident Prevention and Investigation Bureau had a remit to investigate rather than blame, it implicitly pointed the finger at Boeing by defending the pilots, recommending the U.S. company fix its control systems, and saying regulators must be certain before allowing the MAX back in the air.
"The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft," Transport Minister Dagmawit Moges told a news conference.
"Since repetitive uncommanded aircraft nose down conditions are noticed ... it is recommended that the aircraft control system shall be reviewed by the manufacturer."
Boeing, the world's biggest planemaker and one of the United States' most important exporters with a $500 billion order book for the MAX, says a new software fix for its MCAS anti-stall system will enable pilots to always override if necessary.
Responding to the preliminary report, Boeing Chief Executive Officer Dennis Muilenburg said: "As pilots have told us, erroneous activation of the MCAS function 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," Muilenburg said in a statement.
FRAGMENTS IN A CRATER
According to the preliminary report, an alarm indicating excess speed was heard on the cockpit voice reporter as the jet reached 500 knots (575 miles per hour) - well above operational limits.
The plane had faulty "angle of attack" sensor readings, its nose was pushed down automatically, and the crew lost control despite following recommended instructions, it said.
"Most of the wreckage was found buried in the ground," the report said, indicating the strength of the impact on an arid field in an agricultural zone. No bodies were recovered, only charred fragments among the debris in a crater.
A final report by Ethiopian authorities aided by air-safety experts from the United States and Europe is due to be published within a year.
Boeing has seen billions wiped off its market value since the crash, but its shares rose 2.9 percent on Thursday. Morgan Stanley said the report of flight control problems, which Boeing was already trying to fix, meant a "worst case scenario" of a new cause was probably off the table.
The software update "along with the associated training and additional educational materials that pilots want in the wake of these accidents, will eliminate the possibility of unintended MCAS activation and prevent an MCAS-related accident from ever happening again," Muilenburg's statement said.
Families of the victims, regulators and travellers around the world have been waiting to find out to what extent Boeing technology or the pilots' actions played a role.
The preliminary report into the crash of a Lion Air 737 MAX in Indonesia suggested pilots also lost control after grappling with the MCAS software, a new automated anti-stall feature that repeatedly lowered the nose based on faulty sensor data.
"Whatever the issues were, they better be 110 percent sure about their resolution, otherwise the 157 lives lost would have been for nothing if something like this happens again," said one woman, who lost her father in the Ethiopian crash, asking not to be identified. "This is a lesson to not take shortcuts in order to try and save bucks."
'PROFITS OVER SAFETY'?
The U.S. Federal Aviation Administration regulator, under fire for its certification of the MAX, cautioned the inquiry was not over. "As we learn more about the accident and findings become available, we will take appropriate action," it said.
Boeing may press to know more about how crew members responded to problems triggered by the faulty data. The New York Times quoted the Ethiopian government's Dagmawit as saying pilots turned MCAS off and on, which is not the step recommended in procedures telling crew to leave it off once disabled.
With bereaved families angry and confused, relatives of an American woman killed in the Ethiopian crash, Samya Stumo, filed the first lawsuit on behalf of a U.S. victim in Chicago. The complaint named Boeing and Rosemount Aerospace Inc, the manufacturer of the angle of attack sensor, as defendants.
Stumo is the niece of consumer activist Ralph Nader, who called for a boycott of the 737 MAX on Thursday.
Pilots around the world were watching closely.
"If the preliminary report from the Ethiopian authorities is accurate, the pilots quickly identified the malfunction and applied the manufacturer's checklist," said Captain Jason Goldberg, spokesman for Allied Pilots Association, which represents American Airlines pilots.
"Following this checklist did not appear to allow the pilots to regain control of the aircraft."
But a former U.S. National Transportation Safety Board investigator questioned the aircraft's speed, which according to data in the report was left on a higher than usual setting. Aviation experts say the sensor fault should have required the crew to take manual control of the power since it would disrupt accurate speed readings in the cockpit.
"The report does not address information about unreliable airspeed procedures which should be considered," said Greg Feith, a former NTSB air safety investigator.
GRAPHIC: Ethiopian Airlines crash interactive, click https://tmsnrt.rs/2ChBW5M GRAPHIC: Boeing 737 MAX customers interactive, click https://tmsnrt.rs/2UJzRXj
(Reporting by Jason Neely in Addis Ababa, Eric Johnson in Seattle, Katharine Houreld and Maggie Fick in Nairobi, Tim Hepher in Paris, Jamie Freed in Singapore, Tracy Rucinski in Chicago, David Shepardson in Washington; Writing by Andrew Cawthorne and Grant McCool; Editing by Alexandra Hudson and Sonya Hepinstall) |
https://finance.yahoo.com/news/ethiopia-inquiry-shows-boeing-max-192927503.html | 2019-04-04 22:45:34+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster | By Jason Neely
ADDIS ABABA (Reuters) - Ethiopian Airlines' doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control, a preliminary report into the crash that has shaken the aviation world showed on Thursday.
Three times the captain, Yared Getachew, cried "pull up", before the Boeing Co plane plunged into a field six minutes after takeoff from Addis Ababa, killing all 157 passengers and crew, said the report by Ethiopian investigators.
The March 10 disaster, and parallels with another 737 MAX crash in Indonesia last October in which 189 people died, has led to the worldwide grounding of Boeing's flagship model.
It has also brought uncomfortable scrutiny over new software, pilot training and regulatory rigor.
The report leaves unanswered questions, aviation experts said, over whether crew followed guidance not to restore power to a troublesome anti-stall system following sensor damage, possibly caused by a bird strike. The plane was also left at unusually high thrust throughout the flight, data suggested.
While the Ethiopian Civil Aviation Authority's Accident Prevention and Investigation Bureau had a remit to investigate rather than blame, it implicitly pointed the finger at Boeing by defending the pilots, recommending the U.S. company fix its control systems, and saying regulators must be certain before allowing the MAX back in the air.
"The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft," Transport Minister Dagmawit Moges told a news conference.
"Since repetitive uncommanded aircraft nose down conditions are noticed ... it is recommended that the aircraft control system shall be reviewed by the manufacturer."
Boeing, the world's biggest planemaker and one of the United States' most important exporters with a $500 billion order book for the MAX, says a new software fix for its MCAS anti-stall system will enable pilots to always override if necessary.
Responding to the preliminary report, Boeing Chief Executive Officer Dennis Muilenburg said: "As pilots have told us, erroneous activation of the MCAS function 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," Muilenburg said in a statement.
FRAGMENTS IN A CRATER
According to the preliminary report, an alarm indicating excess speed was heard on the cockpit voice reporter as the jet reached 500 knots (575 miles per hour) - well above operational limits.
The plane had faulty "angle of attack" sensor readings, its nose was pushed down automatically, and the crew lost control despite following recommended instructions, it said.
"Most of the wreckage was found buried in the ground," the report said, indicating the strength of the impact on an arid field in an agricultural zone. No bodies were recovered, only charred fragments among the debris in a crater.
A final report by Ethiopian authorities aided by air-safety experts from the United States and Europe is due to be published within a year.
Boeing has seen billions wiped off its market value since the crash, but its shares rose 2.9 percent on Thursday. Morgan Stanley said the report of flight control problems, which Boeing was already trying to fix, meant a "worst case scenario" of a new cause was probably off the table.
The software update "along with the associated training and additional educational materials that pilots want in the wake of these accidents, will eliminate the possibility of unintended MCAS activation and prevent an MCAS-related accident from ever happening again," Muilenburg's statement said.
Families of the victims, regulators and travellers around the world have been waiting to find out to what extent Boeing technology or the pilots' actions played a role.
The preliminary report into the crash of a Lion Air 737 MAX in Indonesia suggested pilots also lost control after grappling with the MCAS software, a new automated anti-stall feature that repeatedly lowered the nose based on faulty sensor data.
"Whatever the issues were, they better be 110 percent sure about their resolution, otherwise the 157 lives lost would have been for nothing if something like this happens again," said one woman, who lost her father in the Ethiopian crash, asking not to be identified. "This is a lesson to not take shortcuts in order to try and save bucks."
'PROFITS OVER SAFETY'?
The U.S. Federal Aviation Administration regulator, under fire for its certification of the MAX, cautioned the inquiry was not over. "As we learn more about the accident and findings become available, we will take appropriate action," it said.
Boeing may press to know more about how crew members responded to problems triggered by the faulty data. The New York Times quoted the Ethiopian government's Dagmawit as saying pilots turned MCAS off and on, which is not the step recommended in procedures telling crew to leave it off once disabled.
With bereaved families angry and confused, relatives of an American woman killed in the Ethiopian crash, Samya Stumo, filed the first lawsuit on behalf of a U.S. victim in Chicago. The complaint named Boeing and Rosemount Aerospace Inc, the manufacturer of the angle of attack sensor, as defendants.
Stumo is the niece of consumer activist Ralph Nader, who called for a boycott of the 737 MAX on Thursday.
Pilots around the world were watching closely.
"If the preliminary report from the Ethiopian authorities is accurate, the pilots quickly identified the malfunction and applied the manufacturer's checklist," said Captain Jason Goldberg, spokesman for Allied Pilots Association, which represents American Airlines pilots.
"Following this checklist did not appear to allow the pilots to regain control of the aircraft."
But a former U.S. National Transportation Safety Board investigator questioned the aircraft's speed, which according to data in the report was left on a higher than usual setting. Aviation experts say the sensor fault should have required the crew to take manual control of the power since it would disrupt accurate speed readings in the cockpit.
"The report does not address information about unreliable airspeed procedures which should be considered," said Greg Feith, a former NTSB air safety investigator.
GRAPHIC: Ethiopian Airlines crash interactive, clickhttps://tmsnrt.rs/2ChBW5MGRAPHIC: Boeing 737 MAX customers interactive, clickhttps://tmsnrt.rs/2UJzRXj
(Reporting by Jason Neely in Addis Ababa, Eric Johnson in Seattle, Katharine Houreld and Maggie Fick in Nairobi, Tim Hepher in Paris, Jamie Freed in Singapore, Tracy Rucinski in Chicago, David Shepardson in Washington; Writing by Andrew Cawthorne and Grant McCool; Editing by Alexandra Hudson and Sonya Hepinstall) |
https://finance.yahoo.com/news/ethiopia-inquiry-shows-boeing-max-193025319.html | 2019-04-04 22:46:23+00:00 | null | null | Reuters | https://www.reuters.com/ | Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster | By Jason Neely ADDIS ABABA (Reuters) - Ethiopian Airlines' doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control, a preliminary report into the crash that has shaken the aviation world showed on Thursday. Three times the captain, Yared Getachew, cried "pull up", before the Boeing Co plane plunged into a field six minutes after takeoff from Addis Ababa, killing all 157 passengers and crew, said the report by Ethiopian investigators. The March 10 disaster, and parallels with another 737 MAX crash in Indonesia last October in which 189 people died, has led to the worldwide grounding of Boeing's flagship model. It has also brought uncomfortable scrutiny over new software, pilot training and regulatory rigour. The report leaves unanswered questions, aviation experts said, over whether crew followed guidance not to restore power to a troublesome anti-stall system following sensor damage, possibly caused by a bird strike. The plane was also left at unusually high thrust throughout the flight, data suggested. While the Ethiopian Civil Aviation Authority's Accident Prevention and Investigation Bureau had a remit to investigate rather than blame, it implicitly pointed the finger at Boeing by defending the pilots, recommending the U.S. company fix its control systems, and saying regulators must be certain before allowing the MAX back in the air. "The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft," Transport Minister Dagmawit Moges told a news conference. "Since repetitive uncommanded aircraft nose down conditions are noticed ... it is recommended that the aircraft control system shall be reviewed by the manufacturer." Boeing, the world's biggest planemaker and one of the United States' most important exporters with a $500 billion order book for the MAX, says a new software fix for its MCAS anti-stall system will enable pilots to always override if necessary. Story continues Responding to the preliminary report, Boeing Chief Executive Officer Dennis Muilenburg said: "As pilots have told us, erroneous activation of the MCAS function 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," Muilenburg said in a statement. FRAGMENTS IN A CRATER According to the preliminary report, an alarm indicating excess speed was heard on the cockpit voice reporter as the jet reached 500 knots (575 miles per hour) - well above operational limits. The plane had faulty "angle of attack" sensor readings, its nose was pushed down automatically, and the crew lost control despite following recommended instructions, it said. "Most of the wreckage was found buried in the ground," the report said, indicating the strength of the impact on an arid field in an agricultural zone. No bodies were recovered, only charred fragments among the debris in a crater. A final report by Ethiopian authorities aided by air-safety experts from the United States and Europe is due to be published within a year. Boeing has seen billions wiped off its market value since the crash, but its shares rose 2.9 percent on Thursday. Morgan Stanley said the report of flight control problems, which Boeing was already trying to fix, meant a "worst case scenario" of a new cause was probably off the table. The software update "along with the associated training and additional educational materials that pilots want in the wake of these accidents, will eliminate the possibility of unintended MCAS activation and prevent an MCAS-related accident from ever happening again," Muilenburg's statement said. Families of the victims, regulators and travellers around the world have been waiting to find out to what extent Boeing technology or the pilots' actions played a role. The preliminary report into the crash of a Lion Air 737 MAX in Indonesia suggested pilots also lost control after grappling with the MCAS software, a new automated anti-stall feature that repeatedly lowered the nose based on faulty sensor data. "Whatever the issues were, they better be 110 percent sure about their resolution, otherwise the 157 lives lost would have been for nothing if something like this happens again," said one woman, who lost her father in the Ethiopian crash, asking not to be identified. "This is a lesson to not take shortcuts in order to try and save bucks." 'PROFITS OVER SAFETY'? The U.S. Federal Aviation Administration regulator, under fire for its certification of the MAX, cautioned the inquiry was not over. "As we learn more about the accident and findings become available, we will take appropriate action," it said. Boeing may press to know more about how crew members responded to problems triggered by the faulty data. The New York Times quoted the Ethiopian government's Dagmawit as saying pilots turned MCAS off and on, which is not the step recommended in procedures telling crew to leave it off once disabled. With bereaved families angry and confused, relatives of an American woman killed in the Ethiopian crash, Samya Stumo, filed the first lawsuit on behalf of a U.S. victim in Chicago. The complaint named Boeing and Rosemount Aerospace Inc, the manufacturer of the angle of attack sensor, as defendants. Stumo is the niece of consumer activist Ralph Nader, who called for a boycott of the 737 MAX on Thursday. Pilots around the world were watching closely. "If the preliminary report from the Ethiopian authorities is accurate, the pilots quickly identified the malfunction and applied the manufacturer's checklist," said Captain Jason Goldberg, spokesman for Allied Pilots Association, which represents American Airlines pilots. "Following this checklist did not appear to allow the pilots to regain control of the aircraft." But a former U.S. National Transportation Safety Board investigator questioned the aircraft's speed, which according to data in the report was left on a higher than usual setting. Aviation experts say the sensor fault should have required the crew to take manual control of the power since it would disrupt accurate speed readings in the cockpit. "The report does not address information about unreliable airspeed procedures which should be considered," said Greg Feith, a former NTSB air safety investigator. (Reporting by Jason Neely in Addis Ababa, Eric Johnson in Seattle, Katharine Houreld and Maggie Fick in Nairobi, Tim Hepher in Paris, Jamie Freed in Singapore, Tracy Rucinski in Chicago, David Shepardson in Washington; Writing by Andrew Cawthorne and Grant McCool; Editing by Alexandra Hudson and Sonya Hepinstall) |
https://finance.yahoo.com/news/cumberland-otc-desk-reports-mini-224753495.html | 2019-04-04 22:47:53+00:00 | [] | Ryan Todd | The Block | https://www.theblockcrypto.com/ | Cumberland’s OTC desk reports mini-surge of large BTC orders in a single hour late Monday night | Cumberland, the cryptocurrency OTC shop run by Chicago-based DRW, says its desk saw more than 10 separate bids of more than 1,000 BTC orders within an hour late Monday evening. The OTC shop released post-trade analysis of that night's bitcoin rally — which saw a 20% surge in one hour — stating the volumes, "appear to be actual buyers vs. forced liquidations," in a desk updatetweet.
In a separatetweetyesterday, Cumberland noted that for the first time in eight weeks the price of bitcoin had risen by more than 10%, adding "we are watching for $5,000 (the next even number) and $5,500-$5,800," The latter range representing previous resistance points which were tested during BTC's run-up (and down) to $20,000.
Operating since 2014, DRW Cumberland trades upwards of 40 crypto assets OTC, and recently rolled out a new electronic trading platform, dubbed Marea, to interact with its trading counter-parties. |
https://finance.yahoo.com/news/trump-picks-herman-cain-fed-news-reports-164521925--business.html | 2019-04-04 22:48:11+00:00 | [] | By Steve Holland and Ann Saphir | Reuters | https://www.reuters.com/ | Trump picks former presidential candidate Cain for Fed board | By Steve Holland and Ann Saphir
(Reuters) - U.S. President Donald Trump plans to nominate former pizza chain executive and Republican presidential candidate Herman Cain for a seat on the Federal Reserve Board, where he will help set interest rates for the world's biggest economy.
"I have recommended him highly for the Fed," Trump said in a press conference on Thursday. "I've told my folks that's the man."
Trump has been a vocal and strident critic of the Fed's rate hikes under Jerome Powell, whom the president picked two years ago to chair the U.S. central bank. Trump's other Fed appointees have also supported the Powell Fed's rate hikes, which the president has said hurt the economy.
This year the Fed has put rate hikes on hold, citing a slowing economy and risks from overseas. Trump, meanwhile, has continued to rail against the Fed, even as he has said he will nominate conservative commentator Stephen Moore, a proponent of rate cuts, for a second vacant seat on the Fed Board.
Asked if he is sending a signal to the Fed with the pair of nominations, Trump said: "None whatsoever. He's a highly respected man. He's a friend of mine. He's somebody that gets it, and I hope everything goes well - but Herman Cain is a very good guy."
Board members have a vote on setting interest rates every time U.S. central bankers meet, making them among America's most powerful officials for economic policy. At full strength there are 19 Fed policymakers, including 12 regional Fed bank presidents.
Cain in February told Fox Business Network he believed deflation is a bigger worry, a view that suggests he is not inclined to support rate hikes aimed at keeping inflation in check.
Still, Cain's policy views are not entirely clear: in the same February interview, he said he wanted to use wages as a factor in deciding monetary policy, which in the context of recently rising pay could suggest he would support rate hikes.
Cain, who is 73, has little direct experience with monetary policy, but what track record he does have suggests a penchant for tighter, not looser, policy.
In the 1990s he served as a director at the Kansas City Fed, one of the 12 regional Fed banks that help process payments in the U.S. banking system and whose presidents take turns voting on rate policy. He chaired the board from 1995 to 1996, when its president was the famously hawkish Thomas Hoenig.
Minutes of meetings during that period, obtained by Reuters from the Fed, show that the bank's directors were among those who repeatedly asked the Washington-based Board of Governors to raise rates when most of the boards of directors for the other Fed banks opposed any hike. The concern, according to the minutes, was that continued economic growth could produce price pressures that needed to be contained by tighter policy.
PIZZA MOGUL, PRESIDENTIAL RUN
Cain made his fortune as chief executive of Godfather's Pizza before launching a bid for the Republican presidential nomination in 2012.
He led opinion polls for a while during the Republican nominating contests, buoyed by his signature 9-9-9 tax proposal, which would have levied a flat 9 percent corporate, income and sales tax.
But his popularity slipped amid sexual harassment allegations from several women, which he denied as "completely false."
Cain's likely nomination drew criticism from Utah Republican Senator Mitt Romney.
“I doubt that will be a nomination," Romney told Politico. "But if it were a nomination, you can bet [what] the interest rates he would be pushing for ... If Herman Cain were on the Fed, you’d know the interest rate would soon be 9-9-9."
(Writing by Ann Saphir; with reporting by Jeff Mason; editing by Jonathan Oatis and James Dalgleish) |
https://finance.yahoo.com/news/isignthis-ltds-asx-isx-ceo-225109780.html | 2019-04-04 22:51:09+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Is iSignthis Ltd's (ASX:ISX) CEO Paid At A Competitive Rate? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
John Karantzis is the CEO of iSignthis Ltd (ASX:ISX). This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. Then we'll look at a snap shot of the business growth. Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. The aim of all this is to consider the appropriateness of CEO pay levels.
View our latest analysis for iSignthis
At the time of writing our data says that iSignthis Ltd has a market cap of AU$345m, and is paying total annual CEO compensation of AU$385k. (This is based on the year to June 2018). While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at AU$307k. We looked at a group of companies with market capitalizations from AU$140m to AU$562m, and the median CEO total compensation was AU$762k.
This would give shareholders a good impression of the company, since most similar size companies have to pay more, leaving less for shareholders. However, before we heap on the praise, we should delve deeper to understand business performance.
The graphic below shows how CEO compensation at iSignthis has changed from year to year.
Over the last three years iSignthis Ltd has grown its earnings per share (EPS) by an average of 45% per year (using a line of best fit). Its revenue is up 222% over last year.
Overall this is a positive result for shareholders, showing that the company has improved in recent years. The combination of strong revenue growth with medium-term earnings per share improvement certainly points to the kind of growth I like to see. Although we don't have analyst forecasts, you might want to assessthis data-rich visualizationof earnings, revenue and cash flow.
I think that the total shareholder return of 45%, over three years, would leave most iSignthis Ltd shareholders smiling. This strong performance might mean some shareholders don't mind if the CEO were to be paid more than is normal for a company of its size.
iSignthis Ltd is currently paying its CEO below what is normal for companies of its size. Many would consider this to indicate that the pay is modest since the business is growing. And given most shareholders are probably very happy with recent returns, you might even think that John Karantzis deserves a raise!
It's not often we see shareholders do so well, and yet the CEO is paid modestly. It would be even more positive if company insiders are buying shares. Whatever your view on compensation, you might want tocheck if insiders are buying or selling iSignthis shares (free trial).
Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of interesting companies.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
https://finance.yahoo.com/news/asian-shares-near-eight-month-highs-eyes-u-004557551.html | 2019-04-04 22:53:35+00:00 | [] | By Chuck Mikolajczak | Reuters | https://www.reuters.com/ | Global stocks stall on trade talk uncertainty, German data hits euro | By Chuck Mikolajczak NEW YORK (Reuters) - Global stocks held near the unchanged mark on Thursday, as investors looked for more detailed signs of progress in U.S.-China trade talks while disappointing economic data out of Germany knocked the euro. Mixed reports about progress on a trade deal left investors cautious about taking on more risk after a five-day run of gains that sent stocks to a six-month high. U.S. President Donald Trump said on Thursday trade talks with China were going well and he would only accept a "great" deal as negotiators hammered out differences ahead of a meeting between Trump and China's vice premier later in the day. After a run of mixed economic data, Friday's U.S. payrolls report also loomed large for investors for signs the labor market remained robust. Labor market data on Thursday showed weekly jobless claims fell to their lowest since 1969. "People are believing something is going to come out of it, and net, the U.S. will be better off than they were a year ago, maybe not getting everything they want, but net better off. That is probably built into prices right now," said Craig Callahan¸ president at ICON Funds in Denver. "Unless it is just an outrageous deal, anything within the normal range of expectations is built in." The Dow Jones Industrial Average rose 166.5 points, or 0.64%, to 26,384.63, the S&P 500 gained 6.01 points, or 0.21%, to 2,879.41 and the Nasdaq Composite dropped 3.77 points, or 0.05%, to 7,891.78. Germany's data showed industrial orders fell at their sharpest rate in more than two years in February, driven largely by a slump in foreign demand. It compounded signals that Europe's largest economy has had a soft start to the year, held the euro near $1.12 and sent German Bund yields back below zero. GRAPHIC-Germany laggard Europe April 4, click https://tmsnrt.rs/2CTbsI0 Shares in Europe also to snap a four-day streak of gains, as the STOXX 600 pulled back from eight-month highs. The pan-European STOXX 600 index lost 0.27% and MSCI's gauge of stocks across the globe gained 0.01%. The dollar firmed against a basket of major currencies while sterling fell on concerns Britain could be staring at a long Brexit delay. Reuters reported 25 lawmakers in Britain's opposition Labour Party have urged their leader, Jeremy Corbyn, to go the "extra step" if there is a chance of agreeing a Brexit deal in talks with Prime Minister Theresa May. But pro-Brexit lawmakers in Britain's upper house of parliament tried to stop the approval of a new law that would force May to seek a delay to prevent a disorderly EU exit on April 12 without a deal, underscoring the contentious nature of the process. The dollar index rose 0.19%, with the euro down 0.11% to $1.1222. Sterling was last trading at $1.3078, down 0.62% on the day. Brent crude resumed its upward climb, briefly topping $70 per barrel for the first time since November as expectations of tight global oil supply outweighed pressure from rising U.S. inventories and production. U.S. crude settled down 0.58% at $62.10 per barrel and Brent settled at $69.40, up 0.13% on the day. (Additional reporting by Sruthi Shankar and Shreyashi Sanyal in Bengaluru; Editing by Susan Thomas and James Dalgleish) |
https://finance.yahoo.com/news/asian-shares-near-eight-month-004557114.html | 2019-04-04 22:53:35+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Global stocks stall on trade talk uncertainty, German data hits euro | By Chuck Mikolajczak
NEW YORK (Reuters) - Global stocks held near the unchanged mark on Thursday, as investors looked for more detailed signs of progress in U.S.-China trade talks while disappointing economic data out of Germany knocked the euro.
Mixed reports about progress on a trade deal left investors cautious about taking on more risk after a five-day run of gains that sent stocks to a six-month high.
U.S. President Donald Trump said on Thursday trade talks with China were going well and he would only accept a "great" deal as negotiators hammered out differences ahead of a meeting between Trump and China's vice premier later in the day.
After a run of mixed economic data, Friday's U.S. payrolls report also loomed large for investors for signs the labor market remained robust. Labor market data on Thursday showed weekly jobless claims fell to their lowest since 1969.
"People are believing something is going to come out of it, and net, the U.S. will be better off than they were a year ago, maybe not getting everything they want, but net better off. That is probably built into prices right now," said Craig Callahan¸ president at ICON Funds in Denver.
"Unless it is just an outrageous deal, anything within the normal range of expectations is built in."
The Dow Jones Industrial Average rose 166.5 points, or 0.64%, to 26,384.63, the S&P 500 gained 6.01 points, or 0.21%, to 2,879.41 and the Nasdaq Composite dropped 3.77 points, or 0.05%, to 7,891.78.
Germany's data showed industrial orders fell at their sharpest rate in more than two years in February, driven largely by a slump in foreign demand.
It compounded signals that Europe's largest economy has had a soft start to the year, held the euro near $1.12 and sent German Bund yields back below zero.
GRAPHIC-Germany laggard Europe April 4, clickhttps://tmsnrt.rs/2CTbsI0
Shares in Europe also to snap a four-day streak of gains, as the STOXX 600 pulled back from eight-month highs. The pan-European STOXX 600 index lost 0.27% and MSCI's gauge of stocks across the globe gained 0.01%.
The dollar firmed against a basket of major currencies while sterling fell on concerns Britain could be staring at a long Brexit delay.
Reuters reported 25 lawmakers in Britain's opposition Labour Party have urged their leader, Jeremy Corbyn, to go the "extra step" if there is a chance of agreeing a Brexit deal in talks with Prime Minister Theresa May.
But pro-Brexit lawmakers in Britain's upper house of parliament tried to stop the approval of a new law that would force May to seek a delay to prevent a disorderly EU exit on April 12 without a deal, underscoring the contentious nature of the process.
The dollar index rose 0.19%, with the euro down 0.11% to $1.1222. Sterling was last trading at $1.3078, down 0.62% on the day.
Brent crude resumed its upward climb, briefly topping $70 per barrel for the first time since November as expectations of tight global oil supply outweighed pressure from rising U.S. inventories and production.
U.S. crude settled down 0.58% at $62.10 per barrel and Brent settled at $69.40, up 0.13% on the day.
(Additional reporting by Sruthi Shankar and Shreyashi Sanyal in Bengaluru; Editing by Susan Thomas and James Dalgleish) |
https://finance.yahoo.com/news/u-test-nuclear-reactor-may-225524424.html | 2019-04-04 22:55:24+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | U.S. test nuclear reactor may run 40 pct over cost -gov't document | (Adds details on cost estimates)
By Timothy Gardner
WASHINGTON, April 4 (Reuters) - The flagship of the Trump administration's advanced nuclear power research program could cost about 40 percent more than a government official estimated earlier this year, a U.S. Department of Energy document shows.
Energy Secretary Rick Perry has tried to breathe life into the country's nuclear power industry, which is suffering in the face of competition from plants burning cheap natural gas as well as falling costs for wind and solar power.
Perry announced the versatile test reactor, or VTR, in late February, saying it was a "key step to implementing President (Donald) Trump's direction to revitalize and expand the U.S. nuclear industry," and critical for national security.
The VTR would let U.S. companies conduct advanced technology and fuels tests without having to go to competitors in Russia and China, Perry said. Meant to be built by late 2025, it would be the first new nuclear test reactor built by the Energy Department, or DOE, in many decades.
