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AIRI

Conference Call Scheduled for August 9, 2023BAY SHORE, N.Y., August 08, 2023--(BUSINESS WIRE)--Air Industries Group (NYSE American: AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced its financial results for the quarter ended June 30, 2023.Commenting on the recent results, Lou Melluzzo, CEO of Air Industries Group, said, "I am pleased that we delivered both top-line and bottom-line improved performance during the second quarter of 2023. Our gross profit margin for Q2 has risen impressively to 16.4% of sales, an increase from the 2023 first quarter’s 15.0%. Moreover, we successfully transitioned from operating losses in the past two quarters to achieving operating income in the most recent period."Mr. Melluzzo also commented on the Company’s business outlook, stating, "As we look ahead, I am extremely encouraged by the positive feedback emanating from both our longstanding and new customers. The substantial investments we made over multiple years in new equipment, refined delivery processes, and elevated customer service are undeniably yielding fruitful results. I am confident that we are witnessing the commencement of a sustained period of improved order-flow trajectory, which bodes well for the future for our Company."Second Quarter 2023 ResultsConsolidated net sales for the second quarter ended June 30, 2023 were $13.2 million, representing an increase of $656,000 or 5.0% from $12.5 million reported for the first quarter of 2023. Second quarter 2023 net sales were lower by $803,000 or (5.7%) compared with sales of $14.0 million reported for the second quarter of 2022.Consolidated gross profit for the second quarter of 2023 was $2.2 million, an increase of $289,000 or 13.3% from $1.9 million in the 2023 first quarter. Second quarter 2023 gross profit was lower by $253,000 or (10.5%) compared with $2.4 million in the second quarter of 2022.Gross profit margin was 16.4% of sales for the second quarter of 2023, 15.0% for the first quarter of 2023, and 17.3% for the second quarter of 2022.Operating expenses for the second quarter of 2023 were $2.1 million, slightly higher than $2.0 million in the first quarter of 2023, and lower than $2.2 million in the 2022 second quarter.The Company achieved operating income of $90,000 in the second quarter of 2023 compared with an operating loss of $158,000 in the first quarter of 2023 and operating income of $250,000 in the second quarter of 2022.Interest and financing costs for the three months ended June 30, 2023 were $500,000 compared with $476,000 in the first quarter of 2023, and $289,000 for the three months ended June 30, 2022. The increases in interest expense resulted from increases in the prime rate and from higher loan balances.Net loss for the second quarter of 2023 was reduced to $395,000 versus a net loss of $618,000 in the first quarter of 2023. The net loss in the second quarter of 2022 was $7,000.Story continuesSix-Month 2023 ResultsConsolidated net sales for the six months ended June 30, 2023 were $25.8 million compared with $26.1 million in the same period of 2022, a slight decrease of $316,000 or (1.2.%).Consolidated gross profit for the six months ended June 30, 2023 was $4.0 million versus $4.5 million in the 2022 period, a decrease of $451,000 or (10.0%). Gross profit margin was 15.7% of sales for the six months ended June 30, 2023 compared with 17.3% for the first six months of 2022.Operating expenses for the six months ended June 30, 2023 were $4.1 million, increasing $53,000 from $4.0 million in the 2022 period.The operating loss for the six months ended June 30, 2023 was $47,000 compared with operating income of $457,000 reported for the 2022 period.Interest and financing costs for the six months ended June 30, 2023 were $996,000 compared with $612,000 in the 2022 period, an increase of $384,000 or 62.7%, mainly due to the effect of increases in the prime rate and from higher loan balances.Net loss for the six months ended June 30, 2023 was $1.0 million, compared with a net loss of $35,000 in the 2022 period.Adjusted EBITDA for the six months ended June 30, 2023 was $1.6 million.Reconciliation of Net (Loss) to Adjusted EBITDA (in thousands)For the Six Months Ended June 30, 2023Net Loss$(1,013)Add-backs to EBITDAInterest956Taxes-Depreciation & Amortization1,273EBITDA1,216Add-backs to Adjusted EBITDAGoodwill163Stock Compensation232Adjusted EBITDA$1,611Additional information about the Company can be found in its filings with the SEC and by visiting the website at www.airindustriesgroup.com.Investor Conference CallManagement will host a conference call on Wednesday, August 9, 2023 at 4:15 PM Eastern TimeConference Toll-Free Number 877-524-8416AIR INDUSTRIES GROUP is an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense.Forward Looking StatementsCertain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, future revenues, earnings and Adjusted EBITDA, the ability to realize firm backlog and projected backlog, cost cutting measures, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of projects due to variability in size, scope and duration, the inherent discrepancy in actual results from estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.Adjusted EBITDAThe Company uses Adjusted EBITDA, a Non-GAAP financial measure as defined by the SEC, as a supplemental profitability measure because management finds it useful to understand and evaluate results, excluding the impact of non-cash depreciation and amortization charges, stock based compensation expenses, and nonrecurring expenses and outlays, prior to consideration of the impact of other potential sources and uses of cash, such as working capital items. This calculation may differ in method of calculation from similarly titled measures used by other companies and may be different than the EBITDA calculation used by our lenders for purposes of determining compliance with our financial covenants. This Non-GAAP measure may have limitations when understanding performance as it excludes the financial impact of transactions such as interest expense necessary to conduct the Company’s business and therefore are not intended to be an alternative to financial measure prepared in accordance with GAAP. The Company has not quantitatively reconciled its forward looking Adjusted EBITDA target to the most directly comparable GAAP measure because such items such as amortization of stock-based compensation and interest expense, which are specific items that impact these measures, have not yet occurred, are out of the Company’s control, or cannot be predicted. For example, quantification of stock-based compensation is not possible as it requires inputs such as future grants and stock prices which are not currently ascertainable.View source version on businesswire.com: https://www.businesswire.com/news/home/20230808020721/en/ContactsAir Industries GroupInvestor [email protected]

Business Wire

Air Industries Group Announces Improved Operating Results for Second Quarter Ended June 30, 2023 and Provides Comments on Business Outlook

https://finance.yahoo.com/news/air-industries-group-announces-improved-123000164.html

fd20c570-d1ac-3e0d-a7ec-f7f0549d280f

AIRI

Becomes Sole Provider of Mission-Critical Welding ProcessBAY SHORE, N.Y., September 08, 2023--(BUSINESS WIRE)--Air Industries Group (NYSE American: AIRI) today announced that, in conjunction with a major OEM customer, it has secured the welding equipment, related tooling and peripheral equipment used to weld the arresting gear that secures the E-2D aircraft’s tail hook, which is essential for landing on aircraft carriers. The Company noted that this machinery is the only equipment currently certified to weld the arresting gear.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230908950070/en/(Photo: Business Wire)The equipment is being installed at Air Industries’ Sterling Engineering facility in Connecticut.Mr. Lou Melluzzo, CEO of Air Industries, commented: "With the addition of the arresting gear welding equipment, Air Industries will become the sole provider in our industry of a mission-critical welding process for the E-2D platform. This action will not only secure our position as a key supplier to a major aircraft program, but will also form the basis for an expanding portfolio of special processes to include welding capabilities."The E-2D Advanced Hawkeye is a carrier-based, battle-management aircraft, the "digital quarterback," managing the airspace and keeping carrier battle groups out of harm’s way. It is the cornerstone of the U.S. Navy theater air and missile defense architecture in the littorals, overland and open sea operations. The E-2D aircraft is still in production, and approximately 65 E-2Ds are active in the fleet, which is forecast to expand by more than 40% to 93 aircraft in 2027.Mr. Melluzzo added, "The importance of the E-2D to our nation’s defense posture – and to Air Industries’ growth – cannot be over-stated. For many years, our Company has supplied landing gear, arresting gear, hooks, and other products for this platform. Our E-2D product backlog is close to $20 million, or 29% of our total backlog. Also, many of the products we manufacture for this aircraft besides the full landing gear are ‘consumables’ that must be regularly replaced based on usage. The welding equipment enhances our partnership with the manufacturer, and with after-market suppliers supporting the E-2D program."Story continuesMr. Melluzzo also noted, "Welding complements the vertical integration of other processes such as painting, which Air Industries has recently brought in-house, in a strategy designed to shorten production times and reduce costs."ABOUT AIR INDUSTRIES GROUPAir Industries Group (NYSE American: AIRI) is an integrated manufacturer of precision assemblies and components for leading aerospace and defense prime contractors and original equipment manufacturers. The Company is a Tier 1 supplier to aircraft Original Equipment Manufacturers, a Tier 2 subcontractor to major Tier 1 manufacturers, and a Prime Contractor to the U.S. Department of Defense, and is highly regarded for its expertise in designing and manufacturing parts and assemblies that are vital for flight safety and performance.Additional information about the Company can be found in its filings with the SEC.Forward Looking StatementsCertain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, future revenues, earnings and Adjusted EBITDA, the ability to realize firm backlog and projected backlog, cost cutting measures, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of projects due to variability in size, scope and duration, the inherent discrepancy in actual results from estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908950070/en/ContactsAir Industries GroupInvestor [email protected]

Business Wire

Air Industries Group Adds Important Arresting Gear Welding Capability to Support U.S. Navy E-2D Aircraft Program

https://finance.yahoo.com/news/air-industries-group-adds-important-123000766.html

24675ac9-b587-3667-9bb6-69319ad33a52

AIRT

CHARLOTTE, NC / ACCESSWIRE / August 11, 2023 / AIR T, INC (NASDAQ:AIRT) announced today that the Company's 2023 Annual Meeting of Stockholders (the "Annual Meeting") will be available to attendees via webcast as well as in person. As previously announced, the Annual Meeting will be held on Wednesday, August 16, 2023, at 8:30 AM, Central Time. Stockholders will be able to physically attend the Annual Meeting or participate via webcast. Directors and members of management will be physically in attendance at the Company's St. Louis Park office.As described in the Company's proxy statement, you are entitled to attend and vote at the Annual Meeting if you were a stockholder of record as of the close of business on June 27, 2023, or hold a legal proxy for the meeting provided by your bank, broker, or nominee. To be admitted to the Annual Meeting visit https://agm.issuerdirect.com/airt and follow the registration instructions for the meeting. You are encouraged to access the meeting prior to the start time and allow ample time to log into the meeting and test your computer system.You may listen in and submit questions during the Annual Meeting by following the instructions available on the meeting website. In addition, you may submit questions prior to the meeting by going to slido.com and entering the event code #AIRTQA or at https://www.airt.net/investors/ask-mgmt-question/. You may also upvote questions that have already been submitted by clicking the thumbs-up icon next to your favorite questions. By upvoting questions, you ensure that those questions move to the top of the list and are more likely to be answered by Air T, Inc. leadership.Whether or not you plan to attend the Annual Meeting, we encourage you to vote in advance by mail, telephone or the internet as described in the proxy materials for the Annual Meeting. The proxy card previously sent to you may continue to be used to vote your shares in connection with the Annual Meeting.Story continuesABOUT AIR T, INCEstablished in 1980, Air T Inc. is a portfolio of powerful businesses and financial assets, each of which is independent yet interrelated. Its core segments are overnight air cargo, aviation ground support equipment manufacturing, and commercial aircraft asset management and logistics. We seek to expand, strengthen and diversify Air T's after-tax cash flow per share. Our goal is to build Air T's core businesses, and when appropriate, to expand into adjacent and other industries. We seek to activate growth and overcome challenges while delivering meaningful value for all stakeholders. For more information, visit www.airt.net.CONTACTAir T, Inc.Brian Ochocki, [email protected]+1-866-231-2577SOURCE: Air T, Inc.View source version on accesswire.com: https://www.accesswire.com/773816/Air-T-Inc-Announces-Webcast-Availability-for-2023-Annual-Meeting-of-Stockholders

ACCESSWIRE

Air T, Inc. Announces Webcast Availability for 2023 Annual Meeting of Stockholders

https://finance.yahoo.com/news/air-t-inc-announces-webcast-172000032.html

50a8f343-35ee-3fde-b287-b67e232d24e7

AIRT

CHARLOTTE, NC / ACCESSWIRE / August 11, 2023 / Air T, Inc. (NASDAQ:AIRT) is an industrious American company with a portfolio of businesses, each of which is independent yet interrelated. We seek dynamic individuals and teams to operate companies using processes that increase value over time. We believe we can apply corporate resources to help activate growth and overcome challenges.Our core segments are overnight air cargo; aviation ground equipment manufacturing and sales; commercial jet engines and parts; and corporate and other.Today the Company is announcing results for the fiscal first quarter ended June 30, 2023:Revenues totaled $71.4 million for the quarter ended June 30, 2023, an increase of $20.6 million, or 40% from the prior year's comparable quarter.Operating income was $0.7 million for the quarter ended June 30, 2023, compared to the prior year's operating income of $0.8 million.Adjusted EBITDA* profit of $1.4 million for the quarter ended June 30, 2023, compared to an Adjusted EBITDA* profit of $1.5 million in the prior year's comparable quarter.Loss per share of $0.19 for the quarter ended June 30, 2023, compared to the loss per share of $0.50 for the prior year's comparable quarter.Total Equity decreased from $13.0 million as of March 31, 2023, to $12.4 million as of June 30, 2023, a decrease of $0.6 million, or 5%.*Adjusted EBITDA is a non-GAAP financial measure; see below for further explanation and reconciliation to GAAP measure.Company Chairman and CEO Nick Swenson commented:"We remain focused on seeking to create value for shareholders in the here and now. Developments in the aviation market can be important influences on our business. At this time, global passenger traffic has reached 95% of 2019 levels while cargo demand is softening off of the COVID-related peak back down to levels in line with 2019. The OEM supply chain for aviation equipment is pressured, with Airbus warning of delivery delays well into 2024. This pushes the price for existing aircraft, however, it might cause overproduction and lower aircraft values at the next cyclical low. MRO capacity was removed during COVID. Now the cycle has turned and MROs are experiencing material and labor shortages. Generally speaking, used serviceable material is more sought after as a result. Cyclical tailwinds continue to sustain the global airline industry for the time being, and always-valuable operational excellence continues to pay dividends."Story continuesBusiness Segment ResultsOvernight Air CargoThis segment provides repair services and air express delivery services, substantially all for FedEx.Revenues for this segment increased 35% to $27.7 million in the quarter ended June 30, 2023, compared to $20.6 million in the prior year quarter. The increase was principally attributable to higher administrative fees due to increased fleet, higher pass-through revenues from FedEx, and the acquisition of Worldwide Aircraft Services, Inc. ("WASI") which occurred on January 31, 2023.Adjusted EBITDA* for this segment was $2.0 million for the quarter ended June 30, 2023, an increase of $0.9 million when compared to the prior year quarter, primarily due to the revenue increase noted above.Aviation Ground Equipment Manufacturing and Sales ("GGS")This segment, which includes the world's largest manufacturer of aircraft deicing equipment, manufactures, and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, and military and industrial customers.Revenues for this segment totaled $11.8 million for the quarter ended June 30, 2023, up 103% when compared to revenue of $5.8 million in the same quarter in 2022. The increase was primarily driven by the higher number of deicing trucks sold this quarter compared to prior year's comparable quarter.Adjusted EBITDA* loss for this segment was $51.0 thousand in the quarter ended June 30, 2023, a decrease of $0.2 million compared to the prior year quarter. This decrease was primarily attributable to the increased costs for material, labor, and overhead required to get truck units scheduled and built.As of June 30, 2023, this segment's order backlog was $13.7 million versus $17.2 million as of June 30, 2022.Commercial Jet Engines and PartsThis segment leases commercial jet engines and aircraft; buys, sells and trades in surplus and aftermarket commercial jet engines, engine parts, airframes, and airframe parts, avionics, and other; then delivers the related documents and logistics.Revenues for this segment totaled $29.8 million for the quarter ended June 30, 2023, an increase of $7.0 million versus revenues of $22.9 million in the previous year's first fiscal quarter. The increase was primarily driven by higher component part sales at Contrail in the current quarter compared to the prior year comparable quarter.Adjusted EBITDA* for this segment was $1.7 million for the quarter ended June 30, 2023, compared to an Adjusted EBITDA* of $3.3 million in the prior year comparable quarter. The decrease was primarily due to lower gross profit margins on components sales mentioned above due to parts coming from tear down of higher priced aircraft.Corporate and OtherThis segment acts as the capital allocator and resource for other consolidated businesses. Further, Corporate and other also comprises smaller businesses and business interests.This segment's Adjusted EBITDA* for the quarter ended June 30, 2023 represented a loss of $2.2 million in the quarter, compared to an Adjusted EBITDA* loss of $3.1 million in the same quarter a year ago.*Adjusted EBITDA is a non-GAAP financial measure; see below for further explanation and reconciliation to GAAP measures.Non-GAAP Financial MeasuresThe Company uses adjusted earnings before taxes, interest, and depreciation and amortization ("Adjusted EBITDA"), a non-GAAP financial measure as defined by the SEC, to evaluate the Company's financial performance. This performance measure is not defined by accounting principles generally accepted in the United States and should be considered in addition to, and not in lieu of, GAAP financial measures.Adjusted EBITDA is defined as earnings before taxes, interest, and depreciation and amortization, adjusted for specified items. The Company calculates Adjusted EBITDA by removing the impact of specific items and adding back the amounts of interest expense and depreciation and amortization to earnings before income taxes. When calculating Adjusted EBITDA, the Company does not add back depreciation expense for aircraft engines that are on lease, as the Company believes this expense matches with the corresponding revenue earned on engine leases. There was no depreciation expense for leased engines for the three months ended June 30, 2023 and $0.3 million for the three months ended June 30, 2022.Management believes that Adjusted EBITDA is a useful measure of the Company's performance because it provides investors additional information about the Company's operations allowing better evaluation of underlying business performance and better period-to-period comparability. Adjusted EBITDA is not intended to replace or be an alternative to operating income, the most directly comparable amounts reported under GAAP.The table below provides a reconciliation of operating income to Adjusted EBITDA for the periods ended June 30, 2023, and 2022 (in thousands):Three months ended6/30/20236/30/2022Operating income$658$834Depreciation and amortization (excluding leased engines depreciation)690605Gain on sale of property and equipment(6)(2)Securities expenses4515Adjusted EBITDA$1,387$1,452The following table shows the Company's Adjusted EBITDA by segment for the periods ended June 30, 2023, and 2022 (in thousands):Three months ended6/30/20236/30/2022Overnight Air Cargo$2,014$1,096Ground Equipment Sales(51)191Commercial Jet Engines and Parts1,6683,251Corporate and Other(2,244)(3,086)Adjusted EBITDA$1,387$1,452NOTE REGARDING STAKEHOLDER QUESTIONSIf you have questions related to this release or other Air T matters, please use our interactive Q&A capability, through Slido.com, accessible from our website, to submit your questions. We intend to keep that link open and available for shareholder questions. Questions submitted through Slido will be answered "live" and in writing at our Annual Meeting, and via a written response on a quarterly basis. Note that legal and pragmatic requirements restrict us from answering every question posted, yet we intend to address all reasonable and relevant questions with a written answer.ABOUT AIR T, INC.Established in 1980, Air T Inc. is a portfolio of powerful businesses and financial assets, each of which is independent yet interrelated. Its core segments are overnight air cargo, aviation ground support equipment manufacturing and sales, commercial jet engines and parts, and corporate and other. We seek to expand, strengthen and diversify Air T's after-tax cash flow per share. Our goal is to build Air T's core businesses, and when appropriate, to expand into adjacent and other industries. We seek to activate growth and overcome challenges while delivering meaningful value for all stakeholders. For more information, visit www.airt.net.FORWARD-LOOKING STATEMENTSCertain statements in this press release, including those contained in "Overview," are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the Company's financial condition, results of operations, plans, objectives, future performance and business. Forward-looking statements include those preceded by, followed by or that include the words "believes", "pending", "future", "expects," "anticipates," "estimates," "depends" or similar expressions. These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements, because of, among other things, potential risks and uncertainties, such as:Economic and industry conditions in the Company's markets;The risk that contracts with FedEx could be terminated or adversely modified;The risk that the number of aircraft operated for FedEx will be reduced;The risk that GGS customers will defer or reduce significant orders for deicing equipment;The impact of any terrorist activities on United States soil or abroad;The Company's ability to manage its cost structure for operating expenses, or unanticipated capital requirements, and match them to shifting customer service requirements and production volume levels;The Company's ability to meet debt service covenants and to refinance existing debt obligations;The risk of injury or other damage arising from accidents involving the Company's overnight air cargo operations, equipment or parts sold and/or services provided;Market acceptance of the Company's commercial and military equipment and services;Competition from other providers of similar equipment and services;Changes in government regulation and technology;Changes in the value of marketable securities held as investments;Mild winter weather conditions reducing the demand for deicing equipment;Market acceptance and operational success of the Company's relatively new aircraft asset management business and related aircraft capital joint venture; andDespite our current indebtedness levels, we and our subsidiaries may still be able to incur substantially more debt, which could further exacerbate the risks associated with our substantial leverage.A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. We are under no obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.CONTACTAir T, Inc. Brian Ochocki, [email protected]: Air T, Inc.View source version on accesswire.com: https://www.accesswire.com/773856/Air-T-Inc-Reports-First-Quarter-Fiscal-2024-Results

ACCESSWIRE

Air T, Inc. Reports First Quarter Fiscal 2024 Results

https://finance.yahoo.com/news/air-t-inc-reports-first-203000054.html

4bd3f7fc-8b9b-3eca-87da-51f764c8cd88

AIT

For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Applied Industrial Technologies (AIT) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.Applied Industrial Technologies is a member of our Industrial Products group, which includes 223 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Applied Industrial Technologies is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for AIT's full-year earnings has moved 2.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, AIT has gained about 26.3% so far this year. Meanwhile, the Industrial Products sector has returned an average of 9.5% on a year-to-date basis. This shows that Applied Industrial Technologies is outperforming its peers so far this year.Another Industrial Products stock, which has outperformed the sector so far this year, is Esab (ESAB). The stock has returned 47.9% year-to-date.The consensus estimate for Esab's current year EPS has increased 5.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual stocks and currently sits at #60 in the Zacks Industry Rank. On average, stocks in this group have gained 11.4% this year, meaning that AIT is performing better in terms of year-to-date returns.Story continuesOn the other hand, Esab belongs to the Metal Products - Procurement and Fabrication industry. This 13-stock industry is currently ranked #88. The industry has moved +18.6% year to date.Investors with an interest in Industrial Products stocks should continue to track Applied Industrial Technologies and Esab. These stocks will be looking to continue their solid performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportApplied Industrial Technologies, Inc. (AIT) : Free Stock Analysis ReportESAB Corporation (ESAB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Are Industrial Products Stocks Lagging Applied Industrial Technologies (AIT) This Year?

https://finance.yahoo.com/news/industrial-products-stocks-lagging-applied-134007283.html

1ffc0283-bb2e-37f7-9886-424e30801cfe

AIT

Key InsightsUsing the 2 Stage Free Cash Flow to Equity, Applied Industrial Technologies fair value estimate is US$218Applied Industrial Technologies is estimated to be 28% undervalued based on current share price of US$157Peers of Applied Industrial Technologies are currently trading on average at a 49% premiumDoes the September share price for Applied Industrial Technologies, Inc. (NYSE:AIT) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the forecast future cash flows of the company and discounting them back to today's value. This will be done using the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model. See our latest analysis for Applied Industrial Technologies What's The Estimated Valuation?We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. In the first stage we need to estimate the cash flows to the business over the next ten years. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Story continuesA DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:10-year free cash flow (FCF) forecast2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$368.2mUS$408.7mUS$442.8mUS$471.6mUS$496.0mUS$517.2mUS$536.1mUS$553.2mUS$569.1mUS$584.3mGrowth Rate Estimate SourceEst @ 14.81%Est @ 11.01%Est @ 8.35%Est @ 6.49%Est @ 5.19%Est @ 4.28%Est @ 3.64%Est @ 3.19%Est @ 2.88%Est @ 2.66% Present Value ($, Millions) Discounted @ 7.7% US$342US$352US$355US$351US$343US$332US$319US$306US$292US$279("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$3.3bAfter calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.2%. We discount the terminal cash flows to today's value at a cost of equity of 7.7%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$584m× (1 + 2.2%) ÷ (7.7%– 2.2%) = US$11bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$11b÷ ( 1 + 7.7%)10= US$5.1bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$8.4b. In the final step we divide the equity value by the number of shares outstanding. Compared to the current share price of US$157, the company appears a touch undervalued at a 28% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.dcfThe AssumptionsWe would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Applied Industrial Technologies as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.7%, which is based on a levered beta of 1.107. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.SWOT Analysis for Applied Industrial TechnologiesStrengthEarnings growth over the past year exceeded the industry.Debt is not viewed as a risk.WeaknessDividend is low compared to the top 25% of dividend payers in the Trade Distributors market.OpportunityAnnual earnings are forecast to grow for the next 2 years.Trading below our estimate of fair value by more than 20%.ThreatNo apparent threats visible for AIT.Moving On:Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. DCF models are not the be-all and end-all of investment valuation. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Why is the intrinsic value higher than the current share price? For Applied Industrial Technologies, we've compiled three fundamental aspects you should consider:Risks: To that end, you should be aware of the 1 warning sign we've spotted with Applied Industrial Technologies .Future Earnings: How does AIT's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

An Intrinsic Calculation For Applied Industrial Technologies, Inc. (NYSE:AIT) Suggests It's 28% Undervalued

https://finance.yahoo.com/news/intrinsic-calculation-applied-industrial-technologies-131500558.html

55ae406e-8785-333f-8854-e557bc308472

AIZ

It has been about a month since the last earnings report for Assurant (AIZ). Shares have lost about 2.6% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Assurant due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Assurant Q2 Earnings and Revenues Surpass EstimatesAssurant, Inc. reported second-quarter 2023 net operating income of $3.89 per share, which beat the Zacks Consensus Estimate by 49.6%. The bottom line increased 32% from the year-ago quarter. The results reflected higher lender-placed net earned premiums, average insured values and premium rates and improved net investment income, offset by higher expenses.Total revenues increased 6.4% year over year to $2.7 billion due to higher net earned premiums and net investment income. The top line beat the Zacks Consensus Estimate by 4.3%. Net investment income was up 22.7% year over year to $112.9 million and beat the Zacks Consensus Estimate of $110 million. The figure was higher than our estimate of $109.2 million.Total benefits, loss and expenses increased 3.6% to $2.5 billion, mainly on account of an increase in policyholder benefits and underwriting, selling, general and administrative expenses. The figure was higher than our estimate of $2.4 billion.Segmental PerformanceRevenues at Global Housing increased 16% year over year at $561.8 million. The growth was driven by Homeowners from a rise in lender-placed policies in-force as well as higher average insured values and premium rates to address increased claims severity and higher net investment income. The figure beat the Zacks Consensus Estimate of $512 million and was higher than our estimate of $501.1 million. Adjusted EBITDA of $154.6 million surged more than two-fold year over year due to significant growth in Homeowners from higher lender-placed net earned premiums and lower non-catastrophe loss experience, including a $40 million year-over-year decrease in prior period reserve development. The figure was higher than our estimate of $80.4 million.Revenues at Global Lifestyle increased 5.3% year over year to $2.2 billion. The improvement was primarily driven by prior period sales in Global Automotive, increased Connected Living business as well as higher net investment income. The figure beat the Zacks Consensus Estimate of $2.1 billion and was higher than our estimate of $2 billion. Adjusted EBITDA of $197 million decreased 11% year over year due to lower Global Automotive and Connected Living results, including the absence of a $12.9 million gain from the sale of a real estate joint venture partnership in the prior-year period.Adjusted EBITDA loss at Corporate & Other was $28.5 million, wider than the year-ago quarter’s adjusted EBITDA loss of $24.9 million. The wider loss was due to lower net investment income from lower asset balances.Story continuesFinancial PositionLiquidity was $495 million as of Jun 30, 2023, which was $270 million higher than the company’s current targeted minimum level of $225 million. Total assets decreased 0.03% to $33.1 billion as of Jun 30, 2023 from 2022 end. The figure, however, was higher than our estimate of $32.3 billion. Total shareholders’ equity came in at $4.5 billion, up 6% year over year. The figure was higher than our estimate of $4.2 billion.Share Repurchase and Dividend UpdateIn the second quarter of 2023, Assurant repurchased 0.1 million shares for $20 million. From Jul 1 through Jul 28, 2023, AIZ repurchased additional shares for approximately $10 million. It now has $245 million remaining under the current repurchase authorization. Assurant’s total dividends amounted to $40 million in the second quarter of 2023.2023 GuidanceAssurant expects adjusted EBITDA, excluding reportable catastrophes, to increase by high single-digits, driven by significant growth in Global Housing, partially offset by a modest decline in Global Lifestyle. The company expects Global Housing Adjusted EBITDA, excluding reportable catastrophes, to grow significantly, driven by strong performance in Homeowners reflecting higher lender-placed net earned premiums combined with improving non-catastrophe loss experience, including favorable prior period reserve development.AIZ expects Global Lifestyle Adjusted EBITDA to decline modestly, largely driven by Global Automotive from elevated claims costs and less international contributions, including lower volumes and the impact of foreign exchange. The decline will be partially offset by higher investment income, expense savings to be realized over the course of the year and modest underlying Connected Living growth in North America. Corporate and Other Adjusted EBITDA loss is expected to be approximately $105 million as the company continues to drive expense leverage. Assurant expects Adjusted earnings, excluding reportable catastrophes, per diluted share growth rate to approximate Adjusted EBITDA, excluding reportable catastrophes.AIZ expects depreciation expense of nearly $110 million, interest expense of approximately $110 million and an effective tax rate in the range of 22% to 24%. Assurant expects business segment dividends to approximate 65% of segment Adjusted EBITDA, including reportable catastrophes, which takes into account the previously announced restructuring plan. This is subject to the business and investment portfolio performance and rating agency and regulatory capital requirements. Capital deployment priorities is projected to focus on maintaining a strong financial position, supporting business growth by funding investments and M&A and returning capital to shareholders through common stock dividends and share repurchases.How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.VGM ScoresAt this time, Assurant has an average Growth Score of C, however its Momentum Score is doing a bit better with a B. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Assurant has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerAssurant belongs to the Zacks Insurance - Multi line industry. Another stock from the same industry, Everest Group (EG), has gained 0.9% over the past month. More than a month has passed since the company reported results for the quarter ended June 2023.Everest Group reported revenues of $3.65 billion in the last reported quarter, representing a year-over-year change of +18.7%. EPS of $15.21 for the same period compares with $9.79 a year ago.For the current quarter, Everest Group is expected to post earnings of $6.60 per share, indicating a change of +225% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.8% over the last 30 days.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Everest Group. Also, the stock has a VGM Score of A.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAssurant, Inc. (AIZ) : Free Stock Analysis ReportEverest Group, Ltd. (EG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Assurant (AIZ) Down 2.6% Since Last Earnings Report?

https://finance.yahoo.com/news/why-assurant-aiz-down-2-153121655.html

c2b0f1fb-d16e-399e-8437-67d4437c4442

AIZ

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.Why Investors Should Pay Attention to This Value StockDifferent than growth or momentum investors, value-focused investors are all about finding good stocks at good prices, and discovering which companies are trading under what their true value is before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to help pick out the most attractive and discounted stocks.Assurant (AIZ)Founded in 1969 and headquartered in New York, Assurant Inc. is a global provider of risk management solutions in the housing and lifestyle markets, protecting where people live and the goods they buy. The company operates in North America, Latin America, Europe and Asia Pacific. Assurant was incorporated as a Delaware corporation in 2004.AIZ boasts a Value Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Assurant are trading at a forward earnings multiple of 11.1X, as well as a PEG Ratio of 0.8, a Price/Cash Flow ratio of 9.4X, and a Price/Sales ratio of 0.7X.Many value investors pay close attention to a company's earnings as well. For AIZ, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.42 to $12.58 per share for 2023. Per share AIZ boasts an average earnings surprise of 24.4%.With strong valuation and earnings metrics, a good Zacks Rank, and top-tier Value and VGM Style Scores, investors should strongly think about adding AIZ to their portfolios.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAssurant, Inc. (AIZ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Are You a Value Investor? This 1 Stock Could Be the Perfect Pick

https://finance.yahoo.com/news/value-investor-1-stock-could-134007903.html

6de804d9-0d36-391e-b7cf-d4f4cc840a8b

AJG

Arthur J. Gallagher & Co. AJG has made a strategic move by acquiring Lifesure Group Limited, a UK-based personal lines insurance broking services provider. While the terms of the deal remain undisclosed, this acquisition marks an important step for the global insurance brokerage firm. Lifesure's portfolio includes vacation/holiday and leisure insurance products, such as park home, motorhome, caravan and leisure home insurance. In addition, the acquisition encompasses Barnes Commercial, an affiliated company of Lifesure, specializing in insurance for small-to-medium businesses. This expansion aligns with Gallagher's commitment to broadening its service offerings and presence in the UK.Strengthening Retail CapabilitiesThe acquisition of Lifesure Group Limited is expected to significantly bolster Arthur J. Gallagher & Co.'s UK & Ireland Retail division. Lifesure's strong reputation for client relationships and niche expertise in personal lines insurance will enhance Gallagher's position in this market segment. J. Patrick Gallagher, Jr., chairman, president, and CEO of Arthur J. Gallagher & Co., noted, "Lifesure has an excellent reputation for client relationships and will enhance our UK retail capabilities in the niche personal lines space." This strategic move demonstrates Gallagher's commitment to serving clients with an even broader spectrum of insurance solutions.The Acquisition PipelineArthur J. Gallagher & Co. has a history of leveraging strategic acquisitions to fuel its growth. This recent acquisition reflects its dedication to identifying and integrating companies that align with its mission and values. AJG’s ability to carefully select and integrate such acquisitions has been a key driver of its success, allowing it to expand its market presence and deliver a wider range of services to clients. AJG has a strong merger and acquisition pipeline with about $350 million of revenues, associated with about 45 term sheets either agreed upon or being prepared.Domestic and International Contributions Historically, Arthur J. Gallagher & Co. has reaped significant benefits from its strategic acquisitions, both domestically and internationally. These acquisitions have played a vital role in bolstering the company's top-line growth and solidifying its position as a global insurance powerhouse. AJG’s international operations contribute about one-third of revenues. The company expects an increase in international contribution to total revenues, given the number and size of non-U.S. acquisitions.A solid capital position supports this insurance broker in its growth initiatives and it thus remains focused on continuing its tuck-in mergers and acquisitions. The company expects an M&A capacity of more than $3 billion through the end of 2023.Story continuesShare Price PerformanceShares of Arthur J. Gallagher have gained 20.3% year to date (YTD), outperforming the industry’s 12.1% increase. This Zacks Rank #3 (Hold) insurance broker’s efforts to ramp up its growth profile and capital position should continue to drive the share price higher.Zacks Investment ResearchImage Source: Zacks Investment ResearchAnother Acquisition in the Insurance SpaceMarsh & McLennan Companies, Inc.’s MMC business, Marsh, inked a deal to purchase the entire outstanding share capital of the Australia-based specialist insurance broker Honan Insurance Group Pty Ltd. Management of Marsh believes that the inclusion of Honan’s well-established capabilities, specifically in the field of corporate risk and strata insurance, will enhance its specialist competence. This, in turn, will enable Marsh to better serve its client base across Australia and New Zealand.Acquisitions form one of the core growth strategies of Marsh & McLennan. Buyouts, similar to the latest one, add strength to its capabilities, expand its services offerings and enable the company to enter new geographies as well as solidify its foothold across existing markets. An upgraded services suite is likely to lure more customers and contribute more to the revenues of MMC in the days ahead. Year to date, shares have risen 16.6%.Stocks to ConsiderSome top-ranked stocks from the same space are Erie Indemnity Company ERIE and Brown & Brown, Inc. BRO.Erie Indemnity outpaced earnings estimates in two of the last four quarters and missed the mark twice, the average surprise being 2.05%. The Zacks Consensus Estimate for ERIE’s 2023 earnings and revenues suggests a rise of 32.9% and 12.5%, respectively, from the prior-year reported figures. Year to date, its shares have risen 11.1%. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Brown & Brown’s earnings surpassed estimates in three of the trailing four quarters and missed the mark once, the average surprise being 3.98%. The Zacks Consensus Estimate for BRO’s 2023 earnings suggests 18% year-over-year growth while the same for revenues indicates an improvement of 17.6%. The consensus mark for BRO’s 2023 earnings has moved 7.2% north in the past 30 days. It carries a Zacks Rank #2 (Buy). YTD, shares have risen 27.3%.Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportMarsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis ReportArthur J. Gallagher & Co. (AJG) : Free Stock Analysis ReportBrown & Brown, Inc. (BRO) : Free Stock Analysis ReportErie Indemnity Company (ERIE) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Arthur J. Gallagher (AJG) Expands in UK With Lifesure Buyout

https://finance.yahoo.com/news/arthur-j-gallagher-ajg-expands-143300378.html

c446df5e-f6d5-3a7f-99f3-ac2c601ac45d

AJG

Arthur J. Gallagher's (NYSE:AJG) stock is up by a considerable 10% over the past three months. Since the market usually pay for a company’s long-term fundamentals, we decided to study the company’s key performance indicators to see if they could be influencing the market. In this article, we decided to focus on Arthur J. Gallagher's ROE.Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits. Check out our latest analysis for Arthur J. Gallagher How Is ROE Calculated?Return on equity can be calculated by using the formula:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Arthur J. Gallagher is:11% = US$1.1b ÷ US$10b (Based on the trailing twelve months to June 2023).The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.11 in profit.What Is The Relationship Between ROE And Earnings Growth?So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.A Side By Side comparison of Arthur J. Gallagher's Earnings Growth And 11% ROETo begin with, Arthur J. Gallagher seems to have a respectable ROE. Further, the company's ROE is similar to the industry average of 11%. This probably goes some way in explaining Arthur J. Gallagher's moderate 14% growth over the past five years amongst other factors.Story continuesAs a next step, we compared Arthur J. Gallagher's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 11%.past-earnings-growthThe basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Has the market priced in the future outlook for AJG? You can find out in our latest intrinsic value infographic research report. Is Arthur J. Gallagher Efficiently Re-investing Its Profits?Arthur J. Gallagher has a healthy combination of a moderate three-year median payout ratio of 41% (or a retention ratio of 59%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.Moreover, Arthur J. Gallagher is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 23% over the next three years. The fact that the company's ROE is expected to rise to 20% over the same period is explained by the drop in the payout ratio.ConclusionOverall, we are quite pleased with Arthur J. Gallagher's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Arthur J. Gallagher & Co.'s (NYSE:AJG) Stock Is Going Strong: Is the Market Following Fundamentals?

https://finance.yahoo.com/news/arthur-j-gallagher-co-nyse-130023176.html

8e795a47-8dfc-3883-bfdc-2c1eedd561d4

AKAM

It has been about a month since the last earnings report for Akamai Technologies (AKAM). Shares have added about 0.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Akamai Technologies due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Akamai Q2 Earnings Beat Estimates on Higher RevenuesAkamai reported solid second-quarter 2023 results, with the bottom and the top line surpassing the respective Zacks Consensus Estimate. The company reported a top-line expansion year over year, driven by healthy demand trends in the Security and Compute verticals. Management’s emphasis on the emerging market of API security solutions and acquisition of Neosec to expand portfolio and expedite innovation also supported the top line.Net IncomeNet income on a GAAP basis was $128.8 million or 84 cents per share compared with $137.8 million or 85 cents per share in the year-ago quarter. Higher operating expenses negatively impacted the bottom line during the quarter.Non-GAAP net income was $228 million or $1.49 per share compared with $216.4 million or $1.35 per share a year ago. The bottom line beat the Zacks Consensus Estimate by 8 cents.RevenuesNet sales in the June quarter totaled $935.7 million compared with $903.3 million reported in the prior-year quarter. Solid growth in the Compute and Security verticals boosted the top line. Despite declining trends, the company continues to boast a leadership position in the delivery segment by offering reliable, seamless online experiences to top brands. Revenues beat the Zacks Consensus Estimate of $932 million.By product groups, Security Technology Group contributed $432.9 million in revenues, up from $380.7 million in the prior-year quarter. The 13.7% year-over-year growth was driven by strength in web application firewall, Bot Manager and segmentation solutions. The introduction of various products strengthened the security solution portfolio during the quarter. Net sales surpassed our estimate of $426.2 million.Net sales from Delivery aggregated $379.7 million, down 8.9% from $416.7 million in the year-earlier quarter due to declining traffic growth rate among some large customers and the pricing impact of renewals. The segment’s revenues surpassed our estimate of $374.5 million.Compute segment generated $123.1 million in revenues, up from $106 million in the prior-year quarter. Price increase combined with healthy demand trends for compute solutions led to 16.1% year-over-year growth. The top line fell short of our revenue estimate of $127.6 million.Region-wise, net sales from the United States were $480.1 million, up 0.6% year over year. International revenues were $455.7 million, up from $426.2 million in the year-earlier quarter. Foreign exchange fluctuations had a negative impact of $6 million on revenues on a year-over-year basis.Story continuesOther DetailsIn the June quarter, Akamai’s total operation expenses rose to $785.9 million from $728.3 million reported in the prior-year quarter. Non-GAAP operating margin slightly improved to 29.2% from 29.1% recorded in the year-ago quarter. Adjusted EBITDA was relatively flat at $388.2 million, with respective margins of 41% and 43%.Cash Flow & LiquidityIn the second quarter of 2023, Akamai generated $366.3 million in cash from operating activities compared with $341.4 million in the prior-year quarter. As of Jun 30, 2023, the company had $298.6 million in cash and cash equivalents with $758.3 million of operating lease liabilities. During the reported quarter, Akamai repurchased approximately 1.6 million shares for around $137 million.OutlookFor the third quarter of 2023, Akamai expects revenues between $937 million and $952 million. The company expects a non-GAAP operating margin of 29%. Non-GAAP earnings are projected in the range of $1.48-$1.52 per share. Capital expenditure is anticipated to be in the band of $162-$170 million.For 2023, Akamai raised its revenue guidance to $3,765-$3,795 million from $3,740-$3,785 million estimated previously. It now expects a non-GAAP operating margin of 29% compared with the previous estimation of 28-29%. Non-GAAP earnings are now expected in the band of $5.87-$5.95 per share, up from $5.69-$5.84 per share. Capital expenditure is likely to be around 19% of total revenues.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates review.VGM ScoresAt this time, Akamai Technologies has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Akamai Technologies has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerAkamai Technologies belongs to the Zacks Internet - Services industry. Another stock from the same industry, Alphabet (GOOGL), has gained 3.7% over the past month. More than a month has passed since the company reported results for the quarter ended June 2023.Alphabet reported revenues of $62.07 billion in the last reported quarter, representing a year-over-year change of +8%. EPS of $1.44 for the same period compares with $1.21 a year ago.Alphabet is expected to post earnings of $1.45 per share for the current quarter, representing a year-over-year change of +36.8%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.6%.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Alphabet. Also, the stock has a VGM Score of B.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAkamai Technologies, Inc. (AKAM) : Free Stock Analysis ReportAlphabet Inc. (GOOGL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Akamai Technologies (AKAM) Up 0.8% Since Last Earnings Report?

https://finance.yahoo.com/news/why-akamai-technologies-akam-0-153053875.html

8733525c-fbed-3c2e-b2bc-05d699407b5c

AKAM

Akamai Technologies Inc (NASDAQ:AKAM) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at 105.86, Akamai Technologies Inc has witnessed a surge of 1.98% over a period, marked against a three-month change of 13.47%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that Akamai Technologies Inc is well-positioned for substantial growth in the near future.Warning! GuruFocus has detected 3 Warning Sign with AKAM. Click here to check it out. AKAM 30-Year Financial DataThe intrinsic value of AKAMAkamai Technologies Inc (AKAM): A Deep Dive into Financial Metrics and Competitive StrengthsWhat Is the GF Score?The GF Score is a stock performance ranking system developed by GuruFocus using five aspects of valuation, which has been found to be closely correlated to the long-term performances of stocks by backtesting from 2006 to 2021. The stocks with a higher GF Score generally generate higher returns than those with a lower GF Score. Therefore, when picking stocks, investors should invest in companies with high GF Scores. The GF Score ranges from 0 to 100, with 100 as the highest rank.Here are the key components of Akamai Technologies Inc's GF Score:1. Financial strength rank: 6/102. Profitability rank: 9/103. Growth rank: 10/104. GF Value rank: 7/105. Momentum rank: 10/10Each one of these components is ranked and the ranks also have positive correlation with the long term performances of stocks. The GF score is calculated using the five key aspects of analysis. Through backtesting, we know that each of these key aspects has a different impact on the stock price performance. Thus, they are weighted differently when calculating the total score. With a high growth rank and momentum rank, and a slightly lower financial strength rank, GuruFocus assigned Akamai Technologies Inc the GF Score of 96 out of 100, which signals the highest outperformance potential.Understanding Akamai Technologies Inc BusinessAkamai Technologies Inc, with a market cap of $16.06 billion and sales of $3.66 billion, operates a content delivery network, or CDN, which entails locating servers at the edges of networks so its customers, which store content on Akamai servers, can reach their own customers faster, more securely, and with better quality. Akamai has over 325,000 servers distributed over 4,100 points of presence in more than 1,000 cities worldwide. Its customers generally include media companies, which stream video content or make video games available for download, and other enterprises that run interactive or high-traffic websites, such as e-commerce firms and financial institutions. Akamai also has a significant security business, which is integrated with its core delivery and computing businesses to protect customers from cyberthreats.Story continuesAkamai Technologies Inc (AKAM): A Deep Dive into Financial Metrics and Competitive StrengthsFinancial Strength BreakdownAccording to the Financial Strength rating, Akamai Technologies Inc's robust balance sheet exhibits resilience against financial volatility, reflecting prudent management of capital structure. The Interest Coverage ratio for Akamai Technologies Inc stands impressively at 81.68, underscoring its strong capability to cover its interest obligations. This robust financial position resonates with the wisdom of legendary investor Benjamin Graham, who favored companies with an interest coverage ratio of at least 5. With a favorable Debt-to-Revenue ratio of 0.9, Akamai Technologies Inc's strategic handling of debt solidifies its financial health.Profitability Rank BreakdownThe Profitability Rank shows Akamai Technologies Inc's impressive standing among its peers in generating profit. Akamai Technologies Inc Operating Margin has increased (27.88%) over the past five years, as shown by the following data: 2018: 15.33; 2019: 19.98; 2020: 21.94; 2021: 23.32; 2022: 19.60. Akamai Technologies Inc's strong Predictability Rank of 4.0 stars out of five underscores its consistent operational performance, providing investors with increased confidence.Growth Rank BreakdownRanked highly in Growth, Akamai Technologies Inc demonstrates a strong commitment to expanding its business. The company's 3-Year Revenue Growth Rate is 8.6%, which outperforms better than 51.21% of 2394 companies in the Software industry. Moreover, Akamai Technologies Inc has seen a robust increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past few years. Specifically, the three-year growth rate stands at 8.2, and the rate over the past five years is 15.2. This trend accentuates the company's continued capability to drive growth.Akamai Technologies Inc (AKAM): A Deep Dive into Financial Metrics and Competitive StrengthsConclusionGiven Akamai Technologies Inc's financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights the firm's unparalleled position for potential outperformance. This analysis underscores the importance of considering these key financial metrics when making investment decisions. GuruFocus Premium members can find more companies with strong GF Scores using the following screener link: GF Score ScreenThis article first appeared on GuruFocus.

GuruFocus.com

Akamai Technologies Inc (AKAM): A Deep Dive into Financial Metrics and Competitive Strengths

https://finance.yahoo.com/news/akamai-technologies-inc-akam-deep-160659189.html

9007610e-9a62-3e52-9ffe-3c5fae8ec322

AKLI

ParticipantsJulie DiCarlo; SVP of Communications; Akili, Inc.Matthew Franklin; President & COO; Akili, Inc.Santosh Shanbhag; CFO; Akili, Inc.Scott H. Kollins; Chief Medical Officer; Akili, Inc.Walter Edward Martucci; Co-Founder, CEO & Director; Akili, Inc.Gospel M. Enyindah-Asonye; Research Associate; Morgan Stanley, Research DivisionJudah C. Frommer; Senior Analyst; Crédit Suisse AG, Research DivisionLucas Cole Romanski; Equity Research Associate; TD Cowen, Research DivisionRahul Rakhit; Research Analyst; LifeSci Capital, LLC, Research DivisionPresentationOperatorGood afternoon, ladies and gentlemen, and welcome to the Akili, Inc. Second Quarter 2023 Earnings Conference Call. (Operator Instructions) This call is being recorded on Thursday, August 10, 2023. I would now like to turn the conference over to Julie DiCarlo, Senior Vice President of Communications. Please go ahead.Julie DiCarloThank you, Chris. Good afternoon, and welcome to Akili's earnings call for the second quarter of 2023. This is Julie DiCarlo, and I'm joined on today's call by Akili's CEO, Eddie Martucci; our President and Chief Operating Officer, Matt Franklin; and our Chief Financial Officer, Santosh Shanbhag. Also joining us for the Q&A portion of today's call is Akili's Chief Medical Officer, Scott Kollins. We issued our earnings release after the market closed today. You can access the release on our Investor Relations section of our website, along with the earnings slides that we'll reference during today's call. This call is being recorded and we'll make a replay available on our website shortly after today's event. During today's call, we'll make forward-looking statements regarding future events, expectations, plans, prospects or the financial performance of the company. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the company's management involve certain risks and uncertainties. The company's actual results may differ materially from those expressed or implied by any such forward-looking statements, as a result of various important factors. Factors that might include such differences include, but are not limited to, those risks and uncertainties set forth in our Q2 -- 2023 Form 10-Q that we're filing today as well as other subsequent filings with the SEC. Information provided on today's call reflects our views only as of today, August 10, and should not be relied upon as representative of our views of any subsequent date. We explicitly disclaim any obligation to update or revise our forward-looking statements or our outlook. Also during today's call, we'll reference certain non-GAAP financial measures. Management does not intend the presentation of these non-GAAP financial measures to be considered in isolation or as a substitute for results prepared in accordance with GAAP, but as a complement to provide greater transparency. A reconciliation of the historic non-GAAP financial measures to our GAAP financial measures is included in our earnings slides and in our earnings release. If you're following along with the slides, please now turn to Slide 3 as I hand the call over to Eddie for his prepared remarks. Eddie?Story continuesWalter Edward MartucciThanks, Julie, and hello, everybody. To orient everyone, for those with slides, let me turn to Slide 4, as the business has evolved since we last spoke, and we're now operating in 2 markets in the U.S. with 2 independent products. The pediatric ADHD market with our FDA-authorized prescription product, EndeavorRx and now the adult ADHD market with our recently released over-the-counter product EndeavorOTC. For EndeavorRx and the pediatrics business, as you know, we've been live with the sales force for just over 3 quarters in our current addressable market of just over 2 million children, ages 8 to 12 and we're looking to expand the label to include adolescents with our FDA review that's underway. With EndeavorOTC, we've now entered the adult ADHD market earlier than expected, which is a market 5x larger than our current EndeavorRx market at around 11 million patients. This adult market has unique market dynamics. And as we've started to engage directly in the market with a live product, we see enthusiasm for a new treatment focusing on attention issues. In our pediatric ADHD market, we continue to see quarter-over-quarter growth in prescriptions, prescription refills and prescribers for EndeavorRx, this all tells us that the value of EndeavorRx is resonating with patients and providers increasingly so every month. That said, revenue was flat, in large part due to insurance continuing to lag and block patient access. We're seeing this insurance bear play out as the number of patients utilizing our patient assistance program increased substantially in Q2. This is clearly an issue that's broader than our product and market, as I'm sure you've recently seen the White House take the insurance industry to task for not living up to mental health parity. That eventually has to change, but we're pleased to see continued growth in the areas that we can control. Most exciting in the past quarter is our entry into the adult ADHD market. We released EndeavorOTC as an over-the-counter treatment for direct purchase by adults with ADHD. The product went live in the Apple App Store in June under FDA's COVID Enforcement Discretion Policy. It's built on the same tech as our FDA-approved product, and we decided to release the product while preparing our FDA submission because of our strong clinical data in adults and the document and growing need right now in the adult market. This initial release allowed us to assess consumer demand and inform our regulatory and commercial strategy. We look forward to sharing specific data on EndeavorOTC once we have more time in the market. But what I will share today is that based on what we've seen in the market thus far, we plan to pursue an FDA OTC regulatory path and commercial strategy for the adult market. And during this time, the product will remain on the market as we continue to optimize it. We believe the OTC business model has the potential to efficiently scale to a large market actively seeking treatment with significantly less friction compared to what we see in our prescription model and significantly less reliance on insurers. This move also places us at the forefront of the new societal shift over-the-counter models for products that are clinically validated and safe. We think we're on the right side of innovation here and are proud to pursue what, if approved, would be the first digital treatment with the FDA-authorized OTC designation. At the macro business level, we continue to carefully manage our capital as we operate and grow our business and we remain able to fund our current and planned operations into Q1 2025, which we believe is important in this current environment. I'll now turn it over to Matt and Santosh to take you through the actual data. Matt?Matthew FranklinAll right. Thanks, Eddie. I'll first start with an update on our progress in the pediatric market, then share some insights from our early experience in the adult ADHD market and then wrap up with an overview of top line results from our COVID Fog studies. As highlighted on Slide 5. In Q2, we saw continued growth across key indicators of demand for our pediatric product EndeavorRx. We added over 500 new prescribers during the quarter and grew overall prescriptions by 27% compared to Q1. This demand was offset by a 7% decrease from Q1 and the 30-day dispense rate for new prescriptions and a 2.5-fold increase in the number of caregivers who qualified for free product under our patient assistance program. This wasn't unexpected given the continued lack of insurance coverage. We also made progress on the regulatory front. As a reminder, we submitted data to FDA to include 13 to 17-year-olds in the EndeavorRx label. Our filing is currently under review with the FDA, and if successful, we look forward to making EndeavorRx available as an alternative for adolescents looking for new treatment options. Now let's turn to Slide 6, in our early experience in the large adult ADHD market. There are approximately 11 million adults with ADHD in the U.S. whose daily lives are impacted by attention issues. These individuals are increasingly demanding safe and effective nonpharmaceutical treatments, especially as they continue to experience widespread stimulant medication shortages. The shortage was the focus of the joint statement issued by -- on August 1 by FDA and DEA. With the strength of our STARS adult ADHD clinical trial data and the significant patient need, 8 weeks ago, we entered the adult market with the release of EndeavorOTC for adults with ADHD. This product release gave us access to the adult market sooner than expected, and as Eddie shared allowed us to gauge consumer demand and viability of reaching consumers directly through an over-the-counter model. As adults have the ability to manage their own health care, we intentionally chose to remove payers and prescriber intermediaries and use nonprescription approach for EndeavorOTC. The OTC model enables us to make our treatment extremely easy to access. Today, it can be downloaded directly from the Apple App Store and subscription initiated after answering a few basic eligibility questions. As Eddie mentioned, based on what we've seen so far with the EndeavorOTC release, we've made the decision to pursue an OTC regulatory and commercial strategy for the adult market. One note, we received a number of questions about the over-the-counter designation and want to be clear. An OTC designation is an FDA-authorized medical device, but one that does not require a prescription. We're on track to submit for FDA authorization as an over-the-counter product later this year. We're now optimizing key components of the business model. For example, we're testing multiple monthly and annual pricing plans. We're refining our messaging and core visuals and identifying the most cost-effective promotional channels. We're also tailoring the game experience for adult users. We have product updates coming soon and continue to gather feedback from users that will help guide future product enhancements. Again, it's early, but we like the OTC model for this adult ADHD market. And I look forward to sharing detailed data once we have a bit more time on the market. Finally, while we're on the topic of adults, I want to share a brief update on the Cornell and Vanderbilt trials evaluating our technology in adults with cognitive dysfunction following COVID infection. These independent proof-of-principle randomized controlled studies were designed to identify signals for potential future exploration and top line analysis has been completed. We did see statistical separation between the groups and the primary outcome measure. However, these are broad-based measures of cognition, not specific to retentional control, where we'd expect to see the most direct effects of our treatment. We did, however, observe compelling improvements in a number of secondary measures that assess functional outcomes such as fatigue, depression, anxiety, quality of life as well as cognitive measures associated with attention control. Across these functional and cognitive outcomes, changes were statistically significant or trending towards significance when compared to the control group. We're working with the study investigators to present these data at an upcoming scientific meeting. And with these encouraging data, we'll be engaging in discussions with potential partners on opportunities to advance research in this area. I'd now like to turn it over to Santosh, who will walk us through the key financial metrics. Santosh?Santosh ShanbhagGreat. Thank you, Matt, and hello, everyone. If you turn to Slide 7. As a reminder, an expanded EndeavorRx label combined with EndeavorOTC in the adult market has the potential to reach close to 17 million people with ADHD, and we have made incredible progress to address a large part of this population here in the United States. Let's take a look at our second quarter financials on Slide #8. From a revenue perspective, we recognized approximately $114,000 within the quarter, which were relatively flat when compared to the prior quarter of this year. We also added a new non-GAAP metric, total billings to give a better sense of actual product purchased in that period. Total billings are revenues plus the change in deferred revenue, essentially, this is what people paid us during the quarter. Total billings were $170,000 for the second quarter, which is about a 34% increase over the first quarter of this year. Moving on to expenses. We incurred approximately $15 million of GAAP total operating expenses and about $13 million of non-GAAP total operating expenses in the second quarter. The reduction in expense you see compared to the prior quarter was primarily driven by reduced G&A expense and the wind down of our clinical trials. As indicated on the slide, we continue to expect to see our non-GAAP total operating expenses for 2023 to be within the $55 million to $60 million range we had provided earlier this year. GAAP net loss was about $12 million in the quarter compared to a net loss of approximately $21 million in the first quarter of this year, and non-GAAP net loss was approximately $13 million compared to a net loss of about $14 million for the first quarter of this year. Our GAAP to non-GAAP reconciliation is available in the appendix. And last but not least, from a cash runway perspective, we ended the second quarter with approximately $106 million of cash, cash equivalents and short-term investments. As indicated on the slide, we continue to expect that our cash position at the end of the second quarter will be sufficient to fund our current and planned operations into the first quarter of 2025. I'll close on the financial update by reiterating that our current operating plan, one, builds on the continued commercial expansion into ADHD populations beyond pediatrics. And two, reserves capital, especially in these current capital market conditions. With that, I'll hand it over to Eddie. Eddie?Walter Edward MartucciThanks, Santosh. Everyone, if you turn to Slide 9, just to wrap. And you can see our highlights here. We have seen continued growth in our business model over the quarter, and we're excited about some of the upcoming developments that we've seen, and we do believe we're in a strong position to continue to execute on our goals. And so I'll turn it back over to the operator to initiate the beginning of the Q&A period.Question and Answer SessionOperator(Operator Instructions) Your first question comes from Judah Frommer, Credit Suisse.Judah C. FrommerAnd congrats on the progress here. Just a couple related to the OTC designations. How long do you anticipate you'd stay, I guess, on the App Store under the COVID Public Health Emergency. And what do you anticipate FDA is largely focused on in assigning the designation? Is it largely the safety profile of the product, anything else we should be looking for there? And what's the time line and when you think you might actually receive the designation?Walter Edward MartucciSure. Thanks, Judah, for the question. Good questions. This is Eddie. So it's a brief answer, and then I'll turn it over to Scott, our CMO, for more details. So we do intend at this point to have the product to remain on the market as we continue to optimize it during the health emergency, still health emergency and still a lot of need out there. And we'll be following the guidelines for submission, which is both efficacy and safety. That will be the dependency of the review. Scott, do you want to say a bit more about the time lines associated with this?Scott H. KollinsYes. Thanks, Eddie. So the time line, the enforcement discretion from the FDA for the COVID-related marketing ends in November. So our plan is to submit our application before then and have it under review before that time in November. And then just to add on what Eddie said in terms of the basis for the application, it will be a similar to what we had for our adolescent submission, which is a 510(k). As Eddie said, focused mainly on the efficacy and safety that we observed in our adult clinical trial.Judah C. FrommerOkay. Got it. And then just one quick follow-up on refills. And any trends you're seeing in terms of timing of refill, do you find that patients are doing kind of one after the other? Or they've taken a break in between, like, I think you had in one of your trials you had a 1-month break.Walter Edward MartucciSure. Thanks, Judah. I'll have Matt, go ahead and answer that one.Matthew FranklinYes. I think one of the beautiful things about EndeavorRx is it, it can be flexible and accommodate each individual patient's needs. So we are actually seeing kind of a wide variety of utilization. The majority of patients who get refills typically will take a break. So a month of active treatment, a break and then reinitiate a second cycle similar to the clinical study, but we also see a growing number that use it in kind of a sequential month over month. So again, a little bit of a wide range there.OperatorYour next question comes from Charles Rhyee, TD Cowen.Lucas Cole RomanskiThis is Lucas on for Charles. Obviously, it seems like the OTC product is doing well. Would be curious, I know you guys started making that available in June. Would be curious to hear, one, what sort of contribution you could see it having throughout 2023. And then two, just kind of curious, given you guys are now running 2 parallel products. Just kind of what is your marketing focus on obviously, you want to focus on ramping the adolescent product, but just kind of curious to see what resources are going to the OTC product?Walter Edward MartucciSure. Will take the first part of that. Good question, Lucas, and then I'll pass it to Santosh for a bit. So -- at a high level, we're not guiding on anything related to contribution in any of the metrics at this point. We are looking, as Matt talked about, to continue to lean into optimizing the model and learning more as it's on the app store, right? I think at this point, we've had a limited kind of early set of weeks here on the market. I think there's a lot more we can optimize and continue to learn. And so we will invest in that. As we've talked about we are not going to increase our OpEx this year. And so as we look at investing across these various opportunities across the ADHD market. We will juggle those and we will optimize in a way we think best, including some earlier and more optimization in this OTC path.Santosh ShanbhagYes. Thank you, Eddie. Just to add to that, I would say, like Eddie said, we are not providing guidance on revenues, as you know. We do expect to see the EndeavorOTC continue remain live in the market so they will obviously be some contribution of revenues through OTC. From an expense perspective, we are looking at balancing our total expenses and investments in marketing versus what we need to support the Rx business as well. But keep in mind, we are reiterating our total operating expense guidance of $55 million to $60 million for the current year, and we don't plan to change that at this current point in time.Lucas Cole RomanskiOkay. I appreciate that. And then in terms of progress with payers, last call, you guys noted that Kroger's health plan adopted coverage across their members. Curious to hear where you guys are at with conversations with other payers. Do you guys get the sense that payers are waiting for real-world evidence data. Just kind of curious to hear an update on that.Walter Edward MartucciSure. Matt?Matthew FranklinYes, it's Matt. Yes. On the insurance front, unfortunately, no new news to report there. And there's no question that this process is taking longer than we want. It's interesting, Eddie highlighted some of the challenges are not necessarily unique to Akili. We saw the White House released a memo, highlighting some of the disparities in mental health care. We continue to engage with the payers. And to answer your question, it's really kind of unique to each payer. We're working with them through their process. We're continuing to work as aggressively as we can to expand access for our patients and their families.Walter Edward MartucciYes. I'll say very clearly. I think it's clear from my perspective, from our perspective, this is not about additional data for EndeavorRx. This is not about a specific product. This is about inertia in the system, which is why we continue to engage. It's why we continue to push on this because it is an important factor for access to patients. And so I think this is just a process that has to play out.Lucas Cole RomanskiOkay. Yes, understood. And then I guess the last one, have you guys -- you might have said it earlier, have you guys given an expected time line for when you believe you can get the label expansion for adolescent population. I know you submitted on May 8. Maybe could you remind us of the time line for that?Walter Edward MartucciSure. So there's no explicit time line stated. The FDA has internal guidance in terms of their own clock and how they want to review. But there's no date. There's no -- in this regulatory type, there's no kind of PDUFA, MDUFA date. And so it is -- we can't say it's actively under review. We're working with FDA, but we can't guide on an exact time frame when a final decision would be reached.OperatorYour next question comes from Vikram Purohit, Morgan Stanley.Gospel M. Enyindah-AsonyeCongrats on the quarter. This is Gospel, on for Vikram. We have one question. And the question is, what have been some of the key areas of user feedback on Endeavor? And what are the key product updates your team is currently working through based on the feedback that you have been receiving?Walter Edward MartucciVikram, are you -- does it matter? Are you referring to EndeavorOTC or EndeavorRx?Gospel M. Enyindah-AsonyeEndeavorRx.Walter Edward MartucciIs it general?Gospel M. Enyindah-AsonyeEndeavorRx.Walter Edward MartucciEndeavorRx.Gospel M. Enyindah-AsonyeI mean, I guess -- I mean let's make it general then, just make it general.Walter Edward MartucciOkay. Yes. No problem.Matthew FranklinYes. I just want to make sure I address your specific question. I mean, I think in general, what we are hearing is an incredible unmet clinical need, right? I think we're seeing as you saw both products increase in demand, right? So there's an unmet clinical need out there. From a clinician perspective, from a patient perspective, I think they also find comfort in the rigorous science and clinical data, right? The rigorous data that backs these products and also the engaging entertainment video game format, particularly in the pediatric market, we've seen continued progress with maintaining improvement over time as well. So...Walter Edward MartucciSo yes, just to add on -- this is Eddie. It's a good question. There -- we believe that things like continuing to add features that will -- that are -- that people are asking for in terms of engagement, continuing to add data and tracking features. All of these are things that actually come up in our feedback and because we're in now 2 different markets and our volumes continue to grow, we're able to actually get a lot of volume of this feedback. And so in those areas, kind of engagement features and data and tracking, these are all areas that one, we have on road map; and two, what's really great about digital therapeutics is we have a lot of potential and latitude to add features directly to the product and release on a timely cadence. So we definitely intend to have updates coming, as Matt said, near-term updates in OTC as well as updates in Rx aimed at these areas.Matthew FranklinYes. And then specifically in adult market, we're just getting started. So we are actively in the process of optimizing that product for the specific adult users that we've engaged with. And excited, as Eddie mentioned, that we can -- one of the unique advantages of our product is that it can be kind of evergreen and refreshed to continue that cadence of updates.Operator(Operator Instructions) Your next question comes from Rahul Rakhit, LifeSci Capital.Rahul RakhitEspecially I had a question. See, I know it's pretty early, but I was just wondering if you see any kind of trends in the OTC product about where patients are kind of leaning in terms of subscriptions? Is it -- are you seeing more patients going -- opting for 1- or 2-month subscriptions versus the full year? Any color here would be pretty helpful.Walter Edward MartucciSure. Thanks. Great question, Rahul. I think it's a mix. And actually, one thing that we've really leaned into in these early weeks with EndeavorOTC is a lot of testing. And so what you'll note, while you may not be going on different devices every single day. But we are testing a range of different types of packages, pricing, et cetera, right? This is very much for us a data gathering and optimization exercise at this point. And so the best we can say really is that there's a mix, and we do see kind of monthly packages, and we do see annual subscriptions. So both of those are things that we actually see actively in the marketplace. There's not a kind of singular thing that people are relating to. And so that's -- we'll keep that in mind as we think about when we finalize pricing, what options we'll keep available for patients.Rahul RakhitGot it. Okay. And just kind of going off of that and knowing that this one might be a little harder to answer. Of the people who are opting for the 1- or 2-month prescriptions -- just give me -- in terms of kind of trend what percentage are coming back as well as what percentage and they're kind of making it through the full courses of treatment?Matthew FranklinRahul, it's Matt. Yes, I mean, pretty early. We're only in the market for 3 weeks here in Q2. So we do plan on, in the future, providing a full set of metrics to help address questions like that. But again, early, early days for us right now with the OTC model.OperatorThere are no further questions at this time. Please proceed.Walter Edward MartucciAll right. Thank you, everyone. Thanks for your attention for this quarterly call, and thanks for the engagement and questions, and we'll talk to you in the future. Thanks.OperatorThank you. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.

