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ENSV

ParticipantsRich Murphy; Executive Chairman; Enservco CorporationMark Patterson; CFO; Enservco CorporationJay Pfeiffer; IR; Pfeiffer High Investor Relations, Inc.Jeff Grampp; Analyst; Alliance Global PartnersPresentationOperatorGreetings. Welcome to Enservco's second-quarter earnings call. (Operator Instructions) Please note this conference is being recorded.I will now turn the conference over to your host, Jay Pfeiffer, Investor Relations. You may begin.Jay PfeifferHello and welcome to Enservco's 2023 second-quarter conference call. Presenting on behalf of the company today are Rich Murphy, Executive Chairman; and Mark Patterson, Chief Financial Officer.As a reminder, matters discussed during this call may include forward-looking statements that are based on management's estimates, projections, and assumptions as of today's date and are subject to risks and uncertainties disclosed in the company's most recent 10-K as well as other SEC filings. The company's business is subject to certain risks that could cause actual results to differ materially from those anticipated in its forward-looking statements. Enservco assumes no obligation to update forward-looking statements that become untrue because of subsequent events. I will also point out that management's ability to respond to questions during this call is limited by SEC Reg FD which prohibits selective disclosure of material nonpublic information.A webcast replay of today's call will be available at enservco.com after the call. In addition, a telephone replay will be available beginning approximately two hours after the call. Instructions for accessing the webcast or replay are available in today's news release.And with that, I'll turn the call over to Rich Murphy. Rich, please go ahead.Rich MurphyThanks, Jay, and good morning and welcome to our second-quarter earnings call. Yesterday, we announced financial results and filed our Form 10-Q for the second quarter and six months period ended June 30, 2023. We are pleased to report our ninth consecutive quarter of increased year-over-year revenue. As usual, credit goes to our field teams who safe and reliable service delivery has engendered a high degree of loyalty among our blue-chip customer base across all the basins in which we operate.In addition to driving higher year-over-year revenue for nine consecutive quarters, our teams have also been instrumental in our efforts to operate more efficiently through reduced operating costs that improve profitability. We also benefited from colder weather, particularly in the West, that extended our heating season further into the spring. As you know, Q2 and Q3 are traditionally our slower off-season quarters due to warmer temperatures that keep our heating equipment on the sideline much of the time. So the cooler weather was a welcome addition, and we hope the beginning of a trend as many weather prognosticators are predicting more severe winter weather this year.Our heating business in the first and fourth quarters is responsible for the majority of our annual revenue and profitability in a given year. So we're cautiously optimistic that customer demand for heating services will continue to accelerate in coming months.Back to our second quarter results. Our profit metrics also showed continued improvement as both net income and adjusted EBITDA results were up year over year, and Mark will get into the details in just a moment.Our balance sheet, a major focus for us in recent years and a key element of our plans to enhance shareholder value was further strengthened in the second quarter, and through six months, we achieved a 39% reduction in long-term debt as compared to the 2022 year-end balance.So with that, I'm going to have Mark take you through some of the numbers before I will close with some thoughts on our go-forward strategy. Mark?Story continuesMark PattersonThank you, Rich. Beginning with our second quarter results, Q2 revenue increased 8% year over year to $3.7 million from $3.5 million on the strength of a 147% increase in completion services. This was offset by a 7% decline in production services revenue. The decline in production services revenue was primarily related to our decision to exit our North Dakota operations. But that decline was substantially offset by significant gains within our more profitable Texas operations.Due to adjusted EBITDA improved by more than $500,000 to a loss of $1 million compared to a loss of $1.6 million in the same quarter last year, our bottom line in the second quarter improved by $1.3 million to a net loss of $2.6 million or $0.14 per basic and diluted share versus a net loss of $3.9 million or $0.34 per basic and diluted share in the same quarter last year. The reduced net loss was attributable to the combination of higher revenue and the impact of cost reductions across our business, including most notably a 43% decrease in SG&A expense in the quarter. Our SG&A run rate going forward will be in the range of $800,000 per quarter. That compares to an average of $1.2 million to $1.4 million per quarter last year, a roughly 50% reduction.Turning to the six-month results. Revenue through six months increased 5% year over year to $12.6 million from $12 million in the prior year. The increase reflected 12% growth in completion services, partially offset by the 2% decline in production services. Adjusted EBITDA through the six months improved by $1.3 million to nearly breakeven from a negative $1.4 million in the same period of last year. That's a pretty significant positive swing year over year and solid evidence that we're executing very well on our cost reduction plan.Net loss through six months was $3.6 million or $0.22 per basic and diluted share compared to a net loss of $800,000 or $0.07 per basic and diluted share in the same period last year. Remember, in the year ago period, we booked a nonrecurring $4.3 million gain on debt extinguishment, which skews the year-over-year comparison.Also in the second quarter, the company achieved significant cost reductions at both the operating and corporate levels through six months. Further to the issue of cost reductions, as we told you last quarter, we're focused very intently on rightsizing our business to align with projected revenue growth rates. This effort has included reducing personnel costs through headcount reduction at the corporate level and within our field teams during the less productive seasons.Lowering our public company costs, including legal, accounting and Investor Relations, reducing cost in real estate rent, utilities, equipment rent, repairs, insurance, and everything else. Regarding the latter, insurance, we've recently completed some insurance restructuring that we think should result in significant annual savings with higher limits, broader coverages, and better programs.So with that, I'll hand the call back over to Rich.Rich MurphyThanks, Mark. I'll close with a few comments on two topics that are very important to me, both as Executive Chairman and as Enservco's largest shareholder. The first is our dramatically improved balance sheet, and the second is our ongoing effort to augment our legacy businesses with new revenue streams with an emphasis on year-round services that can help us reduce the seasonal aspect of our business.As we said in our earnings release, we have made tremendous progress in delevering our balance sheet over the past few years. In Q2, we eliminated another $1.8 million of long-term debt, bringing along our total long-term debt balance down to $4.6 million compared to $7.6 million at 2022 yearend and compared to approximately $36 million at our peak debt period in 2019. We have funded this effort through a combination of debt restructuring concessions with lenders, equity sales, conversion to equity of convertible debt held by Cross River Partners, and the sale of non-revenue generating surplus equipment.Massive reduction in long-term debt does a couple of things for us. One, it should enable us to refinance our equipment loan at more favorable rates, which will lead to further cost savings. But more importantly, it translates into an enormous reduction in debt service, millions of dollars in cash that can be retailed to areas that will enhance shareholder value.And that brings me to the topic number two, expanding existing revenue streams and creating new ones. Our plans are to scale the business through organic growth that is wallet share expansion, new customer acquisition, and potential service line expansion as well as M&A activity. We have initiatives underway on all fronts, although for competitive reasons, we're not able provide much detail until we're further along in the process. I can say that we have a non-binding letter of intent in place on one transaction that, if consummated, would add depth to our management team and strengthen our position in the key basin.So with that, thank you again for joining the call today. I'll be happy to take any questions you might have. Operator?Question and Answer SessionOperator(Operator Instructions) Jeff Grampp, Alliance Global Partners.Jeff GramppRich, I wanted to start maybe on the last point on the M&A topic and a related point being the balance sheet side of things. So you guys have obviously made tremendous progress on reducing the debt. It sounds like you no longer view the balance sheet as an impediment to M&A, but I guess just wanted to be crystal clear on that point. And would you like the debt to be lower? Does that expand the breadth of M&A opportunities, or do you feel you're sufficiently delevered to go after the M&A opportunities that interest you guys?Rich MurphyGood question, Jeff. The balance sheet, ideally, I want to have zero debt because coming from where we were at $36 million in debt to today, it has been a long haul, and I'm proud of everyone involved with that restructuring and thankful for the banks that work with us. But, yeah, this is -- if we stuck with a steady-state business that we currently have, I don't want any debt because we're seasonal and cyclical. Having both those doesn't really bode well for debt.As we said in our remarks, the M&A, we're looking at getting out of this seasonality piece. And as we grow out the seasonality piece, we'll be able to support a little bit of deleverage. I'm somewhat debt averse, though, and any kind of debt we take on would be probably to replace the expensive debt we currently have. So I don't know if that answers your question. But ideally, no debt. As the largest shareholder, one day, I dream of buying back shares and not talking about refinancing debt.Jeff GramppYeah, understood. I appreciate that. That's helpful.And then on the production services business, it was down a little bit year over year. It sounded like based on the press release, some of that was maybe due to just moving some equipment and presumably some downtime there. Can you give us a sense of like, I don't know, like a pro forma Q2 if all equipment was deployed in the areas that they currently are? And I guess ultimately just trying to assess how much of a headwind was that shift of equipment for you guys when evaluating the Q2 results.Rich MurphyIt's a little bit of a misnomer in terms of looking at the numbers because our Texas business is booming, and I've said that in the past. If you just took Texas, it's up over 20% in the quarter on a revenue basis. Where it gets netted out is we shut our North Dakota operations because we couldn't have a big -- I moved a lot of equipment obviously out of Texas, but we just couldn't -- North Dakota is a tough place to do business, but you need to have -- I don't know how to -- It's just a different world up there with regard to safety, winning customer bids. You have to go through a lot of Indian Reservation type work. So it is not a great place to do business.And when oil prices turn down, that's usually the first phase to go dark. So I made a strategic decision to say, hey, this equipment, particularly the hard orders, are better utilized in Texas. So we're actually comparing zero revenue North Dakota in Q2 versus a bigger number, even though it's unprofitable revenue, North Dakota. This is the last -- basically the last anniversary of that basin.And we also did in second quarter in Colorado some construction work, dirt hauling in Q2 last year. And I put an end to that as well because we just have certain profit metrics. If it doesn't meet a gross profit percent number, then we're not going to do the work anymore. So shutting down those two really offset the positive thing that's going on in Texas.Jeff GramppGot it. That's really helpful. And then last one for me, just kind of a bigger picture question. Rig counts have trended down in tandem with commodity prices here broadly speaking. So just trying to think, when we're looking at back-half results or thinking about back-half results for 2023, and there's going to be a little bit of a headwind there, presumably, but I know you guys have also made some really strong work, both restoring margins and also maybe capturing market share in the markets you guys are in. So just wondering, big picture, how do you guys think about the gives and takes with broader industry activity levels relative to what you guys are achieving in the field?Rich MurphySo we talked about that. We talked about three basins, right? We talked about Colorado, Texas, and PA for us. And Colorado is a fascinating basin because it's so consolidated now. They really have four or five big players left. That basin, I'm knocking on wood, as I say it, but that basin is very strong right now in pricing versus last year. So we're very encouraged by that.And the fact of the matter is, the fact that the big players, the Civitas's and the Chevrons of the world are actually -- they tend not to drop rigs as quickly as the smaller guys. So they have five-year plans, and they're going through with that. And we're seeing strong demand from those players.The Texas market continues to be very robust. That's the hot oiling market. And PA could be determined. They usually don't start pricing PA for the heating season until September. So we'll wait, but we're very optimistic about some things we've got going on there.Jeff GramppOkay, great.Operator(Operator Instructions) And there were no other questions at this time. I would now like to hand the call back to Rich Murphy for closing remarks.Rich MurphyI just want to say thank you to everyone who has been on this ride for the last couple of years in this deleveraging effort. It has been long. We're at the tail end of it now, and I couldn't be more excited about the future and our current employees who have just grinded throughout this whole process to make this work.So thank you to our employees and our shareholders who have stuck with me during this period of time, and I am looking forward to brighter times ahead. So thanks again and look forward to catching up with everyone after Q3. Take care.OperatorThank you. This does conclude today's conference. You may disconnect your lines at this time. Thank you for your participation.

Thomson Reuters StreetEvents

Q2 2023 Enservco Corp Earnings Call

https://finance.yahoo.com/news/q2-2023-enservco-corp-earnings-050850862.html

71c6d41c-8cf7-3b2a-b2e4-60d3d1cfb573

EOG

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story even if these companies are loss-making. Unfortunately, these high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. Loss making companies can act like a sponge for capital - so investors should be cautious that they're not throwing good money after bad.Despite being in the age of tech-stock blue-sky investing, many investors still adopt a more traditional strategy; buying shares in profitable companies like EOG Resources (NYSE:EOG). Even if this company is fairly valued by the market, investors would agree that generating consistent profits will continue to provide EOG Resources with the means to add long-term value to shareholders. Check out our latest analysis for EOG Resources EOG Resources' Improving ProfitsEOG Resources has undergone a massive growth in earnings per share over the last three years. So much so that this three year growth rate wouldn't be a fair assessment of the company's future. As a result, we'll zoom in on growth over the last year, instead. To the delight of shareholders, EOG Resources' EPS soared from US$9.81 to US$14.95, over the last year. That's a impressive gain of 52%.One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. We note that while EBIT margins have improved from 28% to 44%, the company has actually reported a fall in revenue by 5.4%. While not disastrous, these figures could be better.In the chart below, you can see how the company has grown earnings and revenue, over time. To see the actual numbers, click on the chart.earnings-and-revenue-historyIn investing, as in life, the future matters more than the past. So why not check out this free interactive visualization of EOG Resources' forecast profits?Story continuesAre EOG Resources Insiders Aligned With All Shareholders?We would not expect to see insiders owning a large percentage of a US$78b company like EOG Resources. But we do take comfort from the fact that they are investors in the company. We note that their impressive stake in the company is worth US$263m. We note that this amounts to 0.3% of the company, which may be small owing to the sheer size of EOG Resources but it's still worth mentioning. So despite their percentage holding being low, company management still have plenty of reasons to deliver the best outcomes for investors.Does EOG Resources Deserve A Spot On Your Watchlist?For growth investors, EOG Resources' raw rate of earnings growth is a beacon in the night. Further, the high level of insider ownership is impressive and suggests that the management appreciates the EPS growth and has faith in EOG Resources' continuing strength. On the balance of its merits, solid EPS growth and company insiders who are aligned with the shareholders would indicate a business that is worthy of further research. Still, you should learn about the 2 warning signs we've spotted with EOG Resources (including 1 which is significant).The beauty of investing is that you can invest in almost any company you want. But if you prefer to focus on stocks that have demonstrated insider buying, here is a list of companies with insider buying in the last three months.Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.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.