Perry did not put a price on the reactor, which would be led by the department's Idaho National Laboratory. But an internal DOE document dated Jan. 22, obtained by public policy group the Union of Concerned Scientists (UCS) through a freedom of information request, puts the estimated cost for construction and starting the VTR at $3.9 billion to $6 billion. The document, seen by Reuters on Thursday, had not been reported previously.
The high end of that range is about 40 percent more than an estimate by Kemal Pasamehmetoglu, the head of the Idaho National Laboratory's VTR program, who was quoted in the Morning Consult news outlet in February saying it would cost up to $3.5 billion in today's dollars. The calculation of the jump in the cost is affected by the Energy Department's estimate which included cost escalations of up to 3.8 percent annually.
The UCS estimated that VTR's cost for the next seven years would be about $550 million to $850 million annually, compared to the $740 million appropriated in the fiscal year 2019 budget for the department's entire advanced nuclear technology development, which contained just $65 million for VTR.
If successful, the VTR is meant to lead to a new wave of so-called fast reactors, reviving nuclear power companies. Fast reactors breed their own fuel, unlike today's fleet of light water reactors. They also have a safety benefit of allowing a plant to operate under low pressure conditions.
But critics worry that the fuel cycle of fast reactors will likely depend on the reprocessing or recycling of plutonium or uranium, both of which can be used as fissile materials for nuclear weapons.
"Fast reactors are less safe, less secure, and more proliferation-prone than light-water reactors," said Ed Lyman, a senior scientist at UCS. "The DOE should not be asking taxpayers to spend billions on this dangerous reactor."
Lyman also said cheaper approaches for testing to support fast reactor development could be done at Oak Ridge National Laboratory, the DOE-sponsored research and development center in Tennessee.
The DOE did not immediately respond to a request for comment.
VTR has already led to business for nuclear companies. In November, the Idaho lab said it had contracted GE Hitachi Nuclear, a venture between General Electric Co and Hitachi Ltd, to support the conceptual design and safety activities for an unspecified amount. (Reporting by Timothy Gardner; Editing by Tom Brown and Daniel Wallis) |
https://finance.yahoo.com/news/mormons-repeal-ban-baptisms-children-gay-parents-154749335.html | 2019-04-04 22:55:44+00:00 | null | null | Associated Press | https://apnews.com/ | Mormons ease opposition to same-sex couples and their kids | SALT LAKE CITY (AP) — The Church of Jesus Christ of Latter-day Saints on Thursday repealed rules that banned baptisms for children of gay parents and that labeled same-sex couples as sinners eligible for expulsion — marking a reversal of policies condemned as jarring detours from a push by the faith to be more compassionate about LGBTQ issues. LGBTQ church members and groups that support them expressed relief about what they called an important step forward for the faith. However, they also said they were angry about the harm the 2015 policies had caused and the lack of an apology by church leaders. In a statement posted online, church leaders described the changes as "very positive policies" that should help "affected families." The faith's highest leadership group, known as the First Presidency, made the decision after "fervent, united prayer to understand the will of the Lord on these matters," the statement said. The faith widely known as the Mormon church said it is not changing its doctrinal opposition to gay marriage and still considers same-sex relationships to be a "serious transgression." "We want to reduce the hate and contention so common today," the statement said. The rules approved by global church leaders in 2015 had prohibited baptisms for children living with gay parents until the children turned 18 and disavowed same-sex relationships. With the change, children of gay parents can now be baptized as long as their parents approve the baptisms and acknowledge that the children will be taught church doctrine. People in same-sex relationships will no longer be considered "apostates," a term the religion uses for people who teach inaccurate doctrine or publicly defy guidance from church leaders. Apostates can be kicked out of the religion. That label was widely condemned by LGBQT members and allies as being demeaning and hurtful to people who already struggle to find acceptance in the faith. Story continues "It was a stigma. It was like wearing a Scarlet letter," said Nathan Kitchen, a gay Mormon father of five children from Gilbert, Arizona. "You are cut off, you are a pariah." Kitchen said he cried when he heard the news about the new policies. Kitchen, also the president of an organization called Affirmation that supports LGBTQ church members, said the old policies had fueled painful custody battles as straight parents tried to ensure their children could be full members of the faith. Wendy Montgomery, an Arizona mother of a gay son, said she's pleased the rules have been changed but believes the harm caused by the previous policies can't be undone. The lifelong church member left the religion after the 2015 policy was instituted. "It deeply wounded and traumatized every single LGBQT Mormon that I know," said Montgomery, a member of a mothers group called "Mama Dragons" that advocates for parents with LGTBQ members of the faith. The announcement came two days before Saturday's twice-yearly church conference in Salt Lake City. It was unclear if church leaders will speak more about the changes during speeches at the conference. Erika Munson, co-founder of the Mormons Building Bridges LGBTQ advocacy group, said there's a "great feeling of being heard" because the changes came after an outcry from church members. "We saw the church correct a mistake in record time," Munson said. "Usually these things take maybe 100 years or more." The move undoes the one major detour from a decade-long path by the faith toward more compassion on LGBTQ issues while sticking to doctrinal opposition of intimacy between people in same-sex relationships, said Patrick Mason, a religion professor at Claremont Graduate University in California who studies the faith. The policy seemed to harm the church image and touched a nerve with liberal members and conservative, orthodox members, he said. "That policy always seemed out of step," Mason said. Membership growth in the religion has stagnated in recent years, and young members opposed the policies at much higher rates than older members, said Jana Riess, who surveyed members of the religion for her book, "The Next Mormons: How Millennials Are Changing the LDS Church." Faith leaders had previously explained that the 2015 rules were designed to protect children by not putting them in a potential tug-of-war between the beliefs of same-sex couples raising them and teachings and activities at church. Church President Russell M. Nelson, then a member of a governing body that helps the president lead the church, defended the policy in a 2016 speech in which he said a revelation received by then-President Thomas S. Monson and other leaders gave them "spiritual confirmation" that the rules were the right thing to do after many states legalized gay marriage. The speed at which church leaders and Nelson in particular changed course on the issue was rare and surprising, said Matthew Bowman, an associate professor of history at Henderson State University in Arkadelphia, Arkansas, who studies the faith. "It seems to indicate that ultimately they decided it was doing more harm than good," Bowman said. |
https://finance.yahoo.com/news/exclusive-venezuelas-pdvsa-braces-low-output-crucial-crude-225536458--finance.html | 2019-04-04 22:57:11+00:00 | [] | By Mircely Guanipa and Deisy Buitrago | Reuters | https://www.reuters.com/ | Exclusive: Venezuela's PDVSA braces for low output from crucial crude upgraders | By Mircely Guanipa and Deisy Buitrago
PUNTO FIJO/CARACAS (Reuters) - Venezuelan state-owned oil company PDVSA expects its crucial crude upgraders to operate well below capacity this month, according to industry sources and documents seen by Reuters, as U.S. sanctions and energy blackouts hit the OPEC nation's oil industry.
Venezuela depends on the upgraders, which are mostly operated by joint ventures with foreign companies, to convert the extra-heavy crude oil produced in the Orinoco Belt into exportable grades usable in overseas refineries. Together, they have a capacity of some 700,000 barrels per day.
Prolonged power outages have been adding to problems blending and exporting crude, as PDVSA's main oil port, Jose, in northeastern Venezuela remained paralyzed.
The Petropiar and Petromonagas upgraders, part-owned by U.S. oil major Chevron and Russian giant Rosneft respectively, have not fully restarted since a March 7 blackout.
Petrocedeno, part-owned by France's Total and Norway's Equinor, stopped working after a second blackout on March 25, as did PDVSA's fully-owned Petrosanfelix.
"The upgraders are still halted," oil workers' union leader Jose Bodas said.
According to an internal PDVSA document seen by Reuters this week, Petropiar and Petrocedeno are "in the process of restarting."
Petromonagas is expected to undergo "cleaning and repair" this month after maintenance workers found two of its furnaces were obstructed by waste products, while a maintenance process at Petrosanfelix was halted, according to the document.
"The upgraders are not expected to increase processing," an internal PDVSA document detailing planning for the month of April reads.
It said Petrosanfelix was unlikely to restart, while the remaining three would likely process crude at reduced rates.
One industry source, speaking on the condition of anonymity because of a lack of authorization to speak publicly, said the blockages of Petromonagas' furnaces was likely to keep the upgrader out of commission for 20 days.
The source said the company had canceled all its shipments of upgraded crude for April.
Neither PDVSA nor Venezuela's oil ministry responded to a request for comment. Total declined to comment, while Chevron referred questions to Petropiar, which like all oil joint ventures in Venezuela is controlled by PDVSA. Rosneft and Equinor did not respond to requests for comment.
EXPORTS TUMBLED IN FEBRUARY
The blackouts have presented an additional obstacle for President Nicolas Maduro's efforts to halt a years-long drop in oil output, Venezuela's main source of government revenue. The decline in production is expected to accelerate after the United States sanctioned PDVSA in late January, as part of its bid to oust Maduro from power.
Exports fell about 40 percent in February in the immediate aftermath of the sanctions, but remained stable in March at slightly below 1 million barrels per day (bpd).
To keep exports stable with limited upgrading capacity, PDVSA will need to import diluents - light crude or heavy naphtha - that can be blended directly with extra heavy oil from the Orinoco belt to make exportable grades.
But the sanctions blocked U.S. companies, previously the main suppliers of diluents to Venezuela, from selling the products to PDVSA.
The Petrosinovensa blending facility, a joint venture of PDVSA and China's CNPC that produces Merey crude, was producing about 60 percent of the 132,000 bpd of upgraded crude it planned to produce, the PDVSA document showed.
To avoid a further drop in exports, the country has recently turned to Rosneft for supply of diluents, according to the industry source and Refinitiv Eikon data.
One tanker, the Torm Hilde carrying 780,000 barrels of naphtha, has set sail for Venezuela, while a second one with 500,000 barrels was expected to set sail soon.
(Reporting by Mircely Guanipa in Punto Fijo, Deisy Buitrago in Caracas and Marianna Parraga in Mexico City; Writing by Luc Cohen; Editing by Daniel Flynn and Tom Brown) |
https://finance.yahoo.com/news/ethiopia-inquiry-shows-boeing-max-200805211.html | 2019-04-04 22:59:47+00:00 | null | null | Reuters | https://www.reuters.com/ | Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster | By Jason Neely ADDIS ABABA (Reuters) - Ethiopian Airlines' doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control, a preliminary report into the crash that has shaken the aviation world showed on Thursday. Three times the captain, Yared Getachew, cried "pull up", before the Boeing Co plane plunged into a field six minutes after takeoff from Addis Ababa, killing all 157 passengers and crew, said the report by Ethiopian investigators. The March 10 disaster, and parallels with another 737 MAX crash in Indonesia last October in which 189 people died, has led to the worldwide grounding of Boeing's flagship model. It has also brought uncomfortable scrutiny over new software, pilot training and regulatory rigour. The report leaves unanswered questions, aviation experts said, over whether crew followed guidance not to restore power to a troublesome anti-stall system following sensor damage, possibly caused by a bird strike. The plane was also left at unusually high thrust throughout the flight, data suggested. While the Ethiopian Civil Aviation Authority's Accident Prevention and Investigation Bureau had a remit to investigate rather than blame, it implicitly pointed the finger at Boeing by defending the pilots, recommending the U.S. company fix its control systems, and saying regulators must be certain before allowing the MAX back in the air. "The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft," Transport Minister Dagmawit Moges told a news conference. "Since repetitive uncommanded aircraft nose down conditions are noticed ... it is recommended that the aircraft control system shall be reviewed by the manufacturer." Boeing, the world's biggest planemaker and one of the United States' most important exporters with a $500 billion order book for the MAX, says a new software fix for its MCAS anti-stall system will enable pilots to always override if necessary. Story continues Responding to the preliminary report, Boeing Chief Executive Officer Dennis Muilenburg said: "As pilots have told us, erroneous activation of the MCAS function 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," Muilenburg said in a statement. FRAGMENTS IN A CRATER According to the preliminary report, an alarm indicating excess speed was heard on the cockpit voice reporter as the jet reached 500 knots (575 miles per hour) - well above operational limits. The plane had faulty "angle of attack" sensor readings, its nose was pushed down automatically, and the crew lost control despite following recommended instructions, it said. "Most of the wreckage was found buried in the ground," the report said, indicating the strength of the impact on an arid field in an agricultural zone. No bodies were recovered, only charred fragments among the debris in a crater. A final report by Ethiopian authorities aided by air-safety experts from the United States and Europe is due to be published within a year. Boeing has seen billions wiped off its market value since the crash, but its shares rose 2.9 percent on Thursday. Morgan Stanley said the report of flight control problems, which Boeing was already trying to fix, meant a "worst case scenario" of a new cause was probably off the table. The software update "along with the associated training and additional educational materials that pilots want in the wake of these accidents, will eliminate the possibility of unintended MCAS activation and prevent an MCAS-related accident from ever happening again," Muilenburg's statement said. Families of the victims, regulators and travellers around the world have been waiting to find out to what extent Boeing technology or the pilots' actions played a role. The preliminary report into the crash of a Lion Air 737 MAX in Indonesia suggested pilots also lost control after grappling with the MCAS software, a new automated anti-stall feature that repeatedly lowered the nose based on faulty sensor data. "Whatever the issues were, they better be 110 percent sure about their resolution, otherwise the 157 lives lost would have been for nothing if something like this happens again," said one woman, who lost her father in the Ethiopian crash, asking not to be identified. "This is a lesson to not take shortcuts in order to try and save bucks." 'PROFITS OVER SAFETY'? The U.S. Federal Aviation Administration regulator, under fire for its certification of the MAX, cautioned the inquiry was not over. "As we learn more about the accident and findings become available, we will take appropriate action," it said. Boeing may press to know more about how crew members responded to problems triggered by the faulty data. The New York Times quoted the Ethiopian government's Dagmawit as saying pilots turned MCAS off and on, which is not the step recommended in procedures telling crew to leave it off once disabled. With bereaved families angry and confused, relatives of an American woman killed in the Ethiopian crash, Samya Stumo, filed the first lawsuit on behalf of a U.S. victim in Chicago. The complaint named Boeing and Rosemount Aerospace Inc, the manufacturer of the angle of attack sensor, as defendants. Stumo is the niece of consumer activist Ralph Nader, who called for a boycott of the 737 MAX on Thursday. Pilots around the world were watching closely. "If the preliminary report from the Ethiopian authorities is accurate, the pilots quickly identified the malfunction and applied the manufacturer's checklist," said Captain Jason Goldberg, spokesman for Allied Pilots Association, which represents American Airlines pilots. "Following this checklist did not appear to allow the pilots to regain control of the aircraft." But a former U.S. National Transportation Safety Board investigator questioned the aircraft's speed, which according to data in the report was left on a higher than usual setting. Aviation experts say the sensor fault should have required the crew to take manual control of the power since it would disrupt accurate speed readings in the cockpit. "The report does not address information about unreliable airspeed procedures which should be considered," said Greg Feith, a former NTSB air safety investigator. (GRAPHIC: Ethiopian Airlines crash interactive, https://tmsnrt.rs/2ChBW5M ) (GRAPHIC: Boeing 737 MAX customers interactive, https://tmsnrt.rs/2UJzRXj ) (Reporting by Jason Neely in Addis Ababa, Eric Johnson in Seattle, Katharine Houreld and Maggie Fick in Nairobi, Tim Hepher in Paris, Jamie Freed in Singapore, Tracy Rucinski in Chicago, David Shepardson in Washington; Writing by Andrew Cawthorne and Grant McCool; Editing by Alexandra Hudson and Sonya Hepinstall) |
https://finance.yahoo.com/news/ethiopia-inquiry-shows-boeing-max-hurtling-uncontrolled-disaster-200805785--finance.html | 2019-04-04 22:59:47+00:00 | [] | By Jason Neely | Reuters | https://www.reuters.com/ | Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster | By Jason Neely
ADDIS ABABA (Reuters) - Ethiopian Airlines' doomed 737 MAX jet hit excessive speed and was forced downwards by a wrongly-triggered automation system as pilots wrestled to regain control, a preliminary report into the crash that has shaken the aviation world showed on Thursday.
Three times the captain, Yared Getachew, cried "pull up", before the Boeing Co plane plunged into a field six minutes after takeoff from Addis Ababa, killing all 157 passengers and crew, said the report by Ethiopian investigators.
The March 10 disaster, and parallels with another 737 MAX crash in Indonesia last October in which 189 people died, has led to the worldwide grounding of Boeing's flagship model.
It has also brought uncomfortable scrutiny over new software, pilot training and regulatory rigour.
The report leaves unanswered questions, aviation experts said, over whether crew followed guidance not to restore power to a troublesome anti-stall system following sensor damage, possibly caused by a bird strike. The plane was also left at unusually high thrust throughout the flight, data suggested.
While the Ethiopian Civil Aviation Authority's Accident Prevention and Investigation Bureau had a remit to investigate rather than blame, it implicitly pointed the finger at Boeing by defending the pilots, recommending the U.S. company fix its control systems, and saying regulators must be certain before allowing the MAX back in the air.
"The crew performed all the procedures repeatedly provided by the manufacturer but was not able to control the aircraft," Transport Minister Dagmawit Moges told a news conference.
"Since repetitive uncommanded aircraft nose down conditions are noticed ... it is recommended that the aircraft control system shall be reviewed by the manufacturer."
Boeing, the world's biggest planemaker and one of the United States' most important exporters with a $500 billion order book for the MAX, says a new software fix for its MCAS anti-stall system will enable pilots to always override if necessary.
Responding to the preliminary report, Boeing Chief Executive Officer Dennis Muilenburg said: "As pilots have told us, erroneous activation of the MCAS function 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," Muilenburg said in a statement.
FRAGMENTS IN A CRATER
According to the preliminary report, an alarm indicating excess speed was heard on the cockpit voice reporter as the jet reached 500 knots (575 miles per hour) - well above operational limits.
The plane had faulty "angle of attack" sensor readings, its nose was pushed down automatically, and the crew lost control despite following recommended instructions, it said.
"Most of the wreckage was found buried in the ground," the report said, indicating the strength of the impact on an arid field in an agricultural zone. No bodies were recovered, only charred fragments among the debris in a crater.
A final report by Ethiopian authorities aided by air-safety experts from the United States and Europe is due to be published within a year.
Boeing has seen billions wiped off its market value since the crash, but its shares rose 2.9 percent on Thursday. Morgan Stanley said the report of flight control problems, which Boeing was already trying to fix, meant a "worst case scenario" of a new cause was probably off the table.
The software update "along with the associated training and additional educational materials that pilots want in the wake of these accidents, will eliminate the possibility of unintended MCAS activation and prevent an MCAS-related accident from ever happening again," Muilenburg's statement said.
Families of the victims, regulators and travellers around the world have been waiting to find out to what extent Boeing technology or the pilots' actions played a role.
The preliminary report into the crash of a Lion Air 737 MAX in Indonesia suggested pilots also lost control after grappling with the MCAS software, a new automated anti-stall feature that repeatedly lowered the nose based on faulty sensor data.
"Whatever the issues were, they better be 110 percent sure about their resolution, otherwise the 157 lives lost would have been for nothing if something like this happens again," said one woman, who lost her father in the Ethiopian crash, asking not to be identified. "This is a lesson to not take shortcuts in order to try and save bucks."
'PROFITS OVER SAFETY'?
The U.S. Federal Aviation Administration regulator, under fire for its certification of the MAX, cautioned the inquiry was not over. "As we learn more about the accident and findings become available, we will take appropriate action," it said.
Boeing may press to know more about how crew members responded to problems triggered by the faulty data. The New York Times quoted the Ethiopian government's Dagmawit as saying pilots turned MCAS off and on, which is not the step recommended in procedures telling crew to leave it off once disabled.
With bereaved families angry and confused, relatives of an American woman killed in the Ethiopian crash, Samya Stumo, filed the first lawsuit on behalf of a U.S. victim in Chicago. The complaint named Boeing and Rosemount Aerospace Inc, the manufacturer of the angle of attack sensor, as defendants.
Stumo is the niece of consumer activist Ralph Nader, who called for a boycott of the 737 MAX on Thursday.
Pilots around the world were watching closely.
"If the preliminary report from the Ethiopian authorities is accurate, the pilots quickly identified the malfunction and applied the manufacturer's checklist," said Captain Jason Goldberg, spokesman for Allied Pilots Association, which represents American Airlines pilots.
"Following this checklist did not appear to allow the pilots to regain control of the aircraft."
But a former U.S. National Transportation Safety Board investigator questioned the aircraft's speed, which according to data in the report was left on a higher than usual setting. Aviation experts say the sensor fault should have required the crew to take manual control of the power since it would disrupt accurate speed readings in the cockpit.
"The report does not address information about unreliable airspeed procedures which should be considered," said Greg Feith, a former NTSB air safety investigator.
(GRAPHIC: Ethiopian Airlines crash interactive, https://tmsnrt.rs/2ChBW5M)
(GRAPHIC: Boeing 737 MAX customers interactive, https://tmsnrt.rs/2UJzRXj)
(Reporting by Jason Neely in Addis Ababa, Eric Johnson in Seattle, Katharine Houreld and Maggie Fick in Nairobi, Tim Hepher in Paris, Jamie Freed in Singapore, Tracy Rucinski in Chicago, David Shepardson in Washington; Writing by Andrew Cawthorne and Grant McCool; Editing by Alexandra Hudson and Sonya Hepinstall) |
https://finance.yahoo.com/news/parcelpal-announces-call-details-quarterly-230000591.html | 2019-04-04 23:00:00+00:00 | [] | ACCESSWIRE | ACCESSWIRE | https://www.accesswire.com/ | ParcelPal Announces Call-In Details for Quarterly Reporting Call to Take Place on May 1st, 2019 | VANCOUVER, BC / ACCESSWIRE / April 4, 2019 /ParcelPal Technology Inc. (''ParcelPal'' or the ''Company''), (PKG.CN) (PT0.F) (PTNYF) is pleased to announce that it will be hosting an investor update conference call on May 1st, 2019 to review the Company's recent progress. The Company would also like to inform shareholders that it will be releasing its quarterly financial statements for Q4 FY2018 (October 1, 2018 - December 31, 2018) by April 30, 2019.
Conference Call Information:
When: May 1st, 2019, 8:00 am PST / 11:00 am EST
Dial in Canada: +1 647 558 0588
Dial in United States: +1 929 205 6099
Meeting ID: 142 555 258
You do not require a participant ID when entering the call.
About ParcelPal Technology Inc.
ParcelPal is a technology-driven logistics company that connects consumers to the goods they love. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver and soon in major cities Canada-wide.
ParcelPal Website:www.parcelpal.com
The Canadian Securities Exchange (''CSE'') or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management.
CSE - Symbol:PKG
FSE - Symbol:PT0
OTC - Symbol:PTNYF
Contact:
Peter HinamDirector-Investor [email protected]
Forward Looking Information
This news release contains forward looking statements relating to the Proposed Transaction, and the future potential of ParcelPal. Forward looking statements are often identified by terms such as "will", "may", "should", ''intends'', "anticipates", "expects", ''plans'' and similar expressions. All statements other than statements of historical fact, included in this release are forward looking statements that involve risks and uncertainties. These risks and uncertainties include, without limitation, the risk that the Proposed Transaction will not be completed due to, among other things, failure to execute definitive documentation, failure to complete satisfactory due diligence, failure to receive the approval of the CSE and the risk that ParcelPal will not be successful due to, among other things, general risks relating to the mobile application industry, failure of ParcelPal to gain market acceptance and potential challenges to the intellectual property utilized in ParcelPal. There can be no assurance that any forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The Company cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward looking statements as expressly required by Canadian securities laws.
SOURCE:ParcelPal Technology Inc.
View source version on accesswire.com:https://www.accesswire.com/541003/ParcelPal-Announces-Call-In-Details-for-Quarterly-Reporting-Call-to-Take-Place-on-May-1st-2019 |
https://finance.yahoo.com/news/apple-slashes-homepod-pricing-230000985.html | 2019-04-04 23:00:00+00:00 | [] | Ashraf Eassa, The Motley Fool | Motley Fool | http://www.fool.com/ | Apple Slashes HomePod Pricing | Apple(NASDAQ: AAPL)launched its first smart speaker back in early 2018. The device received mixed reviews -- it was praised for its excellent sound quality but it arguably didn't deliver on the "smart" part of "smart speaker." On top of that, this wasn't an offering intended to compete on price -- it was priced at apremium to other popular smart-speaker offerings.
Apple's brand strength allowed it to sell as many of these devices as it did. A while back, analysts with Strategy Analyticsclaimedthat HomePod captured a significant amount of overall industry revenue share (16%), as well as share of the $200-plus smart-speaker market (70%) in the second quarter of 2018. However, I don't think this product ultimately panned out as many customers and, seemingly, Apple itself had hoped for.
Image source: HomePod.
Apple tried to stimulate demand for the HomePod by giving Apple Music users a $50 discount on the device in the U.K. On April 4, 2019, Apple formally (and quietly) cut pricing of the HomePod by $50. Here's what this means.
Setting product pricing is a tricky balancing act. If a company prices a product too low, it might maximize the number of units it sells, but that might not maximize either revenue or gross profit. If a company prices a product too high, then per-device revenue and gross margin could be quite high, but the company might be leaving a significant number of unit shipments on the table, yet again failing to maximize revenue and gross profit.
At the original $349 price point, HomePod was one expensive smart speaker. That, coupled with the fact that it wasn't exactly a home run in terms of features and functionality, probably limited its appeal.
As mentioned above, Apple sold a fair number of HomePod devices and it wouldn't be surprising if we were to learn that the bulk of the buyers of the device over the last year were hardcore Apple product enthusiasts. More than a year after the original launch, however, there are a number of factors to consider:
1. The number of hardcore Apple enthusiasts who might be interested in HomePod but haven't yet bought one has likely decreased significantly.
2. Apple's HomePod production costs have likely come down as it has gained experience assembling the devices. In other words, manufacturing yield rate has likely improved, and as the manufacturing costs of the components inside come further down their own respective cost curves have improved.
3. Apple hasn't updated the product in over a year.
The first and third factors have probably led to a significant reduction in HomePod sales at the initial launch price, while the second factor should give Apple some flexibility to cut pricing while enjoying the kind of per-device gross margin that it saw with the initial device sales.
With all of this in mind, it's little wonder that the company just cut HomePod prices. The lower price point should make the device more attractive to a broader set of customers and the incremental unit volume should, hopefully, lead to greater overall revenue and gross profit dollars than if the company continued selling the device at the $349 price point.
Apple is undoubtedly hard at work on future generations of HomePod. I expect Apple to roll what it learned from both the successes and failures of the first-generation HomePod into those upcoming products.
Perhaps once Apple introduces a new generation of HomePod, it'll be able to start selling those devices at higher prices. And as long as those devices are compelling enough, Apple might be able to sellmoresuch devices at the higher price points than it was able to with the first-generation HomePod.
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Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: short January 2020 $155 calls on Apple and long January 2020 $150 calls on Apple. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/introducing-syrah-resources-asx-syr-230441730.html | 2019-04-04 23:04:41+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Introducing Syrah Resources (ASX:SYR), The Stock That Slid 63% In The Last Three Years | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
It's nice to see theSyrah Resources Limited(ASX:SYR) share price up 26% in a week. Meanwhile over the lastthreeyears the stock has dropped hard. Regrettably, the share price slid 63% in that period. Some might say the recent bounce is to be expected after such a bad drop. After all, could be that the fall was overdone.
Check out our latest analysis for Syrah Resources
We don't think Syrah Resources's revenue of US$1,207,000 is enough to establish significant demand. This state of affairs suggests that venture capitalists won't provide funds on attractive terms. So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. It seems likely some shareholders believe that Syrah Resources will find or develop a valuable new mine before too long.
We think companies that have neither significant revenues nor profits are pretty high risk. You should be aware that there is always a chance that this sort of company will need to issue more shares to raise money to continue pursuing its business plan. While some 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). Some Syrah Resources investors have already had a taste of the bitterness stocks like this can leave in the mouth.
Syrah Resources had net cash of just US$49m when it last reported (December 2018). So if it hasn't remedied the situation already, it will almost certainly have to raise more capital soon. With that in mind, you can understand why the share price dropped 28% per year, over 3 years. You can see in the image below, how Syrah Resources's cash and debt levels have changed over time (click to see the values).
Of course, the truth is that it is hard to value companies without much revenue or profit. Would it bother you if insiders were selling the stock? I'd like that just about as much as I like to drink milk and fruit juice mixed together. You canclick here to see if there are insiders selling.
Investors in Syrah Resources had a tough year, with a total loss of 56%, against a market gain of about 13%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 17% over the last half decade. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. If you would like to research Syrah Resources in more detail then you might want totake a look at whether insiders have been buying or selling shares in the company.
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/read-buy-cyient-limited-nse-230441597.html | 2019-04-04 23:04:41+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Read This Before You Buy Cyient Limited (NSE:CYIENT) Because Of Its P/E Ratio | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). To keep it practical, we'll show how Cyient Limited's (NSE:CYIENT) P/E ratio could help you assess the value on offer. Based on the last twelve months,Cyient's P/E ratio is 15.66. That corresponds to an earnings yield of approximately 6.4%.
View our latest analysis for Cyient
Theformula for price to earningsis:
Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Or for Cyient:
P/E of 15.66 = ₹583.2 ÷ ₹37.25 (Based on the trailing twelve months to December 2018.)