Thomson Reuters StreetEvents

Q2 2023 Akili Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-akili-inc-earnings-104342148.html

4c3dcfb6-2ad6-3e4d-864a-a7153d67faa2

AKLI

Akili, Inc. (NASDAQ:AKLI) Q2 2023 Earnings Call Transcript August 13, 2023Operator: Good afternoon, ladies and gentlemen, and welcome to the Akili, Inc. Second Quarter 2023 Earnings Conference Call. [Operator Instructions] This call is being recorded on Thursday, August 10, 2023. I would now like to turn the conference over to Julie DiCarlo, Senior Vice President of Communications. Please go ahead.Julie DiCarlo: Thank you, Chris. Good afternoon, and welcome to Akili’s earnings call for the second quarter of 2023. This is Julie DiCarlo, and I’m joined on today’s call by Akili’s CEO, Eddie Martucci; our President and Chief Operating Officer, Matt Franklin; and our Chief Financial Officer, Santosh Shanbhag. Also joining us for the Q&A portion of today’s call is Akili’s Chief Medical Officer, Scott Kollins. We issued our earnings release after the market closed today. You can access the release on our Investor Relations section of our website, along with the earnings slides that we’ll reference during today’s call. This call is being recorded and we’ll make a replay available on our website shortly after today’s event.During today’s call, we’ll make forward-looking statements regarding future events, expectations, plans, prospects or the financial performance of the company. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the company’s management involve certain risks and uncertainties. The company’s actual results may differ materially from those expressed or implied by any such forward-looking statements, as a result of various important factors. Factors that might include such differences include, but are not limited to, those risks and uncertainties set forth in our Q2 – 2023 Form 10-Q that we’re filing today as well as other subsequent filings with the SEC. Information provided on today’s call reflects our views only as of today, August 10, and should not be relied upon as representative of our views of any subsequent date.Story continuesWe explicitly disclaim any obligation to update or revise our forward-looking statements or our outlook. Also during today’s call, we’ll reference certain non-GAAP financial measures. Management does not intend the presentation of these non-GAAP financial measures to be considered in isolation or as a substitute for results prepared in accordance with GAAP, but as a complement to provide greater transparency. A reconciliation of the historic non-GAAP financial measures to our GAAP financial measures is included in our earnings slides and in our earnings release. If you’re following along with the slides, please now turn to Slide 3 as I hand the call over to Eddie for his prepared remarks. Eddie?Eddie Martucci: Thanks, Julie, and hello, everybody. To orient everyone, for those with slides, let me turn to Slide 4, as the business has evolved since we last spoke, and we’re now operating in two markets in the U.S. with two independent products. The pediatric ADHD market with our FDA-authorized prescription product, EndeavorRx and now the adult ADHD market with our recently released over-the-counter product EndeavorOTC. For EndeavorRx and the pediatrics business, as you know, we’ve been live with the sales force for just over three quarters in our current addressable market of just over 2 million children, ages 8 to 12 and we’re looking to expand the label to include adolescents with our FDA review that’s underway.With EndeavorOTC, we’ve now entered the adult ADHD market earlier than expected, which is a market 5x larger than our current EndeavorRx market at around 11 million patients. This adult market has unique market dynamics. And as we’ve started to engage directly in the market with a live product, we see enthusiasm for a new treatment focusing on attention issues. In our pediatric ADHD market, we continue to see quarter-over-quarter growth in prescriptions, prescription refills and prescribers for EndeavorRx, this all tells us that the value of EndeavorRx is resonating with patients and providers increasingly so every month. That said, revenue was flat, in large part due to insurance continuing to lag and block patient access. We’re seeing this insurance bear play out as the number of patients utilizing our patient assistance program increased substantially in Q2.work, job, officePhoto by Redd on UnsplashThis is clearly an issue that’s broader than our product and market, as I’m sure you’ve recently seen the White House take the insurance industry to task for not living up to mental health parity. That eventually has to change, but we’re pleased to see continued growth in the areas that we can control. Most exciting in the past quarter is our entry into the adult ADHD market. We released EndeavorOTC as an over-the-counter treatment for direct purchase by adults with ADHD. The product went live in the Apple App Store in June under FDA’s COVID Enforcement Discretion Policy. It’s built on the same tech as our FDA-approved product, and we decided to release the product while preparing our FDA submission because of our strong clinical data in adults and the document and growing need right now in the adult market.This initial release allowed us to assess consumer demand and inform our regulatory and commercial strategy. We look forward to sharing specific data on EndeavorOTC once we have more time in the market. But what I will share today is that based on what we’ve seen in the market thus far, we plan to pursue an FDA OTC regulatory path and commercial strategy for the adult market. And during this time, the product will remain on the market as we continue to optimize it. We believe the OTC business model has the potential to efficiently scale to a large market actively seeking treatment with significantly less friction compared to what we see in our prescription model and significantly less reliance on insurers. This move also places us at the forefront of the new societal shift over-the-counter models for products that are clinically validated and safe.We think we’re on the right side of innovation here and are proud to pursue what, if approved, would be the first digital treatment with the FDA-authorized OTC designation. At the macro business level, we continue to carefully manage our capital as we operate and grow our business and we remain able to fund our current and planned operations into Q1 2025, which we believe is important in this current environment. I’ll now turn it over to Matt and Santosh to take you through the actual data. Matt?Matt Franklin: Alright. Thanks, Eddie. I’ll first start with an update on our progress in the pediatric market, then share some insights from our early experience in the adult ADHD market and then wrap up with an overview of top line results from our COVID Fog studies. As highlighted on Slide 5. In Q2, we saw continued growth across key indicators of demand for our pediatric product EndeavorRx. We added over 500 new prescribers during the quarter and grew overall prescriptions by 27% compared to Q1. This demand was offset by a 7% decrease from Q1 and the 30-day dispense rate for new prescriptions and a 2.5-fold increase in the number of caregivers who qualified for free product under our patient assistance program. This wasn’t unexpected given the continued lack of insurance coverage.We also made progress on the regulatory front. As a reminder, we submitted data to FDA to include 13 to 17-year-olds in the EndeavorRx label. Our filing is currently under review with the FDA, and if successful, we look forward to making EndeavorRx available as an alternative for adolescents looking for new treatment options. Now let’s turn to Slide 6, in our early experience in the large adult ADHD market. There are approximately 11 million adults with ADHD in the U.S. whose daily lives are impacted by attention issues. These individuals are increasingly demanding safe and effective non-pharmaceutical treatments, especially as they continue to experience widespread stimulant medication shortages. The shortage was the focus of the joint statement issued by – on August 1 by FDA and DEA.With the strength of our STARS adult ADHD clinical trial data and the significant patient need, 8 weeks ago, we entered the adult market with the release of EndeavorOTC for adults with ADHD. This product release gave us access to the adult market sooner than expected, and as Eddie shared allowed us to gauge consumer demand and viability of reaching consumers directly through an over-the-counter model. As adults have the ability to manage their own health care, we intentionally chose to remove payers and prescriber intermediaries and use non-prescription approach for EndeavorOTC. The OTC model enables us to make our treatment extremely easy to access. Today, it can be downloaded directly from the Apple App Store and subscription initiated after answering a few basic eligibility questions.As Eddie mentioned, based on what we’ve seen so far with the EndeavorOTC release, we’ve made the decision to pursue an OTC regulatory and commercial strategy for the adult market. One note, we received a number of questions about the over-the-counter designation and want to be clear. An OTC designation is an FDA-authorized medical device, but one that does not require a prescription. We’re on track to submit for FDA authorization as an over-the-counter product later this year. We’re now optimizing key components of the business model. For example, we’re testing multiple monthly and annual pricing plans. We’re refining our messaging and core visuals and identifying the most cost-effective promotional channels. We’re also tailoring the game experience for adult users.We have product updates coming soon and continue to gather feedback from users that will help guide future product enhancements. Again, it’s early, but we like the OTC model for this adult ADHD market. And I look forward to sharing detailed data once we have a bit more time on the market. Finally, while we’re on the topic of adults, I want to share a brief update on the Cornell and Vanderbilt trials evaluating our technology in adults with cognitive dysfunction following COVID infection. These independent proof-of-principle randomized controlled studies were designed to identify signals for potential future exploration and top line analysis has been completed. We did see statistical separation between the groups and the primary outcome measure.However, these are broad-based measures of cognition, not specific to retentional control, where we’d expect to see the most direct effects of our treatment. We did, however, observe compelling improvements in a number of secondary measures that assess functional outcomes such as fatigue, depression, anxiety, quality of life as well as cognitive measures associated with attention control. Across these functional and cognitive outcomes, changes were statistically significant or trending towards significance when compared to the control group. We’re working with the study investigators to present these data at an upcoming scientific meeting. And with these encouraging data, we’ll be engaging in discussions with potential partners on opportunities to advance research in this area.I’d now like to turn it over to Santosh, who will walk us through the key financial metrics. Santosh?Santosh Shanbhag: Great. Thank you, Matt, and hello, everyone. If you turn to Slide 7. As a reminder, an expanded EndeavorRx label combined with EndeavorOTC in the adult market has the potential to reach close to 17 million people with ADHD, and we have made incredible progress to address a large part of this population here in the United States. Let’s take a look at our second quarter financials on Slide #8. From a revenue perspective, we recognized approximately $114,000 within the quarter, which were relatively flat when compared to the prior quarter of this year. We also added a new non-GAAP metric, total billings to give a better sense of actual product purchased in that period. Total billings are revenues plus the change in deferred revenue, essentially, this is what people paid us during the quarter.Total billings were $170,000 for the second quarter, which is about a 34% increase over the first quarter of this year. Moving on to expenses. We incurred approximately $15 million of GAAP total operating expenses and about $13 million of non-GAAP total operating expenses in the second quarter. The reduction in expense you see compared to the prior quarter was primarily driven by reduced G&A expense and the wind down of our clinical trials. As indicated on the slide, we continue to expect to see our non-GAAP total operating expenses for 2023 to be within the $55 million to $60 million range we had provided earlier this year. GAAP net loss was about $12 million in the quarter compared to a net loss of approximately $21 million in the first quarter of this year, and non-GAAP net loss was approximately $13 million compared to a net loss of about $14 million for the first quarter of this year.Our GAAP to non-GAAP reconciliation is available in the appendix. And last but not least, from a cash runway perspective, we ended the second quarter with approximately $106 million of cash, cash equivalents and short-term investments. As indicated on the slide, we continue to expect that our cash position at the end of the second quarter will be sufficient to fund our current and planned operations into the first quarter of 2025. I’ll close on the financial update by reiterating that our current operating plan, one, builds on the continued commercial expansion into ADHD populations beyond pediatrics. And two, reserves capital, especially in these current capital market conditions. With that, I’ll hand it over to Eddie. Eddie?Eddie Martucci: Thanks, Santosh. Everyone, if you turn to Slide 9, just to wrap. And you can see our highlights here. We have seen continued growth in our business model over the quarter, and we’re excited about some of the upcoming developments that we’ve seen, and we do believe we’re in a strong position to continue to execute on our goals. And so I’ll turn it back over to the operator to initiate the beginning of the Q&A period.See also Jim Chanos’ 5 Short Positions in 2023 and 11 Cheap Gold Stocks To Buy According to Analysts.To continue reading the Q&A session, please click here.

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Akili, Inc. (NASDAQ:AKLI) Q2 2023 Earnings Call Transcript

https://finance.yahoo.com/news/akili-inc-nasdaq-akli-q2-132602117.html

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AKTS

ParticipantsDavid M. Aichele; EVP of Business Development; Akoustis Technologies, Inc.Jeffrey B. Shealy; Founder, President, CEO & Director; Akoustis Technologies, Inc.Kenneth E. Boller; CFO & Corporate Controller; Akoustis Technologies, Inc.Thomas Andrew Sepenzis; VP of Corporate Development & IR; Akoustis Technologies, Inc.Anthony Joseph Stoss; Partner & Senior Research Analyst; Craig-Hallum Capital Group LLC, Research DivisionCraig Andrew Ellis; Senior MD, Director of Research and Senior Semiconductor & Capital Equipment Analyst; B. Riley Securities, Inc., Research DivisionSuji Desilva; MD & Senior Research Analyst; ROTH MKM Partners, LLC, Research DivisionPresentationOperatorGood day, ladies and gentlemen, and welcome to the Akoustis Technologies Fiscal 2023 Fourth Quarter Conference Call. As a reminder, this conference call is being recorded.At the conclusion of the company's presentation, Akoustis' management will take questions. (Operator Instructions) A replay of the call will be available on the Investor Relations section of the Akoustis' website.I would now like to turn the floor over to Tom Sepenzis.Thomas Andrew SepenzisThank you, operator, and good morning to everyone on the call. Welcome to Akoustis' fourth quarter fiscal 2023 conference call. We're joined today by our Founder and CEO, Jeff Shealy; CFO, Ken Boller; and EVP of Business Development, Dave Aichele.Before we begin, please note that today's presentation includes forward-looking statements about our business outlook. All statements other than statements of historical facts included in this conference call, such as expectations regarding our strategies and operations, including the timing and prospects of product development and customer orders and design wins, possible collaborative or partnering relationships, litigation matters, and expected financial and operating results are forward-looking statements.Such forward-looking statements are predictions based on the company's expectations as of today and are subject to numerous risks and uncertainties. The company and our management team assume no obligation to update any forward-looking statements made on today's call.Our SEC filings mention important factors that could cause the actual results to differ materially. Please refer to our latest Form 10-K and Form 10-Q filed with the SEC to get a better understanding of those risks and uncertainties.In addition, our presentation today, we'll also refer to certain non-GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measure is presented in our earnings call highlight release available in the Investors Section of akoustis.com.I would now like to turn the call over to Jeff Shealy, Founder and CEO of Akoustis.Story continuesJeffrey B. ShealyThank you, Tom, and welcome everyone to our fiscal fourth quarter conference call. During the quarter, we were able to deliver our seventh consecutive quarter of record sales as revenue growth in the June quarter was within our guided range of up 10% to 20% sequentially.This was driven by a 41% sequential growth in filter products revenue with continuing WiFi 6E ramps across the enterprise market, increased activity in service provider and consumer markets, as well as shipments to our Tier-1 5G mobile RF component customer, for broad sampling of its multiplexer for 5G mobile devices.Additionally, we experienced a rebound in our SAW filter, automotive and timing control business during the June quarter and we expect this business to show further gains moving forward as new products are introduced, which I will describe in greater detail shortly.During the June quarter, we had 2 customers that made up greater than 10% of our revenue. XBAW-related sales accounted for the top 5 customers and 6 out of the top 10 customers. Our top 10 customers made up 63% of our revenue. Our top 25 customers made up 77% of revenue.In terms of regional sales, 3 out of our top 10 customers were Asia-based. Finally, our top 2 customers in Q4 increased their sequential revenue with Akoustis by 18% and 3%, respectively.We are experiencing the same challenging end-market environment that has been noted by many of our customers and industry peers over the past several weeks as high component inventory levels, weak consumer electronics demand, particularly in mobile handsets, and a slower return to office implementation have negatively impacted multiple segments of the consumer electronics industry.This corresponds with a slower-than-expected rebound in the automotive, 5G mobile devices and network infrastructure and WiFi markets with focused weakness in both consumer and service provider markets. As a result, we expect revenue for the September quarter to be down approximately 15%.Despite these macro challenges, we continue to receive new design wins and introduce new products that we expect will facilitate substantial revenue growth over the next 24 months.I would now like to take a moment to discuss the recent developments involving the CHIPS and Science Act of 2022. Regarding CHIPS Act funding, the domestic manufacturing program is being implemented by the Department of Commerce or DOC. R&D investments in nanotechnology and the creation of regional high-tech hubs are being driven by the Department of Defense or DoD.Akoustis' current activity includes, proposal activity with both the DOC and DoD-related programs for domestic semiconductor manufacturing, R&D and the commercialization of leading-edge nanotechnologies. As of today, we have submitted one DoD proposal with Akoustis as the lead contractor or hub, focused on electronic warfare or EW for defense applications. The proposed 5-year contract, if awarded, has an initial program budget of over $150 million. We currently expect the DoD to announce their award selections by the end of September.Akoustis is seeking to expand its domestic manufacturing footprint, including both semiconductors and advanced packaging at our New York campus under the DOC CHIPS for America program. We are currently awaiting feedback on our pre-application from the DOC, and we expect to file a final application by the end of the calendar year and expect a program (technical difficulty) in calendar year 2024.We continue to plan our CHIPS application around multiple semiconductor partners which intend to manufacture semiconductor materials, wafers and/or packaging on our New York manufacturing campus.Next, I would like to discuss several compelling updates in our primary target markets, beginning with WiFi. One of our milestones during the June quarter was to deliver 2 additional WiFi design wins, and we received 4 new wins, all of which are expected to ramp over the next 12 months. These design wins include high-frequency WiFi 6E and WiFi 7 XBAW filter solutions as well as 2.4 gigahertz BAW filter solutions.During the June quarter, we began sampling our new 5.6 and 6.6 gigahertz WiFi 6E and WiFi 7 filter solutions to multiple customers. These new parts offer approximately 4x size reduction compared to earlier generation parts and initial feedback has been positive.We have received our first design win for these new filter solutions for our consumer-focused WiFi 6E platform with a multi-user, multiple-in, multiple-out or MU-MIMO architecture. We now have multiple catalogs in customer WiFi 6E and WiFi 7 XBAW filter solutions that are currently selling in the market.While the overall WiFi market has been impacted over the past 12 months by excess inventory driven by component shortages in 2021 and 2022, and slowing WiFi AP demand post-COVID, we do expect improvement in the next 6 months with normalized inventory levels returning in calendar 2024.With our continuing design win traction, as evidenced by the 4 new design wins in the June quarter, we expect strong growth in our WiFi business to continue in calendar 2024 and beyond. This will be driven by our expanding portfolio of catalog WiFi products in the spectrum covering 2.4 gigahertz to 7.1 gigahertz combined with our ability to rapidly deliver customized solutions.Looking ahead, in the September quarter, we expect to receive a design win for next-generation WiFi 7 hardware with a consumer-focused OEM. Further, we also expect to receive a design win for our next-generation WiFi 7 solution with a Tier-1 U.S.-based carrier. And finally, we plan to secure design wins for our Tier-1 enterprise-class customers' WiFi 7 suite of routers and access points.Next, I would like to discuss our recent developments in the 5G mobile market. We continue to ship our initial 5G mobile filter to our Tier-1 customer in the June quarter. The customer has been sampling its multiplexer that uses our filter and has been waiting for its chipset reference design partner to launch its baseband into the China market.During the June quarter, our 5G mobile customer brought a Tier-1 smartphone tablet OEM to our Canandaigua, New York fab to perform its own quality audit of our facility and manufacturing process. We successfully passed the audit, including 2 offshore assembly and test locations, further validating our technology and manufacturing capability. This was our first audit by a Tier-1 handset OEM. So this was a major milestone for our company.We delivered 2 newly developed WiFi 7 filter samples to our Tier-2 mobile customer during the June quarter, and we continue to expect these filters to be qualified and ready for production in the first half of calendar 2024. These 2 new filters are being developed using our foundry process with the customer creating its own designs using our advanced machine learning-driven, AI product development kit, or PDK.Our customers decide it would like to make minor changes to the first design, and we expect to begin redesign later this year. Our anticipated milestones for the September quarter include: we expect to receive an order for a 2.4 gigahertz WiFi filter for our Tier-2 5G mobile RF front-end module-making customer.I will now discuss our progress in our network infrastructure business. During the June quarter, we continued XBAW filter shipments to our CBRS customers targeting the U.S. market. We are seeing the 5G Open Radio Access Network or O-RAN market slow along with the broader RAN market as operators take inventory of existing developments.We do expect the small cell market to improve in calendar 2024 as carriers throughout the U.S., Europe, the Middle East and Africa begin to deploy sub-5 gigahertz networks due to increased data demands. We expect carriers to deploy small cells in greater numbers in 5G networks to expand capacity and improve service.We had several major developments in our network infrastructure business during the June quarter. First, we successfully delivered samples of 7 gigahertz XBAW filters to a Tier-1 European 5G network infrastructure OEM. We were also awarded a development order for a new high-band massive MIMO filter design from the same Tier-1 OEM aimed at the new 7 gigahertz spectrum for 5G base station applications.For the September quarter, we expect to secure a fourth design win in 5G from a new massive MIMO customer. Furthermore, we are currently working to engineer new improved samples of our 5G band 41 and 5G U.S. 3.8 gigahertz network infrastructure filter solutions. We expect to finalize the design and provide samples in the December quarter.And now finally, I would like to provide an update on our defense and other businesses. During the June quarter, we achieved several milestones in our Defense and other market segment. We successfully broadened the sampling of our new automotive CV2X XBAW filter solution to multiple customers, while we have been involved in the automotive market, delivering RFMI, SAW filter and crystal components. The introduction of our new XBAW solution for CV2X should significantly expand our potential TAM for the automotive market.Our new CV2X filter operates between 5.855 gigahertz and 5.925 gigahertz and allows for device-to-device and device-to-network connections for multiple applications aimed at providing safe and effective communication within vehicles. Our new patented filter delivers low-loss performance and enables high-power handling capabilities that establish long-range connectivity for CV2X applications.We also successfully delivered the second of 2 resonators for the timing control market after our customers asked for wider bandwidth performance earlier in the year. We are now working on qualifying this resonator and our customer is finalizing the development of its low jitter oscillator product that is aimed at multiple end markets. During the quarter, we were also able to secure a development order for a new millimeter wave XBAW filter for a Tier-1 defense customer.Our biggest success in the Defense and Other Market segment was the introduction of our new XP3F technology, which incorporates a new revolutionary multilayer nanomaterial that incorporates our patented single crystal piezoelectric material. This new nanomaterial was developed with funding from the Defense Advanced Research Projects Agency, or DARPA, to scale the XBAW technology to frequencies up to 18 gigahertz.The new piezoelectric material stack and the accompanying manufacturing process enables high-Q micro-acoustic wide bandwidth filter solutions that will provide improved coexistence compared to competing high-frequency LTCC, IPD and PCB solutions.We believe the XP3F technology could present Akoustis with significant opportunities in X-band radar, SATCOM, Ku band and upcoming 5G, 6G FR3 spectrum, and we are receiving significant customer interest in both defense and commercial markets.For the September quarter, in the defense and other market segments, we are expecting to secure a design win of at least one of the following: crystal oscillator, BAW filter and/or SAW filter used in automotive wireless battery management systems or wBMS solutions used in a Tier-1 IC reference design, and we also expect to complete the qualification of the second XBAW resonator for a timing control customer.And now, I would like to hand the call over to Ken to go through our financial highlights.Kenneth E. BollerThank you, Jeff. For the fourth quarter ended June 30, 2023, the company reported revenue of $8.3 million, which is an increase of more than 13% over the prior quarter ended March 31, 2023, and represents an increase of 60% year-over-year.On a GAAP basis, operating loss was $17.9 million for the June quarter, driven by revenue of $8.3 million, offset by labor costs of $8.6 million, depreciation and amortization of $3.3 million and other operational costs totaling $14.3 million. As a result, GAAP net loss per share was $0.25.On a non-GAAP basis, operating loss was $15 million and non-GAAP net loss per share was $15.2 million. Reconciliation of these amounts to the corresponding GAAP measures is available in the press release issued this morning available on the Investors Section of our corporate website.CapEx spending for Q4 was $1.2 million, a decline from $2.1 million in the prior quarter as we placed into service the last of our ordered equipment of the company's New York fab expansion.Cash used in operating activities was $8.7 million, which represents the second quarter in a row of double-digit improvement as operating cash spending is down another 12% from $9.9 million in the prior quarter. The company exited the June quarter with $43.1 million of cash and cash equivalents versus $52.7 million at the end of the previous quarter.In the September quarter, we expect revenue to be down approximately 15% given the broader market weakness along with associated inventory correction. Despite these challenges, we continue to receive design wins and introduce new products that we expect will help us grow our revenue substantially moving forward.I will now turn the call back over to Jeff for his closing comments.Jeffrey B. ShealyThank you, Ken. Before I wrap up the call, I would like to provide a brief update on pending litigation matters with respect to the lawsuit Qorvo filed against Akoustis in Delaware in 2021, work on the case continues. The company continues to develop its defenses and mitigation strategies and intends to proceed in defending itself vigorously against claims asserted by Qorvo.Turning to the patent infringement case filed by Akoustis against Qorvo in the Eastern District of Texas, Qorvo has filed a motion to dismiss the case as well as a motion to strike Akoustis' infringement contentions. These motions are typical tactics used by defendants at this early stage of litigation.For example, in its motion to strike, Qorvo argues that Akoustis should be required to provide individual claim charts for each of the 1,015 Qorvo products accused of infringement in the case. One key takeaway from these updates is the complexity and evolving nature of Akoustis' disputes with Qorvo.Although, we can provide no assurance as to the outcome of the disputes with Qorvo, Akoustis remains focused on advancing the interest of the company and its shareholders in both cases to obtain the best possible outcome.And now, I would like to finish by stating that notwithstanding a persistent challenging macroenvironment for the broader semiconductor industry, we are positioned to continue to deliver top-line revenue and unit growth over the next 24 months and beyond driven by 5G mobile, WiFi, automotive, defense and other markets.During the June quarter, we sampled new products, including our 5.6 gigahertz to 6.6 gigahertz WiFi 6E and 7 filters as well as our new CV2X filter, and introduced a new resonator for the timing control market. We successfully passed a major milestone with a successful audit at our New York fab facility from one of the largest handset and tablet manufacturers in the world, along with our OSAT provider.In conclusion, we believe the market opportunity for our patented high-frequency XBAW and XP3F filters is substantial. As of August 25, 2023, we have 104 issued patents and 108 patents pending as we continue to build a substantial IP moat around our technology. We continue to work diligently to achieve each of our stated objectives, and we will continue to provide updates on our execution against these objectives going forward.Finally, I would like to once again thank our employees for their hard work, passion, and dedication, which account for multiple design wins across the WiFi, 5G, network infrastructure, automotive, and defense markets. We have also experienced exceptional momentum in the 5G mobile market, driven by our industry-leading XBAW filters that operate above 3 gigahertz and our new and expanding wafer-level packaging capabilities. I also wish to thank our shareholders who continue to support the company.And with that, I would like to open the call for questions from the investment community.Operator, please go ahead with the first question.Question and Answer SessionOperator(Operator Instructions) Our first question today is from the line of Anthony Stoss with Craig-Hallum.Anthony Joseph StossHey, Jeff, congrats, I guess, on all the activity surrounding and the progress. 3 questions I wanted to hear from you today. On the WiFi 7 side, just can you paint a picture when do you expect kind of volume revenues? Similar question on the smartphone tablet customer that just passed your -- audit of your facilities and I have a follow-up.Jeffrey B. ShealySo as we said, we've seen despite the WiFi slowdown that we're seeing in the carrier and enterprise, we've seen a significant pickup in the WiFi 7 activity, which is a real bright spot. So in terms of the specific customer activity, let me let Dave kind of articulate what's going on there and also kind of what level we got and what he sees in the mobile space.David M. AicheleOn the WiFi 7, where I see the activity of that picking up is Q2 of next year. We've got engagements, both in the carrier sector and also in the enterprise sector, active designs that are starting their development runs, and then they'll start working through qualifications later this year. So I expect WiFi 7, both of those sectors to pick -- start in Q2 of next year. There's other activities as well with other customers that may trail quarter after that and these are 2 of our top-tier customers that we deal with right now.On the smartphone tablet, as we highlighted a successful major milestone of passing the audit. And we've had multiple Tier-1 audits from other market segments. This is the first one we had in the smartphone side. So a huge accomplishment on the Akoustis side and also with OSAT provider. So that one, it's an engagement that we're going to track and watch. We'll be able to give better guidance in later quarters as we see, obviously traction with this customer.Jeffrey B. ShealyAnd Tony, let me add to that. On the mobile front, that's an area where that's -- in the other segments, we actually engage directly with the OEM. This one is one where we engage with a third party. So as we previously stated that our part goes into a more complex module, which then has to be -- is sold into a reference design, which we previously stated that, that's targeting the China market. That China market has limited visibility and also some pretty significant headwinds in it as outlined by others in the space.Anthony Joseph StossAnd then lastly, probably a bigger question. Gross margins remained negative even while revenues have grown. Can you give us a sense of where you expect gross margins to pass over to being positive? What kind of metrics you need to get them above 30%? And maybe if you can update us on when you now expect kind of the cash flow breakeven on a quarterly basis?Jeffrey B. ShealyGood opportunity to bring Ken in. So Ken, why don't you start it?Kenneth E. BollerFor gross margins, we are undertaking a number of initiatives to improve our margins to switch over, as you said, to positive. Those are predominantly increasing utilization of our New York fab being one of them as well as decreasing a lot of our back-end costs. Our initial products were larger sizes, mostly 3.5 by 3.5. Our laminate sizes are coming down in size, which dramatically reduces the cost, as well as some cost savings with our providers, the OSATs.And our new products are also much smaller size and much lesser back-end costs associated with those products as they come online. So we expect, as we improve our laminate reductions and other measures in bringing on new projects that those margins will come down and you'll start to see them become positive in the next few quarters.And then, as you mentioned, operating cash flow breakeven. We expect that to occur in the October 2024 quarter and still with the same guidance as before when we get to about $15 million to $18 million of revenue per quarter. But also of note, I will say that we've seen operating cash flow decline 12% each quarter for the last 2 quarters. And we have undertaken a number of prudent, but necessary cost-saving initiatives recently, which includes expense controls and aligning our resources to our current customer -- to our current business model. So I expect that operating cash flow to continue to decline, and we're taking measures to make sure that happens and then margins will improve as we see new products come online.Jeffrey B. ShealyAnd Tony, this is Jeff. Just to add to that, I think Ken has previously stated and just to kind of complete the picture. As we transition those gross margins with these cost savings plans, we expect at the time of cash flow breakeven, the gross margins will be in the roughly the 30% range is what we're projecting in how we're modeling it.OperatorOur next question is from the line of Craig Ellis with B. Riley Securities.Craig Andrew EllisAnd Jeff and Ken, congratulations on all the customer progress in the most recent quarter. I wanted to follow up on the color for September revenues down 15% quarter-on-quarter. Can you talk a little bit about the gives and takes by the different product groups for the September quarter?And then, Jeff, can you talk about your confidence that the September quarter would be the bottom in quarterly revenues or the potential for there to be a further decrease out in the fiscal second quarter time frame ending in December?Jeffrey B. ShealySo let me just outline and just provide some contrast over what we're seeing relative to Q4. So we expect the September quarter or Q1 to experience the following. We're seeing some slowdown in mobile and WiFi, as I mentioned, particularly the carrier and enterprise-class offset by the WiFi 7 activity pickup. So we see that softness in the WiFi for a period of 1 to 2 quarters.We are seeing and experiencing a seasonal slowdown in some of the foundry services. We have, as some of -- as part of our foundry services, we also connect in some of the R&D government contracts that we have. We're right in the middle of transitioning from a first or a Phase I program to a Phase II program. So we're certainly seeing that hit in the September quarter as we make that transition.I will point to that DARPA program that I'm referring to. We were extremely successful. And I think out of the 7 participants, we hit every milestone the customer put in front of us related to that P3F technology we were developing. So we're very bullish on that approach going forward.And then finally, also in the Q1 September quarter, we see some lead time in supply chain constraints, particularly in the -- in one of our particular Asia OSAT. So those are -- that's really the kind of the puts and takes. But that's really the macroenvironment that we're navigating now.In terms of confidence, to your second question, in terms of the confidence that September will be a bottom, what we're projecting is 1 to 2 quarters. We're seeing -- I think we mentioned in the script, particularly in WiFi, there has been some inventory buildup in the channel, which needs to clear, and we're projecting 1 to 2 quarters.So I think internally if you look how we model it is, I would say, we're going to see some softness certainly in the December quarter. That's probably comparable to what we're seeing in the September quarter. But then March quarter began picking back up with the programs that we're currently delivering our products to. There's several in the WiFi space. And we see those picking up and see some nice design wins already coming together for those quarters. So I think I've addressed your question. Any follow-up, please go ahead.Craig Andrew EllisThe follow-up question may be for Dave, and it's digging into mobile and the potential for some of the successful activity with different customers to move into a production ramp. And I'll just use the China market as an example. So if we look out at key China selling seasons where the leading players would be developing new product, we've got Golden Week early in October; Singles' Day, November; Lunar New Year in the January-February time frame. And then May Day further out in mid-2Q. As you're engaging with your module partners and other players, when does it look like it would be reasonable for investors to expect more of a volume production ramp if we take those selling seasons as a proxy?David M. AicheleThanks for the question, Craig. I think the -- and Jeff touched on this, our component customer that we've engaged with this, we've made some shipments last quarter and it's into a multiplex that's going into the China market on a reference design. So we've seen limited activity. Right now, I think everybody is aware, obviously, of the depressive state that the China mobile market is in. So we do not have a direct finger on the pulse to the OEMs there. It's something that we have to go through our customer, obviously, to get those visibilities. And so, we're getting updates quarterly on the take rates and the traction. So we'll watch that closely. It's hard to really give any strong guidance until we start seeing some positive trends in that mobile market in China.The other part is, the other engagements we have with the RF front-end module guys, is mainly focused. I think we've guided in the past focusing on later-year models. And that is one that we've been validating the technology. We've shipped, as we've said in previous quarterly calls that we've shipped solutions that have been validated by them, and it's really navigating a strategy of implementing our technology into those modules. So that's still underway. So the guidance right now has been the out-years on when we would see that take rates. Obviously, as we have better visibility to the platforms to be integrated, we can provide more concrete updates.Jeffrey B. ShealyAnd Craig, let me just add to that from the mobile segment, I just want to emphasize -- reemphasize the quality audit we passed. We actually -- we did continue making shipments to that customer during the June quarter. And also would add, our WLP was part of the supply chain, that's the packaging -- critical packaging for that. That was part of the audit that we passed. And so we're prepared to ship the pieces from our end. There's been no delay on our end, and that supply chain is working really well. So I just want to emphasize how we're positioned, at least to service that market as we've already demonstrated with shipments for the last 2 quarters.Craig Andrew EllisSo certainly, it seems like you're executing well on the things that you can control, and it's been very well publicized that the Android market is unusually weak, especially in China. If I could sneak a last one in. Jeff, nice update on your specific plans with both the CHIPS Act and DoD, and you mentioned some milestones. Are there any intermediate update points that investors could look to as it relates to potential funding for either source?Jeffrey B. ShealySo if you look historically, when -- from the time that we've been notified of an award decision, that's -- we have to negotiate a contract and the company's position is until we're under contract, we don't make any public announcements because those have to be negotiated and some of the terms of those have to be worked through. So I think the -- we certainly will have an update. We'll provide another update. Just being the year-end for us, it's kind of a short cycle until we're back on with investors after the September quarter. So certainly, we think in the early October when we report again that -- excuse me, in the early November time frame when we report again, we'll have an update. And I would not anticipate we'd be under contract before then.OperatorOur next question is from the line of Suji Desilva with ROTH MKM.Suji DesilvaCongrats on the progress here. So can you give us a sense of the WiFi 7 ramp that's coming? Maybe how to size that opportunity to think about it relative to prior WiFi ramps, perhaps attach rate, penetration metrics, or content per access point device or whatever way to think about it, that would be helpful.Jeffrey B. ShealyThanks for your comment, Suji. So we did mention we delivered 2 newly developed WiFi filter samples to a Tier-1 mobile customer during the quarter. But in terms of the some of the market dynamics, I'll let Dave comment on those for WiFi 7.David M. AicheleSo I think a couple of comments there. As Ken mentioned earlier that we're releasing a new family of WiFi 6E, WiFi 7 products that are better than previous generation in response, but also in smaller form factor. So we're making it more attractive, both from a size and also a performance standpoint, particularly for these higher MIMO count architectures.So the dollar content per system is actually increasing in the WiFi 7, both with the enterprise sector that we're seeing and also with the carrier side. And I expect the demand to be as same or if not, higher in system unit sales. So overall, the revenue should be increased for Akoustis in these WiFi 7 platforms.Some examples is that the filter count can go up 50%, almost 100% based on the architectures that we're seeing right now and how they're developing. So they are fairly complex to previous ones. I think you guys are all aware of the WiFi 7 advantages, particularly this high-band selectivity or what they call MLO, multi-link operation is requiring higher performance filters to be able to enable that in the WiFi 7.So this definitely plays in our favor, and we're keeping a lead as best as we can from a performance technology-wise based on the XBAW technology. So we're very bullish about the WiFi 7 market and all the activity is moving in the right direction as far as what we're seeing from customer deployments.Suji DesilvaAnd then my other question is on the auto market. You mentioned it in the prepared remarks. I'm just trying to get a sense of the number of customers you may be engaged with kind of in order of magnitude. Is it handful, is it more than that?And what is the -- are they semis companies, systems companies, module companies Tier-1s, or auto OEMs directly? And what's the timing of revenue ramp opportunity there just to level set expectations for auto?David M. AicheleSuji, I will take the question. Yes, I've been actually out on the road visiting with some of the automotive customers and pretty excited about the opportunity that is presenting to us. It will take several years before you see these platforms rolled out. But we're actually -- so example is the wireless battery management system.We've got 3 components on our reference design with a Tier-1 IC manufacturer. And so we've got good activity going on in Asia. And that is starting to move into Europe and we expect some of that pickup in North America. So we're pretty excited about the opportunities there. And I think we said that we'd be announcing some design wins.And then in the CV2X, we've got better than 5 customers that we've been sampling to and CV2X is starting to pick up activity-wise, including in Asia, the ETC, so toll collection. So those are things that we're looking at closely.And then we've been working with recently some North America OEMs on the automotive side that have more traditional ways of going about building their systems, not using subcontractors, doing it more in-house and we see a lot of activity from discrete components, both from the RFMi on oscillators and SAW filters to our BAW technology for TCUs and other spectrum that we're going after. So there's a lot of activity, and we've got greater than 5 customers that we're selling to into production and obviously, in Tier-1s to smaller companies. But these new opportunities won't really be panning out for another couple of years.OperatorAt this time, I'll hand the call back to Jeff Shealy for closing remarks.Jeffrey B. ShealyI want to take the opportunity to thank everyone for your time today. We look forward to speaking with you on our next update call to discuss the current quarter execution against our milestones and future expectations. And with that, I want to wish everybody a very pleasant day. Thank you for your time.OperatorThis will conclude today's conference. You may disconnect your lines at this time. Thank you for your participation.

Thomson Reuters StreetEvents

Q4 2023 Akoustis Technologies Inc Earnings Call

https://finance.yahoo.com/news/q4-2023-akoustis-technologies-inc-045210249.html

fc6d2d48-3b30-3b01-9a44-3da8f134f779

AKTS

Akoustis Technologies, Inc. (NASDAQ:AKTS) Q4 2023 Earnings Call Transcript September 6, 2023Akoustis Technologies, Inc. beats earnings expectations. Reported EPS is $0.21, expectations were $-0.16.Operator: Good day, ladies and gentlemen, and welcome to the Akoustis Technologies Fiscal 2023 Fourth Quarter Conference Call. As a reminder, this conference call is being recorded. At the conclusion of the company's presentation, Akoustis' management will take questions. [Operator Instructions] A replay of the call will be available on the Investor Relations section of the Akoustis website. I would now like to turn the floor over to Tom Sepenzis.Tom Sepenzis: Thank you, operator, and good morning to everyone on the call. Welcome to Akoustis' fourth quarter fiscal 2023 conference call. We are joined today by our Founder and CEO, Jeff Shealy; CFO, Ken Boller; and EVP of Business Development, Dave Aichele. Before we begin, please note that today's presentation includes forward-looking statements about our business outlook. All statements other than statements of historical facts included in this conference call, such as expectations regarding our strategies and operations, including the timing and prospects of product development and customer orders and design wins, possible collaborative or partnering relationships, litigation matters and expected financial and operating results are forward-looking statements.Liberty Global communication internet wifi cloud LBTYK LBTYA LMCAcherezoff / shutterstock.comSuch forward-looking statements are predictions based on the company's expectations as of today and are subject to numerous risks and uncertainties. The company and our management team assume no obligation to update any forward-looking statements made on today's call. Our SEC filings mention important factors that could cause actual results to differ materially. Please refer to our latest Form 10-K and Form 10-Q filed with the SEC to get a better understanding of those risks and uncertainties. In addition, our presentation today will also refer to certain non-GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measure is presented in our earnings call highlight release available in the Investors section of akoustis.com.Story continuesI would now like to turn the call over to Jeff Shealy, Founder and CEO of Akoustis.Jeff Shealy: Thank you, Tom, and welcome everyone to our fiscal fourth quarter conference call. During the quarter, we were able to deliver our seventh consecutive quarter of record sales, as revenue growth in the June quarter was within our guided range of up 10% to 20% sequentially. This was driven by a 41% sequential growth in filter product revenue with continuing Wi-Fi 6E ramps across the enterprise market, increased activity in service provider and consumer markets, as well as shipments to our tier-1 5G mobile RF component customer for broad sampling of its multiplexer for 5G mobile devices. Additionally, we experienced a rebound in our SAW filter, automotive and timing control business during the June quarter, and expect this business to show further gains moving forward as new products are introduced, which I will describe in greater detail shortly.During the June quarter, we had two customers that made up greater than 10% of our revenue, XBAW related sales accounted for the top five customers and six out of the top 10 customers. Our top 10 customers made up 63% of our revenue. Our top 25 customers made up 77% of revenue. In terms of regional sales, three out of our top 10 customers were Asia based. Finally, our top two customers in Q4 increased their sequential revenue with Akoustis by 18% and 3%, respectively. We are experiencing the same challenging end market environment that has been noted by many of our customers and industry peers over the past several weeks as high component inventory levels, weak consumer electronics demand, particularly in mobile handsets, and a slower return-to-office implementation have negatively impacted segments of the consumer electronics industry.This corresponds with a slower-than-expected rebound in the automotive, 5G mobile devices and network infrastructure, and Wi-Fi markets with focus -- weakness in both consumer and service provider markets. As a result, we expect revenue for the September quarter to be down approximately 15%. Despite these macro challenges, we continue to receive new design wins and introduce new products that we expect will facilitate substantial revenue growth over the next 24 months. I would now like to take a moment to discuss the recent developments involving the CHIPS and Science Act of 2022. Regarding CHIPS Act funding, the domestic manufacturing program is being implemented by the Department of Commerce, or DOC, R&D investments in nanotechnology and the creation of regional high-tech hubs are being driven by the Department of Defense, or DOD.Akoustis' current activity includes proposal activity with both the DOC and DOD related programs for domestic semiconductor manufacturing, R&D, and the commercialization of leading-edge nanotechnologies. As of today, we have submitted one DOD proposal with Akoustis as a lead contractor or hub focused on electronic warfare, or EW, for defense applications. The proposed five-year contract, if awarded, has an initial program budget of over $150 million. We currently expect the DOD to announce their award selections by the end of September. Akoustis is seeking to expand its domestic manufacturing footprint, including both semiconductors and advanced packaging at our New York campus, under the DOC CHIPS for America program. We are currently awaiting feedback on our pre-application from the DOC, and we expect to file a final application by the end of the calendar year and expect a program [Technical Difficulty] in calendar year 2024.We continue to plan our CHIPS application around multiple semiconductor partners which intend to manufacture semiconductor materials, wafers, and/or packaging on our New York manufacturing campus. Next, I would like to discuss several compelling updates in our primary target markets beginning with Wi-Fi. One of our milestones during the June quarter was to deliver two additional Wi-Fi design wins, and we received four new wins, all of which are expected to ramp over the next 12 months. These design wins include high-frequency Wi-Fi 6E and Wi-Fi 7 XBAW filter solutions, as well as 2.4 gigahertz BAW filter solutions. During the June quarter, we began sampling our new 5.6 and 6.6 gigahertz Wi-Fi 6E and Wi-Fi 7 filter solutions to multiple customers.These new parts offer approximately four times size reduction compared to earlier generation parts, and initial feedback has been positive. We have received our first design win for these new filter solutions for a consumer-focused Wi-Fi 6E platform, with a multi-user, multiple-in, multiple-out, or MU-MIMO architecture. We now have multiple catalog in customer Wi-Fi 6E and Wi-Fi 7 XBAW filter solutions that are currently selling in the market. While the overall Wi-Fi market has been impacted over the past 12 months by excess inventory driven by component shortages in 2021 and 2022, and slowing Wi-Fi AP demand post COVID, we do expect improvement in the next six months with normalized inventory levels returning in calendar 2024. With our continuing design win traction, as evidenced by the four new design wins in the June quarter, we expect strong growth in our Wi-Fi business to continue in calendar 2024 and beyond.This will be driven by our expanding portfolio of catalog Wi-Fi products in the spectrum covering 2.4 gigahertz to 7.1 gigahertz combined with our ability to rapidly deliver customized solutions. Looking ahead, in the September quarter, we expect to receive a design win for next-generation Wi-Fi 7 hardware with a consumer-focused OEM. Further, we also expect to receive a design win for a next-generation Wi-Fi 7 solution with a tier-1 U.S.-based carrier. And finally, we plan to secure design wins for our tier-1 enterprise class customers Wi-Fi 7 suite of routers and access points. Next, I would like to discuss our recent developments in the 5G mobile market. We continue to ship our initial 5G mobile filter to our tier-1 customer in the June quarter.The customer has been sampling its multiplexer that uses our filter and has been waiting for its chipset reference design partner to launch its baseband into the China market. During the June quarter, our 5G mobile customer brought a tier-1 smartphone tablet OEM to our Canandaigua, New York fab to perform its own quality audit of our facility and manufacturing process. We successfully passed the audit, including two offshore assembly and test locations, further validating our technology and manufacturing capability. This was our first audit by a tier-1 handset OEM. So, this was a major milestone for our company. We delivered two newly developed Wi-Fi 7 filter samples to our tier-2 mobile customer during the June quarter, and we continue to expect these filters to be qualified and ready for production in the first half of calendar 2024.These two new filters are being developed using our foundry process with the customer creating its own designs using our advance machine learning driven AI product development kit, or PDK. Our customer has decided it would like to make minor changes to the first design, and we expect to begin redesign later this year. Our anticipated milestones for the September quarter include: we expect to receive an order for a 2.4 gigahertz Wi-Fi filter for our tier-2 5G mobile RF front end module making customer. I will now discuss our progress in our network infrastructure business. During the June quarter, we continued XBAW filter shipments to our CBRS customers targeting the U.S. market. We are seeing the 5G open radio access network, or ORAN, market flow along with the broader RAN market as operators take inventory of existing developments.We do expect the small cell market to improve in calendar 2024, as carriers throughout the U.S., Europe, the Middle East and Africa begin to deploy sub-5 gigahertz networks due to increased data demands. We expect carriers to deploy small cells in greater numbers in 5G networks to expand capacity and improve service. We had several major developments in our network infrastructure business during the June quarter. First, we successfully delivered samples of 7 gigahertz XBAW filters to a tier-1 European 5G network infrastructure OEM. We were also awarded a development order for a new high-band massive MIMO filter design from the same tier-1 OEM aimed at the new 7 gigahertz spectrum for 5G base station applications. For the September quarter, we expect to secure a fourth design win in 5G from a new massive MIMO customer.Furthermore, we are currently working to engineer new improved samples of our 5G Band 41 and 5G U.S. 3.8 gigahertz network infrastructure filter solutions. We expect to finalize the design and provide samples in the December quarter. And now finally, I would like to provide an update on our defense and other businesses. During the June quarter, we achieved several milestones in our defense and other markets segment. We successfully broadened the sampling of our new automotive CV2X XBAW filter solution to multiple customers, while we have been involved in the automotive market delivering RFMI, SAW filter and crystal components. The introduction of our new XBAW solution for CV2X should significantly expand our potential TAM for the automotive market.Our new CV2X filter operates between 5.855 and 5.925 gigahertz and allows for device-to-device and device-to-network connections for multiple applications aimed at providing safe and effective communication within vehicles. Our new patented filter delivers low loss performance and enables high power handling capabilities that established long range connectivity for CV2X applications. We also successfully delivered the second of two resonators for the timing control market after our customers asked for wider bandwidth performance earlier in the year. We are now working on qualifying this resonator, and our customer is finalizing the development of its low jitter oscillator product that is aimed at multiple end markets. During the quarter, we were also able to secure a development order for a new millimeter wave XBAW filter for a tier-1 defense customer.Our biggest success in the defense and other market segment was the introduction of our new XP3F technology which incorporates a new revolutionary multi-layer nanomaterial that incorporates our patented single-crystal piezoelectric material. This new nanomaterial was developed with funding from the Defense Advanced Research Projects Agency, or DARPA, to scale the XBAW technology to frequencies up to 18 gigahertz. The new piezoelectric material stack in the accompanying manufacturing process enables high-Q micro-acoustic [wide bandwidth] (ph) filter solutions that will provide improved coexistence compared to competing high frequency LTCC, IPD, and PCB solutions. We believe the XP3F technology could present Akoustis with significant opportunities in X-Band radar satcom Ku-Band and upcoming 5G/6G FR3 spectrum, and we are receiving significant customer interest in both defense and commercial markets.For the September quarter, in the defense and other market segments, we are expecting to secure a design win of at least one of the following: crystal oscillator, BAW filter, and/or SAW filter used in automotive wireless battery management systems, or WBMS, solutions, used it in a tier-1 IC reference design, and we also expect to complete the qualification of the second XBAW resonator for a timing control customer. And now, I would like to hand the call over to Ken to go through our financial highlights.Ken Boller: Thank you, Jeff. For the fourth quarter ended June 30, 2023, the company reported revenue of $8.3 million, which is an increase of more than 13% over the prior quarter ended March 31, 2023 and represents an increase of 60% year-over-year. On a GAAP basis, operating loss was $17.9 million for the June quarter, driven by revenue of $8.3 million, offset by labor costs of $8.6 million, depreciation and amortization of $3.3 million and other operational costs totaling $14.3 million. As a result, GAAP net loss per share was $0.25. On a non-GAAP basis, operating loss was $15 million and non GAAP net loss per share was $15.2 million. Reconciliation of these amounts to the corresponding GAAP measures is available in the press release issued this morning available on the Investors section of our corporate website.CapEx spending for Q4 was $1.2 million, a decline from $2.1 million in the prior quarter as we placed in the service the last of our ordered equipment of the company's New York fab expansion. Cash used in operating activities was $8.7 million, which represents the second quarter in a row of double-digit improvement as operating cash spending is down another 12% from $9.9 million in the prior quarter. The company exited the June quarter with $43.1 million of cash and cash equivalents versus $52.7 million at the end of the previous quarter. In the September quarter, we expect revenue to be down approximately 15% given the broader market weakness along with associated inventory correction. Despite these challenges, we continue to receive design wins and introduce new products that we expect will help us grow our revenue substantially moving forward.I will now turn the call back over to Jeff for his closing comments.Jeff Shealy: Thank you, Ken. Before I wrap up the call, I would like provide a brief update on pending litigation matters. With respect to the lawsuit Qorvo filed against Akoustis in Delaware in 2021, work on the case continues. The company continues to develop its defenses and mitigation strategies and intends to proceed in defending itself vigorously against claims asserted by Qorvo. Turning to the patent infringement case filed by Akoustis against Qorvo, in the Eastern District of Texas, Qorvo has filed a motion to dismiss the case as well as a motion to strike Akoustis' infringement contingents. These motions are typical tactics used by defendants at this early stage of litigation. For example, in its motion to strike, Qorvo argues that Akoustis should be required to provide individual claim charts for each of the 1,015 Qorvo products accused of infringement in the case.One key takeaway from these updates is the complexity and evolving nature of Akoustis' disputes with Qorvo. Although we can provide no assurance as to the outcome of the disputes with Qorvo, Akoustis remains focused on advancing the interests of the company and its shareholders in both cases to obtain the best possible outcome. And now, I would like to finish by stating that notwithstanding a persistent challenging macro environment for the broader semiconductor industry, we are positioned to continue to deliver top-line revenue and unit growth over the next 24 months and beyond, driven by 5G mobile, Wi-Fi, automotive, defense and other markets. During the June quarter, we sampled new products, including our 5.6 gigahertz and 6.6 gigahertz Wi-Fi 6E and 7 filters, as well as our new CV2X filter and introduced a new resonator for the timing control market.We successfully passed a major milestone with a successful audit at our New York fab facility from one of the largest handset and tablet manufacturers in the world along with our OSAT provider. In conclusion, we believe the market opportunity for our patented high-frequency XBAW and XP3F filters is substantial. As of August 25, 2023, we have 104 issued patents and 108 patents pending as we continue to build a substantial IP moat around our technology. We continue to work diligently to achieve each of our stated objectives, and we will continue to provide updates on our execution against these objectives going forward. Finally, I would like to once again thank our employees for their hard work, passion, and dedication, which account for [multiple] (ph) wins across the Wi-Fi, 5G networker infrastructure, automotive, and defense markets.We have also experienced exceptional momentum in the 5G mobile market, driven by our industry leading XBAW filters that operate above 3 gigahertz, and our new and expanding wafer level packing capabilities. I also wish to thank our shareholders who continue to support the company. And with that, I would like to open the call for questions from the investment community. Operator, please go ahead with the first question.See also Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets and 11 Best Zinc Stocks to Buy in 2023.Q&A SessionOperator: Thank you. [Operator Instructions] Our first question today is from the line of Anthony Stoss with Craig-Hallum. Please proceed with your questions.Anthony Stoss: Hi, Jeff. Congrats, I guess, on all the activity surrounding in the progress. Three questions I wanted to hear from you today. On the Wi-Fi 7 side, just can you paint a picture when you expect kind of volume revenues? Similar question on the smartphone tablet customer that just passed your audit of your facility. And then I have a follow-up.Jeff Shealy: Tony, good morning to you. So, as we said, we've seen despite the Wi-Fi slowdown that we're seeing in the carrier and enterprise, we've seen a significant pickup in the Wi-Fi 7 activity, which is a real bright spot. So, in terms of the specific customer activity, let me let Dave kind of articulate what's going on there and also kind of what -- while we got him what he sees in the mobile space.Dave Aichele: So, good morning, Tony. On the Wi-Fi 7, where I see the activity of that picking up is Q2 of next year. We've got engagements, both in the carrier sector and also in the enterprise sector. Active designs that are starting development runs, and then, we'll start working through qualifications later this year. So, I expect Wi-Fi 7, both of those sectors to pick starting Q2 of next year. There's other activity as well with other customers that may entrail quarter after that. And these are two of our top-tier customers that we deal with right now. On the smartphone tablet, as we highlighted, successful major milestone of passing the audit. And we've had multiple tier-1 audits from other market segments. This is the first one we had in the smartphone side.So, huge accomplishment on the Akoustis side and also with our OSAT provider. So that one, it's an engagement that we're going to track and watch. We'll be able to give better guidance in later quarters as we see obviously traction with this customer.Jeff Shealy: And Tony, let me add to that. On the mobile front, that's an area where that's -- in the other segments, we actually engage directly with the OEM. This one is one where we engage with a third party. So, as we previously stated that our part goes into a more complex module, which then has to be -- is sold into a reference design, which we previously stated that, that's targeting the China market. That China market has limited visibility and also some pretty significant headwinds in it, as outlined by others in the space.Anthony Stoss: Got it. And then, lastly, probably a bigger question. Gross margins remain negative even while revenues have grown. Can you give us a sense of where you expect gross margins to pass over into being positive? What kind of metrics need to get them above 30%? And maybe if you can update us on when you now expect kind of cash flow breakeven on a quarterly basis?Jeff Shealy: Good opportunity to bring Ken in. So, Ken, why don't you start.Ken Boller: Good morning, Tony.Anthony Stoss: Good morning.Ken Boller: For gross margins, we are undertaking a number of initiatives to improve our margins to [switch over] (ph), as you said, to positive. Those are predominantly increasing utilization of our New York fab being one of them as well as decreasing a lot of our back-end costs. Our initial products were larger sizes, mostly 3.5 by 3.5. Our laminate sizes are coming down in size, which dramatically reduces the cost, as well as some cost savings with our providers, the OSATs. And our new products are also much smaller size and much lesser back-end costs associated with those products as they come online. So we expect, as we improve our laminate reductions and other measures and bring on new projects that those margins will come down and you'll start to see them become positive in the next few quarters.And then, as you mentioned, operating cash flow breakeven, we expect that to occur in the October of 2024 quarter, still with the same guidance as before when we get to about $15 million to $18 million of revenue per quarter. But also of note, I will say that we've seen operating cash flow decline, 12% each quarter for the last two quarters. And we've undertaken a number of prudent but necessary cost saving initiatives recently, which include expense controls and aligning our resources to our current customer -- to our current business model. So, I expect that operating cash flow to continue to decline and we're taking measures to make sure that happens. And then margins will improve as we see new products come online.Jeff Shealy: And Tony, this is Jeff. Just to add to that, I think Ken has previously stated and just to kind of complete the picture, as we transition those gross margins with these cost savings plans, we expect that the time of cash flow breakeven, the gross margins will be in the -- roughly the 30% range is what we're projecting and how we're modeling it.Anthony Stoss: Very good, guys. Thank you.Jeff Shealy: Thank you, Tony.Operator: Our next question is from the line of Craig Ellis with B. Riley Securities.Craig Ellis: Yeah, thanks for taking the question, and Jeff and Ken, congratulations on all the customer progress in the most recent quarter. I wanted to follow-up on the color for September revenues down 15% quarter-on-quarter. Can you talk a little bit about the gives and takes by the different product groups for the September quarter? And then, Jeff, can you talk about your confidence that the September quarter would be the bottom in quarterly revenues or the potential for there to be a further decrease out in the fiscal second quarter timeframe ending in December?Jeff Shealy: Craig, good morning. Thank you for the comments. So, let me just outline, just provide some contrast over what we're seeing relative to Q4. So, we expect the September quarter, or Q1, to experience the following. We're seeing some slowdown in mobile and [indiscernible] I mentioned, particularly the carrier and enterprise class offset by the Wi-Fi 7 activity pickup. So, we see that softness in the Wi-Fi for a period of one to two quarters. We are seeing and experiencing a seasonal slowdown in some of the foundry services. We have -- as some of -- as part of our foundry services, we also connect in some of the R&D government contracts that we have. We're right in the middle of transitioning from a first or a phase 1 program to a phase 2 program.So, we're certainly seeing that hit in the September quarter as we make that transition. I will point to that DARPA program that I'm referring to, we were extremely successful. And I think, out of the seven participants, we hit every milestone the customer put in front of us, related to that P3F technology we were developing. So, we're very bullish on that approach going forward. And then, finally, also in the Q1 September quarter, we see some lead time and supply chain constraints, particularly in one of our particular Asia OSATs. So those are -- that's really kind of the puts and takes, but that's really the macro environment that we're navigating now. In terms of confidence to your second question -- in terms of the confidence that September will be a bottom, what we're projecting is one to two quarters.We're seeing, I think, we mentioned in the script, particularly in Wi-Fi, there has been some inventory buildup in the channel, which needs to clear. and we're projecting one to two quarters. So, I think internally if you look how we model it is, I would say, we're going to see some softness, certainly in the December quarter that's probably comparable to what we're seeing in the September quarter. But then, March quarter begin picking back up with the programs that we're currently delivering products to. There's several in the Wi-Fi space, and we see those picking up, and see some nice design wins already coming together for those quarters. So, I think I've addressed your question. Any follow-up, please go ahead.Craig Ellis: Yeah, thanks for that, and appreciate all the color, Jeff. The follow-up question may be for Dave, and it's digging into mobile and the potential for some of the successful activity with different customers to move into a production ramp. And I'll just use the China market as an example. So, if we look out at key China selling seasons where the leading players would be developing new product. We've got Golden Week early October, Singles' Day November, Lunar New Year in January-February timeframe, and then May Day further out in mid-2Q. As you're engaging with your module partners and other players, when does it look like it would be reasonable for investors to expect more of a volume production ramp if we take those selling seasons as a proxy? Thanks, Dave.Dave Aichele: Yeah, thanks for your question, Craig. I think the -- and Jeff touched on this, our component customer that we've engaged with, we made some shipments last quarter. And it's into a multiplexer that's going into the China market on a reference design. So, we've seen limited activity right now. I think everybody is aware obviously the depression state that the China mobile market is in. So, we do not have direct finger on the pulse to the OEMs there. It's something that we have to go through our customer, obviously, to get those visibilities. And so, we're getting updates quarterly on the take rate and traction. So, we'll watch that closely. It's hard to really give any strong guidance until we start seeing some positive trends in that mobile market in China.The other part is the other engagements we have with the RF front-end module guys is mainly focused on -- I think we've guided in the past, focusing on later year models. And that is one that we've been validating the technology. We've shipped -- as we've said in previous quarterly calls that we've shipped solutions that have been validated by them, and it's really navigating a strategy of implementing our technology into those modules. So that's still underway. So, the guidance right now has been the outer years when we would see that take rate. Obviously, as we have better visibility to the platforms of the integrated, we can provide more concrete updates.Jeff Shealy: And, Craig, let me just add to that, from the mobile segment. I just want emphasize -- reemphasize the quality audit we passed. We actually -- we did continue making shipments to that customer during the June quarter. And also would add our WLP was part of the supply chain. That's the packaging -- critical packaging for that, that was part of the audit that we passed. And so, we're prepared to ship the pieces from our end. There's been no delay on our end. And that supply chain is working really well. So I just want to emphasize how we're positioned at least to service that market as we've already demonstrated with shipments the last two quarters.Craig Ellis: Yes. So, certainly, it seems like you're executing well on the things that you can control, and it's been very well publicized that the Android market is unusually weak, especially in China. If I could sneak a last one in, Jeff. Nice update on your specific plans with both the CHIPS Act and DOD and you mentioned some milestones. Are there any intermediate update points that investors could look to, as it relates to potential funding for either source? Thanks for taking all the questions, guys.Jeff Shealy: Yeah. Thank you, Craig. So, if you look historically, when -- from the time that we've been notified of an award decision that's -- we have to negotiate a contract and the company's position is until we're under contract, we don't make -- we don't make any public announcements because those have to be negotiated and some of the terms of those have to be worked through. So, I think we certainly will have an update. We'll provide another update. This being the year end for us, it's kind of a short cycle until we're back on with investors after the September quarter. So, certainly would think in the early October when we report again that -- excuse me, in the early November timeframe when we report again, I will have -- we'll have an update. And I would not anticipate we'd be under contract before then.Craig Ellis: Thank you, Jeff. Thanks, Dave. Thanks, Ken.Jeff Shealy: Thank you.Dave Aichele: Thanks.Operator: Our next question is from the line of Suji Desilva with ROTH MKM. Please proceed with your question.Suji Desilva: Hi, Jeff. Hi, Dave, Ken. Congrats on the progress here. So, can you give us a sense the Wi-Fi 7 ramp that's coming? Maybe how to size that opportunity to think about it relative to prior Wi-Fi ramps, perhaps attach rate, penetration metrics, or content per access point device or whatever way to think about it, that would be helpful. Thanks.Jeff Shealy: Well, let me -- thanks for your comment, Suji, and good morning to you. So, we did mention we delivered two newly developed Wi-Fi filter samples to a tier-1 mobile customer during the quarter. But in terms of the some of the market dynamics, I'll let Dave comment on those for Wi-Fi 7.Dave Aichele: Yes. Good morning, Suji. So I think a couple of comments there is, as Ken mentioned earlier that we're releasing a new family of Wi-Fi 6E, Wi-Fi 7 products that are better than previous generation in response but also smaller and form factor. So, making it more attractive, both from a size and also performance standpoint, particularly for these higher MIMO [count] (ph) architectures. So, the dollar content per system is actually increasing in the Wi-Fi 7, both with the enterprise sector that we're seeing and also with the carrier side. And I expect the demand to be as same or if not higher in system unit sales. So, overall, the revenue should be increased for Akoustis in these Wi-Fi 7 platforms. Some examples is that the filter count can go up 50%, almost 100% based on the architectures that we're seeing right now and how they're developing.So, they are fairly complex to previous ones. I think you guys are all aware of the Wi-Fi 7 advantages, particularly this high-band selectivity or what they call MO, multi-link operation, is requiring high performance filters to be able to enable that in the Wi-Fi 7. So this definitely plays in our favor. And we're keeping a lead as best as we can from a performance technology-wise based on the XBAW technology. So, very bullish about the Wi-Fi 7 market and all the activity is moving in the right direction as far as what we're seeing from customer deployments.Suji Desilva: All right. Thanks, Dave, for the color. And then my other question is on the auto market. You mentioned it in the prepared remarks. Just trying to get a sense of the number of customers you may be engaged with kind of order of magnitude, is it a handful? Is it more than that? And what is the -- are they semi companies, systems companies, module companies, tier-1s or auto OEMs directly? And what's the timing of revenue ramp opportunity there just to level set expectations we are on?Dave Aichele: Suji, I'll take the question. So, I've been actually on the road visiting with some of the automotive customers and I'm pretty excited about the opportunity that it is presenting to us. It will take several years before you see these platforms rolled out. But we're actually -- so example is the wireless battery management system. We've got three components on reference design with a tier-1 IC manufacturer. And so, we've got good activity going on in Asia, and that is starting to move into Europe and expect some of that pickup in North America. So, we're pretty excited about the opportunities there. And I think we said that we'd be announcing some design wins. And then, the CV2X, we've got greater than five customers that we've been sampling to and CV2X is starting to pick up activity wise, including in Asia, [DTC] (ph), so toll collection.So, those are things that we're looking at closely. And then, we've been working with recently some North America OEMs on the automotive side that are more traditional ways of going about building their systems, not using subcontractors, doing it more in-house and see a lot of activity from discrete components, both from the [indiscernible] on oscillators and SAW filters to our BAW technology for TCUs and other spectrum that we're going after. So there's a lot of activity and we've got greater than five customers that we're selling to into production and obviously -- and tier-1s to smaller companies. But these new opportunities won't really be panning out for another couple of years.Suji Desilva: All right. Thanks for the color, Dave. Thanks, team.Dave Aichele: Yeah.Jeff Shealy: Thanks, Suji.Operator: Thank you. At this time, I'll hand the call back to Jeff Shealy for closing remarks.Jeff Shealy: I want to take the opportunity to thank everyone for your time today. We look forward to speaking with you on our next update call to discuss our current quarter execution against our milestones and future expectations. And with that, I want to wish everybody a very pleasant day. Thank you for your time.Operator: This will conclude today's conference. You may disconnect your lines at this time. Thank you for your participation.