Does EOG Resources (NYSE:EOG) Deserve A Spot On Your Watchlist?

https://finance.yahoo.com/news/does-eog-resources-nyse-eog-120030411.html

b480e683-dfee-3f8a-8540-959818a9bc97

EOG

EOG Resources (EOG) closed the most recent trading day at $132.73, moving +0.9% 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 oil and gas company had gained 0.38% in the past month. In that same time, the Oils-Energy sector gained 3.78%, while the S&P 500 lost 1.27%.Wall Street will be looking for positivity from EOG Resources as it approaches its next earnings report date. In that report, analysts expect EOG Resources to post earnings of $2.79 per share. This would mark a year-over-year decline of 24.8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.77 billion, down 24.01% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.08 per share and revenue of $23.2 billion. These totals would mark changes of -19.48% and -9.75%, respectively, from last year.Investors might also notice recent changes to analyst estimates for EOG Resources. 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.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.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. The Zacks Consensus EPS estimate has moved 4.14% higher within the past month. EOG Resources is holding a Zacks Rank of #3 (Hold) right now.Looking at its valuation, EOG Resources is holding a Forward P/E ratio of 11.88. This valuation marks a premium compared to its industry's average Forward P/E of 9.86.Story continuesWe can also see that EOG currently has a PEG ratio of 0.41. 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 Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.49 at yesterday's closing price.The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% 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 reportEOG Resources, Inc. (EOG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

EOG Resources (EOG) Outpaces Stock Market Gains: What You Should Know

https://finance.yahoo.com/news/eog-resources-eog-outpaces-stock-220018980.html

704cff11-41a1-3316-b59b-8c2a2bada20e

EOLS

Key InsightsSignificantly high institutional ownership implies Evolus' stock price is sensitive to their trading actionsThe top 10 shareholders own 51% of the company Recent purchases by insiders To get a sense of who is truly in control of Evolus, Inc. (NASDAQ:EOLS), it is important to understand the ownership structure of the business. We can see that institutions own the lion's share in the company with 56% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute.In the chart below, we zoom in on the different ownership groups of Evolus. See our latest analysis for Evolus ownership-breakdownWhat Does The Institutional Ownership Tell Us About Evolus?Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.As you can see, institutional investors have a fair amount of stake in Evolus. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Evolus' earnings history below. Of course, the future is what really matters.earnings-and-revenue-growthInstitutional investors own over 50% of the company, so together than can probably strongly influence board decisions. It looks like hedge funds own 13% of Evolus shares. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. The company's largest shareholder is Medytox Korea Co., Ltd., with ownership of 8.9%. With 7.9% and 5.5% of the shares outstanding respectively, Stonepine Capital Management LLC and Daewoong pharmaceutical Co.,Ltd are the second and third largest shareholders.Story continuesWe also observed that the top 10 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent.Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.Insider Ownership Of EvolusThe definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.We can see that insiders own shares in Evolus, Inc.. As individuals, the insiders collectively own US$12m worth of the US$556m company. Some would say this shows alignment of interests between shareholders and the board. But it might be worth checking if those insiders have been selling. General Public OwnershipThe general public, who are usually individual investors, hold a 14% stake in Evolus. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.Private Company OwnershipWe can see that Private Companies own 8.9%, of the shares on issue. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.Public Company OwnershipPublic companies currently own 5.5% of Evolus stock. This may be a strategic interest and the two companies may have related business interests. It could be that they have de-merged. This holding is probably worth investigating further.Next Steps:While it is well worth considering the different groups that own a company, there are other factors that are even more important. For example, we've discovered 3 warning signs for Evolus (1 is a bit concerning!) that you should be aware of before investing here.But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Evolus, Inc. (NASDAQ:EOLS) is a favorite amongst institutional investors who own 56%

https://finance.yahoo.com/news/evolus-inc-nasdaq-eols-favorite-164426919.html

adcfdc08-acc2-3f5a-b548-b784ba99922a

EOLS

On September 6, 2023, Sandra Beaver, the Chief Financial Officer (CFO) of Evolus Inc (NASDAQ:EOLS), sold 3,178 shares of the company. This move is part of a broader trend of insider selling at Evolus Inc, which we will explore in this article.Warning! GuruFocus has detected 3 Warning Signs with EOLS. Click here to check it out. EOLS 30-Year Financial DataThe intrinsic value of EOLSSandra Beaver has been with Evolus Inc for several years, serving in the capacity of CFO. She has been instrumental in the company's financial planning and strategy, and her insider trades provide valuable insights into the company's financial health and future prospects.Evolus Inc is a performance beauty company with a customer-centric approach focused on delivering breakthrough products. The company's lead product is Jeuveau, a proprietary 900 kDa purified botulinum toxin type A formulation.Over the past year, the insider has sold a total of 5,389 shares and has not made any purchases. This recent sale of 3,178 shares is a significant portion of the insider's transactions over the past year.The insider transaction history for Evolus Inc shows a trend of more insider selling than buying. Over the past year, there have been 2 insider buys and 15 insider sells.Insider Sell: CFO Sandra Beaver Sells 3,178 Shares of Evolus Inc (EOLS)This trend of insider selling could be a signal to investors about the company's future prospects. However, it's important to note that insider selling can occur for a variety of reasons, and it doesn't necessarily indicate a negative outlook for the company.On the day of the insider's recent sale, shares of Evolus Inc were trading for $9.7 each, giving the company a market cap of $542.369 million. With a price of $9.7 and a GuruFocus Value of $11.74, Evolus Inc has a price-to-GF-Value ratio of 0.83. This suggests that the stock is modestly undervalued based on its GF Value.Insider Sell: CFO Sandra Beaver Sells 3,178 Shares of Evolus Inc (EOLS)The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of business performance from Morningstar analysts.In conclusion, while the insider's recent sale of shares may raise some eyebrows, the company's modest undervaluation and the broader context of insider transactions at Evolus Inc suggest that this may not necessarily be a cause for concern. As always, investors should consider a range of factors when making investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: CFO Sandra Beaver Sells 3,178 Shares of Evolus Inc (EOLS)

https://finance.yahoo.com/news/insider-sell-cfo-sandra-beaver-170324331.html

f0816552-5e99-376c-9661-a41da6057887

EPAM

Award Recognizes EPAM for the UkraineNow solution, an infrastructure provider that hosts critical humanitarian aid data.NEWTOWN, Pa., Sept. 6, 2023 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced it has won the 2023 Google Cloud Social Impact Partner of the Year Award for North America. The Company was recognized among a diverse group of organizations for creating the best examples of customer and partner innovation and transformation—solving today's biggest challenges across key industries worldwide. The Social Impact award is given to those who went above and beyond in 2022, creating or promoting initiatives that made a positive and lasting impact on our world.EPAM Wins 2023 Google Cloud Social Impact Partner of the Year Award in North AmericaLearn more about EPAM and Google Cloud's Partnership.  At the onset of the war in Ukraine, EPAM identified an opportunity to connect the dots between supply, demand, logistics and funding. The UkraineNow website was created as an infrastructure provider to Ukraine's Ministry of Social Policy and other volunteer organizations and NGOs. The website is hosted on Google Cloud and aggregates important humanitarian aid data from numerous endpoints. It supports the UkraineNow global initiative that mobilizes volunteers worldwide to help evacuate Ukrainian children, the elderly, and those with disabilities from the war zone."We're pleased to be recognized as a 2023 Google Cloud Partner of the Year for our continued efforts in providing unwavering aid and support to Ukraine during a crisis," said Stepan Mitish, VP and Head of EPAM Ukraine. "As an adaptive enterprise, we help customers pivot quickly under unrelenting waves of change. Such was the situation, and we quickly mobilized a plan to orchestrate a solution with the UkraineNow website in addition to our other support initiatives while consistently delivering exceptional results to Google Cloud and our mutual customers."Story continues"Google Cloud's partner awards recognize the significant impact and customer success that our partners have driven over the past year," said Kevin Ichhpurani, Corporate Vice President, Global Ecosystem and Channels at Google Cloud. "We're delighted to recognize EPAM as a 2023 Google Cloud Partner Award winner and look forward to a continued strong partnership in support of our mutual customers."EPAM and Google Cloud help solve companies' most complex cloud challenges. With more than 2,000 experienced Google Cloud engineers, EPAM has been a premier partner since 2018 and recently announced a strategic global partnership to help enterprises modernize and transform with the power of AI. Credentialed and specialized in Google Cloud technology and industry pillars, EPAM provides best-in-breed Google Cloud solutions to its customers.View the complete list of winners at https://cloud.google.com/awards.  Learn more about EPAM's partnership with Google Cloud here: https://www.epam.com/about/who-we-are/partners/google-cloud.  Learn more about EPAM's support for Ukraine here: www.epam.com/support-ukraine.  About EPAM SystemsSince 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its advanced software engineering heritage to become the foremost global digital transformation services provider – leading the industry in digital and physical product development and digital platform engineering services. Through its innovative strategy; integrated advisory, consulting, and design capabilities; and unique 'Engineering DNA,' EPAM's globally deployed hybrid teams help make the future real for clients and communities around the world by powering better enterprise, education and health platforms that connect people, optimize experiences, and improve people's lives. In 2021, EPAM was added to the S&P 500 and included among the list of Forbes Global 2000 companies.Selected by Newsweek as a 2021, 2022 and 2023 Most Loved Workplace, EPAM's global multidisciplinary teams serve customers in more than 50 countries across six continents. As a recognized leader, EPAM is listed among the top 15 companies in Information Technology Services on the Fortune 1000 and ranked four times as the top IT services company on Fortune's 100 Fastest Growing Companies list. EPAM is also listed among Ad Age's top 25 World's Largest Agency Companies for three consecutive years, and Consulting Magazine named EPAM Continuum a top 20 Fastest Growing Firm.Learn more at www.epam.com and follow EPAM on Twitter and LinkedIn.Forward-Looking StatementsThis press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company's most recent Annual Report on Form 10-K and the factors discussed in the Company's Quarterly Reports on Form 10-Q, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.EPAM logo (PRNewsfoto/EPAM Systems, Inc.)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/epam-wins-2023-google-cloud-social-impact-partner-of-the-year-award-in-north-america-301918348.htmlSOURCE EPAM Systems, Inc.

PR Newswire

EPAM Wins 2023 Google Cloud Social Impact Partner of the Year Award in North America

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a9a66a98-6d80-3ba7-aeba-92054c7111a4

EPAM

EPAM Systems Inc (NYSE:EPAM) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at 266.21, EPAM Systems Inc has witnessed a surge of 1.14% over a period, marked against a three-month change of 26.52%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that EPAM Systems Inc is well-positioned for substantial growth in the near future.Warning! GuruFocus has detected 4 Warning Signs with EPAM. Click here to check it out. EPAM 30-Year Financial DataThe intrinsic value of EPAMEPAM Systems Inc (EPAM): A Deep Dive into Financial Metrics and Competitive StrengthsUnderstanding 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.EPAM Systems Inc has been assigned the following ranks:1. Financial strength rank: 9/102. Profitability rank: 10/103. Growth rank: 10/104. GF Value rank: 4/105. Momentum rank: 4/10Each 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 moderate ranks in GF value and momentum, GuruFocus assigned EPAM Systems Inc the GF Score of 92 out of 100, which signals the highest outperformance potential.Introduction to EPAM Systems IncEPAM Systems Inc provides software product development and digital platform engineering services to clients located around the world. The company services include Software Product Development, Custom Application Development, Application Testing, Enterprise Application Platforms, Application Maintenance, and Support and Infrastructure Management. The company focuses on innovative and scalable software solutions. The company uses industry standard and custom developed technology, tools, and platforms to deliver results to handle business challenges. The company primarily offers its solutions in the following industries: financial services, travel and consumer, software and hi-tech, life sciences and healthcare. The majority of revenue is generated from North American clients.Story continuesWith a market cap of $15.43 billion and sales of $4.84 billion, EPAM Systems Inc has an operating margin of 12.72%. This is the income breakdown of EPAM Systems Inc:EPAM Systems Inc (EPAM): A Deep Dive into Financial Metrics and Competitive StrengthsFinancial Strength AnalysisAccording to the Financial Strength rating, EPAM Systems Inc's robust balance sheet exhibits resilience against financial volatility, reflecting prudent management of capital structure. With an Altman Z-Score of 14.24, EPAM Systems Inc exhibits a strong defense against financial distress, highlighting its robust financial stability. With a favorable Debt-to-Revenue ratio of 0.04, EPAM Systems Inc's strategic handling of debt solidifies its financial health.Profitability Rank AnalysisThe Profitability Rank shows EPAM Systems Inc's impressive standing among its peers in generating profit. EPAM Systems Inc's strong Predictability Rank of 4.5 stars out of five underscores its consistent operational performance, providing investors with increased confidence.Growth Rank AnalysisRanked highly in Growth, EPAM Systems Inc demonstrates a strong commitment to expanding its business. The company's 3-Year Revenue Growth Rate is 27%, which outperforms better than 82.47% of 2396 companies in the Software industry. Moreover, EPAM Systems 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 19.8, and the rate over the past five years is 28.3. This trend accentuates the company's continued capability to drive growth.EPAM Systems Inc (EPAM): A Deep Dive into Financial Metrics and Competitive StrengthsConclusionGiven the company's strong financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights the firm's unparalleled position for potential outperformance. 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

EPAM Systems Inc (EPAM): A Deep Dive into Financial Metrics and Competitive Strengths

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EPD

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b2cf7e9e-c1dd-3e09-b019-2aa3eefd412e