A higher P/E ratio means that buyers have to paya higher pricefor each ₹1 the company has earned over the last year. That isn't a good or a bad thing on its own, but a high P/E means that buyers have a higher opinion of the business's prospects, relative to stocks with a lower P/E.
Earnings growth rates have a big influence on P/E ratios. When earnings grow, the 'E' increases, over time. Therefore, even if you pay a high multiple of earnings now, that multiple will become lower in the future. A lower P/E should indicate the stock is cheap relative to others -- and that may attract buyers.
Most would be impressed by Cyient earnings growth of 15% in the last year. And its annual EPS growth rate over 5 years is 7.3%. So one might expect an above average P/E ratio.
We can get an indication of market expectations by looking at the P/E ratio. You can see in the image below that the average P/E (15.7) for companies in the software industry is roughly the same as Cyient's P/E.
Cyient's P/E tells us that market participants think its prospects are roughly in line with its industry. If the company has better than average prospects, then the market might be underestimating it. I inform my view byby checking management tenure and remuneration, among other things.
The 'Price' in P/E reflects the market capitalization of the company. Thus, the metric does not reflect cash or debt held by the company. In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth.
Spending on growth might be good or bad a few years later, but the point is that the P/E ratio does not account for the option (or lack thereof).
Since Cyient holds net cash of ₹12b, it can spend on growth, justifying a higher P/E ratio than otherwise.
Cyient's P/E is 15.7 which is about average (16.3) in the IN market. Considering its recent growth, alongside its lack of debt, it would appear that the market isn't very excited about the future. Because analysts are predicting more growth in the future, one might have expected to see a higher P/E ratio.You can take a closer look at the fundamentals, here.
Investors should be looking to buy stocks that the market is wrong about. As value investor Benjamin Graham famously said, 'In the short run, the market is a voting machine but in the long run, it is a weighing machine.' So thisfreevisual report on analyst forecastscould hold the key to an excellent investment decision.
Of courseyou might be able to find a better stock than Cyient. So you may wish to see thisfreecollection of other companies that have grown earnings strongly.
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/tesla-heads-court-shares-fall-133730067.html | 2019-04-04 23:04:59+00:00 | null | null | Associated Press | https://apnews.com/ | Tesla CEO Musk gets reprieve in contempt-of-court hearing | NEW YORK (AP) -- A judge on Thursday urged stock market regulators and Tesla CEO Elon Musk to amicably settle their dispute over his tweets. If not, she said she'll decide whether to grant regulators' request that the outspoken executive face escalating fines if he breaks rules protecting investors. U.S. District Judge Alison J. Nathan asked how she should punish Musk if she finds him in contempt for violating a deal with the Securities and Exchange Commission requiring him to first clear with lawyers tweets that might disclose important company facts. SEC attorney Cheryl Crumpton recommended fines. But at the end of the hearing, Nathan ordered both sides to seek a resolution over the next two weeks. "Everybody take a deep breath, put your reasonableness pants on and work this out," Nathan said. Even so, Nathan said court-supervised agreements must be obeyed. "I don't care if you are a small potato or a big fish," Nathan said as Musk, with an estimated worth of $22 billion, sat at a defense table with his lawyers. Nathan pressed Crumpton during the hearing to define the conditions under which Musk should seek approval before he tweets, and drew attention to ambiguity surrounding the rules the SEC sought to enforce. Musk, who followed the back-and-forth intently with a slight frown and furrowed brow, emerged from the courtroom to say: "I'm very happy with the result and I'm impressed with Judge Nathan's analysis." Legal experts said it makes sense for the two sides to negotiate another settlement rather than to leave the decision to Nathan, although they cautioned it's always difficult to predict what the famously mercurial Musk will do. "The big question is whether he will dig in his heels and resist," said Peter Henning, a Wayne State University law professor and former SEC attorney. "I get the feeling they will come up with something because Musk probably doesn't want to risk being held in contempt of court. That will be like two strikes against him." Story continues Attorney John Hueston, representing Musk, told the judge the SEC had failed to show his client had violated the deal. He said his client was "somebody trying his best to comply." "He actually does what he is told," Hueston said. In a statement after the hearing, Musk signaled he is willing to work out a deal with regulators. "We have always felt that we should be able to work through any disagreements directly with the SEC, rather than prematurely rushing to court," he said. The issue over Musk's tweets stems from a settlement reached last year after Musk tweeted that he had secured the funding to take Tesla private at $420 a share a substantial premium over the price at the time when he did not. That tweet, last August, sent the company's stock on a wild ride. The SEC says it hurt investors who bought Tesla stock after the tweet but before they had accurate information. Musk later backed off the idea of taking the company private, but regulators concluded he had not lined up the money to pull off the deal. The SEC says Musk blatantly violated the settlement in February when he tweeted about Tesla's vehicle production without a lawyer's approval. Musk's 13-word tweet on Feb. 19 said Tesla would produce around 500,000 vehicles this year. But the tweet wasn't approved by Tesla's "disclosure counsel," and the SEC's contempt-of-court motion filed that month said Musk had not sought a lawyer's approval for a single tweet. Musk said his tweet about car production didn't need pre-approval because it wasn't new information that would be meaningful to investors. His attorneys said the SEC was violating his First Amendment rights to free speech. Much of the debate Thursday centered around whether the SEC rules provide a clear way to for Musk to determine whether or not the information he's about to tweet would be material to investors and, therefore, require preapproval from lawyers. "This case is like a shot across the bow from the SEC," said Marc Leaf, a New York lawyer who formerly worked for the agency and advised on its settlement agreements. "What they would like Tesla's board to do is tell Elon, 'You are a genius but your tweets aren't the smartest thing to be doing, so cut it out.'" But Hueston argued further restricting Musk's ability to communicate about his company and imposing fines would "freeze his ability" to operate as an effective entrepreneur. To support his arguments, Hueston cited an earlier exchange between the judge and Crumpton in which Nathan said she was "surprised" that the SEC left it up to Musk in so many instances whether to run by his lawyers what he intended to put out publicly. "Does he need preapproval?" the judge asked Crumpton at one point. "We're not saying 'yes' or 'no,'" she responded. Hueston said the SEC's first step after the tweet about production should have been to approach Tesla in good faith, and Nathan agreed. "The parties should be meeting, conferring and providing some clarity so this issue won't happen again," Hueston said. The SEC says its deal doesn't restrict Musk's freedom of speech because as long as his statements are not false or misleading, they would be approved. Meanwhile, Tesla's shares fell 8% Thursday after the company disclosed that both its car manufacturing pace and vehicle delivery rate slowed during the first three months of the year, raising questions about its ability to be consistently profitable. The SEC sought to oust Musk from his role as chairman and CEO over his August tweet. Instead, Musk and Tesla agreed to pay $40 million and made other concessions to settle the case and ensure Musk remained CEO. Musk's unpredictable behavior has led some to question whether he should remain in that job, while others say he's a visionary too valuable to lose. Last year, Musk berated stock market analysts for asking questions about Tesla's finances and prompted a defamation lawsuit when he called a diver who helped rescue 12 boys on a Thai soccer team from a flooded cave a pedophile. ___ Associated Press Writers Larry Neumeister and Michael Liedtke in San Ramon, California, contributed to this report. |
https://finance.yahoo.com/news/does-sitoy-group-holdings-limited-230912989.html | 2019-04-04 23:09:12+00:00 | null | null | Simply Wall St. | https://simplywall.st/ | Does Sitoy Group Holdings Limited (HKG:1023) Have A Good P/E Ratio? | Want to participate in a research study ? Help shape the future of investing tools and earn a $60 gift card! The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). To keep it practical, we'll show how Sitoy Group Holdings Limited's ( HKG:1023 ) P/E ratio could help you assess the value on offer. Sitoy Group Holdings has a price to earnings ratio of 7.81 , based on the last twelve months. That means that at current prices, buyers pay HK$7.81 for every HK$1 in trailing yearly profits. See our latest analysis for Sitoy Group Holdings 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 Sitoy Group Holdings: P/E of 7.81 = HK$1.79 ÷ HK$0.23 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? A higher P/E ratio implies that investors pay a higher price for the earning power of the business. That isn't a good or a bad thing on its own, but a high P/E means that buyers have a higher opinion of the business's prospects, relative to stocks with a lower P/E. How Growth Rates Impact P/E Ratios If earnings fall then in the future the 'E' will be lower. Therefore, even if you pay a low multiple of earnings now, that multiple will become higher in the future. So while a stock may look cheap based on past earnings, it could be expensive based on future earnings. Sitoy Group Holdings's earnings per share fell by 4.2% in the last twelve months. And over the longer term (5 years) earnings per share have decreased 18% annually. So it would be surprising to see a high P/E. How Does Sitoy Group Holdings's P/E Ratio Compare To Its Peers? The P/E ratio essentially measures market expectations of a company. The image below shows that Sitoy Group Holdings has a lower P/E than the average (10.3) P/E for companies in the luxury industry. SEHK:1023 Price Estimation Relative to Market, April 4th 2019 Sitoy Group Holdings's P/E tells us that market participants think it will not fare as well as its peers in the same industry. While current expectations are low, the stock could be undervalued if the situation is better than the market assumes. It is arguably worth checking if insiders are buying shares , because that might imply they believe the stock is undervalued. Don't Forget: The P/E Does Not Account For Debt or Bank Deposits The 'Price' in P/E reflects the market capitalization of the company. That means it doesn't take debt or cash into account. Hypothetically, a company could reduce its future P/E ratio by spending its cash (or taking on debt) to achieve higher earnings. Story continues 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. How Does Sitoy Group Holdings's Debt Impact Its P/E Ratio? Sitoy Group Holdings has net cash of HK$240m. 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 Sitoy Group Holdings's P/E Ratio Sitoy Group Holdings trades on a P/E ratio of 7.8, which is below the HK market average of 12.2. The recent drop in earnings per share would almost certainly temper expectations, the relatively strong balance sheet will allow the company time to invest in growth. If it achieves that, then there's real potential that the low P/E could eventually indicate undervaluation. Investors should be looking to buy stocks that the market is wrong about. As value investor Benjamin Graham famously said, 'In the short run, the market is a voting machine but in the long run, it is a weighing machine.' Although we don't have analyst forecasts, you might want to assess this data-rich visualization of earnings, revenue and cash flow. Of course you might be able to find a better stock than Sitoy Group Holdings . So you may wish to see this free collection of other companies that have grown earnings strongly. 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. View comments |
https://finance.yahoo.com/news/uk-government-opposition-meet-search-brexit-plan-081018667.html | 2019-04-04 23:09:51+00:00 | null | null | Associated Press | https://apnews.com/ | UK government, opposition search for a Brexit plan | LONDON (AP) — The British government and senior opposition figures tried Thursday to overcome intractable differences and forge a new plan for departing the European Union, as the bloc warned of dire consequences if the U.K. leaves the EU without an agreement next week. Prime Minister Theresa May was trying to avert a chaotic "no-deal" Brexit — and also tamp down divisions within her Conservative Party inflamed by her shift toward compromise. May faced fury from anti-EU Conservatives after she agreed to talks with Labour Party leader Jeremy Corbyn, who favors a softer form of Brexit than the plan advocated by the government. Two junior ministers have resigned, and more could follow. Senior government and Labour officials held four and a half hours of talks Thursday, after an initial two-hour session between May and Corbyn the day before. Both sides gave little away about what progress was made, but said the talks would continue Friday. Treasury chief Philip Hammond said both parties needed to be flexible to break the Brexit impasse. "When you enter into a negotiation like this to find a compromise way forward, both parties have to give something up," he told broadcaster ITV. "There is going to be pain on both sides." The political paralysis over Brexit has left Britain facing a possible chaotic departure from the EU in just over a week. After U.K. lawmakers three times rejected May's agreement with the bloc that was struck late last year, the EU gave Britain until April 12 to approve a withdrawal plan, change course and seek a further delay to Brexit, or crash out of the EU with no deal to cushion the shock. Economists and business leaders warn that a no-deal Brexit would lead to huge disruptions in trade and travel, with tariffs and customs checks causing gridlock at British ports and possible shortages of goods. "Let there be no doubt whatsoever: A no-deal scenario would be extremely costly and disruptive," said European Commission Vice President Jyrki Katainen, who warned "a no-deal scenario is highly likely." Worries about a no-deal Brexit are especially acute in Ireland, the only EU member state to share a land border with the U.K. Any customs checks or other obstacles along the currently invisible frontier would hammer the Irish economy, and could undermine Northern Ireland's peace process. Irish Prime Minister Leo Varadkar visited the border area Thursday with German Chancellor Angela Merkel, meeting residents and businesses who would face disruption from the return of a hard border. They also met victims of Northern Ireland's decades of violence. Story continues Speaking later in Dublin, Varadkar said the EU was determined to prevent the return of a hard border in the event of a disorderly Brexit. But he acknowledged that because of all the uncertainty, "it's not possible, quite frankly, to have a clear plan." Merkel added: "I'll simply say we have to succeed. Where there's a will, there's a way." It was unclear whether the cross-party talks in London would produce a breakthrough. They are risky for both the Conservatives and Labour, with each party split down the middle over Brexit. Labour is formally committed to enacting the voters' decision to leave the EU, but many of its lawmakers want a new referendum that could keep Britain in the bloc. They will be angry if the party actively helps bring about the U.K.'s departure. Others in the party — especially those from areas that voted strongly to leave the EU — are adamant Brexit must not be halted. Pro-Brexit Conservatives, meanwhile, are angry at the prospect of a softer Brexit that keeps Britain bound closely to EU trade rules and standards. Meanwhile, British lawmakers desperate to avoid a chaotic exit have seized control of the parliamentary agenda to pass a hastily drafted bill that compels May to ask for an extension to the Brexit deadline if a no-deal departure is looming. The bill was approved by the House of Commons late Wednesday by a single vote and moved Thursday to Parliament's upper chamber, the House of Lords, where anti-EU politicians tried to use delaying tactics to slow its progress. Despite the opposition, most members of the Lords are pro-EU. It's likely they will approve the bill and it will become law by early next week. May will then have to go to a special EU Brexit summit in Brussels on April 10 to seek a delay. The EU is not compelled to agree. Leaders of the bloc, exasperated by the chaos in London, say they will only grant a delay if Britain comes up with a workable plan. French President Emmanuel Macron, one of the leaders most resistant to a further Brexit extension, has warned that the bloc can't be held "hostage" to Britain's crisis. With British passions running high both inside and outside Parliament, police warned politicians to tone down their rhetoric. Martin Hewitt, chairman of the National Police Chiefs' Council, said the mood was "incredibly febrile." He said individuals with a public platform had a responsibility to speak in a way "that is temperate and is not in any way going to inflame people's views." The crisis has produced a week of high — and sometimes surreal — drama in Parliament. On Monday, climate change protesters stripped almost naked in the public gallery as lawmakers debated Brexit. On Wednesday, a vote in the House of Commons ended in a tie, for the first time in a quarter of a century. And on Thursday, debate in the Commons was suspended after water from a leak began pouring through the ceiling into the chamber below. Lawmakers were later sent home for the day as maintenance staff assessed the damage. ___ Associated Press writers Gregory Katz in London, Frank Jordans in Berlin and Lorne Cook in Brussels contributed. ___ Follow AP's full coverage of Brexit at: https://www.apnews.com/Brexit View comments |
https://finance.yahoo.com/news/glaring-us-absences-raise-questions-relevance-g-7-062628303.html | 2019-04-04 23:12:37+00:00 | null | null | Associated Press | https://apnews.com/ | Glaring US absences raise questions about relevance of G-7 | PARIS (AP) Two key American officials U.S. Secretary of State Mike Pompeo and Homeland Security Secretary Kirstjen Nielsen are skipping meetings in France this week as the Group of Seven countries gather to try to find solutions to world security challenges. The move raises questions about the G-7's effectiveness at solving some of the international issues it has deemed crucial, including fighting terrorism and human trafficking. A lunch focusing on migration issues and human trafficking kicked off the G-7 interior ministers' meetings Thursday in Paris. France, which took over the G-7's presidency in January, is hosting the two-day meeting, which overlaps with a summit of G-7 foreign ministers Friday and Saturday in the French Atlantic resort of Dinard. U.S. President Donald Trump has made no secret of his disdain for the G-7, especially since Russia was pushed out of the gathering of major world economies after its annexation of Crimea in 2014. In addition to the U.S., the G-7 includes France, Canada, Japan, Germany, Italy and the U.K. Pompeo is in Washington this week, far from French shores, hosting NATO's foreign ministers to mark the alliance's 70th anniversary. Nielsen is staying behind to deal with domestic border issues. Canadian Foreign Minister Chrystia Freeland, meanwhile, announced she is attending both the NATO meeting in Washington and the G-7 summit in Dinard. Still, alliances are fraying everywhere, even at NATO as Pompeo shines a spotlight on America's involvement in the military alliance. NATO Secretary-General Jens Stoltenberg acknowledged internal NATO disagreements this week on trade, climate change and the Iran nuclear deal, but insisted the 29 allies are united in their commitment to defend each other. U.S. Homeland Security official Claire Grady is standing in for Nielsen at the interior ministers' meetings and Deputy Secretary of State John J. Sullivan will stand in for Pompeo. Story continues Sullivan will discuss "a broad range of issues, including the deteriorating situation in Venezuela, destabilizing Iranian behavior in the Middle East, the responsible conduct of states in cyberspace, and the final denuclearization of North Korea," the State Department said. It said these conversations will "set the stage" for the August 25-27 G-7 summit that France will host in the southwestern city of Biarritz. Last June, Trump roiled the G-7 meeting in Canada by first agreeing to a group statement on trade only to withdraw from it while complaining that he had been blindsided by Canadian Prime Minister Justin Trudeau's criticism of Trump's tariff threats. In an extraordinary set of tweets, Trump threw the G-7 summit into disarray. France's Foreign Ministry listed the main issues under discussion this week as cybersecurity, the trafficking of drugs, arms and migrants in Africa's troubled Sahel region, and fighting gender inequality. That includes ways to prevent rape and violence against women, especially in Africa. Thursday's discussions focused on how to deal with citizens who have joined Islamic State militants in Syria and Iraq, as well as their wives and children. Many IS fighters have been captured and imprisoned in those countries. The problem has grown more urgent since Trump announced his intention to reduce the U.S. military presence in Syria. The U.S. has called for countries to take back their citizens and put them on trial, if necessary, but Western countries have largely refused to do so. France says French fighters must be tried wherever they committed their crimes. The G-7 interior ministers also discussed ways to fight terrorism and extremism on the internet possibly by imposing more regulations on internet giants in the presence of representatives of Facebook, Twitter, Google and Microsoft. "The most important advance is that we are working even more closely together in fighting international terrorism," said German Interior Minister Horst Seehofer. "The second is that we need to have a robust set of rules on migration flows, for they will continue to concern us for years to come." Matteo Salvini, Italy's hard-line interior minister, said Italy and France were seeking an agreement on protecting Europe's external borders. He also said Europe needs to review trade agreements with African countries that do not cooperate in controlling migrant flows or repatriating migrants from those countries. "If the Italy-France, Rome-Paris axis moves together, it will be a positive and absolute novelty," he said. But Salvini, leader of Italy's anti-migrant League party, still showed that he had sharp differences with centrist French President Emmanuel Macron's migration policies. He said the two countries should be able to work more closely together on migration issues after the EU Parliament elections in May, where Salvini backs Macron's far-right rival, Marine Le Pen. ___ Matthew Lee in Washington and Vanessa Gera in Warsaw, Poland contributed. |
https://finance.yahoo.com/news/huabao-international-holdings-limited-hkg-231346578.html | 2019-04-04 23:13:46+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Is Huabao International Holdings Limited (HKG:336) A Great Dividend Stock? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. Historically, Huabao International Holdings Limited (HKG:336) has paid a dividend to shareholders. It currently yields 9.6%. Should it have a place in your portfolio? Let's take a look at Huabao International Holdings in more detail.
See our latest analysis for Huabao International Holdings
If you are a dividend investor, you should always assess these five key metrics:
• Is it the top 25% annual dividend yield payer?
• Has it paid dividend every year without dramatically reducing payout in the past?
• Has dividend per share amount increased over the past?
• Does earnings amply cover its dividend payments?
• Will the company be able to keep paying dividend based on the future earnings growth?
The company currently pays out 58% of its earnings as a dividend, according to its trailing twelve-month data, 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.
When thinking about whether a dividend is sustainable,another factor to consider is the cash flow. A company with strong cash flow, relative to earnings, can sometimes sustain a high pay out ratio.
If there's one type of stock you want to be reliable, it's dividend stocks and their stable income-generating ability. Whilst its per-share payments have increased during the past 10 years, there has been some hiccups. Shareholders would have seen a few years of reduced payments in this time.
In terms of its peers, Huabao International Holdings produces a yield of 9.6%, which is high for Chemicals stocks.
Taking into account the dividend metrics, Huabao International Holdings ticks most of the boxes as a strong dividend investment, putting it in my list of top dividend payers. Given that this is purely a dividend analysis, I recommend taking sufficient time to understand its core business and determine whether the company and its investment properties suit your overall goals. There are three fundamental factors you should further research:
1. Future Outlook: What are well-informed industry analysts predicting for 336’s future growth? Take a look at ourfree research report of analyst consensusfor 336’s outlook.
2. Valuation: What is 336 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 336 is currently mispriced by the market.
3. Other 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/russia-stakes-hold-arctic-revamps-151436915.html | 2019-04-04 23:15:57+00:00 | null | null | Associated Press | https://apnews.com/ | Russia revamps Arctic military base to stake claim on region | SEVERNY KLEVER MILITARY BASE, Russia (AP) Missile launchers ply icy roads and air defense systems point menacingly into the sky at this Arctic military outpost, a key vantage point for Russia to project its power over the resource-rich polar region. The base, dubbed Severny Klever (Northern Clover) for its trefoil shape, is painted in the white, blue and red colors of the Russian national flag. It has been designed so soldiers can reach all of its sprawling facilities without venturing outdoors a useful precaution in an area where temperatures often plunge to minus 50 Celsius (minus 58 Fahrenheit) during the winter, and even in the short Arctic summer are often freezing at night. It's strategically located on Kotelny Island, between the Laptev Sea and the East Siberian Sea on the Arctic shipping route, and permanently houses up to 250 military personnel responsible for maintaining air and sea surveillance facilities and coastal defenses like anti-ship missiles. The Russian base has enough supplies to remain fully autonomous for more than a year. "Our task is to monitor the airspace and the northern sea route," said base commander Lt. Col. Vladimir Pasechnik. "We have all we need for our service and comfortable living." Russia is not alone in trying to assert jurisdiction over parts of the Arctic, as shrinking polar ice opens fresh opportunities for resource exploration and new shipping lanes. The United States, Canada, Denmark and Norway are jostling for position, as well, and China also has shown an increasing interest in the polar region. But while U.S. President Donald Trump's administration has seen the Arctic through the lens of security and economic competition with Russia and China, it has yet to demonstrate that the region is a significant priority in its overall foreign policy. The post of special U.S. representative for the Arctic has remained vacant since Trump assumed office. Russia, however, has made reaffirming its presence in the Arctic a top goal, not the least because the region is believed to hold up to one-quarter of the Earth's undiscovered oil and gas. Russian President Vladimir Putin has cited estimates that put the value of Arctic mineral riches at $30 trillion. The move has alarmed Russia's neighbors, analysts say. "In Russia, the Northern sea route has been described as a bonanza with lots of potential of economic development," said Flemming Splidsboel Hansen of the Danish Institute for International Studies. "And that's why there is a need for military capacity in the area. It is likely meant as defensive, but it is being interpreted by the West as offensive." Story continues Kristian Soeby Kristensen, a researcher at Copenhagen University in Denmark, said the problem of Russian hegemony in the Arctic was most obvious to Norway. "Norway is a small country, whose next-door neighbor is mighty Russia, which has placed the bulk of its military capacity right next to them," Soeby Kristensen said. "Norway is extraordinarily worried." In 2015, Russia submitted to the United Nations a revised bid for vast territories in the Arctic. It claimed 1.2 million square kilometers (over 463,000 square miles) of Arctic sea shelf, extending more than 350 nautical miles (about 650 kilometers) from the shore. As part of a multi-pronged effort to stake Russia's claims on the Arctic region, the Kremlin has poured massive resources into modernizing Soviet-era installations there. The military outpost on Kotelny Island fell into neglect after the 1991 collapse of the Soviet Union, but a massive effort to build a new base began in 2014 and took several years. A group of reporters brought to the island by the Russian Defense Ministry on Wednesday were shown Bastion anti-ship missile launchers positioned for a drill near the shore and Pantsyr-S1 air defense systems firing shots at a practice target. The Russian military has kept Western media from visiting its Arctic facilities, so the trip offered a unique opportunity to watch the Russian expansion up close. A big radar dome looms on a hill overlooking the coast, underlining the base's main mission of monitoring the strategic area. In contrast with drab, Soviet-era facilities, the pristine new base features spacious living quarters, a gym and a sauna. Putin's words about the importance of the Arctic for Russia dot the base's walls and a symbolic border post sits in a hallway. Soldiers at the base say they are proud of their mission despite the challenging Arctic environment. "Proving to myself that I can do it raises my self-esteem," said one of the soldiers, Sergei Belogov. "Weather is our enemy here, so we need to protect ourselves from it to serve the Motherland." Extreme cold and fierce winds often make it hard to venture outside, and even winterized vehicles may have trouble operating when temperatures plunge to extreme lows and even special lubricants freeze. Russian Defense Minister Sergei Shoigu reported to Putin in December that the military has rebuilt or expanded numerous facilities across the polar region, revamping runways and deploying air defense assets. He said renovation works were conducted on a long string of Arctic territories. The expanded infrastructure has allowed the Russian military to restore full radar coverage of the nation's 22,600-kilometer (14,000-mile) Arctic frontier and deploy fighter jets to protect its airspace. The military also has undertaken a cleanup effort across the region, working to remove tens of thousands of tons of waste from the Arctic territories, most of it rusty fuel tanks left behind by the Soviet military. The Russian soldiers share the island with polar bears, arctic foxes and wolves. Officers said that, soon after the base opened, curious bears regularly prowled near its walls, sometimes even peering into its windows. On some occasions, soldiers had to use a truck to spook away a particularly curious bear wandering nearby. Soldiers interviewed at the base said they marveled at the area's wildlife and its majestic Arctic landscapes. "The nature here is extremely beautiful," said Navy Lt. Umar Erkenov, who came from southern Russia. "Meeting a polar bear is an experience that fills you with emotions. We have established friendly ties with them from the start. We don't touch them, they don't touch us." He said he's missing his wife and daughter, whom he can only see during his leave period once a year, but is proud of his mission. "Few people do their job under such conditions," he said. "I feel proud that I'm here with my unit, doing my duty and protecting the Motherland." ___ Matthew Lee in Washington, D.C. and Jan M. Olsen in Copenhagen, Denmark contributed to this report. View comments |
https://finance.yahoo.com/news/does-market-volatility-impact-impelus-231812255.html | 2019-04-04 23:18:12+00:00 | null | null | Simply Wall St. | https://simplywall.st/ | Does Market Volatility Impact Impelus Limited's (ASX:IMS) Share Price? | Want to participate in a research study ? Help shape the future of investing tools and earn a $60 gift card! If you own shares in Impelus Limited ( ASX:IMS ) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. In finance, Beta is a measure of volatility. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. The first type is company specific volatility. Investors use diversification across uncorrelated stocks to reduce this kind of price volatility across the portfolio. The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. Beta is a widely used metric to measure a stock's exposure to market risk (volatility). Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. The first thing to understand about beta is that the beta of the overall market is one. A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price. Check out our latest analysis for Impelus What we can learn from IMS's beta value Looking at the last five years, Impelus has a beta of 1.53. The fact that this is well above 1 indicates that its share price movements have shown sensitivity to overall market volatility. If this beta value holds true in the future, Impelus shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down. Beta is worth considering, but it's also important to consider whether Impelus is growing earnings and revenue. You can take a look for yourself, below. Story continues ASX:IMS Income Statement, April 4th 2019 How does IMS's size impact its beta? Impelus is a noticeably small company, with a market capitalisation of AU$7.4m. Most companies this size are not always actively traded. Relatively few investors can influence the price of a smaller company, compared to a large company. This could explain the high beta value, in this case. What this means for you: Since Impelus tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock. In order to fully understand whether IMS is a good investment for you, we also need to consider important company-specific fundamentals such as Impelus’s financial health and performance track record. I urge you to continue your research by taking a look at the following: Future Outlook : What are well-informed industry analysts predicting for IMS’s future growth? Take a look at our free research report of analyst consensus for IMS’s outlook. Past Track Record : Has IMS been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look at the free visual representations of IMS's historicals for more clarity. Other Interesting Stocks : It's worth checking to see how IMS measures up against other companies on valuation. You could start with this free list of prospective options . We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. If you spot an error that warrants correction, please contact the editor 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/income-investor-dont-miss-china-231814224.html | 2019-04-04 23:18:14+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Are You An Income Investor? Don't Miss Out On China Telecom Corporation Limited (HKG:728) | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
Over the past 10 years China Telecom Corporation Limited (HKG:728) has been paying dividends to shareholders. The company currently pays out a dividend yield of 2.9% to shareholders, making it a relatively attractive dividend stock. Let's dig deeper into whether China Telecom should have a place in your portfolio.