Insider Monkey

Akoustis Technologies, Inc. (NASDAQ:AKTS) Q4 2023 Earnings Call Transcript

https://finance.yahoo.com/news/akoustis-technologies-inc-nasdaq-akts-122521848.html

b0120762-0f80-3813-8b60-9379e3ec4825

ALB

For value-focused investors, stocks priced below their intrinsic value often present enticing opportunities. One such stock that has caught the eye of many is Albemarle Corp (NYSE:ALB). Currently priced at $191.72, the stock recorded a day's loss of 4.52% and a 3-month decrease of 9.42%. According to its GF Value, the fair valuation of the stock stands at $486.69.Understanding GF ValueWarning! GuruFocus has detected 3 Warning Signs with ALB. Click here to check it out. ALB 30-Year Financial DataThe intrinsic value of ALBThe GF Value represents the intrinsic value of a stock, calculated based on historical multiples, GuruFocus adjustment factor, and future estimates of business performance. The GF Value Line provides an overview of the fair value at which the stock should ideally be traded. If the stock price significantly deviates from the GF Value Line, it can indicate overvaluation or undervaluation, affecting future returns.Is Albemarle (ALB) Too Good to Be True? A Comprehensive Analysis of a Potential Value TrapHowever, a deeper analysis is required before making an investment decision. Despite its seemingly attractive valuation, Albemarle (NYSE:ALB) carries certain risk factors. These risks are primarily reflected through its low Beneish M-Score of -1.47, exceeding the -1.78 threshold for potential earnings manipulation. These indicators suggest that Albemarle, despite appearing undervalued, might be a potential value trap.Scrutinizing Beneish M-ScoreThe Beneish M-Score, developed by Professor Messod Beneish, is based on eight financial variables reflecting different aspects of a company's financial performance and position. These variables include Days Sales Outstanding (DSO), Gross Margin (GM), Total Long-term Assets Less Property, Plant and Equipment over Total Assets (TATA), and changes in Revenue, Depreciation and Amortization, Selling, General and Admin expenses, Debt-to-Asset Ratio, and Net Income Less Non-Operating Income and Cash Flow from Operations over Total Assets.Company OverviewAlbemarle is the world's largest lithium producer, with robust demand for electric vehicle batteries driving its outlook. The company produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants, and a major producer of oil refining catalysts.Story continuesIs Albemarle (ALB) Too Good to Be True? A Comprehensive Analysis of a Potential Value TrapAnalyzing Albemarle's Gross MarginThe Gross Margin index tracks the evolution of a company's gross profit as a proportion of its revenue. A downward trend in gross margin could indicate issues such as overproduction or more generous credit terms, both of which are potential red flags for earnings manipulation. Over the past three years, Albemarle's Gross Margin has contracted by 6.86%, which could negatively impact the company's profitability and financial stability.Is Albemarle (ALB) Too Good to Be True? A Comprehensive Analysis of a Potential Value TrapAssessing SG&A ExpensesThe change in Selling, General, and Administrative (SG&A) expenses provides insight into a company's operational costs. Over the past three years, Albemarle's SG&A expenses have decreased, which, while potentially a sign of improved efficiency, could also indicate cost-cutting measures taken to artificially inflate earnings. Thus, a decrease in SG&A must be carefully evaluated within the broader context of the company's strategy, industry norms, and competitive landscape.Understanding TATA RatioThe TATA (Total Accruals to Total Assets) ratio is a key indicator of the quality of a company's earnings. Albemarle's current TATA ratio stands at 0.056. A positive TATA ratio can be a warning sign, suggesting that the earnings are composed more of accruals rather than cash flow, which could be an indication of aggressive income recognition.Conclusion: Is Albemarle a Value Trap?Considering these factors, Albemarle (NYSE:ALB) may present a potential value trap for investors. Despite its attractive valuation, the company's low Beneish M-Score, contracting Gross Margin, and decreasing SG&A expenses raise concerns. Therefore, investors are advised to conduct thorough due diligence before making any investment decision.To find high-quality companies that may deliver above-average returns, check out the GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Is Albemarle (ALB) Too Good to Be True? A Comprehensive Analysis of a Potential Value Trap

https://finance.yahoo.com/news/albemarle-alb-too-good-true-163229299.html

aab6ff76-336e-3148-9341-5eff45d8997d

ALB

In this article, we discuss 10 best lithium ETFs. If you want to skip our detailed discussion on the lithium industry, head directly to 5 Best Lithium ETFs. In 2022, China witnessed a 70% rise in vehicle battery demand, accompanied by an impressive 80% surge in electric car sales compared to 2021. However, this increased battery demand was slightly tempered by the growing presence of plug-in hybrid electric vehicles (PHEVs). The United States, on the other hand, experienced an approximate 80% growth in battery demand for vehicles, despite electric car sales increasing by only about 55% in 2022. This surge in battery demand contributes to the increased need for essential materials, as reported by the International Energy Agency. During 2022, the demand for lithium exceeded its supply, a trend that continued from 2021. Interestingly, even with a 180% production increase since 2017, there remained a gap. In 2022, roughly 60% of lithium demand, 30% of cobalt demand, and 10% of nickel demand were attributed to electric vehicle batteries. As observed with lithium, the mining and processing of these essential minerals must escalate to aid the energy transition. This acceleration is required not just for electric vehicles, but also to match the growing demand for clean energy technologies in general. Lithium iron phosphate battery technology has become increasingly popular over the last decade. Nearly 95% of LFP batteries for electric light-duty vehicles were used in vehicles made in China, with BYD accounting for half of this demand. Tesla, Inc. (NASDAQ:TSLA), on the other hand, made up 15% of this market. Tesla, Inc. (NASDAQ:TSLA)’s use of LFP batteries grew from 20% in 2021 to 30% in 2022.Read Also: 11 Cheap Lithium Stocks To BuyElectric vehicle manufacturers are optimistic about the anticipated surge in lithium supply, which could ease the strain on their expansion strategies following a two-year period of scarcity. The unexpectedly high demand for lithium, fueled by booming global electric vehicle sales, has led to a doubling of consumption in just the last two years. Suppliers have struggled to match this pace, resulting in a steep price surge. In fact, the combined spot value of lithium consumption surged to around $35 billion in 2022, a significant jump from the $3 billion recorded in 2020, as per Bloomberg. Story continuesAccording to Reuters, the turning point for lithium prices occurred towards the end of 2022. This change was triggered by a slowdown in electric vehicle demand within China, in anticipation of Beijing's planned reduction in subsidies for the substantial $87 billion electric vehicle industry – the largest and fastest-growing globally. While concerns about demand have stirred market uncertainties, experts suggested in the first quarter of 2023 that the expected increase in supply from China, Australia, and Chile would play a key role in restoring more balanced prices.Don't Miss: Lithium Reserves by CountryA CNBC report in the first quarter suggested that 2023 might see a surplus of lithium. This is due to the anticipation that higher supply volumes will outpace the declining demand for the metal. Matty Zhao, Head of Asia Pacific Basic Materials at Bank of America Securities, shared this insight. She commented:“We see a lot of supply coming out from lithium mines ... We are expecting 38% lithium supply growth this year. That’s why 2023 is likely to turn into a surplus year for lithium.”Zhao also indicated an expectation for a slowdown in China's electric vehicle demand growth, moving from 95% last year to 22% this year. This is significant as lithium is a key component in electric vehicle batteries, contributing to a rapidly evolving and increasingly competitive industry. In May of the previous year, The Goldman Sachs Group, Inc. (NYSE:GS) predicted that the supply of lithium would experience an average annual growth of 33% from 2022 to 2025.According to Fortune Business Insights, the global lithium market was valued at $37.8 billion in 2022. Projections indicate that the lithium market will grow to $89.9 billion in 2030 at a CAGR of 22.1% from 2023 to 2030. The rising popularity of hybrid and electric vehicles, alongside the demand for energy-intensive portable electronics and storage systems, has greatly fueled the market's expansion. The increasing awareness regarding electric vehicles is linked to growing concerns about environmental pollution, as these vehicles contribute to reducing carbon emissions. Electric vehicles are highlighted as an environmentally friendly choice, emitting fewer greenhouse gasses than regular vehicles throughout their lifespan. Tesla, Inc. (NASDAQ:TSLA) is working on advanced EV batteries, particularly focusing on lithium iron phosphate batteries. This move is aimed at reducing vehicle costs, increasing the vehicle's range to over 400 miles, and potentially extending battery lifespan to 1 million miles. The Asia Pacific region is expected to have the biggest share in the lithium market, largely due to its extensive use across various sectors like power, consumer electronics, chemicals, industry, manufacturing, and more. Moreover, the presence of numerous companies producing lithium and its derivatives in countries like India, Taiwan, Japan, South Korea, and China is driving up the demand for these products.This article discusses some of the best performing lithium ETFs that provide investors with access to stocks like Albemarle Corporation (NYSE:ALB), Rivian Automotive, Inc. (NASDAQ:RIVN), and First Solar, Inc. (NASDAQ:FSLR).Our MethodologyWe used an ETF screener and filtered out the best performing lithium ETFs based on their 5-year performance. We have also discussed the top holdings of the ETFs to offer better insight to potential investors. These ETFs have amassed significant gains in the past 5 years. The list is ranked in ascending order of the 5-Year performance of these lithium ETFs as of September 4, 2023.10 Best Lithium ETFsPhoto by Kumpan Electric on UnsplashBest Lithium ETFs10. WisdomTree Battery Value Chain and Innovation Fund (BATS:WBAT)5-Year Performance as of September 4: -18.89%1-Month Performance as of July 31: 5.06%The WisdomTree Battery Value Chain and Innovation Fund (BATS:WBAT) seeks to replicate the price and yield performance of the WisdomTree Battery Value Chain and Innovation Index. This index is designed to monitor the progress of companies primarily engaged in battery and energy storage solutions, provided they meet the Index's eligibility criteria. The fund was introduced on February 17, 2022. As of September 1, 2023, the fund's assets reached $4.8 million, along with an expense ratio of 0.45%. It holds a portfolio of 140 stocks. As of July 31, 2023, the underlying benchmark's 1-month returns stood at 5.05%, while WisdomTree Battery Value Chain and Innovation Fund (BATS:WBAT) returned 5.06% over the same period. Similarly, year-to-date through July 2023, the WisdomTree Battery Value Chain and Innovation Index returned 14.10%, and the ETF closely followed its benchmark at 13.87%. This makes WisdomTree Battery Value Chain and Innovation Fund (BATS:WBAT) one of the top lithium ETFs to consider. Joby Aviation, Inc. (NYSE:JOBY) is the largest holding of the WisdomTree Battery Value Chain and Innovation Fund (BATS:WBAT). Joby Aviation, Inc. (NYSE:JOBY) is a company fully engaged in air mobility, from creation to operation. They are focused on crafting electric vertical takeoff and landing aircrafts tailored for offering air transportation as a service. The goal is to develop an aerial ridesharing service and an app-based platform for easy ride booking.According to Insider Monkey’s second quarter database, 16 hedge funds were bullish on Joby Aviation, Inc. (NYSE:JOBY), compared to 15 funds in the prior quarter. Like Albemarle Corporation (NYSE:ALB), Rivian Automotive, Inc. (NASDAQ:RIVN), and First Solar, Inc. (NASDAQ:FSLR), Joby Aviation, Inc. (NYSE:JOBY) is one of the top stocks on the radar of smart investors.9. Amplify Lithium & Battery Technology ETF (NYSE:BATT)5-Year Performance as of September 4: -13.89%YTD Performance as of September 4: 2.59%Amplify Lithium & Battery Technology ETF (NYSE:BATT), categorized as one of the best lithium ETFs, represents a collection of companies that derive substantial revenue from various aspects of lithium battery technology. This includes battery storage solutions, battery metals and materials, and electric vehicles. The aim of Amplify Lithium & Battery Technology ETF (NYSE:BATT) is to achieve investment outcomes that align with the EQM Lithium & Battery Technology Index. The ETF was introduced on June 6, 2018. As of September 1, 2023, the fund holds net assets valued at $140.6 million and maintains an expense ratio of 0.59%. Its investment portfolio comprises 111 stocks. Amplify Lithium & Battery Technology ETF (NYSE:BATT) made it to our list of the best lithium ETFs since it tracks the performance of its underlying index closely. Year-to-date as of August 31, 2023, the ETF's returns came in at 4.74%, while the underlying index returned 4.88%. BHP Group Limited (NYSE:BHP) is one of the top holdings of Amplify Lithium & Battery Technology ETF (NYSE:BATT). It functions as a resource company with operations spread worldwide. The company's activities are divided into three segments – Copper, Iron Ore, and Coal. It is involved in the extraction of various valuable elements like copper, silver, zinc, lithium, molybdenum, uranium, gold, iron ore, as well as metallurgical and energy coal.According to Insider Monkey’s second quarter database, 23 hedge funds were bullish on BHP Group Limited (NYSE:BHP), compared to 24 funds in the previous quarter. Ken Griffin’s Citadel Investment Group is the largest position holder in the company, with 1.8 million shares worth $105.9 million.Here is what Harding Loevner has to say about BHP Group Limited (NYSE:BHP) in its Q1 2021 investor letter:“Our purchase of Australian mining company BHP is an example of a quality company at a moderate valuation that should deliver attractive long-term returns. We believe the market has undervalued its enduring competitive advantage due to its low cost iron and copper mining operations which has allowed the company to deliver consistent profits and cash flows across the inevitable ups and downs of the global metals cycle. While the variability of commodity prices prevents BHP from scoring in the top ranks of measured quality, we are willing to bear some of that uncertainty in return for a more attractive valuation given the company’s strong business fundamentals.”8. VanEck Rare Earth/Strategic Metals ETF (NYSE:REMX)5-Year Performance as of September 4: 26.82%Next on our list of the best lithium ETFs is the VanEck Rare Earth/Strategic Metals ETF (NYSE:REMX), which aims to closely match the price and yield performance of the MVIS Global Rare Earth/Strategic Metals Index. This index is designed to reflect how companies involved in producing, refining, and recycling rare earth and strategic metals and minerals are doing overall. The ETF launched on October 27, 2010. As of September 1, 2023, the fund holds net assets totaling $526.03 million, featuring an expense ratio of 0.54%. Currently, the ETF's portfolio includes 34 stocks.Livent Corporation (NYSE:LTHM) is one of the largest holdings of the VanEck Rare Earth/Strategic Metals ETF (NYSE:REMX). Livent Corporation (NYSE:LTHM) produces and markets high-performance lithium compounds used in lithium-based batteries, specialized polymers, and chemical synthesis applications across North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific region.According to Insider Monkey’s second quarter database, 31 hedge funds were bullish on Livent Corporation (NYSE:LTHM), in contrast to the preceding quarter when 32 funds had invested in the stock. Ken Griffin’s Citadel Investment Group held a significant position in the company, with 2.2 million shares valued at $59.7 million.Carillon Eagle Small Cap Growth Fund made the following comment about Livent Corporation (NYSE:LTHM) in its Q4 2022 investor letter:“Livent Corporation (NYSE:LTHM) is a pure-play, fully integrated producer of performance lithium compounds. The stock underperformed amid investor concerns about how a potential decelerating rate of growth in overall electric vehicle (EV) production and demand, primarily in China, would affect the future price of lithium. Despite these potential near-term headwinds, longer-term the global lithium market remains tight, and we believe Livent plays a critical role in the battery value chain and remains well- positioned for the overall continued global adoption of EVs.”7. Horizons Global Lithium Producers Index ETF (TSE:HLIT)5-Year Performance as of September 4: 28.87%Horizons Global Lithium Producers Index ETF (TSE:HLIT) aims to mirror, as much as possible and after accounting for costs, the results of the Solactive Global Lithium Producers Index. The index aims to capture the performance of worldwide publicly traded companies involved in mining and/or producing lithium, lithium compounds, and related components. The ETF was launched on June 22, 2021. As of September 1, 2023, the fund’s net assets totaled C$29 million, and its portfolio encompasses 30 stocks. The ETF features an expense ratio of 0.85%. Horizons Global Lithium Producers Index ETF (TSE:HLIT) is one of the best lithium ETFs to watch. Sigma Lithium Corporation (NASDAQ:SGML) is one of the top holdings of Horizons Global Lithium Producers Index ETF (TSE:HLIT). Sigma Lithium Corporation (NASDAQ:SGML) is involved in exploring and developing lithium deposits in Brazil. These properties include multiple mineral rights, spread across around 185 square kilometers in the Araçuaí and Itinga regions of Minas Gerais, Brazil. Sigma Lithium Corporation (NASDAQ:SGML) serves the global electric vehicle industries.According to Insider Monkey’s second quarter database, 12 hedge funds were bullish on Sigma Lithium Corporation (NASDAQ:SGML), compared to 14 funds in the previous quarter. Israel Englander’s Millennium Management held the largest position in the company, with 496,165 shares worth $19.99 million.6. ARK Autonomous Technology & Robotics ETF (BATS:ARKQ)5-Year Performance as of September 4: 55.07%ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) is an ETF that is actively managed with the goal of achieving steady capital growth, while closely matching the performance of the S&P 500 Index and the MSCI World Index. It does this by investing in both local and global equity securities of companies working in autonomous technology and robotics. These companies are carefully chosen to align with the fund's main focus on disruptive innovation. The companies under ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) are ones that are geared towards benefiting from creating new products or services, improving technology, and making strides in scientific research, especially in fields like energy, automation and manufacturing, materials, artificial intelligence, and transportation. The ETF was launched on September 30, 2014. As of July 31, 2023, the fund holds assets worth around $1.17 billion, and its expense ratio is 0.75%. Its portfolio consists of 30 to 50 stocks.Tesla, Inc. (NASDAQ:TSLA) is the largest holding of the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ). Tesla, Inc. (NASDAQ:TSLA) is responsible for the design, development, manufacturing, leasing, and sale of electric vehicles, along with systems for creating and storing energy. The company has two main segments – Automotive, and Energy Generation and Storage.According to Insider Monkey’s second quarter database, 79 hedge funds were bullish on Tesla, Inc. (NASDAQ:TSLA), in contrast to the last quarter when 82 funds had invested in the stock. In addition to Albemarle Corporation (NYSE:ALB), Rivian Automotive, Inc. (NASDAQ:RIVN), and First Solar, Inc. (NASDAQ:FSLR), Tesla, Inc. (NASDAQ:TSLA) is one of the top stocks favored by elite hedge funds. Baron Opportunity Fund made the following comment about Tesla, Inc. (NASDAQ:TSLA) in its Q1 2023 investor letter:“Tesla, Inc. (NASDAQ:TSLA) designs, manufactures, and sells EVs, related software and components, and solar and energy storage products. Following a sharp decline at the end of 2022, Tesla’s stock rebounded in the first quarter of 2023 on investor expectations that Tesla will continue to grow vehicle deliveries and maintain solid gross and operating margins despite a potential recession, competition in China, and vehicle price reductions. We wrote a long piece on Tesla last quarter and refer readers back to it, because for long-term investors not much has changed over the last three months. Tesla did hold its first Investor Day in March, and several Baron analysts and portfolio managers attended. We toured the Austin Gigafactory, drove in a Cybertruck, boarded a Semi truck, and spoke with a wide swath of Tesla senior managers. During the formal presentation, Tesla highlighted, among other things: (1) its broad and deep bench of executive talent supporting CEO Elon Musk; (2) its “Master Plan 3–Sustainable Energy for All of Earth,” which featured EVs, renewable power from solar and wind, and stationary electric storage; (3) its vehicle assembly innovations, including massive casted parts (building Model Y bodies with single front and rear castings, replacing a substantial number of parts and fastening steps), a stainless steel exoskeleton (for Cybertruck), and its next-generation highly efficient “unboxed process” for its next-gen $25,000 vehicle; (4) a future permanent[1]magnet electric motor that will not require any rare earths; and (5) the massive untapped market opportunity for commercial stationary electric storage, branded Megapack, as the world steadily shifts to renewable energy. As long-term shareholders, we have witnessed Tesla exploit its innovative Model 3/Y now-global mass-market platform to increase vehicle deliveries from barely a standing start to over 1.3 million units, while achieving industry-leading margins and reinforcing its iron-clad balance sheet to almost $23 billion in cash (and effectively no recourse debt). We expect Tesla’s next-generation EV and Megapack products to have a similar impact on company results.”   Click to continue reading and see 5 Best Lithium ETFs.    Suggested articles:12 Largest Magnesium Producing Companies and Best Magnesium Stocks To Buy10 Best Plant-Based Meat Companies to Buy12 States With The Largest Refining Capacity Disclosure: None. 10 Best Lithium ETFs is originally published on Insider Monkey.

Insider Monkey

10 Best Lithium ETFs

https://finance.yahoo.com/news/10-best-lithium-etfs-221034075.html

94941611-4bdd-3567-919d-cdd30f440e84

ALGM

The sale reduced One Equity's stake from 9.2% of Allegro's shares, to 6.6%. One Equity sold a similar amount of stock in February.Continue reading

Barrons.com

Chip Maker Allegro’s Big Investor Sells $189 Million in Stock

https://finance.yahoo.com/m/9124b6cf-2d1e-31d1-b296-98f3c3bf5618/chip-maker-allegro%E2%80%99s-big.html

9124b6cf-2d1e-31d1-b296-98f3c3bf5618

ALGM

Allegro MicroSystems, Inc. (ALGM) closed at $34.80 in the latest trading session, marking a -0.77% move from the prior day. This change lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.Heading into today, shares of the company had lost 12.72% over the past month, lagging the Computer and Technology sector's gain of 0.07% and the S&P 500's loss of 1.27% in that time.Wall Street will be looking for positivity from Allegro MicroSystems, Inc. as it approaches its next earnings report date. In that report, analysts expect Allegro MicroSystems, Inc. to post earnings of $0.37 per share. This would mark year-over-year growth of 19.35%. Our most recent consensus estimate is calling for quarterly revenue of $275 million, up 15.71% from the year-ago period.ALGM's full-year Zacks Consensus Estimates are calling for earnings of $1.44 per share and revenue of $1.06 billion. These results would represent year-over-year changes of +12.5% and +11.99%, respectively.Any recent changes to analyst estimates for Allegro MicroSystems, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Allegro MicroSystems, Inc. is currently a Zacks Rank #2 (Buy).Valuation is also important, so investors should note that Allegro MicroSystems, Inc. has a Forward P/E ratio of 24.35 right now. For comparison, its industry has an average Forward P/E of 27.11, which means Allegro MicroSystems, Inc. is trading at a discount to the group.Story continuesThe Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAllegro MicroSystems, Inc. (ALGM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Allegro MicroSystems, Inc. (ALGM) Stock Sinks As Market Gains: What You Should Know

https://finance.yahoo.com/news/allegro-microsystems-inc-algm-stock-214521029.html

d727dff4-bf34-3c5e-a5b8-435f10d4c1bf

ALGN

Align Technology Inc (NASDAQ:ALGN) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at $346.54, Align Technology Inc has witnessed a decline of 6.26% over a period, marked against a three-month change of 16.01%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that Align Technology Inc is well-positioned for substantial growth in the near future.Warning! GuruFocus has detected 7 Warning Signs with ALGN. Click here to check it out. ALGN 30-Year Financial DataThe intrinsic value of ALGNUnveiling the Investment Potential of Align Technology Inc (ALGN): A Comprehensive AnalysisUnderstanding the GF ScoreThe GF Score is a stock performance ranking system developed by GuruFocus using five aspects of valuation, which has been found to be closely correlated to the long-term performances of stocks by backtesting from 2006 to 2021. The stocks with a higher GF Score generally generate higher returns than those with a lower GF Score. Therefore, when picking stocks, investors should invest in companies with high GF Scores. The GF Score ranges from 0 to 100, with 100 as the highest rank.Align Technology Inc has been assigned the following ranks:1. Financial strength rank: 8/102. Profitability rank: 10/103. Growth rank: 10/104. GF Value rank: 9/105. Momentum rank: 9/10Each one of these components is ranked and the ranks also have positive correlation with the long term performances of stocks. The GF score is calculated using the five key aspects of analysis. Through backtesting, we know that each of these key aspects has a different impact on the stock price performance. Thus, they are weighted differently when calculating the total score. GuruFocus assigned Align Technology Inc the GF Score of 100 out of 100, which signals the highest outperformance potential.Company Overview: Align Technology IncAlign Technology Inc, with a market cap of $26.52 billion, is the leading manufacturer of clear aligners. Its main product, Invisalign, approved by the FDA in 1998, has since dominated the market, controlling over 90% of the market. In 2022, Invisalign treated over 2 million cases, or roughly 10% of all orthodontic cases for the year, and it has treated over 14 million patients since its launch. Align also sells intraoral scanners under the brand iTero, which captures digital impressions of patients' teeth and illustrates treatment plans. Over 85% of Invisalign cases are submitted by digital scans and iTero scans make up over half of these scans.Story continuesUnveiling the Investment Potential of Align Technology Inc (ALGN): A Comprehensive AnalysisFinancial Strength AnalysisAccording to the Financial Strength rating, Align Technology Inc's robust balance sheet exhibits resilience against financial volatility, reflecting prudent management of capital structure. With an Altman Z-Score of 8.31, Align Technology Inc exhibits a strong defense against financial distress, highlighting its robust financial stability. With a favorable Debt-to-Revenue ratio of 0.04, Align Technology Inc's strategic handling of debt solidifies its financial health.Profitability Rank BreakdownThe Profitability Rank shows Align Technology Inc's impressive standing among its peers in generating profit. Align Technology Inc's strong Predictability Rank of 5.0 stars out of five underscores its consistent operational performance, providing investors with increased confidence.Growth Rank BreakdownRanked highly in Growth, Align Technology Inc demonstrates a strong commitment to expanding its business. The company's 3-Year Revenue Growth Rate is 16.6%, which outperforms better than 70.86% of 724 companies in the Medical Devices & Instruments industry. Moreover, Align Technology Inc has seen a robust increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past few years. Specifically, the three-year growth rate stands at 10.3, and the rate over the past five years is 17.8. This trend accentuates the company's continued capability to drive growth.Unveiling the Investment Potential of Align Technology Inc (ALGN): A Comprehensive AnalysisConclusionConsidering Align Technology Inc's financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights the firm's unparalleled position for potential outperformance. This analysis underscores the company's robust financial health, consistent profitability, and impressive growth trajectory, making it a compelling investment opportunity. GuruFocus Premium members can find more companies with strong GF Scores using the following screener link: GF Score ScreenThis article first appeared on GuruFocus.

GuruFocus.com

Unveiling the Investment Potential of Align Technology Inc (ALGN): A Comprehensive Analysis

https://finance.yahoo.com/news/unveiling-investment-potential-align-technology-160658739.html

779b885d-6556-38c0-98da-1829d2a5398a

ALGN

3D Systems Inc.ROCK HILL, S.C., Sept. 07, 2023 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) today issued a statement on the company’s ongoing partnership with Align Technology (NASDAQ:ALGN). The statement is in response to significant shareholder inquiries related to Align’s recent announcement that it has entered into a definitive agreement to acquire privately held Cubicure Gmbh.3D Systems’ 25-year partnership with Align where 3D Systems provides hardware, materials, processing, and services for Align in connection with its highly efficient indirect production of aligners remains strong. Align operates hundreds of 3D Systems’ printers producing over one million parts daily and continues to rely on 3D Systems to support its operations. 3D Systems’ forecasts remain intact and already account for Align’s existing partnership with Cubicure.“3D Systems continues to be a critical partner for Align,” said Emory Wright, Align Technology executive vice president, Global Operations. “We have worked with them over the past 25 years to transform a prototyping technology to a mass production system. Over those years we have been able to make significant advancements in the accuracy and productivity of the technology and we will continue to work with them to further advance our indirect printing of aligners into the future.”Cubicure’s R&D efforts on direct 3D printing of aligners have had no impact on 3D Systems. 3D Systems continues to move forward with advanced R&D to further its capabilities for direct printing aligners as that approach is further evaluated as a complement to well-established and highly efficient indirect production.About 3D SystemsMore than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction – empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3DSystems.com.Story continuesForward-Looking StatementsCertain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise.ContactsInvestors:3D [email protected] Partners, Inc.Dan Burch / Bob [email protected] / [email protected]. Media:FTI ConsultingPat Tucker / Rachel Chesley / Kyla [email protected]

GlobeNewswire

3D Systems Provides Statement on Ongoing Partnership with Align Technology

https://finance.yahoo.com/news/3d-systems-provides-statement-ongoing-224900226.html

b241bf0f-fc82-3a18-91cb-288f3e1415ed

ALHC

Alignment Healthcare USA, LLCDr. Ken Kim rejoins Medicare Advantage company to support clinical innovation for best-in-class senior careORANGE, Calif., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc. (NASDAQ: ALHC) today announced the return of Dr. Hyong (Ken) Kim, as its chief medical officer (CMO) effective Sept. 25. Dr. Kim will report to company Founder and CEO John Kao.Dr. Kim played an integral role in Alignment’s founding and, from 2013 to 2018, served as CMO of Alignment Healthcare, where he co-developed, built and managed Alignment’s clinical operations team. In addition, he helped design and implement the clinical foundation for Care Anywhere and AVA®, the company’s care model and in-house, artificial intelligence-enabled data analytics platform, respectively.“Ken helped build Alignment from the ground up when we started a decade ago, and we are delighted to welcome him back to the team at this pivotal time,” Kao said. “With his intimate knowledge of Alignment, his track record of success and his unique policy perspective, we are confident Ken will help us continue to scale and champion a new path in senior care.”Most recently, Dr. Kim served as Chief Clinical Officer at CareConnect MD. Prior to CareConnect MD, he was the CMO of the Center for Medicare & Medicaid Innovation (CMMI) from July 2018 to July 2019, where he advised on all payment and clinical model development. He also chaired the Quality Improvement Council, creating operational pathways for performance reviews for all 36 CMMI models. Before helping found Alignment, he was one of the clinical leaders at CareMore Health, ultimately serving as CMO from 2009 to 2013. As CareMore’s CMO, Dr. Kim scaled the company’s value-based care, chronic disease management and population health capabilities, resulting in best-in-class quality and cost outcomes.“It’s an honor to return to Alignment,” Dr. Kim said. “I am excited to step back into the CMO role and look forward to helping this patient-centric company evolve and grow as it continues to deliver affordable, high-quality care to seniors nationwide.”Story continuesBoard-certified in internal medicine, Dr. Kim completed his medical residency at Loma Linda University and holds a bachelor’s degree and M.D. from Indiana University. While he is a pioneer in population health, he considers himself a physician first and is committed to serving those in need of health care services by participating in health care ministries around the world. Additionally, Dr. Kim has served on several boards of directors and lectured on effective risk management, clinical quality outcomes and value-based payment at the University of California, Irvine.About Alignment HealthAlignment Health is championing a new path in senior care that empowers members to age well and live their most vibrant lives. A consumer brand name of Alignment Healthcare (NASDAQ: ALHC), Alignment Health is a tech-enabled Medicare Advantage company that offers more than 40 benefits-rich, value-driven plans that serve 52 counties across six states. The company partners with nationally recognized and trusted local providers to deliver coordinated care, powered by its customized care model, 24/7 concierge care team and purpose-built technology, AVA®. Based in California, the company’s mission-focused team makes high-quality, low-cost care a reality for members every day. As it expands its offerings and grows its national footprint, Alignment upholds its core values of leading with a serving heart and putting the senior first. For more information, visit www.alignmenthealth.com.Investor ContactHarrison [email protected] ContactPriya ShahmPR, Inc. for Alignment [email protected]

GlobeNewswire

Alignment Healthcare Welcomes New Chief Medical Officer

https://finance.yahoo.com/news/alignment-healthcare-welcomes-chief-medical-200100154.html

feb29c87-bf32-38f5-8464-85559bb725a0

ALHC

Alignment Healthcare USA, LLC2nd annual Alignment Health report shows 1 in 5 seniors skip needed medical care, seniors are more depressed and anxious than a year agoORANGE, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Economic instability, food insecurity, lack of support and transportation access are the top social barriers to senior health, according to Alignment Health’s second annual Social Threats to Aging Well in America survey, which explores the financial, physical and emotional threats to seniors’ ability to age well and live healthier, more prosperous lives.This year’s report reveals a slight shift in the top social barriers impacting senior health compared to last year. In 2022, seniors ranked economic instability, loneliness and food insecurity as their top barriers. This year, food insecurity moved up to the No. 2 spot while transportation access entered the top three. Additionally, while last year's report singled out loneliness as a top barrier, the 2023 survey asked seniors to provide insight on the importance of lack of support.“It’s no surprise to see food insecurity and transportation access among seniors’ top concerns, given record inflation at the grocery checkout line, gas pumps and vehicle repair shops, as well as in the housing sector and elsewhere. Many people must choose between a roof over their head and a car to drive, food or medical care,” said Dr. Adam Wolk, regional chief medical officer of Alignment Health. “Through this survey, Alignment gives seniors a voice so we can better understand and help alleviate their obstacles to health and happiness.”Alignment’s 2023 survey notes that 1 in 5 seniors are skipping medical care, primarily due to lack of money and transportation. Additionally, 1 in 5 seniors say they are more depressed now than they were a year ago, and the leading cause of depression and anxiety among seniors is their health.Highlights from the 2023 Social Threats to Aging Well in America survey include:Story continuesEconomic InstabilityOf the 1 in 5 seniors who skip medical care, 29% say they were worried about not having enough money to pay for needed care.When picking a single obstacle to health and wellness, difficulty paying for medical expenses is singled out by 1 in 5 seniors.1 in 9 say they do not have the resources and support to cover medical bills in the next year and 1 in 7 (14%) carry medical debt. Half of those with medical debt have debts equivalent to at least one month of living expenses.The ability to pay for living expenses is a leading cause of depression and anxiety for 1 in 4 respondents.Food InsecurityOf those who are concerned about negative impacts to their health in the next year, nearly 1 in 5 survey respondents (19%) cite a lack of healthy food to eat – up from 15% last year.More than 1 in 11 say struggling to put healthy food on the table causes depression and anxiety.For the second consecutive year, a monthly grocery allowance ranks highest as the benefit seniors say they would use if their health insurance offered it (55%).Lack of SupportOf those who are concerned about negative impacts to their health in the next year, nearly 1 in 5 seniors shared they had no one to help them.Additionally, nearly 11% of seniors who skipped needed medical care in the last year say they did so because of a lack of support.When asked what seniors think could prevent them from staying in their own home as they age, 26% cite a lack of support as a barrier to their ongoing independence.Nearly 1 in 5 seniors say they would use non-medical companionship if available to them through health insurance.Transportation1 in 8 (12%) seniors cite a lack of reliable transportation as a barrier to their independence and ability to stay home as they age.More than 18% of seniors who skipped needed medical care in the last year say they did so because they did not have a ride.2 in 5 (44%) seniors say they would use fuel assistance to and from medical appointments if available to them through their health insurance.LonelinessNearly 1 in 3 seniors say they frequently go two weeks or more without spending time with others — if ever.1 in 5 seniors say they are lonelier now than they were a year ago.When asked what caused the most depression or anxiety for them in the last year, loneliness landed in the top three, impacting the mental health of nearly 1 in 5 respondents (19%).Mental HealthOf those seniors who anticipate health obstacles in the next year, more than a quarter are concerned their mental health will negatively impact their physical health.Nearly 1 in 10 seniors cite depression and anxiety as their top health and wellness obstacles.The leading cause of depression and anxiety among seniors is their health (35%).Aging in PlaceWhile 93% of U.S. adults say aging in place is important to them,1 the 2023 Social Threats to Aging Well in America survey finds that concern about losing their independence is a top cause of depression and anxiety among seniors nationwide.Seniors say they want and would use help to maintain their independence if health insurance offered benefits, such as:Help making their homes safer (35%)Personal medical safety alert system (35%)In-home health care visits (34%)Non-medical companion care (18%)About the 2023 Social Threats to Aging Well in America surveyThe 2023 Social Threats to Aging Well in America survey was administered by Toluna and sponsored by Alignment Health, a Medicare Advantage company.This survey was designed to identify challenges and concerns that prevent seniors from getting the kind of care they need, to generate discussions about seniors’ needs in the U.S. and to compare results from 2023 to the benchmark survey in 2022 where applicable.Conducted online from June 28 to July 10, 2023, the survey included a nationally and regionally representative sample of 2,601 U.S. seniors ages 65 and older, including more than 100 senior residents each in six states: Arizona, California, Florida, Nevada, North Carolina and Texas. To qualify, respondents from Toluna's research panel had to be 65 years or older, live in the United States and be able to identify the type of health insurance they had.Respondents for this survey were selected from among those who have agreed to participate in Toluna surveys. Because the sample is based on those who agreed to participate in Toluna surveys (and not on the total US population), no estimates of theoretical sampling error can be calculated. Please note that the survey’s sample size and differences in year-over-year data may not represent statistical significance.View the full report at alignmenthealth.com/survey2023.About Alignment HealthAlignment Health is championing a new path in senior care that empowers members to age well and live their most vibrant lives. A consumer brand name of Alignment Healthcare (NASDAQ: ALHC), Alignment Health is a tech-enabled Medicare Advantage company that offers more than 40 benefits-rich, value-driven plans that serve 52 counties across six states. The company partners with nationally recognized and trusted local providers to deliver coordinated care, powered by its customized care model, 24/7 concierge care team and purpose-built technology, AVAⓇ. Based in California, the company’s mission-focused team makes high-quality, low-cost care a reality for members every day. As it expands its offerings and grows its national footprint, Alignment upholds its core values of leading with a serving heart and putting the senior first. For more information, visit www.alignmenthealth.com.Media ContactPriya ShahmPR, Inc. for Alignment [email protected] https://www.usnews.com/360-reviews/services/senior-tech-aging-in-place-surveyA Media Snippet accompanying this announcement is available by clicking on the image or link below:

GlobeNewswire

Social Threats to Aging Well in America: 2023 Survey Reveals Economic Instability, Food Insecurity, Lack of Support and Transportation Access as Top Barriers to Senior Health

https://finance.yahoo.com/news/social-threats-aging-well-america-100000830.html

5310a4c3-539f-3a64-9947-87380ed01771

ALK

In the past week, management of airline heavyweights --- United Airlines UAL, Alaska Air Group ALK and Southwest Airlines LUV increased their respective projections for third-quarter 2023 fuel price per gallon. Hawaiian Holdings HA, meanwhile, revised its projections downward for key metrics for third-quarter as well as full-year 2023.The devastation caused by wildfire to the Lahaina town in West Maui resulted in dull projections. Also, issues with RTX's Pratt & Whitney engines that power Airbus' popular A320neo jets added to the woes. We note that HA’s fleet includes A320neo jets with engines, which need to be inspected following problems identified by Pratt & Whitney. European carrier, Ryanair Holdings RYAAY, grabbed headlines by virtue of its stellar traffic numbers for the month of August.Read the Last Airline Roundup hereRecap of the Past Week’s Most Important Stories1. United Airlines’ management stated that “since mid-July 2023, jet fuel prices have climbed over 20%”. United Airlinesnow expects the fuel cost per gallon in the $2.95-$3.05 band (the earlier guidance was in the $2.5-$2.8 range). Southwest Airlines now expects the fuel cost per gallon in the $2.7-$2.8 band (the earlier guidance was in the $2.55-$2.65 range). Operating revenue per available seat mile for the third quarter of 2023 is now expected to decline in the 5-7% band from third-quarter 2022 actuals (the earlier projection was for a 3-7% decline).Alaska Air now expects the fuel cost per gallon in the $3.15-$3.25 band (the earlier guidance was in the $2.7-$2.8 range). Due to high costs, the third-quarter adjusted pre-tax margin is now expected in the 10-12% range (earlier guidance was 14-16%). Total revenues are now expected to increase in the 1-2% range from third-quarter 2022 actuals (the earlier projection was for a 0-3% increase). Non-fuel unit costs are now expected to be down 1-2% (earlier guidance: down 0-2%). Available seat miles (a measure of capacity) are now expected to be up approximately 13% in third-quarter 2023 from the third-quarter 2022 actuals (earlier guidance: up 10-13%)Story continues2. Ryanair, currently sporting a Zack Rank #1 (Strong Buy), reported highly impressive traffic numbers for the month of August, driven by upbeat air travel demand. The number of passengers ferried on RYAAY flights in August was 18.9 million, implying that 12% more passengers flew than a year ago. This was an all-time monthly high traffic number. Owing to upbeat traffic, the load factor (percentage of seats filled by passengers) was as high as 96% in August.You can see the complete list of today’s Zacks #1 Rank stocks here.3. For the third quarter of 2023, available seat miles or ASM are now projected by HA to increase 4-5.5% from third-quarter 2022 levels (earlier guidance: 4.5-7.5% rise). Total revenues per available seat miles are now anticipated to decrease 4-7% from third-quarter 2022 levels (prior projection: 2-5% decline). Fuel price per gallon is now expected at $2.91 in third-quarter 2023 (the earlier view was $2.67). The effective tax rate is still anticipated to be 21% in the third quarter. ASMs are now projected to climb in the 8-10% band for full-year 2023 (earlier guidance: 8.5-10.5% jump).Price PerformanceThe following table shows the price movement of the major airline players over the past week and during the past six months.Zacks Investment ResearchImage Source: Zacks Investment ResearchThe table above shows that all airline stocks traded in the red in the past week. As a result, the NYSE ARCA Airline Index declined 5% over the period to $58.66. Over the course of the past six months, the sector tracker has decreased 7.7%.What's Next in the Airline Space?Stay tuned for the usual news updates in the space.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportRyanair Holdings PLC (RYAAY) : Free Stock Analysis ReportUnited Airlines Holdings Inc (UAL) : Free Stock Analysis ReportSouthwest Airlines Co. (LUV) : Free Stock Analysis ReportAlaska Air Group, Inc. (ALK) : Free Stock Analysis ReportHawaiian Holdings, Inc. (HA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Airline Stock Roundup: UAL, ALK & LUV's Q3 Fuel Cost Warning, HA's Dull View

https://finance.yahoo.com/news/airline-stock-roundup-ual-alk-133000019.html

386afc47-7253-3211-aef4-4dae20a26471

ALK

SEATTLE, Sept. 8, 2023 /PRNewswire/ -- Alaska Air Group Inc., the parent company of Alaska Airlines Inc. and Horizon Air Industries Inc., today announced it will webcast a fireside chat with CFO Shane Tackett at 3:15 p.m. ET, Tuesday, September 12, 2023, from the Morgan Stanley Conference. The presentation will be webcast live at https://investor.alaskaair.com.(PRNewsfoto/Alaska Airlines)Alaska Airlines and our regional partners serve more than 120 destinations across the United States, Belize, Canada, Costa Rica and Mexico. We strive to be the most caring airline with award-winning customer service and an industry-leading loyalty program. Alaska is a member of the oneworld global alliance. With the alliance and our additional airline partners, our guests can travel to more than 900 destinations on more than 20 airlines while earning and redeeming miles on flights to locations around the world. Learn more about Alaska at news.alaskaair.com Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/alaska-air-group-to-webcast-from-the-morgan-stanley-11th-annual-laguna-conference-301922478.htmlSOURCE Alaska Airlines

PR Newswire

Alaska Air Group to webcast from the Morgan Stanley 11th Annual Laguna Conference

https://finance.yahoo.com/news/alaska-air-group-webcast-morgan-215000559.html

45bf4a8a-22ef-32c5-8049-e2eab5c46146

ALL

NORTHBROOK, Ill., August 30, 2023--(BUSINESS WIRE)--The Allstate Corporation (NYSE: ALL) today declared approximately $18.2 million in aggregate dividends on two series of preferred stock for the dividend period from July 15, 2023, through Oct. 14, 2023. All the preferred dividends are payable in cash on Oct. 16, 2023, to stockholders of record at the close of business on Sept. 29, 2023, as follows:SeriesAnnualDividend RateQuarterly AmountPer Depositary ShareSeries H5.100%$0.3187500Series I4.750%$0.2968750The Allstate Corporation also declared a dividend of approximately $18.1 million at an annual dividend rate equal to 7.375% on the corporation’s Series J preferred stock for the dividend period from May 18, 2023 through Oct. 14, 2023. Accordingly, holders will receive $0.7528646 per depository share. This Series J preferred stock dividend will be payable in cash on Oct. 16, 2023, to stockholders of record at the close of business on Sept. 29, 2023.Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230830923481/en/ContactsAl Scott(847) 402-5600

Business Wire

Allstate Announces Preferred Stock Dividends

https://finance.yahoo.com/news/allstate-announces-preferred-stock-dividends-210200772.html

26387548-64a4-3a74-ae02-ac4c7f89fca1

ALL

A month has gone by since the last earnings report for Allstate (ALL). Shares have added about 2.6% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Allstate due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Allstate Q2 Loss Wider Than Expected on High Cat LossesAllstate incurred a second-quarter 2023 adjusted loss of $4.42 per share, wider than the Zacks Consensus Estimate of a loss of $3.83 per share. The figure was also wider than the prior-year quarter’s loss of 75 cents per share.Operating revenues of $14,130 million advanced 9.1% year over year in the quarter under review on the back of 9.8% growth in property and casualty (P&C) insurance premiums. The top line missed the consensus mark by a whisker.The quarterly results suffered a blow due to elevated catastrophe losses, inducing weakness in its underwriting results. Higher claim frequency and an increased expense level also dampened Allstate’s performance in the second quarter. Nevertheless, the downside is partly offset by rate increases in auto and homeowners insurance businesses.Q2 OperationsNet investment income rose 8.5% year over year to $610 million, higher than our estimate of $519.3 million. The growth came on the back of increased yields from fixed income portfolio.  Market-based investment income soared 45.7% year over year in the quarter under review while performance-based investment income plunged 46.2% year over year.Total costs and expenses came in at $15,727 million, which escalated 16.2% year over year mainly due to higher P&C insurance claims and claim expenses.Allstate incurred a pretax loss of $1,748 million in the second quarter, wider than the prior-year quarter’s loss of $1,311 million.As of Jun 30, 2023, total policies in force of 188 million inched up 0.2% year over year.Catastrophe losses more than doubled year over year to $2,696 million in the second quarter.Story continuesSegmental PerformancesThe Property-Liability segment recorded premiums written of $12,620 million, which improved 9.7% year over year in the second quarter and came higher than our estimate of $11,572.2 million. The year-over-year improvement can be attributed to strength in the Allstate brand and National General. While the Allstate brand benefited on the back of expanding auto and homeowners average premiums, growth of policies in force provided an impetus to National General.The unit incurred an underwriting loss of $2,094 million, wider than the prior-year quarter’s loss of $864 million. The underwriting results took a hit from elevated catastrophe losses and higher personal auto injury coverages. The underlying combined ratio improved 50 basis points (bps) year over year to 92.9% in the quarter under review.The Protection Services segment’s revenues grew 9.1% year over year to $686 million in the second quarter, thanks to an expanding product suite, international growth and rate increases. Adjusted net income of $41 million slid 2% year over year and also missed our estimate of $53.7 million.The Allstate Health and Benefits segment reported total premium and contract charges of $453 million, which tumbled 2.6% year over year in the quarter under review due to softness in individual health and employer voluntary benefits. Adjusted net income fell 14.9% year over year to $57 million and fell short of our estimate of $61.3 million.Financial Update (as of Jun 30, 2023)Allstate exited the second quarter with a cash balance of $699 million, which slipped 5% from the 2022-end level. Total assets of $100.5 billion increased 2.6% from the figure at 2022 end.Debt amounted to $7,949 million, which dipped 0.2% from the figure as of Dec 31, 2022.  Total shareholders’ equity declined 11.3% from the 2022-end level to $15,517 million.Book value per common share came in at $51.29, which dropped 22.2% year over year.The adjusted net income return on ALL’s common shareholders’ equity in the trailing 12-month period came in at a negative figure of 12.7%. The metric was recorded at 7.1% in the prior-year comparable period.Capital Deployment UpdateDue to underwriting losses and subsequent net loss reported by Allstate in the second quarter of 2023, share repurchases pursuant to the $5 billion authorization were temporarily put on hold in July.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.The consensus estimate has shifted -47.33% due to these changes.VGM ScoresCurrently, Allstate has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Allstate has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThe Allstate Corporation (ALL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Allstate (ALL) Up 2.6% Since Last Earnings Report?

https://finance.yahoo.com/news/why-allstate-2-6-since-153115606.html

00225463-b313-3b3a-a714-0e2b09c960f0

ALLE

Stocks are rarely "on sale" without good reason. In this case, both of these stocks have disappointed the market recently with their earnings reports. That's why their share prices have declined, but I think it looks like a good time to dip the toe in these stocks with a small position to monitor, with a view to buying more as conditions improve.Continue reading

Motley Fool

These 2 Stocks Are on Sale: Why You Can't Miss Out on This Spectacular Buying Opportunity

https://finance.yahoo.com/m/f1db83f2-fe40-3628-82a9-bbd47e2309d1/these-2-stocks-are-on-sale-.html

f1db83f2-fe40-3628-82a9-bbd47e2309d1

ALLE

DUBLIN, September 07, 2023--(BUSINESS WIRE)--Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, today announced that its board of directors declared a quarterly dividend of $0.45 per ordinary share of the company.The dividend is payable on Sept. 29, 2023, to shareholders of record on Sept. 18, 2023.About AllegionAllegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $3.3 billion in revenue in 2022, and its security products are sold around the world.For more, visit www.allegion.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907057491/en/ContactsMedia Contact: Whitney Moorman – Reputation Management [email protected] Contact: Jobi Coyle – Director, Investor [email protected]