EQH

ParticipantsMark Pearson; President, CEO & Director; Equitable Holdings, Inc.Nicholas Burritt Lane; President of Equitable, Senior EVP & Head of Retirement, Wealth Management & Protection Solutions; Equitable Holdings, Inc.Robin Matthew Raju; Senior EVP & CFO; Equitable Holdings, Inc.Thomas LewisWilliam R. Siemers; Senior VP, Controller, CAO & Interim CFO; AllianceBernstein Holding L.P.Elyse Beth Greenspan; Director & Senior Analyst; Wells Fargo Securities, LLC, Research DivisionJamminder Singh Bhullar; Senior Analyst; JPMorgan Chase & Co, Research DivisionMark Douglas Hughes; MD; Truist Securities, Inc., Research DivisionMichael Augustus Ward; Research Analyst; Citigroup Inc., Research DivisionRyan Joel Krueger; MD of Equity Research; Keefe, Bruyette, & Woods, Inc., Research DivisionSuneet Laxman L. Kamath; Equity Analyst; Jefferies LLC, Research DivisionTaylor Alexander Scott; Equity Analyst; Goldman Sachs Group, Inc., Research DivisionThomas George Gallagher; Senior MD; Evercore ISI Institutional Equities, Research DivisionTracy Dolin-Benguigui; Director & Senior Equity Research Analyst; Barclays Bank PLC, Research DivisionPresentationOperatorLadies and gentlemen, thank you for standing by. My name is Bhavesh, and I will be your conference operator today. At this time, I would like to welcome everyone to the Equitable Holdings Second Quarter Earnings Call. (Operator Instructions) Thank you. I will now hand the call over to Tom Lewis, Equitable Holdings Investor Relations. You may begin your conference.Thomas LewisGood morning, and welcome to Equitable Holdings Second Quarter 2023 Earnings Call. Materials for today's call can be found on our website at ir.equitableholdings.com. Before we begin, I would like to note that some of the information we present today is forward-looking and subject to certain SEC rules and regulations regarding disclosure. Our results may materially differ from those expressed in or indicated by such forward-looking statements. So I'd like to refer you to the safe harbor language on Slide 2 of our presentation for additional information. Joining me on today's call is Mark Pearson, President and Chief Executive Officer of Equitable Holdings; Robin Raju, our Chief Financial Officer; Nick Lane, President of Equitable Financial; and Bill Siemers, AllianceBernstein's Interim Chief Financial Officer, Controller and Chief Accounting Officer. During this call, we will be discussing certain financial measures that are not based on generally accepted accounting principles, also known as non-GAAP measures. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures and related definitions may be found on the Investor Relations portion of our website, in our earnings release, slide presentation and financial supplement. I would now like to turn the call over to Mark and Robin for their prepared remarks.Story continuesMark PearsonGood morning, and thank you for joining today's call. On May 10, we held our Investor Day and presented our strategy and go-forward guidance for the next 5 years. Today, we will provide both our quarterly results as well as progress against our strategic initiatives. Highlights from the second quarter on Slide 3. Equitable Holdings is unique. We have integrated advice, retirement and asset management businesses, enabling us to deliver superior client returns and participate in all parts of the value chain. This quarter, non-GAAP operating earnings were $441 million or $1.17 per share. Adjusting for notable items in the period, which included lower alternative returns and elevated mortality, non-GAAP operating earnings per share was $1.27 and which is up 2% compared to prior year quarter and up 5% compared to the first quarter of this year. We've had a record quarter in retirement with record $1.4 billion of net inflows. In Asset Management, we reported net outflows of $4 billion, which includes $6 billion of preannounced low fee redemptions in April, with a return to positive flows in May and June as demand for AB's fixed income offerings offset pressure from active equity outflows. Collectively, our businesses have delivered approximately $900 million of cash generation to holdings year-to-date, including a $600 million dividend from our insurance entity in July. Given this progress, we are confident in our ability to achieve our 2023 cash generation guidance of $1.3 billion. Our capital ratio has remained resilient, with a combined insurance company RBC ratio of approximately 425% to 450% as of quarter end. We also continue to maintain financial flexibility at Holdings with $1.6 billion of available cash. We returned $304 million to shareholders in the quarter, including $226 million in share repurchases and in line with our enhanced 60% to 70% target payout ratio. We have taken meaningful actions over the last 5 years to optimize our capital structure. And now over 50% of cash flows come from noninsurance regulated sources today compared to only 17% at IPO. With the completion of our internal reinsurance transaction this quarter, we further diversify and improve the stability of regulated cash flows moving forward. Robin will provide more details on this in a few minutes. While it is early days, we can report good initial progress against our growth strategy in both our core and adjacent businesses. In our new Wealth Management segment, we continue to see demand for advice with $1.3 billion of net inflows in the quarter. Operating earnings this quarter were up 75% year-over-year and 30% compared to prior quarter, benefiting from higher interest rates on cash sweep accounts. Today, out of our 4,100 Equitable advisers, we have 700 wealth planners who generate 3x more revenue than the average adviser. In private markets, AB continues to grow AUM, now $61 billion, up 13% following the acquisition of CarVal last year. which is behind a 2% year-over-year fee rate improvement at AB. Strategic initiatives are on track, including productivity savings and generating incremental income from our general account. We're very pleased with the reaction to our Investor Day, and we intend to track progress against the guidance provided at least twice a year. Turning to Slide 4. Our growth strategy is built on our competitive edges, which enables us to, one, capture greater margins through premier investment capabilities; two, protect policyholders and ensure cash generation to fair value economic management; and three, leverage a large diversified distribution platform aligned across Equitable advisers, AB Private Wealth and third-party partnerships to drive profitable new business. All of this is underpinned by our track record of execution. We are focused on defending and growing our core businesses, scaling adjacent businesses and seeding future growth, all whilst ensuring we are forced for good in the communities in which we live and work. We have defined success through our new financial goals; to increase cash generation by 50% and to $2 billion by 2027, to deliver on an increased payout ratio of 60% to 70% of non-GAAP operating earnings and to generate a 12% to 15% non-GAAP operating EPS annual growth rate on 2027. On Slide 5, I will highlight some early progress as we execute against our strategy. Our first priority is to defend and grow our core retirement and asset management businesses. These today drive over 90% of free cash flow generated. Our core retirement businesses generated approximately 2/3 of our earnings today. Year-to-date, core retirement AUM is up 5% and with strong new business activity and current market conditions, we generated over $200 million in value of new business through the half year, putting us on track to our forecasted 2023 level of $400 million. As we've seen from this quarter's earnings cycle, this is a more challenging time for asset managers. At AB, AUM is up 7% year-over-year and margins are down 100 basis points compared to the prior year quarter, reflecting lower Bernstein Research Services revenues and lower performance fees, combined with a higher compensation ratio. We expect the close of the Bernstein Research joint venture with SocGen in the first half of 2024. And once deconsolidated, this will improve AB margins by 200 to 250 basis points. Equitable's relocation of its headquarters is on track, helping to secure $30 million of savings from the first of January 2024. The AB move to Nashville is now complete and in Q1 of 2025, we expect to realize the full run rate benefit from the completion of AB's $75 million annual savings initiative. One important synergy we have is the use of the general account to help build a faster-growing, high multiple alternative strategies in AllianceBernstein. To date, we have deployed $7.5 billion of our initial $10 billion capital commitment. And in May, we announced a further $10 billion capital commitment, bringing the total to $20 billion. The second element of our strategy is to scale adjacent businesses. These are smaller businesses where we have the opportunity to grow at a faster rate. Early contributions from the CarVal acquisition have been positive, and private markets now constitute 13% of year-to-date asset management revenues at AB. AB's institutional pipeline of $14 billion as a fee rate that is 3x the channel average with private alternatives representing over 80% of the pipeline fee base. In Wealth Management, 7% annualized organic growth in the quarter and strong markets supported a 6% increase in AUA compared to Q1, now totaling $80 billion. This business provides good operating leverage given our technology platform is outsourced, and our long-term focus is to grow fee-based advisory assets. Please turn to Slide 6. In order to ensure long-term success, it's important we continue to invest through the cycle and see businesses that we believe will provide significant opportunities for the future. In Asset Management, we see opportunities to build on AB's global footprint, leveraging their strong brand recognition in Asia, and we are in the final phase of licensing agreements, which would enable us to serve China's large and growing domestic market. AB is also uniquely positioned to leverage over 40 years of expertise, managing insurance assets, benefiting from the relationship with Equitable to grow third-party insurance AUM. Today, AB manages approximately $60 billion of third-party insurance AUM in addition to the $115 billion managed for Equitable. We are also optimistic about the long-term prospects for both AB and Equitable, incorporating in-plan guarantees into corporate retirement plans. AB is a leader in this space, pioneering this category over a decade ago and Equitable benefited from over $750 million of premium last year. In addition to our partnership with AB, Equitable stands to benefit from progress being made by our partner, BlackRock, with 11 large plans for onsource to date and onboarding underway. We also believe delivering business performance and contributing to society are inextricably linked and that we bring value to each of our stakeholders through outstanding business performance and focusing on our mission to help our clients secure their financial well-being so they can live long and fulfilling lives. We released our second sustainability report earlier this year, which included meaningful disclosures demonstrating our progress. And this resulted in improved ratings by firms like Sustainalytics, who have recently rated Equitable in the top quartile within our industry. Turning to Slide 7. A product of our strategy since our IPO is to further diversify both earnings and cash flows, orienting our business towards lower capital, higher value segments. Since our IPO, we have meaningfully shifted our business mix with nearly 30% of earnings associated with our legacy business to only 8% today, and we expect its contribution to be less than 5% of total earnings after 2027. I will now turn over to Robin to provide additional insights into the quarter. Robin?Robin Matthew RajuThank you, Mark. Turning to Slide 8, I will touch on segment and consolidated results for the quarter. As Mark just highlighted, we continue to execute our capital-light strategy which you can see in our improved cash flow and business mix profile. Our second quarter non-GAAP operating earnings adjusted for notable of $480 million show our wealth management business having a similar weight to our legacy business, highlighting the different trajectories of those businesses, while our capital light retirement and asset management businesses continue to grow. Let me go deeper on the segment results first before turning to consolidated results. Our core retirement businesses account for 2/3 of the earnings mix. This is led by strong earnings growth in Individual Retirement, up 10% year-over-year, which is predominantly driven by the outperformance in our flagship SCS product. SCS has continued to benefit from higher yields and industry-leading sales, enabling us to generate higher spread income. In total, Individual Retirement had record sales of $3.6 billion and record net flows of $1.5 billion in the quarter. Group Retirement earnings were down year-over-year, which was expected due to our reinsurance transaction that closed at the beginning of the fourth quarter. Taking this into account, the business performed nicely, led by net inflows in our K-12 tax-exempt teachers market. Protection earnings were $24 million higher than the first quarter but still lower than the long-term expectations as we continue to see mortality volatility, which I will touch on in a few moments. Adjusting for notables, Protection Solutions earned $77 million in the quarter. Across our 3 retirement businesses, we have generated over $200 million of value of new business through the first half of the year, putting us on track for the $400 million for the full year guidance that we provided at Investor Day. Moving to our asset management business. AllianceBernstein generated 15% of the earnings mix this quarter. continuing its shift to higher fee strategies in private markets, which is now $61 billion of AUM. Additionally, the institutional pipeline is now $14 billion, which is up 10% sequentially even after some funding took place in the first quarter. We are also executing on our strategy of growing in Asia and [Munis]. Munis had $1 billion of net inflows in the last quarter. Our emerging wealth management business generated 7% of the mix this quarter, benefiting from higher rates in our cash sweep accounts. Improving earnings by $11 million year-over-year and strong insurance sales, adding $12 million of distribution fee revenue year-over-year. This again reflects the differentiation of Equitable advisers distribution and declined demand for our holistic adviser offering, which includes both investment and insurance as asset classes. Lastly, our runoff legacy business now represents just 8% of earnings this quarter. Second quarter net outflows were $569 million, in line with expectations. Over the coming years, this business will release capital and contribute cash flow generation as this block runs off. Now looking at our results on a consolidated basis. We reported non-GAAP operating earnings of $441 million in the quarter or $1.17 per share, which is up 22% compared to the first quarter but down 5% year-over-year. After adjusting for $39 million of total after-tax notable items, non-GAAP operating earnings were $480 million or $1.27 per share, up 2% on a comparable year-over-year per share basis and 5% compared to the first quarter. Results were impacted by net investment income notable items of $38 million. This was driven predominantly by alternative returns that were positive in the quarter, but below our long-term expectations. Our portfolio experienced gains in traditional private and growth equity strategies, which were offset by declines in our real estate equity investments. Now let me speak more to the heightened mortality we saw in the quarter, which resulted in a notable item of $53 million. This continues the trend of higher volatility from the continued shift in COVID as the transition from pandemic to endemic. Specifically, we are seeing higher mortality in the older age insured population, which we believe is a pull forward of future claims. This is consistent with what we're hearing from our reinsurance. In a typical environment, we would expect 1 standard deviation and mortality results, which would mean we would have a range of $50 million to $100 million in earnings with $75 million being the center point. Given this pull forward in claims, we would expect to be on the lower end of the range over the next few quarters, which means we would point to a $50 million to $75 million of earnings as a near-term guidance for the segment. However, as a result of the pull forward of increasing near-term claims, we expect to exceed $75 million over time as claims are reduced in later years. It is important to note that this will only change our short-term GAAP expectation for the next few quarters, not our statutory or economic balance sheet as they are more conservatively positioned. This means there will be limited impact on our cash generation guidance. And if this trend continues, Protection Solutions will have higher free cash flow conversion rate. And now moving to GAAP results. we reported $759 million of positive net income in the quarter. This demonstrates our ability to generate positive net income under LDTI, which brings accounting closer to fair value for our industry. As a reminder, this will enable us to remain eligible for inclusion in S&P Indices as we now meet all criteria. While inclusion isn't something we can control, it does provide significant opportunity for our shareholders. Finally, let me turn to what we can control, and that's the execution of our strategy. We continue to progress against $110 million yield enhancement program and are on track to achieve $45 million in incremental income by year-end. Equitable's retirement business continues to benefit from higher risk-adjusted yields due to strong fixed income underwriting capabilities from AllianceBernstein. Additionally, productivity savings at Equitable are on track for $30 million in annual days by year-end, position us well for our $150 million expense target. Turning to Slide 9. Our capital management program has enabled us to consistently return capital despite market volatility. In the quarter, we returned $304 million, which includes $226 million of repurchases, resulting in a $9 million share count reduction. Over the last 12 months, we have reduced our shares outstanding by 7%, demonstrating the value of our capital return program. At Investor Day, we increased our payout ratio to 60% to 70% of non-GAAP operating earnings. The increase was driven by the mix shift that we discussed today towards our capital-light retirement, wealth and asset management businesses. In addition to the capital optimization actions we have taken to date, which I will discuss further in a moment. An output of these actions is more efficient cash generation and we are confident in our ability to achieve our 2023 guidance of $1.3 billion. In July, we took a $600 million dividend out of the insurance company. The remainder of the cash flow this year will come from unregulated sources with nearly $300 million already collected to date. In total, we have seen $900 million of cash flow upstream to the holding company. These cash flows support strong liquidity, with $1.6 billion of cash at the holding company as of quarter end or $2.2 billion found in the July dividend. Additionally, our half year combined RBC ratio was approximately 425% to 450%, reflecting our strong insurance company balance sheet. As part of our strategy to optimize our capital position, we completed our internal reinsurance transaction in April, which enables us to have 2 well-capitalized insurance entities with RBC ratios above target. Lastly, our first dollar hedging program maintained strong effectiveness throughout the quarter despite market gains being driven by a select few stops. The success of our program can be attributed to our efficient product design, with over 75% of underlying assets in passive indices that are highly hedgeable and over 80% of assets incorporating volatility management tools. In summary, our capital position and balance sheet enables us to create shareholder value through our capital return program. While positioning us for future growth and cash flows. Turning to Slide 10. I'll dive deeper in our internal reinsurance transaction. Which is another milestone on our path of capital optimization to drive more efficient cash flow to the holding company. Since IPO, we have taken several actions to increase the consistency of dividends to the holding company while also increasing our unregulated cash flows to be greater than 50% of the total upstream to the HoldCo. These actions include: first, moving AB units out of the insurance company, bringing AB dividends directly to the holding company. Second, our landmark legacy VA transaction with Venerable which derisks the company and accelerated our legacy cash flows through a positive ceding commission. Third, the creation of the investment contract with the retirement company bringing the asset management fees straight to the holding company. Fourth, transactions with both Swiss Re and Global Atlantic to secure long-term cash flows at a low funding cost. Fifth, our recent acquisition of CarVal investors, a leading private credit firm, which was funded efficiently with AB units. And finally, the internal reinsurance transaction moved the majority of our imports out of our New York entity and into our Arizona entity. This means that our insurance dividends will be more RBC-based and come from 2 different entities, therefore, diversifying our retirement cash flows. Coupled with more than 50% of our HoldCo dividends from unregulated sources like asset and wealth management-type activities our cash flows to the holding company will be much more consistent moving forward than they were at IPO. These actions we have taken allow us to progress towards novating our non-New York policies which is expected to take place over the next 2 years. This means that once we move these policies from New York to Arizona, it will give us further flexibility for capital optimization. Lastly, 100% of our non-New York business will be written out of our Arizona entity. While New York is one of the most sophisticated regulators, it does have some noneconomic elements that we would like to avoid by shifting our new business. Ultimately, these actions enable us to enhance our legal entity structure into one that reflects a diversified financial services holding company. We have cash flows from multiple capital-light businesses, enabling a consistent capital return program for our shareholders. I'll now turn the call back to Mark for closing remarks. Mark?Mark PearsonThanks, Robin. In closing, our integrated advice, retirement and asset management businesses delivered strong results this quarter, including record net inflows in retirement and $900 million of cash generation to date, giving us confidence