Check out our latest analysis for China Telecom
When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:
• Is their annual yield among the top 25% of dividend payers?
• Has its dividend been stable over the past (i.e. no missed payments or significant payout cuts)?
• Has dividend per share risen in the past couple of years?
• Can it afford to pay the current rate of dividends from its earnings?
• Will it be able to continue to payout at the current rate in the future?
The current trailing twelve-month payout ratio for the stock is 42%, meaning the dividend is sufficiently covered by earnings. Going forward, analysts expect 728's payout to remain around the same level at 40% of its earnings. Assuming a constant share price, this equates to a dividend yield of 3.3%. In addition to this, EPS should increase to CN¥0.28.
When assessing the forecast sustainability of a dividendit is also worth considering the cash flow of the business. Companies with strong cash flow can sustain a higher payout ratio, while companies with weaker cash flow generally cannot.
If there's one type of stock you want to be reliable, it's dividend stocks and their stable income-generating ability. 728 has increased its DPS from CN¥0.075 to CN¥0.11 in the past 10 years. It has also been paying out dividend consistently during this time, as you'd expect for a company increasing its dividend levels. These are all positive signs of a great, reliable dividend stock.
Relative to peers, China Telecom generates a yield of 2.9%, which is high for Telecom stocks but still below the market's top dividend payers.
Taking into account the dividend metrics, China Telecom ticks most of the boxes as a strong dividend investment, putting it in my list of top dividend payers. Given that this is purely a dividend analysis, you should always research extensively before deciding whether or not a stock is an appropriate investment for you. I always recommend analysing the company's fundamentals and underlying business before making an investment decision. I've put together three key factors you should further research:
1. Future Outlook: What are well-informed industry analysts predicting for 728’s future growth? Take a look at ourfree research report of analyst consensusfor 728’s outlook.
2. Valuation: What is 728 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 728 is currently mispriced by the market.
3. Other 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/man-suspected-shooting-nipsey-hussle-charged-murder-201625429.html | 2019-04-04 23:18:41+00:00 | null | null | Associated Press | https://apnews.com/ | Man charged with killing Nipsey Hussle pleads not guilty | LOS ANGELES (AP) — The man charged with killing rapper Nipsey Hussle was ordered held on $5 million bail after pleading not guilty Thursday to murder and attempted murder charges. Eric R. Holder Jr., 29, making his first court appearance after Sunday's shooting and subsequent two-day manhunt, spoke only to say "yeah" to Los Angeles Superior Court Judge Teresa Sullivan's questions. His attorney, Christopher Darden, did not dispute the bail amount, which the prosecution requested. Darden declined comment after the hearing. Holder is charged with murder and two counts of attempted murder in connection with the attack outside Hussle's The Marathon clothing store on Sunday that left the rapper dead and two other men wounded. No additional details about motive were released during Thursday's hearing. Darden, who gained nationwide fame as part of the prosecution team at O.J. Simpson's 1995 murder trial, argued before the hearing against allowing media outlets to shoot photos and video in the courtroom, saying that the prosecution has not established with certainty that they have the right person, and publicizing his image would interfere with Holder getting a fair trial. "The issue of identity is still in question," Darden said. Deputy District Attorney John McKinney argued that identity will not be an issue in the case, and said that Holder's photo had already been widely spread during the hunt for him. Sullivan ruled that the cameras could remain. Holder and Hussle, who knew each other, had several conversations throughout the day Sunday before Holder eventually returned with a handgun and shot Hussle, authorities allege. If convicted, Holder faces life in prison. In 2012 he pleaded no contest to possession of a loaded firearm and was sentenced to six months in jail and three years' probation. The case filed Thursday includes a charge that he was a felon in possession of a gun during the attack on Hussle. Story continues He was ordered to return to court for another hearing May 10. Holder fled the scene in a car driven by a woman who has since been interviewed by police and released, police Lt. Chris Ramirez said. Hussle, 33, was engaged to actress Lauren London, with whom he had a 2-year-old son. He had another daughter from a previous relationship. He was a beloved figure in the community that he was seeking to rebuild starting with his clothing store, among his fellow entertainers, and with public officials who praised his philanthropy and advocacy. Hussle had success in hip-hop's inner circles for 10 years through his coveted mixtapes, then last year broke big with his major-label debut album, "Victory Lap," which was nominated for a Grammy. The California State Senate adjourned in his honor on Thursday. "He was a manifestation, from my perspective, of the American dream, even the California dream," said Sen. Holly Mitchell, a Democrat from Los Angeles. "He represents a new generation of entertainer turned activist turned entrepreneur," she said, noting his activism on police brutality and gun violence. Congresswoman Karen Bass said she planned to honor Hussle on the floor of the U.S. House of Representatives. "I will be heading to the House Floor next week to formally enter Nipsey Hussle's contributions to South Los Angeles into the Congressional Record where it will be a part of United States history forever," Bass tweeted. ___ Follow AP Entertainment Writer Andrew Dalton on Twitter: https://twitter.com/andyjamesdalton . |
https://finance.yahoo.com/news/jeff-bezos-retain-75-percent-couples-amazon-stake-174642419--finance.html | 2019-04-04 23:22:43+00:00 | [] | By Jeffrey Dastin and Arjun Panchadar | Reuters | https://www.reuters.com/ | Jeff Bezos keeps Amazon voting power in divorce settlement | By Jeffrey Dastin and Arjun Panchadar
(Reuters) - Amazon.com Inc Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online retailer.
The world's richest couple had announced their impending divorce in a joint Twitter statement in January, causing some to worry that Jeff Bezos could wind up with less Amazon voting power or that he or MacKenzie would liquidate large positions.
“It takes the issue off the table, with less turbulence than you might have expected,” said an investor, whose company owns several million dollars worth of Amazon shares but who asked for anonymity because of a firm policy.
MacKenzie Bezos will wind up with a stake in Amazon that is worth roughly $36 billion. Her shares represent a 4 percent stake in Amazon, according to a regulatory filing by the company. The Amazon shares will make her the world's third-richest woman while Jeff Bezos will remain the world's richest person, according to Forbes.
The Bezos tweeted separately on Thursday that under their settlement MacKenzie will give up her interests in the Washington Post, which Jeff Bezos bought in 2013 and which has been a frequent target of criticism from U.S. President Donald Trump, and the rocket company Blue Origin he founded in 2000.
"Grateful to have finished the process of dissolving my marriage with Jeff," MacKenzie Bezos said in her tweet outlining the divorce settlement, the first and only post from an account created this month.
The two did not provide any further financial details about the settlement.
"INFLUENCE WOULD BE THE SAME"
Amazon, the world's biggest online retailer, said in the filing that 4 percent of its outstanding shares would be registered in MacKenzie Bezos' name after court approval of the divorce, which is expected to occur in about 90 days.
Jeff Bezos, whom Amazon listed in its most recent proxy statement as its single largest shareholder with a 16.3 percent stake, will keep sole voting authority over the shares unless MacKenzie donates them to a nonprofit or sells them in the open market.
Amazon shares closed down 0.1 percent at $1,818.86.
Jeff Bezos, 55, is seen as essential to Amazon's meteoric growth and stock price rise since he founded the company as an online bookseller in 1994. He has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon.
"When I think about Amazon, and the influence Bezos has on Amazon, I would argue his influence would be the same if he had 51 percent shares outstanding or 1 percent. I think his influence is dictated by his vision for Amazon," D.A. Davidson analyst Tom Forte said.
MacKenzie Bezos' stake in Amazon is worth more than the market values of nearly 70 percent of the components of the S&P 500.
The settlement also suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts, even though the divorce had jolted the once-private Bezos couple into the public spotlight.
Jeff Bezos re-tweeted MacKenzie's statement and added in a separate post that he was grateful "for her support and for her kindness in this process."
Liat Sadler, a San Francisco matrimonial lawyer, said the settlement should put investors at ease.
“They’ve done a lot of work behind the scenes to make their breakup as amicable as it seems,” she said. Still, Sadler added, “Without knowing what cash she received, I have no idea how favorable it was to him or not."
The day they announced their separation on Twitter, the National Enquirer promised to reveal an affair it claimed had ended their marriage, contrary to the couple's statement that they were on a "long period of loving exploration and trial separation."
The U.S. tabloid then published alleged photos and intimate text messages between Bezos and his new partner, former television news anchor Lauren Sanchez.
(Reporting by Jeffrey Dastin in San Francisco and Arjun Panchadar in Bengaluru; Writing by Meredith Mazzilli; editing by Nick Zieminski, Bill Berkrot and Leslie Adler) |
https://finance.yahoo.com/news/sinopec-shanghai-petrochemical-company-limiteds-232247829.html | 2019-04-04 23:22:47+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Will Sinopec Shanghai Petrochemical Company Limited's (HKG:338) Earnings Grow In The Next 12 Months? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
On 31 December 2018, Sinopec Shanghai Petrochemical Company Limited (HKG:338) released its earnings update. Generally, analysts seem cautiously bearish, with earnings expected to grow by 3.6% in the upcoming year compared with the higher past 5-year average growth rate of 36%. With trailing-twelve-month net income at current levels of CN¥5.3b, we should see this rise to CN¥5.5b in 2020. Below is a brief commentary around Sinopec Shanghai Petrochemical's earnings outlook going forward, which may give you a sense of market sentiment for the company. Investors wanting to learn more about other aspects of the company shouldresearch its fundamentals here.
See our latest analysis for Sinopec Shanghai Petrochemical
The longer term expectations from the 10 analysts of 338 is tilted towards the negative sentiment. Broker analysts tend to forecast up to three years ahead due to a lack of clarity around the business trajectory beyond this. To understand the overall trajectory of 338's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope.
This results in an annual growth rate of -2.2% based on the most recent earnings level of CN¥5.3b to the final forecast of CN¥5.3b by 2022. EPS reaches CN¥0.39 in the final year of forecast compared to the current CN¥0.49 EPS today. The main reason for 338’s earnings contraction is cost growth exceeding top-line growth of 0.3% in the next three years. With this high cost growth, margins is expected to contract from 4.9% to 4.8% by the end of 2022.
Future outlook is only one aspect when you're building an investment case for a stock. For Sinopec Shanghai Petrochemical, there are three pertinent aspects you should look at:
1. Financial Health: Does it have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk.
2. Valuation: What is Sinopec Shanghai Petrochemical 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 Sinopec Shanghai Petrochemical is currently mispriced by the market.
3. Other High-Growth Alternatives: Are there other high-growth stocks you could be holding instead of Sinopec Shanghai Petrochemical? Exploreour interactive list of stocks with large growth 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/ozzy-osbourne-cancels-2019-live-232258364.html | 2019-04-04 23:22:58+00:00 | null | null | Entertainment Tonight | http://www.etonline.com/ | Ozzy Osbourne Cancels All 2019 Live Shows Following Fall: 'I Will Be Back!' | Metal music’s Prince of Darkness is pressing pause on some upcoming live engagements. On Thursday morning, Ozzy Osbourne 's team announced on social media that, due to a fall at his Los Angeles home, as well as a bout with pneumonia, the singer will be pushing back all the scheduled dates of his No More Tours 2 tour this year. "OZZY will postpone all his tour dates as he recovers from injury sustained while dealing with pneumonia," a statement on Twitter reads. "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." Osbourne himself says in an Instagram post: "I can’t believe I have to reschedule more tour dates. Words cannot express how frustrated, angry and depressed I am not to be able to tour right now." View this post on Instagram OZZY will postpone all his 2019 tour dates, inclusive of shows in North America and Europe, as he recovers from an injury sustained while dealing with his recent bout of pneumonia. The Rock and Roll Hall of Fame inductee and Grammy®-winning singer and songwriter and 2019 Grammy® Special Merit Award recipient fell at his Los Angeles home aggravating years-old injuries (from his 2003 ATV accident) that required surgery last month. OSBOURNE will remain under doctor’s care in Los Angeles as he recovers. Says OZZY: “I can’t believe I have to reschedule more tour dates. Words cannot express how frustrated, angry and depressed I am not to be able to tour right now. I’m grateful for the love and support I’m getting from my family, my band, friends and fans, it’s really what’s keeping me going. Just know that I am getting better every day…I will fully recover…I will finish my tour…I will be back!” The shows will be rescheduled beginning in February 2020 and concert-goers are being asked to hold onto their original tickets, as they will be honored for the rescheduled dates. Because some of the 2019 dates were festival appearances, not all will be rescheduled. Below are the new North American dates; the Los Angeles Hollywood Bowl show will be rescheduled in July 2020, exact date TBA. The 2020 UK and European dates will be announced in the coming weeks. A post shared by Ozzy Osbourne (@ozzyosbourne) on Apr 4, 2019 at 8:02am PDT "I’m grateful for the love and support I’m getting from my family, my band, friends and fans, it’s really what’s keeping me going," he adds. "Just know that I am getting better every day…I will fully recover…I will finish my tour…I will be back!" The legendary rocker, 70, has been battling a number of health issues in recent months. Last October, he was forced to undergo hand surgery to treat an infection. Then, in February, he was hospitalized due to complications from the flu . And just one week prior, he had postponed the European dates of his No More Tours 2 tour due to illness. Story continues View this post on Instagram Sat Oct 6 show at @ShorelineAmphitheatre in Mountain View, CA has being postponed due to illness. The Rock and Roll Hall of Fame inductee and Grammy®-winning singer and songwriter is being treated for an infection, which required surgery on his hand this morning (Saturday, October 6). OSBOURNE will spend a couple of days at Cedars-Sinai in Los Angeles where he’ll remain under doctor’s care as they monitor the infection. The show is part of OZZY’s North American “NO MORE TOURS 2,” produced by @LiveNation, and is expected to resume on Tues, October 9 at @MattressFirmAmp in Chula Vista before this leg of the tour wraps with shows at the @HollywoodBowl (October 11) in Los Angeles and Las Vegas (October 13) at the @MGMGrand Garden Arena. @StoneSour will perform on these three shows. The Oct 6 show has been rescheduled for Tuesday, Oct 16 (support act for the new date is TBA). Ticketholders for the October 6 show should hold on to their tickets, as they will be honored at the rescheduled date on October 16. Refunds are also available at point of purchase. A post shared by Ozzy Osbourne (@ozzyosbourne) on Oct 6, 2018 at 2:03pm PDT RELATED CONTENT: Ozzy Osbourne Hospitalized Following 'Complications From the Flu' Ozzy Osbourne Postpones U.K. and European Leg of Tour Due to Illness Ozzy Osbourne Shares Hospital Photos After Suffering an Infection That Requires Hand Surgery Related Articles: Hollywood's Best Bikini Bods Over 40 Biggest Celebrity Breakups of 2019 -- So Far! Celebrities in Their Underwear |
https://finance.yahoo.com/news/fit-hon-teng-limiteds-hkg-232716165.html | 2019-04-04 23:27:16+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Is FIT Hon Teng Limited's (HKG:6088) ROE Of 12% Impressive? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. By way of learning-by-doing, we'll look at ROE to gain a better understanding of FIT Hon Teng Limited (HKG:6088).
Over the last twelve monthsFIT Hon Teng has recorded a ROE of 12%. Another way to think of that is that for every HK$1 worth of equity in the company, it was able to earn HK$0.12.
See our latest analysis for FIT Hon Teng
Theformula for return on equityis:
Return on Equity = Net Profit ÷ Shareholders' Equity
Or for FIT Hon Teng:
12% = US$234m ÷ US$1.9b (Based on the trailing twelve months to December 2018.)
Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. It is the capital paid in by shareholders, plus any retained earnings. Shareholders' equity can be calculated by subtracting the total liabilities of the company from the total assets of the company.
ROE measures a company's profitability against the profit it retains, and any outside investments. The 'return' is the profit over the last twelve months. The higher the ROE, the more profit the company is making. So, all else being equal,a high ROE is better than a low one. That means ROE can be used to compare two businesses.
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As you can see in the graphic below, FIT Hon Teng has a higher ROE than the average (9.8%) in the Electronic industry.
That's clearly a positive. We think a high ROE, alone, is usually enough to justify further research into a company. For example,I often check if insiders have been buying shares.
Companies usually need to invest money to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. That will make the ROE look better than if no debt was used.
Although FIT Hon Teng does use debt, its debt to equity ratio of 0.51 is still low. Its very respectable ROE, combined with only modest debt, suggests the business is in good shape. Careful use of debt to boost returns is often very good for shareholders. However, it could reduce the company's ability to take advantage of future opportunities.
Return on equity is one way we can compare the business quality of different companies. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have the same ROE, then I would generally prefer the one with less debt.
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to check this FREEvisualization of analyst forecasts for the company.
Of courseFIT Hon Teng may not be the best stock to buy. So you may wish to see thisfreecollection of other companies that have high ROE and low debt.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
https://finance.yahoo.com/news/charter-richard-branson-yacht-vacation-233008483.html | 2019-04-04 23:30:08+00:00 | [] | Karen Doyle | GOBankingRates | https://www.gobankingrates.com/ | Charter Richard Branson’s Yacht and Vacation Like a Billionaire | If living the high life on the high seas is your idea of a dream vacation, you’ll be pleased to know you can now charter a yacht that used to belong to billionaire entrepreneur Richard Branson — who has a net worth of about $5 billion, two private islands and a company with out-of-this-world aspirations to send tourists to space.
One week aboard this luxury yacht will set you back a cool $70,000, but it’s a week you’re likely to never forget.
Dive In:Richard Branson’s Net Worth Primed to Soar
Branson sold theNecker Belle in 2018(the name probably comes from his islands; one of them is called Necker Island). It’s now available for charter thanks to Charter World. The boat was built in 2003 and purchased by Branson in 2008. He had a refit done in 2009, and it won a World Superyacht Award for best new refit in 2010. The yacht was refit again in 2018.
The boat is made of ultra-light carbon fiber, which helps it travel at 14 knots under power and up to 20 knots under sail. As many as 10 guests can sail on this yacht charter and stay in four air-conditioned luxury cabins, including a master suite, a double cabin and two twin cabins. Each cabin includes its own shower room, as well as a flat-screen TV and iPod docking stations.
For an extra fee, there’s also more fun to be had on the Necker Nymph, an aero submarine with the ability to dive 30 metres deep — allowing you to “live out your James Bond fantasies” and “fly underwater and explore ancient shipwrecks,” according to Charter World’s website.
See:15 Luxurious Vacation Spots Beloved by the Rich and Famous
Passengers also get access to a professional crew of six and a saloon in the main area, which has room for two more guests in need of an overnight stay.
Do It:Spare No Expense to Vacation at the 17 Best Beaches in the World
If you’re concerned that Branson’s luxury catamaran may not be enough to impress your friends, there are other yacht rentals available on Charter World. You can charter a 272-footAmels Limited Editionsuperyacht, which sleeps 12, for €1.2 million ($1.34 million) a week. If you’re in a hurry to get there, don’t worry — there’s a helipad so you can land your helicopter on the deck.
Read:5 Luxe Hotels You Can Actually Afford
Of course, if you are not as well-heeled as Branson, you might opt for a more wallet-friendly ride, and there are plenty of those to choose from as well. For just $11,500 a week, you can charter the 64-foot catamaranMalisi, which sleeps up to 10 guests in five cabins. Or, charter theSerenemotor yacht, which accommodates eight guests and a crew of three. Compared to Richard Branson’s yacht, this boat will get you there faster, with a top speed of 34 knots, and cheaper, at €15,500 ($17,421) a week.
Click through if you can’t quite cover the costs and needtips on how to afford a luxury vacation.
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This article originally appeared onGOBankingRates.com:Charter Richard Branson’s Yacht and Vacation Like a Billionaire |
https://finance.yahoo.com/news/bitcoin-hedge-against-irresponsible-federal-233037834.html | 2019-04-04 23:30:37+00:00 | [] | Samantha Chang | CCN | https://www.ccn.com/ | Bitcoin Is a Hedge Against ‘Irresponsible’ Federal Reserve: Asset Manager | As thebitcoin pricerecovers following a catastrophic bear market, crypto bulls are optimistic that good times lie ahead.
Moreover, they predict that the public’s embrace of bitcoin will strengthen over time as they lose faith in the Federal Reserve for its “irresponsible” fiscal policies.
Travis Kling is the founder and chief investment officer of Ikigai Asset Management. He says the Fed’s recentmanipulation of interest rateshas caused many people to lose faith in central banks.
Travis Kling believes the public’s increasing distrust of the Federal Reserve will cause them to embrace bitcoin. (Twitter)
In fact, Kling believes the recentbitcoin pricespike was caused by growing public distrust of the Federal Reserve.
“I would say broadly it was central banks [that caused the recent rally],” Kling toldMarketWatch.“[Bitcoin] has become a hedge against irresponsible monetary and fiscal policy.” |
https://finance.yahoo.com/news/plug-power-plans-regain-investors-233100065.html | 2019-04-04 23:31:00+00:00 | [] | Scott Levine, The Motley Fool | Motley Fool | http://www.fool.com/ | How Plug Power Plans to Regain Investors' Trust | Besides being the cornerstone of both personal and professional relationships, trust is a vital quality in the relationships between investors and the management teams of companies found in their portfolios. Once trust erodes, management's words carry little weight. And for longtime followers ofPlug Power(NASDAQ: PLUG), in particular, this resonates loudly.
Maybe it was management's suggestion, made in2013, that the company would achieve a semblance of profitability in 2014 -- which it didn't. Or maybe it was management's forecasts, made in 2016, regarding the company's gross margins and cash flow in 2017 -- which itmissed. Or maybe it's something else. Whatever the case, management is keen on restoring trust with its shareholders, and to this end, it recently took steps to improve the lines of communication when Andy Marsh, Plug Power's CEO, held Ask Me Anything (AMA) sessions on Quora and Reddit. Additionally, management is attempting to further instill trust in investors by putting its money where its mouth is.
Image source: Getty Images.
During the session on Quora, Marsh addressed a variety of topics, including the company's numerous opportunities. For example, in terms of markets that extend beyond the company's core competency -- material handling equipment -- management seems to be keen on extending its relationship with telecommunications companies, something touched on during its most-recentconference call. In responding to a question regarding the5Gupgrade, Marsh touted the company's "work in providing hydrogen fuel cells for backup power to communications providers includingAT&T, Southern Linc,Sprint, andVerizonto ensure their networks keep working even when utility power is down." Marsh went on to say:
A proven higher reliability and performance in the face of natural disasters and intelligent remote management all contribute to make fuel cells an ideal solution for increasingly critical 5G deployments. We see this as a major area of opportunity and expansion for stationary power solutions from Plug Power as the 5G upgrade progresses.
But he didn't stop there. The subject of 5G also came up in his AMA on Reddit. On this occasion, however, Marsh specified that the 5G upgrade opportunity in Europe seemed less likely, since backup power is needed less there, due in part to less severe weather. The color regarding Europe is important, as it provides investors with a more specific sense of what they can expect regarding the 5G upgrade.
While the commentary regarding 5G was valuable, providing some insight into where the company could potentially prosper, management arguably gained more brownie points with investors by addressing an area that seems less hopeful:China. Back in 2016, China appeared to be the land of opportunity for the fuel cell industry. At the time, Marsh stated that the nation "has made hydrogen and fuel cell vehicles a key component of the country's Energy Revolution Program, which includes over $100 billion in investment and runs through 2030." In the intervening years, however, the company has apparently failed to make progress in the Asian market.
In responding to a question regarding the memorandums of understanding inked with two Chinese vehicle manufacturers in 2016,Marsh revealedthat the partnership fell apart when one of the manufacturers, specialty vehicle makerDongfeng, found itself on less-than-firm financial footing, partially due to unreliable Chinese subsidies.
For investors wondering whatever happened to Plug Power's foray into the Chinese market, the insight Marsh provided was valuable and, arguably, helped in rebuilding trust, since there hadn't been much transparency regarding this issue. In light of the fact that one of Plug Power's fuel cell peers,Ballard Power Systems, has recently faced somechallenges regarding its partnerships with Chinese manufacturers, Marsh's revelation that the company was distancing itself from China in order to maintain its financial fortitude seems especially wise.
Making itself available to the public can go a long way in building confidence with investors, but skeptics would argue that talk is cheap. Management's decision to put its money where its mouth is, therefore, may say a lot more to the company's critics than Marsh's decision to answer questions on a couple of discussion websites. Consistent with a mid-January blog post on Plug Power's website announcing his intent to adopt a 10b5-1 stock trading plan, Marsh followed through recently in a $30,000 transaction in which he bought 12,286 shares at an average price over $2.44 on the open market. The deal raises his stock position to 465,145 shares.
In another transaction illustrating insider confidence, George McNamee, Plug Power's chairman of the board, purchased 100,000 shares on the open market in a transaction valued at roughly $234,000, increasing his position to 826,282 shares.
In and of themselves, the two transactions are notable, as they demonstrate confidence in the company's future, but they stand out even more considering shares hadn't traded this high since January 2018, and insiders hadn't made open-market purchases since September 2017, according toMorningstar.
With a track record of providing auspicious financial outlooks and failing to deliver, Plug Power has for some time failed to generate trust among its shareholders. Management's decision, however, to make itself available to the public through forums on Quora and Reddit -- not to mention open-market stock purchases by company insiders -- reveals that maybe the tide is starting to turn. Should the company succeed in meeting its2019 forecastof achieving positive adjustedEBITDA, this will represent an even greater stride in rebuilding trust with investors.
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Scott Levinehas no position in any of the stocks mentioned. The Motley Fool recommends Verizon Communications. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/could-taruga-minerals-limiteds-asx-233145497.html | 2019-04-04 23:31:45+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Could Taruga Minerals Limited's (ASX:TAR) Investor Composition Influence The Stock Price? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
A look at the shareholders of Taruga Minerals Limited (ASX:TAR) can tell us which group is most powerful. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. I quite like to see at least a little bit of insider ownership. As Charlie Munger said 'Show me the incentive and I will show you the outcome.'
Taruga Minerals is not a large company by global standards. It has a market capitalization of AU$5.8m, which means it wouldn't have the attention of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions own shares in the company. We can zoom in on the different ownership groups, to learn more about TAR.
See our latest analysis for Taruga Minerals
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
As you can see, institutional investors own 6.6% of Taruga Minerals. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Taruga Minerals's historic earnings and revenue, below, but keep in mind there's always more to the story.
Taruga Minerals is not owned by hedge funds. As far I can tell there isn't analyst coverage of the company, so it is probably flying under the radar.
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board; and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board, themselves.
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
Our information suggests that insiders maintain a significant holding in Taruga Minerals Limited. It has a market capitalization of just AU$5.8m, and insiders have AU$1.3m worth of shares in their own names. I would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You canclick here to see if those insiders have been buying or selling.
The general public, who are mostly retail investors, collectively hold 65% of Taruga Minerals shares. This size of ownership gives retail investors collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions.
We can see that Private Companies own 6.2%, of the shares on issue. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.
While it is well worth considering the different groups that own a company, there are other factors that are even more important.
I like to dive deeperinto how a company has performed in the past. You can accessthisinteractive graphof past earnings, revenue and cash flow for free.
Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of interesting companies.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
https://finance.yahoo.com/news/why-cordlife-group-limiteds-sgx-233154002.html | 2019-04-04 23:31:54+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Why Cordlife Group Limited's (SGX:P8A) High P/E Ratio Isn't Necessarily A Bad Thing | Want to participate in aresearch 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 look at Cordlife Group Limited's (SGX:P8A) P/E ratio and reflect on what it tells us about the company's share price.Cordlife Group has a P/E ratio of 28.8, based on the last twelve months. In other words, at today's prices, investors are paying SGD28.8 for every SGD1 in prior year profit.
Check out our latest analysis for Cordlife Group
Theformula for P/Eis:
Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Or for Cordlife Group:
P/E of 28.8 = SGD0.42 ÷ SGD0.015 (Based on the trailing twelve months to December 2018.)
A higher P/E ratio means that investors are payinga higher pricefor each SGD1 of company earnings. That isn't necessarily good or bad, but a high P/E implies relatively high expectations of what a company can achieve in the future.
When earnings fall, the 'E' decreases, over time. Therefore, even if you pay a low multiple of earnings now, that multiple will become higher in the future. So while a stock may look cheap based on past earnings, it could be expensive based on future earnings.
Cordlife Group increased earnings per share by a whopping 125% last year. Unfortunately, earnings per share are down 40% a year, over 5 years.
We can get an indication of market expectations by looking at the P/E ratio. You can see in the image below that the average P/E (26.7) for companies in the healthcare industry is lower than Cordlife Group's P/E.
That means that the market expects Cordlife Group will outperform other companies in its industry. Clearly the market expects growth, but it isn't guaranteed. So investors should always consider the P/E ratio alongside other factors, such aswhether company directors have been buying shares.
It's important to note that the P/E ratio considers the market capitalization, not the enterprise value. That means it doesn't take debt or cash into account. In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth.
Spending on growth might be good or bad a few years later, but the point is that the P/E ratio does not account for the option (or lack thereof).
The extra options and safety that comes with Cordlife Group's S$43m net cash position means that it deserves a higher P/E than it would if it had a lot of net debt.