Business Wire

Allegion Declares Quarterly Dividend

https://finance.yahoo.com/news/allegion-declares-quarterly-dividend-210000170.html

ce67aa65-14b5-31a9-9eed-bb8fec2ae6aa

ALLO

In this piece, we will take a look at the 16 most shorted stocks right now. If you want to skip our introduction to short selling, then take a look at 5 Most Shorted Stocks Right Now. One of the most intriguing plays on the stock market is short selling. This is because it goes against conventional investment logic, which typically seeks to profit from an increase in share prices. A short seller is betting on a negative share price movement, a risky endeavor that carries the chance of significant losses that can often be twice or thrice the original investment. At the same, the opportunity for a profit is also massive, and often higher than what you would see in a long position.There are several ways in which one can short the market. The most common one out of these is simply borrowing the shares of a firm to sell them on the market and waiting for a price drop to scoop them up at a lower price to make a profit. Another way to profit from a share price drop is to buy a Put option. A Put is a relatively safer way of shorting a stock. This option, officially called a financial derivative instrument, provides the buyer of an option with the right to sell the underlying security at a predetermined price.So, for instance, if shares of Firm A are currently trading at $10 and a trader buys a Put with the predetermined security price (the strike price) of $10, then if Firm A's share price drops to $5 the option will be 'in the money' as the option buyer will be able to sell the shares at a higher price. A Put is a safer way to short a stock since it limits the downside to the short seller. This is because these options charge a premium per share which is the amount paid by the option buyer to the seller. If the Put option becomes out of money, i.e. its underlying security or stock rises in value then the option buyer will not exercise the right to sell the shares and the only loss they will make is will be the premium paid. As opposed, full fledged short selling does not provide any hedge whatsoever against a share price gain and the short seller has to pay all of the share price increase in order to repurchase the borrowed shares.Story continuesBriefly moving towards the market, one of the biggest short plays this year is the one by Hindenburg Research against Icahn Enterprises L.P. (NASDAQ:IEP). Icahn Enterprises is controlled by the well known billionaire investor Carl Icahn who is renowned for his activist investment approach that sees him take large stakes in firms which he believes are underperforming. However, in a rather strange twist of irony, Hindenburg alleged in its report that Icahn Enterprises was using proceeds from new investments to pay out dividends to old investors and pointed out that Mr. Icahn had followed the trend of several billionaires by taking out loans against his Icahn Enterprise holdings. According to the short seller, these have led to Icahn Enterprises' stock being overvalued because of improper dividend payments and put Mr. Icahn at risk of being called out by banks should his firm's stock depreciate. Icahn Enterprises, whose shares have been relatively stable and traded within the $41 - $53 band since 2020, saw the price drop by 20% and it has been unable to regain these losses since then as they are currently trading for $19.90 at the time of writing.So, are there any more stocks with the potential to be Icahn Enterprises? We took a look and found out that some of the most heavily shorted stocks right now are Novavax, Inc. (NASDAQ:NVAX), Carvana Co. (NYSE:CVNA), and BioXcel Therapeutics, Inc. (NASDAQ:BTAI).16 Most Shorted Stocks Right NowImage by Gerd Altmann from PixabayOur Methodology. For this article, we compiled the top 16 stocks with the highest short interest as a percentage of float. Short interest is the number of shares that have been sold short and remain outstanding and this metric represents the short seller sentiment against a company.Most Shorted Stocks Right Now16. Enovix Corporation (NASDAQ:ENVX)Short Interest Percentage: 26.78%Enovix Corporation (NASDAQ:ENVX) is a small company that makes and sells batteries. Even though it is one of the most shorted stocks you're likely to come across, the stock is still rated Strong Buy on average and analysts have penned in an average share price target of $32.09.20 out of the 910 hedge funds part of Insider Monkey's Q2 2023 database had held a stake in Enovix Corporation (NASDAQ:ENVX). Out of these, the firm's biggest shareholder is Peter S. Park's Park West Asset Management through a stake worth $97 million.Along with Novavax, Inc. (NASDAQ:NVAX), Carvana Co. (NYSE:CVNA), and BioXcel Therapeutics, Inc. (NASDAQ:BTAI), Enovix Corporation (NASDAQ:ENVX) is one of the most shorted stocks in the U.S. right now.15. Allogene Therapeutics, Inc. (NASDAQ:ALLO)Short Interest Percentage: 28.83%Allogene Therapeutics, Inc. (NASDAQ:ALLO) is a biotechnology company that develops cancer treatments. Its shares are also rated Strong Buy on average, and the average share price target of $16.93 sees a sizeable upside over the current share price of $3.83.As of June 2023, 22 out of the 910 hedge funds surveyed by Insider Monkey had held a stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO). Michael Rockefeller and Karl Kroeker's Woodline Partners is the company's biggest hedge fund shareholder due to its $26.4 million investment.14. Guess?, Inc. (NYSE:GES)Short Interest Percentage: 29.74%Guess?, Inc. (NYSE:GES) is a popular consumer cyclical firm that sells clothes. Its shares nearly reversed all losses of the year in late August following a strong earnings report which beat analyst revenue and profit estimates.As of 2023's June quarter, 16 out of the 910 hedge funds profiled by Insider Monkey had held Guess?, Inc. (NYSE:GES)'s shares. Paul Marshall and Ian Wace's Marshall Wace LLP is the biggest investor among these through a $27.9 million stake.13. Lemonade, Inc. (NYSE:LMND)Short Interest Percentage: 29.78%Lemonade, Inc. (NYSE:LMND) is a global insurance company headquartered in New York City. A boost in interest rates has benefited insurance firms, and Lemonade, Inc. (NYSE:LMND) is no exception as it has beaten analyst EPS estimates in all four of its latest quarters.Insider Monkey dug through 910 hedge fund holdings for this year's second quarter and discovered 15 investors in the insurance firm. Lemonade, Inc. (NYSE:LMND)'s largest shareholder in our database is Israel Englander's Millennium Management since it owns $15 million worth of shares.12. The Lovesac Company (NASDAQ:LOVE)Short Interest Percentage: 30.59%The Lovesac Company (NASDAQ:LOVE) is a furniture company with a presence in more than three dozen American states. It is a rare consumer cyclical stock that has beaten analyst EPS estimates for all four of its latest quarters and the stock is also rated Strong Buy as average.After scouring through 910 hedge fund portfolios for Q2 2023, Insider Monkey found that 17 had invested in the firm. Out of these, The Lovesac Company (NASDAQ:LOVE)'s largest stakeholder is Paul Marshall and Ian Wace's Marshall Wace LLP since it owns 587,770 shares that are worth $15.8 million.11. Cassava Sciences, Inc. (NASDAQ:SAVA)Short Interest Percentage: 31%Cassava Sciences, Inc. (NASDAQ:SAVA) is a small biotechnology company that is focusing on developing treatments for Alzheimer's disease. There seems to be a big tussle between analysts and short sellers for its shares as while the former has penned in an $80 upside to the stock, the latter have shorted 31% of the float.Insider Monkey's second quarter of 2023 survey covering 910 hedge fund portfolios revealed that eight had bought the firm's shares. Cassava Sciences, Inc. (NASDAQ:SAVA)'s largest stakeholder among these is Ken Griffin's Citadel Investment Group since it holds a $3.7 million stake.Carvana Co. (NYSE:CVNA), Cassava Sciences, Inc. (NASDAQ:SAVA), Novavax, Inc. (NASDAQ:NVAX), and BioXcel Therapeutics, Inc. (NASDAQ:BTAI) are some stocks with a significant percentage of short interest to its float.10. Upstart Holdings, Inc. (NASDAQ:UPST)Short Interest Percentage: 31.62%Upstart Holdings, Inc. (NASDAQ:UPST) is a financial technology company that uses artificial intelligence to connect debtors and creditors. Analyst sentiment is rather dour for the shares as they are rated Hold on average. However, the shares are up by 129% year to date, so perhaps the short sellers believe there's plenty of room for them to fall.By the end of this year's second quarter, 15 out of the 910 hedge funds part of Insider Monkey's research had held a stake in Upstart Holdings, Inc. (NASDAQ:UPST). D. E. Shaw's D E Shaw is the firm's biggest investor since it owns 2.5 million shares that are worth $92 million.9. C3.ai, Inc. (NYSE:AI)Short Interest Percentage: 33.19%C3.ai, Inc. (NYSE:AI) is an artificial intelligence specific digital transformation firm that enables customers to integrate the technology in their business operations. Despite the fact that it is an AI firm and has beaten analyst EPS estimates for all of its latest quarters, the stock is rated Hold on average as analysts and short sellers seem to agree about its prospects.Insider Monkey scoured through 910 hedge fund portfolios for 2023's June quarter to discover that 23 had invested in the company. C3.ai, Inc. (NYSE:AI)'s largest stakeholder is Philippe Laffont's Coatue Management through its $53.7 million investment.8. Beyond Meat, Inc. (NASDAQ:BYND)Short Interest Percentage: 36.64%Beyond Meat, Inc. (NASDAQ:BYND) is a consumer cyclical firm that makes and sells plant based meat products. It's perhaps unsurprising that more than a quarter of its float has been shorted since its latest quarter revealed a steep revenue drop and a poor gross margin. Its woes were further fueled by a drop in shipments indicating an inability to gain market share.By the end of this year's second quarter, 15 out of the 910 hedge funds surveyed by Insider Monkey had bought Beyond Meat, Inc. (NASDAQ:BYND)'s shares. Out of these, the biggest shareholder is Philippe Laffont's Coatue Management since it owns 490,640 shares that are worth $6.3 million.7. Fate Therapeutics, Inc. (NASDAQ:FATE)Short Interest Percentage: 36.79%Fate Therapeutics, Inc. (NASDAQ:FATE) is a biotechnology company that develops treatments for cancer and immune system disorders. Despite a high short interest percentage, insiders have bought nearly $700,000 worth of shares over the past 12 months but have suffered from a 73.7% share price drop year to date.By the end of this year's second quarter, 23 out of the 910 edge funds polled by Insider Monkey had invested in the company. Fate Therapeutics, Inc. (NASDAQ:FATE)'s largest hedge fund investor is Jeremy Green's Redmile Group since it owns 13.1 million shares that are worth $62 million.6. Fisker Inc. (NYSE:FSR)Short Interest Percentage: 39.48%Fisker Inc. (NYSE:FSR) is an electric vehicle manufacturer and seller. The firm's second quarter saw it continue to report losses and also cut its production targets due to supply chain woes.Insider Monkey's Q2 2023 survey of 910 hedge funds revealed 11 Fisker Inc. (NYSE:FSR) investors. It joins Novavax, Inc. (NASDAQ:NVAX), Carvana Co. (NYSE:CVNA), and BioXcel Therapeutics, Inc. (NASDAQ:BTAI) in our list of the most shorted stocks right now. Click to continue reading and see 5 Most Shorted Stocks Right Now.  Suggested Articles:10 Technology Stocks with Insider Buying12 Undervalued Wide Moat Stocks To Invest In15 Most Shorted Stocks That Are Loved by AnalystsDisclosure: None. 16 Most Shorted Stocks Right Now is originally published on Insider Monkey.

Insider Monkey

16 Most Shorted Stocks Right Now

https://finance.yahoo.com/news/16-most-shorted-stocks-now-113011933.html

ea7604ad-8d5b-3fbe-9a89-a52c91038b9d

ALLO

Allogene Therapeutics, Inc.SOUTH SAN FRANCISCO, Calif., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T™) products for cancer, today announced that it will participate in an upcoming investor conference in September.Baird 2023 Global Healthcare ConferenceTuesday, September 12, 202312:45PM PT/3:45PM ETAny available webcasts will be posted to the Company's website at www.allogene.com under the Investors tab in the News and Events section. Following a live webcast, a replay will be available on the Company's website for approximately 30 days.About Allogene TherapeuticsAllogene Therapeutics, with headquarters in South San Francisco, is a clinical-stage biotechnology company pioneering the development of allogeneic chimeric antigen receptor T cell (AlloCAR T™) products for cancer. Led by a management team with significant experience in cell therapy, Allogene is developing a pipeline of “off-the-shelf” CAR T product candidates with the goal of delivering readily available cell therapy on-demand, more reliably, and at greater scale to more patients. For more information, please visit www.allogene.com, and follow @AllogeneTx on Twitter and LinkedIn.Cautionary Note on Forward-Looking Statements for AllogeneThis press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The press release may, in some cases, use terms that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the ability to develop allogeneic CAR T products for cancer and the potential benefits of AlloCAR T products. Various factors may cause material differences between Allogene’s expectations and actual results, including, risks and uncertainties related to: the novelty of the technologies upon which our product candidates are based, which makes it difficult to predict the time and cost of product candidate development and obtaining regulatory approval. These and other risks are discussed in greater detail in Allogene’s filings with the SEC, including without limitation under the “Risk Factors” heading of its Form 10-Q for the quarter ended June 30, 2023. Any forward-looking statements that are made in this press release speak only as of the date of this press release. Allogene assumes no obligation to update the forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.Story continuesAlloCAR T™ is a trademark of Allogene Therapeutics, Inc.Allogene Media/Investor Contact:Christine CassianoEVP, Chief Corporate Affairs & Brand Strategy [email protected]

GlobeNewswire

Allogene Therapeutics Announces Participation in September Investor Conference

https://finance.yahoo.com/news/allogene-therapeutics-announces-participation-september-123000660.html

69710a21-2c7e-3e56-b9e8-696afa17ab6b

ALLY

In an environment of lofty valuations, this stock is still dirt cheap -- even if you only have $100 to invest.Continue reading

Motley Fool

1 No-Brainer Warren Buffett Stock to Buy With $100 Right Now

https://finance.yahoo.com/m/0e744c6d-f699-3643-833f-73da3e065a83/1-no-brainer-warren-buffett.html

0e744c6d-f699-3643-833f-73da3e065a83

ALLY

Many regional banks are still well below the highs, and there are some excellent opportunities for investors.Continue reading

Motley Fool

Regional Banks Are on the Hot Seat Again, but I'm Still Excited to Buy Shares of These Two High-Yield Stocks

https://finance.yahoo.com/m/981253cd-f46a-374b-9e75-08471951137d/regional-banks-are-on-the-hot.html

981253cd-f46a-374b-9e75-08471951137d

ALPN

SEATTLE, September 05, 2023--(BUSINESS WIRE)--Alpine Immune Sciences, Inc. (NASDAQ: ALPN), a leading clinical-stage immunotherapy company focused on developing innovative treatments for autoimmune and inflammatory diseases, today announced that the Company will participate in two upcoming healthcare conferences.Thursday, September 7th, the Company will host investor meetings at Citi’s 18th Annual BioPharma Conference in Boston, MA.Wednesday, September 13th at 10:50am ET/7:50am PT, the Company will participate in a fireside chat and also host investor meetings at the 21st Annual Morgan Stanley Global Healthcare Conference in New York, NY.A live webcast of the Morgan Stanley fireside chat will be available in the investor relations section of the Company’s website at https://ir.alpineimmunesciences.com/events and a replay will be available on the Company's website for 90 days following the event.About Alpine Immune SciencesAlpine Immune Sciences is committed to leading a new wave of immune therapeutics. With world-class research and development capabilities, a highly productive scientific platform, and a proven management team, Alpine is seeking to create first- or best-in-class multifunctional immunotherapies via unique protein engineering technologies to improve patients’ lives. Alpine has entered into strategic collaborations with leading global biopharmaceutical companies and has a diverse pipeline of clinical and preclinical candidates in development. For more information, visit www.alpineimmunesciences.com. Follow @AlpineImmuneSci on Twitter and LinkedIn.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905389290/en/ContactsMedia and Investor Relations Contact: Temre JohnsonAlpine Immune Sciences, [email protected] [email protected]

Business Wire

Alpine Immune Sciences to Participate in Two Upcoming Healthcare Conferences

https://finance.yahoo.com/news/alpine-immune-sciences-participate-two-203000971.html

147a452d-391b-38a6-9978-15291ad33ff2

ALPN

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Si-Bone (SIBN) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.Si-Bone is a member of our Medical group, which includes 1111 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Si-Bone is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for SIBN's full-year earnings has moved 13.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, SIBN has gained about 55.7% so far this year. Meanwhile, the Medical sector has returned an average of -2.4% on a year-to-date basis. This shows that Si-Bone is outperforming its peers so far this year.Another Medical stock, which has outperformed the sector so far this year, is Alpine Immune Sciences, Inc. (ALPN). The stock has returned 65.2% year-to-date.The consensus estimate for Alpine Immune Sciences, Inc.'s current year EPS has increased 9.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Si-Bone belongs to the Medical - Instruments industry, a group that includes 95 individual stocks and currently sits at #144 in the Zacks Industry Rank. On average, stocks in this group have gained 2.7% this year, meaning that SIBN is performing better in terms of year-to-date returns.Story continuesOn the other hand, Alpine Immune Sciences, Inc. belongs to the Medical - Drugs industry. This 199-stock industry is currently ranked #100. The industry has moved -4% year to date.Investors with an interest in Medical stocks should continue to track Si-Bone and Alpine Immune Sciences, Inc. These stocks will be looking to continue their solid performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSiBone (SIBN) : Free Stock Analysis ReportAlpine Immune Sciences, Inc. (ALPN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Has SiBone (SIBN) Outpaced Other Medical Stocks This Year?

https://finance.yahoo.com/news/sibone-sibn-outpaced-other-medical-134007158.html

9d001e94-7999-3bfa-a013-16bf201b0eee

ALRN

Shares of Aileron Therapeutics, Inc. (ALRN) have been struggling lately and have lost 21% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this company enhances its prospects of a trend reversal.1-month candlestick chart for ALRNUnderstanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Story continuesLike every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Makes the Trend Reversal More Likely for ALRNThere has been an upward trend in earnings estimate revisions for ALRN lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.Over the last 30 days, the consensus EPS estimate for the current year has increased 63.2%. What it means is that the sell-side analysts covering ALRN are majorly in agreement that the company will report better earnings than they predicted earlier.If this is not enough, you should note that ALRN currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, the Zacks Rank has proven to be an excellent timing indicator, helping investors identify precisely when a company's prospects are beginning to improve. So, for the shares of Aileron Therapeutics, Inc. a Zacks Rank of 2 is a more conclusive fundamental indication of a potential turnaround.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAileron Therapeutics, Inc. (ALRN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Aileron Therapeutics, Inc. (ALRN) Could Find a Support Soon, Here's Why You Should Buy the Stock Now

https://finance.yahoo.com/news/aileron-therapeutics-inc-alrn-could-135501673.html

435c7202-bb45-3600-9f3e-8d6b924cffcb

ALRN

A downtrend has been apparent in Aileron Therapeutics, Inc. (ALRN) lately. While the stock has lost 10.3% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this company enhances its prospects of a trend reversal.1-month candlestick chart for ALRNUnderstanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Story continuesLike every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for ALRNThere has been an upward trend in earnings estimate revisions for ALRN lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 56.3% over the last 30 days. This means that the Wall Street analysts covering ALRN are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that ALRN currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, the Zacks Rank has proven to be an excellent timing indicator, helping investors identify precisely when a company's prospects are beginning to improve. So, for the shares of Aileron Therapeutics, Inc. a Zacks Rank of 2 is a more conclusive fundamental indication of a potential turnaround.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAileron Therapeutics, Inc. (ALRN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Bears are Losing Control Over Aileron Therapeutics, Inc. (ALRN), Here's Why It's a 'Buy' Now

https://finance.yahoo.com/news/bears-losing-control-over-aileron-135501874.html

50b15160-640b-3bcf-bc66-1deb54838d83

ALSN

Low-beta stocks can provide several beneficial advantages for portfolios, including stability, defensive qualities, and stabilization when combined with high-beta stocks, helping to provide a more balanced risk profile.And for those seeking a less volatile approach, three low-beta stocks – Arch Capital Group ACGL, Allison Transmission Holdings ALSN, and Dr. Reddy’s Laboratories RDY – could be considered. All three sport a favorable Zacks Rank, carry solid growth, and sport sound valuations.Let’s take a closer look at each.Arch Capital GroupArch Capital Group, a current Zacks Rank #1 (Strong Buy), writes insurance, reinsurance, and mortgage insurance worldwide. Earnings expectations have jumped higher across the board, reflecting optimism among analysts.Zacks Investment ResearchImage Source: Zacks Investment ResearchShares aren’t expensive given the company’s forecasted growth, with earnings forecasted to climb nearly 40% in its current year on 30% higher revenues. Shares currently trade at an 11.6X forward earnings multiple (F1), beneath the 12.6X five-year median and the respective Zacks – Insurance industry average.Zacks Investment ResearchImage Source: Zacks Investment ResearchIt’s worth noting that the company has been a consistent earnings performer, exceeding Zacks Consensus Estimates in five consecutive quarters. In its latest release in late July, ACGL penciled in a 16% EPS beat and posted a positive 2.3% revenue surprise.Allison Transmission HoldingsAllison Transmission is the largest producer of fully automatic transmissions for medium, heavy-duty commercial, and heavy-tactical U.S. defense vehicles. The company has seen positive earnings estimate revisions among all timeframes, landing it into a Zacks Rank #1 (Strong Buy).Zacks Investment ResearchImage Source: Zacks Investment ResearchALSN shares could also attract those who prefer income, currently yielding 1.6% annually. And the company has been committed to increasingly rewarding shareholders, sporting a 10% five-year annualized dividend growth rate.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchThe company’s current 8.4X forward earnings multiple certainly isn’t expensive, beneath the 9.5X five-year median and the 20.8X average of the Zacks – Autos/Tires/Trucks industry average. Allison Transmission is forecasted to see 25% EPS growth on 10% higher revenues in its current year.Dr. Reddy’s LaboratoriesDr. Reddy's Laboratories, a current Zacks Rank #1 (Strong Buy), is an integrated global pharmaceutical company engaged in providing affordable and innovative medicines. No different than those above, the company has enjoyed favorable earnings estimate revisions.Zacks Investment ResearchImage Source: Zacks Investment ResearchRDY shares presently trade at a 17.9X forward earnings multiple, reflecting a 41% discount relative to the Zacks – Drugs industry average and well below 2022 highs of 28.6X. The company is forecasted to see 15% EPS Growth paired with a 10% revenue bump in its current year (FY24).Zacks Investment ResearchImage Source: Zacks Investment ResearchLike ALSN, income-focused investors could find RDY shares attractive, with shares currently yielding a respectable 0.6% annually paired with a sustainable payout ratio sitting at 9% of the company’s earnings. The payout has grown by 3.6% annually over the last five years.Bottom LineLow-beta stocks can provide many beneficial advantages for investors, including a more defensive nature and overall portfolio balance.And for those seeking this approach, all three low-beta stocks above – Arch Capital Group ACGL, Allison Transmission Holdings ALSN, and Dr. Reddy’s Laboratories RDY – could be great considerations.All three sport a favorable Zacks Rank, carry sound valuation pictures, and sport solid growth profiles for their current and subsequent fiscal years.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDr. Reddy's Laboratories Ltd (RDY) : Free Stock Analysis ReportAllison Transmission Holdings, Inc. (ALSN) : Free Stock Analysis ReportArch Capital Group Ltd. (ACGL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

These 3 Low-Beta Stocks Sport High Growth

https://finance.yahoo.com/news/3-low-beta-stocks-sport-185100956.html

f2d7680f-c4a3-3bee-a5ab-59e85bc16785

ALSN

Allison Transmission (ALSN) closed the most recent trading day at $59.55, moving +1.88% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.Coming into today, shares of the automatic transmission maker had lost 0.48% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.7%, while the S&P 500 lost 1.27%.Allison Transmission will be looking to display strength as it nears its next earnings release. In that report, analysts expect Allison Transmission to post earnings of $1.71 per share. This would mark year-over-year growth of 17.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $757.05 million, up 6.63% from the year-ago period.ALSN's full-year Zacks Consensus Estimates are calling for earnings of $6.93 per share and revenue of $3.03 billion. These results would represent year-over-year changes of +25.32% and +9.42%, respectively.Investors might also notice recent changes to analyst estimates for Allison Transmission. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.04% higher. Allison Transmission currently has a Zacks Rank of #1 (Strong Buy).Looking at its valuation, Allison Transmission is holding a Forward P/E ratio of 8.43. This represents a discount compared to its industry's average Forward P/E of 15.05.Story continuesMeanwhile, ALSN's PEG ratio is currently 1.2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Original Equipment industry currently had an average PEG ratio of 0.74 as of yesterday's close.The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow ALSN in the coming trading sessions, be sure to utilize Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAllison Transmission Holdings, Inc. (ALSN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Allison Transmission (ALSN) Outpaces Stock Market Gains: What You Should Know

https://finance.yahoo.com/news/allison-transmission-alsn-outpaces-stock-220018533.html

7b70840d-8e09-36c9-8ed2-90be7dfbe9b8

ALTI

AlTi Global (NASDAQ:ALTI) Second Quarter 2023 ResultsKey Financial ResultsNet income: US$43.4m (up by US$43.4m from 2Q 2022).EPS: US$0.73.earnings-and-revenue-growthAll figures shown in the chart above are for the trailing 12 month (TTM) periodAlTi Global Earnings InsightsLooking ahead, revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Capital Markets industry in the US.Performance of the American Capital Markets industry.The company's shares are up 17% from a week ago.Risk AnalysisWe don't want to rain on the parade too much, but we did also find 4 warning signs for AlTi Global (3 shouldn't be ignored!) that you need to be mindful of.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

AlTi Global Reports Second Quarter 2023 Earnings

https://finance.yahoo.com/news/alti-global-reports-second-quarter-100301034.html

a633e9d1-f41f-342b-b45c-7cdfe80abb64

ALTI

NEW YORK, August 18, 2023--(BUSINESS WIRE)--AlTi Global, Inc. (NASDAQ: ALTI) ("AlTi" or the "Company"), a leading independent global wealth and asset manager, today announced that Michael Tiedemann, Chief Executive Officer, and Reid Parmelee, Global Controller and Interim Chief Financial Officer, will participate in and host meetings during the Barclays Global Financial Services Conference to be held at the New York Hilton Midtown in New York City September 11-13, 2023.About AlTiAlTi is a leading independent global wealth and asset manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. AlTi’s comprehensive offering is underscored by a commitment to impact or values-aligned investing and generating a net positive impact through its business activities. The firm currently manages or advises on approximately $69 billion in combined assets and has an expansive network with over 470 professionals across three continents. For more information, please visit us at www.Alti-global.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230818892532/en/ContactsLily ArteagaHead of Investor RelationsAlTi Global, [email protected]

Business Wire

AlTi Global, Inc. to Participate in Barclays Global Financial Services Conference

https://finance.yahoo.com/news/alti-global-inc-participate-barclays-132000355.html

059b9ecd-5748-3283-b633-287fdb216e7e

ALTR

Altair Engineering Inc.TROY, Mich., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence, today announced that James R. Scapa, chairman and chief executive officer, and Matt Brown, chief financial officer, will participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference on Thursday, September 7 at 8:10 a.m. PT (11:10 a.m. ET).A live webcast, as well as a replay, of the presentation will be available on the company’s investor relations website at http://investor.altair.com.About AltairAltair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.Media RelationsDave SimonAltair248-614-2400 ext. [email protected] RelationsThe Blueshirt GroupMonica [email protected]

GlobeNewswire

Altair to Present at the Goldman Sachs Communacopia + Technology Conference

https://finance.yahoo.com/news/altair-present-goldman-sachs-communacopia-200500921.html

1298c027-c4d6-3479-9333-d2160e471d4c

ALTR

Kookmin University team wins first prize for structure optimization for battery pack safety in eco-friendly carsTROY, Mich., Sept. 6, 2023 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), has named the winners of the 2023 Altair Optimization Contest (AOC). The first place winner was the Kookmin University team of Sungtaek Kim and Euichan Hwang. The Altair Optimization Contest is a software competition that has been held since 2008 to strengthen the software capabilities of Korean university students and discover outstanding talents.Kookmin University team won the first prize in the 2023 Altair Optimization ContestThis year, 125 applicants (81 teams) from 40 universities across the country applied, and a total of five teams made it to the final round after a fierce competition. Altair selected the final five winners based on their rationality, practicality, originality, applicability, and optimization results.In this contest, students of the Department of Automotive Engineering at Kookmin University, won the honorable first place. The team presented a case of optimizing a battery pack, a key component of an eco-friendly car. The team said they optimized the battery pack to provide an alternative to the phenomenon of battery thermal runaway, which is a major cause of fires as the electric vehicle(EV) industry has grown rapidly in recent years."It was great that while preparing for the contest, we were able to freely use FEM (Finite Element Method) software, which is fundamental to engineering, with the license provided by Altair," said the Kookmin University team. "In particular, by studying a lot about optimization, I was able to learn more than what I learned at school, so I hope many students will take on the challenge."Altair awarded a total of 2.4 million won in prize money and certificates to the five teams that advanced to the finals, including a gold prize of 1 million won, a silver prize of 500,000 won, and a bronze prize of 200,000 won.Story continues"We are happy to see a bright outlook for the future in the innovative proposals created by the students' passion and creativity," said Songsoo Moon, Senior Vice President, Asia Pacific, Altair. "Altair supports students who proactively solve problems and realize innovative ideas. We look forward to creating a better future together."The complete list of winners is below.1st Prize (GOLD)Kookmin University: Sungtack Kim, Euichan Hwang2nd Prize (SILVER)Konkuk University: Jaekyung Ko, Youngwoo JangKonkuk University: Byungho Kang, Cheonha Park3rd Prize (BRONZE)Dongguk University: Jinho Kim, Younghoon LeeChangwon National University: Minseong ChoAbout AltairAltair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. For more information, visit https://www.altair.com/.Media contactsAltair Corporate                                                Jennifer Ristic+1.216.849.3109                                              [email protected] - https://mma.prnewswire.com/media/2201978/ALTAIR_Kookmin_University.jpg Logo - https://mma.prnewswire.com/media/1421069/4255361/Altair_Logo.jpg CisionView original content:https://www.prnewswire.com/apac/news-releases/altair-announces-winners-of-2023-altair-optimization-contest-301918183.htmlSOURCE Altair

PR Newswire

Altair Announces Winners of 2023 Altair Optimization Contest

https://finance.yahoo.com/news/altair-announces-winners-2023-altair-230000326.html

01313dad-559f-3716-893e-85332a1bc520

ALV

STOCKHOLM, Aug. 21, 2023 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV) (SSE: ALIV.sdb), the worldwide leader in automotive safety systems, today announced that its Board of Directors has declared a quarterly dividend of 66 cents for the third quarter of 2023.The dividend will be payable on Friday, September 22, 2023 to Autoliv shareholders of record on the close of business on Thursday, September 7. The ex-date will be Wednesday, September 6, for holders of common stock listed on the New York Stock Exchange (NYSE) as well as for holders of Swedish Depository Receipts (SDRs) listed on Nasdaq Stockholm.Inquiries:  Investors & Analysts: Anders Trapp, Tel +46 (0)8 587 206 71Investors & Analysts: Henrik Kaar, Tel +46 (0)8 587 206 14Media: Gabriella Etemad, Tel +46 (0)8 587 206 02This information is information that Autoliv, Inc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 2:15 pm CET on August 21, 2023.About AutolivAutoliv, Inc. (NYSE: ALV; Nasdaq Stockholm: ALIV.sdb) is the worldwide leader in automotive safety systems. Through our group companies, we develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels for all major automotive manufacturers in the world as well as mobility safety solutions, such as pedestrian protection, connected safety services and safety solutions for riders of powered two wheelers. At Autoliv, we challenge and re-define the standards of mobility safety to sustainably deliver leading solutions. In 2022, our products saved close to 35,000 lives and reduced more than 450,000 injuries. Our close to 70,000 associates in 27 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We drive innovation, research, and development at our 14 technical centers, with their 20 test tracks. Sales in 2022 amounted to US $ 8.8 billion. For more information go to www.autoliv.com.Story continuesSafe Harbor StatementThis report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.The following files are available for download:https://mb.cision.com/Main/751/3820739/2238378.pdfALV_Dividend Q3 2023 CisionView original content:https://www.prnewswire.com/apac/news-releases/autoliv-declares-quarterly-dividend-301905653.htmlSOURCE Autoliv

PR Newswire

Autoliv Declares Quarterly Dividend

https://finance.yahoo.com/news/autoliv-declares-quarterly-dividend-134800376.html

2daea65c-8b20-309c-bfee-b3cab9f7bbc6

ALV

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.Why Investors Should Pay Attention to This Value StockFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to highlight the most attractive and discounted stocks.Autoliv, Inc. (ALV)Based in Stockholm, Autoliv is a holding company that operates through two principal subsidiaries — Autoliv AB and Autoliv ASP.  Autoliv was born from the 1997 merger of Swedish firm Autoliv AB and U.S. firm Morton ASP. On Jun 29, 2018, Autoliv completed the spin-off of its Electronics business to Veoneer, Inc. Following the completion of the spin-off, the company has been focused on occupant safety products.ALV boasts a Value Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Autoliv, Inc. are trading at a forward earnings multiple of 14.9X, as well as a PEG Ratio of 0.5, a Price/Cash Flow ratio of 11.5X, and a Price/Sales ratio of 0.9X.Many value investors pay close attention to a company's earnings as well. For ALV, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.29 to $6.65 per share for 2023. Per share ALV boasts an average earnings surprise of 11.3%.Investors should take the time to consider ALV for their portfolios due to its solid Zacks Ranks, notable earnings and valuation metrics, and impressive Value and VGM Style Scores.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAutoliv, Inc. (ALV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Autoliv, Inc. (ALV) is a Top Value Stock for the Long-Term

https://finance.yahoo.com/news/why-autoliv-inc-alv-top-134007706.html

123f00e1-0fd2-373a-8236-53e4bf994edc

AM

DENVER, July 26, 2023 /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced its second quarter 2023 financial and operational results. The relevant unaudited condensed consolidated financial statements are included in Antero Midstream's Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.Antero Midstream Logo (PRNewsfoto/Antero Midstream)Second Quarter 2023 Highlights:Gathering and compression volumes increased by 11% and 17%, respectively, compared to the prior year quarterNet Income was $87 million, or $0.18 per diluted share, a 6% per share increase compared to the prior year quarterAdjusted Net Income was $105 million, or $0.22 per diluted share, a 10% per share increase compared to the prior year quarter (non-GAAP measure)Adjusted EBITDA was $243 million, a 10% increase compared to the prior year quarter (non-GAAP measure)Capital expenditures were $49 million, a 31% decrease compared to the prior year quarterFree Cash Flow before dividends was $139 million, a 31% increase compared to the prior year quarter (non-GAAP measure)Free Cash Flow after dividends was $31 million compared to a $2 million deficit in the prior year quarter (non-GAAP measure)Paul Rady, Chairman and CEO said, "Antero Midstream delivered another strong quarter operationally and financially, driven by double-digit year-over-year throughput growth. This resulted in 10% year-over-year Adjusted EBITDA growth, and more importantly, our fourth straight quarter of generating Free Cash Flow after dividends."Brendan Krueger, CFO of Antero Midstream, said "Year-to-date Antero Midstream has executed on its strategy to pay down absolute debt and reduce leverage to 3.5x at the end of the second quarter. These second quarter results position us well to achieve our 2023 guidance and continue our progress towards our leverage target of 3.0x or less in 2024."For a discussion of the non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, Leverage, and Free Cash Flow before and after dividends please see "Non-GAAP Financial Measures."Story continuesSecond Quarter 2023 Financial ResultsLow pressure gathering volumes for the second quarter of 2023 averaged 3,304 MMcf/d, an 11% increase as compared to the prior year quarter.  Low pressure gathering volumes subject to the growth incentive fee were in excess of the threshold target of 2,900 MMcf/d, resulting in a $12 million rebate to Antero Resources. Compression volumes for the second quarter of 2023 averaged 3,251 MMcf/d, a 17% increase compared to the prior year quarter.  High pressure gathering volumes averaged 2,922 MMcf/d, a 4% increase compared to the prior year quarter. Fresh water delivery volumes averaged 105 MBbl/d during the quarter, a 5% decrease compared to the second quarter of 2022.Gross processing volumes from the processing and fractionation joint venture with MLPX, LP ("Joint Venture") averaged 1,600 MMcf/d for the second quarter of 2023, a 10% increase compared to the prior year quarter.  Joint Venture processing capacity was 100% utilized during the quarter based on nameplate processing capacity of 1.6 Bcf/d.  Gross Joint Venture fractionation volumes averaged 39 MBbl/d, a 5% increase compared to the prior year quarter. Joint Venture fractionation capacity was 98% utilized during the quarter based on nameplate fractionation capacity of 40 MBbl/d.Three Months EndedJune 30,Average Daily Volumes:20222023% Change     Low Pressure Gathering (MMcf/d)  2,9703,30411 %     Compression (MMcf/d) 2,7763,25117 %     High Pressure Gathering (MMcf/d)  2,8192,9224 %     Fresh Water Delivery (MBbl/d)  110105(5) %     Gross Joint Venture Processing (MMcf/d)  1,4581,60010 %     Gross Joint Venture Fractionation (MBbl/d)  37395 %For the three months ended June 30, 2023, revenues were $258 million, comprised of $202 million from the Gathering and Processing segment and $56 million from the Water Handling segment, net of $18 million of amortization of customer relationships.  Water Handling revenues include $24 million from wastewater handling and high rate water transfer services.Direct operating expenses for the Gathering and Processing and Water Handling segments were $25 million and $28 million, respectively. Water Handling operating expenses include $23 million from wastewater handling and high rate water transfer services. General and administrative expenses excluding equity-based compensation were $10 million during the second quarter of 2023.  Total operating expenses during the second quarter of 2023 included $35 million of depreciation, $8 million of equity-based compensation expense, and a $6 million loss on asset sale.Net Income was $87 million, or $0.18 per diluted share, a 6% per share increase compared to the prior year quarter.  Net Income adjusted for amortization of customer relationships, impairment of property and equipment, loss on settlement of asset retirement obligations and loss (gain) on asset sale, net of tax effects of reconciling items, or Adjusted Net Income, was $105 million. Adjusted Net Income was $0.22 per share, a 10% per share increase compared to the prior year quarter.The following table reconciles Net Income to Adjusted Net Income (in thousands):Three Months EndedJune 30,20222023Net Income$79,39587,012Amortization of customer relationships17,66817,668Impairment of property and equipment3,702—Loss on settlement of asset retirement obligations539279Loss (gain) on asset sale(32)5,814Tax effect of reconciling items(1)(5,636)(6,109)Adjusted Net Income$95,636104,664(1)The statutory tax rates for the three months ended June 30, 2022 and 2023 were 25.8% and 25.7%, respectively.Adjusted EBITDA was $243 million, a 10% increase compared to the prior year quarter. Interest expense was $55 million, a 22% increase compared to the prior year quarter. Capital expenditures were $49 million, a 31% decrease compared to the prior year quarter.  Free Cash Flow before dividends was $139 million, a 31% increase compared to the prior year quarter. Free Cash Flow after dividends was $31 million compared to a $2 million deficit in the prior year quarter.The following table reconciles Net Income to Adjusted EBITDA and Free Cash Flow before and after dividends (in thousands):Three Months EndedJune 30,20222023Net Income$79,39587,012Interest expense, net45,42655,388Income tax expense26,39929,095Depreciation expense35,67535,233Amortization of customer relationships17,66817,668Impairment of property and equipment3,702—Loss (gain) on asset sale(32)5,814Accretion of asset retirement obligations6444Loss on settlement of asset retirement obligations539279Equity-based compensation5,6418,499Equity in earnings of unconsolidated affiliates(22,824)(25,972)Distributions from unconsolidated affiliates29,37529,465Adjusted EBITDA$221,028242,525Interest expense, net(45,426)(55,388)Capital expenditures (accrual-based)(70,201)(48,584)Free Cash Flow before dividends$105,401138,553Dividends declared (accrual-based)(107,654)(107,927)Free Cash Flow after dividends$(2,253)30,626The following table reconciles net cash provided by operating activities to Free Cash Flow before and after dividends (in thousands):Three Months EndedJune 30,20222023Net cash provided by operating activities$169,517185,586Amortization of deferred financing costs(1,418)(1,483)Settlement of asset retirement obligations461537Changes in working capital7,0422,497Capital expenditures (accrual-based)(70,201)(48,584)Free Cash Flow before dividends$105,401138,553Dividends declared (accrual-based)(107,654)(107,927)Free Cash Flow after dividends$(2,253)30,626Second Quarter 2023 Operating UpdateGathering and Processing — During the second quarter of 2023, Antero Midstream connected 26 wells to its gathering system.Water Handling— Antero Midstream's water delivery systems serviced 23 well completions during the second quarter of 2023.Capital InvestmentsAccrued capital expenditures were $49 million during the second quarter of 2023. The company invested $35 million in gathering and compression and $14 million in water infrastructure primarily in the liquids-rich midstream corridor of the Marcellus Shale.Conference CallA conference call is scheduled on Thursday, July 27, 2023 at 10:00 am MT to discuss the financial and operational results.  A brief Q&A session for security analysts will immediately follow the discussion of the results.  To participate in the call, dial in at 877-407-9126 (U.S.), or 201-493-6751 (International) and reference "Antero Midstream."  A telephone replay of the call will be available until Thursday, August 3, 2023 at 10:00 am MT at 877-660-6853 (U.S.) or 201-612-7415 (International) using the conference ID: 13740087. To access the live webcast and view the related earnings conference call presentation, visit Antero Midstream's website at www.anteromidstream.com.  The webcast will be archived for replay until Thursday, August 3, 2023 at 10:00 am MT.PresentationAn updated presentation will be posted to the Company's website before the conference call. The presentation can be found at www.anteromidstream.com on the homepage. Information on the Company's website does not constitute a portion of, and is not incorporated by reference into this press release.Non-GAAP Financial Measures and DefinitionsAntero Midstream uses certain non-GAAP financial measures. Antero Midstream defines Adjusted Net Income as Net Income plus amortization of customer relationships, impairment of property and equipment, loss on settlement of asset retirement obligations, and loss (gain) on asset sale, net of tax effect of reconciling items. Antero Midstream uses Adjusted Net Income to assess the operating performance of its assets. Antero Midstream defines Adjusted EBITDA as Net Income plus interest expense, net, income tax expense, depreciation expense, impairment of property and equipment, amortization of customer relationships, loss on settlement of asset retirement obligations, loss (gain) on asset sale, accretion of asset retirement obligations, and equity-based compensation expense, excluding equity in earnings of unconsolidated affiliates, plus distributions from unconsolidated affiliates.Antero Midstream uses Adjusted EBITDA to assess:the financial performance of Antero Midstream's assets, without regard to financing methods, capital structure or historical cost basis;its operating performance and return on capital as compared to other publicly traded companies in the midstream energy sector, without regard to financing or capital structure; andthe viability of acquisitions and other capital expenditure projects.Antero Midstream defines Free Cash Flow before dividends as Adjusted EBITDA less interest expense, net and accrual-based capital expenditures. Capital expenditures include additions to gathering systems and facilities, additions to water handling systems, and investments in unconsolidated affiliates. Capital expenditures exclude acquisitions. Free Cash Flow after dividends is defined as Free Cash Flow before dividends less accrual-based dividends declared for the quarter. Antero Midstream uses Free Cash Flow before and after dividends as a performance metric to compare the cash generating performance of Antero Midstream from period to period.Adjusted EBITDA, Adjusted Net Income, and Free Cash Flow before and after dividends are non-GAAP financial measures.  The GAAP measure most directly comparable to these measures is Net Income. Such non-GAAP financial measures should not be considered as alternatives to the GAAP measures of Net Income and cash flows provided by (used in) operating activities.  The presentations of such measures are not made in accordance with GAAP and have important limitations as analytical tools because they include some, but not all, items that affect Net Income and cash flows provided by (used in) operating activities.  You should not consider any or all such measures in isolation or as a substitute for analyses of results as reported under GAAP.  Antero Midstream's definitions of such measures may not be comparable to similarly titled measures of other companies.The following table reconciles cash paid for capital expenditures and accrued capital expenditures during the period (in thousands):Three Months EndedJune 30,20222023Capital expenditures (as reported on a cash basis)$(77,767)(42,044)Change in accrued capital costs7,566(6,540)Capital expenditures (accrual basis)$(70,201)(48,584)Antero Midstream defines Net Debt as consolidated total debt, excluding unamortized debt premiums and debt issuance costs, less cash and cash equivalents. Antero Midstream views Net Debt as an important indicator in evaluating Antero Midstream's financial leverage. Antero Midstream defines leverage as Net Debt divided by Adjusted EBITDA for the last twelve months. The GAAP measure most directly comparable to Net Debt is total debt, excluding unamortized debt premiums and debt issuance costs.The following table reconciles consolidated total debt to consolidated net debt, excluding debt premiums and issuance costs, ("Net Debt") as used in this release (in thousands):June 30, 2023Bank credit facility$725,5007.875% senior notes due 2026550,0005.75% senior notes due 2027650,0005.75% senior notes due 2028650,0005.375% senior notes due 2029750,000Consolidated total debt$3,325,500Cash and cash equivalents—Consolidated net debt$3,325,500 The following table reconciles Net Income to Adjusted EBITDA for the last twelve months as used in this release (in thousands):Twelve Months Ended June 30, 2023Net Income$340,326Interest expense, net210,255Income tax expense123,793Depreciation expense138,216Amortization of customer relationships70,672Accretion of asset retirement obligations182Equity-based compensation26,007Equity in earnings of unconsolidated affiliates(98,590)Distributions from unconsolidated affiliates123,525Loss on settlement of asset retirement obligation620Loss on asset sale3,468Adjusted EBITDA$938,474Antero Midstream Corporation is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in the Appalachian Basin, as well as integrated water assets that primarily service Antero Resources Corporation's properties. This release includes "forward-looking statements." Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Midstream's control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments Antero Midstream expects, believes or anticipates will or may occur in the future, such as statements regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management, Antero Midstream's ability to realize the benefits of the Marcellus bolt-on acquisition, including the anticipated capital avoidance and synergies, Antero Midstream's ability to execute its business plan and return capital to its stockholders, information regarding Antero Midstream's return of capital policy, information regarding long-term financial and operating outlooks for Antero Midstream and Antero Resources, information regarding Antero Resources' expected future growth and its ability to meet its drilling and development plan and the participation level of Antero Resources' drilling partner, the impact on demand for Antero Midstream's services as a result of incremental production by Antero Resources, and expectations regarding the amount and timing of litigation awards are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements speak only as of the date of this release. Although Antero Midstream believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Midstream expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.Antero Midstream cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to our business, most of which are difficult to predict and many of which are beyond Antero Midstream's control. These risks include, but are not limited to, commodity price volatility, inflation, supply chain or other disruptions, environmental risks, Antero Resources' drilling and completion and other operating risks, regulatory changes or changes in law, the uncertainty inherent in projecting Antero Resources' future rates of production, cash flows and access to capital, the timing of development expenditures, impacts of  world health events, cybersecurity risks, the state of markets for and availability of verified quality carbon offsets and the other risks described under the heading "Item 1A. Risk Factors" in Antero Midstream's Annual Report on Form 10-K for the year ended December 31, 2022 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.ANTERO MIDSTREAM CORPORATIONCondensed Consolidated Balance Sheets (In thousands, except per share amounts)(Unaudited)December 31,June 30,20222023AssetsCurrent assets:Accounts receivable–Antero Resources$86,15291,621Accounts receivable–third party575550Income tax receivable940940Other current assets1,326795Total current assets88,99393,906Property and equipment, net3,751,4313,756,496Investments in unconsolidated affiliates652,767639,887Customer relationships1,286,1031,250,767Other assets, net12,02611,827Total assets$5,791,3205,752,883Liabilities and Stockholders' EquityCurrent liabilities:Accounts payable–Antero Resources$5,4362,921Accounts payable–third party22,86517,947Accrued liabilities72,71574,924Other current liabilities1,061817Total current liabilities102,07796,609Long-term liabilities:Long-term debt3,361,2823,306,667Deferred income tax liability131,215191,979Other4,4284,589Total liabilities3,599,0023,599,844Stockholders' equity:Preferred stock, $0.01 par value: 100,000 authorized as of December 31, 2022 and June 30,      2023Series A non-voting perpetual preferred stock; 12 designated and 10 issued and      outstanding as of December 31, 2022 and June 30, 2023——Common stock, $0.01 par value; 2,000,000 authorized; 478,497 and 479,656 issued and      outstanding as of December 31, 2022 and June 30, 2023, respectively4,7854,797Additional paid-in capital2,104,7402,061,230Retained earnings82,79387,012Total stockholders' equity2,192,3182,153,039Total liabilities and stockholders' equity$5,791,3205,752,883 ANTERO MIDSTREAM CORPORATIONCondensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)(In thousands, except per share amounts)Three Months Ended June 30, 20222023Revenue:Gathering and compression–Antero Resources$184,071211,068Water handling–Antero Resources62,26264,613Water handling–third party242274Amortization of customer relationships(17,668)(17,668)Total revenue228,907258,287Operating expenses:Direct operating43,29952,595General and administrative (including $5,641 and $8,499 of equity-based compensation in      2022 and 2023, respectively)16,07918,162Facility idling1,185637Depreciation35,67535,233Impairment of property and equipment3,702—Accretion of asset retirement obligations6444Loss on settlement of asset retirement obligations539279Loss (gain) on asset sale(32)5,814Total operating expenses100,511112,764Operating income128,396145,523Other income (expense):Interest expense, net(45,426)(55,388)Equity in earnings of unconsolidated affiliates22,82425,972Total other expense(22,602)(29,416)Income before income taxes105,794116,107Income tax expense(26,399)(29,095)Net income and comprehensive income$79,39587,012Net income per share–basic$0.170.18Net income per share–diluted$0.170.18Weighted average common shares outstanding:Basic478,317479,502Diluted480,270481,512 ANTERO MIDSTREAM CORPORATIONSelected Operating Data (Unaudited)Three Months EndedAmount ofJune 30, IncreasePercentage20222023or DecreaseChangeOperating Data:Gathering—low pressure (MMcf)270,302300,70630,40411%Compression (MMcf)252,644295,80143,15717%Gathering—high pressure (MMcf)256,537265,8909,3534%Fresh water delivery (MBbl)10,0489,585(463)(5)%Other fluid handling (MBbl)4,1284,95382520%Wells serviced by fresh water delivery1523853%Gathering—low pressure (MMcf/d)2,9703,30433411%Compression (MMcf/d)2,7763,25147517%Gathering—high pressure (MMcf/d)2,8192,9221034%Fresh water delivery (MBbl/d)110105(5)(5)%Other fluid handling (MBbl/d)4554920%Average Realized Fees:Average gathering—low pressure fee ($/Mcf)$0.340.350.013%Average compression fee ($/Mcf)$0.210.21—*Average gathering—high pressure fee ($/Mcf)$0.210.21—*Average fresh water delivery fee ($/Bbl)$4.094.210.123%Joint Venture Operating Data:Processing—Joint Venture (MMcf)132,664145,64512,98110%Fractionation—Joint Venture (MBbl)3,3683,5531855%Processing—Joint Venture (MMcf/d)1,4581,60014210%Fractionation—Joint Venture (MBbl/d)373925%  * Not meaningful or applicable. ANTERO MIDSTREAM CORPORATION Condensed Consolidated Results of Segment Operations (Unaudited)(In thousands)Three Months Ended June 30, 2023Gathering andWaterConsolidatedProcessingHandlingUnallocatedTotalRevenues:Revenue–Antero Resources$223,06864,613—287,681Revenue–third-party—274—274Gathering—low pressure fee rebate(12,000)——(12,000)Amortization of customer relationships(9,272)(8,396)—(17,668)Total revenues201,79656,491—258,287Operating expenses:Direct operating25,15427,441—52,595General and administrative (excluding equity-based      compensation)5,1262,8321,7059,663Equity-based compensation6,2442,0292268,499Facility idling—637—637Depreciation22,19613,037—35,233Accretion of asset retirement obligations—44—44Loss on settlement of asset retirement obligations—279—279Loss on asset sale5,814——5,814Total operating expenses64,53446,2991,931112,764Operating income137,26210,192(1,931)145,523Other income (expense):Interest expense, net——(55,388)(55,388)Equity in earnings of unconsolidated affiliates25,972——25,972Total other income (expense)25,972—(55,388)(29,416)Income before income taxes163,23410,192(57,319)116,107Income tax expense——(29,095)(29,095)Net income and comprehensive income$163,23410,192(86,414)87,012Adjusted EBITDA$242,525 ANTERO MIDSTREAM CORPORATIONCondensed Consolidated Statements of Cash Flows (Unaudited)(In thousands)Six Months Ended June 30, 20222023Cash flows provided by (used in) operating activities:Net income$159,435173,519Adjustments to reconcile net income to net cash provided by operating activities:Depreciation63,97570,429Accretion of asset retirement obligations12888Impairment of property and equipment3,702—Deferred income tax expense54,46660,765Equity-based compensation8,47314,826Equity in earnings of unconsolidated affiliates(46,056)(50,428)Distributions from unconsolidated affiliates60,50563,570Amortization of customer relationships35,33635,336Amortization of deferred financing costs2,8282,957Settlement of asset retirement obligations(916)(695)Loss on settlement of asset retirement obligations539620Loss (gain) on asset sale(150)5,569Changes in assets and liabilities:Accounts receivable–Antero Resources6,099(5,470)Accounts receivable–third party517481Other current assets158(800)Accounts payable–Antero Resources(2,427)(2,515)Accounts payable–third party9,480(889)Accrued liabilities(1,911)942Net cash provided by operating activities354,181368,305Cash flows provided by (used in) investing activities:Additions to gathering systems and facilities(131,665)(59,156)Additions to water handling systems(30,369)(25,583)Investments in unconsolidated affiliates—(262)Acquisition of gathering systems and facilities—(266)Cash received in asset sales1471,071Change in other assets—(15)Change in other liabilities(805)—Net cash used in investing activities(162,692)(84,211)Cash flows provided by (used in) financing activities:Dividends to common stockholders(217,445)(218,971)Dividends to preferred stockholders(275)(275)Payments of deferred financing costs(302)—Borrowings (repayments) on bank credit facilities, net33,300(56,500)Employee tax withholding for settlement of equity compensation awards(6,767)(8,348)Net cash used in financing activities(191,489)(284,094)Net increase in cash and cash equivalents——Cash and cash equivalents, beginning of period——Cash and cash equivalents, end of period$——Supplemental disclosure of cash flow information:Cash paid during the period for interest$86,688107,607Increase (decrease) in accrued capital expenditures and accounts payable for property and      equipment$2,822(2,814) CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/antero-midstream-announces-second-quarter-2023-financial-and-operational-results-301886730.htmlSOURCE Antero Midstream Corporation

PR Newswire

Antero Midstream Announces Second Quarter 2023 Financial and Operational Results

https://finance.yahoo.com/news/antero-midstream-announces-second-quarter-201500530.html

578a0972-3d04-3d9b-ba24-98de5cb38a62

AM

If history is any guide, buying dividend stocks is the best thing you can do with your cash. Income-generating stocks outperform those that don’t pay a dividend by a wide margin.JPMorgan Chase (NYSE:JPM) analysts found that stocks that initiated and then raised their payouts over a 40-year period between 1972 and 2012 returned an average of 9.5% annually, compared to a 1.6% return for non-payers.Over rolling three-year periods, the top high-yield stocks to buy for annual income beat the low- and non-dividend-yielding securities about two-thirds of the time.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat was underscored by Hartford Financial Services (NYSE:HIG), which similarly found dividends contributed 40% to the total return of the benchmark S&P 500 going all the way back to 1930. There was not a single decade where the index’s dividend stocks did not produce a positive return.While chasing yield is a risky proposition because higher yields often come with higher risk, here are three high-yield dividend stocks to consider buying right now.Antero Midstream (AM)Several natural gas tanks with a sunrise in the backgroundSource: OlegRi / ShutterstockNatural gas leader Antero Midstream (NYSE:AM) is a midstream operator. That means it owns gathering pipelines, compressor stations and processing and fractionation plants, which separate hydrocarbon mixtures from natural gas into individual products.Its primary customer is Antero Resources (NYSE:AR), which is an independent oil and gas company and partial owner of Antero Midstream.For the past half dozen years the pipeline operator has been a horrible investment. You would have lost nearly your initial investment in the stock. It reiterates the point of not simply buying a stock because it sports a high yield. So why buy now?Part of Antero’s problem has been the disincentives for oil and gas companies to perform new exploration and drilling. Antero also carries a heavy debt load. At the end of June it had $3.3 billion worth on its balance sheet.Story continuesBut the midstream stock completed its capital spending program and expenditures were 31% lower in the second quarter. That follows a 64% decline in the first. That should allow Antero to transition to generating consistent free cash flow after dividends. The stock currently yields 7.6% annually.Buying a little less than 850 shares in Antero would result in generating $750 a year in dividend income. With long-term, fixed-fee contracts on its assets, though, Antero Midstream should have a stable financial future.Franklin Resources (BEN)A magnifying glass zooms in on the website for Franklin Resources (BEN).Source: Pavel Kapysh / Shutterstock.comYou probably better know Franklin Resources (NYSE:BEN) as the owner of the Franklin Templeton family of mutual funds. It’s one of the world’s largest investment managers with $1.4 trillion in assets under management (AUM) globally. They’re split fairly equally between retail and institutional investors. High net worth individuals comprise 1% of the client base.Franklin is on a multi-year diversification journey. Investment management fees make up the bulk of its revenue, but it is transitioning towards new revenue streams. That should help limit the impact market fluctuations have on its financial results. It’s reflected in the second quarter report. Multi-class assets rose 2.8%, alternative assets increased marginally sequentially, and it ended up generating positive net inflows.The asset manager is also making strategic acquisitions to further diversify itself. It established a long-term partnership with Power Corporation of Canada (OTCMKTS:PWCDF) and Great-West Lifeco (OTCMKTS:GWLIF), which also includes its acquisition of Putnam Investment. That will bring in an additional $136 billion worth of AUM.Franklin Resources is a Dividend Aristocrat. It raised its payout to $0.30 per share last year, the 42nd straight year of increasing its dividend. The investment manager yields 4.6% annually. It would mean buying 625 shares of the investment manager to generate $750 in annual income.Bank of America (BAC)The logo of Bank of America (BAC) in modern office building in Beverly Hills, CaliforniaSource: Tero Vesalainen/ShutterstockBank of America (NYSE:BAC) is one of the largest bank stocks in the U.S. It’s only getting bigger. Rising interest rates are causing depositors to worry whether their local and regional banks are sound enough to survive. After Silicon Valley Bank and Signature Bank (OTCMKTS:SBNY) declared bankruptcy, depositors began putting their money in large, stable banks like Bank of America.The higher interest rates, however, gives the financial institution the power to charge more for loans, increasing profits. But it’s a delicate balancing act.Because banking is fairly cyclical, or one that at least runs with the economy, recessions can cause loan delinquencies to rise and losses to widen. Rising interest rates could throw the economy off course.Bank of America seems fine. It also looks cheap, and is cheap. While such financial institutions are not known for trading at earnings premiums, it’s better to look at how the market sees their book value. For Bank of America, it’s trading at 90% of its book value, meaning it is offering investors a discount. Wells Fargo (NYSE:WFC) goes for 96% of BV while Citi (NYSE:C), just 42%.The flagship bank’s dividend also yields a healthy 3.4% annually. You would need to buy approximately 780 shares of Bank of America to generate $750 in annual income.On the date of publication, Rich Duprey held a LONG position in BEN stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets.More From InvestorPlaceMusk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.ChatGPT IPO Could Shock the World, Make This Move Before the AnnouncementIt doesn’t matter if you have $500 or $5 million. Do this now.The post Easy Money? 3 High-Yield Stocks to Buy for an Extra $750 a Year appeared first on InvestorPlace.