in our ability to deliver on our $1.3 billion 2023 guidance. Second, our balance sheet and capital ratios remain resilient, a testament to our fair value management. As of quarter end, our combined insurance company RBC ratio of approximately 425% to 450% and holding company cash of $1.6 billion support financial flexibility as we seek to consistently deliver on our capital management objectives. Lastly, while it is still early days, our distinct business model and growth strategy reinforce compelling and achievable 2027 financial targets as we seek to grow cash generation to $2 billion consistently deliver on our 60% to 70% payout ratio and drive 12% to 15% EPS growth. With that, we'll open the line for questions.Question and Answer SessionOperator(Operator Instructions) Our first question comes from the line of Elyse Greenspan from Wells Fargo.Elyse Beth GreenspanMy first question, you guys will have $2.2 billion, right, of capital at parent, right, following the July dividend. That's obviously a very high amount above, right, the $500 million minimum that you guys target. So could we see capital return pick up from here? Just how are you thinking about just what level you want to have at parent given just volatile markets, et cetera, and also relative to just perhaps pick up in the level of capital return in the back half of the year?Robin Matthew RajuThanks for the question, Elyse. You're right, the $2.2 billion of cash flow is a strong position to be at as we sit here today in these volatile markets where we still have uncertainty ahead of us. But it is important to note, it's the benefit of these capital-light businesses that continue to kick up cash flows to the holding company, and more than 50% of that is unregulated at this time. As you know, we want to be consistent with capital return throughout the period and keep our 60% to 70% payout guidance. If you look in the quarter, on a reported basis, we paid out on the higher end of that guidance. And even on a normalized payout basis, we paid within that guidance of 60% to 70%. So expect us to be consistent. We think it's a good time to buy back our stock at these type of valuations, but we're going to be prudent as well given the uncertainty in the environment right now.Elyse Beth GreenspanAnd then with mortality, Robin, you gave a lot of good color with what's going on within Protection Solutions, right? And you said, right, that mortality could still be elevated in the near term. So is your expectation that the level of mortality at least over the next few quarters will be within range of the around $50 million or so that you guys saw this quarter?Robin Matthew RajuYes. That is the expectation that we built in on the GAAP results. As I said on the call, we've seen the elevated mortality over the last few quarters, and this is really a shift from COVID pandemic-endemic and it aligns well with what we're hearing from the reinsurers. It did improve this quarter, but we're still seeing higher mortality in that older age insured population, which is concentrated into higher face value VUL policies. These are policies that we had on the book for 15 to 25 years. So these are good policies, which we collected a lot of fees from historically. But what we're seeing is predominantly a pull forward into claims which represents an acceleration of the claims that we would ordinarily pay in future years. So this is only a change in what I would say is our short-term GAAP expectation, not anything to do with our statutory economic balance sheet. As we already hold the maximum reserves under GAAP, but under economic and statutory, we can hold higher reserves for provisional adverse deviations, which we do. And that more accurately reflects the pull forward of claims that we're experiencing. Therefore, if this does continue and we see the short-term volatility, you're going to see a higher free cash flow conversion rate if this pull forward continues for mortality.OperatorOur next question comes from the line of Tom Gallagher from Evercore.Thomas George GallagherJust a follow-up on the mortality question. Robin, I heard what you said. So it sounds like this will not be a statutory issue from your perspective either way. But as we approach the 3Q actuarial review, is there a chance you end up resetting some of these assumptions for the GAAP reserves and we get a charge in 3Q? I also heard what you said about the pull forward and the expectation that it will get better over time. But I guess given the near-term persistent adverse mortality, is there -- should we have some expectation there could be a charge here on a GAAP basis?Robin Matthew RajuNo charge expectation on a GAAP basis, Tom. Nothing material that you should expect going forward. Reminder, as I just mentioned, we hold the maximum amount of reserves that you can under GAAP rules for these VUL policies. So even if we wanted to hold more, we can't because by the GAAP rules, we hold the maximum amount. So this is just a pull forward of expectation. You shouldn't expect any changes, material changes to the assumptions for mortality in the third quarter.Thomas George GallagherGot you. And Robin, just to clarify, this is predominantly VUL, this is not SGUL where you're seeing the higher the worst-than-expected experience?Robin Matthew RajuCorrect. That's the majority of our in-force. SGUL, as you know, is small for us. We stopped selling that in 2009 due to the economics of those products. So it's predominantly the these are all policies that were in for 15 to 25 years. So they're just at the tail end of them.Thomas George GallagherOkay. And one final one on this topic, if I could. How much of your mortality block has the smooth accounting under LDTI from an actual to expected perspective versus how much where the immediate experience gets booked into current period earnings? Do you have a rough split on that?Robin Matthew RajuNo. Again, most of our -- the LDTI really impacts the term in force. That's where you'll have that smoothing. That's a smaller part of our business as those are not capital efficient as we see them. The VUL policies, which are good policies, 10% to 15% IRRs, those are the policies where you see this volatility come through. And it's really just a pull forward based on what we see and based on what we hear from our reinsurers.OperatorOur next question comes from the line of Ryan Krueger from KBW.Ryan Joel KruegerI have a wealth management question. If you guided to $200 million of annual earnings in 2027, I think your -- the quarter annualized run rate is close to $165 million to $170 million. So it seems like you're barely ahead of pace to get to the $200 million. So just curious if you view anything as unsustainable in the current results? Or if you think you are, in fact, running ahead of pace there?Nicholas Burritt LaneYes. This is Nick. As you mentioned, we did have strong performance with positive net flows of $1.3 billion in strong retirement sales. The earnings growth is attributed to interest income on our client suites from a growing fee-based advisory accounts and higher distribution fees. Like most wealth management peers, we benefited from rising interest rates going forward. We've provided guidance historically for every 100 basis point increase in the FFR. We would expect to capture 1.5% on revenue either increase or decrease relative to a change on that. We think we're well positioned and on track to hit our goals to meet demand for advice, given the edge we bring to the market with our track record of developing wealth planners, our differentiated advice model and the operating scale we get from our investment partnership with LTL and the scale in our retirement businesses.Ryan Joel KruegerGot it. And then on SCS sales, was there anything in particular that drove the pretty big uptick in volumes this quarter? Did you introduce new products or anything like that?Nicholas Burritt LaneAs we mentioned in Investor Day, we think there's both structural demand baby boom generation moves to that accumulation for protected equity stories, amplified by the volatile times we're seeing in the macro political environment, and we're well positioned to continue to capture a disproportionate share given our distribution network as well as our constant innovation. So we continue to update our segments as we see emerging demand. But I think it's more structural given the edge that we've built over the last decade in the space.Robin Matthew RajuAnd this rate environment makes those products very competitive to fixed oriented products that are out there. So we benefit from better rates that we can offer to clients and then we're capturing the yield on the back end for shareholders. So it's a win-win on both sides.Mark PearsonI think as well, Ryan, it's Mark here. When I look at it, I think the momentum has been a few quarters for us now. But also, we see growth across all of our distribution channels from our retail side through to the institutional side. So it's not lumpy with one distribution. It's really across the board, which is encouraging for us going forward.OperatorOur next question comes from the line of Jimmy Bhullar from JPMorgan.Jamminder Singh BhullarSo the first question is just on the mortality issue. Your results have obviously been weak recently. A lot of your peers have been weak as well. What gives you the confidence that it's not more of a structural issue in terms of pricing or risk selection in your block and it's just more related to what you've mentioned in terms of pull forward in claims?Robin Matthew RajuSure, Jimmy. I think there are multiple things you have to do when you see volatility in mortality. One is a further diagnostic of your in-force block testing your thesis and stressing them. Second is validation through the reinsurers. Those are all things that we do. The most important thing is this is just GAAP volatility no impact on cash. If we continue to see this volatility because of our conservative statutory assumptions, we're just going to have a higher payout ratio at the end of the day. So no impact on cash. There will be some GAAP volatility if this continues. We hope we'll see both sides of the volatility. Volatility works both ways. So we're looking forward to seeing both sides. But again, no impact on cash.Jamminder Singh BhullarOkay. And then on AB, obviously, industry-wide flows have been fairly weak for asset managers, and you're seeing some of that same dynamic as well. Any comments you have on the pipeline or how the -- any visibility you have on how flows are looking into the second half? Or is it just going to be more dependent on however, the overall environment is?Mark PearsonGo Bill.William R. SiemersThanks, Mark. Okay. No, we're pretty confident in our flows outlook for the second half of the year. As Mark mentioned, we have the $14-plus billion in the pipeline. A big part of that, 2/3 of that is in alts private alts with over 80% of it being fee-based. And we have strong inflows in the second quarter. We're hoping that follows through. In the retail segment, we've had several growing areas despite slightly net outflows. In the second half, [Nuveen] SMAs, as was mentioned before is $1 billion of net flows with a strong annual growth rate. So we're hoping that continues. Positive, it's been positive 11 of the last 12 quarters and 10 years in a row of organic growth. American Income, net inflows of $1.5 billion in the second quarter, $4 billion year-to-date that we're looking for that to continue. And in U.S. retail, we have 9% annual organic growth with net inflows 11 of the last 13 quarters. So we're looking for that to continue its momentum. And then in private wealth, with the increase in private alts and then investments in money markets and that their organic growth rate is looking pretty good, too. So we're pretty confident in the second half of the year.OperatorOur next question comes from the line of Suneet Kamath from Jefferies.Suneet Laxman L. KamathJust to circle back again on the mortality. Robin, is there a way to just to mention how big this block is of older aged VUL policies? And then any more specificity over how long or what period of time you'd expect this to play out?Robin Matthew RajuYes. Look, the way I would just sum it up, these are older age policies, some of them 15 to 25 years that we expect. Unfortunately, we expect that will pass over the next 5 years, and that's built into our $2.5 billion of earnings guidance that we gave at Investor Day and our $2 billion of cash guidance that we gave at Investor Day. So what we're seeing is just an acceleration of some of those debts, which means that's a pull forward of earnings going forward. We haven't disclosed specific size of the blocks, Suneet. But I think the way to think about it, this is an acceleration or pull forward of what we've already included in our earnings guidance and cash flow guidance. And it's really only -- again, it's only a GAAP volatility point as the statutory book and more prudently reserved.Suneet Laxman L. KamathGot it. And then when we think about the free cash flow conversion improving as a result of this sort of phenomenon, is that because the GAAP -- the denominator is going down and the GAAP earnings are lower? Or is there some acceleration of cash generation related to this?Robin Matthew RajuIt's really just because the GAAP earnings are lower, and there's no change to the statutory earnings as a result. So that's really what it is. And you saw that in the quarter. In the quarter, our payout ratio on a normalized basis was in the 60% to 70%. But if I take the reported number, it's close to 70%. So we paid out on the higher end reflecting the fact that it's really just a GAAP volatility, not a cash point.OperatorOur next question comes from the line of Alex Scott from Goldman Sachs.Taylor Alexander ScottFirst question I had is on the strong sales growth that you saw particularly in individual retirement. And I'd just be interested if you could provide any color around the amount of capital consumed? Or said another way, the amount of capital you deployed towards that? Because it seems like you're hitting on your cash flow objectives, the other piece though is it seems like you're deploying more than you have been in the new business. So I'd be interested in if you quantify that for us? And also any comments on just the competitive environment and the opportunity you're seeing there?Robin Matthew RajuThanks, Alex. The businesses that we write are very capital efficient, capital-light structures. That leading SCS product is a 15% IRR on the capital uses. If you recall, and I think we shared it over the years, the change in amount of capital that we have to hold per dollar of premium these products that we write, whether it's in our individual retirement and our group retirement, they're less than $0.02 that we hold for every dollar of premium. So they're very capital efficient. If you compare that to fixed products that are probably $0.10 to $0.12 per dollar premium. So we're playing in the right place. We're generating good returns, and we'll continue to support the growth because it's generating future cash flows for shareholders.Taylor Alexander ScottGot it. A follow-up I had is on dividend capacity out of the New York Unity. I guess following the $600 million dividend, could you frame for us how much ordinary dividend capacity is still there? And if you're able to comment at all on how much of that will be needed for the novation on New York?Robin Matthew RajuSure. So we upstreamed a total of $900 million to the HoldCo through July, which includes $300 million of unregulated, the $600 million insurance dividend. That aligns with our free cash flow guidance of $1.3 billion. We assumed that we'd have $600 million in place. We took that out in July. So that's probably close to the maximum that we could take out to keep our RBC levels above the ratings -- for the ratings that we need and at 375% to 400%. So that's what you should expect on year-end. We also completed, as I mentioned in the quarter, the internal reinsurance transaction where we moved capital from the New York entity to the Arizona entity to help support that across the board. So you shouldn't expect any other ordinary dividend capacity from the retirement business from now to year-end. What you should expect is more unregulated cash flows though, from now to year-end. We're going to continue to see cash flows from AllianceBernstein, the retirement business through the asset management contract and then our wealth management business dividend, which comes up close to year-end. So that's another, in total, $400 million of unregulated cash flows that we'll see from now to year-end.OperatorOur next question comes from the line of Tracy Benguigui from Barclays.Tracy Dolin-BenguiguiRobin, I believe after the fourth quarter earnings call, you reiterated that your operating earnings sensitivity of every 10% movement in equity markets, so about $150 million in earnings. And in 2022, the equity markets were down 20%, and that was a $300 million impact our original cash flow expectation of $1.6 billion became $1.3 billion for 3 However, we're seeing a recovery in equity markets. So is that $1.3 billion of moving target? Could we see upside based on equity market recovery, I think it's up 18% year-to-date?Robin Matthew RajuYes, Tracy. That is our sensitivity of every 10%. It's about $150 million. And as you saw, we went from $1.6 billion to $1.3 billion this year, reflecting the lower equity markets from last year. And if equity markets continue at these levels, you should expect higher free cash flow next year in line with the guidance that we provided.Tracy Dolin-BenguiguiOkay. And congrats on wrapping up your internal reinsurance transaction. I feel like that cash flow at split 50-50 between regulated and unregulated sources is not a new thing. So just to be sure you're expecting a more meaningful shift in that composition following your novation in 2 years.Robin Matthew RajuWell, the 50% of unregulated cash flow where it sits now is 17% of IPOs, so that aligns well with the strategy of unregulated cash flow. And then within the 50% that was coming from the retirement business, you should expect that to be split between the Arizona and the New York entity as we move -- as we shifted liabilities from the New York company to the Arizona company. That's really important because it means that we have more diversified regulated cash flows and more stable cash flows. As you know, the New York formula has been historically volatile, but the Arizona dividend formula will be more RBC-based. So it provides more consistency and more transparency for shareholders on the cash flows from the regulated entities.Tracy Dolin-BenguiguiOkay. And real quick on VUL, you mentioned large claims. What is the average face amount of these claims, just so I can understand the severity aspect?Robin Matthew RajuWhen we look at large claims on VUL, we're looking $2 million-plus face amounts.OperatorOur next question comes from the line of Mark Hughes from Truist Securities.Mark Douglas HughesYou talked about the China initiative. Just sort of curious, I think you've gotten some early approvals. When do you think that will get ramped up? And any early thoughts around the asset goals?William R. SiemersMark, this is Bill Siemers again. We've received our approval of our application in China. That was a few months ago. Currently, we're waiting on to get our license. But first, that is subject to an inspection, which we've been geared up for but hasn't occurred yet. We are hoping to get this done and have a fund -- release our first fund by the end of this year, but it's subject to the timing of this license, which -- where it might slip into next year.Mark Douglas HughesAppreciate that. And then in the Wealth Management, I think you've touched on this maybe given us some of the pieces. But if you look at the year-over-year growth, obviously quite strong. If you took out the improvement in the cash sweep accounts, any sense of what the earnings growth was aside from this interest rate impact?Robin Matthew RajuYes. I think we had, Mark, $42 million of wealth management earnings in the quarter. I think I said year-over-year, $11 million of that is coming from the interest rate sweep accounts. So even taking out the interest rate sweep account, you're still seeing really strong growth. I think it was about $12 million or so coming from the distribution revenue, and that's really from our insurance sales, the revenue that the wealth management business gets from that. And again, that's -- to Nick's point earlier, that really differentiates and what they do to not only selling investment products they're selling insurance as an asset class, so they have different sources of revenue that they can collect that drive future growth.OperatorOur final question for today comes from the line of Michael Ward from Citi.Michael Augustus WardJust a technical question. I was wondering about the Venerable general account assets where AB is the preferred manager. Just wondering, are there any terms in that agreement that could allow Venerable to recapture that AUM from AB?Robin Matthew RajuNo. As part of the Venerable deal, we did enter into an IMA for AllianceBernstein. That's a long-term IMA contract. I think AB performed well in that. I think Venerable would say so as well. I can say that as well being on their board, that they're happy with the performance of AllianceBernstein. So we expect AB to continue to perform well and we're really looking forward to the $14 billion of institutional flows get funded, and that's going to improve the fee rate overall for AllianceBernstein going forward.Michael Augustus WardOkay. And then just with some of the internal reinsurance changes, I was wondering if anything has changed sort of how you think about or consider inbound potential derisking opportunities, whether it's annuities or life. And if not, it's just the activity from third parties out there keeps picking up. So just wondering if any changes on that front.Robin Matthew RajuYes. Look, the big deal for us across the board with that Venerable deal that we just spoke about. That was the big derisking trade for us. But we're always going to look at ways to optimize capital. If we can deploy capital to wealth management or individual all at AB by derisking, we'll always look at them, but there's nothing on the table right now. for us. We're really focused on executing against the strategy that Mark laid out earlier in the call, and we're focused on that execution at this point.Mark PearsonAnd I think fair to say, Robin, on capital management, the focus has been on the internal reinsurance, which is a massive job. The teams delivered extremely well on securing cash flows and just making the cash generation more robust going forward. That's really been the big shareholder value capital management issue in the last couple of quarters.OperatorThank you, ladies and gentlemen. As we have no further questions at this time, we will conclude today's conference call. Thank you for participating. You may now disconnect.