Cordlife Group has a P/E of 28.8. That's higher than the average in the SG market, which is 12.8. Its strong balance sheet gives the company plenty of resources for extra growth, and it has already proven it can grow. Therefore it seems reasonable that the market would have relatively high expectations of the company
Investors should be looking to buy stocks that the market is wrong about. People often underestimate remarkable growth -- so investors can make money when fast growth is not fully appreciated. Although we don't have analyst forecasts, shareholders might want to examinethis detailed historical graphof earnings, revenue and cash flow.
Of courseyou might be able to find a better stock than Cordlife Group. So you may wish to see thisfreecollection of other companies that have grown earnings strongly.
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/study-challenges-health-benefits-moderate-drinking-225313150.html | 2019-04-04 23:32:02+00:00 | null | null | Associated Press | https://apnews.com/ | Study challenges health benefits of moderate drinking | LONDON (AP) — It might just be enough to kill your buzz: A new study challenges the idea that a drink or two a day could actually be good for you. In a study conducted in China, the researchers found that moderate drinking slightly raised the risk of stroke and high blood pressure. They weren't able to figure out, though, whether small amounts of alcohol might also increase the chances of a heart attack. People who have a drink or two a day have long been thought to have a lower risk of stroke and heart problems than nondrinkers. But scientists were unsure if that was because the alcohol was beneficial or if the people who didn't drink had other health issues. "The claims that alcohol has some magical, protective fix ... has no particularly serious scientific basis," said Richard Peto, of the University of Oxford, one of the study's senior authors. Peto said their findings should apply to other populations beyond China and to any alcoholic drinks like beer or wine, even though the study participants mostly drank spirits. The research was published online Thursday in the journal, Lancet . For their research, the Chinese and British scientists took genetics into account. They focused on two variants common among East Asians that can make drinking unpleasant. For those with the variants, drinking alcohol can result in quickly turning red, a fast heart rate, nausea or headaches. Because such gene variations occur randomly, the researchers were able to design the equivalent of a randomized study. Much of the previous research on alcohol and health effects has relied on studies that can't prove cause and effect. The scientists tracked more than 500,000 people across China, following them for a decade. They recorded their medical history, including whether they smoked or exercised, and how much they drank. A third of the men reported drinking most weeks, compared with few of the women. About 160,000 of the participants had the two gene variants. Among the men in that group, drinking ranged from none to up to four drinks a day. The researchers looked at how many had strokes or heart attacks, and compared them to participants without the variants and to the women with the variants. Overall, the study found alcohol increases the stroke risk by about one-third for every four additional drinks per day. The researchers found no protective effects for moderate drinking. For people who drink up to two drinks a day — which would qualify as moderate drinking — scientists said they would have an increased stroke risk of about 10% to 15% when compared to nondrinkers. There weren't enough heart attacks among the participants to be able to draw a conclusion about heart risks, the researchers said. Story continues In a journal commentary, the authors called for stricter controls on alcohol, saying its risks have been underestimated. "The alcohol industry is thriving and should be regulated in a similar way to the tobacco industry," wrote Shiu Lun Au Yeung and Dr. Tai Hing Lam of the University of Hong Kong. ___ The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute's Department of Science Education. The AP is solely responsible for all content. View comments |
https://finance.yahoo.com/news/high-yield-stock-just-gave-233400441.html | 2019-04-04 23:34:00+00:00 | [] | Matthew DiLallo, The Motley Fool | Motley Fool | http://www.fool.com/ | This High-Yield Stock Just Gave Its Investors a Monster 20% Raise | Plains All American Pipelines(NYSE: PAA)has been on a mission. The oil pipeline master limited partnership (MLP) has been working hard over the past few years to shore up its financial profile so it can return even more cash to investors above its already generous 4.9%-yielding distribution. Those efforts have paid off as the company recently achieved its financial targets. That allowed the pipeline company to give its investors a 20% raise for 2019, boosting the yield to 5.9%.
Meanwhile, the company expects that it will be able to continue giving investors a raise over the next few years. Further, it sees its financial foundation growing even stronger as it aims to retain more cash in the near term to fund expansion projects. That combination of financial strength and visible growth makes it an ideal option for income-seeking investors.
Image source: Getty Images.
In August of 2017, Plains All American unveiled plans to shore up its financial foundation, which had weakened considerably due to the impact of the oil market downturn that started in late 2014. One of the actions it took was to slash its payout -- its second cut in a year -- so it could retain more cash to fund expansion projects and pay down debt. The company aimed to reduce borrowings by $1.4 billion to lower its leverage ratio from an elevated 5.1 times to a more comfortable range of 3.5 to 4.0 times by early 2019.
The company achieved its leverage target by ending last year at 3.4 times debt toEBITDA. Because of that, it was only a matter of time before the company boosted its dividend -- the last question remaining was byhow much. While the company could have easily afforded a bigger raise, it opted for a 20% increase, which will consume about 57% of its cash flow, or a 1.76 times coverage ratio. That lines up well with leading MLPEnterprise Products Partners(NYSE: EPD), which has targeted a similar payout ratio. It's also well above its long-term target of 1.3 times.
Plains All American opted to retain more cash flow so that it could further improve its balance sheet. The oil pipeline company is now targeting a leverage ratio between 3.0 and 3.5 times. That too lines up with the more conservative targets of pipeline companies these days as Enterprise Products Partners, for example, has reduced its leverage goal from 4.0 times to 3.5 times.
Over the next couple of years, Plains All American plans to allocate its excess cash after paying its current distribution across the following four priorities in this order:
1. Leverage reduction to achieve its lower targeted metrics.
2. Disciplined capital investment in high-return expansion projects that should steadily grow cash flow.
3. Distribution growth, with it aiming to increase its payout by around 5% annually over the next couple of years.
4. A unit repurchase program, depending on market conditions.
What's worth noting is that Plains All American has made further reducing leverage a priority as opposed to returning more cash to investors via a repurchase program. That differs from Enterprise Products Partners' approach, which saw that companyinitiatinga $2 billion repurchase program earlier this year. That's due in part because Enterprise Products Partners already has the highest credit rating among MLPs. Plains All American hopes that by further reducing leverage, credit rating agencies will upgrade it to Enterprise's level.
However, even after the company achieves that stronger financial profile, Plains All American expects "distributions and distribution growth to be our primary method of returning capital to investors," according to CFO Al Swanson, not a repurchase program. That suggests the company could reaccelerate distribution growth in the future since it aims to eventually pay out around 75% of its cash flow.
Plains All American Pipeline's turnaround plan has proven to be highly successful. Because of that, it's starting to return more money to investors via a big-time raise in 2019. While the company does expect more moderate increases over the next couple of years as it works toward having a top-tier balance sheet, growth appears poised to reaccelerate once it achieves that goal. That makes it an appealing option for income-seeking investors since it offers them low risk, a high yield, and high growth potential over the long term.
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Matthew DiLalloowns shares of Enterprise Products Partners. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/why-allcargo-logistics-limited-nse-233619926.html | 2019-04-04 23:36:19+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Here’s why Allcargo Logistics Limited’s (NSE:ALLCARGO) 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 evaluate Allcargo Logistics Limited (NSE:ALLCARGO) to determine whether it could have potential as an investment idea. Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires.
Firstly, we'll go over how we calculate ROCE. Then we'll compare its ROCE to similar companies. Finally, we'll look at how its current liabilities affect 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. All else being equal, a better business will have a higher ROCE. In brief, it is a useful tool, but it is not without drawbacks. Author Edwin Whitingsaysto be careful when comparing the ROCE of different businesses, since 'No two businesses are exactly alike.'
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 Allcargo Logistics:
0.11 = ₹2.6b ÷ (₹40b - ₹16b) (Based on the trailing twelve months to December 2018.)
So,Allcargo Logistics has an ROCE of 11%.
View our latest analysis for Allcargo Logistics
When making comparisons between similar businesses, investors may find ROCE useful. Using our data, Allcargo Logistics's ROCE appears to be significantly below the 19% average in the Logistics industry. This performance is not ideal, as it suggests the company may not be deploying its capital as effectively as some competitors. Aside from the industry comparison, Allcargo Logistics's ROCE is mediocre in absolute terms, considering the risk of investing in stocks versus the safety of a bank account. Investors may wish to consider higher-performing investments.
When considering ROCE, bear in mind that it reflects the past and does not necessarily predict the future. ROCE can be misleading for companies in cyclical industries, with returns looking impressive during the boom times, but very weak during the busts. ROCE is, after all, simply a snap shot of a single year. Future performance is what matters, and you can see analyst predictions in ourfreereport on analyst forecasts for the company.
Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. To counteract this, we check if a company has high current liabilities, relative to its total assets.
Allcargo Logistics has total liabilities of ₹16b and total assets of ₹40b. As a result, its current liabilities are equal to approximately 39% of its total assets. Allcargo Logistics's ROCE is improved somewhat by its moderate amount of current liabilities.
With this level of liabilities and a mediocre ROCE, there are potentially better investments out there. You might be able to find a better buy than Allcargo Logistics. If you want a selection of possible winners, check out thisfreelist of interesting companies that trade on a P/E below 20 (but have proven they can grow earnings).
I will like Allcargo Logistics 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/advertisers-shy-away-facebook-fb-233731432.html | 2019-04-04 23:37:31+00:00 | [] | [email protected] (Ben Mahaney) | SmarterAnalyst | https://www.smarteranalyst.com/ | Advertisers Shy Away from Facebook (FB), But the Stock Isn’t a Sell Just Yet | Things could be slowing down for Facebook (FB) stock in the coming years, as small medium business spending trends illustrate a bit of a slowing shift from recent advertiser surveys, and the stock continues to get mired in controversy relating to privacy. Though, this doesn’t mean Facebook is no longer an attractive growth investment vehicle, it has become increasingly likely that the rate of up-take for digital advertising will slowdown, which may taper the long-term growth outlook for the company.
Facebook stock has grinded its way higher from a bottom of $120 from the beginning of January up until the current price of $176 per share. The stock has remained range bound for a couple weeks, and things may improve assuming the adoption of more advertisers. However, the key to Facebook’s valuation remaining compressed may have a lot to do with the uncertainty of growth or adoption of Facebook’s advertising products among small/medium sized businesses, and the negative perception of the social networking site in general, which has kept the valuation below its full potential.
Usage on the platform has steadily grown, but perhaps pricing has become a bit of a challenge in the past couple quarters. Hence, the revenue growth rate could be slowing due to a diminishing of interest or adoption for various Facebook ad products. The slowing penetration for various Facebook ad products has a lot do with heightened saturation for those advertising products, and challenges that could be tied to producing a return on investment from those activities.
This speaks to the more competitive nature of ad-bidding, which has created hurdles for smaller businesses that need to bid lower amounts to even earn a gross profit from advertising, or the fact that there’s some legwork involved with determining how much of a return they can generate from these activities.
It doesn’t necessarily mean that Facebook’s advertising products will become less relevant, but what it points to is a more difficult environment for advertisers looking to justify the spending. Morgan Stanley has recently released an advertising industry survey that points to a diminishing of advertising ROI (return on investment) when compared to Google Search.
Historically, Google Search was considered to be the more expensive of the two options, but things may have changed, and as a consequence when compared to last year’s survey, Facebook is no longer seen as providing the highest ROI from advertising.
Source: Morgan Stanley
Things get a little confusing, because quantifying the sentiment among advertisers in terms of business results is difficult, but from a shareholder perspective, this can be perceived as a little bit troubling. If advertisers no longer see Facebook as the number 1 option for producing returns, it’s going to result in less money spent by advertisers as they look to buy ads from other online platforms. Working out these key advertiser metrics is crucial for Facebook going forward, but to do this, it may mean that the pricing for those same advertising units will have to come down.
In the same survey, advertisers who use Facebook to display ads have gone down by about 10 percentage points from the prior-year. It used to be 80% of advertisers, and now 70% of advertisers are still on the platform. This drop-off in the number of advertisers may have to do with the pricing of the ads, or really the inability to make money from running those ads. Whatever the case may be, it’s certainly an indication that things could be slowing down, as advertisers attempt to look for other options other than Facebook.
This probably doesn’t bode as well for shareholders who have become accustomed to 30%+ revenue growth rates. Over the current fiscal year, the growth in revenue will likely slow, perhaps not by a significant margin, but it will become more noticeable.
This might lead the stock to become more volatile, but given the company’s 20x P/E, it’s not like investors are pricing-in a whole lot of growth anyway, and they probably shouldn’t given the more mature profile of online advertising and a slowdown in acquiring new businesses to advertise on the platform.
TipRanks’ data shows an overwhelmingly bullish camp backing the social media giant. Facebook stock has amassed 34 ‘buy’ ratings in the last three months vs. 6 'hold' and 1 'sell' ratings. The 12-month average price target stands at $194.11, marking nearly 10% return for the stock. (See FB's price targets and analyst ratings on TipRanks)
Disclosure: The author has no positions in FB stock.
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https://finance.yahoo.com/news/mark-emmert-ncaa-wants-a-ban-on-athletes-betting-on-any-type-of-sport-233823095.html | 2019-04-04 23:38:23+00:00 | null | null | Yahoo Sports | https://sports.yahoo.com/ | NCAA wants ban on players making legal sports bets | The NCAA has no interest in allowing college athletes to place wagers on sporting events. It’s natural that the NCAA wouldn’t want players to make bets on games they’re competing in or for football players to be banned from betting on college football games and baseball players prevented from betting on college baseball games. But according to NCAA president Mark Emmert, the collegiate governing body wants to take a betting ban as far as it can go and prevent athletes from placing legal sports bets entirely. “We want a prohibition,” Emmert said Thursday in Minneapolis ahead of the Final Four. “The membership wants a prohibition of athletes gambling in any sports, period.” As the widespread legalization of sports betting begins, the irony of Emmert taking such a strong stand against sports wagering at the Final Four is delicious. The NCAA tournament is one of the most popular sporting events in the country because of gambling. The printable brackets that the NCAA itself even provides aren’t being used for people to fill in the winners as the tournament goes along. NCAA enforcement of a betting ban also seems fraught with loopholes. It simply doesn’t have the resources or ability to monitor who is placing bets and with whom. The NCAA already has a hard enough time keeping up with the deals being arranged for basketball recruits to commit to certain schools. Emmert doesn’t say much regarding player likeness As politicians begin to take up the cause of college athletes getting compensated for their image rights, Emmert didn’t offer much regarding a shifting NCAA stance toward player compensation. NCAA athletes currently can’t profit from their name or likeness. It’s why Virginia’s Kyle Guy had to have his wedding registry taken down earlier in the week. A bill proposed in the House of Representatives would push for college athletes to retain those rights and Sen. Chris Murphy (D-Conn.) has also started railing against the lack of compensation athletes receive. Story continues Emmert said Thursday that likeness and image rights would be discussed going forward. But that’s about it. “We've obviously talked to [Rep. Mark Walker] and are trying to understand his position and trying to make sure he understands ours,” Emmert said. “There is very likely to be in the coming months even more discussion about the whole notion of name, image, and likeness, and how it fits into or doesn't fit into the current legal framework and the environment of college sports. “Similarly, there needs to be a lot of conversation about how — if it was possible, how it would be practicable. Is there any way to make that work and still allow fair competitive relationships among schools? And nobody's been able to come up with a resolution yet around that.” – – – – – – – Nick Bromberg is a writer for Yahoo Sports 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/social-media-executives-could-liable-233515833.html | 2019-04-04 23:39:16+00:00 | null | null | Reuters | https://www.reuters.com/ | Social media executives could be liable for harmful content - The Guardian | (Reuters) - Social media executives could be held personally liable for harmful content distributed on their platforms, the Guardian reported on Thursday, citing leaked British government plans. The government is expected to unveil its plans on Monday, to be policed by an independent regulator and likely to be funded through a levy on media companies, the Guardian said. Social media companies have been widely criticised following last month's attack in Christchurch, New Zealand, that left several people dead, leading to widespread calls for regulations on harmful online content. UK communications regulator Ofcom will likely be the initial regulator and will have the power to impose substantial fines against companies and hold individual executives personally liable, if they breach their statutory duty of care to be responsible for the content on their site, according to the report. Companies such as Facebook Inc and Alphabet Inc's Google could be asked to comply with a code of practice and to implement measures to protect users from online harm, the Guardian said. The British government, Facebook and Google were not immediately available for comment. The new practices are also likely to include steps companies will be expected to take to combat disinformation and improve transparency of political advertising, the Guardian said. "Labour have been calling for a new regulator with tough powers to bring social media companies into line for the last year. The public and politicians of all parties agree something must be done to force them to take responsibility for the harms, hate speech and fake news hosted on their platforms, and the plans for personal liability are promising," Labour's Tom Watson said in a series of tweets http://bit.ly/2WG04Xo. But some major concerns remain, he added, as these plans could take years to implement. (Reporting by Bhargav Acharya in Bengaluru; Editing by Diane Craft and Daniel Wallis) |
https://finance.yahoo.com/news/google-scraps-ai-ethics-council-234433622.html | 2019-04-04 23:44:33+00:00 | [] | Mark Bergen | Bloomberg | https://www.bloomberg.com/ | Google Scraps New AI Ethics Council After Outcry | (Bloomberg) -- Google is scrapping an outside council set up to evaluate its artificial intelligence efforts after a dramatic outcry about the makeup of the panel.
The Alphabet Inc. company introduced the group, called the Advanced Technology External Advisory Council (ATEAC), on March 26. Google asked the eight members to advise the company on knotty ethical questions on products such as facial-recognition software and algorithmic bias. Within a week, one person declined the invitation and another became the target of a pointed petition from Google staff as well as criticism from outside advocates.
“It’s become clear that in the current environment, ATEAC can’t function as we wanted,” Google said Thursday in a statement. “So we’re ending the council and going back to the drawing board. We’ll continue to be responsible in our work on the important issues that AI raises, and will find different ways of getting outside opinions on these topics.”
Vox earlier reported Google’s decision to disband the council.
The outside council was intended to help the tech giant implement its own AI ethical principles, guidelines that were put in place last year after an employee rebellion forced Google to retreat from a military cloud-computing contract. Hundreds of employees signed a petition circulating last week to remove Kay Coles James, president of the Heritage Foundation, a conservative think tank, citing concerns about her positions on gay and transgender people.
To contact the reporter on this story: Mark Bergen in San Francisco at [email protected]
To contact the editors responsible for this story: Jillian Ward at [email protected], Andrew Pollack, Rob Golum
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. |
https://finance.yahoo.com/news/had-bought-trimantium-growthops-asx-234515028.html | 2019-04-04 23:45:15+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | If You Had Bought Trimantium GrowthOps (ASX:TGO) Stock A Year Ago, You'd Be Sitting On A 56% Loss, Today | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
It's nice to see theTrimantium GrowthOps Limited(ASX:TGO) share price up 21% in a week. But that doesn't change the fact that the returns over the last year have been disappointing. During that time the share price has sank like a stone, descending 56%. The share price recovery is not so impressive when you consider the fall. It may be that the fall was an overreaction.
See our latest analysis for Trimantium GrowthOps
Because Trimantium GrowthOps is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. Shareholders of unprofitable companies usually expect strong revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size.
In the last twelve months, Trimantium GrowthOps increased its revenue by 55%. That's well above most other pre-profit companies. In contrast the share price is down 56% over twelve months. Yes, the market can be a fickle mistress. This could mean hype has come out of the stock because the bottom line is concerning investors. Generally speaking investors would consider a stock like this less risky once it turns a profit. But when do you think that will happen?
The graphic below shows how revenue and earnings have changed as management guided the business forward. If you want to see cashflow, you can click on the chart.
It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. It might be well worthwhile taking a look at ourfreereport on Trimantium GrowthOps's earnings, revenue and cash flow.
While Trimantium GrowthOps shareholders are down 56% for the year, the market itself is up 13%. While the aim is to do better than that, it's worth recalling that even great long-term investments sometimes underperform for a year or more. The share price decline has continued throughout the most recent three months, down 31%, suggesting an absence of enthusiasm from investors. Given the relatively short history of this stock, we'd remain pretty wary until we see some strong business performance. Investors who like to make money usually check up on insider purchases, such as the price paid, and total amount bought.You can find out about the insider purchases of Trimantium GrowthOps by clicking this link.
There are plenty of other companies that have insiders buying up shares. You probably donotwant to miss thisfreelist of growing companies that insiders are buying.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [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/analysts-saying-towngas-china-company-234522653.html | 2019-04-04 23:45:22+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | What Are Analysts Saying About Towngas China Company Limited's (HKG:1083) Future? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
In December 2018, Towngas China Company Limited (HKG:1083) released its most recent earnings announcement, which showed that the company experienced a significant headwind with earnings declining by -10%. Below, I've laid out key numbers on how market analysts predict Towngas China's earnings growth trajectory over the next couple of years and whether the future looks brighter. I will be looking at earnings excluding extraordinary items to exclude one-off activities to get a better understanding of the underlying drivers of earnings.
Check out our latest analysis for Towngas China
Market analysts' consensus outlook for the upcoming year seems buoyant, with earnings increasing by a robust 23%. This growth seems to continue into the following year with rates arriving at double digit 35% compared to today’s earnings, and finally hitting HK$1.8b by 2022.
Even though it’s helpful to be aware of the growth rate year by year relative to today’s figure, it may be more valuable to evaluate the rate at which the company is rising or falling every year, on average. The benefit of this method is that it ignores near term flucuations and accounts for the overarching direction of Towngas China's earnings trajectory over time, which may be more relevant for long term investors. To compute this rate, I've appended a line of best fit through the forecasted earnings by market analysts. The slope of this line is the rate of earnings growth, which in this case is 11%. This means that, we can assume Towngas China will grow its earnings by 11% every year for the next few years.
For Towngas China, there are three fundamental factors you should further examine:
1. Financial Health: Does it have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk.
2. Valuation: What is 1083 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 1083 is currently mispriced by the market.
3. Other High-Growth Alternatives: Are there other high-growth stocks you could be holding instead of 1083? Exploreour interactive list of stocks with large growth 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/avolon-seeks-register-two-planes-234633068.html | 2019-04-04 23:46:33+00:00 | null | null | Reuters | https://www.reuters.com/ | Avolon seeks to de-register two planes leased to Jet Airways, woes deepen for airline | * First lessor to de-register on a non-consensual basis with Jet * Avolon currently has five more aircraft placed with Jet (Adds Avolon's response in para 4 and lenders' statement in para 8) By Anshuman Daga SINGAPORE, April 5 (Reuters) - Avolon, one of the world's biggest aircraft lessors, applied to de-register two planes it had placed with Jet Airways Ltd, making it the first lessor to do so on a non-consensual basis with the struggling Indian airline. Two subsidiaries of Dublin-based Avolon applied to India's Directorate General of Civil Aviation (DGCA) to de-register two Boeing 737-800s, according to notices published on the regulator's website. Avolon has terminated the leases on the planes and currently has five more aircraft placed with Jet, said sources who declined to be identified due to the sensitivity of the matter. A spokesman for Avolon declined comment on the matter. The move by Avolon indicates an escalation of a crisis for Jet. The airline, now controlled by its lenders, has had to ground more than three-quarters of its fleet of 119 planes, many due to non-payment to lessors, leading to hundreds of flight cancellations. With debt of more than $1 billion, Jet has struggled to pay lenders, suppliers, pilots and lessors for months and was on the brink of bankruptcy, but was bailed out last month by state-run banks. The consortium of lenders temporarily took a majority stake in the company, and agreed to issue a loan of 15 billion rupees ($217 million) to meet Jet's obligations but the money has still not been released. The lenders said late on Thursday that they intend to push forward with their plan to rescue Jet, but offered no clarity on interim funding, leaving the future of the carrier hanging in the balance. Frustrated by the unpaid dues, Jet's lessors, including many of the world's biggest players such as GE Capital Aviation Services, Aercap Holdings and BOC Aviation have taken control of their planes, sources said. Reuters reported last month that some of Jet's lessors had begun terminating lease deals. Since then, they have also moved a handful of planes out of India after getting a go-ahead from the airline. Once India's leading full-service carrier, Jet's operational fleet stood at 28 planes as of Wednesday, a spokesman said. ($1 = 69.0040 Indian rupees) (Reporting by Anshuman Daga; Additional reporting by Arnab Paul; Editing by Himani Sarkar and Richard Pullin) |
https://finance.yahoo.com/news/easier-rent-car-debit-card-234749489.html | 2019-04-04 23:47:49+00:00 | null | null | Kiplinger | http://portal.kiplinger.com/ | It's Easier to Rent a Car With a Debit Card | If you try to rent a car with a debit card rather than a credit card, you usually have to jump through extra hoops--typically a credit check and a hefty "hold" placed on funds in your bank account. Many car-rental agencies also require debit card users to produce extra ID besides a driver's license, such as a passport or utility bill, and a copy of your travel plans. See Also: Does Insurance Cover That? Dollar Car Rental and Thrifty Car Rental--both subsidiaries of Hertz--recently made the process less painful. Debit card users are no longer subject to a credit check, and to rent most vehicles, you need only a driver's license as proof of identity if you book at least 24 hours in advance. Dollar and Thrifty renters ages 20 to 24 can also use a debit card; previously, you had to be at least 25. And the hold on a renter's bank account dropped from $350 to $200. Travelers commonly encounter holds for car rentals and hotel reservations on credit cards as well as debit cards. But holds can be more problematic for debit card users, who lose access to real money in their bank accounts. Holds often last the length of the reservation, plus any extra time the bank takes to post the funds back to your account. Holds are common because the total charge may change between the beginning and end of the transaction, says Raquel Cardenas, executive vice president for Frost Bank. A hotel customer, for example, may rack up charges for Wi-Fi or room service; a rental-car customer may return a car late or without filling the gas tank. The amount of a hold can add up quickly, says Ted Rossman, of CreditCards.com. Some hotels, for example, hold a certain amount each day for incidentals, plus charges for the room and taxes. Credit cards are more likely than debit cards to offer perks such as insurance coverage if you decline a car-rental agency's collision-damage waiver, or travel insurance to cover nonrefundable expenses if your trip is canceled or interrupted. If you use a travel rewards credit card, you may get extra points or cash back, or you may be reimbursed up to a certain amount yearly for travel purchases. Story continues See Also: Best Rewards Credit Cards for Travel EDITOR'S PICKS The Worry-Free Way to Rent a Car Who Pays When You Crash a Rental Car? 28 Ways to Stop Wasting Money Copyright 2019 The Kiplinger Washington Editors |
https://finance.yahoo.com/news/samsung-elec-says-q1-profit-234829814.html | 2019-04-04 23:48:29+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Samsung Elec says Q1 profit likely fell 60 pct as chip prices hit | * Jan-March op profit likely 6.2 trln won vs 6.8 trln won analyst view
* Revenue likely fell 14 pct to 52 trln won
* Estimates come as co warns disappointing results
SEOUL, April 5 (Reuters) - South Korea's Samsung Electronics Co Ltd said on Friday its first-quarter operating profit likely slid 60 percent from a year earlier, as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins.
The world's biggest maker of smartphones and memory chips said in a filing January-March profit was likely 6.2 trillion won ($5.5 billion), missing the 6.8 trillion won estimate from analysts according to Refinitiv SmartEstimate.
Revenue likely fell 14 percent from a year earlier to 52 trillion won. The firm will disclose detailed earnings in late April.
The Apple Inc supplier and rival earlier had warned the quarter could be disappointing due to falls in prices of memory chips, its core profit-driver, and slowing demand for display panels used in Apple's iPhones.
Samsung's smartphones meanwhile are struggling to be profitable due to rising costs of innovation, competition from Chinese rivals and weakening demand for premium models, analysts have said.
Even so, the firm's share price has leapt more than 25 percent since sinking to a two-year low in early January as some investors bet on a recovery in chip demand.
The tech giant says earnings are expected to recover in the second half of the year thanks to rising demand from data centres, where data is stored remotely or in so-called cloud servers. (Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates) |
https://finance.yahoo.com/news/5-reasons-jamie-dimon-isn-234925169.html | 2019-04-04 23:49:25+00:00 | [] | Jen Wieczner | Fortune | http://fortune.com/ | 5 Reasons Jamie Dimon Isn't Too Worried We'll See a Recession in 2019 | Jamie Dimon released his annual letter Thursday, offering his usual update on JPMorgan Chase’s activities along with a critique of financial regulation and government policy. Reading through the letter, which runs 95 printed pages, one contrarian theme stands out: Unlike many prominent economists and executives, Dimon doesn’tsee a recession coming in 2019or soon after—and he thinks people should probably be a bit more optimistic.
“Of course, we hyper-focus on today’s problems, and they often overshadow the progress we are making across the globe,” Dimon writes. “We should not overlook the positive signs.” (Among the encouraging signs he observes: a “strong U.S. economy,” continued global growth, the likelihood that trade negotiations will be “properly resolved” and the upturn in previously struggling markets such as Brazil.)
Making his view extra clear, Dimon draws an important distinction—that just because JPMorgan accounts for a worst-case scenario doesn’t mean it believes it’s likely to happen. “We are prepared for—though we are not predicting—a recession,” he emphasizes.
He does issue one caveat: That the next recession may not happen for the same reasons as recessions in the past, making it difficult to spot the signs. “Next time,” he writes, “the cause may be just the cumulative effect of negative factors—the proverbial last straw on the camel’s back.”
Still, here are five clues Dimon drops in his letter for why he doesn’t think a recession is imminent.