InvestorPlace

Easy Money? 3 High-Yield Stocks to Buy for an Extra $750 a Year

https://finance.yahoo.com/news/easy-money-3-high-yield-193224438.html

79ef20b4-7965-33a2-838b-08def305e7d3

AMAT

Applied Materials, Inc.SANTA CLARA, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its Board of Directors has approved a quarterly cash dividend of $0.32 per share payable on the company’s common stock. The dividend is payable on Dec. 14, 2023 to shareholders of record as of Nov. 24, 2023.The quarterly cash dividend is a key component of Applied’s capital allocation strategy. In the third quarter of fiscal 2023, Applied distributed $707 million to shareholders through dividends and share repurchases. The company had approximately $13.4 billion remaining in its share buyback authorization at the end of that period.About Applied MaterialsApplied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.Contact:Ricky Gradwohl (editorial/media) 408.235.4676Michael Sullivan (financial community) 408.986.7977

GlobeNewswire

Applied Materials Announces Cash Dividend

https://finance.yahoo.com/news/applied-materials-announces-cash-dividend-201000197.html

29dbfcaa-3838-30d7-98be-8cceee0b5125

AMAT

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Applied Materials (AMAT) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Applied Materials currently has an average brokerage recommendation (ABR) of 1.85, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 26 brokerage firms. An ABR of 1.85 approximates between Strong Buy and Buy.Of the 26 recommendations that derive the current ABR, 16 are Strong Buy, representing 61.5% of all recommendations.Brokerage Recommendation Trends for AMATBroker Rating Breakdown Chart for AMATCheck price target & stock forecast for Applied Materials here>>>While the ABR calls for buying Applied Materials, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near -term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.Story continuesABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.Should You Invest in AMAT?Looking at the earnings estimate revisions for Applied Materials, the Zacks Consensus Estimate for the current year has increased 6.9% over the past month to $7.85.Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Applied Materials. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Therefore, the Buy-equivalent ABR for Applied Materials may serve as a useful guide for investors.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportApplied Materials, Inc. (AMAT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Should You Invest in Applied Materials (AMAT) Based on Bullish Wall Street Views?

https://finance.yahoo.com/news/invest-applied-materials-amat-based-133005426.html

c16d450e-9e1f-30e0-9402-4ec5fce9d417

AMBC

Ambac Financial Group (AMBC) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of a loss of $0.06 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 216.67%. A quarter ago, it was expected that this bond insurer would post a loss of $0.37 per share when it actually produced a loss of $0.30, delivering a surprise of 18.92%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Ambac , which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $62 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 27.05%. This compares to year-ago revenues of $86 million. The company has topped consensus revenue estimates just once over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Ambac shares have lost about 19.4% since the beginning of the year versus the S&P 500's gain of 16.6%.What's Next for Ambac?While Ambac has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Story continuesAhead of this earnings release, the estimate revisions trend for Ambac: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.05 on $51.1 million in revenues for the coming quarter and -$0.40 on $210.7 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Property and Casualty is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the same industry, FNF Group (FNF), is yet to report results for the quarter ended June 2023. The results are expected to be released on August 8.This provider of title insurance and mortgage services is expected to post quarterly earnings of $1.04 per share in its upcoming report, which represents a year-over-year change of -45.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.FNF Group's revenues are expected to be $2.7 billion, up 2.7% from the year-ago quarter.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAmbac Financial Group, Inc. (AMBC) : Free Stock Analysis ReportFidelity National Financial, Inc. (FNF) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Ambac Financial Group (AMBC) Q2 Earnings and Revenues Surpass Estimates

https://finance.yahoo.com/news/ambac-financial-group-ambc-q2-215010505.html

b284ef75-a671-3005-9e27-e331d9f23f3b

AMBC

ParticipantsCharles Joseph Sebaski; MD & Head of Investor Relation; Ambac Financial Group, Inc.Claude L. LeBlanc; President, CEO & Director; Ambac Financial Group, Inc.David Trick; Executive VP, CFO & Treasurer; Ambac Financial Group, Inc.Geoffrey Murray Dunn; Partner; Dowling & Partners Securities, LLCGiuliano Jude Anderes Bologna; Research Analyst; Compass Point Research & Trading, LLC, Research DivisionPresentationOperatorGreetings, and welcome to the Ambac Financial Group, Inc. Second Quarter 2023 Earnings Call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to turn the call over to Charles Sebaski, Head of Investor Relations. Please go ahead.Charles Joseph SebaskiThank you. Good morning, and welcome to Ambac's second quarter 2023 call to discuss financial results. Speaking today will be Claude LeBlanc, President and CEO; and David Trick, Chief Financial Officer. They will discuss the financial results of our business and the current market environment. And after prepared remarks, we'll take your questions. For those of you following along on the webcast, during prepared remarks, we will be highlighting some slides from the investor presentation, which can be located on our website. Our call today includes forward-looking statements. The company cautions investors that any forward-looking statements involve risks and uncertainties and is not a guarantee of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. These factors are described in the forward-looking statements in our earnings press release and our most recent 10-Q and 10-K filed with the SEC. We do not undertake any obligation to update forward-looking statements. Also in our prepared remarks or responses to questions, we may mention some non-GAAP financial measures. Reconciliations to those non-GAAP measures are included in our recent earnings press release, operating supplement and other materials available in the Investors section on our website, ambac.com. I would now like to turn the call over to Mr. Claude LeBlanc.Story continuesClaude L. LeBlancThank you, Chuck, and welcome to everyone joining today's call. During the second quarter, we continued to make material progress in advancing the strategic review of our Legacy Financial Guarantee business, in addition to significantly progressing the development and growth of our core Specialty P&C business. With respect to our legacy business, working with our Wisconsin regulator, we believe we have made significant progress towards the finalization of a new capital and operating framework for AAC. The ultimate timing and determinations for the framework remain in the hands of our regulator, the OCI. However, based on the significant progress made to date, we have already commenced the evaluation of certain strategic options. During the quarter, we initiated discussions with a number of key stakeholders in order to begin preliminary evaluations. We also progressed other key strategic initiatives focused on the derisking of our platform and further improving our economic and regulatory capital. I will provide more details on these initiatives in a moment. As previously mentioned, our strategic options are not mutually exclusive, and we are evaluating all options on both the time and risk-adjusted basis. With the significant progress made to date, we believe we will be in a position to consider initiating certain strategic options focused on value creation and crystallization as early as the fourth quarter. As we previously noted, certain strategic initiatives will be subject to regulatory approvals and, in all cases, consideration of prevailing market conditions. With respect to our core Specialty P&C business, we continue to record significant top and bottom line growth for both Everspan, our hybrid fronting platform; and Cirrata, our Insurance Distribution business. Our differentiated market positioning, combined with favorable market trends, position us well for continued robust growth in the coming quarters. Our consolidated financial results for the second quarter showed a modest GAAP net loss and positive adjusted net income, reflecting the momentum of our new businesses and the increasing stability of our Legacy Financial Guarantee business. During the quarter, we also completed repurchases for just over 200,000 common shares. David will discuss our financial results in more detail shortly. But first, I would like to provide some additional information on our achievements for the quarter. As noted, we continue to focus on the derisking of the Legacy Financial Guarantee portfolio via select risk-sculpting transactions, which will benefit us significantly in facilitating strategic options for the business. One very notable derisking transaction for the quarter involved a substantial reinsurance transaction, which reduced our largest risk concentration in addition to certain adversely classified and very long-dated policies. This transaction will also be materially beneficial from both an economic and regulatory capital perspective. This reinsurance transaction, along with other key derisking initiatives, reduced our Watch List and Adversely Classified Credits by nearly $1.5 billion, down approximately 20% from the prior quarter. Turning now to our P&C businesses. Our Specialty P&C platform continues to scale and deliver strong results with over $94 million of premium production this quarter, a 45% increase over the prior years. Everspan Group continued its upward trajectory, generating gross premium written of $53 million, which was up 30% over last year. The company continues to expand and diversify its MGA program partners, which currently stand at 16, up from 11 a year ago. Everspan's book continues to become more balanced across risk classes, which would have the long-term benefit of more stable and predictable underwriting results. From an overall industry perspective, market conditions remain supportive of our continued business growth at Everspan, particularly in the E&S markets. Demand for E&S capacity remains robust with many programs transitioning out of the more rigid admitted markets and moving forward on a non-admitted basis. This dynamic is reflected in some of the recent data coming out of excess and surplus line stamping offices for California, Florida and Texas, which has shown trailing 3-month year-over-year premium change growing from over 13% in May to 19% in July. For Everspan, E&S premium represented 78% of its gross premium written this quarter, up from 67% in the first quarter. Against this backdrop, we are on target for Everspan to generate approximately $250 million of gross premiums this year, subject, of course, to market conditions. We also expect Everspan to reach profitability in the back half of the year and begin to contribute to the overall EBITDA growth of our P&C businesses. Cirrata, our Insurance Distribution business, also had a strong quarter, generating $41 million of premium, up 72% over the prior year. We continue to see significant opportunities for Cirrata, whether in the form of additional de novo platforms, product expansion across our current businesses or through additional M&A. Yesterday, we announced the acquisition of a controlling stake in the Riverton Insurance Agency, which is a New Jersey-based professional line specialist that will add over $40 million of annual premium to our platform and expand our product capabilities. Cirrata remains on target to meet or exceed its 2023 target premium of $200 million while maintaining attractive margins. I will now turn the call over to David to discuss our financial results for the quarter. David?David TrickThank you, Claude, and good morning, everyone. For the second quarter of 2023, Ambac reported a net loss of $13 million or $0.29 per diluted share compared to net income of $5 million or $0.11 per diluted share in the second quarter of 2022. Adjusted net income was $3 million or $0.07 per diluted share compared to an adjusted net loss of $38 million or $0.84 per diluted share in the second quarter of 2022. The $18 million decrease in net income for the second quarter of 2023 compared to the second quarter of 2022 was driven by several items related to the Legacy Financial Guarantee business. First, results for the second quarter of 2022 benefited from $57 million of realized gains from the extinguishment of debt. Second, net gains on derivative contracts declined $29 million compared to the second quarter of 2022. During the quarter, we terminated our macro hedge interest rate derivative position, which had a modest impact on results. And third, there was a $16 million increase in incurred loss and loss expenses, mostly due to the relative impact of higher discount rates in the second quarter of 2022. These differences were mostly offset by a $57 million improvement in investment income and a $29 million reduction to interest expense. The $41 million increase in adjusted net income for the second quarter of 2023 compared to the second quarter of 2022 was driven by new business growth, the improved investment results and lower interest expense. Compared to GAAP net income, adjusted net income excludes gains on extinguishment of debt, realized investment gains and losses, intangible amortization and litigation costs. Everspan generated $53 million of gross written premiums in the quarter, up 30% over the prior year period, experiencing growth from both existing programs as well as new programs from its expanding roster of MGA partners. Net premiums written in the quarter of $9 million were up 13% over the prior year period. This represented a retention rate of approximately 17% of gross premium compared to 20% last year. The lower retention rate stemmed from the relative growth of fully funded programs. Earned premiums and program fees were $8 million and $2 million, up 173% and 250%, respectively, from the second quarter of 2022. The loss ratio was 73.7% in the second quarter of 2023 compared to 66.5% last year. We thought it prudent to increase the overall loss pick to 69%, including ULAE, from 66%. This change resulted in a true-up adjustment included in this quarter's loss ratio. The impact on Everspan's bottom line was minimal as the increase in losses was almost fully offset by an adjustment to sliding scale commissions recognized as a benefit through acquisition costs. Everspan continued on its path to profitability with near-breakeven results for the second quarter. It's modest pretax loss of $118,000 compared to a loss in excess of $1 million for the second quarter of 2022. Cirrata premiums placed of $41 million in the quarter were up 72% compared to the second quarter of 2022, benefiting from the acquisitions of All Trans and Capacity Marine last year as well as organic growth. The Insurance Distribution segment produced $1.6 million of EBITDA for the second quarter, up from $1 million produced in the second quarter of 2022 on an EBITDA margin of 16.3% versus 15.5% last year. It's worth highlighting that Cirrata's current earnings pattern is highly seasonal with the first quarter being the largest. We expect the seasonality to become more muted over time as we diversify the platform. For the first 6 months of 2023, Cirrata generated $6.2 million of EBITDA versus $3.8 million in the first 6 months of 2022 on EBITDA margins of 25.2% and 25.1%, respectively. Consolidated investment income for the second quarter was $35 million compared to a $21 million loss in the second quarter of 2022. Despite reducing our allocation to alternative investments by $116 million since the beginning of 2022, alternative investment income rose $32 million compared to last year, and trading asset gains of $4 million increased $16 million over the prior period. During the second quarter of 2023, the average yield on our available-for-sale securities was approximately 4.6%, up from 3% last year. Total loss and loss adjustment expenses were $7 million in the second quarter of 2023 compared to a $12 million benefit in the second quarter 2022. Everspan losses accounted for approximately $6 million of losses in the quarter with the balance from the Legacy Financial Guarantee segment. This compared to last year where the Legacy Financial Guarantee segment generated a benefit of $14 million as a result of higher discount rates more than offsetting the $2 million of incurred losses at Everspan. General and administrative expenses were $36 million for the second quarter, up from $30 million in the second quarter of 2022. The increase in operating expenses was due to a $5 million increase in litigation costs at AAC; higher headcount in our growth segments, including from the consolidation of All Trans and Capacity Marine; and other associated costs with the continued growth of the P&C businesses. These expenses were more than offset by lower headcount and associated expenses at the Legacy Financial Guarantee business. Interest expense was approximately $16 million, down from $45 million in the second quarter of 2022, given the retirement of all of AAC's senior secured debt and a reduction in outstanding surplus notes over the last year. AAC's remaining surplus note debt as of June 30, 2023, was $969 million, inclusive of accrued and unpaid interest. Turning to the balance sheet. Shareholders' equity of $1.25 billion or $27.59 per share at June 30, 2023, was down slightly from the $27.66 per share at March 31, 2023. The change was driven by the $13 million net loss and a $13 million increase to unrealized losses on available-for-sale investments, being mostly offset by foreign exchange translation gains related to AUK of $21 million in the quarter. Adjusted book value of $1.22 billion or $26.97 per share at June 30, 2023, was down from $27.89 per share on March 31, 2023. This $0.92 per share decrease in adjusted book value was due mostly to the Legacy Financial Guarantee derisking reinsurance transaction Claude previously mentioned. Consideration for the reinsurance transaction included a $6 million upfront payment and $42 million of future installment premiums. During the quarter, we repurchased 205,000 shares of common stock at an average price of $14.42 per share, which more than offset shares issued as part of employee and Board member compensation. At June 30, 2023, AFG on a stand-alone basis, excluding investments and subsidiaries, had cash, investments and net receivables of approximately $223 million or $4.91 per share. I will now turn the call back to Claude for some brief closing remarks.Claude L. LeBlancThank you, David. Going into the second half of the year, we are well positioned to generate and crystalize significant value from both our Legacy Financial Guarantee and core Specialty P&C businesses. We expect to have greater near-term visibility on the strategic options available for our legacy business, which will enable us to progress towards an execution mode. I am also very pleased with the continued strong growth of our core Specialty P&C businesses. We are seeing the pipeline for both organic and strategic growth opportunities continue to rapidly expand as we've become increasingly recognized for our differentiated market strategy. I look forward to updating you on our progress in the coming quarter. Operator, please open the call for questions.Question and Answer SessionOperator(Operator Instructions) And our first question comes from Giuliano Bologna with Compass Point.Giuliano Jude Anderes BolognaI'd like to touch on the potential time line that you mentioned. When you're saying being able to look at some strategic alternatives in 4Q, I'm curious if you're thinking about kind of launching a process for them? Or do you think there is the potential to execute some of those potential transactions in 4Q?Claude L. LeBlancThanks, Giuliano. Currently, we're evaluating all of our options and progressing all of them in parallel. As we've indicated, they're not mutually exclusive. So some of them could be executed or commenced in parallel with others. And in terms of the time line, we believe we will be in a position to having evaluated our options to initiate or commence initiating some of our options as early as the fourth quarter, again, subject to regulatory approvals as required and market conditions.Giuliano Jude Anderes BolognaThat's very helpful. Then thinking about it from a broader capital allocation perspective, you obviously have a fair amount of capital at the holding company level. There isn't necessarily much capital needed at Everspan at the moment. And if you release more capital from AAC over time, I'd be curious how you think about capital allocation at that point and the best use of your capital because you already have some capital to deploy at the holding company level today.David TrickThanks, Giuliano. Capital allocation is something we debate and discuss frequently, as we've talked about before. And certainly, as I think we've talked about before, Everspan, there's not a significant need for capital going forward. Our current plans generally involve more capital allocation as we demonstrated with the recent acquisition of Riverton that Claude mentioned in the Cirrata Insurance Distribution businesses. But nevertheless, all of our capital allocation decisions always revolve around the opportunities in the marketplace to deploy capital in new businesses versus what the benefit is and then return -- possibilities of returning capital to shareholders.Giuliano Jude Anderes BolognaYes, that's great. And then just thinking on the litigation expense side, I'd be curious, just thinking about the cadence of potential litigation expenses over the next few quarters, should we expect that to continue at the same level or start to trend down over the next few quarters?David TrickYes, the expense certainly has been running hot, as we've talked about every quarter. We do expect that expense to moderate in coming quarters. But -- and at least in the short term, there's going to be continued spend to resolve the outstanding litigation.OperatorOur next question comes from Geoffrey Dunn with Dowling & Partners Securities.Geoffrey Murray DunnI wanted to ask more about the reinsurance transaction. It looks like it was more a watch list than adversely adverse credits. And just based on the numbers, it looks like it's more housing revenue bonds, maybe. Was it military housing? Was it something else about that, that stood out? Can you talk a little bit more about how you identified that particular transaction?Claude L. LeBlancYes. Thanks, Geoff. I think it's fair to say the majority or the bulk of it was military housing. And as we've indicated in the past, this is a concentration risk in our portfolio. There are also many long-dated exposures and some very large exposures. So I think it's an area that we have been keen looking to sculpt in our portfolio. It also included some adversely classified credits, as we mentioned, and other credits that we viewed as also very long-dated and potential stressed credits that we wanted to exit. So I think overall, it was a sort of a package of credits that we wanted to exit and have been working on this transaction for, in fact, a number of years. So we were very fortunate to be able to complete it this past quarter. But I think your summation as to being primarily military housing, I think, is a good one.Geoffrey Murray DunnOkay. And just from an economic standpoint, I mean the $6 million upfront and then the installment, what was actually the company's cost for this? Because if it's $6 million upfront, that doesn't seem overly burdensome for getting rid of this type of exposure. Was the remaining $40-odd million installment specific to the deal? Or what is the actual payment by Ambac above and beyond the premium flow associated with the transaction?David TrickThere wasn't payment above and beyond the premium flow from the transaction. So we're simply giving up the premium associated with the deals that were seeded.OperatorThere are no further questions at this time. This concludes today's teleconference. We thank you for participating. You may disconnect your lines at this time. Thank you for your participation, and have a good day.

Thomson Reuters StreetEvents

Q2 2023 Ambac Financial Group Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-ambac-financial-group-021803798.html

af352c4e-97ca-302a-beac-4ee3385c30e4

AMCR

Amcor plc (NYSE:AMCR) will pay a dividend of $0.1225 on the 27th of September. Based on this payment, the dividend yield on the company's stock will be 5.0%, which is an attractive boost to shareholder returns. See our latest analysis for Amcor Amcor's Dividend Is Well Covered By EarningsIf the payments aren't sustainable, a high yield for a few years won't matter that much. Prior to this announcement, Amcor's dividend was only 69% of earnings, however it was paying out 95% of free cash flows. The company might be more focused on returning cash to shareholders, but paying out this much of its cash flow could expose the dividend to being cut in the future.Looking forward, earnings per share is forecast to rise by 0.1% over the next year. If the dividend continues on this path, the payout ratio could be 69% by next year, which we think can be pretty sustainable going forward.historic-dividendAmcor Doesn't Have A Long Payment HistoryThe company has maintained a consistent dividend for a few years now, but we would like to see a longer track record before relying on it. Since 2019, the annual payment back then was $0.48, compared to the most recent full-year payment of $0.49. Dividend payments have been growing, but very slowly over the period. Modest dividend growth is good to see, especially with the payments being relatively stable. However, the payment history is relatively short and we wouldn't want to rely on this dividend too much.Amcor Could Grow Its DividendSome investors will be chomping at the bit to buy some of the company's stock based on its dividend history. It's encouraging to see that Amcor has been growing its earnings per share at 8.0% a year over the past five years. While on an earnings basis, this company looks appealing as an income stock, the cash payout ratio still makes us cautious.Our Thoughts On Amcor's DividendOverall, we don't think this company makes a great dividend stock, even though the dividend wasn't cut this year. With cash flows lacking, it is difficult to see how the company can sustain a dividend payment. Overall, we don't think this company has the makings of a good income stock.Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. Still, investors need to consider a host of other factors, apart from dividend payments, when analysing a company. To that end, Amcor has 2 warning signs (and 1 which shouldn't be ignored) we think you should know about. Is Amcor not quite the opportunity you were looking for? Why not check out our selection of top dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Amcor (NYSE:AMCR) Is Paying Out A Dividend Of $0.1225

https://finance.yahoo.com/news/amcor-nyse-amcr-paying-dividend-121519209.html

5913a877-0fa4-331d-985a-3bb3beb32a32

AMCR

LAKE MARY, Fla., Sept. 5, 2023 /PRNewswire/ -- VerifyMe, Inc. (NASDAQ: VRME) together with its subsidiaries, Trust Codes Global Limited ("Trust Codes Global") and PeriShip Global LLC ("PeriShip Global"), (together "VerifyMe," "we," "our," or the "Company") provides brand owners time and temperature sensitive logistics, supply chain traceability, authentication, anti-counterfeiting, and data-rich brand enhancement services, announced today that they will be demonstrating their connected packaging solution in conjunction with Amcor at Pack Expo in Las Vegas between September 11 and 13 2023.VerifyMe Logo (PRNewsfoto/VerifyMe, Inc.)The evolution of connected packaging and GS1 driven 2D barcode migration means consumer-facing companies are increasingly adopting digital capabilities on packaging to protect their brand, facilitate traceability and engage with conscious and curious consumers. The Company is working with Amcor to demonstrate that this digital transformation is possible without significant process change, using a "digital ready" concept leveraging a unique identifier on every pack.Don Schnabel, Marketing Director - Meat, Poultry and Seafood at Amcor says, "The beauty of connected packaging is that multiple objectives can be achieved through one unique code on each package, enabling a frictionless experience for consumers and ultimate traceability for processors.Don Schnabel continued "We are demonstrating the capability to print unique GS1 compliant QR codes on demand at Pack Expo, using our Moda Bag.  This on-demand making unit can print both fixed and variable graphics on site at the processor. The unit is wash-down ready and is built to replace a rack of premade bags on the packaging floor.  Visitors to Pack Expo can view a live demonstration of the Amcor Moda Bag at booth SU07244".The VerifyMe solution integrates with the new GS1 Digital Link standard to provide traceability through the supply-chain to end consumers, while at the same time helping brands and producers to comply with traceability regulations such as the US FDA Food Traceability Rule. Consumers are increasingly curious about the provenance and attributes of the food they are consuming, and this technology provides a channel to share that information backed by data-driven evidence.Story continuesAdam Stedham, President and CEO of VerifyMe said "We are delighted that Amcor is demonstrating our connected packaging solution at Pack Expo in Las Vegas. VerifyMe acquired, the New Zealand based, Trust Codes Global to vertically integrate its technology stack, brand protection, and brand enhancement offerings into our Authentication Segment. We believe Trust Codes Global's deep domain expertise and product development in machine learning and AI, and industry expertise in food, nutrition, beverage, and nutraceuticals, provides the capability to deliver better outcomes to customers facing counterfeit, brand connection and diversion issues."Incorporating the Trust Codes Global leading product cloud into VerifyMe's Authentication services significantly elevates our traceability offering. As a product offering, our clients have access to data-driven brand protection and standards-based traceability out of the box. Trust Codes Global has a proven platform, with customers who are leading the way in traceability and GS1 2D barcode migration. We believe VerifyMe is well-positioned to lead North American and European customers along the journey of complying with new traceability requirements.About AmcorAmcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2023, 41,000 Amcor people generated $14.7 billion in annual sales from operations that span 218 locations in 41 countries. NYSE: AMCR; ASX: AMCAbout VerifyMe, Inc.VerifyMe, Inc. (NASDAQ: VRME), together with its subsidiaries, Trust Codes Global and PeriShip Global, provides traceability, brand protection and brand enhancement solutions. The company operates an Authentication Segment and a Precision Logistics Segment to provide item-level traceability, anti-diversion and anti-counterfeit protection, brand protection and enhancement technology solutions, as well as specialized logistics for time and temperature sensitive products. VerifyMe serves customers worldwide. To learn more, visit www.verifyme.com.Cautionary Note Regarding Forward-Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including statements regarding the Company's strategic reorganization, its position to provide value to its customer and shareholders, and expectations related to its customer base and revenue growth. The words "believe," "will,"  and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include our engagement in future acquisitions or strategic partnerships that increase our capital requirements or cause us to incur debt or assume contingent liabilities, the successful integration of our acquisitions (including the assets of PeriShip Global and Trust Codes Global), our reliance on one key strategic partner for shipping services in our Precision Logistics segment, competition including by our key strategic partner, seasonal trends in our business, sever climate conditions, the highly competitive nature of the industry in which we operate, our brand image and corporate reputation, impairments related to our goodwill and other intangible assets, economic and other factors such as recessions, downturns in the economy, inflation, global uncertainty and instability, the effects of pandemics, changes in United States social, political, and regulatory conditions and/or a disruption of financial markets, reduced freight volumes due to economic conditions, reduced discretionary spending in a recessionary environment, global supply-chain delays or shortages, fluctuations in labor costs, raw materials, and changes in the availability of key suppliers, our history of losses, our ability to use our net operating losses to offset future taxable income, the confusion of our name brand with other brands, the ability of our technology to work as anticipated and to successfully provide analytics logistics management, our ability to manage our growth effectively, the small number of customers that account for our revenue, our ability to successfully develop and expand our sales and marketing capabilities, risks related to doing business outside of the U.S., intellectual property litigation, our ability to successfully develop, implement, maintain, upgrade, enhance, and protect our information technology systems, our reliance on third-party information technology service providers, our ability to respond to evolving laws related to information technology such as privacy laws, risks related to deriving revenue from some clients in the cannabis industry, our ability to retain key management personnel, our ability to work with partners in selling our technologies to businesses, production difficulties, our inability to enter into contracts and arrangements with future partners, our ability to acquire new customers, issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies and the efficiency of our authenticators in the field, our ability to comply with the continued listing standards of the Nasdaq Capital Market, and our ability to timely pay amounts due and comply with the covenants under our debt facilities. These risk factors and uncertainties include those more fully described in VerifyMe's Annual Report and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors." Should one or more of these risks or uncertainties materialize, or should any of our underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/amcor-demonstrating-connected-packaging-at-pack-expo-2023-with-verifyme-inc-301917375.htmlSOURCE VerifyMe, Inc.

PR Newswire

Amcor Demonstrating Connected Packaging at Pack Expo 2023 with VerifyMe, Inc

https://finance.yahoo.com/news/amcor-demonstrating-connected-packaging-pack-122200703.html

2129b807-f604-321f-acf0-e5b88ea1ed55

AMD

Looking for the next big thing in AI stocks? These three top-quality stocks should be at the top of your list.Continue reading

Motley Fool

3 Artificial Intelligence (AI) Winners to Buy Before the Next Bull Run Starts

https://finance.yahoo.com/m/c8433474-3d88-3d33-8040-c64dd84fea50/3-artificial-intelligence.html

c8433474-3d88-3d33-8040-c64dd84fea50

AMD

Shares in Advanced Micro Devices (NASDAQ: AMD) have soared 65% year to date as investors grow bullish over its prospects in artificial intelligence (AI). Meanwhile, Nvidia's swift rise to the top of AI this year highlighted how far behind AMD has fallen in the industry. AMD and Nvidia have been in close competition for years, both active in markets such as gaming, data centers, PCs, and more.Continue reading

Motley Fool

3 Things About AMD That Smart Investors Know

https://finance.yahoo.com/m/d3cb4846-05a7-3f88-8781-42664a44b8f9/3-things-about-amd-that-smart.html

d3cb4846-05a7-3f88-8781-42664a44b8f9

AME

BERWYN, Pa., Sept. 6, 2023 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced the acquisition of United Electronic Industries (UEI), a leading provider of data acquisition and control solutions for the aerospace, defense, energy and semiconductor industries.UEI specializes in the design and manufacture of high-performance test, measurement, simulation and control solutions that enable customers to build smart, reliable, flexible and rugged systems. The company's products are used in a variety of mission critical applications, including flight simulation and training, machine health and usage monitoring, and automated testing."We are excited to welcome United Electronic Industries to the AMETEK family," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "UEI is an excellent strategic fit with our Power Systems and Instruments Division. Their innovative solutions nicely complement our existing testing and data acquisition expertise helping broaden our presence serving attractive market segments and applications."UEI is headquartered in Norwood, Massachusetts and has annual sales of approximately $35 million. UEI will join AMETEK as part of its Electronic Instruments Group (EIG) - a leader in advanced analytical, monitoring, testing, calibrating and display instrumentation.Corporate ProfileAMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annual sales over $6.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 90 years and is a component of the S&P 500. For more information, visit www.ametek.com.Story continuesContact:Kevin ColemanVice President, Investor Relations and [email protected]: 610-889-5247CisionView original content:https://www.prnewswire.com/news-releases/ametek-acquires-united-electronic-industries-301918302.htmlSOURCE AMETEK, Inc.

PR Newswire

AMETEK Acquires United Electronic Industries

https://finance.yahoo.com/news/ametek-acquires-united-electronic-industries-120000449.html

6f03caf1-4782-32c2-b0c0-eca28f64cd73

AME

BERWYN, Pa., Sept. 8, 2023 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced that it has named Dalip Puri as Senior Vice President, Operational Finance, effective September 1, 2023. Mr. Puri will continue to report directly to William J. Burke, Executive Vice President and Chief Financial Officer."I am pleased to announce Dalip's promotion to Senior Vice President. Throughout his tenure at AMETEK, Dalip has provided strong leadership within our financial organization and has led a number of important initiatives across the company," commented David A. Zapico, AMETEK Chairman and Chief Executive Officer.Mr. Puri has been Vice President, Operational Finance since July 2023. Prior to that, Mr. Puri was Vice President and Group Controller since October 2021. Dalip joined AMETEK in 2017 as Vice President and Treasurer. Prior to joining AMETEK, Dalip was Vice President, Treasurer and Investor Relations at Chemtura Corporation. Earlier in his career Dalip held roles of increasing responsibility at Delphi Corporation and Hewitt Associates.Mr. Puri holds a Bachelor of Commerce in Finance degree from Concordia University and a Master of Business Administration degree from the University of Western Ontario.Corporate ProfileAMETEK, Inc. is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annual sales over $6.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 90 years and is a component of the S&P 500. For more information, visit www.ametek.com.Story continuesContact:Kevin ColemanVice President, Investor Relations & [email protected]: 610.889.5247CisionView original content:https://www.prnewswire.com/news-releases/ametek-promotes-dalip-puri-to-senior-vice-president-operational-finance-301921486.htmlSOURCE AMETEK, Inc.

PR Newswire

AMETEK Promotes Dalip Puri to Senior Vice President, Operational Finance

https://finance.yahoo.com/news/ametek-promotes-dalip-puri-senior-120000420.html

d27355d1-28ec-31e3-8a77-05da55e2ff08

AMGN

Wall Street should pay attention as the pharma industry mounts a widening legal campaign against the Inflation Reduction Act.Continue reading

The Wall Street Journal

Big Pharma’s Battle With the Biden Administration Could Have Legs

https://finance.yahoo.com/m/51c47402-4c0e-39d2-9824-8ace05ff5282/big-pharma%E2%80%99s-battle-with-the.html

51c47402-4c0e-39d2-9824-8ace05ff5282

AMGN

In Phase 1b Study, Patients Treated in First-Line Demonstrated a Confirmed Objective Response Rate of 65%THOUSAND OAKS, Calif., Sept. 10, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced exciting data from a study arm of the CodeBreaK 101 clinical trial, a Phase 1b study evaluating LUMAKRAS® (sotorasib) with carboplatin and pemetrexed in adult patients with KRAS G12C-mutated advanced non-small cell lung cancer (NSCLC). These results were featured in an oral presentation at the International Association for the Study of Lung Cancer (IASLC) 2023 World Conference on Lung Cancer (WCLC) in Singapore on Sunday, September 10.In patients treated in the first-line setting (n=20), the confirmed objective response rate (ORR) was 65%, with a 100% disease control rate (DCR) (95% CI: 83.2, 100). In assessable patients in the second-line setting (n=13), the ORR was 54%, with a DCR of 85% (95% CI: 54.6, 98.1). Among patients with protein ligand-1 (PD-L1) expression less than 1%, the ORR was 62% in the first-line setting and 50% in the second-line setting. With a median follow-up of 3.0 months, preliminary rapid and durable responses were observed. Progression-free survival (PFS) and overall survival (OS) were immature."We are delighted to see the positive data from the global CodeBreaK 101 trial further validate our approach to move LUMAKRAS earlier within the treatment paradigm through novel therapeutic combinations," said David M. Reese, M.D., executive vice president of Research and Development at Amgen. "Notably, these results follow and further expand upon the Phase 2 investigator-led data demonstrating favorable efficacy and safety of LUMAKRAS plus carboplatin and pemetrexed in the first-line treatment of patients with KRAS G12C-mutated NSCLC."The LUMAKRAS plus chemotherapy combination reported treatment-related adverse events (TRAEs) consistent with LUMAKRAS and other platinum doublet-based approaches. The most common TRAEs were neutropenia/neutrophil count decrease (53%), anemia (39%) and thrombocytopenia/platelet count decrease (37%). No fatal adverse events occurred.Story continues"Combination treatment is an important approach to prevent or delay the onset of drug resistance and improve the depth and durability of targeted response in KRAS G12C­­-mutated NSCLC," said Jeffrey M. Clarke, M.D., oncologist and associate professor of medicine, Duke Cancer Institute at Duke University. "The CodeBreaK 101 results show exciting efficacy with sotorasib plus chemotherapy and, importantly for a combination treatment, a safety profile consistent with the individual therapies. These data warrant continued investigation in larger trials."Based on these results, Amgen has initiated a Phase 3 study of LUMAKRAS plus carboplatin and pemetrexed in first-line KRAS G12C-mutant and negative for programmed cell death PD-L1 advanced NSCLC (CodeBreaK 202; NCT05920356), with enrollment expected to start before the end of 2023.About CodeBreaK 101CodeBreaK 101 (NCT04185883) is a global Phase 1b/2 clinical trial evaluating the safety, tolerability, pharmacokinetics, and efficacy of sotorasib in combination with other anticancer therapies in patients with advanced solid tumors and the KRAS G12C mutation. Subprotocol F of the Phase 1b trial is assessing the safety, tolerability, pharmacokinetics, and efficacy of sotorasib in combination with carboplatin and pemetrexed with or without pembrolizumab maintenance, with docetaxel, or with carboplatin and paclitaxel in patients with KRAS G12C-mutated NSCLC.1About LUMAKRAS®/LUMYKRAS® (sotorasib)Amgen took on one of the toughest challenges of the last 40 years in cancer research by developing LUMAKRAS/LUMYKRAS, a KRASG12C inhibitor.2 LUMAKRAS/LUMYKRAS has demonstrated a positive benefit-risk profile with rapid, deep, and durable anticancer activity in patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) harboring the KRAS G12C mutation with a once daily oral formulation.3Amgen is progressing the largest and broadest global KRASG12C inhibitor development program with unparalleled speed and exploring more than 10 sotorasib combination regimens, with clinical trial sites spanning five continents. To date, over 6,500 patients around the world have received LUMAKRAS/LUMYKRAS through the clinical development program and commercial use.In May 2021, LUMAKRAS was the first KRASG12C inhibitor to receive regulatory approval with its approval in the U.S., under accelerated approval. LUMAKRAS/LUMYKRAS is also approved in the European Union, Japan, United Arab Emirates, South Korea, Hong Kong, Switzerland, Taiwan, Turkey, Thailand, Qatar, Australia, Argentina, Brazil, Canada, Great Britain, Kuwait, Macao, Singapore, Mexico, Israel, Bulgaria, Hungary, Romania, and Russia. Additionally, Amgen has submitted MAAs in Colombia, Malaysia and Saudi Arabia.LUMAKRAS/LUMYKRAS is also being studied in multiple other solid tumors.4About Advanced Non-Small Cell Lung Cancer and the KRAS G12C MutationLung cancer is the leading cause of cancer-related deaths worldwide, and it accounts for more deaths worldwide than colon cancer, breast cancer and prostate cancer combined.5 Overall survival rates for NSCLC are improving but remain poor for patients with advanced disease, and 5-year survival is only 9% for those with metastatic disease.6KRAS G12C is the most common KRAS mutation in NSCLC.7 About 13% of patients with non-squamous NSCLC harbor the KRAS G12C mutation.8 Unmet medical need remains high and treatment options are limited for NSCLC patients with the KRAS G12C mutation whose first-line treatment has failed to work or has stopped working. The outcomes with other approved therapies are suboptimal, with a median progression-free survival of approximately four months following second-line treatment of KRAS G12C-mutated NSCLC.9LUMAKRAS® (sotorasib) U.S. IndicationLUMAKRAS is indicated for the treatment of adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC), as determined by an FDA-approved test, who have received at least one prior systemic therapy.This indication is approved under accelerated approval based on overall response rate (ORR) and duration of response (DOR). Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial(s).LUMAKRAS® (sotorasib) Important U.S. Safety Information Hepatotoxicity LUMAKRAS can cause hepatotoxicity, which may lead to drug-induced liver injury and hepatitis.Among 357 patients who received LUMAKRAS in CodeBreaK 100, hepatotoxicity occurred in 1.7% (all grades) and 1.4% (Grade 3). A total of 18% of patients who received LUMAKRAS had increased alanine aminotransferase (ALT)/increased aspartate aminotransferase (AST); 6% were Grade 3 and 0.6% were Grade 4. In addition to dose interruption or reduction, 5% of patients received corticosteroids for the treatment of hepatotoxicity.Monitor liver function tests (ALT, AST and total bilirubin) prior to the start of LUMAKRAS every 3 weeks for the first 3 months of treatment, then once a month or as clinically indicated, with more frequent testing in patients who develop transaminase and/or bilirubin elevations.Withhold, dose reduce or permanently discontinue LUMAKRAS based on severity of adverse reaction.Interstitial Lung Disease (ILD)/Pneumonitis LUMAKRAS can cause ILD/pneumonitis that can be fatal. Among 357 patients who received LUMAKRAS in CodeBreaK 100, ILD/pneumonitis occurred in 0.8% of patients, all cases were Grade 3 or 4 at onset, and 1 case was fatal. LUMAKRAS was discontinued due to ILD/pneumonitis in 0.6% of patients.Monitor patients for new or worsening pulmonary symptoms indicative of ILD/pneumonitis (e.g., dyspnea, cough, fever). Immediately withhold LUMAKRAS in patients with suspected ILD/pneumonitis and permanently discontinue LUMAKRAS if no other potential causes of ILD/pneumonitis are identified.Most Common Adverse Reactions The most common adverse reactions occurring in ≥ 20% were diarrhea, musculoskeletal pain, nausea, fatigue, hepatotoxicity and cough.Drug Interactions Advise patients to inform their healthcare provider of all concomitant medications, including prescription medicines, over-the-counter drugs, vitamins, dietary and herbal products.Inform patients to avoid proton pump inhibitors and H2 receptor antagonists while taking LUMAKRAS.If coadministration with an acid-reducing agent cannot be avoided, inform patients to take LUMAKRAS 4 hours before or 10 hours after a locally acting antacid.Please see LUMAKRAS full Prescribing Information. About Amgen OncologyAt Amgen Oncology, our mission to serve patients drives all that we do. That's why we're relentlessly focused on accelerating the delivery of medicines that have the potential to empower all angles of care and transform lives of people with cancer.For the last four decades, we have been dedicated to discovering the firsts that matter in oncology and to finding ways to reduce the burden of cancer. Building on our heritage, Amgen continues to advance the largest pipeline in the Company's history, moving with great speed to advance those innovations for the patients who need them.For more information, follow us on www.twitter.com/amgenoncology.About AmgenAmgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's.For more information, visit Amgen.com and follow us on X (formerly known as Twitter), LinkedIn, Instagram, TikTok, YouTube and Threads.Amgen Forward-Looking StatementsThis news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd. or Kyowa-Kirin Co., Ltd.), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), the Teneobio, Inc. acquisition, the ChemoCentryx, Inc. acquisition, or the proposed acquisition of Horizon Therapeutics plc (including the potential outcome of any litigation with the Federal Trade Commission, prospective performance and outlook of Horizon's business, performance and opportunities and any potential strategic benefits, synergies or opportunities expected as a result of such acquisition), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, preclinical results do not guarantee safe and effective performance of product candidates in humans. The complexity of the human body cannot be perfectly, or sometimes, even adequately modeled by computer or cell culture systems or animal models. The length of time that it takes for us to complete clinical trials and obtain regulatory approval for product marketing has in the past varied and we expect similar variability in the future. Even when clinical trials are successful, regulatory authorities may question the sufficiency for approval of the trial endpoints we have selected. We develop product candidates internally and through licensing collaborations, partnerships and joint ventures. Product candidates that are derived from relationships may be subject to disputes between the parties or may prove to be not as effective or as safe as we may have believed at the time of entering into such relationship. Also, we or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market.Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. There can be no guarantee that we will be able to realize any of the strategic benefits, synergies or opportunities arising from the Horizon acquisition, and such benefits, synergies or opportunities may take longer to realize than expected.  We may not obtain regulatory clearance to acquire Horizon or be able to successfully integrate Horizon, and such acquisition or integration may take longer, be more difficult or cost more than expected. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.The scientific information discussed in this news release related to our product candidates is preliminary and investigative. Such product candidates are not approved by the U.S. Food and Drug Administration, and no conclusions can or should be drawn regarding the safety or effectiveness of the product candidates. [Further,] any scientific information discussed in this news release relating to new indications for our products is preliminary and investigative and is not part of the labeling approved by the U.S. Food and Drug Administration for the products. The products are not approved for the investigational use(s) discussed in this news release, and no conclusions can or should be drawn regarding the safety or effectiveness of the products for these uses.CONTACT: Amgen, Thousand Oaks Elissa Snook, 609-251-1407 (media)Jessica Akopyan, 805-440-5721 (media) Justin Claeys, 805-559-0072 (investors)1 ClinicalTrials.gov. CodeBreaK 101. 2023. Available at: https://classic.clinicaltrials.gov/ct2/show/NCT04185883. Accessed on July 27, 2023.2 Canon J, et al. Nature. 2019;575: 217–223.3 Skoulidis F, et al. N Engl J Med. 2021;384:2371-2381.4 Hong DS, et al. N Engl J Med. 2020;383:1207-1217.5 Sung H, et al. CA Cancer J Clin. 2021;71:209-249.6 American Cancer Society. Lung Cancer Survival Rates. 2023. Available at: https://www.cancer.org/cancer/lung-cancer/detection-diagnosis-staging/survival-rates.html. Accessed on July 27, 2023.7 Arbour KC, et al. Clin Cancer Res. 2018;24:334-340.8 Nassar AF, et al. N Engl J. Med. 2021;384:185-187.9 Spira Al, et al. Lung Cancer. 2021;159:1-9.Amgen Logo. (PRNewsFoto/Amgen) (PRNewsFoto/) CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/amgen-presents-new-lumakras-sotorasib-plus-chemotherapy-data-in-first-line-kras-g12c-nsclc-at-wclc-301922393.htmlSOURCE Amgen

PR Newswire

AMGEN PRESENTS NEW LUMAKRAS® (SOTORASIB) PLUS CHEMOTHERAPY DATA IN FIRST-LINE KRAS G12C NSCLC AT WCLC

https://finance.yahoo.com/news/amgen-presents-lumakras-sotorasib-plus-130000423.html

0707280a-a4e9-39d8-8462-975a73e043a8

AMKR

TEMPE, Ariz., September 07, 2023--(BUSINESS WIRE)--Amkor Technology, Inc. (Nasdaq: AMKR) ("Amkor" or the "Company"), a leading provider of semiconductor packaging and test services, today announced the pricing of a secondary underwritten public offering of 10,000,000 shares of the Company’s common stock ("Common Stock") by 915 Investments, LP (the "selling stockholder") at a public offering price of $24 per share. The selling stockholder is an investment vehicle for members of the family of James J. Kim, the founder and Executive Chairman of the Board of Directors of Amkor (the "Board"), and Susan Y. Kim, the Executive Vice Chairman of the Board. The selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Common Stock. All of the shares in the offering will be sold by the selling stockholder. The Company will not receive any proceeds from the sale of the shares by the selling stockholder. Members of the Kim family and their affiliates will continue to own a majority of Amkor’s shares following the sale.The selling stockholder has also entered into a lock-up agreement under which it has agreed that neither the selling stockholder nor any of its direct or indirect affiliates, other than the Company and its subsidiaries, will sell, or otherwise transfer or dispose of, any of its remaining shares of Common Stock for a period of 365 days after the date of the final prospectus, subject to certain exceptions. The Company has entered into a clear market provision pursuant to which it has agreed not to offer or otherwise sell shares of Common Stock for a period of 60 days after the date of the final prospectus, subject to certain exceptions.J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are serving as joint lead bookrunning managers and as representatives of the underwriters for the offering. Goldman Sachs & Co. LLC and Guggenheim Securities, LLC are also serving as joint bookrunners for the offering. B. Riley Securities, Inc., D.A. Davidson & Co., KeyBanc Capital Markets Inc. and Needham & Company, LLC are serving as co-managers for the offering.Story continuesThe Company has filed an effective shelf registration statement including a prospectus and a preliminary prospectus supplement with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus and preliminary prospectus supplement in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company, the selling stockholder and this offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the preliminary prospectus supplement if you request them by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected]; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at [email protected] announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the shares, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.About Amkor Technology, Inc.Amkor Technology, Inc. is the world's largest US headquartered OSAT (outsourced semiconductor assembly and test). Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world's leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey services for the communication, automotive and industrial, consumer, and computing industries, including but not limited to smartphones, electric vehicles, wearables, data centers and artificial intelligence. Amkor's operational base includes production facilities, product development centers and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the United States.Forward-Looking Statement DisclaimerThis announcement contains forward-looking statements within the meaning of federal securities laws. All statements other than statements of historical fact are considered forward-looking statements. These forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could affect future results and cause actual results and events to differ materially from historical and expected results and those expressed or implied in the forward-looking statements, including, but not limited to, that there can be no assurance that the offering of the shares will be consummated. Other important risk factors that could affect the outcome of the events set forth in these statements are discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and in its subsequent filings with the SEC made prior to or after the date hereof. The Company undertakes no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this announcement.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906104264/en/ContactsJennifer JueVice President, Investor Relations and [email protected]

Business Wire

Amkor Technology Announces Pricing of Secondary Offering of 10 million Shares of Common Stock by the Kim Family

https://finance.yahoo.com/news/amkor-technology-announces-pricing-secondary-004700301.html

4908e103-cd3c-3c06-97fe-4b028ce4eb5b

AMKR

Amkor Technology Inc (NASDAQ:AMKR) experienced a daily loss of 15.68% and a 3-month loss of 13.56%. Despite these figures, the company boasts an impressive Earnings Per Share (EPS) (EPS) of 2.35. The question that arises is whether the stock is fairly valued? We invite you to delve into our comprehensive analysis to find out.Company OverviewWarning! GuruFocus has detected 6 Warning Signs with BB. Click here to check it out. AMKR 30-Year Financial DataThe intrinsic value of AMKRAmkor Technology Inc is a leading provider of outsourced semiconductor packaging and test services. The company's clientele includes integrated device manufacturers, fabless semiconductor companies, and contract foundries. Amkor Technology's products are divided into advanced products, such as flip chip, wafer-level processing, and testing services, and mainstream products that include wirebond packaging and testing. The company generates approximately a third of its revenue in the United States, with the remainder coming from various countries worldwide, including China, Ireland, Japan, Malaysia, Taiwan, and Singapore.Amkor Technology (AMKR): A Fairly Valued Gem in the Semiconductor Industry?Understanding the GF ValueThe GF Value is a proprietary measure that represents the current intrinsic value of a stock. It is calculated based on historical trading multiples, a GuruFocus adjustment factor based on past performance and growth, and future business performance estimates. The GF Value Line on our summary page provides an overview of the fair value that the stock should be traded at. If the stock price is significantly above the GF Value Line, it is overvalued, and its future return is likely to be poor. Conversely, if it is significantly below the GF Value Line, its future return will likely be higher.Based on our valuation method, Amkor Technology (NASDAQ:AMKR) appears to be fairly valued. At its current price of $22.99 per share, Amkor Technology has a market cap of $5.60 billion. Because it is fairly valued, the long-term return of its stock is likely to be close to the rate of its business growth.Story continuesAmkor Technology (AMKR): A Fairly Valued Gem in the Semiconductor Industry?Financial StrengthCompanies with poor financial strength pose a high risk of permanent capital loss. To avoid this, investors must review a company's financial strength before deciding to purchase shares. Both the cash-to-debt ratio and interest coverage of a company are great ways to understand its financial strength. Amkor Technology has a cash-to-debt ratio of 0.92, which ranks worse than 67.37% of 895 companies in the Semiconductors industry. The overall financial strength of Amkor Technology is 7 out of 10, indicating fair financial strength.Amkor Technology (AMKR): A Fairly Valued Gem in the Semiconductor Industry?Profitability and GrowthInvesting in profitable companies, especially those that have demonstrated consistent profitability over the long term, poses less risk. A company with high profit margins is typically a safer investment than one with low profit margins. Amkor Technology has been profitable 10 over the past 10 years. Over the past twelve months, the company had a revenue of $6.90 billion and an EPS of $2.35. Its operating margin is 9.96%, which ranks better than 59.59% of 938 companies in the Semiconductors industry. Overall, GuruFocus ranks the profitability of Amkor Technology at 9 out of 10, indicating strong profitability.Growth is probably one of the most important factors in the valuation of a company. If a company's business is growing, it usually creates value for its shareholders, especially if the growth is profitable. Amkor Technology's 3-year average revenue growth rate is better than 68.25% of 863 companies in the Semiconductors industry. Its 3-year average EBITDA growth rate is 25.4%, which ranks better than 53.79% of 766 companies in the Semiconductors industry.ROIC vs WACCAnother way to look at the profitability of a company is to compare its return on invested capital and the weighted cost of capital. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business. The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. For the past 12 months, Amkor Technology's return on invested capital is 14.75, and its cost of capital is 13.32.Amkor Technology (AMKR): A Fairly Valued Gem in the Semiconductor Industry?ConclusionIn conclusion, Amkor Technology's stock shows every sign of being fairly valued. The company's financial condition is fair, and its profitability is strong. Its growth ranks better than 53.79% of 766 companies in the Semiconductors industry. To learn more about Amkor Technology's stock, you can check out its 30-Year Financials here.To find out the high-quality companies that may deliver above-average returns, please check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Amkor Technology (AMKR): A Fairly Valued Gem in the Semiconductor Industry?

https://finance.yahoo.com/news/amkor-technology-amkr-fairly-valued-154621804.html

623ba335-1ffe-383e-8280-e59e2b7071b5

AMP

MINNEAPOLIS, September 08, 2023--(BUSINESS WIRE)--Ameriprise Financial, Inc. (NYSE:AMP) today announced it has been named a "Best Place to Work for Disability Inclusion" by the American Association of People with Disabilities and Disability:IN for the fourth consecutive year. Ameriprise earned the distinction after receiving a score of 90 percent on the Disability Equality Index® (DEI), which measures tangible actions companies take in an effort to support disability inclusion including culture, leadership, enterprise-wide access, employment practices, community engagement and supplier diversity."We are committed to inclusion in every part of the Ameriprise experience so that all employees and advisors feel that they belong, can grow and develop in their careers with us," said Rudy Rodriguez, Vice President of Diversity, Equity and Inclusion at Ameriprise Financial. "Being named a ‘Top Scorer’ on the Disability Equality Index for a fourth year symbolizes our support for employees with seen and unseen disabilities, and we are proud to be recognized among the top companies that foster an inclusive and accessible workplace."Ameriprise has demonstrated its commitment to disability, inclusion, equality, and broader social issues through a spectrum of initiatives including:Sponsoring an employee-led business resource network, STRIVE, that offers education and support for employees with seen and unseen disabilities, and for those who want to learn about differing abilities. The network focuses on eliminating the stigma around physical and mental health issues and providing resources for those in need. Each year, the network hosts an annual Polar Plunge event to raise money for Special Olympics Minnesota.Participating in recruiting events with organizations that reach diverse candidates, including people with disabilities.Partnering with Lifeworks, a nonprofit that supports more than 3,000 individuals with disabilities and their families through services that provide choice and foster community.Story continues"These top-scoring companies understand deeply that people with disabilities represent a tremendous source of talent and innovation for their workforce and market share for their brands, and they are trailblazers in our journey towards full disability inclusion in business," said Maria Town, President and CEO of AAPD.To learn more about diversity and inclusion at Ameriprise, visit ameriprise.com/about/diversity-equity-inclusion.About Ameriprise FinancialAt Ameriprise Financial, we have been helping people feel more confident about their financial future for more than 125 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors1, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.About the Disability Equality Index®The Disability Equality Index (DEI) is a comprehensive benchmarking tool that helps companies build a roadmap of measurable, tangible actions that they can take to achieve disability inclusion and equality. Each company receives a score, on a scale of zero (0) to 100, with those earning 80 and above recognized as a "Best Place to Work for Disability Inclusion."The DEI is a joint initiative of the American Association of People with Disabilities (AAPD), the nation’s largest disability rights organization, and Disability:IN, the global business disability inclusion network, to collectively advance the inclusion of people with disabilities. The organizations are complementary and bring unique strengths that make the project relevant and credible to corporations and the disability community. The tool was developed by the DEI Advisory Committee, a diverse group of business leaders, policy experts, and disability advocates. Learn more at: www.DisabilityEqualityIndex.org.About the American Association of People with Disabilities (AAPD)AAPD is a convener, connector, and catalyst for change, increasing the political and economic power for people with disabilities. As a national cross-disability rights organization AAPD advocates for full civil rights for the 60+ million Americans with disabilities. Learn more at: www.aapd.com.About Disability:IN®Disability:IN is a global organization driving disability inclusion and equality in business. More than 500 corporations partner with Disability:IN to create long-term business and social impact through the world’s most comprehensive disability inclusion benchmarking and reporting tool, the Disability Equality Index (DEI); best-in-class conferences and programs; expert counsel and engagement; and public policy leadership. Join us at disabilityin.org/AreYouIN #AreYouIN.Ameriprise Financial Services, LLC is an Equal Opportunity Employer.Ameriprise Financial Services, LLC. Member FINRA and SIPC.©2023 Ameriprise Financial, Inc. All rights reserved.1 Ameriprise Financial Q3 2022 Earnings Release.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908789962/en/ContactsAllison Harries, Media [email protected]

Business Wire

Ameriprise Financial Named "Best Place to Work" on the Disability Equality Index® for the Fourth Consecutive Year

https://finance.yahoo.com/news/ameriprise-financial-named-best-place-194500102.html

e47c8b2f-6eeb-38f0-bfa4-3be560e2d958

AMP

If you haven’t checked in on your life insurance strategy lately, now would be a good time to ensure you know how it can help beyond providing a death benefit.Life insurance applications surged following the onset of the COVID-19 pandemic, reaching a 38-year high in 2021, according to LIMRA. It’s no mystery why — the virus that tragically killed millions of people was a stark reminder of our mortality and the need to protect loved ones in the wake of our eventual passing.As the pandemic has eased, so too has the record-breaking wave of life insurance applications. Sales officially declined in January 2022, a mere two years since the start of the pandemic, according to LIMRA.This reversal — while understandable — could leave many investors without protections and income they’ll need later in life. While COVID may no longer be top of mind, it’s important to keep sight on the wide array of benefits life insurance can provide. If it’s been a while since you’ve reviewed your life insurance strategy, it may be time for a refresher. Here are some factors to keep in mind.1. Life insurance provides financial security to your loved ones.The primary purpose of life insurance is to protect those who matter most to you following your death. While it’s emotional to think about, planning for the unexpected events in life is critical if you have a spouse, children or other loved ones who depend on your earned income. A payout from life insurance, called a death benefit, supplies essential cash flow to replace lost income, helping your beneficiaries maintain their standard of living and stay on track for goals — such as going to college or retiring — that you planned for together.Life insurance is not a “set it and forget it” strategy. As your life becomes more complex — with events like marriage, the birth of a child and growth in your income and estate — your life insurance needs will likely evolve. It’s important to regularly review the terms of your policies and ensure you have the right amount of coverage to support your beneficiaries’ income needs should you pass away.Story continuesIf you’re a stay-at-home parent, or if you do not have a spouse or any dependents, you still have reasons to consider acquiring life insurance. Think about the financial impact — everything from childcare costs to funeral expenses — that could befall your loved ones if you were to pass away unexpectedly.2. Life insurance can fund financial goals while you’re still living.Life insurance offers liquidity to apply to major financial goals. Your circumstances and goals will likely change over time, and many policies offer the potential to accumulate cash value you can borrow against while you’re still living to apply to key needs. Whether it’s starting a new business, embarking on a passion project or paying for a child’s or grandchild’s education, the cash value accumulated within a life insurance policy can provide the financial resources needed to turn these dreams into reality. The funds can also be used in emergencies, giving you peace of mind that you have another source of income to handle the “what-ifs” that pop up in life.This additional source of liquidity is particularly effective for clients who may not qualify for Roth accounts or have already maximized 401(k) contributions. By leveraging the cash value option in life insurance, individuals have the flexibility to withdraw cash without incurring penalties before age 59½, and they can pay themselves back at 0% interest, making it an attractive option for higher-income earners who are conscious of tax implications.3. Life insurance can cover long-term care expenses.The U.S. Department of Health and Human Services recently reported that 70% of people in the U.S. population turning 65 today will need some type of nursing home or home care service in their remaining years. While no one wants to think about whether they’ll need chronic care, this statistic illustrates how imperative it is to prepare for the possibility.An insurance policy with long-term care provisions provides a predictable stream of income you or your spouse can use to fund care. Many policies offer riders or options that allow policyholders to access a portion of their death benefit while still alive to cover chronic care expenses. Upon your death, any unused benefit is inherited by your beneficiaries.You may also consider a hybrid life insurance policy that balances various chronic care considerations with traditional life insurance benefits. The right options and coverage amount for you will depend on your financial situation and heath needs. A financial adviser can help you assess the choices and costs.The benefit is this strategy allows you to preserve your retirement assets and avoid relying on government assistance from Medicare or Medicaid. Instead of being funneled to pay for care, you can use your savings for other essential and lifestyle expenses in retirement — or to leave as a legacy for your family.4. Life insurance can help preserve your legacy.Life insurance plays an integral role in allowing you to leave behind a meaningful financial inheritance for your heirs, helping ensure they’re well cared for even in your absence. Whether it’s providing for grandchildren’s education, supporting charitable causes, preserving family assets or another goal, life insurance offers flexibility and liquidity to your heirs.Using a life insurance policy to transfer your wealth has three distinct benefits:Increasing your gift to heirs. The death benefit transfers income-tax-free to beneficiaries. This means you can potentially give a greater after-tax inheritance through your life insurance policy compared to assets in other vehicles.Reducing taxes. Assets held in stocks, bonds, mutual funds and other vehicles generate taxable earnings and may be taxable each year, or when you access the money. If you redistribute a portion of the assets in a life insurance policy, you have an opportunity to potentially reduce ongoing taxation.Creating new wealth. Cash value in a life insurance policy grows tax-deferred, compared to cash held in a bank account that is taxable. This tax treatment gives you the opportunity to grow the assets, potentially creating new wealth for your heirs.Life insurance is personal, and your strategy for leveraging your policy should be, too. Consult a financial adviser for guidance on implementing the best solutions for you. A professional can review your financial circumstances, coverage needs and legacy goals to help you determine how to protect the people in your life you care about most.Third party companies mentioned are not affiliated with Ameriprise Financial, Inc.Ameriprise Financial and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation. Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value. related contentLife Insurance: Let’s Separate the Facts From FictionYes, You Can Be the Beneficiary of Your Own Life Insurance PlanRetirement Planning with Life InsuranceWhat Is Indexed Universal Life Insurance and How Does It Work?Eight Ways to Save Money on Life Insurance

Kiplinger

Four Ways Life Insurance Can Grow and Protect Your Wealth

https://finance.yahoo.com/news/four-ways-life-insurance-grow-093034437.html

8e29729c-6383-391a-a445-57f7ad2b61ff

AMRK

Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that A-Mark Precious Metals, Inc. (NASDAQ:AMRK) is about to go ex-dividend in just 4 days. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order to receive a dividend. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. Meaning, you will need to purchase A-Mark Precious Metals' shares before the 11th of September to receive the dividend, which will be paid on the 26th of September.The upcoming dividend for A-Mark Precious Metals will put a total of US$1.00 per share in shareholders' pockets, up from last year's total dividends of US$0.80. If you buy this business for its dividend, you should have an idea of whether A-Mark Precious Metals's dividend is reliable and sustainable. As a result, readers should always check whether A-Mark Precious Metals has been able to grow its dividends, or if the dividend might be cut. See our latest analysis for A-Mark Precious Metals If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. A-Mark Precious Metals is paying out just 9.2% of its profit after tax, which is comfortably low and leaves plenty of breathing room in the case of adverse events.When a company paid out less in dividends than it earned in profit, this generally suggests its dividend is affordable. The lower the % of its profit that it pays out, the greater the margin of safety for the dividend if the business enters a downturn.Click here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. It's encouraging to see A-Mark Precious Metals has grown its earnings rapidly, up 52% a year for the past five years.Story continuesMany investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. A-Mark Precious Metals has delivered 30% dividend growth per year on average over the past eight years. It's great to see earnings per share growing rapidly over several years, and dividends per share growing right along with it.To Sum It UpHas A-Mark Precious Metals got what it takes to maintain its dividend payments? When companies are growing rapidly and retaining a majority of the profits within the business, it's usually a sign that reinvesting earnings creates more value than paying dividends to shareholders. Perhaps even more importantly - this can sometimes signal management is focused on the long term future of the business. We think this is a pretty attractive combination, and would be interested in investigating A-Mark Precious Metals more closely.In light of that, while A-Mark Precious Metals has an appealing dividend, it's worth knowing the risks involved with this stock. To that end, you should learn about the 2 warning signs we've spotted with A-Mark Precious Metals (including 1 which is a bit unpleasant).Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is It Smart To Buy A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Before It Goes Ex-Dividend?

https://finance.yahoo.com/news/smart-buy-mark-precious-metals-100533114.html

3881442c-190b-3b55-a3df-81e8ec6a84dd

AMRK

A-Mark Precious Metals (AMRK) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.Therefore, the Zacks rating upgrade for A-Mark basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for A-Mark imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.Story continuesHarnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for A-MarkThis precious metals trading company is expected to earn $8.31 per share for the fiscal year ending June 2024, which represents a year-over-year change of -5.1%.Analysts have been steadily raising their estimates for A-Mark. Over the past three months, the Zacks Consensus Estimate for the company has increased 9.9%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of A-Mark to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportA-Mark Precious Metals, Inc. (AMRK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