Thomson Reuters StreetEvents

Q2 2023 Equitable Holdings Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-equitable-holdings-inc-034839437.html

ebaf1d05-eee8-305d-8205-0651f2728696

EQH

NEW YORK, August 30, 2023--(BUSINESS WIRE)--Equitable Holdings, Inc. (NYSE: EQH) announced today that Robin M. Raju, Chief Financial Officer of Equitable Holdings, will participate in a fireside chat at the 2023 KBW Insurance Conference on Wednesday, September 6, 2023 at 1:20 p.m. ET.A live audio webcast will be accessible on the Equitable Holdings Investor Relations website at ir.equitableholdings.com. Please log on to the webcast at least 15 minutes prior to the event to download and install any necessary software. A replay will be made available on the Investor Relations website shortly following the conclusion of the live webcast.About Equitable HoldingsEquitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,300 employees and financial professionals, $887 billion in assets under management and administration (as of 6/30/2023) and more than 5 million client relationships globally.View source version on businesswire.com: https://www.businesswire.com/news/home/20230830639704/en/ContactsInvestor Relations Thomas Lewis(212) [email protected] Relations Sophia Kim(212) [email protected]

Business Wire

Equitable Holdings to Participate in the 2023 KBW Insurance Conference

https://finance.yahoo.com/news/equitable-holdings-participate-2023-kbw-201500964.html

f1c83216-ec8c-3208-9cea-7dd771d68e56

EQIX

REDWOOD CITY, Calif., Sept. 8, 2023 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today announced that Justin Dustzadeh, Chief Technology Officer, will present at the Bank of America Virtual Global AI Conference 2023 on Monday, September 11, at 2:00 p.m. EDT.The presentation will be made available via webcast on the Investor Relations section of the Equinix website at www.equinix.com/investors.About EquinixEquinix (Nasdaq: EQIX) is the world's digital infrastructure company®. Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.Equinix. (PRNewsFoto/Equinix) (PRNewsfoto/Equinix, Inc.) CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/media-alert-equinix-to-speak-at-upcoming-investor-conference-301921589.htmlSOURCE Equinix, Inc.

PR Newswire

MEDIA ALERT: Equinix to Speak at Upcoming Investor Conference

https://finance.yahoo.com/news/media-alert-equinix-speak-upcoming-120100832.html

a56c8cb7-a772-3dbe-9ff7-d7dec47b9e72

EQIX

On September 6, 2023, Scott Crenshaw, the Executive Vice President and General Manager of Digital Services at Equinix Inc (NASDAQ:EQIX), sold 1,085 shares of the company. This move is part of a trend observed over the past year, where the insider has sold a total of 3,993 shares and made no purchases.Warning! GuruFocus has detected 10 Warning Signs with EQIX. Click here to check it out. EQIX 30-Year Financial DataThe intrinsic value of EQIXInsider Sell: EVP, GM Digital Services Scott Crenshaw Sells 1,085 Shares of Equinix IncEquinix Inc is a leading global interconnection platform. The company specializes in internet connection and related services, providing a variety of networking capabilities to businesses around the world. Equinix operates through a network of data centers across the globe, offering businesses a robust and reliable platform for the exchange of critical business data.The insider's recent sell-off could be interpreted in various ways. One possible interpretation is that the insider believes that the company's stock is currently overvalued, prompting them to sell their shares. However, it's also possible that the insider's decision was driven by personal financial needs or other factors unrelated to the company's intrinsic value.The insider transaction history for Equinix Inc shows a total of 52 insider sells over the past year, with no insider buys. This could potentially indicate a bearish sentiment among the company's insiders. However, it's important to note that insider selling does not necessarily imply a negative outlook for the company. Insiders may sell their shares for a variety of reasons, including personal financial planning or diversification purposes.Insider Sell: EVP, GM Digital Services Scott Crenshaw Sells 1,085 Shares of Equinix IncAs of the day of the insider's recent sell, shares of Equinix Inc were trading at $765.51, giving the company a market cap of $72.18 billion. The stock's price-earnings ratio stands at 88.98, which is higher than the industry median of 17.39 but lower than the company's historical median price-earnings ratio.Story continuesBased on the GuruFocus Value of $762.14, Equinix Inc has a price-to-GF-Value ratio of 1, indicating that the stock is fairly valued. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of business performance from Morningstar analysts.In conclusion, while the insider's recent sell-off could potentially indicate a bearish sentiment, it's important to consider the broader context. The stock's current valuation, as well as the company's strong position in the global interconnection platform market, suggest that Equinix Inc remains a solid investment opportunity.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: EVP, GM Digital Services Scott Crenshaw Sells 1,085 Shares of Equinix Inc

https://finance.yahoo.com/news/insider-sell-evp-gm-digital-010736567.html

86076d0b-9062-3f47-b9cf-eae6b2609d79

EQR

Equity Residential ('EQR')'s stock has ticked up by nearly 10% since the turn of the year, defying the odds as most believed the U.S. residential market would shed significant value in 2023 due to the disinflationary environment.The Sam Zell-founded real estate investment trust ("REIT") is known to invest in mid-to-higher-end residential real estate within the United States, which has yielded significant returns to its shareholders over the years.Warning! GuruFocus has detected 7 Warning Signs with EQR. Click here to check it out. EQR 30-Year Financial DataThe intrinsic value of EQREquity Residential Seems OvercookedHowever, the question looms: Is Equity Residential ('EQR') still undervalued after its latest surge?Understanding Equity Residential's Business ModelEquity Residential ('EQR') is an umbrella REIT, meaning its business model allows property owners to sell their units for a share in the REIT, providing owners with significant tax advantages.Furthermore, the REIT is vertically integrated, allowing it to streamline its income statement by acquiring, developing, and managing prime real estate.According to its latest publicly released data, Equity Residential ('EQR') owns 304 properties spanning over 80,000 units. Most of its assets are in high-productivity areas such as Chicago, New York, Washington, D.C., Seattle, San Francisco, and Southern Carolina.Focus on Internal Rate of ReturnA noteworthy feature of the real estate investment trust is its focus on the internal rate of return instead of the capitalization rate. The prior refers to the annualized cash-on-cash return generated during an assets holding period, whereas the latter points to an asset's going-in annualized rental yield relative to the acquisition price.Many REITs get dragged into lucrative capitalization rates without considering the total returns. However, as shown by Equity Residential ('EQR')'s latest $135.3 million disposition in Los Angeles, which yielded an internal rate of return worth 8.7%, the fund emphasizes both value additivity and rental income.Story continuesEquity Residential's Capital StructureLastly, a salient feature of Equity Residential ('EQR') is its welcoming capital structure, which consists of 77.7% equity in the form of preferred and ordinary shares.Sure, the REIT has debt on its books. However, approximately 93% of the burden is fixed, contributing to a weighted average cost of 3.6% with an average maturity of 7.8 years.At face value, it can be said that Equity Residential ('EQR') can acquire throughout the interest rate cycle with relative ease as the REIT's capital structure conveys that little shortfall risk is present.Recent Acquisitions and DispositionsLet's delve into a few of Equity Residential ('EQR')'s latest acquisitions and dispositions.Equity Residential ('EQR') acquired two properties during its second quarter, with the first being a $78.6 fully-leased residential building in Atlanta, which has a going-in capitalization rate of 6.6%. Additionally, Equity Residential ('EQR') acquired a $108 million, 287-unit property in Denver at a going-in capitalization rate of 5%.Furthermore, and as alluded to earlier in the text, the fund recently disposed of $135.3 million worth of assets in Los Angeles. The assets generated an internal rate of return worth 8.7% and a going-out capitalization rate of 5.3%. More importantly, at 25 years of age, the assets were at risk of obsolescence, meaning the sale frees up capital for investments in higher productivity properties.Interim Results and Future GuidanceEquity Residential ('EQR') affirmed its third-quarter and full-year guidance on Wednesday, September 6th.According to the firm's management, rents will scale by approximately 5.5% to 6.25% by the firm's financial year-end, which aligns with the narrative shared in the fund's July earnings release.Furthermore, the company's August update showed that same-store rents ticked up by 3.5% in the first two months of the firm's third quarter, while occupancy rose to 96% from the 95.9% recorded in Equity Residential ('EQR')'s second quarter.Valuation and Dividend ProfileAlthough Equity Residential ('EQR') possesses robust fundamentals, its stock seems overvalued, and its dividend profile is relatively underwhelming.Firstly, the fund has a $3.77 to $3.83 funds from operations guidance for 2023. If an absolute valuation is utilized, whereby the sector average price-to-funds from operations of 12.23 is multiplied by Equity Residential ('EQR')'s midpoint FFO guidance, the resulting figure would show that the REIT is overvalued by approximately 37%.Furthermore, a relative valuation communicates that Equity Residential ('EQR')'s price-to-funds from operations ratio of 17.53 is within the 30th industry percentile, indicating further worry signs.Another worrying sign for Equity Residential ('EQR')'s common shareholders is the dividend yield. The REIT's forward dividend yield of 4.12% is less than half of the 8.29% its preferred shareholders earn. Moreover, Equity Residential ('EQR')'s dividend yield sits within the 19th industry percentile, suggesting better income-based real estate investment opportunities exist.ConclusionAlthough Equity Residential ('EQR')'s robust portfolio provides much reason for optimism, key metrics suggest its stock might be overvalued on an absolute basis. Moreover, at a dividend yield of less than half its preferred shares' distribution, it is worth questioning whether the vehicle is set to provide best-in-class returns to its common stockholders.This article first appeared on GuruFocus.