For the past couple of weeks, investors have been fretting over the recent (and temporary)inversion of the yield curve, a phenomenon in which short-term Treasury bonds pay out higher interest rates than their longer-term counterparts, the 10-year Treasury. It’s a sign that investors are worried the economy will be worse in the future than it is today, and historically has been a consistent harbinger of recession.
But Dimon isn’t buying it this time. “I would not look at the yield curve and its potential inversion as giving the same signals as in the past,” he writes, citing “extreme” stimulus measures by the Federal Reserve and others following the 2008 financial crisis. “There has simply been too much interference in the global markets by central banks and regulators to understand its full effect on the yield curve.”
Though economists and investors have largely resigned themselves toa slowdown in the economy(thinking that the post-crisis expansion has likely run its course), Dimon thinks they might be overly pessimistic.
“There may be too much certainty that growth will be slow and inflation subdued,” he writes in his letter, noting that “employment and wages continue to go up.”
After all, he continues, “This has been a very slow recovery, and it is possible that the ‘normal’ increase of inflation late in the cycle, due to wage demands and limited supply, can still happen. We don’t see it today, but I would not rule it out.” In other words, don’t count out a late-cycle growth spurt just yet.
Dimon spends an entire section of the letter dissecting thestock market plungeat the end of 2018, which rapidly erased all of the S&P 500 and Dow Jones Industrial Average’s gains for the year.
Though he does warn that such investor panic could return and bring more market volatility, Dimon comes to a fairly certain conclusion: It was an “overreaction.”
Indeed, he repeats a laundry list of positive economic indicators—continued growth of employment, wages, and GDP; “healthy” financial markets; “strong” consumer and business confidence (even if below all-time highs); the fact that “the consumer balance sheet and credit are in rather good shape;” and tight housing supply in cities across the U.S. (“which should eventually be a tailwind”).
That’s why Dimon reminds his readers to take stock moves with a grain of salt, and to act rationally: “Market reactions do not always accurately reflect the real economy, and, therefore, policymakers and even companies should not overreact to them.”
Whilecompanies and investors have been hanging on to every bit of newscoming out of the trade talks between the U.S. and China, wondering whether the two sides can come to an agreement, Dimon isn’t sweating it. “We believe the odds are high that a fair trade deal will eventually be worked out,” he writes. Of course, if that fails, there will be “serious repercussions,” he notes—but nothing China can’t handle: “China can deal with many serious situations because, unlike developed democratic nations, it can both macromanage and micromanage its economy and move very fast.”
Dimon also thinks developing nations have become more stable, making their debt loads less of a risk: “The emerging markets, both countries and companies, are much bigger and stronger than they were in the past,” Dimon writes.
Dimon also waved off fears about the growing U.S. budget deficit, and its potential to cause a recession: “America’s debt level is rapidly increasing but is not at the danger level.”
He’s more concerned about what he calls “shadow banking,” or an increase in lending by non-banks, particularly mortgages and student loans as well as higher-risk leveraged loans. Still, “we don’t think this is yet of the size or quality to cause systemic issues in the financial system,” Dimon writes. “At this level, it is still a manageable issue.”
The bottom line: “Today is nothing like 2008,” Dimon writes.
For everyone’s sake, let’s hope he’s right. |
https://finance.yahoo.com/news/ibm-apos-big-bet-artificial-234929235.html | 2019-04-04 23:49:29+00:00 | [] | Anne Fisher | Fortune | http://fortune.com/ | IBM's Big Bet on Artificial Intelligence Training | The next time you call an 800 number with a gripe about a product or service, consider this: Even though it’s a real live person who answers, he or she might not be the one deciding how to deal with you. Instead, a complex series of algorithms may step in, to gauge your mood and react accordingly. One version of IBM’s interactive technology Watson Assistant instantly analyzes your tone of voice. Then, based on precisely how peeved you sound, the system suggests what the service rep should offer as a fix for whatever your problem is—a refund, for instance, or free shipping on your next order—with the aim of holding on to your business.
Wondering why a human CSR can’t just handle this conversation? “People interpret tones of voice differently, so they respond differently to customers,” explainsIBMconsultant Aman Kochhar. By contrast, he adds, “A.I. is not subjective. So it’s much more consistent.”
Kochhar has been learning to apply artificial intelligence to business problems since last December, when he started taking A.I. courses as part of the first phase of a gigantic new training push inside IBM. Called AI Skills Academy (AISA), the program is designed to do two things. First, it teaches employees about integrating A.I. into their own jobs within the company, from creating marketing apps to improving supply chain efficiency. At the same time, AISA educates IBMers in consulting, sales, operations, and elsewhere how to collaborate with clients to use A.I. in their businesses, too. Divided into two tracks—one for techies (software developers, engineers, research scientists) and one for everybody else—the curriculum has four levels, from basic to expert.
More than 2,200 IBM staffers have started the training since it launched last year, and IBM expects at least 4,000 graduates of all four levels in 2019. But, says IBM vice president for talent Obed Louissant, that’s just for openers: “All of our employees will eventually be trained in A.I.” Moreover, AISA continually adds new content. In the works right now: New courses on making use of A.I. in project management and general management roles.
In one sense, it’s only logical that IBM is investing big chunks of its $500 million annual training budget in AISA. After all, “we build these A.I. technologies,” notes Louissant. “So we have a responsibility to teach people how to use them, both inside and outside the company.”
Okay, but AISA also clearly does something else — to wit, it makes IBM’s 350,000 employees worldwide a lot more desirable to other employers. As more companies rely more heavily on data analytics, andmore jobscall for a working knowledge of A.I., Gartner predicts 2.3 million new roles worldwide that will require these skills by the end of next year.
For IBM, AISA is a calculated risk. On the one hand, the company has no real choice but to train its workforce in A.I. But on the other hand, helping employees develop precisely the skills most in demand in the outside world right now seems dicey. “We did think a lot about this as we developed the program,” Louissant says, adding wryly, “We were concerned from the outset about whether we’d be creating a public service.”
It may work out that way, but for now, Louissant thinks most graduates of IBM’s program will want to stick around. He points to the fact that, among the roughly 800 people who have already completed AISA training—and who are therefore even more marketable than they were a year ago—attrition, so far, is lower than for IBM’s workforce overall.
It’s early days yet, of course, but that tiny attrition rate may be a reflection of what employees said, in detailed surveys, about what motivates and engages them. Even more than money, which of course competitors can offer too, IBMers say they’re “most interested in keeping up with the cutting edge in technology and continually learning new skills,” says Louissant. “So offering them new trainingisa retention strategy.” In this era of persistent (and, it seems, multiplying) skills gaps, that’s a notion worth pondering.
Anne Fisheris a career expert and advice columnist who writes “Work It Out,” Fortune’s guide to working and living in the 21st century. Each week, she’ll answer your most challenging career questions. Have one? Ask her onTwitteror email her [email protected]. |
https://finance.yahoo.com/news/samsung-electronics-says-quarter-one-234126453.html | 2019-04-04 23:49:43+00:00 | [] | Reuters | Reuters | http://www.reuters.com/ | Samsung Electronics says first-quarter profit likely fell 60 percent as chip prices hit | SEOUL (Reuters) - South Korea's Samsung Electronics Co Ltd said on Friday its first-quarter operating profit likely slid 60 percent from a year earlier, as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins.
The world's biggest maker of smartphones and memory chips said in a filing January-March profit was likely 6.2 trillion won ($5.5 billion), missing the 6.8 trillion won estimate from analysts according to Refinitiv SmartEstimate.
Revenue likely fell 14 percent from a year earlier to 52 trillion won. The firm will disclose detailed earnings in late April.
The Apple Inc supplier and rival earlier had warned the quarter could be disappointing due to falls in prices of memory chips, its core profit-driver, and slowing demand for display panels used in Apple's iPhones.
Samsung's smartphones meanwhile are struggling to be profitable due to rising costs of innovation, competition from Chinese rivals and weakening demand for premium models, analysts have said.
Even so, the firm's share price has leapt more than 25 percent since sinking to a two-year low in early January as some investors bet on a recovery in chip demand.
The tech giant says earnings are expected to recover in the second half of the year thanks to rising demand from data centres, where data is stored remotely or in so-called cloud servers.
(Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates) |
https://finance.yahoo.com/news/samsung-electronics-says-quarter-one-234126214.html | 2019-04-04 23:49:43+00:00 | null | null | Reuters | https://www.reuters.com/ | Samsung Electronics says first-quarter profit likely fell 60 percent as chip prices hit | SEOUL (Reuters) - South Korea's Samsung Electronics Co Ltd said on Friday its first-quarter operating profit likely slid 60 percent from a year earlier, as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins. The world's biggest maker of smartphones and memory chips said in a filing January-March profit was likely 6.2 trillion won ($5.5 billion), missing the 6.8 trillion won estimate from analysts according to Refinitiv SmartEstimate. Revenue likely fell 14 percent from a year earlier to 52 trillion won. The firm will disclose detailed earnings in late April. The Apple Inc supplier and rival earlier had warned the quarter could be disappointing due to falls in prices of memory chips, its core profit-driver, and slowing demand for display panels used in Apple's iPhones. Samsung's smartphones meanwhile are struggling to be profitable due to rising costs of innovation, competition from Chinese rivals and weakening demand for premium models, analysts have said. Even so, the firm's share price has leapt more than 25 percent since sinking to a two-year low in early January as some investors bet on a recovery in chip demand. The tech giant says earnings are expected to recover in the second half of the year thanks to rising demand from data centres, where data is stored remotely or in so-called cloud servers. (Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates) |
https://finance.yahoo.com/news/samsung-electronics-says-quarter-one-profit-likely-fell-234126923--finance.html | 2019-04-04 23:49:43+00:00 | [] | Reuters | Reuters | https://www.reuters.com/ | Samsung Electronics says first-quarter profit likely fell 60 percent as chip prices hit | SEOUL (Reuters) - South Korea's Samsung Electronics Co Ltd said on Friday its first-quarter operating profit likely slid 60 percent from a year earlier, as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins.
The world's biggest maker of smartphones and memory chips said in a filing January-March profit was likely 6.2 trillion won ($5.5 billion), missing the 6.8 trillion won estimate from analysts according to Refinitiv SmartEstimate.
Revenue likely fell 14 percent from a year earlier to 52 trillion won. The firm will disclose detailed earnings in late April.
The Apple Inc supplier and rival earlier had warned the quarter could be disappointing due to falls in prices of memory chips, its core profit-driver, and slowing demand for display panels used in Apple's iPhones.
Samsung's smartphones meanwhile are struggling to be profitable due to rising costs of innovation, competition from Chinese rivals and weakening demand for premium models, analysts have said.
Even so, the firm's share price has leapt more than 25 percent since sinking to a two-year low in early January as some investors bet on a recovery in chip demand.
The tech giant says earnings are expected to recover in the second half of the year thanks to rising demand from data centres, where data is stored remotely or in so-called cloud servers.
(Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates) |
https://finance.yahoo.com/news/why-think-china-suntien-green-235016405.html | 2019-04-04 23:50:16+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Why We Think China Suntien Green Energy Corporation Limited (HKG:956) Could Be Worth Looking At | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
China Suntien Green Energy Corporation Limited (HKG:956) 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 956, it is a well-regarded dividend-paying company with a an impressive track record of performance, trading at a great value. 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 China Suntien Green Energy here.
Over the past year, 956 has grown its earnings by 35%, with its most recent figure exceeding its annual average over the past five years. Not only did 956 outperformed its past performance, its growth also exceeded the Oil and Gas industry expansion, which generated a 11% earnings growth. This is what investors like to see! 956 is currently trading below its true value, which means the market is undervaluing the company's expected cash flow going forward. This mispricing gives investors the opportunity to buy into the stock at a cheap price compared to the value they will be receiving, should analysts' consensus forecast growth be correct. Compared to the rest of the oil and gas industry, 956 is also trading below its peers, relative to earnings generated. This supports the theory that 956 is potentially underpriced.
956 is considered one of the top dividend payers in the market, and it has also been able to maintain it at a level in which net income is able to cover dividend payments.
For China Suntien Green Energy, I've compiled three key factors you should further examine:
1. Future Outlook: What are well-informed industry analysts predicting for 956’s future growth? Take a look at ourfree research report of analyst consensusfor 956’s outlook.
2. Financial Health: Are 956’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out ourfinancial health checks here.
3. Other Attractive Alternatives: Are there other well-rounded stocks you could be holding instead of 956? 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/teslas-elon-musk-square-off-sec-court-contempt-100324837--sector.html | 2019-04-04 23:50:18+00:00 | [] | By Brendan Pierson and Jonathan Stempel | Reuters | https://www.reuters.com/ | Elon Musk safe for now as U.S. judge urges Tesla CEO, SEC to end tweet dispute | By Brendan Pierson and Jonathan Stempel
NEW YORK (Reuters) - Elon Musk's job as Tesla Inc's chief executive appeared safe on Thursday as a federal judge in Manhattan urged the billionaire to settle contempt allegations by the U.S. Securities and Exchange Commission over his use of Twitter.
At a hearing in Manhattan federal court, U.S. District Judge Alison Nathan gave both sides two weeks to work out their differences, and said she could rule on whether Musk violated his recent fraud settlement with the regulator if they failed.
"Take a deep breath, put your reasonableness pants on, and work this out," the judge said.
The hearing appeared to lift an overhang over Tesla, as the SEC stopped well short of recommending Musk's removal as chief executive or even from the electric car company's board.
Instead, the regulator suggested that greater oversight of Musk's communications, including the threat of new fines if he backslides, was punishment enough, at least for now.
"What this is to the SEC is strike two, and if there is another transgression they might seek a director and officer bar," said Peter Henning, a law professor at Wayne State University in Detroit and a former SEC lawyer. "They are just trying to send a message: be more careful."
Nathan had been asked to hold Musk in contempt over a Feb. 19 tweet, where the SEC said he improperly posted material information about Tesla's vehicle production outlook without first seeking approval from its lawyers.
The SEC said pre-approval was a core element of the October 2018 settlement, which resolved a lawsuit over a tweet last Aug. 7 where Musk said he had "funding secured" to take Tesla private at $420 per share.
That settlement called for Musk to step down as Tesla's chairman, and levied $20 million civil fines each on Musk and the Palo Alto, California-based company.
Musk declined to discuss the hearing as he left the courthouse, surrounded by a horde of reporters, photographers and television cameras, but said "I feel very loved here."
In a statement provided later by Tesla, Musk said: "I have great respect for Judge Nathan, and I’m pleased with her decision today. The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement."
TESLA ALSO FAULTED
Tesla's share price tumbled 8.2% on Thursday, after the company on Wednesday night reported lower-than-expected vehicle deliveries, but recouped some early losses once Musk's job no longer appeared imperiled.
The company built its reputation on luxury cars, but has faced several production challenges with its Model 3 sedan, which it hopes will reach a mass audience.
"Elon Musk was very well composed in the court today, which means he's taking it seriously," Craig Irwin, a Roth Capital Partners analyst who attended the hearing, said in an interview. He called Nathan's order "a good outcome for Tesla investors." Irwin rates Tesla "neutral."
The battle concerned a tweet that Musk sent to his more than 24 million Twitter followers: "Tesla made 0 cars in 2011, but will make around 500k in 2019," meaning 500,000 vehicles.
Four hours later, Musk corrected himself, saying annualized production would be "probably around" 500,000 by year end, with full-year deliveries totaling about 400,000.
The SEC said the earlier tweet conflicted with Tesla's Jan. 30 outlook, when it targeted annualized Model 3 production exceeding 500,000 as soon as the fourth quarter, and projected 360,000 to 400,000 vehicle deliveries this year.
Musk's lawyers countered that the earlier tweet contained nothing new, and that the SEC had conceded during settlement talks that Musk did not need pre-approval for all tweets about Tesla.
RESPECT FOR JUSTICE SYSTEM
At the hearing, SEC lawyer Cheryl Crumpton said a contempt finding could require Musk to file regular reports about how Tesla lawyers are overseeing his tweets.
Noting that Musk had called his $20 million fine "worth it," Crumpton said the threat of higher potential fines might also be needed to show that further violations would be "not worth it."
Musk is worth $20.7 billion, according to Forbes magazine.
Crumpton also faulted what she called Tesla's "troubling" conduct. "Tesla still appears to be unwilling to exercise any meaningful control over the conduct of its CEO," she said.
Tesla was not accused of contempt.
Musk's lawyer, John Hueston, countered that the "ambiguity" of the settlement made "the hard penalty of contempt" unfair.
The "funding secured" tweet had sent Tesla's share price up as much as 13.3 percent. Musk's privatization plan was at best in an early stage, however, and financing was not in place.
SEC Chairman Jay Clayton has said he does not favor draconian penalties that could harm investors, saying when Musk settled that "the skills and support of certain individuals may be important to the future success of a company."
Musk remains an outspoken critic of the SEC.
Since the case began, he has dubbed the regulator the "Shortseller Enrichment Commission," recalling his attacks on investors who sell Tesla stock short.
And in the early morning of Feb. 26, after the SEC filed its contempt motion, Musk tweeted: "Something is broken with SEC oversight."
As he prepared to enter the courthouse, Musk told reporters: "I have a great respect for the justice system."
Asked whether he also respected the SEC, Musk laughed, before turning to go inside.
(Reporting by Brendan Pierson and Jonathan Stempel in New York; Additional reporting by Alexandria Sage in San Francisco, Michelle Price and Jan Wolfe in Washington, and Sayanti Chakraborty in Bengaluru; Editing by Lisa Shumaker) |
https://finance.yahoo.com/news/teslas-elon-musk-square-off-sec-court-contempt-100324914--sector.html | 2019-04-04 23:50:18+00:00 | [] | By Brendan Pierson and Jonathan Stempel | Reuters | https://www.reuters.com/ | Elon Musk safe for now as U.S. judge urges Tesla CEO, SEC to end tweet dispute | By Brendan Pierson and Jonathan Stempel NEW YORK (Reuters) - Elon Musk's job as Tesla Inc's chief executive appeared safe on Thursday as a federal judge in Manhattan urged the billionaire to settle contempt allegations by the U.S. Securities and Exchange Commission over his use of Twitter. At a hearing in Manhattan federal court, U.S. District Judge Alison Nathan gave both sides two weeks to work out their differences, and said she could rule on whether Musk violated his recent fraud settlement with the regulator if they failed. "Take a deep breath, put your reasonableness pants on, and work this out," the judge said. The hearing appeared to lift an overhang over Tesla, as the SEC stopped well short of recommending Musk's removal as chief executive or even from the electric car company's board. Instead, the regulator suggested that greater oversight of Musk's communications, including the threat of new fines if he backslides, was punishment enough, at least for now. "What this is to the SEC is strike two, and if there is another transgression they might seek a director and officer bar," said Peter Henning, a law professor at Wayne State University in Detroit and a former SEC lawyer. "They are just trying to send a message: be more careful." Nathan had been asked to hold Musk in contempt over a Feb. 19 tweet, where the SEC said he improperly posted material information about Tesla's vehicle production outlook without first seeking approval from its lawyers. The SEC said pre-approval was a core element of the October 2018 settlement, which resolved a lawsuit over a tweet last Aug. 7 where Musk said he had "funding secured" to take Tesla private at $420 per share. That settlement called for Musk to step down as Tesla's chairman, and levied $20 million civil fines each on Musk and the Palo Alto, California-based company. Musk declined to discuss the hearing as he left the courthouse, surrounded by a horde of reporters, photographers and television cameras, but said "I feel very loved here." In a statement provided later by Tesla, Musk said: "I have great respect for Judge Nathan, and I’m pleased with her decision today. The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement." TESLA ALSO FAULTED Tesla's share price tumbled 8.2% on Thursday, after the company on Wednesday night reported lower-than-expected vehicle deliveries, but recouped some early losses once Musk's job no longer appeared imperiled. The company built its reputation on luxury cars, but has faced several production challenges with its Model 3 sedan, which it hopes will reach a mass audience. "Elon Musk was very well composed in the court today, which means he's taking it seriously," Craig Irwin, a Roth Capital Partners analyst who attended the hearing, said in an interview. He called Nathan's order "a good outcome for Tesla investors." Irwin rates Tesla "neutral." The battle concerned a tweet that Musk sent to his more than 24 million Twitter followers: "Tesla made 0 cars in 2011, but will make around 500k in 2019," meaning 500,000 vehicles. Four hours later, Musk corrected himself, saying annualized production would be "probably around" 500,000 by year end, with full-year deliveries totaling about 400,000. The SEC said the earlier tweet conflicted with Tesla's Jan. 30 outlook, when it targeted annualized Model 3 production exceeding 500,000 as soon as the fourth quarter, and projected 360,000 to 400,000 vehicle deliveries this year. Musk's lawyers countered that the earlier tweet contained nothing new, and that the SEC had conceded during settlement talks that Musk did not need pre-approval for all tweets about Tesla. RESPECT FOR JUSTICE SYSTEM At the hearing, SEC lawyer Cheryl Crumpton said a contempt finding could require Musk to file regular reports about how Tesla lawyers are overseeing his tweets. Noting that Musk had called his $20 million fine "worth it," Crumpton said the threat of higher potential fines might also be needed to show that further violations would be "not worth it." Musk is worth $20.7 billion, according to Forbes magazine. Crumpton also faulted what she called Tesla's "troubling" conduct. "Tesla still appears to be unwilling to exercise any meaningful control over the conduct of its CEO," she said. Tesla was not accused of contempt. Musk's lawyer, John Hueston, countered that the "ambiguity" of the settlement made "the hard penalty of contempt" unfair. The "funding secured" tweet had sent Tesla's share price up as much as 13.3 percent. Musk's privatization plan was at best in an early stage, however, and financing was not in place. SEC Chairman Jay Clayton has said he does not favor draconian penalties that could harm investors, saying when Musk settled that "the skills and support of certain individuals may be important to the future success of a company." Musk remains an outspoken critic of the SEC. Since the case began, he has dubbed the regulator the "Shortseller Enrichment Commission," recalling his attacks on investors who sell Tesla stock short. And in the early morning of Feb. 26, after the SEC filed its contempt motion, Musk tweeted: "Something is broken with SEC oversight." As he prepared to enter the courthouse, Musk told reporters: "I have a great respect for the justice system." Asked whether he also respected the SEC, Musk laughed, before turning to go inside. (Reporting by Brendan Pierson and Jonathan Stempel in New York; Additional reporting by Alexandria Sage in San Francisco, Michelle Price and Jan Wolfe in Washington, and Sayanti Chakraborty in Bengaluru; Editing by Lisa Shumaker) |
https://finance.yahoo.com/news/teslas-elon-musk-square-off-100324672.html | 2019-04-04 23:50:18+00:00 | null | null | Reuters | https://www.reuters.com/ | Elon Musk safe for now as U.S. judge urges Tesla CEO, SEC to end tweet dispute | By Brendan Pierson and Jonathan Stempel NEW YORK (Reuters) - Elon Musk's job as Tesla Inc's chief executive appeared safe on Thursday as a federal judge in Manhattan urged the billionaire to settle contempt allegations by the U.S. Securities and Exchange Commission over his use of Twitter. At a hearing in Manhattan federal court, U.S. District Judge Alison Nathan gave both sides two weeks to work out their differences, and said she could rule on whether Musk violated his recent fraud settlement with the regulator if they failed. "Take a deep breath, put your reasonableness pants on, and work this out," the judge said. The hearing appeared to lift an overhang over Tesla, as the SEC stopped well short of recommending Musk's removal as chief executive or even from the electric car company's board. Instead, the regulator suggested that greater oversight of Musk's communications, including the threat of new fines if he backslides, was punishment enough, at least for now. "What this is to the SEC is strike two, and if there is another transgression they might seek a director and officer bar," said Peter Henning, a law professor at Wayne State University in Detroit and a former SEC lawyer. "They are just trying to send a message: be more careful." Nathan had been asked to hold Musk in contempt over a Feb. 19 tweet, where the SEC said he improperly posted material information about Tesla's vehicle production outlook without first seeking approval from its lawyers. The SEC said pre-approval was a core element of the October 2018 settlement, which resolved a lawsuit over a tweet last Aug. 7 where Musk said he had "funding secured" to take Tesla private at $420 per share. That settlement called for Musk to step down as Tesla's chairman, and levied $20 million civil fines each on Musk and the Palo Alto, California-based company. Musk declined to discuss the hearing as he left the courthouse, surrounded by a horde of reporters, photographers and television cameras, but said "I feel very loved here." Story continues In a statement provided later by Tesla, Musk said: "I have great respect for Judge Nathan, and Im pleased with her decision today. The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement." TESLA ALSO FAULTED Tesla's share price tumbled 8.2% on Thursday, after the company on Wednesday night reported lower-than-expected vehicle deliveries, but recouped some early losses once Musk's job no longer appeared imperiled. The company built its reputation on luxury cars, but has faced several production challenges with its Model 3 sedan, which it hopes will reach a mass audience. "Elon Musk was very well composed in the court today, which means he's taking it seriously," Craig Irwin, a Roth Capital Partners analyst who attended the hearing, said in an interview. He called Nathan's order "a good outcome for Tesla investors." Irwin rates Tesla "neutral." The battle concerned a tweet that Musk sent to his more than 24 million Twitter followers: "Tesla made 0 cars in 2011, but will make around 500k in 2019," meaning 500,000 vehicles. Four hours later, Musk corrected himself, saying annualized production would be "probably around" 500,000 by year end, with full-year deliveries totaling about 400,000. The SEC said the earlier tweet conflicted with Tesla's Jan. 30 outlook, when it targeted annualized Model 3 production exceeding 500,000 as soon as the fourth quarter, and projected 360,000 to 400,000 vehicle deliveries this year. Musk's lawyers countered that the earlier tweet contained nothing new, and that the SEC had conceded during settlement talks that Musk did not need pre-approval for all tweets about Tesla. RESPECT FOR JUSTICE SYSTEM At the hearing, SEC lawyer Cheryl Crumpton said a contempt finding could require Musk to file regular reports about how Tesla lawyers are overseeing his tweets. Noting that Musk had called his $20 million fine "worth it," Crumpton said the threat of higher potential fines might also be needed to show that further violations would be "not worth it." Musk is worth $20.7 billion, according to Forbes magazine. Crumpton also faulted what she called Tesla's "troubling" conduct. "Tesla still appears to be unwilling to exercise any meaningful control over the conduct of its CEO," she said. Tesla was not accused of contempt. Musk's lawyer, John Hueston, countered that the "ambiguity" of the settlement made "the hard penalty of contempt" unfair. The "funding secured" tweet had sent Tesla's share price up as much as 13.3 percent. Musk's privatization plan was at best in an early stage, however, and financing was not in place. SEC Chairman Jay Clayton has said he does not favor draconian penalties that could harm investors, saying when Musk settled that "the skills and support of certain individuals may be important to the future success of a company." Musk remains an outspoken critic of the SEC. Since the case began, he has dubbed the regulator the "Shortseller Enrichment Commission," recalling his attacks on investors who sell Tesla stock short. And in the early morning of Feb. 26, after the SEC filed its contempt motion, Musk tweeted: "Something is broken with SEC oversight." As he prepared to enter the courthouse, Musk told reporters: "I have a great respect for the justice system." Asked whether he also respected the SEC, Musk laughed, before turning to go inside. (Reporting by Brendan Pierson and Jonathan Stempel in New York; Additional reporting by Alexandria Sage in San Francisco, Michelle Price and Jan Wolfe in Washington, and Sayanti Chakraborty in Bengaluru; Editing by Lisa Shumaker) |
https://finance.yahoo.com/news/apos-why-resources-connection-fell-235400649.html | 2019-04-04 23:54:00+00:00 | [] | Lou Whiteman, The Motley Fool | Motley Fool | http://www.fool.com/ | Here's Why Resources Connection Fell 15% on Thursday | Shares ofResources Connection(NASDAQ: RECN)fell 15.2% on Thursday after the consulting firm reported fiscal third-quarter results that fell short of estimates due to weakness in Europe.
Resources Connection, a former unit of international accounting firm Deloitte, said on April 3 that fiscal third-quarter revenue rose 4.1% year over year, to $179.5 million, and non-GAAPearnings per share, at $0.20, was more than double the $0.09 it earned a year prior. But those results fell short of the two-analyst consensus forecast for $0.21 per share in earnings on sales of $184.2 million.
Image source: Getty Images.
Company CEO Kate Duchene said Resources Connection faced "macro headwinds" in Europe, where sales were down nearly 10%, or 3.5% in constant currency, but she noted that the U.S. and Asia Pacific regions reported growth of 6% and 4%, respectively. In the U.S., Resource Connection is also dealing with the ramifications of issues including the government shutdown and thepotential trade war, which the company says is causing clients in some cases to delay making strategic decisions.
The company's thinly traded shares changed hands on Thursday at about six times their 202,000 per-day average volume.
Duchene said that despite the European issues, she's pleased with the progress made improving bill rates and expanding the company's product mix toward more profitable solutions offerings.On a call with investorsfollowing the release, she said that "90% of our top 50 clients have used more than one type of service or functional expertise, and this penetration reflects the diversity of relationships we continue to build within our clients organization, and reinforces the opportunity for growth."
Management might be optimistic, but the market on Thursday was in no mood to hang around and find out what the next quarter will bring.