A-Mark (AMRK) Upgraded to Buy: Here's What You Should Know

https://finance.yahoo.com/news/mark-amrk-upgraded-buy-heres-160006667.html

b1cd3881-890f-3f9f-92e9-d1cefededb73

AMSF

For Immediate ReleaseChicago, IL – August 15, 2023 – Today, Zacks Equity Research discusses Aflac Inc. AFL, Unum Group UNM, Employers Holdings EIG and AMERISAFE AMSF.Industry: Insurance - Accident & HealthLink: https://www.zacks.com/commentary/2136237/4-stocks-to-watch-from-the-prospering-accident-health-insurance-industryThe Zacks Accident and Health Insurance industry is expected to ride on the increase in underwriting exposure. Aflac Inc., Unum Group, Employers Holdings and AMERISAFE should continue to benefit from prudent underwriting standards. However, a rise in claims frequency could weigh on the positives.The industry has been witnessing soft pricing over the past several quarters, which is not expected to change any time soon. Nonetheless, a rise in claims, with business activities returning to normal levels, is likely to increase pricing for this industry. Also, the increasing adoption of technology in operations will help in the smooth functioning of the industry.About the IndustryThe Zacks Accident and Health Insurance industry comprises companies providing workers' compensation insurance, mainly to employers operating in hazardous industries. These companies offer group, individual or voluntary supplemental insurance products. Workers' compensation is a form of accident insurance paid by employers without affecting employees' pay.Claims are generally met by insurers or state-run workers' compensation fund, benefiting both employers and employees. While it boosts employees' morale, and, in turn, productivity, employers stand to benefit from lower claim costs. As awareness about the benefits of having such coverage rises, the future of these insurers seems bright. Per reports published in IBISWorld, the U.S. workers' compensation insurance industry is estimated to grow 0.9% to $55 billion in 2023 based on revenues.3 Trends Shaping the Future of the Accident & Health Insurance IndustryPricing Pressure to Continue: The worker compensation industry has been witnessing pricing pressure over the past several quarters. Given this soft pricing, efforts to retain market share will increase pricing pressure, which might curb top-line growth.Story continuesWith commercial and industrial activities back on track, the demand for insurance coverage is likely to be on the rise. SpendEdge estimates workers' compensation insurance pricing to increase at a five-year (2022-2026) CAGR of 5.25%. Per a report published in Business Insurance, this line of business should continue to remain profitable in 2023 while rates continue to trend downward.Claims Frequency to Improve: The accident and health insurance space has witnessed growth over the years, primarily driven by an increase in benefits offered by employers. The right kind of workers' compensation policy translates into personal care for injured workers, increased productivity, higher employee morale, lower turnover, reduced claims costs and less financial worry amid rising medical costs.Increasing underwriting exposure, sustained decrease in claims frequency rates attributable to a better working environment and conservative reserve levels have been boosting the industry's performance. Per U.S. Bureau of Labor Statistics data in an AmTrust Financial report, workers over the age of 55 will increase to about 25% in 2024 from 21.7% in 2014. Thus, claims could rise based on the degree of severity, the report states.Increasing Adoption of Technology: The industry is witnessing accelerated adoption of technology in operations. Telemedicine has gained pace amid the pandemic. Carriers started selling policies online that appealed to the tech-savvy population. Given the current pandemic, several organizations are working remotely to comply with social distancing norms. Electronic applications, e-signatures, electronic policy delivery, cloud computing and blockchain should help insurers gain a competitive edge. Nonetheless, higher spending on technological advancements will result in escalated expense ratios.Zacks Industry Rank Indicates Bright ProspectsThe group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all member stocks, indicates encouraging near-term prospects. The Zacks Accident and Health Insurance industry, housed within the broader Zacks Finance sector, currently carries a Zacks Industry Rank #37, which places it in the top 15% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.The industry's position in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group's earnings growth potential. The industry's earnings estimate for the current year has moved up 14.1% in a year.We present a few stocks one can buy or retain, given their business advancement endeavors. But before that it's worth taking a look at the industry's performance and current valuation.Industry Outperforms Sector and S&P 500The Accident and Health Insurance industry has outperformed both the Zacks S&P 500 composite and its own sector over the past year. The stocks in this industry have collectively gained 14.4% in the past year compared with the Finance sector's increase of 0.1% and the Zacks S&P 500 composite's increase of 4.2% over the same period.Current ValuationOn the basis of a trailing 12-month price-to-book (P/B), commonly used for valuing insurance stocks, the industry is currently trading at 1.83X compared with the Zacks S&P 500 composite's 5.78X and the sector's 3.11X.Over the past five years, the industry has traded as high as 1.87X, as low as 0.58X and at the median of 1.15X.4 Accident & Health Insurance Stocks for Better ReturnsWe are presenting one Zacks Rank #2 (Buy) stock and three Zacks Rank #3 (Hold) stocks from the Zacks Accident and Health Insurance industry. You can see the complete list of today's Zacks #1 Rank stocks here.Employers Holdings: This Reno, NV-based provider of workers' compensation insurance to small businesses in the low-to-medium hazard industries carries a Zacks Rank #2. EIG should continue to benefit from a solid presence in attractive markets and prudent underwriting.Employers Holdings delivered a trailing four-quarter earnings surprise of 34.08% on average. The Zacks Consensus Estimate for 2023 bottom line has moved 3.2% in the past 30 days. The consensus estimate for 2022 and 2023 indicates a 10.2% and 6.2% year-over-year increase, respectively. The stock has lost 4.4% in a year.Unum Group: Chattanooga, TN-based Unum Group, carrying a Zacks Rank #3, provides long-term care insurance, life insurance, employer- and employee-paid group benefits and related services. The continued rollout of dental products and geographic expansion has been paying off as the acquired dental insurance businesses are growing in the United States and the United Kingdom.The expected long-term earnings growth rate for Unum Group is 7.3%, better than the industry average of 6.4%. The Zacks Consensus Estimate for 2023 and 2024 earnings indicates a year-over-year increase of 22.9% and 3.3%, respectively. UNM delivered a trailing four-quarter earnings surprise of 7.3% on average. The consensus estimate for 2023 and 2024 has moved 0.7% and 0.4% north in the past seven days, respectively, reflecting analysts' optimism. The stock has risen 25.7% in a year.Amerisafe:  DeRidder, LA-based Amerisafe is a specialty provider of workers' compensation insurance. AMSF should continue to gain from its high-hazard niche focus, small to mid-size employer focus, high-hazard underwriting expertise and intensive claims management. A balance sheet with no debt provides Amerisafe plenty of financial flexibility to fund operations, meet financial obligations and weather shocks or unexpected expenses. It carries a Zacks Rank #3.The Zacks Consensus Estimate for 2023 and 2024 has moved 0.3% and 1.2% north, respectively, in the past 30 days. AMSF delivered a trailing four-quarter earnings surprise of 21.66% on average. The stock has gained 5.6% in a year.Aflac Incorporated: This Columbus, GA-based company offers voluntary supplemental health and life insurance products and operates through Aflac Japan and Aflac U.S. Aflac's Argus buyout will provide it with a platform to build the company's network of dental and vision products and further strengthen its U.S. segment.AFL delivered a trailing four-quarter earnings surprise of 7.76% on average. The expected long-term earnings growth rate is pegged at 5.5%. The Zacks Consensus Estimate for 2023 and 2024 indicates an 11.1% and 2.9% year-over-year increase, respectively. The consensus estimate for 2023 and 2024 has moved 32 cents north each in the past 30 days, respectively, reflecting analysts' optimism. The stock has gained 19% in a year. Aflac carries a Zacks Rank #3.Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.See Stocks Free >>Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch/Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.Media ContactZacks Investment Research800-767-3771 ext. [email protected]://www.zacks.comPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance  for information about the performance numbers displayed in this press release.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAflac Incorporated (AFL) : Free Stock Analysis ReportUnum Group (UNM) : Free Stock Analysis ReportAMERISAFE, Inc. (AMSF) : Free Stock Analysis ReportEmployers Holdings Inc (EIG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Zacks Industry Outlook Highlights Aflac, Unum Group, Employers Holdings and AMERISAFE

https://finance.yahoo.com/news/zacks-industry-outlook-highlights-aflac-130300344.html

47691451-bca5-30c8-a83f-c435bb30119c

AMSF

AMERISAFE, Inc. AMSF is well-poised to grow due to rising audit premiums and net investment income. Given the company’s experience in the high-hazard business, it expects to retain policyholders and attract new business in the future.AMERISAFE, with a market cap of $993.5 million, is a leading specialty provider of workers’ compensation insurance, which markets and underwrites its insurance through subsidiaries. The company focuses on providing coverage to small to mid-sized employers engaged in hazardous industries. It primarily operates in trucking, logging, construction, agriculture, maritime and other industries.Zacks Rank & Price RallyAMERISAFE currently carries a Zacks Rank #3 (Hold). The company’s shares have gained 0.2% in the year-to-date period compared with the industry’s 2.2% rise.Zacks Investment ResearchImage Source: Zacks Investment ResearchReturn on Equity (ROE)ROE, a measure reflecting how efficiently a company utilizes shareholders’ money, was 17.7% in the trailing 12 months, better than the industry’s average of 15.9%.Rising EstimatesThe Zacks Consensus Estimate for AMERISAFE’s 2023 earnings is pegged at $2.88 per share. It has witnessed one upward estimate revision in the past 30 days against one in the opposite direction. The company beat earnings estimates in each of the last four quarters.The consensus estimate for 2023 revenues is pegged at $302.6 million, indicating 1.1% growth from the prior-year reported figure.Business TailwindsDue to its vast experience as a provider of workers’ compensation insurance in hazardous industries and a disciplined risk selection approach, AMERISAFE fetches higher premiums. A rebounding economy, strong retention and enhanced agent relations are likely to support its new business growth. Strong audit premiums are expected to drive premium revenues in the future.Net investment income is expected to gain from higher income from higher yields on fixed maturity securities and cash and cash equivalents. The metric increased 19.1% in the second quarter.Story continuesThe company’s strong financial flexibility, with no debt and a solid operating cash flow, is impressive. In the first half of 2023, the company generated an operating cash flow of $20.7 million.The company’s financial flexibility allows it to engage in shareholder-friendly moves. The company handsomely returns capital to investors through share repurchases and dividends. It did not repurchase any shares in the first half of 2023 but paid a quarterly cash dividend of 34 cents per share. Its dividend yield came in at 2.6%, higher than the industry average of 2.4%. As of Jun 30, 2023, $12.6 million was left under the authorized share buyback program.A Risk to Keep an Eye OnThere are a few factors that are impeding growth of AMSF. The company faces stiff market competition, which somewhat affects its pricing. Also, product concentration risks and elevated expenses levels are concerning.Although total expenses decreased 7.9% year over year to $56.1 million in the second quarter, the expense ratio deteriorated. We expect total expenses to increase by 1.2% in 2023. This can affect its future operations. Nevertheless, a systematic and strategic plan will drive AMSF’s long-term growth.Key PicksSome better-ranked stocks in the Accident and Health insurance space are Employers Holdings, Inc. EIG, Trupanion, Inc. TRUP and Aflac Incorporated AFL. Each of these companies presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The consensus mark for Employers Holdings’ current-year earnings indicates a 10.2% year-over-year increase. Furthermore, the consensus estimate for EIG’s revenues in 2023 suggests 20.5% year-over-year growth.The Zacks Consensus Estimate for Trupanion’s current-year earnings has improved 9.2% in the past 30 days. Also, the consensus mark for TRUP’s revenues in 2023 suggests 19.2% year-over-year growth.The consensus mark for Aflac’s current-year earnings indicates a 12.2% year-over-year increase. The Zacks Consensus Estimate for AFL’s current-year earnings has improved 3.3% in the past 30 days.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAflac Incorporated (AFL) : Free Stock Analysis ReportAMERISAFE, Inc. (AMSF) : Free Stock Analysis ReportEmployers Holdings Inc (EIG) : Free Stock Analysis ReportTrupanion, Inc. (TRUP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why You Should Retain AMERISAFE (AMSF) Stock Now

https://finance.yahoo.com/news/heres-why-retain-amerisafe-amsf-172500885.html

14f34ab9-360b-3afc-a5dd-a85e4b5cd967

AMST

Let’s take a look at some of the top AI stocks in August 2023. For the most part, the average investor is familiar with the major names in the sector, such as  Nvidia (NASDAQ:NVDA) and Microsoft (NASDAQ:MSFT). All thanks to their pioneering efforts in the field of artificial intelligence and machine learning. And while both are deserving of attention and have provided explosive gains, investors are left wondering about lower-priced AI stocks that go unnoticed. That’s the focus of this article: AI stocks below $5. They remain unheralded but offer substantial upside that appeals to the risk-tolerant investor. With that, here are some of the top, sometimes overlooked, AI stocks in August 2023.AI Stocks in August 2023: Veritone (VERI) Close-up of letters "AI" written on a computer chip, symbolizing artificial intelligence and AI stocks. ai chip stocksSource: shutterstock.com/YAKOBCHUK VVeritone (NASDAQ:VERI) is an enterprise AI stock that offers multiple solutions targeted toward media firms primarily. The company sells solutions that serve the advertising space in particular and include life-like avatars, speech and voice products, and metaverse-oriented services among others. If for nothing else, Veritoneis worth watching because it’s a company that could carve out a significant position in the AI avatar space. That said, Veritone markets itself as being industry agnostic with a website that is targeting all industries, not media alone. InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe firm’s generative AI products have won awards at industry trade shows and was awarded the product of the year for its avatar product. Veritone is also making major inroads into the intersection of AI and recruiting and recently acquired Broadbean. Veritone’s financials are neither terrible nor particularly impressive. In Q1, revenues fell by 12% to $30.26 million but losses hardly changed at more than $22 million. AI Stocks in August 2023: Amesite (AMST)Hand with pen marking holographic chart with the word "AI". Artificial IntelligenceSource: shutterstock.com/everything possibleAmesite (NASDAQ:AMST) is a company that applies AI technology to course design for schools and businesses. Its stock is one of the most compelling from the standpoint of pure upside potential. With a share price of $3.70 and a target price of $40.80, Amesite offers the potential to multiply investors’ capital. Story continuesOne of the more interesting aspects of Amesite as an investment is how quickly it could turn around. Sales have been stagnant over the last year and totaled under $205,000 during the first quarter of this year. That is very similar to the $209k a year earlier. However, losses are narrowing and went from $2.2 million to $928,000 over that period. Amesite is listed as having 17 employees so it’s reasonable to assume the firm is running very lean in an attempt to find a profitable business model first. If that’s indeed the case, then Amesite could find what works for it, then scale that and become instantly profitable.  AI Stocks in August 2023: SoundHound AI (SOUN) Illustration of hand pointing finger about to touch virtual "AI" graphic. AI StocksSource: shutterstock.com/Den RiseSoundHound AI (NASDAQ:SOUN) is, like Veritone, another stock in the AI voice solutions sector. The company was built on the firm’s proprietary technology in several languages and is sold in the automotive, TV, IoT, and customer service industries. SoundHound AI’s fundamentals are pretty much what investors might expect from a young firm in this sector: Impressive growth balanced by substantial losses. The firm made $6.7 million worth of sales during the first quarter leading to a net loss of $26.37 million. The positive news regarding its losses is that they only increased by 3% during the period. What’s most interesting about SoundHound AI, and a bit difficult to understand, is its backlog. That backlog increased by 46% in Q1 and stood just below $336 million. The company’s products and services seem to be in demand. However, SoundHound AI also seems incapable of delivering those products and services to potential clients and that backlog is getting bigger. If the company can solve that bottleneck it should logically unleash a stream of new income for the firm and propel it higher quickly. Lantern Pharma (LTRN)MSFTSource: ShutterstockLantern Pharma (NASDAQ:LTRN) is a biotech firm leveraging AI in the race to develop therapeutics. It’s no secret that it takes a long time to develop pharmaceuticals, costs a lot of money, and often results in failure. A big part of the issue is that the process of identifying compounds that could become treatments for a given disease is very time-consuming. The so-called drug discovery phase is particularly troublesome. However, AI is applicable to the process and can cut timelines and costs making it a high-priority area. Essentially, AI algorithms can be calibrated to particular purposes and do the work faster than humanly possible. For example, one of Lantern Pharma’s algorithms is calibrated to accurately predict a given compound’s blood-brain-barrier permeability. Blood-brain-barrier permeability affects the efficacy of drugs, particularly those for brain cancer drugs. The firm’s LP-300 compound is being tested in Phase 2 clinical trials in patients with relapsed non-small cell lung cancer (NSCLC) who never smoked. Its balance sheet showed $51.5 million in cash and a net loss of $3.9 million to end Q1. Verses AI (VRSSF) a visual representation of the data underlying an artificial intelligence (AI) powered solution. BBAI stockSource: ShutterstockVerses AI (OTCMKTS:VRSSF) is an over-the-counter stock developing several interesting AI products. Fundamentally it’s heading in the wrong direction: Revenues are shrinking and losses are increasing. Despite all of the obvious risks, it is worth considering given its product suite. So, that’s where we’ll start. Verses AI offers a suite of AI-based products including KOSM, WAYFINDER, and GIA. All three products are either in the early stages of development or are to be released at a later date. GIA is an AI personal assistant that is slated to be released in the third quarter. Not much information is given on it on the firm’s website. WAYFINDER is a dynamic routing service applicable to warehouse order picking and is more developed than GIA. KOSM is arguably the most interesting of Verses AI’s products. The firm bills it as ‘OS for AI’ which means it integrates the software and hardware across systems and leverages AI to deliver more actionable data. It’s a high-minded firm that may simply fail. However, if it can achieve all it hopes to do then expect Verses AI to boom. GSI Technology (GSIT) blue graphic of person's face made of binary code and microchip lines to depict artificial intelligence/AI. Best Value AI StocksSource: shutterstock.com/PeshkovaGSI Technology (NASDAQ:GSIT) is a chip firm that is intimately connected to the development of AI. Its stock is absolutely worth buying despite the firm’s relative anonymity. GSI Technology’s success hinges on its Gemini Associative Processing Unit (APU). APUs fundamentally change data processing with GSI Technology’s Gemini APU directed toward AI in particular. It’s important to understand APUs from a fundamental perspective in order to understand why investing in GSI Technology makes sense. APUs allow data to be processed in parallel rather than serially between the processor and the memory. It’s technically complex but the point is that Gemini APUs will allow greater processing to be done in the AI field. The company is growing but not particularly fast. It continues to produce losses. However, it simply has an interesting product that has the potential to grow rapidly. The company is relatively stable and will remain interesting to investors who have a deep technical understanding of computing processes as they relate to artificial intelligence. ShiftPixy (PIXY) Financial technology concept. Stock chart. Investment. Fintech. artificial intelligence stocks under $10Source: metamorworks / Shutterstock.comShiftPixy (NASDAQ:PIXY) is an AI-driven firm and stock in the human capital space. The company leverages AI to increase the speed of its gig-worker hiring platform. It’s quite simple: Gig workers upload a video interview answering a few questions. Hiring managers then pass acceptable candidates who then pass through an AI-driven experience to start their shift. The company calls this service its ‘Instant Interview’ feature. More generally, ShiftPixy is a gig-economy platform for workforce management. ShiftPixy is in a growing field given the seismic shifts occurring throughout the workforce. Gig work is rising rapidly as traditional employment becomes less common. That said, ShiftPixy is the least attractive of all of the shares discussed here. The firm’s financial statements are difficult to find and not up to date. It is addressing a growth opportunity as the workforce shifts and AI becomes more mainstream. However, investors must note that ShiftPixy is clearly speculative at this point while it offers a real upside. Penny StocksOn Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.More From InvestorPlaceBuy This $5 Stock BEFORE This Apple Project Goes LiveWall Street Titan: Here’s My #1 Stock for 2023The $1 Investment You MUST Take Advantage of Right NowIt doesn’t matter if you have $500 or $5 million. Do this now.The post 7 AI Stocks to Buy Under $5 in August 2023 appeared first on InvestorPlace.

InvestorPlace

7 AI Stocks to Buy Under $5 in August 2023

https://finance.yahoo.com/news/7-ai-stocks-buy-under-010629503.html

2b095ac7-9678-3580-98a0-a7bdae8184df

AMST

Amesite Inc.DETROIT, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Amesite Inc. (NASDAQ: AMST), a leading artificial intelligence software company offering a cloud-based learning platform for business and education markets, announces today the renewal of its partnership with the Central Michigan University (CMU).The U.S. Continuing Education market is expected to from USD 60.52 billion in 2022 to an estimated USD 93.25 billion by 2028, with a compound annual growth rate (CAGR) of approximately 7.47%. There are 474 regional public universities in the US that all stand to benefit from launching professional upskilling programs.Amesite CEO Dr. Ann Marie Sastry said, “Partnership renewals validate our business model. Leveraging our state-of-the-art Version 6.3 platform with the latest GPT-4 technology and our comprehensive integration capabilities, we are able to launch solutions quickly and efficiently that generate sustainable university revenue in professional learning, and drive growth for Amesite.”About Amesite Inc. Amesite delivers its scalable, customizable, white-labeled online learning platform to universities, businesses, museums, and government agencies, enabling them to deliver outstanding digital learning. Amesite provides a single system that combines eCommerce, instruction, engagement, analytics, and administration using best-in-class infrastructure to serve multi-billion-dollar online learning markets. For more information, visit www.amesite.io.Forward Looking StatementsThis communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company's planned online machine learning platform, the Company's business plans, any future commercialization of the Company's online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company's filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.Story continuesInvestor Relations Contact:Christine Petraglia TraDigital IR (917) 633-8980 [email protected]:https://www.prnewswire.com/news-releases/the-us-continuing-education-market-to-reach-93-25-billion-by-2028-chatgpt-opening-up-enormous-opportunities---arizton-301803044.htmlhttps://www.bestcolleges.com/news/defining-regional-public-universities/

GlobeNewswire

Amesite Announces Partnership Renewal with Central Michigan University

https://finance.yahoo.com/news/amesite-announces-partnership-renewal-central-113000075.html

90933e5d-aa6c-3966-abd7-1512d8ed33f7

AMT

American Tower (AMT) closed at $180.89 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's 0.14% gain on the day. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq added 0.09%.Heading into today, shares of the wireless communications infrastructure company had lost 2.35% over the past month, outpacing the Finance sector's loss of 4.09% and lagging the S&P 500's loss of 1.27% in that time.Investors will be hoping for strength from American Tower as it approaches its next earnings release. The company is expected to report EPS of $2.18, down 7.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.76 billion, up 3.2% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.71 per share and revenue of $11.05 billion. These totals would mark changes of -0.51% and +3.15%, respectively, from last year.Investors might also notice recent changes to analyst estimates for American Tower. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.18% lower. American Tower is holding a Zacks Rank of #3 (Hold) right now.Looking at its valuation, American Tower is holding a Forward P/E ratio of 18.79. This represents a premium compared to its industry's average Forward P/E of 10.53.Story continuesMeanwhile, AMT's PEG ratio is currently 1.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.45 based on yesterday's closing prices.The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAmerican Tower Corporation (AMT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

American Tower (AMT) Stock Sinks As Market Gains: What You Should Know

https://finance.yahoo.com/news/american-tower-amt-stock-sinks-220018975.html

70e27a37-1741-3752-9181-228e913eba8e

AMT

American Tower (NYSE: AMT) is one of the largest real estate companies in the world, and, like many REITs, it has been beaten down recently. In this video, Fool.com contributor Tyler Crowe shares his thoughts on why American Tower is down and whether it's a buy right now.Continue reading

Motley Fool

This Massive Dividend Stock Is Down 30% -- Should You Buy the Dip or Stay Away?

https://finance.yahoo.com/m/ab3151bf-d406-319b-9ed7-7100cb9408b6/this-massive-dividend-stock.html

ab3151bf-d406-319b-9ed7-7100cb9408b6

AMTB

Amerant Bancorp Inc.CORAL GABLES, Fla., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Amerant Bancorp Inc. (NASDAQ: AMTB) (the “Company” or “Amerant”) announced today that it is transferring the listing of its common stock to the New York Stock Exchange (“NYSE”) from the Nasdaq Stock Market LLC (“Nasdaq”).Amerant’s common stock is expected to begin trading on the NYSE on Tuesday, August 29, 2023, and will continue to be traded under its current ticker symbol “AMTB”. Amerant’s common stock is expected to continue to trade on Nasdaq until the close of the market on Monday, August 28, 2023. To commemorate the event, members of Amerant’s Senior Leadership Team and its Board of Directors will ring the Opening Bell at the NYSE on Tuesday, August 29, 2023.“We are excited to announce the transfer of our company's stock listing to the NYSE, a significant milestone in our journey as a public company," stated Jerry Plush, Chairman and CEO of Amerant. "This strategic move reflects our confidence in the NYSE's market infrastructure and global visibility, which will enable us to strengthen our position, expand our reach, and create long-term value for all of our stakeholders."“We’re thrilled to welcome Amerant Bancorp to the New York Stock Exchange, the world’s premier listing venue,” said John Tuttle, Vice Chair, NYSE Group. “A Florida-based community bank that seeks to provide customers with high-touch servicing, Amerant will feel right at home in our community of icons and entrepreneurs.”About Amerant Bancorp Inc. (NASDAQ: AMTB)Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiary, Amerant Bank, N.A. (the “Bank”), as well as its other subsidiaries: Amerant Investments, Inc., Elant Bank and Trust Ltd., and Amerant Mortgage, LLC. The Company provides individuals and businesses in the U.S. with deposit, credit and wealth management services. The Bank, which has operated for over 40 years, is the largest community bank headquartered in Florida. The Bank operates 23 banking centers – 17 in South Florida and 6 in the Houston, Texas area, as well as an LPO in Tampa, Florida. For more information, visit investor.amerantbank.com.Story continuesCautionary Notice Regarding Forward-Looking StatementsThis press release contains “forward-looking statements” including statements with respect to the Company’s objectives, expectations and intentions and other statements that are not historical facts. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target,” “goals,” “outlooks,” “modeled,” “dedicated,” “create,” “generate” and other similar words and expressions of the future.Forward-looking statements, including those relating to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company’s actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in “Risk factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2022 filed on March 1, 2023 (the “Form 10-K”), our quarterly report on Form 10-Q for the quarter ended March 31, 2023 filed on May 2, 2023, and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website www.sec.gov.CONTACTS: Investors Laura Rossi [email protected] (305) 460-8728Media Victoria Verdeja [email protected] (305) 441-8414

GlobeNewswire

Amerant Bancorp Announces Transfer of Listing of Common Stock to the New York Stock Exchange

https://finance.yahoo.com/news/amerant-bancorp-announces-transfer-listing-203000291.html

beda6411-cd3e-3827-9cf1-e7186bc8a58b

AMTB

Bank commits to office lease at Cornerstone One office building in Plantation, FL, furthering Amerant’s reach across the whole of Southern FloridaCornerstone One Building EntranceCornerstone One Building EntranceCornerstone One Building LobbyCornerstone One Building LobbyMIAMI, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Amerant Bank, the largest community bank headquartered in Florida, today announced its commitment to a new Broward County Regional Headquarters. The office will be Amerant’s 8th physical location in Broward County, on the heels of the opening of its brand new operations center in Miramar, FL.The new Broward headquarters will be located within the Cornerstone One Building, 1200 South Pine Island Road, Plantation, Florida, where Amerant will occupy approximately 12,000 square feet. The eight-story, 170,000 square foot building is owned by the Atlanta, GA based Brookdale Group. Amerant will occupy the new premises upon completion of its tenant improvements, immediately assuming 5,500 square feet, with an expansion of an additional 7,000 square feet to occur sometime in the second half of 2024.The new office will be home for key lines of business who will contribute with the economic development of the businesses in the area. With this new location, Amerant Bank will now have approximately half of its 600 plus member workforce working in Broward County.“Our new Broward County regional headquarters demonstrates our commitment to this strong and growing market,” said Jerry Plush, Chairman and CEO of Amerant. “Our vision is to be the bank of choice in the markets we serve, and the establishment of a formal regional headquarters here in Broward is essential toward achieving that vision.”“We are excited to welcome Amerant Bank as the newest tenant to Cornerstone One,” said Cory Gibson, Vice President/Investments for The Brookdale Group. “Amerant Bank’s decision to locate their Broward County regional headquarters at Cornerstone One demonstrates the desire for companies to move into high-quality, well-located Class A office buildings in South Florida and adds another exceptional company to the building’s existing Class A tenant base.”Story continuesAmerant, who recently transferred its listing to the New York Stock Exchange, has been opening new branch locations in key target markets across South Florida, such as Key Biscayne in June, and plans to open in both downtown Ft. Lauderdale and downtown Miami later this year. Amerant has complemented these expansion plans with a robust program of strategic partnerships, including multi-year sponsorships as the Official Bank of the Florida Panthers, the Official Bank of the Miami Heat, and the Official Hometown Bank of University of Miami Athletics.Amerant was represented by Jonathan Kingsley from Colliers International in the transaction, while Cornerstone One was represented by Katherine Ridgway of Cushman & Wakefield.For more information about Amerant Bank, visit amerantbank.com and follow on Facebook, Twitter, Instagram and LinkedIn @AmerantBank.###About AmerantAmerant Bank, N.A., is the largest community bank headquartered in Florida and the main subsidiary of Amerant Bancorp Inc. (NYSE: AMTB), with a presence across South Florida and in Tampa, FL, and Houston, TX. The bank has been serving clients for over 40 years and comprises subsidiaries Amerant Investments and Amerant Mortgage. Rooted in the communities it serves, Amerant supports numerous non-profit and community organizations. In 2023, the company was certified as a Most Loved Workplace® by Best Practice Institute. For news and updates, visit the Amerant Newsroom.AttachmentsCornerstone One Building EntranceCornerstone One Building LobbyCONTACT: Victoria Verdeja Amerant Bank 3054415541 [email protected]

GlobeNewswire

Amerant Bank Announces New Broward County Regional Headquarters

https://finance.yahoo.com/news/amerant-bank-announces-broward-county-131500368.html

1e0aafae-6e60-336f-b365-545719c38903

AMTI

When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in Applied Molecular Transport Inc.'s (NASDAQ:AMTI) instance, it's good news for shareholders.Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing. See our latest analysis for Applied Molecular Transport The Last 12 Months Of Insider Transactions At Applied Molecular TransportOver the last year, we can see that the biggest insider purchase was by Independent Director David Lamond for US$211k worth of shares, at about US$3.26 per share. That means that even when the share price was higher than US$0.28 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.Happily, we note that in the last year insiders paid US$360k for 216.50k shares. On the other hand they divested 41.14k shares, for US$79k. In the last twelve months there was more buying than selling by Applied Molecular Transport insiders. They paid about US$1.67 on average. These transactions suggest that insiders have considered the current price attractive. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!insider-trading-volumeApplied Molecular Transport is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.Story continuesHave Applied Molecular Transport Insiders Traded Recently?In the last quarter insiders sold US$2.1k worth of equity. That's not a lot. Ultimately the overall selling isn't enough to tell us much.Does Applied Molecular Transport Boast High Insider Ownership?Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Applied Molecular Transport insiders own 24% of the company, worth about US$2.7m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.So What Does This Data Suggest About Applied Molecular Transport Insiders?While there has not been any insider buying in the last three months, there has been selling. However, the sales are not big enough to concern us at all. On a brighter note, the transactions over the last year are encouraging. Overall we don't see anything to make us think Applied Molecular Transport insiders are doubting the company, and they do own shares. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Case in point: We've spotted 5 warning signs for Applied Molecular Transport you should be aware of, and 3 of them are a bit unpleasant.But note: Applied Molecular Transport may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.Join A Paid User Research SessionYou’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Simply Wall St.

Positive Signs As Multiple Insiders Buy Applied Molecular Transport Stock \

https://finance.yahoo.com/news/positive-signs-multiple-insiders-buy-134445560.html

e50adb99-bf43-38ad-90bf-058f2a3e1a3c

AMTI

Applied Molecular Transport Inc.Currently Pursuing Strategic Alternatives, with MTS Health Partners, L.P. Advising the CompanyCash and Cash Equivalents of $22.5 million, as of June 30, 2023SOUTH SAN FRANCISCO, Calif., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Applied Molecular Transport Inc. (Nasdaq: AMTI) (AMT), a biopharmaceutical company, today reported financial results for the second quarter ended June 30, 2023.Financial Results for the Second Quarter Ended June 30, 2023Research and development (R&D) expenses. Total R&D expenses for the second quarter of 2023 were $2.6 million, compared to $22.8 million for the same period in 2022. The overall decrease was attributable to a restructuring of operations, related reductions in workforce implemented in March 2023 and discontinuing all research and development activities.General and administrative (G&A) expenses. Total G&A expenses for the second quarter of 2023 were $7.0 million, compared to $9.4 million for the same period in 2022. The overall decrease was attributable to a restructuring of operations and related reductions in workforce implemented in March 2023.Restructuring, impairment, and related charges. Total restructuring, impairment, and related charges for the second quarter of 2023 were $8.1 million, primarily comprised of write offs of right-of-use assets and related leasehold improvements upon the company vacating leased premises for its corporate headquarters and manufacturing warehouse. Restructuring charges for the same period in 2022 were $3.8 million, primarily comprised of severance payments and other employee-related separation costs associated with a reduction in workforce implemented in May 2022.Net loss. Net loss for the second quarter of 2023 was $17.3 million, compared to $35.9 million for the same period in 2022. Operating expenses for the second quarter of 2023 were $17.7 million and interest income was $0.4 million.Cash and cash equivalents. As of June 30, 2023, cash and cash equivalents were $22.5 million.Story continuesAbout Applied Molecular Transport Inc.AMT is a clinical-stage biopharmaceutical company that has a proprietary technology platform that enables the design of novel biologic product candidates in patient-friendly oral dosage forms. The company has completed four Phase 2 clinical trials for its most advanced product candidate, AMT-101.For additional information on AMT, please visit www.appliedmt.com.Forward-Looking StatementsThis press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements including statements relating to AMT’s plans, expectations, forecasts and future events. Such forward-looking statements include, but are not limited to, statements regarding the ability of AMT to enter into a strategic transaction and sufficiency of AMT’s cash resources. In some cases, you can identify forward- looking statements by terminology such as “believe,” “estimate,” “intend,” “may,” “plan,” “potentially,” “will,” “expect,” “enable,” “likely” or the negative of these terms or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual events, trends or results could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements based on various factors.   Information regarding the foregoing and additional risks may be found in the section entitled “Risk Factors” in AMT’s Annual and Quarterly Reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission (the “SEC”), and AMT’s future reports to be filed with the SEC. These forward-looking statements are made as of the date of this press release, and AMT assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.Applied Molecular Transport Inc.Condensed Balance Sheets(unaudited)(in thousands)     June 30,2023 December 31,2022Assets   Current assets:   Cash and cash equivalents$22,457  $61,145 Prepaid expenses 860   2,688 Other current assets —   186 Total current assets 23,317   64,019 Property and equipment, net 39   8,183 Operating lease right-of-use assets 1,477   33,222 Finance lease right-of-use assets —   584 Restricted cash —   916 Other assets 127   522 Total assets$24,960  $107,446 Liabilities and stockholders’ equity   Current liabilities:   Accounts payable$156  $1,583 Accrued expenses 2,202   8,660 Lease liabilities, operating lease - current 1,458   4,639 Lease liabilities, finance lease - current —   205 Total current liabilities 3,816   15,087 Lease liabilities, operating lease 254   31,228 Lease liabilities, finance lease —   49 Other liabilities 244   244 Total liabilities 4,314   46,608 Commitments and contingencies   Stockholders’ equity:   Common stock 4   4 Additional paid-in capital 431,862   426,804 Accumulated deficit (411,220)  (365,970)Total stockholders’ equity 20,646   60,838 Total liabilities and stockholders’ equity$24,960  $107,446                 Applied Molecular Transport Inc.Condensed Statements of Operations(unaudited)(in thousands, except share and per share amounts)     Three Months EndedJune 30, Six Months EndedJune 30,  2023   2022   2023   2022 Operating expenses:       Research and development$2,558  $22,802  $15,546  $54,041 General and administrative 7,045   9,433   13,797   20,770 Restructuring, impairment, and related charges 8,129   3,787   16,872   3,787 Total operating expenses 17,732   36,022   46,215   78,598 Loss from operations (17,732)  (36,022)  (46,215)  (78,598)Interest income, net 419   75   998   72 Other income (expense), net (20)  2   (33)  6 Net loss$(17,333) $(35,945) $(45,250) $(78,520)Net loss per share, basic and diluted$(0.44) $(0.93) $(1.15) $(2.03)Weighted-average shares of common stock outstanding, basic and diluted 39,333,046   38,748,741   39,261,122   38,695,350                 Refer to the Company’s applicable SEC filings for previously reported periods.  Investor Relations and Media Contact:Alexandra SantosWheelhouse Life Science [email protected]

GlobeNewswire

Applied Molecular Transport Reports Second Quarter 2023 Financial Results

https://finance.yahoo.com/news/applied-molecular-transport-reports-second-200100430.html

26800280-c5d3-320c-85e0-e5cc08174ea6

AMZN

Nvidia's shares hit a record high in August 2023, as demand for its data center graphics cards shows no signs of slowing down. Given the high demand for its H100 chips and the possibility of panic buying, Nvidia's top-line growth may be affected at least in the short run. Given this backdrop, it might be more prudent for retail investors to opt for other fundamentally strong AI stocks in September.Continue reading

Motley Fool

2 Artificial Intelligence (AI) Stocks to Buy in September 2023 That Could Soar Like Nvidia

https://finance.yahoo.com/m/b85601fd-7c28-3c31-a275-68252595994d/2-artificial-intelligence.html

b85601fd-7c28-3c31-a275-68252595994d

AMZN

The market rally is under pressure, but Amazon and Shopify are stocks to watch that are forging handles in bases.Continue reading

Investor's Business Daily

Amazon Leads 5 Stocks Near Buy Points With A Handle On This Market

https://finance.yahoo.com/m/c31fe833-799d-3694-b303-2b6a735edfd2/amazon-leads-5-stocks-near.html

c31fe833-799d-3694-b303-2b6a735edfd2

AN

Advance Auto Parts, Inc. AAP delivered adjusted earnings of $1.43 per share for second-quarter 2023, down 62% from the year-ago quarter's figure. The reported figure also fell short of the Zacks Consensus Estimate of $1.72 per share. Advance Auto generated net revenues of $2,686 million, which topped the Zacks Consensus Estimate of $2,671 million on lower-than-expected comps decline. Comparable store sales dropped 0.6%. We projected a decline 0.7%. The top line increased 0.8% year over year.Operating income plunged 33.3% year over year to $134.4 million. SG&A expenses totaled $1,013.7 million for second-quarter 2023, up 3% year over year.Advance Auto had cash and cash equivalents of $277.1 million as of Jul 15, 2023, compared with $269.3 million on Dec 31, 2023. Total long-term debt was $1,785.1 million as of Jul 15, 2023, up from $1,188.3 million on Dec 31, 2022. From January through the second quarter of 2023, net cash used by operating activities and negative FCF totaled $164.6 million and $309.4 million, respectively.AAP’s board declared a cash dividend of 25 cents per share, which would be paid out on Oct 27, 2023, to all common shareholders of record as of Oct 13, 2023.As of Jul 15, 2023, AAP operated 4,790 stores and 319 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. It also served 1,307 independently owned Carquest-branded stores across these locations, in addition to Mexico and various Caribbean islands.Advance Auto estimates 2023 net sales in the band of $11.25-$11.35 billion, up from the previous guided range of $11.2-$11.3 billion. Comparable store sales are projected within a range of negative 0.5% to positive 0.5%. Adjusted operating income margin is envisioned in the range of 4-4.3%, down from 5-5.3% guided earlier.Advance Auto expects 2023 capex in the range of $200-$250 million, down from $250-$300 million. The company projects FCF in the band of $150-$250 million, down from the prior guidance of $200-$300 million. Earnings are forecast between $4.50-$5.10 per share, down from the prior estimate of $6-$6.50 per share. AAP aims to open 40 to 60 new stores this year.Story continuesAAP currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Advance Auto Parts, Inc. Price and EPS SurpriseAdvance Auto Parts, Inc. Price and EPS SurpriseAdvance Auto Parts, Inc. price-eps-surprise | Advance Auto Parts, Inc. QuoteKey Releases From the Same SpaceO’Reilly Automotive, Inc. ORLY reported second-quarter 2023 adjusted earnings per share of $10.22, beating the Zacks Consensus Estimate of $10.05. The bottom line increased from $8.78 in the prior-year quarter. The automotive parts retailer registered quarterly revenues of $4,069 million, crossing the Zacks Consensus Estimate of $3,990 million. The top line increased 11% year over year. The total store count was 6,071 as of Jun 30, 2023.ORLY had cash and cash equivalents of $57.9 million at the end of the reported quarter, down from $108.6 million recorded as of 2022-end. Its long-term debt was $4,873.7 million, higher than $4,371.6 million as of Dec 31, 2022.AutoNation, Inc. AN reported second-quarter 2023 adjusted earnings of $6.29 per share, which decreased 2.9% year over year but topped the Zacks Consensus Estimate of $5.83. The earnings beat can be primarily attributed to higher-than-expected new vehicle revenues and profits. In the reported quarter, revenues amounted to $6,890.1 million, surpassing the Zacks Consensus Estimate of $6,645 million. The company had recorded revenues of $6,869.2 million in the second quarter of 2022.AutoNation’s cash and cash equivalents were $63.7 million as of Jun 30, 2023, declining from $72.6 million recorded as of Dec 31, 2022. The company’s liquidity was $1.4 billion, including $64 million in cash and nearly $1.3 billion available under its revolving credit facility.Lithia Motors LAD reported adjusted earnings of $10.91 per share for second-quarter 2023, which declined from the prior-year quarter’s $12.18. The bottom line, nevertheless, surpassed the Zacks Consensus Estimate of $9.19 per share. Total revenues jumped 12% year over year to $8,111.5 million. The top line outpaced the Zacks Consensus Estimate of $7,697 million.Lithia had cash/cash equivalents/restricted cash of $199.7 million as of Jun 30, 2023, down from $246.7 million as of Dec 31, 2022. Long-term debt was $5,414 million as of Jun 30, 2023, up from $5,088.3 million as of Dec 31, 2022.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportO'Reilly Automotive, Inc. (ORLY) : Free Stock Analysis ReportAutoNation, Inc. (AN) : Free Stock Analysis ReportAdvance Auto Parts, Inc. (AAP) : Free Stock Analysis ReportLithia Motors, Inc. (LAD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Advance Auto (AAP) Q2 Earnings Miss, Sales Top Estimates

https://finance.yahoo.com/news/advance-auto-aap-q2-earnings-152100937.html

cafe4699-3db5-3fb7-8b58-7f062a64ec7d

AN

A month has gone by since the last earnings report for Asbury Automotive Group (ABG). Shares have added about 0.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Asbury Automotive due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.Asbury's Q2 Earnings Beat Estimates But Fall Y/YAsbury reported second-quarter 2023 adjusted earnings of $8.95 per share, which decreased 10.9% year over year. Earnings, however, topped the Zacks Consensus Estimate of $8.15 per share. In the reported quarter, revenues amounted to $3,742.5 million, down 5% year over year. The top line, however, surpassed the Zacks Consensus Estimate of $3,741 million.Segment DetailsIn the quarter, new-vehicle revenues rose 4% year over year to $1,942.7 million, beating the Zacks Consensus Estimate of $1,849 million. Gross profit from the segment came in at $185 million, contracting 16.1% from the prior-year quarter but topping the consensus mark of $177 million.Used-vehicle revenues slid 19% from the year-ago figure to $1,107.3 million, missing the consensus mark of $1,135 million. Gross profit from the segment came in at $71 million, which fell 31.7% and missed the Zacks Consensus Estimate of $73 million.Net revenues in the finance and insurance businesses amounted to $166.3 million, down 18% from the year-ago quarter and lagging the consensus mark of $168 million. Gross profit was $165 million, declining 12.2% year over year but outpacing the Zacks Consensus Estimate of $164 million.Revenues from the parts and service business rose 1% from the prior-year quarter to $526.1 million but missed the consensus mark of $546 million. Gross profit from this segment came in at $292 million, inching up 0.7% year over year but missing the consensus estimate of $299 million.Story continuesOther TidbitsAdjusted selling, general & administrative (SG&A) expenses as a percentage of gross profit rose to 57%, marking an increase of 112 basis points year over year. Asbury sold over 11,400 vehicles, an all-time record high, through the “end-to-end” online sales platform, Clicklane.As of Jun 30, 2023, the company had cash and cash equivalents of $77.5 million, down from $235.3 million on Dec 31, 2022. It had long-term debt of $3,240.5 million as of Jun 30, 2023, down from $3,301.2 million on Dec 31, 2022.During the quarter under review, Asbury repurchased approximately 960,000 shares for nearly $190 million. On Jul 24, 2023, Asbury had $250 million in share repurchase authorization remaining.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in fresh estimates.The consensus estimate has shifted 11.31% due to these changes.VGM ScoresAt this time, Asbury Automotive has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. However, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Asbury Automotive has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerAsbury Automotive is part of the Zacks Automotive - Retail and Whole Sales industry. Over the past month, AutoNation (AN), a stock from the same industry, has gained 3.1%. The company reported its results for the quarter ended June 2023 more than a month ago.AutoNation reported revenues of $6.89 billion in the last reported quarter, representing a year-over-year change of +0.3%. EPS of $6.29 for the same period compares with $6.48 a year ago.For the current quarter, AutoNation is expected to post earnings of $5.42 per share, indicating a change of -9.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +2.3% over the last 30 days.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for AutoNation. Also, the stock has a VGM Score of C.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAsbury Automotive Group, Inc. (ABG) : Free Stock Analysis ReportAutoNation, Inc. (AN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Asbury Automotive (ABG) Up 0.2% Since Last Earnings Report?

https://finance.yahoo.com/news/why-asbury-automotive-abg-0-153048980.html

0b52c6d7-bd6a-35f8-9798-ccf21ff36861

ANAB

AnaptysBio, Inc.JEMPERLI is the first immuno-oncology treatment approved in the frontline setting for this patient population in combination with chemotherapyU.S. Food and Drug Administration approval represents a potential significant driver of JEMPERLI royaltiesAnticipate top-line data from two GSK Phase 3 studies that include JEMPERLI to read out in 2024: the FIRST study in first-line ovarian cancer (H1 2024) and the COSTAR study in second-line NSCLC (H2 2024)SAN DIEGO, July 31, 2023 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics, today announced that GSK has received U.S. Food and Drug Administration (FDA) approval for JEMPERLI (dostarlimab-gxly) plus carboplatin and paclitaxel (chemotherapy) for the treatment of adult patients with mismatch repair deficient (dMMR)/microsatellite instability-high (MSI-H) primary advanced or recurrent endometrial cancer. The supplemental Biologics License Application (sBLA) supporting this new indication received Priority Review and was approved ahead of the Sept. 23, 2023 Prescription Drug User Fee Act action date.This approval is supported by interim analysis results from Part 1 of GSK’s Phase 3 RUBY trial. The dual-primary endpoints in Part 1 are investigator-assessed progression-free survival (PFS) and overall survival (OS). The statistical analysis plan included pre-specified analyses of PFS in the dMMR/MSI-H and intent-to-treat (ITT) populations and OS in the overall population. Part 1 of the RUBY trial continues to assess the dual-primary endpoint of OS in the ITT population.“We are excited that JEMPERLI plus chemotherapy has been FDA-approved as the first new frontline treatment option in decades for patients with dMMR/MSI-H primary advanced or recurrent endometrial cancer,” said Daniel Faga, interim president and chief executive officer of AnaptysBio. “We believe that royalties of JEMPERLI from this approval, as well as its potential in first-line ovarian cancer, in combination with Zejula and in second-line NSCLC, in combination with cobolimab, if GSK's ongoing Phase 3 clinical trials lead to approvals, could over time contribute to our strong capital position as we focus on the development of our immune cell modulator pipeline, including our two checkpoint agonists in clinical-stage development, rosnilimab, a PD-1 agonist, and ANB032, a BTLA agonist.”Story continuesJEMPERLI was discovered by AnaptysBio and licensed to TESARO, Inc., now a part of the GSK group of companies, under a Collaboration and Exclusive License Agreement signed in March 2014. GSK is responsible for the ongoing development and commercialization of JEMPERLI. AnaptysBio is entitled to receive milestones and tiered royalties of 8% for net sales of JEMPERLI below $1 billion and 12% up to 25% of net sales above $1 billion. In 2021, AnaptysBio monetized with Sagard Healthcare Royalty Partners certain commercial milestones and royalties for net sales of JEMPERLI below $1 billion up to a certain amount of receivables before such receivables revert back to AnaptysBio.The sBLA supporting this new indication was reviewed under the FDA Oncology Center of Excellence Project Orbis Framework, which allowed for concurrent submission to and review by US and other international regulatory authorities. As part of Project Orbis, the application remains under review in Australia, Canada, Switzerland, Singapore and the United Kingdom. A marketing authorization application is also under review by the European Medicines Agency. About RUBYRUBY is a two-part global, randomized, double-blind, multicenter Phase 3 trial of patients with primary advanced or recurrent endometrial cancer. Part 1 is evaluating dostarlimab plus carboplatin-paclitaxel followed by dostarlimab versus carboplatin-paclitaxel plus placebo followed by placebo. Part 2 is evaluating dostarlimab plus carboplatin-paclitaxel followed by dostarlimab plus niraparib versus placebo plus carboplatin-paclitaxel followed by placebo.The dual-primary endpoints in Part 1 are investigator-assessed PFS based on the Response Evaluation Criteria in Solid Tumors v1.1 and OS. The statistical analysis plan included pre-specified analyses of PFS in the dMMR/MSI-H and ITT populations and OS in the overall population. Pre-specified exploratory analyses of PFS in the mismatch repair proficient (MMRp)/microsatellite stable (MSS) population and OS in the dMMR/MSI-H populations were also performed. RUBY Part 1 included a broad population, including histologies often excluded from clinical trials and had approximately 10% of patients with carcinosarcoma and 20% with serous carcinoma. In Part 2, the primary endpoint is investigator-assessed PFS. Secondary endpoints in Part 1 and Part 2 include PFS per blinded independent central review, overall response rate, duration of response, disease control rate, patient-reported outcomes, and safety and tolerability.About JEMPERLI (dostarlimab-gxly)JEMPERLI is a programmed death receptor-1 (PD-1)-blocking antibody that binds to the PD-1 receptor and blocks its interaction with the PD-1 ligands PD-L1 and PD-L2. JEMPERLI is being investigated in registrational enabling studies, as monotherapy and as part of combination regimens, including in women with recurrent or primary advanced endometrial cancer, women with stage III or IV non-mucinous epithelial ovarian cancer, and in patients with other advanced solid tumors or metastatic cancers.In the U.S., JEMPERLI is indicated for adult patients with mismatch repair-deficient (dMMR) recurrent or advanced endometrial cancer, as determined by an FDA-approved test, that has progressed on or following a prior platinum-containing regimen in any setting and are not candidates for curative surgery or radiation, and in combination with carboplatin and paclitaxel for the treatment of adult patients with primary advanced or recurrent endometrial cancer that is dMMR, as determined by an FDA-approved test, or microsatellite instability-high (MSI-H). The sBLA supporting this new indication received Breakthrough Therapy designation from the FDA. JEMPERLI is also indicated in the U.S. for patients with dMMR recurrent or advanced solid tumors, as determined by an FDA-approved test, that have progressed on or following prior treatment and who have no satisfactory alternative treatment options. The latter indication is approved in the U.S. under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication in solid tumors may be contingent upon verification and description of clinical benefit in a confirmatory trial(s).About AnaptysBioAnaptysBio is a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics. It is developing immune cell modulators, including two checkpoint agonists in clinical-stage development, for autoimmune and inflammatory disease: rosnilimab, its PD-1 agonist, in a planned Phase 2b trial for the treatment of moderate-to-severe rheumatoid arthritis; and ANB032, its BTLA agonist, currently in a Phase 2b trial for the treatment of moderate-to-severe atopic dermatitis. Its preclinical immune cell modulator portfolio includes ANB033, an anti-CD122 antagonist antibody for the treatment of autoimmune and inflammatory diseases. In addition, AnaptysBio has developed two cytokine antagonists available for out-licensing: imsidolimab, an anti-IL-36R antagonist, in Phase 3 for the treatment of generalized pustular psoriasis, or GPP, and etokimab, an anti-IL-33 antagonist for the treatment of respiratory disorders that is Phase 2/3 ready. AnaptysBio has also discovered multiple therapeutic antibodies licensed to GSK in a financial collaboration for immune-oncology, including an anti-PD-1 antagonist antibody (JEMPERLI (dostarlimab-gxly)), an anti-TIM-3 antagonist antibody (cobolimab, GSK4069889) and an anti-LAG-3 antagonist antibody (GSK4074386).Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: the timing of initiation of the company’s clinical trials, including rosnilimab’s clinical trial in rheumatoid arthritis; whether the company will receive any future royalties from JEMPERLI sales; and the company’s ability to find a licensing partner for imsidolimab or etokimab and the timing of any such transaction. Statements including words such as “plan,” “continue,” “expect,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the company’s ability to advance its product candidates, obtain regulatory approval of and ultimately commercialize its product candidates, the timing and results of preclinical and clinical trials, the company’s ability to fund development activities and achieve development goals, the company’s ability to protect intellectual property and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.Contact:Nick MontemaranoSenior Director, Investor Relations and Strategic Communications AnaptysBio, Inc. [email protected]

GlobeNewswire

AnaptysBio- and GSK-Partnered Immuno-Oncology Agent JEMPERLI (dostarlimab-gxly) plus Chemotherapy Approved in the U.S. for dMMR/MSI-H Primary Advanced or Recurrent Endometrial Cancer

https://finance.yahoo.com/news/anaptysbio-gsk-partnered-immuno-oncology-173400628.html

54579902-9061-3586-858a-6af0e8883339

ANAB

AnaptysBio, Inc.Completed enrollment of the GEMINI-1 Phase 3 trial for imsidolimab (IL-36R) in generalized pustular psoriasis (GPP) and anticipate top-line data in Q4 2023Initiating a global Phase 2b trial for rosnilimab, a PD-1 agonist antibody, in rheumatoid arthritis (RA) later in Q3 2023 and a second Phase 2 trial, in an indication yet to be announced, by year-end 2023Daniel Faga appointed to the permanent position of president and chief executive officerReiterating cash runway through year-end 2026 and updated expected year-end 2023 cash and investments of $380 – $395 millionSAN DIEGO, Aug. 07, 2023 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics, today reported operating results for the second quarter ended June 30, 2023 and provided a business update."We have made substantial operating progress including initiating a Phase 2b trial in atopic dermatitis (AD) for ANB032, our BTLA agonist, and approaching initiation of a Phase 2b trial in RA for rosnilimab, our PD-1 agonist,” said Daniel Faga, president and chief executive officer of AnaptysBio. “Additionally, we are excited to share that we recently completed enrollment of the GEMINI-1 Phase 3 clinical trial for imsidolimab in GPP and expect to share top-line data in Q4 2023.”“We are excited to appoint Dan Faga to the permanent position of president and CEO,” said Jamie Topper, M.D., Ph. D., chairman of the Board of Directors. “Over the last year, Anaptys has completed its strategic portfolio review and Dan led the transition refocusing on the broad development of our differentiated immune cell modulators, including our checkpoint agonist pipeline, in autoimmune and inflammatory diseases. With Dan and his talented team in place, and our strong capital position, the company is well positioned as it enters its next phase of development and growth.”Updates on Wholly Owned Immune Cell Modulator PipelineANB032 (BTLA agonist antibody)Story continuesInitiated a global Phase 2b trial in moderate-to-severe AD160-patient placebo-controlled trial assessing three dose levels of subcutaneously administered ANB032 (randomized 1:1:1:1) for a 14-week treatment duration and six-month follow-up period on well established endpoints, including EASI75 and IGA 0/1Top-line week 14 data anticipated by year-end 2024Hosted a virtual BTLA Agonist (ANB032) R&D Event in May 2023Replay of the audio webcast is available hereRosnilimab (PD-1 agonist antibody)Anticipate initiation later in Q3 2023 of a global Phase 2b trial in moderate-to-severe RAMulti-hundred patient placebo-controlled trial assessing three dose levels of subcutaneously administered rosnilimab for up to six months on well-established endpoints including ACR20/50/70 and DAS28Top-line week 12 data anticipated by mid-year 2025Plan to initiate a second global Phase 2 trial, in a yet to-be-announced indication, by year-end 2023Plan to host a virtual PD-1 Agonist (rosnilimab) R&D Event in Q4 2023ANB033 (anti-CD122 antagonist antibody)Presented poster on preclinical data for ANB033, an anti-CD122 antagonist for the treatment of inflammatory diseases, at the Federation of Clinical Immunology Societies (FOCIS) Annual Meeting, in June 2023Poster presentation is available herePlan to submit an Investigational New Drug (IND) application in H1 2024Updates on Legacy Clinical-Stage Cytokine Antagonist Programs Available for Out-LicensingCompleted enrollment of the GEMINI-1 Phase 3 trial for imsidolimab (IL-36R) in GPP per the initial target enrollment (n=45)Top-line data anticipated in Q4 2023Plan to out-license imsidolimab prior to potential FDA approvalUpdates on GSK Immuno-Oncology Financial CollaborationGSK received U.S FDA approval for Jemperli (dostarlimab) in combination with chemotherapy for the treatment of adult patients with mismatch repair deficient (dMMR)/microsatellite instability-high (MSI-H) primary advanced or recurrent endometrial cancer on July 31, 2023Jemperli is the first immuno-oncology treatment approved in the frontline setting for this patient population in combination with chemotherapyGSK anticipates top-line data in H1 2024 from the FIRST Phase 3 trial for platinum-based therapy with dostarlimab and niraparib versus platinum-based therapy as first-line treatment of Stage III or IV nonmucinous epithelial ovarian cancerGSK anticipates top-line data in H2 2024 from COSTAR Lung Phase 3 trial comparing cobolimab plus dostarlimab plus docetaxel to dostarlimab plus docetaxel to docetaxel alone in patients with advanced NSCLC who have progressed on prior anti-PD-(L)1 therapy and chemotherapyOrganizational UpdatesAnnounced appointment of Daniel Faga to the permanent position of president and chief executive officer of the CompanyMr. Faga will retain his position on the Company’s Board of DirectorsAnnounced appointments of Luisa Salter-Cid, Ph.D., and Dolca Thomas, M.D., to the Company's Scientific Advisory Board (SAB)Dr. Salter-Cid is the current chief scientific officer at Pioneering Medicines, a strategic initiative within Flagship Pioneering. She had extensive experience at Bristol-Meyers Squibb where she led teams that advanced more than 20 compounds into clinical development.Dr. Thomas is currently a venture partner at Samsara BioCapital and serves on the Board of Directors of Allakos Therapeutics, Chinook Therapeutics and Ventus Therapeutics. Dr. Thomas has extensive experience in both large pharma and biotech. Among her prior roles includes serving as Principia’s chief medical officer from 2018 until the Sanofi acquisition in September 2020. Dr. Thomas was also vice president and global head of Translational Medicine for Immunology, Inflammation, and Infectious Disease at Roche, where she was responsible for advancing multiple product candidates through clinical development.Read their full bios hereYear-End Cash GuidanceReiterating cash runway through year-end 2026 with updated expected year-end 2023 cash and investments of $380 – $395 millionSecond Quarter Financial ResultsCash, cash equivalents and investments totaled $488.7 million as of June 30, 2023, compared to $584.2 million as of December 31, 2022, for a decrease of $95.5 million. The decrease relates primarily to cash used for the $50 million stock repurchase program and operating activities.Collaboration revenue was $3.5 million and $4.8 million for the three and six months ended June 30, 2023, compared to $1.2 million and $2.2 million for the three and six months ended June 30, 2022. The change is due primarily to increased royalties recognized for sales of Jemperli.Research and development expenses were $32.9 million and $67.9 million for the three and six months ended June 30, 2023, compared to $20.8 million and $43.4 million for the three and six months ended June 30, 2022. The increase was due primarily to manufacturing and development costs for imsidolimab, rosnilimab, ANB032 and ANB033. The R&D non-cash, stock-based compensation expense was $2.7 million and $5.5 million for the three and six months ended June 30, 2023 as compared to $1.8 million and $3.4 million in the same period in 2022.General and administrative expenses were $10.7 million and $21.5 million for the three and six months ended June 30, 2023, compared to $8.2 million and $18.4 million for the three and six months ended June 30, 2022. The G&A non-cash, stock-based compensation expense was $5.7 million and $11.8 million for the three and six months ended June 30, 2023 as compared to $4.9 million and $11.0 million in the same period in 2022.Net loss was $39.8 million and $84.1 million for the three and six months ended June 30, 2023, or a net loss per share of $1.50 and $3.08, compared to a net loss of $32.6 million and $68.8 million for the three and six months ended June 30, 2022, or a net loss per share of $1.15 and $2.46.About AnaptysBioAnaptysBio is a clinical-stage biotechnology company focused on delivering innovative immunology therapeutics. It is developing immune cell modulators, including two checkpoint agonists in clinical-stage development, for autoimmune and inflammatory disease: rosnilimab, its PD-1 agonist, in a planned Phase 2b trial for the treatment of moderate-to-severe rheumatoid arthritis; and ANB032, its BTLA agonist, currently in a Phase 2b trial for the treatment of moderate-to-severe atopic dermatitis. Its preclinical immune cell modulator portfolio includes ANB033, an anti-CD122 antagonist antibody for the treatment of autoimmune and inflammatory diseases. In addition, AnaptysBio has developed two cytokine antagonists available for out-licensing: imsidolimab, an anti-IL-36R antagonist, in Phase 3 for the treatment of generalized pustular psoriasis, or GPP, and etokimab, an anti-IL-33 antagonist for the treatment of respiratory disorders that is Phase 2/3 ready. AnaptysBio has also discovered multiple therapeutic antibodies licensed to GSK in a financial collaboration for immune-oncology, including an anti-PD-1 antagonist antibody (Jemperli (dostarlimab-gxly)), an anti-TIM-3 antagonist antibody (cobolimab, GSK4069889) and an anti-LAG-3 antagonist antibody (GSK4074386).Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: the timing of initiation of the company’s clinical trials, including rosnilimab’s clinical trial in rheumatoid arthritis and in a second indication; the timing of the release of data from the company’s clinical trials, including imsidolimab’s Phase 3 clinical trial in GPP, rosnilimab’s Phase 2b clinical trial in rheumatoid arthritis and ANB032’s Phase 2b clinical trial in atopic dermatitis; the timing of ANB033’s IND filing; timing of the release of data from GSK’s clinical trials; the company’s ability to find a licensing partner for imsidolimab or etokimab and the timing of any such transaction; and the company’s projected cash runway. Statements including words such as “plan,” “continue,” “expect,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the company’s ability to advance its product candidates, obtain regulatory approval of and ultimately commercialize its product candidates, the timing and results of preclinical and clinical trials, the company’s ability to fund development activities and achieve development goals, the company’s ability to protect intellectual property and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.Contact:Nick MontemaranoSenior Director, Investor Relations and Strategic Communications AnaptysBio, Inc. [email protected], Inc.Consolidated Balance Sheets(in thousands, except par value data)(unaudited)  June 30, 2023 December 31, 2022     ASSETSCurrent assets:    Cash and cash equivalents $35,206  $71,308 Receivables from collaborative partners  3,182   1,419 Short-term investments  394,280   369,933 Prepaid expenses and other current assets  5,867   4,545 Total current assets  438,535   447,205 Property and equipment, net  2,023   2,089 Operating lease right-of-use assets  17,047   17,898 Long-term investments  59,239   142,935 Other long-term assets  256   256 Total assets $517,100  $610,383 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:    Accounts payable $4,761  $2,784 Accrued expenses  35,164   21,633 Current portion of operating lease liability  1,706   1,637 Total current liabilities  41,631   26,054 Liability related to sale of future royalties  310,073   304,413 Operating lease liability, net of current portion  16,946   17,813 Stockholders’ equity:    Preferred stock, $0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at June 30, 2023 and December 31, 2022, respectively  —   — Common stock, $0.001 par value, 500,000 shares authorized, 26,531 shares and 28,513 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively  27   29 Additional paid in capital  686,611   717,797 Accumulated other comprehensive loss  (3,611)  (5,246)Accumulated deficit  (534,577)  (450,477)Total stockholders’ equity  148,450   262,103 Total liabilities and stockholders’ equity $517,100  $610,383 AnaptysBio, Inc.Consolidated Statements of Operations and Comprehensive Loss(in thousands, except per share data)(unaudited)  Three Months EndedJune 30, Six Months EndedJune 30,   2023   2022   2023   2022 Collaboration revenue $3,460  $1,216  $4,834  $2,186 Operating expenses:        Research and development  32,923   20,844   67,880   43,360 General and administrative  10,680   8,171   21,498   18,374 Total operating expenses  43,603   29,015   89,378   61,734 Loss from operations  (40,143)  (27,799)  (84,544)  (59,548)Other income (expense), net:        Interest income  4,653   1,107   9,139   1,449 Non-cash interest expense for the sale of future royalties  (4,358)  (5,868)  (8,694)  (10,722)Other income (expense), net  3   6   (1)  12 Total other income (expense), net  298   (4,755)  444   (9,261)Net loss  (39,845)  (32,554)  (84,100)  (68,809)Unrealized (loss) gain on available for sale securities  (344)  (1,427)  1,635   (3,439)Comprehensive loss $(40,189) $(33,981) $(82,465) $(72,248)Net loss per common share:        Basic and diluted $(1.50) $(1.15) $(3.08) $(2.46)Weighted-average number of shares outstanding:        Basic and diluted  26,629   28,204   27,288   27,960 