GuruFocus.com

Equity Residential Seems Overcooked

https://finance.yahoo.com/news/equity-residential-seems-overcooked-194921494.html

ccba3612-9b03-337a-8734-bd492007c86a

EQR

CHICAGO, September 08, 2023--(BUSINESS WIRE)--Equity Residential (NYSE: EQR) today announced that the Company’s President and CEO, Mark J. Parrell, will participate in a roundtable discussion at the Bank of America Securities 2023 Global Real Estate Conference on Tuesday, September 12 at 1:55 p.m. CT. The event will be web cast live. A link to the web cast will be available in the Presentations section of the Investor section of the Company’s website at www.equityapartments.com. On September 6, 2023, the Company issued an operating update, which can be found in the Press Releases section of the Investor section of Company’s website.About Equity ResidentialEquity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,505 apartment units, with an established presence in Boston, New York, Washington, D.C., Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft. Worth and Austin. For more information on Equity Residential, please visit our website at www.equityapartments.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908284490/en/ContactsMarty McKenna(312) [email protected]

Business Wire

Equity Residential to Participate in Bank of America 2023 Global Real Estate Conference

https://finance.yahoo.com/news/equity-residential-participate-bank-america-201500617.html

8b350050-cb6a-3672-afb7-e3837caf9053

EQT

BPEA EQT sells its remaining 26.6 percent stake in Coforge, an India-headquartered Digital IT Solutions & Technology Consulting Services provider, through a USD 924m block tradeIdeally positioned in one of BPEA EQT's core sectors, Tech Services, Coforge has under BPEA EQT's ownership doubled its revenue and EBITDA, crossing USD 1 billion of revenue in April 2023        BPEA EQT helped strengthen Coforge's organic growth through enhancing its sales organization and re-aligning its go-to-market strategy, while supporting the recruitment of industry leading leadership, and executing on an ambitious M&A agendaMUMBAI, India, Aug. 24, 2023 /PRNewswire/ -- EQT is pleased to announce that BPEA Private Equity Fund VII ("BPEA EQT") has sold its remaining 26.6 percent stake in Coforge (the "Company"), listed on the Indian National Stock Exchange, through a USD 924 million block trade.Headquartered in Noida, India, Coforge is a technology services provider offering application development and maintenance, infrastructure management services and business process outsourcing services to clients primarily within the financial services, insurance, and travel verticals. The Company's proprietary platforms power critical business processes across its core verticals and it has presence in 21 countries globally with 26 delivery centers across nine countries.BPEA EQT and co-investors acquired a 70.1 percent stake in Coforge in May 2019 and under BPEA EQT's tenure, the Company has doubled its revenue and EBITDA, crossing USD 1 billion of revenue in April 2023. The growth has been driven by a combination of organic initiatives such as enhancing the sales organization, re-aligning focus on the three core verticals, building digital & AI capabilities, and executing a successful M&A strategy, including the acquisition of SLK Global. Coforge is a strong proponent of sustainability having pledged to be Carbon Neutral, Water Positive and Zero Waste by 2030.Story continuesHari Gopalakrishnan, Partner and Co-Head of BPEA EQT's Investment Advisory Team in India, commented, "Tech Services is a high conviction thematic for BPEA EQT and Coforge is benefitting from multiple sector tailwinds, such as AI enabling the existing apps estate, replacement of legacy systems and a continuing talent shift to Asia where countries like India have a deep STEM talent pool. The Company's long and sticky client relationships and deep technical expertise make it integral to the performance of multiple global market leaders in the banking, insurance and travel sectors. We are proud to have supported Coforge and its mission over the past four years. It has been a pleasure partnering with CEO Sudhir Singh and his entire team and we look forward to following the next phase of Coforge's growth."ContactEQT Press Office, [email protected], +46 8 506 55 334The following files are available for download:https://mb.cision.com/Main/87/3822931/2249201.pdfReleasehttps://news.cision.com/eqt/i/coforge,c3208945CoforgeCisionView original content:https://www.prnewswire.co.uk/news-releases/bpea-eqt-exits-coforge-a-multinational-digital-it-solutions--technology-consulting-services-provider-301909051.html

PR Newswire

BPEA EQT exits Coforge, a multinational Digital IT Solutions & Technology Consulting Services provider

https://finance.yahoo.com/news/bpea-eqt-exits-coforge-multinational-093300449.html

c2714b51-4a52-3251-b708-1b5e64e7aec6

EQT

It has been about a month since the last earnings report for EQT Corporation (EQT). Shares have added about 0.6% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is EQT Corporation 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 drivers.EQT Corporation Q2 Earnings & Revenues Beat EstimatesEQT Corporation reported second-quarter adjusted loss from continuing operations of 17 cents per share, beating the Zacks Consensus Estimate of a loss of 27 cents. However, the bottom line declined significantly from the year-ago quarter’s adjusted earnings of 83 cents.Adjusted operating revenues declined to $993 million from $1,612 million in the prior-year quarter. However, the top line also beat the Zacks Consensus Estimate of $965 million.Better-than-expected quarterly results were driven by lower operating costs. However, declining realizations of commodity prices partially offset the positives.Q2 OperationsProductionSales volumes declined to 470.8 billion cubic feet equivalent (Bcfe) from the year-ago quarter’s 501.5 Bcfe. The reported figure also missed our estimated sales volume of 496.5 Bcfe. Natural gas sales volume was 449.7 Bcf in the second quarter, down from 476.7 Bcf. It was also lower than our estimate of 473.6 Bcfe. Total liquids sales volume was 3,530 thousand barrels (MBbls) compared with the year-ago period’s 4,132 MBbls and lower than our estimate of 3810 MBbls.Commodity Price RealizationsThe average realized price was $2.11 per thousand cubic feet of natural gas equivalent (Mcfe), down from the year-ago quarter’s $3.21 per Mcfe. The Average natural gas price, including cash-settled derivatives, was $2.03 per Mcf, which decreased year-over-year from $3.01. The natural gas sales price was $2.20 per Mcf in the second quarter, lower than the year-ago quarter’s $7.54. It came lower than our estimate for the same which was pinned at $2.26 per Mcf. Also, oil prices were $49.71 per barrel, down from $91.38.Story continuesExpensesTotal operating expenses were $1,053.7 million in the second quarter of 2023, which was lower than $1,165.6 million reported in the prior-year quarter.Transmission expenses were 33 cents per Mcfe, up from the year-ago quarter of 30 cents. Lease operating expenses declined to 8 cents from 9 cents per Mcfe.Cash FlowsEQT’s adjusted operating cash flow was $340.8 million in the quarter, down from $916.3 million a year ago. The reported figure came lower than our estimate of $390.9 million. Free cash flow in the quarter was negative $129.3 million, significantly down from $542.6 million.Capex & Balance SheetTotal capital expenditure amounted to $473.2 million in the second quarter, up from $376.3 million a year ago.As of Mar 31, 2023, the company had $1,215.53 million in cash and cash equivalents. Net debt was $3,456.1 million.GuidanceFor 2023, EQT reiterated its guidance of total sales volumes of 1,900-2,000 Bcfe, the midpoint of which suggests an increase from $1,940 Bcfe reported in 2022. For the third quarter, total sales volumes are anticipated to be 475-525 Bcfe.The company expects total per-unit operating costs of $1.30-$1.42 per Mcfe in 2023. Capital expenditure for the third quarter is projected in the range of $400-$450 million and $1.7-$1.9 billion for the year.How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.The consensus estimate has shifted -86.8% due to these changes.VGM ScoresAt this time, EQT Corporation 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 B on the value side, putting it in the second quintile 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, EQT Corporation 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 reportEQT Corporation (EQT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is EQT Corporation (EQT) Up 0.6% Since Last Earnings Report?

https://finance.yahoo.com/news/why-eqt-corporation-eqt-0-153049146.html

7c3b3ade-d70a-336e-bd62-668320a98ea3

ES

Eversource Energy ES, an energy delivery company, provides reliable electric, natural gas and water services to more than 4.4 million customers in the United States.This Zacks Rank #3 (Hold) stock is exposed to stringent regulations and the adverse impact of rising interest rates on margins.TailwindsEversource pursues organic growth to expand operations. It is currently focused on upgrading its electric distribution and transmission infrastructure. The company forecasts a capital investment of $21.5 billion during 2023-2027 period, out of which it plans to invest $14.2 billion in electric and natural distribution networks and $5.3 billion in its electric transmission segment. It has planned to make clean energy investments of $2 billion during 2023-2027 period to strengthen its renewable portfolio.The company diversified operations and forayed into the water business through the acquisition of Aquarion Water Company in December 2017. Since the water industry has huge prospects, ES is planning to further expand water operations through acquisitions. During the 2023-2027 period, $1.02 billion is planned to be invested in the water distribution business to further strengthen operations and serve the expanding customer base more efficiently.Eversource decided to monetize few offshore wind projects but has plans to generate more clean energy to reduce emission. ES’ regulated companies are building many of the facilities that will enable more than 9,000 megawatts of offshore wind generation to reach the homes and businesses of Southern New England.HeadwindsThe $1.6 billion Northern Pass transmission project of Eversource Energy is finally shelved after the New Hampshire Supreme Court upheld the state Site Evaluation Committee’s 2018 denial of the project. The company has no way to take this 192-mile transmission project forward, as this will hurt its growth plans.The company’s operations are subject to federal, state and local legislative requirements, as well as extensive environmental regulations. The introduction of new mandates could impact the financial performance of the company.Story continuesPrice PerformanceIn the last three months, shares of Eversource have lost 10.6% compared with the industry's decline of 5.5%. Zacks Investment ResearchImage Source: Zacks Investment ResearchStocks to ConsiderA few better-ranked stocks in the same industry are Otter Tail Corporation OTTR, Vistra Corporation VST and FirstEnergy Inc. FE. Otter Tail and Vistra are currently sporting a Zacks Rank #1 (Strong Buy) each and FirstEnergy is carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Otter Tail’s 2023 earnings per share (EPS) is pinned at $5.79, implying an increase of 22.9% in the past 60 days. Otter Tail reported average positive earnings surprise of 31% in the trailing four quarters.The Zacks Consensus Estimate for Vistra’s 2023 EPS is pinned at $3.11, implying an increase of nearly 1% in the past 60 days. The current dividend yield of the company is 2.57%, which is higher than the Zacks S&P 500 Composite’s yield of 1.63%.The Zacks Consensus Estimate for FirstEnergy’s 2023 EPS is pinned at $2.53, implying an increase of 0.8% in the past 60 days. Long-term (three to five years) earnings growth of the company is pinned at 6.45%.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 reportFirstEnergy Corporation (FE) : Free Stock Analysis ReportEversource Energy (ES) : Free Stock Analysis ReportOtter Tail Corporation (OTTR) : Free Stock Analysis ReportVistra Corp. (VST) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Eversource (ES) Benefits From Investment & Renewable Focus

https://finance.yahoo.com/news/eversource-es-benefits-investment-renewable-165400731.html

fcb3e570-9f9b-36c9-b15c-6a9e8af96017

ES

BOSTON & HARTFORD, Conn., September 07, 2023--(BUSINESS WIRE)--Eversource Energy (NYSE: ES) today announced that it has completed its sale of the uncommitted lease area of approximately 175,000 developable acres located 25 miles off the south coast of Massachusetts to Ørsted for $625 million in an all-cash transaction. The transaction, which was announced on May 25, 2023, closed today following approval from the Committee on Foreign Investment in the United States.Eversource and Ørsted today have also announced the execution of a Tax Equity Capital Contribution Agreement for South Fork Wind. Eversource will use a portion of the proceeds from the lease area sale to provide its anticipated tax equity investment for South Fork Wind. The contribution for Eversource’s new tax equity member interest is expected to be approximately $545 million. Eversource expects to recover this tax equity member interest investment primarily in the form of investment tax credits as turbines are placed in service for South Fork Wind. These credits will be utilized to reduce federal tax liability, including refunds expected over the next nine months. Eversource also expects to receive approximately $273 million of this contribution as a distribution from the project prior to its commercial operations date, as it currently remains a managing member of the project, along with Ørsted. Construction of South Fork Wind commenced in early 2022, with commercial operation expected in late 2023. Eversource’s tax equity investment in South Fork Wind is expected to close in the third quarter."Eversource is fully committed to being a catalyst to the region’s clean energy transition, with our regulated companies procuring power from offshore wind as well as building many of the facilities that will enable more than 9,000 megawatts of offshore wind generation to reach the homes and businesses of Southern New England. We share the same goals as the states in which we operate when it comes to building the clean energy delivery systems of the future," said Joe Nolan, Eversource’s president, chief executive officer, and chairman. "With Ørsted as the 100% owner of this lease area, we are confident it will play a critical role in decarbonizing the generation mix of Southern New England and New York."Story continuesAs a result of Eversource completing its Offshore Wind Strategic Review, Eversource announced that it is in the best long-term interest of the company to advance the sale of its existing 50 percent interest in its three jointly owned contracted offshore wind projects (South Fork Wind, Revolution Wind, and Sunrise Wind) with a total capacity of 1,758 MW. This process continues to progress and Eversource expects to announce details of this transaction soon.Eversource has engaged Goldman Sachs as its financial advisor to assist with the transactions and Ropes & Gray serves as its legal counsel.Eversource Energy operates New England’s largest energy delivery system and serves approximately 4.4 million electric, natural gas and water utility customers in Connecticut, Massachusetts, and New Hampshire.This document includes statements concerning Eversource Energy’s expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts, including the anticipated timing for the closing the tax equity investment, as well as the anticipated contribution and distribution amounts and potential future tax credits and the timing for any update on the potential sale of Eversource’s offshore wind investment. These statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, readers can identify these forward-looking statements through the use of words or phrases such as "estimate," "expect," "anticipate," "intend," "plan," "project," "believe," "forecast," "should," "could" and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Forward-looking statements are based on the current expectations, estimates, assumptions or projections of management and are not guarantees of future performance. These expectations, estimates, assumptions or projections may vary materially from actual results. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors that may cause our actual results or outcomes to differ materially from those contained in our forward-looking statements, including, but not limited to: cyberattacks or breaches, including those resulting in the compromise of the confidentiality of our proprietary information and the personal information of our customers; disruptions in the capital markets or other events that make our access to necessary capital more difficult or costly; changes in economic conditions, including impact on interest rates, tax policies, and customer demand and payment ability; ability or inability to commence and complete our major strategic development projects and opportunities; acts of war or terrorism, physical attacks or grid disturbances that may damage and disrupt our electric transmission and electric, natural gas, and water distribution systems; actions or inaction of local, state and federal regulatory, public policy and taxing bodies; substandard performance of third-party suppliers and service providers; fluctuations in weather patterns, including extreme weather due to climate change; changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or future business model; contamination of, or disruption in, our water supplies; changes in levels or timing of capital expenditures; changes in laws, regulations or regulatory policy, including compliance with environmental laws and regulations; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other presently unknown or unforeseen factors.Other risk factors are detailed in Eversource Energy’s reports filed with the Securities and Exchange Commission (SEC). They are updated as necessary and available on Eversource Energy’s website at www.eversource.com and on the SEC’s website at www.sec.gov. All such factors are difficult to predict and contain uncertainties that may materially affect Eversource Energy’s actual results, many of which are beyond our control. You should not place undue reliance on the forward-looking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, Eversource Energy undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907393000/en/ContactsRobert S. Becker(860) 665-3249Caroline [email protected]

Business Wire

Eversource Energy Closes on the Sale of Uncommitted Offshore Lease Area

https://finance.yahoo.com/news/eversource-energy-closes-sale-uncommitted-203700974.html