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https://finance.yahoo.com/news/samsung-electronics-says-first-quarter-234847603.html | 2019-04-04 23:56:38+00:00 | null | null | Reuters | https://www.reuters.com/ | Samsung Electronics says first quarter profit likely fell 60 percent as chip prices hit | SEOUL (Reuters) - South Korea's Samsung Electronics Co Ltd said on Friday its first-quarter operating profit likely slid 60 percent from a year earlier, as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins. The world's biggest maker of smartphones and memory chips said in a filing January-March profit was likely 6.2 trillion won (£4.2 billion), missing the 6.8 trillion won estimate from analysts according to Refinitiv SmartEstimate. Revenue likely fell 14 percent from a year earlier to 52 trillion won. The firm will disclose detailed earnings in late April. The Apple Inc supplier and rival earlier had warned the quarter could be disappointing due to falls in prices of memory chips, its core profit-driver, and slowing demand for display panels used in Apple's iPhones. Samsung's smartphones meanwhile are struggling to be profitable due to rising costs of innovation, competition from Chinese rivals and weakening demand for premium models, analysts have said. Even so, the firm's share price has leapt more than 25 percent since sinking to a two-year low in early January as some investors bet on a recovery in chip demand. The tech giant says earnings are expected to recover in the second half of the year thanks to rising demand from data centres, where data is stored remotely or in so-called cloud servers. (Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates) |
https://finance.yahoo.com/news/suspect-formally-charged-nipsey-hussle-murder-due-court-205551779.html | 2019-04-04 23:58:18+00:00 | null | null | Reuters | https://www.reuters.com/ | Suspect formally charged in Nipsey Hussle murder, due in court | By Dan Whitcomb LOS ANGELES (Reuters) - A Los Angeles man pleaded innocent on Thursday to killing Grammy-nominated rapper Nipsey Hussle and was ordered held on $5 million bail. Eric Ronald Holder, who was arrested earlier this week in connection with the fatal shooting, entered his pleas to murder and attempted murder charges through his attorney during a brief hearing in Los Angeles Superior Court. Holder, who was formally charged earlier in the day, appeared in court behind bars in a holding cell and spoke only to acknowledge his rights. The 29-year-old defendant was represented in the high-profile case by Chris Darden, who as a Los Angeles County deputy district attorney in the 1990s unsuccessfully prosecuted former football star O.J. Simpson for murder. Darden asked Los Angeles Superior Court Judge Teresa Sullivan to ban cameras from the courtroom, a request she denied. Darden declined to speak to reporters as he left the courtroom. Hussle, whose real name was Ermias Asghedom, was shot multiple times on March 31 outside his Marathon Clothing store in south Los Angeles. Two other people were wounded in the gunfire. PERSONAL DISPUTE Holder was taken into custody on Tuesday in the Los Angeles suburb of Bellflower after a tipster called to report seeing the man police had named as a suspect. Investigators have said that the slaying was motivated by a personal dispute between the two men, but have declined to elaborate. Holder faces a maximum sentence of life in prison without the possibility of parole if convicted at trial. A woman who drove Holder away from the scene has not been arrested or charged in the case. The Los Angeles Times reported on Thursday that Holder was an aspiring rapper and suspected gang member who went by the nickname "Fly Mac". He has a previous conviction for carrying a loaded firearm. On Monday, a disturbance erupted at a vigil for Hussle, setting off a stampede that critically injured two people. Hussle's debut studio album, "Victory Lap," was nominated for Best Rap Album at this year's Grammy Awards and his death prompted tributes on social media. The rapper, who was of Eritrean descent and grew up in south Los Angeles, has said that he once belonged to a street gang. More recently he had parlayed his fame into a role as a community organizer and activist. Hussle wrote "having strong enemies is a blessing" in a Twitter post on the day of his death. (Reporting by Dan Whitcomb; Editing by Dan Grebler and Richard Chang) |
https://finance.yahoo.com/news/samsung-elec-says-first-quarter-234320207.html | 2019-04-04 23:58:46+00:00 | null | null | Reuters | https://www.reuters.com/ | Samsung Elec says first quarter profit likely fell 60 percent as chip prices hit | SEOUL (Reuters) - South Korea's Samsung Electronics Co Ltd said on Friday its first-quarter operating profit likely slid 60 percent from a year earlier, as a glut in memory chips, slowing panel sales and rising competition in smartphones hit margins. The world's biggest maker of smartphones and memory chips said in a filing January-March profit was likely 6.2 trillion won ($5.5 billion), missing the 6.8 trillion won estimate from analysts according to Refinitiv SmartEstimate. Revenue likely fell 14 percent from a year earlier to 52 trillion won. The firm will disclose detailed earnings in late April. The Apple Inc supplier and rival earlier had warned the quarter could be disappointing due to falls in prices of memory chips, its core profit-driver, and slowing demand for display panels used in Apple's iPhones. Samsung's smartphones meanwhile are struggling to be profitable due to rising costs of innovation, competition from Chinese rivals and weakening demand for premium models, analysts have said. Even so, the firm's share price has leapt more than 25 percent since sinking to a two-year low in early January as some investors bet on a recovery in chip demand. The tech giant says earnings are expected to recover in the second half of the year thanks to rising demand from data centres, where data is stored remotely or in so-called cloud servers. (Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates) View comments |
https://finance.yahoo.com/news/did-manage-avoid-indoor-skydive-235847153.html | 2019-04-04 23:58:47+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Did You Manage To Avoid Indoor Skydive Australia Group's (ASX:IDZ) 97% Share Price Wipe Out? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
Indoor Skydive Australia Group Limited(ASX:IDZ) shareholders will doubtless be very grateful to see the share price up 233% in the last month. But spare a thought for the long term holders, who have held the stock as it bled value over the last five years. Five years have seen the share price descend precipitously, down a full 97%. So we don't gain too much confidence from the recent recovery. The important question is if the business itself justifies a higher share price in the long term.
We really hope anyone holding through that price crash has a diversified portfolio. Even when you lose money, you don't have to lose the lesson.
See our latest analysis for Indoor Skydive Australia Group
Because Indoor Skydive Australia Group is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. When a company doesn't make profits, we'd generally expect to see good revenue growth. As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.
In the last half decade, Indoor Skydive Australia Group saw its revenue increase by 33% per year. That's well above most other pre-profit companies. So on the face of it we're really surprised to see the share price has averaged a fall of 52% each year, in the same time period. You'd have to assume the market is worried that profits won't come soon enough. We'd recommend carefully checking for indications of future growth - and balance sheet threats - before considering a purchase.
The graphic below shows how revenue and earnings have changed as management guided the business forward. If you want to see cashflow, you can click on the chart.
We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. Thisfreeinteractive report on Indoor Skydive Australia Group'searnings, revenue and cash flowis a great place to start, if you want to investigate the stock further.
Investors in Indoor Skydive Australia Group had a tough year, with a total loss of 89%, against a market gain of about 13%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 52% over the last half decade. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. 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.
Indoor Skydive Australia Group is not the only stock insiders are buying. So take a peek at thisfreelist of growing companies with insider buying.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU exchanges.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [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/investors-bought-bigbloc-construction-nse-235855413.html | 2019-04-04 23:58:55+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Investors Who Bought Bigbloc Construction (NSE:BIGBLOC) Shares A Year Ago Are Now Down 81% | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
It's not a secret that every investor will make bad investments, from time to time. But it would be foolish to simply accept every extremely large loss as an inevitable part of the game. So we hope that those who heldBigbloc Construction Limited(NSE:BIGBLOC) during the last year don't lose the lesson, in addition to the 81% hit to the value of their shares. A loss like this is a stark reminder that portfolio diversification is important. We wouldn't rush to judgement on Bigbloc Construction because we don't have a long term history to look at. In contrast, the stock price has popped 9.8% in the last thirty days. However, this may be a matter of broader market optimism, since stocks are up 6.3% in the same time.
We really feel for shareholders in this scenario. It's a good reminder of the importance of diversification, and it's worth keeping in mind there's more to life than money, anyway.
Check out our latest analysis for Bigbloc Construction
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
Unhappily, Bigbloc Construction had to report a 39% decline in EPS over the last year. The share price decline of 81% is actually more than the EPS drop. So it seems the market was too confident about the business, a year ago.
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. Before buying or selling a stock, we always recommend a close examination ofhistoric growth trends, available here..
While Bigbloc Construction shareholders are down 81% for the year (even including dividends), the market itself is up 3.9%. While the aim is to do better than that, it's worth recalling that even great long-term investments sometimes underperform for a year or more. The share price decline has continued throughout the most recent three months, down 1.6%, suggesting an absence of enthusiasm from investors. Given the relatively short history of this stock, we'd remain pretty wary until we see some strong business performance. If you would like to research Bigbloc Construction in more detail then you might want totake a look at whether insiders have been buying or selling shares in the company.
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 IN 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/why-t-perfect-dividend-investors-000000879.html | 2019-04-05 00:00:00+00:00 | [] | Ashraf Eassa, The Motley Fool | Motley Fool | http://www.fool.com/ | Why AT&T Is Perfect for Dividend Investors | The chances are high that you've heard ofAT&T(NYSE: T), as it's one of the world's largest telecommunications companies. It's also a financial powerhouse, raking in $170.8 billion in revenue in 2018 and throwing off a whopping $22.4 billion infree cash flow.
To be quite frank, AT&T stock isn't going to be at the top of any growth investor's list -- the company is expected to see its revenue grow by 7.8% in 2019 before slowing to just 0.4% in 2020. Moreover, it's not a stock investors can reliably count on for share-price appreciation, as the shares have effectively been trading sideways for years.
But if you're a dividend-focused investor looking to put your capital to work to build a large and growing income stream, then AT&T is a really interesting stock. Allow me to explain.
Image source: Getty Images.
At its current price, AT&T stock pays a dividend yield of about 6.45%. Moreover, that yield isn't some sort of unsustainable trap -- AT&T generatesmore than enough free cash flow to easily cover that yield as well as execute on its plan of paying down its sizable debt load. (AT&T has made a lot of sizable acquisitions over the years.)
AT&T also has a long track record of raising its dividend payments each year. Granted, those dividend raises haven't been particularly large in recent years -- the company has boosted its quarterly dividend by a penny each year for many years now. I also expect that when AT&T gets around to boosting its dividend early next year, it'll be another $0.01 per share jump.
Another thing to consider is that the business in which AT&T participates is quite dependable. Even in economic downturns, people are still going to need to use cell phones (AT&T is a major wireless carrier), they're still going to want to watch TV, and businesses are still going to need their wireline connections. That's not to say AT&T wouldn't suffer in a recession, but it'd still likely generate enough cash to fuel its dividend.
Indeed, for some perspective, AT&T's annual dividend payments currently work out to $2.04 per share. The company's free cash flow per share over the last 12 months came out to about $3.36. This means AT&T can, in theory, sustain its current dividend (or, frankly, an even larger one) even if its free cash flow were to see a significant, temporary decline.
Moreover, if you look at the trend in AT&T's free cash flow per share, you'll note that even during the financial crisis, that value stayed well above $2 per share.
T Free Cash Flow Per Share (TTM)data byYCharts.
AT&T is a resilient business, and that resilience should make it attractive to dividend investors.
If you're investing in a stock like AT&T, then your investment objective probably isn't to multiply your money in a relatively short amount of time -- you're probably looking to build out a dependable stream of passive income. For a high-yielding stock like AT&T, a share price that effectively goes nowhere can actually be advantageous in that pursuit.
The idea goes something like this. Suppose you were to invest $500,000 in AT&T stock at $32 per share (slightly higher than what it's trading at as of this writing). At that share price, you'd be able to buy about 15,625 shares. Those shares would provide you with income of $32,211 per year. Now, suppose that AT&T stock doesn't budge, and over the next decade, you reinvest the dividends that you get from AT&T straight into more AT&T stock.
Also, for the sake of simplicity, suppose AT&T raises its quarterly dividend by $0.01 each year. Here's how such a hypothetical portfolio and dividend payment schedule would evolve over that time.
[{"Year": "1", "Number of Shares (rounded to the nearest tenth)": "15,625", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$500,000", "Annual Income Stream (rounded to the nearest cent)": "$31,875"}, {"Year": "2", "Number of Shares (rounded to the nearest tenth)": "16,621.1", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$531,875", "Annual Income Stream (rounded to the nearest cent)": "$34,571.89"}, {"Year": "3", "Number of Shares (rounded to the nearest tenth)": "17,701.5", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$566,432", "Annual Income Stream (rounded to the nearest cent)": "$37,527.18"}, {"Year": "4", "Number of Shares (rounded to the nearest tenth)": "18,874.2", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$603,975", "Annual Income Stream (rounded to the nearest cent)": "$40,768.27"}, {"Year": "5", "Number of Shares (rounded to the nearest tenth)": "20,148.2", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$644,742", "Annual Income Stream (rounded to the nearest cent)": "$44,326.04"}, {"Year": "6", "Number of Shares (rounded to the nearest tenth)": "21,533.2", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$689,062", "Annual Income Stream (rounded to the nearest cent)": "$48,234.35"}, {"Year": "7", "Number of Shares (rounded to the nearest tenth)": "23,040.5", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$737,296", "Annual Income Stream (rounded to the nearest cent)": "$52,542.37"}, {"Year": "8", "Number of Shares (rounded to the nearest tenth)": "24,682.5", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$789,840", "Annual Income Stream (rounded to the nearest cent)": "$57,263.40"}, {"Year": "9", "Number of Shares (rounded to the nearest tenth)": "26,472.0", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$847,103", "Annual Income Stream (rounded to the nearest cent)": "$62,473.92"}, {"Year": "10", "Number of Shares (rounded to the nearest tenth)": "28,424.3", "Portfolio Value (Assuming AT&T stock stays at $32. Rounded to nearest dollar)": "$909,578", "Annual Income Stream (rounded to the nearest cent)": "$68,217.60"}]
Author calculations.
In just 10 years, a $500,000 investment would grow to more than $900,000, and the income the portfolio would generate would grow from less than $32,000 to more than $68,000 under these assumptions.
Now, keep in mind that inflation makes it so that a certain amount of money 10 years from now doesn't have the same purchasing power that the same amount of money would have today. Nevertheless, a high-yielding stock with a steadily increasing dividend and a relatively flat share price can still be interesting to the right kind of investor.
Dividend investing is great because it leverages the power of compounding to help investors build wealth over time. If dividend investing is something you're interested in, then AT&T, with its strong core business and large and growing dividend, is a dividend stock worth considering.
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Ashraf Eassahas 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/person-claimed-child-missing-eight-years-ohio-ex-000310915.html | 2019-04-05 00:03:10+00:00 | null | null | Reuters | https://www.reuters.com/ | Person who claimed to be child missing for eight years is Ohio ex-convict | (Reuters) - The person who claimed to be Illinois teen Timmothy Pitzen, who went missing eight years ago, is a grown man with a criminal record, according to the FBI and state records. Brian Michael Rini, 23, told police in the Kentucky town of Newport that he had escaped kidnappers and was Timmothy, who would now be 14 years old, briefly raising hope the long-lost boy had been found, FBI spokesman Todd Lindgren said. Timmothy was last seen after his mother pulled him out of school in Aurora, Illinois, a far-west suburb of Chicago, and then committed suicide. Lindgren, of the agency's Cincinnati bureau, said on Thursday that DNA tests conducted at the Cincinnati Children's Hospital showed that the person who claimed to be Timmothy was in fact Rini. The story that Timmothy might have been found spread quickly online Wednesday, as users weighed in to say they prayed for the child's safe return. Police, however, were cautious throughout the investigation, refusing to discuss the case until DNA results came back. "Law enforcement has not and will not forget Timmothy, and we hope to one day reunite him with his family," the FBI said after the tests. "Unfortunately, that day will not be today." Speaking at a news conference posted online, Timmothy's aunt, Karla Jacobs, urged compassion for Rini. "We know you are out there somewhere Tim and we will never stop looking for you, praying for you and loving you," she said. "We hope that everyone will join us in praying for the young man who claims to be Timmothy Pitzen." A public records search in Ohio showed Rini was released from the Belmont Correctional Institution on March 7, where he had been serving 14 months for burglary and vandalism. Timmothy Pitzen disappeared in May 2011 at the age of 6, after his mother, Amy Fry-Pitzen, pulled him out of school and took him on a trip to a zoo and a water park. She committed suicide soon afterward in a motel room, leaving a note that local media said made the boy's whereabouts a mystery. "Tim is somewhere safe with people who love him and will care for him," she wrote in the note, according to reports by ABC7 Chicago. "You will never find him." (Reporting by Gina Cherelus in New York and Sharon Bernstein in Sacramento, California; Editing by James Dalgleish and Peter Cooney) |
https://finance.yahoo.com/news/expect-great-wall-motor-company-000345172.html | 2019-04-05 00:03:45+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | What Should We Expect From Great Wall Motor Company Limited's (HKG:2333) Earnings In The Years Ahead? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
The most recent earnings announcement Great Wall Motor Company Limited's (HKG:2333) released in December 2018 indicated that the company gained from a slight tailwind, leading to a single-digit earnings growth of 3.6%. Below, I've presented key growth figures on how market analysts predict Great Wall Motor's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. Note that I will be looking at net income excluding extraordinary items to get a better understanding of the underlying drivers of earnings.
View our latest analysis for Great Wall Motor
Analysts' expectations for this coming year seems pessimistic, with earnings declining by -0.5%. But in the following year, there is a complete contrast in performance, with reaching double digit 8.0% compared to today’s level and continues to increase to CN¥6.0b in 2022.
Although it is helpful to understand the rate of growth year by year relative to today’s figure, it may be more insightful to gauge the rate at which the company is moving every year, on average. The benefit of this technique is that we can get a bigger picture of the direction of Great Wall Motor's earnings trajectory over the long run, irrespective of near term fluctuations, which may be more relevant for long term investors. To compute this rate, I put a line of best fit through the forecasted earnings by market analysts. The slope of this line is the rate of earnings growth, which in this case is 5.1%. This means that, we can assume Great Wall Motor will grow its earnings by 5.1% every year for the next few years.
For Great Wall Motor, I've put together three important factors you should further examine:
1. Financial Health: Does it have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk.
2. Valuation: What is 2333 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 2333 is currently mispriced by the market.
3. Other High-Growth Alternatives: Are there other high-growth stocks you could be holding instead of 2333? Exploreour interactive list of stocks with large growth 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/know-buying-hotel-grand-central-000755122.html | 2019-04-05 00:07:55+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Know This Before Buying Hotel Grand Central Limited (SGX:H18) For Its Dividend | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. Historically, Hotel Grand Central Limited (SGX:H18) has been paying a dividend to shareholders. Today it yields 2.9%. Should it have a place in your portfolio? Let's take a look at Hotel Grand Central in more detail.
See our latest analysis for Hotel Grand Central
If you are a dividend investor, you should always assess these five key metrics:
• Does it pay an annual yield higher than 75% of dividend payers?
• Has it paid dividend every year without dramatically reducing payout in the past?
• Has the amount of dividend per share grown over the past?
• Can it afford to pay the current rate of dividends from its earnings?
• Will it be able to continue to payout at the current rate in the future?
The company currently pays out 103% of its earnings as a dividend, according to its trailing twelve-month data, which means that the dividend is not well-covered by its 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.
When thinking about whether a dividend is sustainable,another factor to consider is the cash flow. A business with strong cash flow can sustain a higher divided payout ratio than a company with weak cash flow.
If there's one type of stock you want to be reliable, it's dividend stocks and their stable income-generating ability. Whilst its per-share payments have increased during the past 10 years, there has been some hiccups. Shareholders would have seen a few years of reduced payments in this time.
Relative to peers, Hotel Grand Central generates a yield of 2.9%, which is high for Hospitality stocks but still below the market's top dividend payers.
After digging a little deeper into Hotel Grand Central's yield, it's easy to see why you should be cautious investing in the company just for the dividend. But if you are not exclusively a dividend investor, the stock could still be an interesting investment opportunity. Given that this is purely a dividend analysis, I recommend taking sufficient time to understand its core business and determine whether the company and its investment properties suit your overall goals. Below, I've compiled three important aspects you should look at:
1. Future Outlook: What are well-informed industry analysts predicting for H18’s future growth? Take a look at ourfree research report of analyst consensusfor H18’s outlook.
2. Valuation: What is H18 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 H18 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/does-investing-freedom-oil-gas-001216946.html | 2019-04-05 00:12:16+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | How Does Investing In Freedom Oil and Gas Ltd (ASX:FDM) Impact The Volatility Of Your Portfolio? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
If you're interested in Freedom Oil and Gas Ltd (ASX:FDM), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. Volatility is considered to be a measure of risk in modern finance theory. Investors may think of volatility as falling into two main categories. The first type is company specific volatility. Investors use diversification across uncorrelated stocks to reduce this kind of price volatility across the portfolio. The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market.
Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). However, Warren Buffett said 'volatility is far from synonymous with risk' in his 2014 letter to investors. So, while useful, beta is not the only metric to consider. To use beta as an investor, you must first understand that the overall market has a beta of one. Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.
View our latest analysis for Freedom Oil and Gas
Given that it has a beta of 1.41, we can surmise that the Freedom Oil and Gas share price has been fairly sensitive to market volatility (over the last 5 years). If the past is any guide, we would expect that Freedom Oil and Gas shares will rise quicker than the markets in times of optimism, but fall faster in times of pessimism. Beta is worth considering, but it's also important to consider whether Freedom Oil and Gas is growing earnings and revenue. You can take a look for yourself, below.
With a market capitalisation of AU$79m, Freedom Oil and Gas is a very small company by global standards. It is quite likely to be unknown to most investors. Relatively few investors can influence the price of a smaller company, compared to a large company. This could explain the high beta value, in this case.
Since Freedom Oil and Gas has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment. For example, it might be a high growth stock or have a lot of operating leverage in its business model. This article aims to educate investors about beta values, but it's well worth looking at important company-specific fundamentals such as Freedom Oil and Gas’s financial health and performance track record. I urge you to continue your research by taking a look at the following:
1. Financial Health: Are FDM’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out ourfinancial health checks here.
2. Past Track Record: Has FDM been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of FDM's historicalsfor more clarity.
3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [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/much-berger-paints-india-limited-001227447.html | 2019-04-05 00:12:27+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | How Much Are Berger Paints India Limited (NSE:BERGEPAINT) Insiders Taking Off The Table? | Want to participate in aresearch study? Help shape the future of investing tools and earn a $60 gift card!
It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So before you buy or sellBerger Paints India Limited(NSE:BERGEPAINT), you may well want to know whether insiders have been buying or selling.
It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, most countries require that the company discloses such transactions to the market.
Insider transactions are not the most important thing when it comes to long-term investing. But it is perfectly logical to keep tabs on what insiders are doing. As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'
View our latest analysis for Berger Paints India
There wasn't any very large single transaction over the last year, but we can still observe some trading.
Deeksha Gujral ditched 10.70k shares over the year. The average price per share was ₹332. The chart below shows insider transactions (by individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
If you are like me, then you willnotwant to miss thisfreelist of growing companies that insiders are buying.
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Berger Paints India insiders own 2.5% of the company, currently worth about ₹8.0b based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
The fact that there have been no Berger Paints India insider transactions recently certainly doesn't bother us. It's heartening that insiders own plenty of stock, but we'd like to see more insider buying, since the last year of Berger Paints India insider transactions don't fill us with confidence. Of course,the future is what matters most. So if you are interested in Berger Paints India, you should check out thisfreereport on analyst forecasts for the company.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, that have HIGH return on equity and low debt.
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/yay-or-nay-new-york-jets-reveal-their-biggest-uniform-overhaul-in-a-long-time-001305920.html | 2019-04-05 00:13:05+00:00 | null | null | Yahoo Sports | https://sports.yahoo.com/ | New York Jets unveil new uniforms for 2019 season | The New York Jets didn’t change from their traditional green to purple or anything, but they’re going to look significantly different in 2019. The Jets revealed their new uniform redesign on Thursday at a black-tie event emceed by comedian J.B. Smoove at Gotham Hall in New York City, and it’s a pretty big departure for a franchise that hasn’t had too many drastic uniform changes through the years. The Jets unveiled three colors: “Gotham Green,” “Spotlight White” and “Stealth Black” as an alternate. The beginning of a new legacy. #TakeFlight pic.twitter.com/oaGidDB65B — New York Jets (@nyjets) April 4, 2019 Here are some screenshots from their release party: Receiver Quincy Enunwa models the Jets' "Gotham Green" uniform. (Twitter.com/nyjets screen shot) Tight end Chris Herndon and receiver Robby Anderson in the Jets' new white uniforms. (Twitter.com/nyjets screen shot) Leonard Williams shows off the new black alternate Jets jersey. (Twitter.com/nyjets screen shot) And some tweets from the team: Developed to captivate and electrify. #TakeFlight 📸 https://t.co/fW12oNzS2u pic.twitter.com/FIz4cb8vKE — New York Jets (@nyjets) April 5, 2019 Built to perform on the biggest stage. #TakeFlight 📸 https://t.co/ucKTezjDID pic.twitter.com/z2o5gq6Gnh — New York Jets (@nyjets) April 5, 2019 Inspired by the toughness and grit of New York. #TakeFlight 📸 https://t.co/E0VY28MR7o pic.twitter.com/vBgDkmkd4B — New York Jets (@nyjets) April 5, 2019 When an unverified picture of the Jets’ new uniforms was leaked, the jokes began, including an unexpected haymaker from Steelers linebacker Ryan Shazier. Story continues These 🗑🗑🗑! No lie. Look like high school jerseys on road to glory. 🤦🏽♂️🤦🏽♂️ https://t.co/CZobFKv7zl — Ryan Shazier (@RyanShazier) April 4, 2019 Nobody is ever going to have a universally positive reaction to new jerseys, especially not on social media in 2019. The new look is pretty sleek though. It might take some time to get used to it, but it’s not a bad look at all for the Jets. The Jets’ uniforms have been similar through the years, with some fairly minor changes. The biggest change was probably when the team moved from “Jets” on the helmet within a football, to “Jets” on its own, a look that it wore through the 1980s. Then when throwbacks started becoming hot in the late 1990s, the team switched back to the football “Jets” logo from the Joe Namath era. The stripes and fonts on the numbers have changed some, but for the most part it has been a familiar uniform through the years. Now that the Jets’ uniforms are officially unveiled, is it a thumbs up or down? 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 – – – – – – – Frank Schwab is a writer for Yahoo Sports. Have a tip? Email him at [email protected] or follow him on Twitter! Follow @YahooSchwab |
https://finance.yahoo.com/news/dogecoin-hits-big-leagues-elon-001323335.html | 2019-04-05 00:13:23+00:00 | [] | P. H. Madore | CCN | https://www.ccn.com/ | Dogecoin Hits the Big Leagues: Elon Musk’s Favorite Cryptocurrency Now Listed by Huobi | Veteran exchangeHuobiannounced today that it would belisting three pairs for Dogecoin: DOGE/BTC, DOGE/ETH, and DOGE/USDT.
Dogecoin recentlyexperienced a significant pumpbut has corrected on its BTC peg in the interim. The limitless supply cryptocurrency created by Jackson Palmer in 2014 has historically ranged between 50 and 100 Satoshis per coin, sometimes reaching as high as 2-300.
The currency is widely traded and used in many places that also accept Bitcoin, Litecoin, and Ethereum, including gambling sites and payment processors. Notably, it is one of the oldest cryptocurrencies with a reasonable hashrate not to be offered by Coinbase for sale.
Huobi writes in their announcement:
In a dedicated effort to provide our customers with carefully vetted and high-quality trading options, we are announcing support for a new addition to the Huobi Marketplace: Dogecoin (DOGE).
Perhaps intentionally, the team did not announce this news on April fool’s day, when people might have taken that wording for a joke. While some still view Dogecoin as a “joke,” we have previously noted here that the cryptocurrency – based on a meme – maintains a high degree of liquidity and trading platforms.
Aside from Huobi,several other exchangesoffer stablecoin pairs for Dogecoin, which enables traders to visualize a fiat value for the crypto. Huobi Global (hbg.com) is the eighth largest crypto exchange by trading volume, as of press time. Trading and withdrawals will begin a few hours from now, at 7 PM PST. You can deposit on Huobi.com and HBG.com.
Read the full story on CCN.com. |
https://finance.yahoo.com/news/why-shares-plug-power-skyrocketed-001500343.html | 2019-04-05 00:15:00+00:00 | [] | Scott Levine, The Motley Fool | Motley Fool | http://www.fool.com/ | Why Shares of Plug Power Skyrocketed 34% in March | Shares of fuel cell makerPlug Power(NASDAQ: PLUG)climbed 34% in March, according to data fromS&P Global Market Intelligence. Consequently, shares have nearly doubled since the start of the year.
While the release of the company'sQ4 earningsmotivated some investors to pick up shares early in the month, the bullish momentum extended through the rest of the month thanks to an analyst's resumption of coverage on the stock and management's concerted effort torebuild trustwith shareholders.
Image source: Getty Images.
In early March, Plug Power treated its shareholders to something that they had never enjoyed before: an earnings report featuring positive adjustedEBITDA. The $500,000 adjusted EBITDA that the company reported may not seem substantial, but in light of the fact that Plug Power reported negative $7.6 million during the same period in 2017, it's certainly noteworthy. Suggesting that this progress toward profitability wouldn't be an isolated incident, management forecast the company would be adjusted-EBITDA positive in 2019.