GlobeNewswire

AnaptysBio Announces Second Quarter 2023 Financial Results and Provides Business Update

https://finance.yahoo.com/news/anaptysbio-announces-second-quarter-2023-201500059.html

933bef6f-c2ca-3932-86c0-2a5cded5c26b

ANEB

Anebulo Pharmaceuticals ANEB was up almost 10.4% on Monday, after receiving a positive FDA response following a Type B meeting held in July related to its lead candidate ANEB-001. The FDA’s positive feedback marks a step forward for Anebulo that will enable it to move forward with the design and execution of phase III study for ANEB-001.ANEB-001 is currently being evaluated in a phase II proof-of-concept for treating patients suffering from acute cannabinoid intoxication (ACI). This candidate is a small molecule cannabinoid receptor antagonist that has the potential to alleviate symptoms of ACI.During the meeting, the FDA suggested that the single well-controlled study of ANEB-001 in ACI patients who arrive at the emergency room, along with a larger study involving THC challenges in enrolled patients, could potentially support the new drug application for ANEB-001.This promising feedback from the FDA marks a crucial step forward for Anebulo, enabling it to move forward with the design and execution of phase III study for ANEB-001.ACI episodes are a growing concern in the United States, especially in states where cannabis have been legalized for medical and recreational use. These episodes often result from consuming large amounts of THC, the primary psychoactive component in cannabis. If ANEB-001 is approved, it could be the first FDA-approved treatment to reverse the effects of THC.Anebulo's shares have rallied 27.5% year to date against the industry's 13.1% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchThe company also completed dosing patients in an open-label part C portion of the phase II study, which is evaluating the safety and efficiency of ANEB-001at higher challenge doses of THC. The part A and part B of the study were completed earlier in March.Data from part A of the study showed positive protective effects of a single oral dose of 50 or 100 mg ANEB-001 when co-administered with an oral challenge dose of 10.5 mg THC.Story continuesPart B of the study showed that a single low oral dose of ANEB-001 (10 mg), when administered an hour after a THC challenge, effectively and significantly reversed key psychotropic effects induced by THC doses as high as 30 mg.Furthermore, Anebulo is conducting an observational pharmacokinetic (PK) study in patients reporting to the emergency department with ACI. Data from both the part C extension and the observational PK study will help the company better understand THC exposures related to ACI.Anebulo Pharmaceuticals, Inc. Price and ConsensusAnebulo Pharmaceuticals, Inc. Price and ConsensusAnebulo Pharmaceuticals, Inc. price-consensus-chart | Anebulo Pharmaceuticals, Inc. QuoteZacks Rank & Stocks to ConsiderAnebulo currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the same industry are Emergent Biosolutions EBS, Annovis Bio ANVS and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 90 days, the Zacks Consensus Estimate for Emergent Biosolutions has widened from a loss of $1.32 per share to a loss of $1.35 for 2023. The bottom-line estimate has gone down from $2.06 to $1.06 for 2024 during the same time frame. Shares of the company have lost 59.7% year to date.EBS’ earnings missed estimates in each of the trailing four quarters, delivering an average negative surprise of 577.88%.In the past 90 days, the Zacks Consensus Estimate for Annovis Bio has narrowed from a loss of $4.89 per share to a loss of $4.38 for 2023. The bottom-line estimate has narrowed from a loss of $3.18 to $2.77 for 2024 during the same time frame. Shares of the company have lost 4.3% year to date.ANVS’ earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 13.40%.In the past 90 days, the Zacks Consensus Estimate for Corcept’s earnings has gone up from 66 cents per share to 78 cents for 2023. The bottom-line estimate has also improved from 64 cents to 83 cents for 2024 during the same time frame. Shares of the company have rallied 54.7% year to date.CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportEmergent Biosolutions Inc. (EBS) : Free Stock Analysis ReportCorcept Therapeutics Incorporated (CORT) : Free Stock Analysis ReportAnnovis Bio, Inc. (ANVS) : Free Stock Analysis ReportAnebulo Pharmaceuticals, Inc. (ANEB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Anebulo (ANEB) Gains on Positive FDA Response for ANEB-001

https://finance.yahoo.com/news/anebulo-aneb-gains-positive-fda-133700643.html

188a31ad-fbf3-381c-824b-fd9bfff5ee15

ANEB

AUSTIN, Texas, August 30, 2023--(BUSINESS WIRE)--Anebulo Pharmaceuticals, Inc. (Nasdaq: ANEB), a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid intoxication (ACI) and substance abuse (the "Company" or "Anebulo"), today announced that it will be giving an investor presentation at the H.C. Wainwright 25th Annual Global Investment Conference, from September 11 to September 13. In addition, the Company announced the acceptance of three presentations at two upcoming scientific conferences, the North American Congress on Clinical Toxicology, taking place in Montreal, from September 29 to October 1, and the American Congress of Emergency Physicians, taking place in Philadelphia from October 9 to October 12. The two oral presentations will focus on data from Parts A and B of the Phase 2 study and the poster will present modeling of ANEB-001 doses for ACI.Details for the upcoming conference presentations are as follows:H.C. Wainwright 25th Annual Global Investment Conference (New York, September 11 – September 13)The Company presentation will be available on-demand on September 11, 2023, at 7 a.m. ET through the conference website.Simon Allen, Chief Executive Officer of Anebulo, will be available in person for one-on-one investor meetings.North American Congress on Clinical Toxicology (Montreal, September 29 – October 1)Oral Presentation Title: Randomized Controlled Trial of ANEB-001 as an Antidote for Acute Cannabinoid Intoxication in Healthy AdultsPresenter: Andrew Monte, MD, Ph.D.Date: Friday, September 29, 2023, from 1 p.m. to 3 p.m. ETAmerican Congress of Emergency Physicians (Philadelphia, October 9 – 12)Poster Presentation Title: Prediction of a Therapeutically Active Dose of the Cannabinoid Type 1 Receptor Antagonist ANEB-001 For Reversal of Acute Cannabis Intoxication Using a Pharmacokinetic / Pharmacodynamic ModelPresenter: Linda Klumpers, Ph.D.Date: Monday, October 9, 2023, at 10:30 a.m. ETLocation: Room 108ABOral Presentation Title: Randomized Controlled Trial of ANEB-001 as an Antidote for Acute Cannabinoid Intoxication in Healthy AdultsPresenter: Andrew Monte, MD, Ph.D.Date: Tuesday, October 10, 2023, at 3:30 p.m. ETLocation: Room 105ABStory continuesAbout the Phase 2 study of ANEB-001Parts A and B of the Phase 2 study were previously conducted in the Netherlands by the CHDR. A total of 134 healthy subjects were enrolled. All subjects received oral THC challenge doses. In total, 91 subjects received single oral doses of ANEB-001. Pharmacodynamic outcomes were assessed by mixed-effect model repeated measures analysis of covariance through 8 hours post-ANEB-001 dosing. Safety was assessed by continuous observation for 24 hours and followed up at 7 to 14 days after treatment. ANEB-001 was well tolerated in this study and there were no serious adverse events. At the 30 mg THC dose, prior to dosing ANEB-001 or placebo, subjects developed mild to moderate THC-related symptoms including moderate euphoria, nausea, and/or vomiting, and mild bradyphrenia, dizziness, paresthesia, and/or feeling emotional. After delayed dosing of 10 mg ANEB-001 or placebo following a 21 mg or 30 mg THC challenge dose, the adverse events considered possibly or probably related to ANEB-001 were mild except for one case of moderate nausea/vomiting at THC doses of 21 mg and 30 mg; the incidence of dizziness and euphoria was greater in the placebo treated subjects. Administration of a high-fat meal delayed the absorption of THC resulting in blunted effects of a 30 mg THC dose on many of the outcomes. However, delayed dosing of 10 mg ANB-001 still significantly reduced VAS feeling high in fed subjects (p=0.0030). Part C of the Phase 2 study was an open-label assessment of higher THC doses administered simultaneously with ANEB-001. The Dutch Ethics Committee has allowed these higher THC doses to be administered to healthy subjects provided that all subjects also receive treatment with ANEB-001.About ANEB-001Our lead product candidate is ANEB-001, a potent, small molecule cannabinoid receptor antagonist, under development to address the unmet medical need for a specific antidote for ACI. ANEB-001 is an orally bioavailable, readily absorbed treatment candidate that we anticipate will rapidly reverse key symptoms of ACI. ANEB-001 is protected by one issued patent and rights to one patent application covering various methods of use of the compound and delivery systems. We began a Phase 2 proof-of-concept trial for ANEB-001 in December 2021 in the Netherlands and announced positive Phase 2 Part A proof-of-concept topline data on July 5, 2022, positive Part B data on September 26, 2022, completed dosing of all subjects in mid-December 2022, and announced preliminary Phase 2 Part B data on January 9, 2023. On March 28, 2023, we announced complete results from Part A and Part B of our Phase 2 clinical trial. We met with the FDA in July for a Type B meeting to discuss these data and the potential path forward to approval and received formal minutes on August 17, 2023. In addition, an observational study in patients presenting to Emergency Departments with ACI is currently ongoing. The study will determine concentrations of cannabinoids and metabolites in plasma and gather information on signs and symptoms, patients’ disposition and selected subjective assessments.About Acute Cannabinoid IntoxicationSymptoms of ACI can include increased somnolence, impaired cognition and perception, disorientation, anxiety, and acute psychosis. A diagnosis of cannabinoid intoxication includes a recent history of cannabinoid use, and clinically considerable behavioral or psychological changes, such as anxiety, panic attacks, euphoria, impaired judgment and motor skills, and elevated heart rate, which have taken place since cannabinoid exposure.About Anebulo Pharmaceuticals, Inc.Anebulo Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid intoxication and substance abuse disorder. Its lead product candidate, ANEB-001, has completed dosing in a Phase 2 clinical trial (www.clinicaltrials.gov/ct2/show/NCT05282797) evaluating its utility in blocking and reversing the negative effects of acute cannabinoid intoxication. ANEB-001 is a competitive antagonist at the human cannabinoid receptor type 1 (CB1). For further information about Anebulo, please visit www.anebulo.com.About The Centre for Human Drug ResearchThe Centre for Human Drug Research (CHDR), located in Leiden, the Netherlands, operates as an independent institute that specializes in early-stage clinical drug research. By merging groundbreaking methodologies, advanced technologies, and exceptional facilities, CHDR enables its clients to maximize their success. CHDR prioritizes the well-being and safety of its participants while actively contributing to the education of medical and clinical research communities. For more information about CHDR, please visit www.chdr.nl.Forward Looking StatementsStatements contained in this press release that are not statements of historical fact are forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, these forward-looking statements can be identified by words such as "anticipate," "designed," "expect," "may," "will," "should" and other comparable terms. Forward-looking statements include statements regarding Anebulo's intentions, beliefs, projections, outlook, analyses or current expectations regarding: the potential for a single well-controlled study of ANEB-001 in ACI patients presenting to the emergency department combined with a larger THC challenge study in volunteers to provide substantial evidence to support a new drug application; the path forward for designing and executing Phase 3 trials with ANEB-001 and whether it is viable and our plans for pursuing Phase 3 development in an efficient matter; the expected timing for results from the open-label Part C extension of our Phase 2 clinical trial; the timing of future updates on the advancement of ANEB-001; future results that may be implied by prior results; the potential for ANEB-001 to address an unmet medical need for a specific antidote for ACI; and Anebulo's expectation that ANEB-001 will rapidly reverse key symptoms of ACI. You are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to a number of risks, uncertainties and assumptions, including, but not limited to: initial and interim results from clinical studies are not necessarily indicative of results that may be observed in the future; the ability to obtain regulatory approval; the Type B meeting minutes should not be relied on as an indication that ANEB-001 will ultimately be approved; the timing and success of clinical trials and potential safety and other complications thereof; any negative effects on the Company's business and product development plans caused by or associated with health crises or geopolitical issues; and Anebulo's need for additional capital. These and other risks are described under the "Risk Factors" heading of Anebulo's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, as filed with the SEC on May 11, 2023. All forward-looking statements made in this press release speak only as of the date of this press release and are based on management's assumptions and estimates as of such date. Except as required by law, Anebulo undertakes no obligation to update or revise forward-looking statements to reflect new information, future events, changed conditions or otherwise after the date of this press release.View source version on businesswire.com: https://www.businesswire.com/news/home/20230830331645/en/ContactsMedia Contact Ignacio Guerrero-Ros, Ph.D.Russo Partners(646) [email protected] Relations Adanna Alexander, Ph.D. or Harrison Seidner, Ph.D.(646) 942-5603(646) [email protected] [email protected] Pharmaceuticals, Inc. Sandra GardinerActing Chief Financial Officer(512) [email protected] Welcome0918

Business Wire

Anebulo Pharmaceuticals to Present at Upcoming Investor and Scientific Conferences

https://finance.yahoo.com/news/anebulo-pharmaceuticals-present-upcoming-investor-120000485.html

e0118186-8f1f-3ff0-8145-92901dde1c65

ANET

In the latest trading session, Arista Networks (ANET) closed at $196.47, marking a +0.48% move from the previous day. This change outpaced the S&P 500's 0.14% gain on the day. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.Coming into today, shares of the cloud networking company had gained 10.91% in the past month. In that same time, the Computer and Technology sector gained 0.07%, while the S&P 500 lost 1.27%.Investors will be hoping for strength from Arista Networks as it approaches its next earnings release. In that report, analysts expect Arista Networks to post earnings of $1.58 per share. This would mark year-over-year growth of 26.4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.48 billion, up 25.68% from the year-ago period.ANET's full-year Zacks Consensus Estimates are calling for earnings of $6.16 per share and revenue of $5.75 billion. These results would represent year-over-year changes of +34.5% and +31.29%, respectively.Investors might also notice recent changes to analyst estimates for Arista Networks. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.46% higher. Arista Networks is currently a Zacks Rank #2 (Buy).Investors should also note Arista Networks's current valuation metrics, including its Forward P/E ratio of 31.72. This represents a premium compared to its industry's average Forward P/E of 22.79.Story continuesAlso, we should mention that ANET has a PEG ratio of 1.69. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Communication - Components industry currently had an average PEG ratio of 1.69 as of yesterday's close.The Communication - Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportArista Networks, Inc. (ANET) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Arista Networks (ANET) Outpaces Stock Market Gains: What You Should Know

https://finance.yahoo.com/news/arista-networks-anet-outpaces-stock-214521535.html

b53177ee-7a82-3bbb-9a53-95c7b1559328

ANET

Arista Networks, Inc. (NYSE:ANET) led the NYSE gainers with a relatively large price hike in the past couple of weeks. With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. But what if there is still an opportunity to buy? Today I will analyse the most recent data on Arista Networks’s outlook and valuation to see if the opportunity still exists. Check out our latest analysis for Arista Networks What's The Opportunity In Arista Networks?According to my valuation model, Arista Networks seems to be fairly priced at around 13.11% above my intrinsic value, which means if you buy Arista Networks today, you’d be paying a relatively fair price for it. And if you believe the company’s true value is $173.70, there’s only an insignificant downside when the price falls to its real value. Is there another opportunity to buy low in the future? Since Arista Networks’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market.Can we expect growth from Arista Networks?earnings-and-revenue-growthFuture outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. Arista Networks' earnings over the next few years are expected to increase by 38%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.What This Means For YouAre you a shareholder? It seems like the market has already priced in ANET’s positive outlook, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the track record of its management team. Have these factors changed since the last time you looked at the stock? Will you have enough confidence to invest in the company should the price drop below its fair value?Story continuesAre you a potential investor? If you’ve been keeping an eye on ANET, now may not be the most optimal time to buy, given it is trading around its fair value. However, the optimistic prospect is encouraging for the company, which means it’s worth further examining other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. For example, we've discovered 1 warning sign that you should run your eye over to get a better picture of Arista Networks.If you are no longer interested in Arista Networks, you can use our free platform to see our list of over 50 other stocks with a high growth potential.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is There Now An Opportunity In Arista Networks, Inc. (NYSE:ANET)?

https://finance.yahoo.com/news/now-opportunity-arista-networks-inc-110019812.html

b2bef4bc-ff0f-3810-b836-d137d5df22e1

ANSS

Ansys Inc (NASDAQ:ANSS) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at $321.04, Ansys Inc has witnessed a surge of 1.13% over a period, marked against a three-month change of -1.49%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that Ansys Inc is well-positioned for substantial growth in the near future.Warning! GuruFocus has detected 6 Warning Signs with ANSS. Click here to check it out. ANSS 30-Year Financial DataThe intrinsic value of ANSSUnveiling the Investment Potential of Ansys Inc (ANSS): A Comprehensive Analysis of Financial Strength and Growth ProspectsDecoding the GF ScoreThe GF Score is a stock performance ranking system developed by GuruFocus using five aspects of valuation, which has been found to be closely correlated to the long-term performances of stocks by backtesting from 2006 to 2021. The stocks with a higher GF Score generally generate higher returns than those with a lower GF Score. Therefore, when picking stocks, investors should invest in companies with high GF Scores. The GF Score ranges from 0 to 100, with 100 as the highest rank.Here is a breakdown of Ansys Inc's GF Score:1. Financial strength rank: 8/102. Profitability rank: 10/103. Growth rank: 10/104. GF Value rank: 7/105. Momentum rank: 9/10Each one of these components is ranked and the ranks also have positive correlation with the long term performances of stocks. The GF score is calculated using the five key aspects of analysis. Through backtesting, we know that each of these key aspects has a different impact on the stock price performance. Thus, they are weighted differently when calculating the total score. With high ranks in financial strength, profitability, and growth, and commendable ranks in GF value and momentum, GuruFocus assigned Ansys Inc the GF Score of 99 out of 100, which signals the highest outperformance potential.Understanding Ansys Inc's BusinessAnsys Inc is an engineering software company with a market cap of $27.86 billion. The company provides simulation capabilities for structural, fluids, semiconductor power, embedded software, optical, and electromagnetic properties. With sales amounting to $2.17 billion and an operating margin of 27.93%, Ansys employs over 4,000 people and serves over 50,000 customers globally, including those in aerospace defense and automotive. This robust business model and diverse customer base underscore the company's strong market position.Story continuesUnveiling the Investment Potential of Ansys Inc (ANSS): A Comprehensive Analysis of Financial Strength and Growth ProspectsFinancial Strength BreakdownAccording to the Financial Strength rating, Ansys Inc's robust balance sheet exhibits resilience against financial volatility, reflecting prudent management of capital structure. The Interest Coverage ratio for Ansys Inc stands impressively at 16.2, underscoring its strong capability to cover its interest obligations. With an Altman Z-Score of 11.6, Ansys Inc exhibits a strong defense against financial distress, highlighting its robust financial stability. With a favorable Debt-to-Revenue ratio of 0.4, Ansys Inc's strategic handling of debt solidifies its financial health.Profitability Rank BreakdownThe Profitability Rank shows Ansys Inc's impressive standing among its peers in generating profit. The Piotroski F-Score confirms Ansys Inc's solid financial situation based on Joseph Piotroski's nine-point scale, which measures a company's profitability, funding and operating efficiency. Ansys Inc's strong Predictability Rank of 4.5 stars out of five underscores its consistent operational performance, providing investors with increased confidence.Growth Rank BreakdownRanked highly in Growth, Ansys Inc demonstrates a strong commitment to expanding its business. The company's 3-Year Revenue Growth Rate is 10.2%, which outperforms better than 55.58% of 2393 companies in the Software industry. Moreover, Ansys Inc has seen a robust increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past few years. Specifically, the three-year growth rate stands at 6.1, and the rate over the past five years is 7.3. This trend accentuates the company's continued capability to drive growth.Unveiling the Investment Potential of Ansys Inc (ANSS): A Comprehensive Analysis of Financial Strength and Growth ProspectsConclusionGiven Ansys Inc's strong financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights the firm's unparalleled position for potential outperformance. This analysis underscores the importance of comprehensive financial evaluation in identifying investment opportunities with high growth potential. GuruFocus Premium members can find more companies with strong GF Scores using the following screener link: GF Score ScreenThis article first appeared on GuruFocus.

GuruFocus.com

Unveiling the Investment Potential of Ansys Inc (ANSS): A Comprehensive Analysis of Financial ...

https://finance.yahoo.com/news/unveiling-investment-potential-ansys-inc-170357940.html

ba97a110-1d62-3029-9351-fd72c8783776

ANSS

Ansys computational fluid dynamics (CFD) simulation solutions will enable F1 in Schools teams to design, test, and optimize their race cars  / Key HighlightsAnsys' partnership with F1 in Schools extends its support for science, technology, engineering, and math (STEM) initiatives, reaching hundreds of thousands of school-age children in 58 countriesPartnership to take effect ahead of the September kickoff of the 2023-2024 F1 in Schools racing season, ensuring students have access to the tools they need to successfully compete throughout the yearPITTSBURGH, Sept. 7, 2023 /PRNewswire/ -- Ansys (NASDAQ: ANSS) entered into a partnership with the F1 in Schools organization to provide CFD simulation solutions for participating student teams representing 58 countries. F1 in Schools creates a positive global impact on F1® and STEM by engaging students of all abilities in engineering competitions, while introducing future workforce skills and inspiring career opportunities. Ansys joins F1 in Schools global CAD partner Autodesk to extend an existing strategic partnership that connects students with real-world engineering tools throughout the competition.Team Sonic Boom's F1 in Schools car design.F1 in Schools competitions feature teams of school-age students who design, build, and race miniature F1® cars using engineering software and cutting-edge manufacturing technology. To be successful, teams need simulation tools to design, test, and optimize their race cars. The introduction of Ansys CFD solutions will give student teams exposure to a valuable skillset while unlocking engineering insights that can lead to enhanced race car designs."F1 in Schools remains committed to delivering exciting, challenging educational experiences through the appeal of Formula One to raise awareness around STEM, and create memorable experiences for students from around the world," said Andrew Denford, founder and chairman, F1 in Schools. "Our partnerships with Autodesk, and now Ansys, help students make valuable connections between the power of teamwork and cutting-edge tools to address engineering challenges—skills that will propel them forward in their studies and future professional lives."Story continuesWith access to Ansys CFD solutions through Ansys Discovery, students can quickly design and optimize their cars and gain real world experience at the same time. Several F1 student teams have worked previously with Ansys, including members of German team Sonic Boom. Last season, Sonic Boom reached the global finals, and won a high-profile elimination event against the competition's 16 fastest cars."At a certain point during the design process, we realized we needed very accurate simulation to compete effectively, so we contacted Ansys," said Florian Wolf, design engineer for Team Sonic Boom. "Ansys' meshing capabilities provided us with positive results overall for our design and allowed us to gain great professional simulation experience. Simulation was our final optimization step and involved running many CFD iterations to secure a perfect result — which was designing the best cars we've ever made.""We are proud to partner with F1 in Schools in fostering innovation, diversity, and skill development among the next generation of engineers," said Prith Banerjee, chief technology officer at Ansys. "This collaboration helps nurture future engineering leaders by leveling the playing field and creating gender-balanced and inclusive real-life learning opportunities for students around the world."/ About AnsysWhen visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys.Take a leap of certainty … with Ansys.Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners.ANSS–TAbout F1 in SchoolsF1 in Schools is a not-for-profit social enterprise aiming to change the perception of STEM-related subjects through global competition. Students aged 9-19 take part in a multi-disciplinary challenge in which they use professional CAD software to design, analyse, manufacture, test, and race miniature compressed air-powered car from a model block. Many students have gone on to have fruitful careers with F1 teams, founded on their success in F1 in Schools./ ContactsMedia         Mary Kate [email protected]       Kelsey [email protected] Ansys logo. (PRNewsFoto/ANSYS, Inc.)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/ansys-global-partnership-with-f1-in-schools-empowers-and-inspires-new-generation-of-engineers-301920078.htmlSOURCE Ansys

PR Newswire

Ansys' Global Partnership with F1 in Schools Empowers and Inspires New Generation of Engineers

https://finance.yahoo.com/news/ansys-global-partnership-f1-schools-130000462.html

ed2a3971-c3ce-3f23-a6fa-9bbb0a6ca4b9

AON

Aon plc’s AON shares have jumped 14% in the past year, outperforming the 13.3% increase of the industry, thanks to strong P&C business retention and new business generation. Also, solid performance in Health Solutions, especially in EMEA, Latin America and the United Kingdom is benefiting the stock.Headquartered in Dublin, Ireland, Aon provides risk management services, insurance and reinsurance brokerage, human resource consulting and outsourcing services worldwide. It has a market cap of $66.8 billion and operates in more than 120 countries.Zacks Investment ResearchImage Source: Zacks Investment ResearchCan It Retain Momentum?The answer is yes, thanks to rising estimates, growing operating strength and its profitability-increasing initiatives.The Zacks Consensus Estimate for 2023 earnings per share currently stands at $14.26, signaling a 6.5% year-over-year increase. It has witnessed one upward estimate revision in the past month against none in the opposite direction. AON beat earnings estimates in two of the last four quarters and missed on the other occasions, with an average surprise of 0.5%. This is depicted in the graph below.The Zacks Consensus Estimate for 2023 revenues is pegged at $13.3 billion, indicating a 6.2% year-over-year rise. Over the long run, AON expects to witness mid-single-digit or more organic growth. This Zacks Rank #3 (Hold) company is poised for long-term growth on the back core business strengthening initiatives, inorganic growth strategies and improving operations in different regions.It is expected to witness improvement in performance in most of its revenue lines in the coming days. Our estimate for 2023 Commercial Risk Solutions revenues indicates 4.5% year-over-year growth, on the back of strong operations in different geographical locations, mostly in Asia and Pacific regions. We expect there’s more room for growth in Commercial Risk than it has witnessed so far.Similarly, its Reinsurance Solutions unit is expected to grow from Strategy and Technology Group performance. We expect the unit’s 2023 revenues to grow 10.5% year over year. Continued growth in EMEA, Latin America and the United Kingdom is expected to boost its Health Solutions revenues. Our estimate for the unit’s 2023 revenues indicates a more than 6% increase from a year ago. The company’s focus on these two units is reflected in its talent investments.Story continuesManagement does not shy away from getting rid of less profitable assets to increase profitability. Historically speaking, in the 2011-2021 period, it completed 123 divestments for around $5.7 billion. We expect the company’s business streamlining moves to continue, allowing it to focus on more profitable operations and generate higher returns. AON’s trailing 12-month return on capital of 29.1% compares favorably with the industry average of 11.8%.RisksDespite the upside potential, there are a few factors that can hold back AON’s growth. Lack of M&A and IPO activities, which provides insurance contracts from non-recurring businesses, are expected to keep its growth potential under check in the second half of the year. Also, its debt-laden balance sheet induces a rise in interest expenses. In the first half of 2023, interest expenses escalated 25% year over year. Nevertheless, we believe that a systematic and strategic plan of action will drive its long-term growth.Key Picks in FinanceSome better-ranked players in the broader Finance space include Aegon N.V. AEG, Trupanion, Inc. TRUP and Employers Holdings, Inc. EIG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Aegon’s current year earnings indicates 42.1% year-over-year growth. In the past 30 days, AEG has witnessed one upward estimate revision against none in the opposite direction.The Zacks Consensus Estimate for Trupanion’s current year earnings has improved 9.2% in the past 60 days. It has witnessed four upward estimate revisions during this time against no movement in the opposite direction. Also, the consensus mark for TRUP’s revenues in 2023 suggests 19.5% year-over-year growth.The consensus mark for Employers Holdings’ current year earnings indicates a 14.3% year-over-year increase. It has witnessed one upward estimate revision in the past 60 days against no downward movement. Furthermore, the consensus estimate for EIG’s revenues in 2023 suggests 20.5% year-over-year growth.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAegon NV (AEG) : Free Stock Analysis ReportAon plc (AON) : Free Stock Analysis ReportEmployers Holdings Inc (EIG) : Free Stock Analysis ReportTrupanion, Inc. (TRUP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AON Stock Jumps 14% in a Year: More Growth on the Horizon?

https://finance.yahoo.com/news/aon-stock-jumps-14-more-153300410.html

36e69522-a323-3eae-80fb-1eaaccda7334

AON

Employers and workers are expected to see an increase of about 6.5% or higher in the cost of their health plans next year.Continue reading

The Wall Street Journal

Health-Insurance Costs Are Taking Biggest Jumps in Years

https://finance.yahoo.com/m/e5ba8e2f-5d56-34ad-b5d2-f1b66845b003/health-insurance-costs-are.html

e5ba8e2f-5d56-34ad-b5d2-f1b66845b003

AORT

Shares of Artivion (AORT) have gained 5.1% over the past four weeks to close the last trading session at $16.56, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $25.30 indicates a potential upside of 52.8%.The mean estimate comprises five short-term price targets with a standard deviation of $3.19. While the lowest estimate of $20 indicates a 20.8% increase from the current price level, the most optimistic analyst expects the stock to surge 69.1% to reach $28. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.However, an impressive consensus price target is not the only factor that indicates a potential upside in AORT. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?Story continuesThey usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.Why AORT Could Witness a Solid UpsideThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.The Zacks Consensus Estimate for the current year has increased 55.6% over the past month, as one estimate has gone higher compared to no negative revision.Moreover, AORT currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Therefore, while the consensus price target may not be a reliable indicator of how much AORT could gain, the direction of price movement it implies does appear to be a good guide.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportArtivion, Inc. (AORT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Does Artivion (AORT) Have the Potential to Rally 52.78% as Wall Street Analysts Expect?

https://finance.yahoo.com/news/does-artivion-aort-potential-rally-135525823.html

35b7bf6e-4ea8-37d5-beee-3195158484b2

AORT

Artivion (AORT) closed the last trading session at $17.52, gaining 2.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $25.30 indicates a 44.4% upside potential.The average comprises five short-term price targets ranging from a low of $20 to a high of $28, with a standard deviation of $3.19. While the lowest estimate indicates an increase of 14.2% from the current price level, the most optimistic estimate points to a 59.8% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.However, an impressive consensus price target is not the only factor that indicates a potential upside in AORT. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?Story continuesThey usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.Here's Why There Could be Plenty of Upside Left in AORTThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.The Zacks Consensus Estimate for the current year has increased 55.6% over the past month, as one estimate has gone higher compared to no negative revision.Moreover, AORT currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Therefore, while the consensus price target may not be a reliable indicator of how much AORT could gain, the direction of price movement it implies does appear to be a good guide.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportArtivion, Inc. (AORT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Wall Street Analysts Believe Artivion (AORT) Could Rally 44.41%: Here's is How to Trade

https://finance.yahoo.com/news/wall-street-analysts-believe-artivion-135506303.html

cf9bc2d2-4ecc-3218-b66e-626ebed860bb

AOS

A. O. Smith is an industry leader, and the company's sales in emerging markets are important to it staying a leader.Continue reading

Motley Fool

China and India Drive A. O. Smith to Record Results. Time to Buy the Stock?

https://finance.yahoo.com/m/35ffb482-eb1a-3c6e-a569-1014b34b60d9/china-and-india-drive-a-o-.html

35ffb482-eb1a-3c6e-a569-1014b34b60d9

AOS

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. And in light of that, the trends we're seeing at A. O. Smith's (NYSE:AOS) look very promising so lets take a look.Understanding Return On Capital Employed (ROCE)For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on A. O. Smith is:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.29 = US$700m ÷ (US$3.2b - US$861m) (Based on the trailing twelve months to June 2023).So, A. O. Smith has an ROCE of 29%. In absolute terms that's a great return and it's even better than the Building industry average of 15%. Check out our latest analysis for A. O. Smith roceAbove you can see how the current ROCE for A. O. Smith compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.What Can We Tell From A. O. Smith's ROCE Trend?A. O. Smith has not disappointed with their ROCE growth. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 22% in that same time. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.Story continuesIn Conclusion...As discussed above, A. O. Smith appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. Considering the stock has delivered 30% to its stockholders over the last five years, it may be fair to think that investors aren't fully aware of the promising trends yet. So with that in mind, we think the stock deserves further research.One more thing, we've spotted 2 warning signs facing A. O. Smith that you might find interesting.If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

A. O. Smith (NYSE:AOS) Could Become A Multi-Bagger

https://finance.yahoo.com/news/o-smith-nyse-aos-could-140830362.html

ec24c1f8-d4fd-305a-a20a-c6224a0b21af

AP

Air and Liquid Processing segment sales increased 29% for Q2 and 35% YTD compared to prior year periodsJune YTD operating income more than triple prior yearEPS of $0.02 for Q2 2023 and $0.06 for 2023 YTDCARNEGIE, Pa., August 09, 2023--(BUSINESS WIRE)--Ampco-Pittsburgh Corporation (NYSE: AP) reported net sales of $107.2 million and $212.0 million for the three and six months ended June 30, 2023, respectively, compared to $102.6 million and $197.0 million for the three and six months ended June 30, 2022, respectively. The increase is primarily attributable to higher sales in the Air and Liquid Processing segment driven by improved volumes.Commenting on the quarter, Ampco-Pittsburgh’s CEO, Brett McBrayer, said, "The Air and Liquid segment led the way in sales growth for both the quarter and year-to-date, and its order intake continues to set new records in Air and Liquid segment backlog, which increased 43% compared to a year ago and 14% sequentially. Despite some higher operating costs in the Forged and Cast Engineered Products segment and lower demand in the oil and gas and steel distribution markets for forged products, roll demand on balance has remained solid and pricing has kept pace with material and energy costs. Year-to-date consolidated operating income is more than three times last year’s level. The new equipment in our US forged business is now in various stages of installation and this spending program remains on track for full completion by the end of this year, setting the stage for improved efficiencies in 2024."Income from operations for the three and six months ended June 30, 2023, was $3.3 million and $5.3 million, respectively, compared to $2.1 million and $1.6 million for the three and six months ended June 30, 2022, respectively. The three and six months ended June 30, 2023, include a benefit from a $1.9 million government energy credit received by one of the Corporation’s wholly owned foreign subsidiaries whereas the prior year-to-date period includes a $1.4 million benefit resulting from a change in an employee benefit policy.Story continuesInterest expense for the three and six months ended June 30, 2023, increased in comparison to the same periods of the prior year due to increasing interest rates and higher borrowings, in part, due to ongoing expenditures associated with the strategic capital investment program for the domestic roll operations. Other – net declined for the three and six months ended June 30, 2023, compared to the same periods of the prior year, primarily due to losses on foreign exchange versus gains for the prior year periods.Net income for the current year periods was significantly impacted by the higher interest costs and changes in foreign exchange gains and losses and equaled $0.4 million, or $0.02 per diluted share, and $1.1 million, or $0.06 per diluted share, for the three and six months ended June 20, 2023, respectively. This compares to net income of $2.8 million, or $0.14 per diluted share, and $2.8 million, or $0.14 per diluted share, for the three and six months ended June 30, 2022, respectively. The government energy credit improved earnings per share by $0.10 for the three and six months ended June 30, 2023, whereas the benefit resulting from a change in an employee benefit policy improved earnings per share by $0.07 for the six months ended June 30, 2022.Segment ResultsForged and Cast Engineered ProductsWhile comparable on a year-to-date basis, sales for the Forged and Cast Engineered Products segment for the three months ended June 30, 2023, declined slightly from the same period of the prior year primarily due to lower demand from the steel distribution and oil and gas markets partially offset by a higher volume of mill roll shipments. Operating results for the three and six months ended June 30, 2023, improved when compared to the same periods of the prior year primarily due to improved pricing, net of lower variable-index surcharges. Although operating results for the three and six months ended June 30, 2023, include the $1.9 benefit for the foreign energy credit, this was partly offset by the lower volume of shipments to the steel distribution and oil and gas markets.Air and Liquid ProcessingSales for the Air and Liquid Processing segment for the three and six months ended June 30, 2023, improved 29% and 35%, respectively, compared to the same periods of the prior year due to a higher volume of shipments for each division. Operating results for the three and six months ended June 30, 2023, improved 15% and 13%, respectively, compared to the same periods of the prior year on the higher volumes but were adversely affected by product mix, higher selling and administrative costs, and the non-recurring $0.7M benefit recorded in the six months ended June 30, 2022 related to the change in employee benefit policy.Teleconference AccessAmpco-Pittsburgh Corporation will hold a conference call on Thursday, August 10, 2023, at 10:30 a.m. Eastern Time (ET) to discuss its financial results for the second quarter ended June 30, 2023. The Corporation encourages participants to pre-register at any time, including up to and after the call start time via this link: https://dpregister.com/sreg/10181323/fa0a5e2f8d. Those without internet access or unable to pre-register should dial in at least five minutes before the start time using:Domestic: 1-844-308-3408International: 1-412-317-5408For those unable to listen to the live broadcast, a replay will be available one hour after the event concludes on the Corporation’s website under the Investors menu at www.ampcopgh.com.About Ampco-Pittsburgh CorporationAmpco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industries. It also manufactures open-die forged products that are sold principally to customers in the steel distribution market, oil and gas industry, and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden, and Slovenia and participates in three operating joint ventures located in China. It has sales offices in North America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.Forward-Looking StatementsThe Private Securities Litigation Reform Act of 1995 (the "Act") provides a safe harbor for forward-looking statements made by us or on behalf of the Corporation. This press release may include, but is not limited to, statements about operating performance, trends and events that the Corporation expects or anticipates will occur in the future, statements about sales and production levels, restructurings, the impact from global pandemics, profitability and anticipated expenses, inflation, the global supply chain, future proceeds from the exercise of outstanding warrants, and cash outflows. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looking statements" within the meaning of the Act and words such as "may," "will," "intend," "believe," "expect," "anticipate," "estimate," "project," "forecast" and other terms of similar meaning that indicate future events and trends are also generally intended to identify forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made, are not guarantees of future performance or expectations, and involve risks and uncertainties. For the Corporation, these risks and uncertainties include, but are not limited to: economic downturns, cyclical demand for our products and insufficient demand for our products; excess global capacity in the steel industry; fluctuations in the value of the U.S. dollar relative to other currencies; increases in commodity prices or insufficient hedging against increases in commodity prices, reductions in electricity and natural gas supply or shortages of key production materials for us or our customers; limitations in availability of capital to fund our strategic plan; inability to maintain adequate liquidity to meet our operating cash flow requirements, repay maturing debt and meet other financial obligations; inability to obtain necessary capital or financing on satisfactory terms to acquire capital expenditures that may be necessary to support our growth strategy; inoperability of certain equipment on which we rely and/or our inability to execute our capital expenditure plan; liability of our subsidiaries for claims alleging personal injury from exposure to asbestos-containing components historically used in certain products of our subsidiaries; changes in the existing regulatory environment; inability to successfully restructure our operations and/or invest in operations that will yield the best long term value to our shareholders; consequences of global pandemics and international conflicts; work stoppage or another industrial action on the part of any of our unions; inability to satisfy the continued listing requirements of the New York Stock Exchange or the NYSE American Exchange; potential attacks on information technology infrastructure and other cyber-based business disruptions; failure to maintain an effective system of internal control; and those discussed more fully elsewhere in Item 1A, Risk Factors outlined in Part I of the Corporation’s latest Annual Report on Form 10-K and Part II of the latest Quarterly Report on Form 10-Q. The Corporation cannot guarantee any future results, levels of activity, performance, or achievements. In addition, there may be events in the future that we are not able to predict accurately or control which may cause actual results to differ materially from expectations expressed or implied by forward-looking statements. Except as required by applicable law, we assume no obligation, and disclaim any obligation, to update forward-looking statements whether as a result of new information, events or otherwise.AMPCO-PITTSBURGH CORPORATIONFINANCIAL SUMMARY(in thousands, except per share amounts)Three Months EndedJune 30,Six Months EndedJune 30,2023202220232022Net sales$107,211$102,582$212,014$197,008Cost of products sold (excl. depreciation and amortization)85,47185,083171,843165,599Selling and administrative14,09310,97426,28020,852Depreciation and amortization4,3544,4408,7288,927Loss (gain) on disposal of assets51(118)(1)Total operating expenses103,923100,498206,733195,377Income from operations3,2882,0845,2811,631Other (expense) income:Investment-related income72166Interest expense(2,245)(1,204)(4,316)(2,198)Other – net982,4331,4653,845Total other (expense) income – net(2,140)1,231(2,835)1,653Income before income taxes1,1483,3152,4463,284Income tax provision(152)(389)(465)(445)Net income9962,9261,9812,839Less: Net income attributable to noncontrolling interest57311988283Net income attributable to Ampco-Pittsburgh$423$2,807$1,099$2,756Net income per share attributable toAmpco-Pittsburgh common shareholders:Basic$0.02$0.15$0.06$0.14Diluted$0.02$0.14$0.06$0.14Weighted-average number of common sharesoutstanding:Basic19,54119,28519,50419,237Diluted19,59019,43419,58719,452AMPCO-PITTSBURGH CORPORATIONSEGMENT INFORMATION(in thousands)Three Months EndedJune 30,Six Months EndedJune 30,2023202220232022Net Sales:Forged and Cast Engineered Products$77,581$79,578$154,379$154,337Air and Liquid Processing29,63023,00457,63542,671Consolidated$107,211$102,582$212,014$197,008Income from Operations:Forged and Cast Engineered Products$3,904$2,275$6,128$1,877Air and Liquid Processing2,9772,5995,9305,260Corporate costs(3,593)(2,790)(6,777)(5,506)Consolidated$3,288$2,084$5,281$1,631View source version on businesswire.com: https://www.businesswire.com/news/home/20230809349556/en/ContactsMichael G. McAuleySenior Vice President, Chief Financial Officer and Treasurer(412) [email protected]

Business Wire

Ampco-Pittsburgh Corporation (NYSE: AP) Announces Second Quarter 2023 Results

https://finance.yahoo.com/news/ampco-pittsburgh-corporation-nyse-ap-200500054.html

0878207c-e798-392d-b223-eaa4dc322800

AP

ParticipantsDavid G. Anderson; President of Air & Liquid Systems Corporation; Ampco-Pittsburgh CorporationJ. Brett McBrayer; CEO & Director; Ampco-Pittsburgh CorporationKimberly P. Knox; Corporate Secretary; Ampco-Pittsburgh CorporationMichael G. McAuley; Senior VP, CFO & Treasurer; Ampco-Pittsburgh CorporationSamuel C. Lyon; President of Union Electric Steel Corporation; Ampco-Pittsburgh CorporationDavid W. Wright; President & Managing Member; Henry Investment Trust, L.PJustin Laurence Bergner; Research Analyst; Gabelli Funds, LLCUnidentified ShareholderPresentationOperatorGood day. and welcome to the Ampco-Pittsburgh Corporation Second Quarter 2023 Earnings Conference Call. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to Kim Knox. Please go ahead.Kimberly P. KnoxThank you, Marliese, and good morning to everyone joining us on today's second quarter 2023 conference call. Joining me today are Brett McBrayer, our Chief Executive Officer; and Mike McAuley, Senior Vice President, Chief Financial Officer and Treasurer. Also joining us on the call today are Sam Lyon, President of Union Electric Steel Corporation; and Dave Anderson, President of Air & Liquid Systems Corporation. Before we begin, I would like to remind everyone that participants on this call may make statements or comments that are forward-looking and may include financial projections or other statements of the corporation's plans, objectives, expectations or intentions. These matters involve certain risks and uncertainties, many of which are outside the corporation's control. The corporation's actual results may differ significantly from those projected or suggested in any forward-looking statements due to various risk factors, including those discussed in the corporation's most recently filed Form 10-K and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update or otherwise release publicly any revision to our forward-looking statements. A replay of this call will be posted on our website later today. To access the earnings release or webcast replay, please consult the Investors section of our website at ampcopgh.com. With that, I'd like to turn the call over to Brett McBrayer Ampco-Pittsburgh's CEO. Brett?Story continuesJ. Brett McBrayerThank you, Kim. Good morning, and thank you for joining our call. As shared in yesterday's press release, we recorded an earnings per share of $0.02 for the second quarter and $0.06 per share year-to-date. Our operating income year-to-date is triple that of prior year with solid performances from both segments. Of particular note is the continuing growth of the Air & Liquids segment with another quarter of record-breaking backlog. I challenged Dave Anderson, our Air & Liquid Systems President to more than double its revenue of 2022. Based on his recent performance, I believe he has taken that challenge to heart. Much work is still ahead as we position ourselves for a strong 2024 and beyond. The completion of our capital improvements in our U.S. forged assets is critical, and I'm pleased with our progress to date. I also want to note our strong safety performance with recordable and lost time injury rates continuing to improve. I'd now like to turn the call over to David Anderson, President of Air & Liquid Systems.David G. AndersonThank you, Brett. Good morning. We continue to see the positive results of our strategic growth plan as sales in the first 6 months of this year are the highest in our Air & Liquid's history. Sales in Q2 increased 29% versus prior year with year-to-date sales up 35% over prior year. Year-to-date, all 3 businesses have achieved more than 20% sales growth compared to prior year. Even with the higher sales level, our backlog grew once again to a new record this quarter as our expanded sales force continues to exceed expectations. This means we have now achieved a new record backlog for 6 consecutive quarters.The new manufacturing space we leased in Lynchburg, Virginia at the beginning of Q2 is now operational and will provide additional capacity for our businesses as we continue to grow. We are also excited to share that we are working on a U.S. Navy additive manufacturing project at Oak Ridge National Laboratory. Over the next 12 months, we will be working on designing additive manufactured pump parts for the U.S. Navy. Additive manufacturing of these parts has great potential to shorten supply chain lead times and increase capacity. Segment operating income for the first 6 months of 2023 was 13% above prior year due to the increased sales. The prior year income included $0.7 million in income for a onetime employee benefit policy adjustment. Excluding the onetime adjustment shows operating income growth of 30% versus prior year. Revenue and operating income have already increased. Our backlog is now 92% higher than it was 18 months ago. And with our new facility in Lynchburg, we have increased our manufacturing capabilities. All of this means we are in a strong position to continue forward with our growth plans in the quarters ahead.J. Brett McBrayerThank you, Dave. I'll now turn the call over to Sam Lyon, President of our Forged and Cast Engineered Products segment.Samuel C. LyonThank you, Brett, and good morning. Q2 of 2023 marked the third consecutive quarter of positive operating income. We finished the quarter with an operating income of $3.9 million, which included a onetime benefit of $1.9 million related to a foreign government energy reimbursement. Excluding this benefit, operating income was $2 million, roughly consistent with our Q1 results. Q2 revenues were $77.6 million versus the prior year of $79.6 million. Lower top line revenue reflects decreased variable surcharges due to lower energy and raw material costs and a weaker dollar. The cast roll market is stable, while the forged roll market has strengthened and is approximately 25% higher versus 2022. Forged Engineered product revenues continue to be depressed. We anticipate recovery for the FEP market starting in the back half of 2023 and continuing in 2024. For 2024, the World Steel Association estimates steel demand to increase by 2.5% in the U.S., with Europe also seeing modest growth compared to this year. Our customer base reports similar sentiments expecting sustained healthy demand from the automotive industry, solar energy sector and U.S. infrastructure programs. This confidence is supported by investments in new steel and aluminum rolling mills primarily in North America. The forge roll market is strong, approximately up 25% year-over-year as North American manufacturers are leaning more heavily on domestic producers to ensure reliability of supply. [OG] remained strong into 2024. Negotiations are complete with most of our large roll customers, and our value proposition has allowed us to maintain or grow share with favorable pricing for 2024. Energy and transportation surcharges remain in place for most of our customers, which will smooth our operating income and protect against unforeseen volatility. As Brett mentioned, our capital improvement plan in the United States continues to progress with completion expected in the fourth quarter. 4 of the 5 new machining centers have been received in our various stages of installation and startup. We've completed over 30 rolls in the first machine with efficiency improvements of over 20%. We are very encouraged by these results and look forward to many years ahead with minimal maintenance costs and unplanned downtime. The imminent completion of the strategic project positions us well to support the growth in North America and aluminum steel -- North America steel and aluminum industries.J. Brett McBrayerThank you, Sam. I'd now like to turn the call over to Mike McAuley, our Chief Financial Officer, who will now share more details regarding our financial performance. Mike?Michael G. McAuleyThank you, Brett. As expressed in our press release and in the corporation's Form 10-Q filed last night, Ampco-Pittsburgh consolidated net sales for the second quarter of 2023 were $107.2 million that's an increase of 4.5% compared to net sales for the second quarter of 2022. Net sales in the Air & Liquid Processing segment grew 29% year-over-year, driven by a higher volume of shipments in all 3 businesses, but most notably heat exchange coils. Sales -- net sales for the Forged and Cast Engineered Products segment in the second quarter of 2023 declined 2.5% compared to the prior year period, as Sam explained, driven by lower demand for FEP products in the oil and gas and steel distribution markets, lower surcharge pass-throughs and unfavorable foreign exchange translation, offset in part by higher mill roll shipment volumes. Income from operations for the second quarter of 2023 was $3.3 million. This compares to income from operations in the prior year quarter of $2.1 million. Higher overall shipment volumes. The foreign energy credit Sam referred to and better manufacturing cost absorption were partly offset by higher costs and a less favorable sales mix. Interest expense for the quarter increased compared to prior year due to a rise in both interest rates and in total debt. In part due to ongoing expenditures for the strategic capital investment program in the U.S. forge business. Other net decline for the quarter, primarily due to losses recorded on foreign exchange in the current year quarter compared to gains on foreign exchange recorded in the prior year quarter. Backlog at June 30, 2023, of $370.2 million rose approximately 6% from a year ago, with Air & Liquids segment backlog at a record high, and the Forged and Cast Engineered Products segment backlog, reflecting the decrease in FEP demand and roll order timing differences. Net cash flows used by operating activities was approximately $2.8 million for Q2 2023 and was a use of $7.1 million year-to-date June, primarily in support of working capital. This represents a significant improvement from 2022 due to improved operating results and lower change in working capital in the current year periods. Capital expenditures for the second quarter of 2023 were $6.4 million, primarily for the Forged and Cast Engineered Products segment, inclusive of the Forge business' strategic capital program. We expect CapEx and usage of the equipment finance facility to step up in Q3 with the milestones expected for that capital expenditure program. June 30, 2023, the corporation's balance sheet and liquidity position included cash on hand of $9.5 million and undrawn availability on our revolving credit facility of $22.4 million. In addition, the equipment financing facility has remaining capacity of $9.4 million as of June 30, 2023. Operator, at this time, we would now like to open the line for questions.Question and Answer SessionOperator(Operator Instructions) Our first question comes from David Wright from Henry Investment Trust.David W. WrightI apologize for any background noise. Reading from the press release, SG&A is up pretty noticeably sequentially and year-over-year. Mike, can you give some commentary about that? And also what does SG&A look like for the next couple of quarters?Michael G. McAuleyYes, David, thank you for the question. SG&A is elevated compared to prior year for a couple of reasons. One is with the higher income, variable compensation accruals are higher than they were last year when we had lower income. We're also experiencing like a lot of public companies that you may be listening to where you may own a higher level of self-insured health care costs. It's quite noticeable when we think and based on discussions with our insurers and our specialists that a lot of it is related to the pandemic and people deferring at health care for a few years and now it's starting to catch up with most companies, and we're no stranger to that either. So we are seeing elevated self-insured health care costs in addition to things like typical wage inflation and so forth. The other thing is that we did start a new facility in Air & Liquid, and there's some additional costs associated with that until we get to a more ramped-up scenario.David W. WrightSo should we look at $14 million a quarter for the next couple of quarters as well?Michael G. McAuleyI think that SG&A for 2023 consolidated will be about $13 million in Q3 and Q4.OperatorAnd our next question comes from Justin Bergner from Gabelli Funds.Justin Laurence BergnerI guess my first question would be on cash flow and working capital. So your sales in your Forged and Cast rolls are kind of more in the flattish territory. The inventories are remaining high. So what's the outlook for inventories in the second half? And should we expect an inflection to positive operating cash flow as working capital gets worked down?Samuel C. LyonJustin, this is Sam. Mike might have some specific numbers in front of him. But in general, we expect inventory to come down. We had our outage that occurred at the very, very end of Q2 and into Q3 for our North American assets, and we take 2 weeks out. So we built inventory ahead of that to flow through the rest of the operations to support the customer base, and then that will flow out over the next 2 quarters.Michael G. McAuleyYes. And I might add to that. It is -- Justin, it's Mike. I might add to that a little bit in addition to the kind of the reduction in inventory that's expected in the second half. We think that cash flow from operating activities should be almost neutral for the full year as we catch up with the drop in inventories. But the one thing to keep in mind is while that's cash flow from operating activities, based on higher income, offset by working capital and other things with the cash add-backs. The other thing to keep in mind is CapEx is going to continue to be a bit elevated while we complete the investments in the U.S. Forge business. So we do think that CapEx is going to be higher. So if you're thinking the next step like free cash flow, it's going to be difficult for that to turn positive with the CapEx that we have on deck.Justin Laurence BergnerGot it. That's helpful. And then what's the sort of CapEx guide for the year? And does the equipment finance facilities sort of cover all your needs there? Or do you have to sort of kind of go into the revolver?Michael G. McAuleyThe equipment finance facility is a $20 million facility. It covers the vast majority of the strategic CapEx. In fact, that -- those particular -- that particular equipment serves as the collateral for the facility. So it largely covers it, it's not 100% coverage, but our credit agreement has a $20 million allowance for such incremental or supplemental financing outside of the bank group. We expect to use most of that. And so I'm not concerned about funding for the CapEx at all. We've got to cover pretty much. We are funding part of it out of pocket for things like foundation and utilities, some engineering. But the bulk of the cost is covered by the equipment financing facility. And in terms of kind of giving you some kind of guidance or outlook on CapEx, Q3 should be our highest CapEx quarter of the year and then we should drop back down into a lower -- probably our lowest quarter in Q4. And we're thinking something in the range of $22 million total CapEx for full year of 2023. As we go forward -- yes. So as we go forward into '24 and '25, we're going to be obviously stepping down quite significantly and back into more historical levels of total CapEx in the out years.Justin Laurence BergnerOkay. And then more historical would be sort of 15-ish or...Michael G. McAuleyI would say 15 south of 15. Yes.Justin Laurence BergnerOkay. All right. And then lastly, would you say that pricing has sort of caught up to costs now based on the Forged and Cast Engineered Products results in the second quarter. And then you made a comment, Brett, about 2024 pricing. I didn't realize sort of most of that gets decided so early in 2023. Would you expect a further improvement relative or are you sort of trending towards better conditions for 2024 pricing than you experiencing in the second quarter and looking into the third quarter?Samuel C. LyonThis is Sam, Justin. The pricing -- most of our major contracts are done in the second quarter-ish for next year, and then we got our [roll] allocations. And so that was my comment. The pricing that we're able to attain is in excess of inflation. Most of our major costs, raw materials, energy, transportation, raw materials they're all pass-throughs. And then we know what our wage inflation is going to be on all the union contracts. And so we're confident that we were able to cover -- more than cover inflation there. The last piece -- the pricing for Q3 and Q4 of this year are done. They were done block last year. So the pricing would be similar or that -- the pricing we will experience in Q3 and Q4 will be similar to Q2 of this year.Justin Laurence BergnerOkay. And so the pricing for this year is more or less caught up with inflation as of Q2 and looking into the back half and then next year, you're expecting to get some pricing beyond your full set of inflationary pressures?Samuel C. LyonYes, that's correct.Michael G. McAuleyYes. The pricing, I would say is like is in line with the materials and raw materials and energy and transportation costs. This year, but potentially not completely caught up with other inflationary items. Hence, the need to focus on pricing in 2024 and get that pricing raised in 2024 as Sam described.OperatorOperator Instructions) And our next question comes from Greg Venet, who is a shareholder.Unidentified ShareholderSo I guess my question for margin expansion for next year, you have these costs. You've negotiated the contracts and you have these cost pass-through, which I guess are variable, if costs go down then you pass that through to your customer. So for margin expansion that it really comes down to this modernization program. I was wondering if you could give us more color on -- I think you mentioned that you have 4 of the 5 pieces of equipment in place. And the first 1 was generating savings. But about 2 years ago when you embarked on this, you were talking about quite a significant savings or productivity improvement. If you could tell us more about that, more color. Is that turning out the way you want?Samuel C. LyonYes, -- what the -- Greg, the numbers that we're looking at are roughly in the $2.5 million to $3 million savings range and then expansion -- the -- there's 2 furnaces that we're putting in that allow us to increase our forge throughput and expand our non-roll business. And depending on volume, that will be another $3 million to, say, $5 million worth of improvement.Unidentified ShareholderSo we would start to see this beginning in '24 or do you think we might see -- during third quarter or fourth quarter? Any chance of seeing any improvement there or it's really more next year?Samuel C. LyonIt's really more next year because we have some training costs and ramp-up costs that we have. And then next year, by the end of Q4, everything will be up and running. And along with that, there's a little bit of a product shift more product to be run in our Carnegie plant, which cuts on transportation costs between intercompany transportation. That's another piece of the savings. I would say be more Q1 of next year.Unidentified ShareholderOkay. Most of the calls I've heard recently, customers were looking for -- used to look for just-in-time delivery than they were doing just in case an overordering. I'm wondering -- are you finding that some of your customers are destocking now and don't want to take delivery of rolls? Or are you able to turn those rolls back to your customer as soon as you've manufactured them?Samuel C. LyonThere's been very little of that. I mean there's always some pushouts or pull-ins, but it's not any different than normal. So yes, we're not seeing any significant pushouts of any kind. And 1 other thing unique to our business is, I don't know, it's unique, but we get estimates for next year, what they want. But then before we start manufacturing, we get approval from them to start. And once we start, we have a very high success rate of them taking the product.Unidentified ShareholderOne final question, I think. You touched -- it was very quick, but you touched on with Air & Liquids this contract with the Navy. And I think you referred to it as additive manufacturing, but a lot of people refer to as 3D manufacturing where it's new technology for creating parts. What's the -- is there a CapEx program for that? Or is the Navy funding that? Or how is that working?David G. AndersonGreg, it's Dave, and thank you for the call or for the question. Right now, this is a Navy funded program with Oak Ridge. And you're right, it's 3D or additive they use either term for it. The Navy's intent is to go towards more of this additive because they see that as an answer to a lot of the supply chain issues that they've been having in recent years with the shipbuilders. So for us, right now, we're committed to learning how to manufacture these parts, and we would expect to look at things like Navy funding in the future if we were to invest in the equipment. So right now, it's a 12-month program to learn how to design them and work with them and then we make some determinations on what investments may or may not be needed at that point.Unidentified ShareholderSo if you go ahead with this, there will be a CapEx program, but that wouldn't be until 2025. Is that the way to think about it?David G. AndersonIt would probably be around that. And there's really a couple of approaches that we could take upon developing these parts. We could obviously invest on our own equipment, we could request funding from the Navy to help pay for that equipment or we could use other parties and contract out to use their equipment. So that third option would not really require CapEx. So it really depends and we may end up using a variety of all 3 of those options.Unidentified ShareholderDo you know that you're the only one with this program with the Navy? Or are there multiple companies that are participating in this?David G. AndersonThere are multiple companies participating. This is an initiative that the Navy wants to really move towards.Unidentified ShareholderAnd is this technology transferable to outside of the Navy contract? Is it possible for you to produce other parts?David G. AndersonIt's absolutely is transferable, yes.Unidentified ShareholderYou're the first (inaudible) I've heard talking about additive manufacturing, which I think is the future, but thank you.David G. AndersonYes. Thank you. And I think you're right. I think it is part of the future, too.OperatorAnd this concludes our question-and-answer session. I would like to turn the conference back over to Brett McBrayer for closing remarks. Thank you.J. Brett McBrayerThank you. As I noted previously, the second half of 2023 will mark an important step forward in our transformation of Ampco-Pittsburgh. With the completion of our U.S. Force equipment modernization and our expanding production capacity in Virginia, we will position our company for a strong 2024 and beyond. I want to thank our employees for their outstanding work. I also want to thank our shareholders and our Board of Directors for their continued support. Thank you for joining our call this morning.OperatorAnd the conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