9a2fe6d7-22f9-3dbe-b0a9-5ac8938811cd

ESOA

HUNTINGTON, W.Va., Aug. 14, 2023 /PRNewswire/ -- Energy Services of America Corporation (the "Company" or "Energy Services") (Nasdaq: ESOA), generated net income of $3.4 million, fully diluted earnings per share of $0.21, revenues of $85.5 million, and adjusted EBITDA of $7.5 million for the three months ended June 30, 2023.  The Company had a backlog of $185.9 million (unaudited) at June 30, 2023, as compared to $142.3 million (unaudited) and $135.0 million (unaudited) at September 30, 2022 and June 30, 2022, respectively.Douglas Reynolds, President, commented on the announcement. "We are very pleased with the results for our quarter ended June 30, 2023.  The $85.5 million in revenue is the largest amount generated in any quarter by the Company in its history.  Additionally, the $3.4 million in net income for the quarter is the second largest in the Company's history behind only the fourth quarter of fiscal year 2020.  During the first six months of fiscal year 2023, we made an investment in personnel to increase business opportunities.  We are starting to see the results of that investment with the quarter ended June 30, 2023."  Reynolds continued, "We have a backlog of $185.9 million (unaudited) at June 30, 2023 and continue to see opportunities across all of our business lines.  We are looking forward to a strong close of fiscal year 2023 and continuing to grow the Company in fiscal year 2024."Below is a comparison of the Company's operating results for the three and nine months ended June 30, 2023 and 2022 (unaudited):As RestatedAs RestatedThree Months EndedThree Months EndedNine Months EndedNine Months EndedJune 30, 2023June 30, 2022June 30, 2023June 30, 2022UnauditedUnauditedUnauditedUnauditedRevenue$           85,529,892$           51,171,939$     199,245,920$     129,223,642Cost of revenues74,650,89744,754,346178,480,010114,632,057Gross profit10,878,9956,417,59320,765,91014,591,585Selling and administrative expenses5,283,6173,821,04316,487,50210,870,677Income from operations5,595,3782,596,5504,278,4083,720,908Other income (expense)Interest income--196576Other nonoperating expense(72,338)(174,957)(163,525)(438,195)Interest expense(639,888)(231,265)(1,713,862)(623,498)Gain on sale of equipment30,13658,31147,073418,103(682,090)(347,911)(1,830,118)(643,014)Income before income taxes4,913,2882,248,6392,448,2903,077,894Income tax expense1,497,742651,396767,970945,216Net income$             3,415,546$             1,597,243$         1,680,320$         2,132,678Weighted average shares outstanding-basic16,602,55616,449,82916,659,16916,270,499Weighted average shares-diluted 16,602,55616,449,82916,659,16916,270,499Earnings per share$                      0.21$                      0.10$                  0.10$                  0.13Earnings per share-diluted$                      0.21$                      0.10$                  0.10$                  0.13 Story continuesPlease refer to the table below that reconciles adjusted EBITDA with net income (unaudited):As RestatedAs RestatedThree Months EndedThree Months EndedNine Months EndedNine Months EndedJune 30, 2023June 30, 2022June 30, 2023June 30, 2022UnauditedUnauditedUnauditedUnauditedNet income$          3,415,546$            1,597,243$          1,680,320$          2,132,678Add: Income tax expense 1,497,742651,396767,970945,216Add:  Interest expense639,888231,265#1,713,862#623,498Add: Non-operating expense, net of interest income and gain on sale of equipment42,202116,646116,25619,516Add: Amortization of intangible assets135,820111,842401,221307,698Add: Depreciation expense1,727,0551,413,6385,356,1664,006,663Adjusted EBITDA$          7,458,253$            4,122,030$        10,035,795$          8,035,269 Use of Non-GAAP Financial MeasuresIn addition to the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release contains certain non-GAAP financial measures. The reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures and other information relating to these measures are included herein. We include these measurements to enhance the understanding of our operating performance. We believe that Adjusted EBITDA as presented herein, considered along with net income (loss), is a relevant indicator of trends relating to the cash generating activity of our operations. We believe that excluding the costs herein provides a consistent comparison of the cash generating activity of our operations. We believe that Adjusted EBITDA is useful to investors as they facilitate a comparison of our operating performance to other companies who also use Adjusted EBITDA as supplemental operating measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP.About Energy ServicesEnergy Services of America Corporation (NASDAQ: ESOA), headquartered in Huntington, WV, is a contractor and service company that operates primarily in the mid-Atlantic and Central regions of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. Energy Services employs 1,000+ employees on a regular basis. The Company's core values are safety, quality, and production.Certain statements contained in the release including, without limitation, the words "believes," "anticipates," "intends," "expects" or words of similar import, constitute "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such 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 any future results, performance or achievements of the Company expressed or implied by such forward-looking statements. Such factors include, among others, general economic and business conditions, changes in business strategy or development plans, the effect of the COVID-19 pandemic, the integration of acquired business and other factors referenced in this release, risks and uncertainties related to the restatement of certain of our historical consolidated financial statements. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.CisionView original content:https://www.prnewswire.com/news-releases/energy-services-of-america-announces-financial-results-for-the-three-and-nine-months-ended-june-30-2023-301899978.htmlSOURCE Energy Services of America Corporation

PR Newswire

Energy Services of America Announces Financial Results for the Three and Nine Months Ended June 30, 2023

https://finance.yahoo.com/news/energy-services-america-announces-financial-203500687.html

8985dd00-1c61-3076-bd76-cb2792409bf2

ESOA

Generally, when a single insider buys stock, it is usually not a big deal. However, when several insiders are buying, like in the case of Energy Services of America Corporation (NASDAQ:ESOA), it sends a favourable message to the company's 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. View our latest analysis for Energy Services of America Energy Services of America Insider Transactions Over The Last YearIn the last twelve months, the biggest single sale by an insider was when the Chairman of the Board, Marshall Reynolds, sold US$56k worth of shares at a price of US$2.74 per share. That means that an insider was selling shares at slightly below the current price (US$3.01). When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. This single sale was just 1.2% of Marshall Reynolds's stake.Over the last year, we can see that insiders have bought 50.77k shares worth US$142k. On the other hand they divested 26.70k shares, for US$74k. In total, Energy Services of America insiders bought more than they sold over the last year. 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-volumeThere are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.Are Energy Services of America Insiders Buying Or Selling?Over the last three months, we've seen a bit of insider buying at Energy Services of America. Insiders bought US$8.5k worth of shares in that time. We like it when there are only buyers, and no sellers. However, in this case the amount invested recently is quite small.Story continuesDoes Energy Services of America Boast High Insider Ownership?Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Energy Services of America insiders own 42% of the company, currently worth about US$21m based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.What Might The Insider Transactions At Energy Services of America Tell Us?We note a that there has been a bit of insider buying recently (but no selling). That said, the purchases were not large. However, our analysis of transactions over the last year is heartening. With high insider ownership and encouraging transactions, it seems like Energy Services of America insiders think the business has merit. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Be aware that Energy Services of America is showing 3 warning signs in our investment analysis, and 1 of those is potentially serious...But note: Energy Services of America 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.

Simply Wall St.

Positive Signs As Multiple Insiders Buy Energy Services of America Stock

https://finance.yahoo.com/news/positive-signs-multiple-insiders-buy-120658939.html

ae68487c-0166-3e23-a41c-65613002244a

ESS

By Davit KirakosyanHere is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at Polestar Automotive, Essex Property Trust, ABM Industries, and Clarivate.InvestingPro subscribers got this news first. Never miss another market-moving headline.Polestar Automotive slashed at BarclaysPolestar Automotive (NASDAQ:PSNY) shares dropped more than 8% yesterday after Barclays downgraded the company to Underweight from Equal Weight and cut its price target to $3.00 from $5.00 on demand and capital concerns.“The largest incremental development since our launch of coverage has been a deterioration of EV demand,” mentioned Barclays. The firm acknowledges Polestar’s reliance on contract manufacturing as a strategic move to sidestep direct price competition by eliminating overhead cost worries, however, the uncertain demand landscape raises concerns about the company’s eventual production levels.Essex Property Trust cut at CitiCiti downgraded Essex Property Trust (NYSE:ESS) to Neutral from Buy and cut its price target to $260.00 from $280.00, as reported in real-time on InvestingPro.Despite ESS's positive outlook on rent growth and limited new supply in its markets, the bank expects a cautious growth forecast for 2024 in the upcoming Q3 earnings.Like peers, the company’s rent growth looked slightly weaker to us than expected. Thus, we downgrade to Neutral on balanced risk/reward profile at ESS’ current premium valuation.More analyst cutsABM Industries (NYSE:ABM) received two downgrades following the company’s reported Q3 miss, which resulted in a stock price drop of more than 13% yesterday.William Blair downgraded the company to Market Perform Outperform.Meanwhile, Deutsche Bank downgraded to Hold from Buy and cut its price target to $43.00 from $65.00.The bank cited disappointing results and guidance, which include a continued downturn due to a weak commercial real estate market in fiscal 2024, ongoing delays in Technical Solutions projects, and the possibility of losing significant business in the manufacturing & distribution sector from a large customer.Story continuesClarivate (NYSE:CLVT) shares fell more than 3% pre-market today after Barclays downgraded the company to Underweight from Equal Weight and cut its price target to $7.00 from $8.00.We move to Underweight on a litany of shortcomings in the company's three divisions and a lack of urgency to conduct a strategic review.Get ready to supercharge your investment strategy with our exclusive discounts.Don't miss out on this limited-time opportunity to access cutting-edge tools, real-time market analysis, and expert insights. Join InvestingPro today and unlock your investing potential. Hurry, the Summer Sale won't last forever!Related Articles4 big analyst cuts: Polestar Automotive slashed at Barclays as demand weakensWalmart's lower starting pay suggests labor market is easingKroger shares dip after missing revenue expectations

Investing.com

4 big analyst cuts: Polestar Automotive slashed at Barclays as demand weakens

https://finance.yahoo.com/news/4-big-analyst-cuts-polestar-065431997.html

3beb1f59-7db2-3fb9-9e35-93857db587a1

ESS

Essex Property Trust Inc (NYSE:ESS) experienced a daily loss of -1.82%, and a 3-month loss of -0.73%. Its Earnings Per Share (EPS) stands at 8.22. Despite these figures, the stock appears to be modestly undervalued. This article presents an in-depth valuation analysis of Essex Property Trust (NYSE:ESS), providing valuable insights for potential investors.Company IntroductionWarning! GuruFocus has detected 5 Warning Signs with ESS. Click here to check it out. ESS 30-Year Financial DataThe intrinsic value of ESSEssex Property Trust owns a portfolio of 252 apartment communities with over 62,000 units. The company is also developing another property with 264 units. Its focus is on owning large, high-quality properties on the West Coast, specifically in the urban and suburban submarkets of Southern California, Northern California, and Seattle. With a current stock price of $227.03 per share, Essex Property Trust has a market cap of $14.60 billion, indicating that the stock might be modestly undervalued.Unveiling Essex Property Trust (ESS)'s Value: Is It Really Priced Right? A Comprehensive GuideUnderstanding the GF ValueThe GF Value is a proprietary measure that represents the current intrinsic value of a stock. This value is derived from historical multiples, a GuruFocus adjustment factor based on the company's past performance and growth, and future business performance estimates. The GF Value Line provides an overview of the fair value at which the stock should ideally be traded. 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.Essex Property Trust's stock seems to be modestly undervalued according to GuruFocus' valuation method. This suggests that the long-term return of its stock is likely to be higher than its business growth.Unveiling Essex Property Trust (ESS)'s Value: Is It Really Priced Right? A Comprehensive GuideLink: These companies may deliver higher future returns at reduced risk.Assessing Financial StrengthCompanies with poor financial strength pose a high risk of permanent capital loss. To avoid this, an investor must review a company's financial strength before purchasing shares. Essex Property Trust has a cash-to-debt ratio of 0.03, ranking worse than 68.43% of 719 companies in the REITs industry. Overall, the financial strength of Essex Property Trust is rated 4 out of 10, indicating that it is poor.Story continuesUnveiling Essex Property Trust (ESS)'s Value: Is It Really Priced Right? A Comprehensive GuideProfitability and GrowthInvesting in profitable companies, especially those that have demonstrated consistent profitability over the long term, poses less risk. Essex Property Trust has been profitable over the past 10 years. Over the past twelve months, the company had a revenue of $1.70 billion and Earnings Per Share (EPS) of $8.22. Its operating margin is 31.95%, ranking worse than 70.83% of 665 companies in the REITs industry. Overall, GuruFocus ranks the profitability of Essex Property Trust at 8 out of 10, indicating strong profitability.Growth is a crucial factor in the valuation of a company. The 3-year average annual revenue growth rate of Essex Property Trust is 3.7%, ranking better than 62.88% of 633 companies in the REITs industry. However, the 3-year average EBITDA growth rate is 1%, ranking worse than 51.87% of 536 companies in the REITs industry.Comparing ROIC and WACCReturn on invested capital (ROIC) and the weighted average cost of capital (WACC) are crucial metrics for evaluating a company's profitability. Over the past 12 months, Essex Property Trust's ROIC was 4.34, while its WACC came in at 7.77. If the ROIC is higher than the WACC, it indicates that the company is creating value for shareholders.Unveiling Essex Property Trust (ESS)'s Value: Is It Really Priced Right? A Comprehensive GuideConclusionIn summary, the stock of Essex Property Trust seems to be modestly undervalued. The company's financial condition is poor, but its profitability is strong. Its growth ranks worse than 51.87% of 536 companies in the REITs industry. To learn more about Essex Property Trust stock, you can check out its 30-Year Financials here.For 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

Unveiling Essex Property Trust (ESS)'s Value: Is It Really Priced Right? A Comprehensive Guide

https://finance.yahoo.com/news/unveiling-essex-property-trust-ess-153736603.html

bd8fc7cc-6e65-39cc-bd42-7e8697e5b000

ETD

Shares of Ethan Allen (ETD) have been struggling lately and have lost 5.9% 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 home furnishings company enhances its prospects of a trend reversal.Understanding 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 ETDAn upward trend in earnings estimate revisions that ETD has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That's because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.Over the last 30 days, the consensus EPS estimate for the current year has increased 6.9%. What it means is that the sell-side analysts covering ETD are majorly in agreement that the company will report better earnings than they predicted earlier.If this is not enough, you should note that ETD 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, a Zacks Rank of 2 for Ethan Allen is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.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 reportEthan Allen Interiors Inc. (ETD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Ethan Allen (ETD) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

https://finance.yahoo.com/news/ethan-allen-etd-may-bottom-135505643.html

7a3e6de9-e1c0-39dc-a1cf-9b61ecb158ff

ETD

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.One company value investors might notice is Ethan Allen Interiors Inc. (ETD). ETD is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 9.29. This compares to its industry's average Forward P/E of 11.17. Over the last 12 months, ETD's Forward P/E has been as high as 11.72 and as low as 7.23, with a median of 8.57.Finally, investors will want to recognize that ETD has a P/CF ratio of 6.44. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 11.06. Over the past year, ETD's P/CF has been as high as 7.53 and as low as 4.20, with a median of 5.49.These are just a handful of the figures considered in Ethan Allen Interiors Inc.'s great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that ETD is an impressive value stock right now.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 reportEthan Allen Interiors Inc. (ETD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Are Investors Undervaluing Ethan Allen Interiors Inc. (ETD) Right Now?

https://finance.yahoo.com/news/investors-undervaluing-ethan-allen-interiors-134011090.html