Contributing to the momentum that Plug Power's stock gained after its earnings release, an analyst with B. Riley FBR, Christopher Van Horn, resumed coverage on the stock in mid-March according toTheFly.com. In addition to maintaining the buy rating, which B. Riley FBR previously had on the stock, the analyst maintained the price target of $3.50, which had been assigned during the stock's previous coverage.
Although company insiders will sell shares of their companies for a variety of reasons, they, presumably, will only buy shares for one reason: They expect the stocks to rise. So when Andy Marsh, Plug Power's CEO, kept his word in mid-March and followed through with his announced intent to adopt a 10b5-1 stock trading plan, picking up $30,000 in Plug's stock on the open market, investors took note. But he wasn't alone. The company's chairman of the board, George McNamee, also increased his position in the company, picking up 100,000 shares on the open market in a transaction valued at roughly $234,000.
But it wasn't only the stock purchases that helped the stock to gain favor in the eyes of investors. Seeking to rebuild trust with shareholders, Marsh also hosted an Ask Me Anything session on Quora in March, attempting to provide a greater sense of transparency. This followed a similar session that he hosted on Reddit in February.
While Plug Power, like March itself, roared loudly in the beginning of the month, the stock never let up, ending the month much like it began -- bearing little resemblance to a lamb. But it was Marsh's decision to put his money where his mouth is and pick up shares on the open market that I think spoke the loudest to investors last month -- that and his apparent commitment to improve the company's communication to shareholders.
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Scott Levinehas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/amara-holdings-limiteds-sgx-a34-001657303.html | 2019-04-05 00:16:57+00:00 | [] | Simply Wall St | Simply Wall St. | https://simplywall.st/ | Is Amara Holdings Limited's (SGX:A34) P/E Ratio Really That Good? | Want to participate in aresearch 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 look at Amara Holdings Limited's (SGX:A34) P/E ratio and reflect on what it tells us about the company's share price.Amara Holdings has a price to earnings ratio of 8.45, based on the last twelve months. That is equivalent to an earnings yield of about 12%.
Check out our latest analysis for Amara Holdings
Theformula for price to earningsis:
Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Or for Amara Holdings:
P/E of 8.45 = SGD0.47 ÷ SGD0.056 (Based on the year to December 2018.)
A higher P/E ratio means that buyers have to paya higher pricefor each SGD1 the company has earned over the last year. That isn't necessarily good or bad, but a high P/E implies relatively high expectations of what a company can achieve in the future.
Companies that shrink earnings per share quickly will rapidly decrease the 'E' in the equation. That means even if the current P/E is low, it will increase over time if the share price stays flat. So while a stock may look cheap based on past earnings, it could be expensive based on future earnings.
It's nice to see that Amara Holdings grew EPS by a stonking 34% in the last year. Unfortunately, earnings per share are down 6.4% a year, over 5 years.
We can get an indication of market expectations by looking at the P/E ratio. If you look at the image below, you can see Amara Holdings has a lower P/E than the average (20.2) in the hospitality industry classification.
Its relatively low P/E ratio indicates that Amara Holdings shareholders think it will struggle to do as well as other companies in its industry classification. While current expectations are low, the stock could be undervalued if the situation is better than the market assumes. It is arguably worth checkingif insiders are buying shares, because that might imply they believe the stock is undervalued.
Don't forget that the P/E ratio considers market capitalization. That means it doesn't take debt or cash into account. In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth.
Such 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.
Amara Holdings's net debt is considerable, at 118% of its market cap. This is a relatively high level of debt, so the stock probably deserves a relatively low P/E ratio. Keep that in mind when comparing it to other companies.
Amara Holdings trades on a P/E ratio of 8.5, which is below the SG market average of 12.8. The company has a meaningful amount of debt on the balance sheet, but that should not eclipse the solid earnings growth. The low P/E ratio suggests current market expectations are muted, implying these levels of growth will not continue.
Investors have an opportunity when market expectations about a stock are wrong. If the reality for a company is not as bad as the P/E ratio indicates, then the share price should increase as the market realizes this. So thisfreereport on the analyst consensus forecastscould help you make amaster moveon this stock.
But note:Amara Holdings may not be the best stock to buy. So take a peek at thisfreelist of interesting companies with strong recent earnings growth (and a P/E ratio below 20).
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor [email protected]. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading. |
https://finance.yahoo.com/news/had-bought-welspun-enterprises-nse-002132467.html | 2019-04-05 00:21:32+00:00 | null | null | Simply Wall St. | https://simplywall.st/ | If You Had Bought Welspun Enterprises (NSE:WELENT) Stock Five Years Ago, You Could Pocket A 869% Gain Today | Want to participate in a research study ? Help shape the future of investing tools and earn a $60 gift card! Long term investing can be life changing when you buy and hold the truly great businesses. And highest quality companies can see their share prices grow by huge amounts. Just think about the savvy investors who held Welspun Enterprises Limited ( NSE:WELENT ) shares for the last five years, while they gained 869%. If that doesn't get you thinking about long term investing, we don't know what will. Better yet, the share price has risen 14% in the last week. We love happy stories like this one. The company should be really proud of that performance! Check out our latest analysis for Welspun Enterprises To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). During the last half decade, Welspun Enterprises became profitable. Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains. Given that the company made a profit three years ago, but not five years ago, it is worth looking at the share price returns over the last three years, too. Indeed, the Welspun Enterprises share price has gained 131% in three years. In the same period, EPS is up 512% per year. This EPS growth is higher than the 32% average annual increase in the share price over the same three years. Therefore, it seems the market has moderated its expectations for growth, somewhat. The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image). NSEI:WELENT Past and Future Earnings, April 5th 2019 We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. It might be well worthwhile taking a look at our free report on Welspun Enterprises's earnings, revenue and cash flow . Story continues What About Dividends? As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Welspun Enterprises, it has a TSR of 883% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence! A Different Perspective Welspun Enterprises shareholders are down 22% for the year (even including dividends), but the market itself is up 3.9%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. On the bright side, long term shareholders have made money, with a gain of 58% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. Investors who like to make money usually check up on insider purchases, such as the price paid, and total amount bought. You can find out about the insider purchases of Welspun Enterprises by clicking this link. If you like to buy stocks alongside management, then you might just love this free list 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 IN 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 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/why-former-michelle-obama-aide-002634281.html | 2019-04-05 00:26:34+00:00 | null | null | People | https://www.people.com/ | Why Former Michelle Obama Aide Was in Contact with the State Attorney for Jussie Smollett's Case | Michelle Obama ‘s former top aide was in contact with the prosecutor in Jussie Smollett’s case, weeks before a grand jury indicted the Empire actor on 16 counts of disorderly conduct for allegedly making false reports on Feb. 20. The name of Tina Tchen, who worked as Obama’s chief of staff and now leads the Southern Poverty Law Center , has been the center of speculation as it was revealed that Tchen, 63, had been texting with Cook County State’s Attorney Kim Foxx amid the investigation. And speculation increased even more so after Foxx’s office dropped all felony charges against Smollett. In a statement to PEOPLE, Tchen explained her involvement: “I know members of the Smollett family based on prior work together. Shortly after Mr. Smollett reported he was attacked, as a family friend, I contacted Cook County State’s Attorney Kim Foxx, who I also know from prior work together.” Tchen, who released the statement one day after Smollett’s charges were dropped, further shared, “My sole activity was to put the chief prosecutor in the case in touch with an alleged victim’s family who had concerns about how the investigation was being characterized in public.” RELATED: Jussie Smollett Case: Petition Filed Asking Special Prosecutor to Investigate After Charges Dropped From left to right: Tina Tchen; Jussie Smollett; Kim Foxx | Dia Dipasupil/Getty Images for Vanity Fair; Jon Kopaloff/FilmMagic; Charles Rex Arbogast/AP/REX/Shutterstock Smollett, 36, had faced 16 counts of disorderly conduct for allegedly fabricating details of an assault that occurred around 2 a.m. local time on January 29 on a street in his Chicago neighborhood. The black and openly gay actor claimed the two mask-clad men who attacked him hurled racist and homophobic insults, doused him with a chemical, and slipped a rope around his neck, which Smollett still had on when later interviewed by police. Throughout the case, Smollett maintained his innocence. He previously pleaded not guilty to allegations that he lied to police when he said he was attacked by two men in what authorities later had claimed was a staged incident to draw attention to himself . Story continues In mid-February, Foxx said her decision to recuse herself from the case was due to her communication with Tchen and an unnamed Smollett family member. Text and email messages obtained by CNN , NBC Chicago and USA Today show Tchen and Foxx began talking about Smollett’s case on Feb. 1 when Tchen contacted Foxx saying the actor’s family “have concerns about the investigation.” In her response, Foxx said, “Spoke to the Superintendent Johnson,” referring to Chicago Police Superintendent Eddie Johnson, who was among those to publicly debunk Smollett’s police report. “I convinced him to reach out to FBI to ask that they take over the investigation,” Foxx added. On that same day, the unnamed Smollett relative texted Foxx in a separate exchange to ask whether they could talk by phone, the records show. “Tina Tchen gave me your number,” the relative wrote. “Spoke to the superintendent earlier, he made the ask. Trying to figure out logistics. I’ll keep you posted,” Foxx responded. “Omg this would be a huge victory,” the relative replied to which Foxx said: “I make no guarantees, but I’m trying.” Foxx and the relative communicated via text message until Feb. 13. RELATED: There’s a Lot More Evidence’ Jussie Smollett Staged Bias Attack: Superintendent Michelle Obama (center) and Tchen (far right) | Justin Tallis/AFP/Getty Images When news of Smollett’s dropped charges was made public on March 26, the Cook County State’s Attorney’s Office told PEOPLE: “After reviewing all the facts and circumstances of the case, including Mr. Smollett’s volunteer service in the community and agreement to forfeit his bond to the City of Chicago, we believe this outcome is a just disposition and appropriate resolution to this case.” Foxx’s office did not immediately respond to PEOPLE’s request for comment. Meanwhile, Smollett’s lawyer, Patricia Brown Holmes, previously told CNN’s Don Lemon during an interview that “there was no political influence in this case,” adding, “No one political called that I know of. I don’t think anyone political reached out to anyone. I don’t think they would have allowed anyone political to reach out to them.” Representatives for Smollett did not immediately respond to PEOPLE’s request for comment. Both Chicago Mayor Rahm Emanuel and Chicago police superintendent Eddie T. Johnson have publicly criticized the dropping of charges against Smollett, with Emanuel calling it “an unbelievable whitewash of justice.” |
https://finance.yahoo.com/news/samsung-profit-drops-most-four-234634647.html | 2019-04-05 00:32:45+00:00 | [] | Sam Kim | Bloomberg | https://www.bloomberg.com/ | Samsung Profit Drops Most in Four Years as Chip Prices Slump | (Bloomberg) -- Samsung Electronics Co. reported its worst operating-profit drop in more than four years, buffeted by falling memory-chip prices and slowing smartphone sales.
Operating income fell 60 percent to about 6.2 trillion won ($5.5 billion) in the three months ended March, according to preliminary results released Friday from the Suwon, South Korea-based company. That was the biggest decline since a similar drop in the third quarter of 2014. Analysts surveyed by Bloomberg had expected a 56 percent slump to an average of 6.93 trillion won.
Samsung issued a rare warning last month that its results would be short of estimates, reflecting slower orders from data center owners such as Amazon.com Inc. and handset makers including Apple Inc. That’s pushed down prices for both DRAM and NAND memory and compounded the struggles for the South Korean company as it counts on new devices such as the Galaxy S10 smartphone to help it fight back against increased competition.
“We do expect server DRAM demand to pick up as well as the S10 sales and foldable-phone sales to be better than expected going into the second half.” Daniel Yoo, global strategist at Kiwoom Securities, told Bloomberg TV. “Therefore the earnings pickup should lead the share price going into the future.”
Samsung shares fell 0.5 percent in early Seoul trade on Friday. The stock had gained 21 percent this year through Thursday’s close after slumping 24 percent in 2018.
Data centers are working through their stockpiles of unused memory chips while Apple cut its sales forecast earlier this year amid continued trade frictions between the U.S. and China. The Chinese economy, the biggest destination for Samsung-made components, has been slowing as well, while the World Trade Organization has cut its 2019 trade projection to the weakest in three years.
Sales for the quarter were 52 trillion won, missing expectations for 53 trillion won. Samsung won’t provide net income or break out divisional performance until it releases final results later this month.
The market for dynamic random-access memory is set to reach $77 billion this year, dropping 22 percent from a year earlier, according to IHS Markit. In the first quarter, contract prices for 32-gigabyte DRAM server modules fell 38 percent while those for 128 gigabit MLC NAND flash memory chips slid 23 percent, according to inSpectrum Tech Inc. DRAM prices fell in the “sharpest decline in a single season” since 2011, TrendForce said on March 5.
“Samsung is going through the toughest period of time before demand likely picks up again in the bottom half of the year,” Song Myung-sup, an analyst at HI Investment & Securities Co., said before the results. “Inventory levels at clients are right now high and purchases have temporarily come to a halt.”
In January Samsung said it was reducing spending to focus on the profitability of its memory operations after fourth quarter net income plunged the most in two years. Rival SK Hynix Inc. said it could also cut investment if necessary. Last month Micron said it was curtailing output. The three companies control the bulk of the market for DRAM chips, used to store data on personal computers and servers.
Samsung’s first-quarter profit included the sales of Samsung’s Galaxy S10 smartphone released last month. Samsung has been struggling to stem a decline in its smartphone business as consumers wait longer to upgrade their devices.
Read more: Samsung is said to be designing more foldable smartphone models
Its display division, which supplies Apple, has also been hurt by lower-than-expected sales of iPhones and competition from Chinese makers of monitors and televisions. Apple cut its revenue outlook in January for the first time in almost two decades.
(Updates with analyst comment and market reaction from fourth paragraph.)
To contact the reporter on this story: Sam Kim in Seoul at [email protected]
To contact the editors responsible for this story: Edwin Chan at [email protected], Robert Fenner, Peter Elstrom
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. |
https://finance.yahoo.com/news/why-momo-stock-popped-15-003500064.html | 2019-04-05 00:35:00+00:00 | [] | Steve Symington, The Motley Fool | Motley Fool | http://www.fool.com/ | Why Momo Stock Popped 15.3% in March | Shares ofMomo(NASDAQ: MOMO)climbed 15.3% in March, according to data fromS&P Global Market Intelligence, after the Chinese online dating and social video leader announcedstrong fourth-quarter 2018 results.
To be sure, Momo stock climbed 12% just on March 12, 2019 alone after the company revealed its fourth-quarter revenue had climbed 50% year over year to $559.1 million -- well above its guidance for 43% to 47% growth -- which translated to a better-than-expected 22% increase in adjusted (non-GAAP) net income attributable to Momo to $129.1 million, or $0.59 per American depositary share (ADS).
IMAGE SOURCE: GETTY IMAGES.
The underlying drivers of Momo's business were encouraging: Monthly active users for the Momo app climbed 14.3% to 113.3 million, and total paying users of its live video service and value-added service grew nearly 67% to 13 million.
Momo Chairman and CEO Yan Tang called it a "solid quarter," adding, "I am pleased with the progress we made in 2018 in product innovation, monetization, financial performance and the strengthening of the company's position as a leading player in China's open social space."
Looking ahead to the first quarter of 2019, Momo told investors to expect revenue to increase in the range of 28% to 32% at constant currencies. That's a hefty deceleration from the 50% increase it achieved to end 2018, but most analysts were anticipating first-quarter growth closer to 19%.
In the end, after coupling Momo's fourth-quarter outperformance with its strong guidance -- as well as its propensity for under-promising and over-delivering -- it's clear the stock responded appropriately last month.
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Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool recommends Momo. The Motley Fool has adisclosure policy. |
https://finance.yahoo.com/news/cramer-remix-why-decline-cloud-003845265.html | 2019-04-05 00:38:45+00:00 | [] | Tyler Clifford | CNBC | http://www.cnbc.com/ | Cramer Remix: Why the decline in cloud stocks and Lyft's move higher go hand in hand | • "If you own a diversified portfolio, today was good day, but if you had too much concentration in the cloud names well this was pretty bad day," CNBC's Jim Cramer says.
• "I think some funds could be selling the cloud stocks so they have capital to participate in these IPOs," the "Mad Money" host 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," he says.
Cloud stocks took a tumble during the trading session that was potentially fueled by investment funds raising cash to get ready for the next big initial public offering, CNBC's Jim Cramer said Thursday.
While the S&P 500 tallied its first six-day winning streak in more than a year, the biggest cloud names were in the red including ServiceNow NOW , which lost more than $10 on the day, and Salesforce CRM , which fell more than $4.
"If you own a diversified portfolio, today was good day, but if you had too much concentration in the cloud names well this was pretty bad day," the "Mad Money" host said.
Lyft LYFT shares, after falling near $66 per share after its public debut Friday, closed up nearly 3% at $72, its initial IPO price.
Cramer said it's his "biggest fear" that growth funds are selling stocks to prepare for the looming IPOs that will be handled by firms that want to avoid botching the deal as Lyft's.
"It makes sense when you look at the performance of today's big deal, Tradeweb TW , a financial services-slash-technology company that jumped gigantically and in an orderly fashion," he said. "I think some funds could be selling the cloud stocks so they have capital to participate in these IPOs."
Get Cramer's full thoughts here
Anticipating a deal
Investors made a move on industrial stocks in anticipation that a U.S.-China trade agreement is near completion, Cramer said.
"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 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% rise, added more than 166 points on the session and the S&P 500 gained 0.2% for its first six-day winning streak in more than a year.
The Nasdaq, on the other hand, shed 0.1% .
"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."
Read more here
Special delivery
GrubHub GRUB will continue investing in its long-term strategy and differentiate itself in the crowded online food ordering space even as its stock faces pressure, CEO Matt Maloney told CNBC.
"I have always been willing to be extremely aggressive investing in the future," he said in a Thursday one-on-one with Cramer.
Cramer noted that Wall Street is "short-sighted" and typically frowns upon news that a company will make investments because investors are less inclined to buy into the long-term view.
GrubHub's stock is down about 9% in 2019 and off more than 50% from its all-time high in September.
"It's the cost of being public," Maloney said, shrugging off those concerns.
More here
Trust your intuition
Intuit INTU has a new management team. Cramer said the company's leadership seems to be executing, but cautioned that the stock is a bit expensive as it has run up dramatically.
It's up more than 33% in 2019.
"The story's all about conviction. If you believe in Intuit's strategy, if you think they'll be able to blow away the numbers, then the stock's worth buying even up here," he said. "But if you don't have that kind of conviction in an unproven management team, at least yet, I can't blame you for taking a pass on this one."
Go deeper here
Toast to Constellation Brands
Canopy Growth CGC could generate more than $1 billion in revenue by the end of its fiscal year, Constellation Brands STZ CEO Bill Newlands told CNBC.
Constellation, which makes Corona and Modelo beers, has a 38% stake in the cannabis company, which is the largest medical marijuana producer in Canada.
"If you look at Canada alone, Canada is on a run rate of $5 [billion] to $6 billion in sales, and Canopy is the leading player in that market," Newlands told Cramer. "Then you add in new form factors later this year in things like beverage and other edibles, we think the sky's the limit. This is going to be a big business, and Canopy is going to be the leader."
Read more on the interview here
Cramer's lightning round: Vans is doing really well. Buy this stock
VF Corp. VFC : "I think Vans is doing so well that you're going to do quite well. I'm thrilled they're getting rid of the jeans business, that is too competitive."
Office Properties Income Trust: "I gotta look into that. That's a stunning decline. It's gotten a little better this year, but I gotta find out exactly what they merged with that nobody likes. That's a cheap stock, we're going to come back."
Anadarko Petroleum Corp. APC : "I have a conference call next Friday for members of the ActionAlertsPlus.com club. Last conference call I beat myself up severely about how Anadarko turned out to not have what I wanted in terms of growth. This quarter I think will be much better. A 2.6% yield, good balance sheet. I think Anadarko's fine. I think you make six bucks in it."
Okta Inc. OKTA : "You now I like those guys. That stock at one point was so hammered today, you couldn't look at it. It was like looking at a total eclipse of the sun. Yeah, so I think that, you know, that's the one that's the identity software. It's kind of a Salesforce spawn. I like it very much, but remember it's a long-term play."
Disclosure: Cramer's charitable trust owns shares of Salesforce.com
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https://finance.yahoo.com/news/police-fbi-trying-verify-teen-boy-missing-since-123129468.html | 2019-04-05 00:54:20+00:00 | null | null | Associated Press | https://apnews.com/ | FBI rejects young man's claim to be long-missing boy | CINCINNATI (AP) — A young man's claim to be an Illinois boy who disappeared under tragic circumstances eight years ago was disproved by DNA tests and pronounced a hoax Thursday, dashing hopes that the baffling case had finally been solved. For a day and a half, a breakthrough seemed to be at hand when a young man found wandering the streets of Newport, Kentucky, on Wednesday identified himself as 14-year-old Timmothy Pitzen and told police he had just escaped from two men who had held him captive for seven years. Timmothy disappeared in 2011 at age 6, and a note left behind by his mother before she took her own life said he was being cared for and would never be found. Timmothy's family was cautiously hopeful over Wednesday's news, as were neighbors and others who have long wondered whether he is dead or alive. But the FBI said Thursday afternoon that DNA tests determined the young man was not Timmothy. Newport Police Chief Tom Collins identified him to ABC as Brian Rini of Medina, Ohio, a 23-year-old ex-convict. He was released from an Ohio prison less than a month ago after serving more than a year for burglary and vandalism. Authorities did not say whether Rini would face charges over the alleged hoax or what his motive was. "Law enforcement has not and will not forget Timmothy, and we hope to one day reunite him with his family. Unfortunately, that day will not be today," FBI spokesman Timothy Beam said in a statement. In Timmothy's hometown of Aurora, Illinois, police Sgt. Bill Rowley said that over the years his department has received thousands of tips about Timmothy, including false sightings. "We're always worried about copycats, especially something that has a big national attention like this," he said. Timmothy's family members said they were heartbroken at the latest twist. "It's devastating. It's like reliving that day all over again, and Timmothy's father is devastated once again," said his aunt Kara Jacobs. Story continues The boy's grandmother Alana Anderson said: "It's been awful. We've been on tenterhooks, hopeful and frightened. It's just been exhausting." She added, "I feel so sorry for the young man who's obviously had a horrible time and felt the need to say he was somebody else." Timmothy vanished after his mother, Amy Fry-Pitzen, pulled him out of kindergarten early one day, took him on a two-day road trip to the zoo and a water park, and then killed herself at a hotel. She left a note saying that her son was safe with people who would love and care for him, and added: "You will never find him." Police have said she might have dropped the boy off with a friend, noting that his car seat and Spider-Man backpack were gone. Timmothy's grandmother said her daughter had fought depression for years and was having problems in her marriage to Timmothy's father. News reports suggested she was afraid she would lose custody of the boy in a divorce because of her mental instability. At Greenman Elementary after the boy's disappearance, Timmothy's schoolmates, teachers and parents tied hundreds of yellow ribbons around trees and signs. A garden was planted in his memory. The brief but tantalizing possibility that the case had been solved generated excitement in Timmothy's former neighborhood. Pedro Melendez, who lives in Timmothy's former home, didn't know the boy but saved the concrete slab with his name, handprint and footprint etched in it when he redid the back patio. It is dated '09. Linda Ramirez, who lives nearby and knew the family, said she was "pretty excited" but didn't "want to have false hopes." Rowley expressed hope that the flurry of activity and attention had renewed interest in the case. "Perhaps, it has people looking at the case with new eyes," the police sergeant said. ___ Babwin reported from Chicago. Associated Press reporters Carrie Antlfinger in Aurora, Caryn Rousseau in Chicago and Corey Williams in Detroit contributed. ___ Follow Dan Sewell at https://www.twitter.com/dansewell |
https://finance.yahoo.com/news/were-hedge-funds-dumping-elanco-010119640.html | 2019-04-05 01:01:19+00:00 | [] | Abigail Fisher | Insider Monkey | http://www.insidermonkey.com | Were Hedge Funds Right About Dumping Elanco Animal Health Incorporated (ELAN)? | Is Elanco Animal Health Incorporated (NYSE:ELAN) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably but historically their consensus stock picks outperformed the market after adjusting for known risk factors.
Elanco Animal Health Incorporated (NYSE:ELAN)investors should pay attention to a huge decrease in hedge fund interest of late.ELANwas in 18 hedge funds' portfolios at the end of the fourth quarter of 2018. There were 36 hedge funds in our database with ELAN holdings at the end of the previous quarter. Our calculations also showed that ELAN 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 recent hedge fund action encompassing Elanco Animal Health Incorporated (NYSE:ELAN).
At Q4's end, a total of 18 of the hedge funds tracked by Insider Monkey were long this stock, a change of -50% from the second quarter of 2018. By comparison, 0 hedge funds held shares or bullish call options in ELAN a year ago. So, let's check out 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, D. E. Shaw'sD E Shawhas the number one position in Elanco Animal Health Incorporated (NYSE:ELAN), worth close to $46.7 million, amounting to 0.1% of its total 13F portfolio. Coming in second is Matthew Halbower ofPentwater Capital Management, with a $26.3 million position; 0.2% of its 13F portfolio is allocated to the stock. Other professional money managers that are bullish include Steve Cohen'sPoint72 Asset Management, Benjamin A. Smith'sLaurion Capital Managementand Ian Simm'sImpax Asset Management.
Due to the fact that Elanco Animal Health Incorporated (NYSE:ELAN) has witnessed a decline in interest from the smart money, we can see that there exists a select few hedge funds who were dropping their full holdings last quarter. Intriguingly, Robert Joseph Caruso'sSelect Equity Groupsold off the largest investment of the 700 funds tracked by Insider Monkey, valued at close to $34.9 million in stock. Aaron Cowen's fund,Suvretta Capital Management, also said goodbye to its stock, about $34.7 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest dropped by 18 funds last quarter.
Let's now take a look at hedge fund activity in other stocks similar to Elanco Animal Health Incorporated (NYSE:ELAN). We will take a look at NRG Energy Inc (NYSE:NRG), Advance Auto Parts, Inc. (NYSE:AAP), Extra Space Storage, Inc. (NYSE:EXR), and Godaddy Inc (NYSE:GDDY). All of these stocks' market caps match ELAN's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position NRG,49,2016015,-1 AAP,51,1908548,13 EXR,24,211374,2 GDDY,43,2780202,-5 Average,41.75,1729035,2.25 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 41.75 hedge funds with bullish positions and the average amount invested in these stocks was $1729 million. That figure was $144 million in ELAN's case. Advance Auto Parts, Inc. (NYSE:AAP) is the most popular stock in this table. On the other hand Extra Space Storage, Inc. (NYSE:EXR) is the least popular one with only 24 bullish hedge fund positions. Compared to these stocks Elanco Animal Health Incorporated (NYSE:ELAN) is even less popular than EXR. Hedge funds were right about dumping ELAN and shifting their capital into more promising ideas. 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 ELAN wasn't in this group. Hedge funds that bet on ELAN were disappointed as the stock lost 2.8% 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/barr-defends-handling-muellers-russia-report-193528127--politics.html | 2019-04-05 01:02:58+00:00 | null | null | Associated Press | https://apnews.com/ | Barr defends handling of Mueller's Russia report | WASHINGTON (AP) — Attorney General William Barr on Thursday defended his handling of special counsel Robert Mueller's report on the Russia investigation, saying the confidential document contains sensitive grand jury material that prevented it from being immediately released to the public. The statement came as Barr confronts concerns that his four-page letter summarizing Mueller's conclusions unduly sanitized the full report in President Donald Trump's favor, including on the key question of whether the president obstructed justice. House Democrats on Wednesday approved subpoenas for Mueller's entire report and any exhibits and other underlying evidence that the Justice Department might withhold. The disparity in length between Barr's letter and Mueller's full report, which totals nearly 400 pages, raises the likelihood of additional significant information that was put forward by the special counsel's office but not immediately shared by the attorney general. In Thursday's statement, Barr defended the decision to release a brief summary letter two days after receiving the report on March 22. He has previously said he did not believe it would be in the public's interest to release the full document in piecemeal or gradual fashion, and that he did not intend for his letter summarizing Mueller's "principal conclusions" to be an "exhaustive recounting" of the special counsel's investigation. Barr is now expected to release the entire report, with redactions, by mid-April. "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," the Justice Department statement said. The statement also said that every page of Mueller's report was marked that it may contain grand jury material "and therefore could not immediately be released." A Justice Department official, speaking Thursday on condition of anonymity to discuss a confidential process, said summaries of the findings that Mueller's team included as part of its report also contained grand jury information, making it hard for a swift release. Barr has said that while Mueller did not establish a criminal conspiracy between Russia and the Trump campaign, the special counsel left open a decision on whether the president had tried to obstruct the Russia investigation. The Mueller team laid out evidence on both sides of the question in a way that neither established a crime nor exonerated Trump, according to Barr's letter. Story continues Barr has said that he and Deputy Attorney General Rod Rosenstein determined that Mueller's evidence was insufficient to support an obstruction allegation. Barr said he was continuing to work with Mueller's office on redactions to the report so that it could be released to Congress and the public. ___ Follow Eric Tucker on Twitter at http://www.twitter.com/etuckerAP View comments |
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