Thomson Reuters StreetEvents

Q2 2023 Ampco-Pittsburgh Corp Earnings Call

https://finance.yahoo.com/news/q2-2023-ampco-pittsburgh-corp-040826787.html

2c37eda6-87e3-34ff-ade1-5c38f0a03b34

APA

APA CorporationHOUSTON, Aug. 02, 2023 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced second-quarter 2023 results. Results can be found on the company’s website by visiting www.apacorp.com or investor.apacorp.com.APA will host a conference call Aug. 3 at 10 a.m. Central time via the webcast link available on the company website to discuss the results. Following the conference call, a replay will be available for one year on the “Investors” page of the company’s website.About APAAPA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and in the Dominican Republic. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com. Additional details regarding Suriname, ESG performance and other investor-related topics are posted at investor.apacorp.com.ContactsInvestor:(281) 302-2286Gary ClarkMedia:(713) 296-7276Alexandra Franceschi  Website:www.apacorp.com APA-F

GlobeNewswire

APA Corporation Announces Second-Quarter 2023 Financial and Operational Results

https://finance.yahoo.com/news/apa-corporation-announces-second-quarter-204300895.html

8a078d10-c73c-34eb-b750-0b0ea7b14cbb

APA

Final Call for One-on-One Meeting Requests for all Companies by Institutional Investors, Portfolio Managers, Financial Analysts, CIOs, and Other Investment Industry Professionals.World Class Energy Companies to Present; Presentation Times and Schedule for All Participating Companies Now Posted on the Conference Website  www.enercomdenver.comInvestors, Analysts, and Energy Industry Professionals Can Still Register to Attend EnerCom Denver – The Energy Investment Conference at www.enercomdenver.comDENVER, Aug. 8, 2023 /PRNewswire/ -- EnerCom, Inc. has finalized presentation times and schedule for participating companies on the conference website for the 28th Annual EnerCom Denver – The Energy Investment Conference, to be held August 13-16, 2023, in Denver, ColoradoThis year's schedule includes a broad group of producers; midstream and oilfield service companies; emerging energy-related technology; alternative energy and traditional oil and gas start-up ventures; panels on SEC and ESG Disclosure and Compliance Trends, Carbon Capture, Private Companies, Mergers, Acquisitions and Dispositions and Oilfield Services; and insightful keynote speakers.All conference presentations and panels will be live webcast and can be viewed on the EnerCom Denver website at www.enercomdenver.com.A complete list of presentation times for all participating companies and schedule of events can be found on the conference website for EnerCom Denver – The Energy Investment Conference.  Investor presentations begin at 8:00 a.m. and run through 5:00 p.m. Mountain Time (presenters, days, and times are subject to change).The Energy Transition and Emerging Technology Session, focused on energy-related technology, alternative energy and traditional oil and gas technology start-up ventures, takes place on Wednesday, August 16th.Presenting company lineup as of August 7, 2023, includes:Amplify Energy (NYSE: AMPY)APA Corporation (NASDAQ: APA)Aureus Energy ServicesBayswaterBaytex Energy (TSX/ NYSE: BTE)Berry Corporation (NYSE: BRY)Canacol Energy (TSX: CNE)Crescent MidstreamCureton MidstreamDistributionNOW (NYSE: DNOW)Donovan VenturesEarthstone Energy (NYSE: ESTE)EnerCom Inc.Flotek Industries (NYSE: FTK)Forum Energy Technologies (NYSE: FET)GeoPark (NYSE: GPRK)Granite Ridge Resources (NYSE: GRNT)GranTierra Energy (NYSE: GTE, TSX: GTE)Kolibri Global Energy (TSX: KEI, OTCQX: KGEIF)Liberty Energy (NYSE: LBRT)LiTHOS - (CNSX: AMS.CN)Milestone CarbonMobius Risk GroupNCS Multistage (NASDAQ: NCSM)Nickle Road OperatingNuVista Energy (TSX: NVA)Obsidian Energy (TSX/ NYSE: OBE)Parex Resources (OTC: PARXF)Petrie PartnersPetroTal Corp. (TSXV: TAL)Pine Cliff Energy (TSX: PNE)Project GeminaeRanger Energy Services (NYSE: RNGR)RheopecticRing Energy (NYSE: REI)RW EnergySandRidge Energy (NYSE: SD)Seaport GlobalSelect Water Solutions (NYSE: WTTR)Shale IngenuitySilverBow Resources (NYSE: SBOW)SM Energy (NYSE: SM)Smart Sand (NASDAQ: SND)Strive Asset Management (NYSE: DRLL)Tenaz Energy (TSX: TNZ)Trinity Refining and Safety SystemsTriple R Energy PartnersU.S. Energy Development CorporationVAALCO Energy (NYSE: EGY)Vitesse Energy (NYSE: VTS)W&T Offshore (NYSE: WTI)Wasatch Energy ManagementXCL ResourcesStory continuesInstitutional investors, portfolio managers, financial analysts, CIOs and other investment industry professionals registered for the EnerCom Denver – The Energy Investment Conference can still request one-on-one meetings with the senior management teams of participating companies on the EnerCom Denver conference website.  The energy investment community and industry professionals are encouraged to register and make travel plans now for EnerCom Denver, which will take place August 13-16, 2023 at the Westin Denver Downtown.  There is no cost to register for qualified investment professionals and oil and gas company executives.The EnerCom Denver conference provides top-level access to oil and gas company C-suites. The four-day conference provides investors unparalleled access and networking opportunities, including one-on-one meetings with company management teams. Meetings are limited to qualified investors, including buy-side principals, portfolio managers, CIOs, and securities analysts.The conference kicks off with the annual Charity Golf Tournament on Sunday, August 13th at the scenic Arrowhead Golf Club. The golf event is sponsored by global sponsor Netherland, Sewell & Associates, as well as EnerCom, Studio X, Fortis Energy Services and SLS Group, providing a 2023 Porsche Macan prize at the hole-in-one tee box. The EnerCom Denver Golf Tournament is a fundraiser for IN! Pathways to Inclusive Higher Education with a mission to create inclusive college opportunities in Colorado for students with intellectual disabilities and to foster academic growth, social development, and career advancement. The charity golf tournament requires a $150 donation to participate.The EnerCom Denver conference will also host a Monday Mixer cocktail reception—held after day one of conference presentations—for attendees to enjoy appetizers, drinks, and live music as they mingle with key representatives from the energy industry.Following day two of the conference, the Colorado Rockies baseball game is a premier networking event that brings together all facets of the energy community. Attendees will enjoy networking with conference VIP suite sponsors and 200 EnerCom-invited conference executives and investors over drinks and game-day food in a setting that allows you to move freely between the contiguous sponsored suites to network, forge relationships, and enjoy a memorable summer evening at beautiful Coors Field.For the past 28 years, EnerCom Denver has been the largest independent investor conference for the oil and gas industry and broadening energy industry that is open to all energy companies, investors, and professionals to participate. EnerCom Denver is the go-to energy conference offering investment professionals an unparalleled opportunity to listen to the world's leading senior management teams outline their investment strategies and share their plans to drive development, fund operations, generate cash flow, and return value to stakeholders, and provides industry professionals a venue to learn about important topics currently affecting the global energy industry.Held at The Westin Denver Downtown hotel, EnerCom Denver annually hosts a large, in-person audience, including industry professionals, institutional and retail investors, high-net-worth individuals, family office investors, venture capital funds, and private equity funds. In addition, the conference live webcast reaches a large global audience of virtual attendees. Attendees can expect to hear presentations featuring public and private oil and gas companies with operations worldwide. In addition, there will be multiple panel discussions touching on various current energy topics.Conference Details: EnerCom Denver – The Energy Investment Conference in Denver offers investment professionals a unique opportunity to network and listen to senior management teams from leading companies across the energy value chain update investors on their operational and financial strategies and learn how the leading energy companies are building value in 2023.Conference Dates: August 13–16, 2023. EnerCom will host its annual charity golf tournament on Sunday, August 13th at the scenic Arrowhead Golf Club in Littleton, Colorado. The annual EnerCom Denver Golf Tournament is a fundraiser for IN! Pathways to Inclusive Higher Education requires a $150 donation to participate. The tournament is sponsored by Netherland, Sewell & Associates, EnerCom, Inc., Studio X, and new for 2023 will be a hole-in-one contest sponsored by SLS Group featuring a prize of a Porsche Macan.Formal presentations and meetings begin Monday, August 14th and go through to Wednesday, August 16th.Venue: The Westin Denver Downtown. We highly encourage attendees to book your hotel room under the EnerCom group block, as space is limited.Who Attends the Conference: Hundreds of institutional, private equity, and hedge fund investors, family offices, research analysts, retail brokers, trust officers, high net worth investors, investment bankers, and energy industry professionals gather in Denver throughout the conference.Qualified investment professionals and oil and gas company executives may register for the event at no cost through the conference website. Other conference registration classifications are also available for a fee.In addition to in-person access to all company presentations, panel discussions, and keynote speakers, the conference registration allows investors and management teams to meet formally and informally over cocktails, breakfast, and lunch.Conference Format and Details:  The EnerCom Denver conference follows EnerCom's familiar 25-minute presentation format, followed by 50-minute Q&A opportunities in separate breakout rooms, one-on-one meetings, and multiple networking opportunities.Presenter Inquiries: Companies interested in presenting at EnerCom Denver can contact Dan Genovese at [email protected] or Larry Busnardo at [email protected] One-on-One Meetings: Qualified investors can now request one-on-one meetings with company management teams through the conference website. Meetings are limited to institutional investors, buy-side principals, portfolio managers, CIOs, and securities analysts. EnerCom can work in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. Please contact Larry Busnardo at [email protected] with questions regarding one-on-one meetings.Sponsorship Opportunities: Please contact Blanca Andrus at [email protected] or (303) 296.8834 x246.About EnerCom, Inc.:Founded in 1994, EnerCom, Inc. (Energy Communications) has a rich history of working with clients to differentiate and deliver targeted messages to investors. Headquartered in Denver, EnerCom is an internationally recognized management consultancy advising companies on Environmental, Social & Governance (ESG), investor relations, corporate strategy/board advisory, marketing, analysis and valuation, media, branding, and visual communications.In addition to EnerCom Dallas and The Energy Venture Investment Summit at EnerCom Dallas, EnerCom will host the 28th annual EnerCom Denver energy investment conference on August 13-16, 2023.For more information about EnerCom and its services, please visit www.enercominc.com or call +1 303-296-8834 to speak with the management team or one of our consultants.EnerCom Denver Sponsors Include:Netherland, Sewell & Associates, Inc.Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. netherlandsewell.comBDOBDO delivers assurance, tax, and financial advisory services to clients throughout the country and around the globe. We offer numerous industry-specific practices, world-class resources, and an unparalleled commitment to meeting our clients' needs. We currently serve more than 400 publicly traded domestic and international clients. bdo.comMobius Risk GroupMobius Risk Group is an independent commodity and physical energy risk advisory firm. Founded in 2002, Mobius provides strategic advisory services including financial, physical, and commodity risk management and valuation, carbon strategy development, and regulated energy oversight for producers, consumers, distributors and capital providers backed by its proprietary C/ETRM, RiskNet. mobiusriskgroup.comHaynes and Boone, LLPHaynes Boone is an energy focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. Our team of more than 100 energy lawyers and landmen has been helping operators, lenders and private equity firms complete some of the largest financings and M&A transactions in recent years. With more than 600 lawyers in offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, Haynes Boone is ranked among the nation's most recommended law firms by general counsel for client service according to BTI Consulting Group's "Most Recommended Law Firms 2021" report. Also, the U.S. News & World Report and Best Lawyers "Best Law Firms" 2022 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law. haynesboone.comFitch RatingsFitch Ratings is a leading provider of credit ratings, commentary, and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective, and insights we provide help investors to make important credit judgments with confidence.Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst. fitchratings.comSLS GroupSLS Group is a multi-asset family office located in Salt Lake City that provides shareholders with alternative sources of liquidity, assists companies in capital formation, and makes direct investments in private and public companies. Our entrepreneurial spirit drives our success in complex and competitive capital markets. slsgroup.ioINEOS EnergyINEOS Energy is the energy division of INEOS, a multinational chemical company that operates in a variety of industries including petrochemicals, specialty chemicals, and oil and gas. INEOS Energy was established in 2020 to oversee the company's growing portfolio of energy-related businesses, which includes exploration and production, as well as trading of oil and gas.The company's exploration and production activities focus on onshore and offshore oil and gas assets in the North Sea, in the U.K. and Denmark. In recent years, INEOS Energy has made investments in low-carbon technologies, including Carbon Capture and Storage, and hydrogen. The company has also pledged to reduce its carbon footprint and achieve net-zero emissions by 2050. ineos.comStudio XStudio X is a global innovation studio with a mission to accelerate the pace of innovation in climate tech and for the energy industry. We are reimagining the future of work in energy by harnessing the spirit of innovation, collaboration, community, and a passion for pursuing what's possible. Powered by Shell, Studio X teams are able to come together from around the world to transform the way complex issues facing the energy industry are addressed. x.studioPetrie PartnersPetrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements. petrie.comPreng & AssociatesPreng & Associates is the world's leading executive search firm totally dedicated to the energy industry. Over our 40 years, we have assisted more than 750 management teams and boards in 75 countries and conducted over 3,700 engagements. Our mission continues to be helping companies and boards identify and attract talent around the world that will impact shareholder value. www.preng.comMoss AdamsMoss Adams is a fully integrated professional services firm dedicated to assisting clients with growing, managing, and protecting prosperity.With more than 3,400 professionals and staff across more than 25 locations in the West and beyond, we work with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development - from start-up, to rapid growth and expansion, to transition. www.MossAdams.com CisionView original content:https://www.prnewswire.com/news-releases/28th-annual-enercom-denver--the-energy-investment-conference-set-to-be-held-august-13-16-2023-in-denver-colorado-301896047.htmlSOURCE EnerCom, Inc.

PR Newswire

28th Annual EnerCom Denver - The Energy Investment Conference Set to be held August 13-16, 2023 in Denver, Colorado

https://finance.yahoo.com/news/28th-annual-enercom-denver-energy-172400097.html

bdeb4258-7ee6-337e-832f-eb9cc72b6ccf

APCX

FMW Media Works CorpNew to The Street Proudly Announces its 500th Special Edition 1- hour Broadcast with Guest Appearances, Airs on Newsmax, Saturday, September 9, 2023, 3:30 PM ETEpisode 500: 1). Hempacco Co., Inc. (NASDAQ: HPCO) ($HPCO) 2). PetVivo Holdings, Inc. (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV) 3). Iagon (CRYPTO: IAG) ($IAG) 4). Blue Castle Ventures LTD. (CRYPTO: BCVD) ($BCVD) 5). Lahontan Gold Corp. (OTCQB: LGCXF) (TSXV: LG) ($LGCXF)6). Mangoceuticals, Inc. (NASDAQ: MGRX) ($MGRX). 7). AppTech Payments Corps (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX) ("AppTech") 8). The Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM) 9).Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) (Sekur®) - https://www.newsmaxtv.com/Shows/New-to-the-Street & https://www.newtothestreet.com/.This content is not available due to your privacy preferences.Update your settings here to see it.New to The Street airs on three major cable networks.NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- FMW Media Works’ show New to The Street celebrates its 500th episode with a line-up of interesting corporate guest appearances. The show will air on Newsmax, Saturday, September 9, 2023, at 3:30 PM ET.New to The Street’s 500th TV episode line-up, features nine (9) interviews of the following Corporate representatives:1). Hemp Cigarettes/Hemp Products – Hempacco Co., Inc.'s (NASDAQ: HPCO) ($HPCO) interviews with Sandro Piancone, Co-Founder/CEO2). Pet Health – PetVivo Holdings, Inc.'s (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV) interview with John Lai, CEO/President.3). Blockchain Data Management/Compliance - Iagon's (CRYPTO: IAG) ($IAG) interview with Dr. Navjit Dhaliwal, CEO4). Financial Market Strategies/Blockchain – Blue Castle Ventures LTD.'s (CRYPTO: BCVD) ($BCVD) interviews with David Rojas, CEO/Founder.5). Gold/Silver Mining – Lahontan Gold Corp.'s (OTCQB: LGCXF) (TSXV: LG) ($LGCXF) interview with Kimberly Ann, Founder, CEO, President, and Director.6). “Breaking it Down” Segment -TV Host Ana Berry with Jacob Cohen, Chief Executive Officer of Mangoceuticals, Inc. (NASDAQ: MGRX) ($MGRX).7). Fintech – AppTech Payments Corp.’s (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX) ("AppTech") interview with Luke D'Angelo, CEO/Chairman.8). Sustainable Solutions - The Sustainable Green Team, Ltd.'s (OTCQX: SGTM) ($SGTM) interview with Brian Rivera, Director of Administration, and Brian Meier, Chief Operating Officer.9). "Sekur Privacy & Sekur Security Segment – The Weekly Hack" interview with internet privacy expert Mr. Alain Ghiai, CEO, Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) (Sekur®).Story continuesEpisode 500Sandro Piancone, Co-Founder/CEO of Hempacco Co., Inc. (NASDAQ: HPCO) ($HPCO) appears on New to The Street’s 500th episode, providing TV Host Jane King and viewers with his corporate update. Hempacco's mission is to become the largest disrupter of the $1T tobacco industry with its Hemp Disrupting Tobacco™ products. Recently, the HPCO entered a joint-venture agreement with music entertainer Snoop Dogg to create and sell a line of hemp-derived consumer products. The JV product “Dogg lbs” (pronounced dog pounds) is hemp-derived CBD and Delta-9 infused gummies that comes in 3-flavor profiles, blue/raspberry, cherry/lemon, and grape, available in 5-count and 20-count sizes. As the first of its kind in the CBD/ Hemp marketplace, “Dogg lbs” packaging has a QR code which immediately downloads an Augmented Reality (AR) video of Snoop Dogg talking to the consumer. The product launch was a great success at the recent Champ Trade Show in Las Vegas Nevada. Sandro further explains that the marketing plan is to continue to sign-up master distributors who have existing locations to place products. Currently, they signed three master distributors, New York, Chicago and one in Alabama who combined have around 100,000 locations. The distributors in the mid-west and south ordered about two truckloads of product, which equates to $1M. The Company expects to roll out further Snoop Dogg JV products currently in production. All packaging is childproof, featuring a QR code for AR video download. The on-screen QR code is available during the show; Hempacco Co., Inc. - https://hempaccoinc.com/ & https://realstuffsmokables.com/.On the 500th episode, New to The Street's TV Host Jane King talks with John Lai, CEO/President of PetVivo Holdings, Inc.'s (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV) ("PetVivo") about the Company. PetVivo manufactures, commercializes, and licenses innovative medical devices and pet therapeutics. John updates viewers about the Company's patented product, Spryng with OsteoCushion Technology, a veterinarian's tool to help pet owners manage their pets' osteoarthritis and joint-related ailments. Today's Veterinary Practice recently published a peer-reviewed article about Spryng's efficacy. The Author, Dr. Tamara Grubb, DVM, Ph.D., DACVAA, wrote the article: "Select Drugs and Compounds for Canine Osteoarthritis Management," which addresses osteoarthritis' current treatments and the successfulness of new novel therapies. One such new therapy mentioned is Spryng, and how it looks at the bone-on-bone causes of osteoarthritis, a front-line use treatment, and an effective alternative to dogs that cannot take NSAIDs (Non-steroidal anti-inflammation drugs). John believes Dr. Grubb will discuss Spryng and her article in upcoming veterinarian conferences. As of June 30, 2023, Spryng is now used in 450 clinical locations in 47 states, up from 50 locations in 2022. As Spryng becomes more widely known as an effective disruptive technology for treating dogs, horses, and cats with osteoarthritis, PETV sees upward growth. The on-screen QR code is available during the show; download or visit PetVivo Holdings, Inc. - https://petvivo.com/ & Spryng with OsteoCushion Technology - https://www.sprynghealth.com/.TV Host Jane King on New to The Street’s 500th episode talks with Dr. Navjit Dhaliwal, CEO about Iagon’s (CRYPTO: IAG) ($IAG) blockchain technology for data compliance and storage needs. The Company started in 2017 and saw an immediate need for a decentralized application for data management. From its patented geolocation technology, Iagon offers its end-users direct access to specific data inputs, meeting compliance rules and regulations. Countries enforce data privacy uses worldwide, and Iagon can assist timely and efficiently with end-user needs to meet compliance regulatory conditions. Centrally located, big tech platforms have limitations on data security protocols outside of some jurisdictions' compliance rules. Iagon's decentralized platform spreads data through numerous locations and is blockchain-protected. The blockchain provides performance properties, viability enhancements, trustworthiness, and location verification on data integrity. Iagon's use of a W3 (Web 3.0) blockchain in maintaining, storing, and controlling data exceeds the limitation of Web 2.0 applications and programs. End-users who adopt Iagon's technological approach to data management can meet or exceed the regulatory requirements necessary for data storage. Decentralized data storage provides end-users with a customizable system for its data and security requirements layered with encryption protocols. Entities dealing with medical HIPPA privacy rules and the European Union's GDPR (General Data Protection Regulation) compliance rules need immediate solutions to avoid compliance penalties and fines while significantly limiting the potential threat of a data cybersecurity breach. As worldwide compliance rules/regulations increase, Iagon believes many entities will adopt its blockchain data management platform. The on-screen QR code is available during the show; download or visit Iagon - https://iagon.com/.Blue Castle Ventures, LTD’s. (CRYPTO: BCVD) ($BCVD) ("Blue Castle") Chief Executive Officer / Founder, David Rojas is on the 500th episode talking with New to The Street’s TV Host Jane King about his Company. Blue Castle provides and develops strategic asset-backed financial products for worldwide financial markets. Additionally, Blue Castle offers financial training courses and digital blockchain certification. David tells viewers that the financial courses are helping many who have shown successful trades. David talks about his concerns with the overall market where many industry segments are not performing well. The companies that have an AI (Artificial Intelligence) platform seem to be the only high-tech entities doing well in stock price appreciation. But he has concerns with AI entities because these stock valuations remain very high, and macroeconomic pressures could hamper these public companies’ abilities to maintain such high valuations. He likes quantum computer companies and believes that the shift to quantum computing will change and greatly enhance end-users’ control over data and computations going forward. David believes that rules and regulations are always important to maintain market integrities and operations, and he expects more rules in the blockchain sector. Anyone interested in open an account and would like to join a training class can contact the Blue Castle for more information. Blue Castle Ventures, Ltd. does not trade cryptocurrencies nor carry out transactions or investments with cryptocurrencies. All the Company's operations are in US dollars. The Company's blockchain, $BCVD, is a cryptography and security system. The on-screen QR code is available during the show; download or visit Blue Castle Ventures, Ltd. - https://bluecastleventures.ca/.Kimberly Ann, Founder, CEO, President, and Director of Lahontan Gold Corp. (OTCQB: LGCXF) (TSXV: LG) ($LGCXF) is on New to Street’s 500th show talking to TV Host Jane King. From the Company’s Gold mining site in Nevada, Kimberly explains the Company’s junior mining business. LGCXF’s Santa Fe property is the Company’s flagship holding, a past gold producer, and management has expectation of getting the open-pit gold mining operations going once again. The Company’s holdings are held in Mineral County, Nevada, the friendliest US state to the mining industry. Gold and silver are so important to high-tech and alternative energy products, Kimberly explains the scarcity of necessary metals and that everyone should own precious metals. In the ensuing months ahead, the Company will update more on its drilling results at its Santa Fee mine and provide more information on its other property holdings. Lahontan Gold has a Canadian 43-101 report on its Santa Fee operations. LGCXF has a five-year operational plan that they continue to advance on all its mining projects. The on-screen QR code is available during the show; download or visit Lahontan Gold Corp. - https://lahontangoldcorp.com/.“Breaking it Down” Segment premiers on New to The Street’s 500th episode, hosted by Ana Berry. On this segment, Ana talks with Jacob Cohen, Chief Executive Officer of Mangoceuticals, Inc. (NASDAQ: MGRX) ($MGRX) (“MangoRX”). MangoRx is a Company that focuses on developing, marketing, and selling various men's health and wellness products through its telemedicine platform. Jacob explains what makes MangoRx product different than competitors’ product in the treatment for erectile dysfunction (ED). Using a combination of Sildenafil (Viagra) or Tadalafil (Cialis), oxytocin and L-Arginine amino acid, Mango is immediately absorbed under the tongue. This absorption, in most uses, can provide immediate results for those suffering from ED. The Company’s product line Mango is a play on words “Man Go,” with a focus on providing health and wellness so a man can be the best in bed, boardroom, and gym. Men’s health and wellness market is a growing $4B marketplace, and unfortunately, younger men are experiencing ED issues. Management is aggressively marketing Mango to the younger demographic using digital marketing and influencers. Jacob says that using Mango can change oneself from erectile dysfunction to erectile “Function,” boasting confidence and self-esteem. The Company’s marketing slogan “Make America Hard Again” is gaining lot of traction and popularity, and the website, https://makeamericahardagain.com/ offers hats, tee-shirts, water bottles and other products to promote and make awareness about ED. Jacob informs viewers that investors become customers, and customers become investors, an excellent marketing relationship for MangoRx. The Company expects to see continued growth upwardly now and throughout 2024. Mango is available online at www.mangorx.com. The on-screen QR code is available during the show; download or visit Mangoceuticals, Inc. - www.mangorx.com.New to The Street’s TV Host Jane King on the 500th episode talks with Luke D'Angelo, CEO /Chairman of AppTech Payments Corp. (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX) ("AppTech"). AppTech is a leading Fintech Company specializing in seamless commerce solutions, allowing corporations, small and midsized enterprises ("SMEs"), and consumers efficient digital payment solutions and options. Banks and merchant service providers offer no truly specialized solutions for payment processing. AppTech’s Specialty Payments division continues to offer innovations for merchants and customers in seamless payment transactions. Many AppTech clients want a customized solution where they can integrate texting, SMS, mobile and other platforms into an easy-to-use platform for receiving and sending payments. Luke sees strong growth from current services and expects further upside potential as the Company rolls out more fintech solutions. Regardless of current macroeconomic pressures, AppTech clients are seeking new and innovative solutions for timely, seamless, and efficient payment processing. The Company’s Fintech cloud-based patented platform Commerse™ is changing the legacy payment and banking industries. The on-screen QR code is available during the show; download or visit AppTech Payments Corp. - https://apptechcorp.com/.On New to The Street’s 500th episode, The Sustainable Green Team, Ltd.'s (OTCQX: SGTM) ($SGTM) Brian Rivera, Director of Administration, and Brian Meier, Chief Operating Officer, are at the Nasdaq MarketSite Studio with TV Host Jane King. Viewers get an insight into SGTM's environmentally conscious solutions. Brian Rivera talks about using the word "Sustainability" and how many industries use the word in describing business operations. He believes that "Sustainable" business practices are actions that improve communities and their surrounding environments. With young children, Brian Rivera wants sustainable measures to ensure a better and cleaner future for the next generation. Some see wood and other organic matter as useless waste; he and the rest of the SGTM team see sustainability as converting waste into usable organic products. Brian Rivera explains the Company's newest product, HumiSoil, a technologically advanced product that uses humus to restore soil's organic nutrients and can create water in soils. HumiSoil is the answer to improve soil conditions and water hydration, which can significantly improve the yields of organic fruits, vegetables, and other agricultural products. Brian Meier, Chief Operating Officer, talks about managing the Company and its subsidiaries. With eight facilities and over 250 employees, Brian says that it takes the skills and the commitment of the Company's employees to create and grow sustainable products. The most crucial asset for SGTM is its employee resources. Brian Meier welcomes all viewers to visit the Company’s website to learn more about SGTM's sustainability products and services. The Company has a YouTube channel with many informative videos about the Company, HumiSoil, and other initiatives. The Sustainable Green Team, Ltd. and VRM BioLogik Group have a strategic relationship and a distribution agreement, whereas SGTM can sell HumiSoil in the North American market. The on-screen QR code is available during the show; The Sustainable Green Team, Ltd. - https://www.thesustainablegreenteam.com/ and Mulch Manufacturing, Inc. - https://mulchmfg.com/."Sekur Privacy & Sekur Security Segment – The Weekly Hack" is on New to The Street’s 500th episode. Internationally acclaimed internet privacy expert Mr. Alain Ghiai, CEO of Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) and TV Host and Multi-media Journalist Ana Berry talk about business email compromise (BEC). Cybercrimials hack into a business email system and look for the most profitable vulnerabilities. Alain says these hackers scan and watch email patterns looking for specific private data, in some cases they wait week to month in planning a hack. Sekur offers secure and private solutions, protecting businesses and individuals from potential cybercrime. For reasonable prices, the Sekur product line-ups offer subscribers several services that reduce the possibility of a cyber hack. Businesses using SekurMail, SekurMessenger and SekurVPN services can have a very secure and private e-communication platform. SekurSend/SekurReply, Chat-by-Invite, SekurMail, and SekurMessenger all contain encryption technology to eliminate hack attempts and threats. And SekurVPN adds an additional layer of protection so that internet traffic is private and secure, and the end-user always appears to be in Switzerland. The Company owns and operates its servers in Switzerland, a country with strict privacy laws. PROMO CODE: PRIVACY is now available, giving a 15% savings on all product subscriptions, and the discount will remain active for five years. Sekur Private Data, Ltd. never data mines, never sells data, never tracks web traffic, and never asks for a phone number. The on-screen QR code is available during the show to download more info or visit Sekur Private Data, Ltd. – https://sekurprivatedata.com/, http://www.Sekur.com and https://www.sekurvpn.com/.About Hempacco Co., Inc. (NASDAQ: HPCO) ($HPCO):Hempacco Co., Inc.'s (NASDAQ: HPCO) ($HPCO) goal is Disrupting Tobacco's™ nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff™ functional hemp cigarette and rolling paper brands. Hempacco's operational segments include smokables and hemp rolling paper manufacturing, smokable technology development, The Real Stuff™ brand of functional smokables and rolling paper, and Cheech & Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross, and Snoop Dogg joint venture of hemp-derived products. Learn more at hempaccoinc.com and order products at www.realstuffsmokables.com.About PetVivo Holdings, Inc. (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV):PetVivo Holdings Inc. (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV) is an emerging biomedical device company currently focused on the manufacturing, commercialization, and licensing of innovative medical devices and therapeutics for companion animals. The Company's strategy is to leverage human therapies for treating companion animals in a capital and time-efficient way. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently regulated pharmaceuticals and biologics. PetVivo has a pipeline of seventeen products for treating animals and people. A portfolio of nineteen patents protects the Company's biomaterials, products, production processes, and use methods. The Company's lead product Spryng™ with OsteoCushion™ technology, a veterinarian-administered, intraarticular injection for managing lameness and other joint-related afflictions, including osteoarthritis, in dogs and horses, is currently available for commercial sale - https://petvivo.com/ and https://www.sprynghealth.com/.About Iagon (CRYPTO: IAG) ($IAG):Iagon was founded in 2017 in Hamar, Norway because people need to be in control of their data. The idea started as an attempt at solving significant issues related to how healthcare data is stored, with modern solutions severely lacking transparency for individuals at a national and international level. The initial ambition of Iagon was to create a secure way for individuals to hold and thereby own their health data and interact more effectively with health services. Iagon aims to build a marketplace for decentralized storage and computing resources. The first version of the protocol will implement a storage marketplace to make joining the shared storage economy simple and transparent for everyone. The protocol will allow storage providers to earn rewards by trading their excess storage to resource consumers on a marketplace at a transparent price while ensuring data privacy, security, and accessibility. Its token-based economy is based on computer, server, and data center owners who join the storage and processing power grids. In return for sharing the capabilities of their machine, they will be granted Iagon tokens that can be traded back to fat money, while any party who wishes to utilize their capabilities will purchase Iagon tokens to distribute them to the parties that provide their services to the blockchain grid - https://iagon.com/.About Blue Castle Ventures, LTD. (CRYPTO: BCVD) ($BCVD):Blue Castle Ventures, LTD. (CRYPTO: BCVD) ($BCVD) is the first Company in the world to have digital assets that have true physical collateral. NFTs are our main traded digital asset; these NFTs have an actual painting or collateral from a real artist. Blue Castle Ventures has its own blockchain system to guarantee operations. The Company also has products that emulate financial planning based on NFTs commercialization and stock trading - https://bluecastleventures.ca/.About Lahontan Gold Corp. (OTCQB: LGCXF) (TSXV: LG) ($LGCXF):Lahontan Gold Corp. (OTCQB: LGCXF) (TSXV: LG) ($LGCXF): is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining-friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Mine, had past production of 345,000 ounces of Gold and 711,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Bureau of Mines and Geology, 1995). The Santa Fe Mine has an Indicated Mineral Resource of 1,112,000 oz Au Eq (grading 1.14 g/t Au Eq) and an Inferred Mineral Resource of 544,000 oz Au Eq (grading 1.00 g/t Au Eq), all pit-constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company will continue aggressively exploring Santa Fe during 2023 and begin evaluating development scenarios to bring the Santa Fe Mine back into production. Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., is the Qualified Person for the Company and approved the technical content of this news release - https://lahontangoldcorp.com/ (* Please see the Santa Fe Project Technical Report, Authors: Trevor Rabb and Darcy Baker, P. Geos. Effective Date: December 7, 2022, Report Date: March 2, 2023. The Technical Report is available on the Company's website and SEDAR.)About Mangoceuticals Inc. (NASDAQ: MGRX) ($MGRX):Mangoceuticals, Inc. (NASDAQ: MGRX) ($MGRX) (“MangoRx”) is a company focused on developing, marketing, and selling a variety of men's health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men's wellness telemedicine services and products as a growing sector, especially related to erectile dysfunction (ED). The Company has developed a new brand of ED product under the brand name "Mango" (think: "Man, Go!"). Mango is a prescription medication that must be approved by a physician. After an individual has completed an online telehealth visit, our network of medical providers will review and approve a prescription if medically appropriate - www.mangorx.com.About AppTech Payments Corp (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX): AppTech Payments Corp. (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX) provides digital financial services for corporations, small and midsized enterprises ("SMEs"), and consumers through the Company's scalable cloud-based platform architecture and infrastructure, coupled with our commerce experiences development and delivery model. AppTech maintains exclusive licensing and partnership agreements and a full suite of patented technology capabilities - www.apptechcorp.com. About The Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM)The Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM) is an emerging provider of environmentally beneficial solutions for preserving natural resources and the municipal waste and recycling industries. The Company is a wholesale manufacturer and supplier of wood-based mulch and lumber products, primarily in the Midwest, Southeast, and Ohio Valley regions. The Company also provides arbor care and storm recovery services to municipalities, corporations, and consumers, primarily in the southeastern United States. The Company plans to expand its operations through organic growth and strategic acquisitions that are both accretive to earnings and positioned for rapid growth from the resulting synergistic opportunities identified. The Company's customers include governmental, residential, and commercial clients - https://www.thesustainablegreenteam.com/.About Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF): Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) is a cybersecurity and internet privacy provider of Swiss-hosted solutions for secure communications and secure data management. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted emails, and secure communication tools. It sells its products through its websites www.sekur.com, approved distributors, and telecommunication companies worldwide. Sekur Private Data, Ltd. serves consumers, businesses, and governments worldwide - https://www.sekurprivatedata.com and https://www.sekur.com; Twitter: @sekurprivate.About New to The Street:New to The Street is an FMW Media production that operates one of the longest-running US and International sponsored and syndicated Nielsen Rated programming television brands, "New to The Street. Since 2009, New to The Street has run biographical interview segment shows across major U.S. television networks. The Nielsen Rated and sponsored broadcasts programming platform reaches millions of homes in the US and international markets. FMW's New to The Street / Newsmax televised broadcasting platform airs its syndication on Saturdays at 3:30 – 4:00 PM ET. The show also appears on Bloomberg and the FOX Business Network as sponsored programming. FMW is also one of the nation's largest buyers of linear television, long and short-form paid programming - https://www.newsmaxtv.com/Shows/New-to-the-Street, https://www.newtothestreet.com/ & https://www.youtube.com/watch?v=4-G2--mRQUw&t=14s.Forward-Looking Statements Disclaimer US/Canada:This press release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements do not guarantee future performance or results and will not necessarily be accurate indications of the times at which such performance or results are achieved. This press release should be considered in all filings of the Companies contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These statements reflect management's current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding agents that join Real. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.CONTACT:FMW Media Contact: Monica Brennan [email protected] 1-917-330-2564"New to The Street" Business Development Office 1-516-696-5900 [email protected] photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc9f276a-7329-4360-86ce-1081509a9f4bA video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/031c9926-381d-4a58-9f90-c3eb4e2a924a

GlobeNewswire

New to The Street Proudly Announces its 500th Special Edition 1-hour Broadcast with Guest Appearances, Airs on Newsmax, Saturday, September 9, 2023, 3:30 PM ET

https://finance.yahoo.com/news/street-proudly-announces-500th-special-133000197.html

ac10bae5-d865-39a4-a3ec-70a61b5289ee

APCX

FMW Media Works CorpNew to The Street Proudly Announces its 500th Special Edition 1-hour Broadcast with Guest Appearances, Airs on Newsmax, Saturday, September 9, 2023, 3:00-4:00 PM ETEpisode 500: 1). Hempacco Co., Inc. (NASDAQ: HPCO) ($HPCO) 2). PetVivo Holdings, Inc. (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV) 3). Iagon (CRYPTO: IAG) ($IAG) 4). Blue Castle Ventures LTD. (CRYPTO: BCVD) ($BCVD) 5). Lahontan Gold Corp. (OTCQB: LGCXF) (TSXV: LG) ($LGCXF)6). Mangoceuticals, Inc. (NASDAQ: MGRX) ($MGRX). 7). AppTech Payments Corps (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX) ("AppTech") 8). The Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM) 9).Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) (Sekur®) - https://www.newsmaxtv.com/Shows/New-to-the-Street & https://www.newtothestreet.com/.This content is not available due to your privacy preferences.Update your settings here to see it.New to The Street airs on three major cable networks.NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- In a release issued by FMW Media Works Corp today at 9:30 am EST, the timing of the broadcast was mentioned as Saturday, September 9, 2023, 3:30 PM ET. The correct time is Saturday, September 9, 2023, 3:00-4:00 PM ET. The updated release follows.FMW Media Works’ show New to The Street celebrates its 500th episode with a line-up of interesting corporate guest appearances. The show will air on Newsmax, Saturday, September 9, 2023, at 3:00-4:00 PM ET.New to The Street’s 500th TV episode line-up, features nine (9) interviews of the following Corporate representatives:1). Hemp Cigarettes/Hemp Products – Hempacco Co., Inc.'s (NASDAQ: HPCO) ($HPCO) interviews with Sandro Piancone, Co-Founder/CEO2). Pet Health – PetVivo Holdings, Inc.'s (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV) interview with John Lai, CEO/President.3). Blockchain Data Management/Compliance - Iagon's (CRYPTO: IAG) ($IAG) interview with Dr. Navjit Dhaliwal, CEO4). Financial Market Strategies/Blockchain – Blue Castle Ventures LTD.'s (CRYPTO: BCVD) ($BCVD) interviews with David Rojas, CEO/Founder.5). Gold/Silver Mining – Lahontan Gold Corp.'s (OTCQB: LGCXF) (TSXV: LG) ($LGCXF) interview with Kimberly Ann, Founder, CEO, President, and Director.6). “Breaking it Down” Segment -TV Host Ana Berry with Jacob Cohen, Chief Executive Officer of Mangoceuticals, Inc. (NASDAQ: MGRX) ($MGRX).7). Fintech – AppTech Payments Corp.’s (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX) ("AppTech") interview with Luke D'Angelo, CEO/Chairman.8). Sustainable Solutions - The Sustainable Green Team, Ltd.'s (OTCQX: SGTM) ($SGTM) interview with Brian Rivera, Director of Administration, and Brian Meier, Chief Operating Officer.Story continues9). "Sekur Privacy & Sekur Security Segment – The Weekly Hack" interview with internet privacy expert Mr. Alain Ghiai, CEO, Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) (Sekur®).Episode 500Sandro Piancone, Co-Founder/CEO of Hempacco Co., Inc. (NASDAQ: HPCO) ($HPCO) appears on New to The Street’s 500th episode, providing TV Host Jane King and viewers with his corporate update. Hempacco's mission is to become the largest disrupter of the $1T tobacco industry with its Hemp Disrupting Tobacco™ products. Recently, the HPCO entered a joint-venture agreement with music entertainer Snoop Dogg to create and sell a line of hemp-derived consumer products. The JV product “Dogg lbs” (pronounced dog pounds) is hemp-derived CBD and Delta-9 infused gummies that comes in 3-flavor profiles, blue/raspberry, cherry/lemon, and grape, available in 5-count and 20-count sizes. As the first of its kind in the CBD/ Hemp marketplace, “Dogg lbs” packaging has a QR code which immediately downloads an Augmented Reality (AR) video of Snoop Dogg talking to the consumer. The product launch was a great success at the recent Champ Trade Show in Las Vegas Nevada. Sandro further explains that the marketing plan is to continue to sign-up master distributors who have existing locations to place products. Currently, they signed three master distributors, New York, Chicago and one in Alabama who combined have around 100,000 locations. The distributors in the mid-west and south ordered about two truckloads of product, which equates to $1M. The Company expects to roll out further Snoop Dogg JV products currently in production. All packaging is childproof, featuring a QR code for AR video download. The on-screen QR code is available during the show; Hempacco Co., Inc. - https://hempaccoinc.com/ & https://realstuffsmokables.com/.On the 500th episode, New to The Street's TV Host Jane King talks with John Lai, CEO/President of PetVivo Holdings, Inc.'s (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV) ("PetVivo") about the Company. PetVivo manufactures, commercializes, and licenses innovative medical devices and pet therapeutics. John updates viewers about the Company's patented product, Spryng with OsteoCushion Technology, a veterinarian's tool to help pet owners manage their pets' osteoarthritis and joint-related ailments. Today's Veterinary Practice recently published a peer-reviewed article about Spryng's efficacy. The Author, Dr. Tamara Grubb, DVM, Ph.D., DACVAA, wrote the article: "Select Drugs and Compounds for Canine Osteoarthritis Management," which addresses osteoarthritis' current treatments and the successfulness of new novel therapies. One such new therapy mentioned is Spryng, and how it looks at the bone-on-bone causes of osteoarthritis, a front-line use treatment, and an effective alternative to dogs that cannot take NSAIDs (Non-steroidal anti-inflammation drugs). John believes Dr. Grubb will discuss Spryng and her article in upcoming veterinarian conferences. As of June 30, 2023, Spryng is now used in 450 clinical locations in 47 states, up from 50 locations in 2022. As Spryng becomes more widely known as an effective disruptive technology for treating dogs, horses, and cats with osteoarthritis, PETV sees upward growth. The on-screen QR code is available during the show; download or visit PetVivo Holdings, Inc. - https://petvivo.com/ & Spryng with OsteoCushion Technology - https://www.sprynghealth.com/.TV Host Jane King on New to The Street’s 500th episode talks with Dr. Navjit Dhaliwal, CEO about Iagon’s (CRYPTO: IAG) ($IAG) blockchain technology for data compliance and storage needs. The Company started in 2017 and saw an immediate need for a decentralized application for data management. From its patented geolocation technology, Iagon offers its end-users direct access to specific data inputs, meeting compliance rules and regulations. Countries enforce data privacy uses worldwide, and Iagon can assist timely and efficiently with end-user needs to meet compliance regulatory conditions. Centrally located, big tech platforms have limitations on data security protocols outside of some jurisdictions' compliance rules. Iagon's decentralized platform spreads data through numerous locations and is blockchain-protected. The blockchain provides performance properties, viability enhancements, trustworthiness, and location verification on data integrity. Iagon's use of a W3 (Web 3.0) blockchain in maintaining, storing, and controlling data exceeds the limitation of Web 2.0 applications and programs. End-users who adopt Iagon's technological approach to data management can meet or exceed the regulatory requirements necessary for data storage. Decentralized data storage provides end-users with a customizable system for its data and security requirements layered with encryption protocols. Entities dealing with medical HIPPA privacy rules and the European Union's GDPR (General Data Protection Regulation) compliance rules need immediate solutions to avoid compliance penalties and fines while significantly limiting the potential threat of a data cybersecurity breach. As worldwide compliance rules/regulations increase, Iagon believes many entities will adopt its blockchain data management platform. The on-screen QR code is available during the show; download or visit Iagon - https://iagon.com/.Blue Castle Ventures, LTD’s. (CRYPTO: BCVD) ($BCVD) ("Blue Castle") Chief Executive Officer / Founder, David Rojas is on the 500th episode talking with New to The Street’s TV Host Jane King about his Company. Blue Castle provides and develops strategic asset-backed financial products for worldwide financial markets. Additionally, Blue Castle offers financial training courses and digital blockchain certification. David tells viewers that the financial courses are helping many who have shown successful trades. David talks about his concerns with the overall market where many industry segments are not performing well. The companies that have an AI (Artificial Intelligence) platform seem to be the only high-tech entities doing well in stock price appreciation. But he has concerns with AI entities because these stock valuations remain very high, and macroeconomic pressures could hamper these public companies’ abilities to maintain such high valuations. He likes quantum computer companies and believes that the shift to quantum computing will change and greatly enhance end-users’ control over data and computations going forward. David believes that rules and regulations are always important to maintain market integrities and operations, and he expects more rules in the blockchain sector. Anyone interested in open an account and would like to join a training class can contact the Blue Castle for more information. Blue Castle Ventures, Ltd. does not trade cryptocurrencies nor carry out transactions or investments with cryptocurrencies. All the Company's operations are in US dollars. The Company's blockchain, $BCVD, is a cryptography and security system. The on-screen QR code is available during the show; download or visit Blue Castle Ventures, Ltd. - https://bluecastleventures.ca/.Kimberly Ann, Founder, CEO, President, and Director of Lahontan Gold Corp. (OTCQB: LGCXF) (TSXV: LG) ($LGCXF) is on New to Street’s 500th show talking to TV Host Jane King. From the Company’s Gold mining site in Nevada, Kimberly explains the Company’s junior mining business. LGCXF’s Santa Fe property is the Company’s flagship holding, a past gold producer, and management has expectation of getting the open-pit gold mining operations going once again. The Company’s holdings are held in Mineral County, Nevada, the friendliest US state to the mining industry. Gold and silver are so important to high-tech and alternative energy products, Kimberly explains the scarcity of necessary metals and that everyone should own precious metals. In the ensuing months ahead, the Company will update more on its drilling results at its Santa Fee mine and provide more information on its other property holdings. Lahontan Gold has a Canadian 43-101 report on its Santa Fee operations. LGCXF has a five-year operational plan that they continue to advance on all its mining projects. The on-screen QR code is available during the show; download or visit Lahontan Gold Corp. - https://lahontangoldcorp.com/.“Breaking it Down” Segment premiers on New to The Street’s 500th episode, hosted by Ana Berry. On this segment, Ana talks with Jacob Cohen, Chief Executive Officer of Mangoceuticals, Inc. (NASDAQ: MGRX) ($MGRX) (“MangoRX”). MangoRx is a Company that focuses on developing, marketing, and selling various men's health and wellness products through its telemedicine platform. Jacob explains what makes MangoRx product different than competitors’ product in the treatment for erectile dysfunction (ED). Using a combination of Sildenafil (Viagra) or Tadalafil (Cialis), oxytocin and L-Arginine amino acid, Mango is immediately absorbed under the tongue. This absorption, in most uses, can provide immediate results for those suffering from ED. The Company’s product line Mango is a play on words “Man Go,” with a focus on providing health and wellness so a man can be the best in bed, boardroom, and gym. Men’s health and wellness market is a growing $4B marketplace, and unfortunately, younger men are experiencing ED issues. Management is aggressively marketing Mango to the younger demographic using digital marketing and influencers. Jacob says that using Mango can change oneself from erectile dysfunction to erectile “Function,” boasting confidence and self-esteem. The Company’s marketing slogan “Make America Hard Again” is gaining lot of traction and popularity, and the website, https://makeamericahardagain.com/ offers hats, tee-shirts, water bottles and other products to promote and make awareness about ED. Jacob informs viewers that investors become customers, and customers become investors, an excellent marketing relationship for MangoRx. The Company expects to see continued growth upwardly now and throughout 2024. Mango is available online at www.mangorx.com. The on-screen QR code is available during the show; download or visit Mangoceuticals, Inc. - www.mangorx.com.New to The Street’s TV Host Jane King on the 500th episode talks with Luke D'Angelo, CEO /Chairman of AppTech Payments Corp. (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX) ("AppTech"). AppTech is a leading Fintech Company specializing in seamless commerce solutions, allowing corporations, small and midsized enterprises ("SMEs"), and consumers efficient digital payment solutions and options. Banks and merchant service providers offer no truly specialized solutions for payment processing. AppTech’s Specialty Payments division continues to offer innovations for merchants and customers in seamless payment transactions. Many AppTech clients want a customized solution where they can integrate texting, SMS, mobile and other platforms into an easy-to-use platform for receiving and sending payments. Luke sees strong growth from current services and expects further upside potential as the Company rolls out more fintech solutions. Regardless of current macroeconomic pressures, AppTech clients are seeking new and innovative solutions for timely, seamless, and efficient payment processing. The Company’s Fintech cloud-based patented platform Commerse™ is changing the legacy payment and banking industries. The on-screen QR code is available during the show; download or visit AppTech Payments Corp. - https://apptechcorp.com/.On New to The Street’s 500th episode, The Sustainable Green Team, Ltd.'s (OTCQX: SGTM) ($SGTM) Brian Rivera, Director of Administration, and Brian Meier, Chief Operating Officer, are at the Nasdaq MarketSite Studio with TV Host Jane King. Viewers get an insight into SGTM's environmentally conscious solutions. Brian Rivera talks about using the word "Sustainability" and how many industries use the word in describing business operations. He believes that "Sustainable" business practices are actions that improve communities and their surrounding environments. With young children, Brian Rivera wants sustainable measures to ensure a better and cleaner future for the next generation. Some see wood and other organic matter as useless waste; he and the rest of the SGTM team see sustainability as converting waste into usable organic products. Brian Rivera explains the Company's newest product, HumiSoil, a technologically advanced product that uses humus to restore soil's organic nutrients and can create water in soils. HumiSoil is the answer to improve soil conditions and water hydration, which can significantly improve the yields of organic fruits, vegetables, and other agricultural products. Brian Meier, Chief Operating Officer, talks about managing the Company and its subsidiaries. With eight facilities and over 250 employees, Brian says that it takes the skills and the commitment of the Company's employees to create and grow sustainable products. The most crucial asset for SGTM is its employee resources. Brian Meier welcomes all viewers to visit the Company’s website to learn more about SGTM's sustainability products and services. The Company has a YouTube channel with many informative videos about the Company, HumiSoil, and other initiatives. The Sustainable Green Team, Ltd. and VRM BioLogik Group have a strategic relationship and a distribution agreement, whereas SGTM can sell HumiSoil in the North American market. The on-screen QR code is available during the show; The Sustainable Green Team, Ltd. - https://www.thesustainablegreenteam.com/ and Mulch Manufacturing, Inc. - https://mulchmfg.com/."Sekur Privacy & Sekur Security Segment – The Weekly Hack" is on New to The Street’s 500th episode. Internationally acclaimed internet privacy expert Mr. Alain Ghiai, CEO of Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) and TV Host and Multi-media Journalist Ana Berry talk about business email compromise (BEC). Cybercrimials hack into a business email system and look for the most profitable vulnerabilities. Alain says these hackers scan and watch email patterns looking for specific private data, in some cases they wait week to month in planning a hack. Sekur offers secure and private solutions, protecting businesses and individuals from potential cybercrime. For reasonable prices, the Sekur product line-ups offer subscribers several services that reduce the possibility of a cyber hack. Businesses using SekurMail, SekurMessenger and SekurVPN services can have a very secure and private e-communication platform. SekurSend/SekurReply, Chat-by-Invite, SekurMail, and SekurMessenger all contain encryption technology to eliminate hack attempts and threats. And SekurVPN adds an additional layer of protection so that internet traffic is private and secure, and the end-user always appears to be in Switzerland. The Company owns and operates its servers in Switzerland, a country with strict privacy laws. PROMO CODE: PRIVACY is now available, giving a 15% savings on all product subscriptions, and the discount will remain active for five years. Sekur Private Data, Ltd. never data mines, never sells data, never tracks web traffic, and never asks for a phone number. The on-screen QR code is available during the show to download more info or visit Sekur Private Data, Ltd. – https://sekurprivatedata.com/, http://www.Sekur.com and https://www.sekurvpn.com/.About Hempacco Co., Inc. (NASDAQ: HPCO) ($HPCO):Hempacco Co., Inc.'s (NASDAQ: HPCO) ($HPCO) goal is Disrupting Tobacco's™ nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff™ functional hemp cigarette and rolling paper brands. Hempacco's operational segments include smokables and hemp rolling paper manufacturing, smokable technology development, The Real Stuff™ brand of functional smokables and rolling paper, and Cheech & Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross, and Snoop Dogg joint venture of hemp-derived products. Learn more at hempaccoinc.com and order products at www.realstuffsmokables.com.About PetVivo Holdings, Inc. (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV):PetVivo Holdings Inc. (NASDAQ: PETV) (NASDAQ: PETVW) ($PETV) is an emerging biomedical device company currently focused on the manufacturing, commercialization, and licensing of innovative medical devices and therapeutics for companion animals. The Company's strategy is to leverage human therapies for treating companion animals in a capital and time-efficient way. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than more stringently regulated pharmaceuticals and biologics. PetVivo has a pipeline of seventeen products for treating animals and people. A portfolio of nineteen patents protects the Company's biomaterials, products, production processes, and use methods. The Company's lead product Spryng™ with OsteoCushion™ technology, a veterinarian-administered, intraarticular injection for managing lameness and other joint-related afflictions, including osteoarthritis, in dogs and horses, is currently available for commercial sale - https://petvivo.com/ and https://www.sprynghealth.com/.About Iagon (CRYPTO: IAG) ($IAG):Iagon was founded in 2017 in Hamar, Norway because people need to be in control of their data. The idea started as an attempt at solving significant issues related to how healthcare data is stored, with modern solutions severely lacking transparency for individuals at a national and international level. The initial ambition of Iagon was to create a secure way for individuals to hold and thereby own their health data and interact more effectively with health services. Iagon aims to build a marketplace for decentralized storage and computing resources. The first version of the protocol will implement a storage marketplace to make joining the shared storage economy simple and transparent for everyone. The protocol will allow storage providers to earn rewards by trading their excess storage to resource consumers on a marketplace at a transparent price while ensuring data privacy, security, and accessibility. Its token-based economy is based on computer, server, and data center owners who join the storage and processing power grids. In return for sharing the capabilities of their machine, they will be granted Iagon tokens that can be traded back to fat money, while any party who wishes to utilize their capabilities will purchase Iagon tokens to distribute them to the parties that provide their services to the blockchain grid - https://iagon.com/.About Blue Castle Ventures, LTD. (CRYPTO: BCVD) ($BCVD):Blue Castle Ventures, LTD. (CRYPTO: BCVD) ($BCVD) is the first Company in the world to have digital assets that have true physical collateral. NFTs are our main traded digital asset; these NFTs have an actual painting or collateral from a real artist. Blue Castle Ventures has its own blockchain system to guarantee operations. The Company also has products that emulate financial planning based on NFTs commercialization and stock trading - https://bluecastleventures.ca/.About Lahontan Gold Corp. (OTCQB: LGCXF) (TSXV: LG) ($LGCXF):Lahontan Gold Corp. (OTCQB: LGCXF) (TSXV: LG) ($LGCXF): is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining-friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Mine, had past production of 345,000 ounces of Gold and 711,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Bureau of Mines and Geology, 1995). The Santa Fe Mine has an Indicated Mineral Resource of 1,112,000 oz Au Eq (grading 1.14 g/t Au Eq) and an Inferred Mineral Resource of 544,000 oz Au Eq (grading 1.00 g/t Au Eq), all pit-constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company will continue aggressively exploring Santa Fe during 2023 and begin evaluating development scenarios to bring the Santa Fe Mine back into production. Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., is the Qualified Person for the Company and approved the technical content of this news release - https://lahontangoldcorp.com/ (* Please see the Santa Fe Project Technical Report, Authors: Trevor Rabb and Darcy Baker, P. Geos. Effective Date: December 7, 2022, Report Date: March 2, 2023. The Technical Report is available on the Company's website and SEDAR.)About Mangoceuticals Inc. (NASDAQ: MGRX) ($MGRX):Mangoceuticals, Inc. (NASDAQ: MGRX) ($MGRX) (“MangoRx”) is a company focused on developing, marketing, and selling a variety of men's health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men's wellness telemedicine services and products as a growing sector, especially related to erectile dysfunction (ED). The Company has developed a new brand of ED product under the brand name "Mango" (think: "Man, Go!"). Mango is a prescription medication that must be approved by a physician. After an individual has completed an online telehealth visit, our network of medical providers will review and approve a prescription if medically appropriate - www.mangorx.com.About AppTech Payments Corp (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX): AppTech Payments Corp. (NASDAQ: APCX) (NASDAQ: APCXW) ($APCX) provides digital financial services for corporations, small and midsized enterprises ("SMEs"), and consumers through the Company's scalable cloud-based platform architecture and infrastructure, coupled with our commerce experiences development and delivery model. AppTech maintains exclusive licensing and partnership agreements and a full suite of patented technology capabilities - www.apptechcorp.com. About The Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM)The Sustainable Green Team, Ltd. (OTCQX: SGTM) ($SGTM) is an emerging provider of environmentally beneficial solutions for preserving natural resources and the municipal waste and recycling industries. The Company is a wholesale manufacturer and supplier of wood-based mulch and lumber products, primarily in the Midwest, Southeast, and Ohio Valley regions. The Company also provides arbor care and storm recovery services to municipalities, corporations, and consumers, primarily in the southeastern United States. The Company plans to expand its operations through organic growth and strategic acquisitions that are both accretive to earnings and positioned for rapid growth from the resulting synergistic opportunities identified. The Company's customers include governmental, residential, and commercial clients - https://www.thesustainablegreenteam.com/.About Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF): Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) is a cybersecurity and internet privacy provider of Swiss-hosted solutions for secure communications and secure data management. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted emails, and secure communication tools. It sells its products through its websites www.sekur.com, approved distributors, and telecommunication companies worldwide. Sekur Private Data, Ltd. serves consumers, businesses, and governments worldwide - https://www.sekurprivatedata.com and https://www.sekur.com; Twitter: @sekurprivate.About New to The Street:New to The Street is an FMW Media production that operates one of the longest-running US and International sponsored and syndicated Nielsen Rated programming television brands, "New to The Street. Since 2009, New to The Street has run biographical interview segment shows across major U.S. television networks. The Nielsen Rated and sponsored broadcasts programming platform reaches millions of homes in the US and international markets. FMW's New to The Street / Newsmax televised broadcasting platform airs its syndication on Saturdays at 3:30 – 4:00 PM ET. The show also appears on Bloomberg and the FOX Business Network as sponsored programming. FMW is also one of the nation's largest buyers of linear television, long and short-form paid programming - https://www.newsmaxtv.com/Shows/New-to-the-Street, https://www.newtothestreet.com/ & https://www.youtube.com/watch?v=4-G2--mRQUw&t=14s.Forward-Looking Statements Disclaimer US/Canada:This press release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements do not guarantee future performance or results and will not necessarily be accurate indications of the times at which such performance or results are achieved. This press release should be considered in all filings of the Companies contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These statements reflect management's current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding agents that join Real. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.CONTACT:FMW Media Contact: Monica Brennan [email protected] 1-917-330-2564"New to The Street" Business Development Office 1-516-696-5900 [email protected] photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc9f276a-7329-4360-86ce-1081509a9f4bA video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/031c9926-381d-4a58-9f90-c3eb4e2a924a

GlobeNewswire

UPDATE: New to The Street Proudly Announces its 500th Special Edition 1-hour Broadcast with Guest Appearances, Airs on Newsmax, Saturday, September 9, 2023, 3:00-4:00 PM ET

https://finance.yahoo.com/news/street-proudly-announces-500th-special-143800177.html

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