9ff1dcdd-e2dd-392d-b24f-e9c4659fedb6

ETN

Ingersoll Rand Inc. IR is well-poised for growth, courtesy of the company’s solid product portfolio, innovation capabilities and focus on boosting its aftermarket businesses.Let’s delve into the factors, which make this Zacks Rank #1 (Strong Buy) company a smart investment choice at the moment.Business Strength: Ingersoll Rand’s Industrial Technologies & Services segment is benefiting from solid demand. The company continues to see higher orders across its product portfolio of compressors, vacuum and blowers, and power tools and lifting within the Industrial Technologies & Services unit.Pricing actions and acquired assets are boosting revenues in the Precision & Science Technologies segment. Also, exposure to various end markets, including industrial manufacturing, mining & construction, energy, transportation, medical and laboratory sciences, food and beverage packaging as well as chemical processing, should help Ingersoll Rand offset weaknesses associated with a single market.Expansion Efforts: IR has been strengthening its business through acquisitions. The company acquired SPX FLOW’s Air Treatment business in January 2023. The buyout boosted IR’s core compressor product offering through a complementary product portfolio of energy-efficient compressed air dryers, filters and other consumables. The Air Treatment business is currently a part of IR’s Industrial Technologies and Services segment.The acquisition of Dosatron International (October 2022) expanded Ingersoll Rand’s digital technology portfolio, opening up opportunities in hydroponics, horticulture, animal health, food safety and sanitation along with water treatment end markets, where Dosatron had a strong presence. Dosatron is now a part of Ingersoll Rand’s Precision and Science Technologies segment. In second-quarter 2023, acquisitions contributed 5.9% to Ingersoll Rand’s total revenues. For 2023, the company anticipates mergers/acquisitions to contribute $300 million to total revenues.Rewards to Shareholders: The company continues to increase shareholders’ value through dividend payments and share buybacks. In the first six months of 2023, the company paid out dividends of $16.2 million and repurchased shares worth $132.8 million.Northbound Estimate Revisions: In the past 60 days, the Zacks Consensus Estimate for IR’s 2023 earnings has been revised 2.2% upward.Price Performance: Shares of the company have gained 42% in the past year compared with the industry’s 16.3% increase.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchOther Stocks to ConsiderSome other top-ranked companies from the Industrial Products sector are discussed below:Caterpillar Inc. CAT presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks.CAT’s earnings surprise in the last four quarters was 18.5%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 11.1% for 2023. The stock has gained 55.9% in the past year.Eaton Corporation plc ETN currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of approximately 3%, on average.In the past 60 days, estimates for Eaton’s earnings have increased 3.9% for 2023. The stock has soared 65.8% in the past year.A. O. Smith Corp. AOS presently carries a Zacks Rank of 2. AOS’ earnings surprise in the last four quarters was 10.5%, on average.In the past 60 days, estimates for A. O. Smith’s earnings have increased 2.9% for 2023. The stock has gained 28.7% in the past year.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 reportCaterpillar Inc. (CAT) : Free Stock Analysis ReportEaton Corporation, PLC (ETN) : Free Stock Analysis ReportA. O. Smith Corporation (AOS) : Free Stock Analysis ReportIngersoll Rand Inc. (IR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why It Is Worth Investing in Ingersoll Rand (IR) Stock

https://finance.yahoo.com/news/heres-why-worth-investing-ingersoll-152100584.html

070a6eb4-d0e2-3236-b105-f2b44c877183

ETN

Zebra Technologies Corporation ZBRA has failed to impress investors with its recent operational performance due to low demand across end markets and foreign currency headwinds. These factors are likely to impede ZBRA’s earnings in the quarters ahead.Let’s discuss the factors that might continue taking a toll on this Zacks Rank #5 (Strong Sell) company.Business Weakness: Weakness in the printing end market is affecting the Asset Intelligence and Tracking segment’s performance. Revenues from the unit declined 1.7% in the second quarter of 2023. Significant weakness in the mobile computing market has been weighing on the Enterprise Visibility & Mobility segment, revenues from which declined 24.6% year over year in the second quarter of 2023.Softness in End Markets: Low demand across end markets, particularly in the retail and e-commerce and transportation logistics markets, is taking a toll on Zebra Technologies’ operations. Also, reduced consumer spending, thanks to interest rate hikes, has been weighing on the company’s operations. Due to these headwinds, as well as significant reduction in demand in the mobile computing market, Zebra Technologies has provided a bleak forecast for the third quarter of 2023 and the full year. For the third quarter, ZBRA expects a 30-35% drop in net sales from the year-ago reported quarter. For 2023, the company expects net sales to decline 20-23% from the year-ago period.Forex Woes: Given its widespread presence in international markets, Zebra Technologies is exposed to unfavorable foreign currency movements. The foreign-currency translation had an adverse impact of 2.5% on sales in the first half of 2023. For the third quarter and the full year, the company expects a negative impact of 1 percentage point each from currency headwinds on its sales.Southbound Estimate Revisions: In the past 60 days, the Zacks Consensus Estimate for ZBRA’s 2023 earnings has been revised 30.3% downward.Price Performance: Shares of the company have declined 15.6% in the past year against the industry’s 5.1% increase.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked companies from the Industrial Products sector are discussed below:Caterpillar Inc. CAT presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.CAT’s earnings surprise in the last four quarters was 18.5%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 11.1% for 2023. The stock has gained 48.5% in the past year.Eaton Corporation plc ETN currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of approximately 3%, on average.In the past 60 days, estimates for Eaton’s earnings have increased 3.9% for 2023. The stock has soared 61.2% in the past year.A. O. Smith Corp. AOS presently carries a Zacks Rank of 2. AOS’ earnings surprise in the last four quarters was 10.5%, on average.In the past 60 days, estimates for A. O. Smith’s earnings have increased 2.9% for 2023. The stock has gained 27.4% in the past year.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 reportCaterpillar Inc. (CAT) : Free Stock Analysis ReportEaton Corporation, PLC (ETN) : Free Stock Analysis ReportA. O. Smith Corporation (AOS) : Free Stock Analysis ReportZebra Technologies Corporation (ZBRA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why You Should Avoid Zebra Technologies (ZBRA) Now

https://finance.yahoo.com/news/heres-why-avoid-zebra-technologies-160600684.html

1eb65e28-45b1-3e26-a9b7-5dfecbc40f88

ETR

By providing bill relief and resources, Entergy steps up to help low-income customers overcome the stress of high temperaturesJACKSON, MS / ACCESSWIRE / September 7, 2023 / This summer, Entergy Mississippi launched a series of measures through its "Beat the Heat" program focused on helping low-income customers and communities stay cool and pay their bills. This year marks the 22nd year of the program, which provides bill payment assistance, fans and energy efficiency kits and support from local community partners to help hundreds of residential customers.Summer brings hot weather, and record temperature highs across Entergy's service areas, resulting in higher energy usage. These challenging conditions can be stressful and, Entergy Mississippi is stepping up to help those most in need."Whether it's working to provide bill payment assistance to low and moderate-income residents, distributing fans and energy efficiency kits, or weatherizing houses, we are committed to helping our customers in need," said Haley Fisackerly, Entergy Mississippi president and CEO. "We recognize the economic challenges our communities are facing, and we are doing everything we can to help them prepare for the summer heat and manage their Entergy bills."In response to these challenges, Entergy Mississippi is equipping residential customers with information and tools to reduce the impact of high summer temperatures and increased energy usage, including partnering with community action agencies to:Commit more than $520,000 to The Power to Care program, which provides bill assistance to older adults and customers with disabilities.Sponsor community cooling centers for customers in Hinds and Sunflower counties.Purchase air conditioning units and fans for customers in the Mississippi Delta and Desoto, Amite, Pike, Walthall, and Wilkinson counties.Sponsor water activities for children in DeSoto County.Commit $1 million to distribute free energy efficiency kits to customer.Story continuesFor more information about Entergy Mississippi "Beat the Heat" program, visit www.entergy.com/answers.About Entergy MississippiEntergy Mississippi, LLC provides electricity to approximately 461,000 customers in 45 counties. Entergy Mississippi is a subsidiary of Entergy Corporation, a Fortune 500 electric company. Entergy powers life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We're investing in the reliability and resilience of the energy system while helping our region transition to cleaner, more efficient energy solutions. With roots in our communities for more than 100 years, Entergy is a nationally recognized leader in sustainability and corporate citizenship. Since 2018, we have delivered more than $100 million in economic benefits each year to local communities through philanthropy, volunteerism and advocacy. Entergy is headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. For the latest news from Entergy, visit the Newsroom.View additional multimedia and more ESG storytelling from Entergy Corporation on 3blmedia.com.Contact Info:Spokesperson: Entergy CorporationWebsite: https://www.3blmedia.com/profiles/entergy-corporationEmail: [email protected]: Entergy CorporationView source version on accesswire.com: https://www.accesswire.com/781701/entergy-mississippi-helps-vulnerable-customers-beat-the-heat-this-summer

ACCESSWIRE

Entergy Mississippi Helps Vulnerable Customers Beat the Heat This Summer

https://finance.yahoo.com/news/entergy-mississippi-helps-vulnerable-customers-141000045.html

89384422-c556-3b38-b2f8-537571211cda

ETR

One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. We'll use ROE to examine Entergy Corporation (NYSE:ETR), by way of a worked example.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. See our latest analysis for Entergy 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 Entergy is:10% = US$1.4b ÷ US$14b (Based on the trailing twelve months to June 2023).The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.10 in profit.Does Entergy Have A Good Return On Equity?By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As you can see in the graphic below, Entergy has a higher ROE than the average (8.3%) in the Electric Utilities industry.roeThat is a good sign. However, bear in mind that a high ROE doesn’t necessarily indicate efficient profit generation. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk. Our risks dashboardshould have the 3 risks we have identified for Entergy.How Does Debt Impact Return On Equity?Virtually all companies need money to invest in the business, to grow profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.Story continuesEntergy's Debt And Its 10% ROEIt's worth noting the high use of debt by Entergy, leading to its debt to equity ratio of 2.01. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.SummaryReturn on equity is one way we can compare its business quality of different companies. A company that can achieve a high return on equity without debt could be considered a high quality business. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.Of course Entergy may not be the best stock to buy. So you may wish to see this free collection of other companies that have high ROE and low debt.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.

Can Entergy Corporation (NYSE:ETR) Maintain Its Strong Returns?

https://finance.yahoo.com/news/entergy-corporation-nyse-etr-maintain-143434594.html

6cb89064-a02d-3dbb-8255-2a7524f3d72a

ETSY

With the Nasdaq Composite up an impressive 31% so far in 2023, investors might assume that most companies have benefited from the market's recent rally. Take e-commerce marketplace operator Etsy (NASDAQ: ETSY), whose shares are down a whopping 42% this year. It's evident that this online shopping destination for unique and handcrafted goods has been dealing with a notable slowdown, but the beaten-down share price presents a buying opportunity for investors interested in this growth stock.Continue reading

Motley Fool

1 Growth Stock Down 42% to Buy Right Now

https://finance.yahoo.com/m/cb3ae803-e212-3437-ac10-1c23dfaf6fd5/1-growth-stock-down-42-to.html

cb3ae803-e212-3437-ac10-1c23dfaf6fd5

ETSY

Both companies offer something for investors, but after assessing their recent quarterly reports, one name emerges as the winner.Continue reading

Motley Fool

Better Buy: Etsy vs. Pinterest

https://finance.yahoo.com/m/63a7fb51-9e20-304b-999a-7ca79583b71a/better-buy-etsy-vs-pinterest.html

63a7fb51-9e20-304b-999a-7ca79583b71a

EVA

BETHESDA, Md., August 17, 2023--(BUSINESS WIRE)--Enviva Inc. (NYSE: EVA) ("Enviva") today announced members of its management team will attend the Barclays CEO Energy-Power Conference on Tuesday, September 5 and Wednesday, September 6, 2023, in New York City.To view and download the presentation materials being used at these events, please visit ir.envivabiomass.com.About EnvivaEnviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Additionally, Enviva is planning to commence construction of its 12th plant, near Bond, Mississippi. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to defossilize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.To learn more about Enviva please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.View source version on businesswire.com: https://www.businesswire.com/news/home/20230817812157/en/ContactsINVESTOR CONTACT: Kate WalshVice President, Investor Relations+1 [email protected]

Business Wire

Enviva to Participate in Investor Conference

https://finance.yahoo.com/news/enviva-participate-investor-conference-203000538.html

d36864cb-f416-3b28-8a47-4d131ece61d5

EVA

BETHESDA, Md., August 30, 2023--(BUSINESS WIRE)--Enviva Inc. (NYSE: EVA) ("Enviva" or the "Company"), the world’s leading producer of sustainably sourced woody biomass, today announced that Glenn Nunziata has been named the Company’s Executive Vice President and Chief Financial Officer, effective immediately.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230830090441/en/Glenn Nunziata (Photo: Business Wire)"We are excited to welcome Glenn to Enviva’s executive team at a time when our Company and the global biomass industry are serving an increasingly important role in the energy transition, providing energy security and defossilizing supply chains worldwide," said Thomas Meth, President and Chief Executive Officer. "Following the difficult but necessary decisions we made in the first half of 2023, we have started to see improvements take hold in increasing production from our existing asset portfolio and reducing costs company-wide. In tandem with the constructive pricing environment for our product, we are on the path to rebuilding a strong financial foundation which is expected to support the significant growth ahead for us and increase shareholder value over time."With deep expertise in finance, strategy, accounting, treasury, and risk management, Mr. Nunziata brings more than 20 years of strong leadership experience with a track record for implementing enterprise-wide changes and driving key financial and process improvements in large-scale organizations. Most recently, Mr. Nunziata served as the Chief Financial Officer of Smithfield Foods Inc., an $18 billion company that owns and operates processing facilities across the U.S. and works with thousands of farmers and landowners each year managing its diversified supply chain. Prior to his tenure at Smithfield Foods Inc., he held various positions of increasing responsibility at EY, most recently as a Partner in Assurance Services.Story continuesMr. Meth added, "We believe Glenn will play a key role in improving our financial processes as we continue to focus on the cost structure and profitability of our plants, contracts, and supply chain. Glenn’s value-oriented mindset, dedication to leading purpose-driven teams, and unwavering focus on our financial goals will make him an invaluable asset to our stakeholders, and we look forward to the contributions he will undoubtedly make as we high-grade our finance function and scale our back office to support the execution of our long-term growth strategy."Mr. Nunziata holds a Bachelor of Science and a Masters in Accounting from James Madison University. He currently serves as Vice Chairman of the Board of Directors of StoneBridge School and sits on the Board of Advisors for the College of Business at James Madison University.Mr. Nunziata succeeds Shai Even, who held the role since 2018. "I would like to thank Shai for his service over the past five years and wish him the best of luck in his future pursuits," concluded Mr. Meth.About EnvivaEnviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Additionally, Enviva is planning to commence construction of its 12th plant, near Bond, Mississippi. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to defossilize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.To learn more about Enviva please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.Cautionary Note Concerning Forward Looking StatementsThe information included herein and in any oral statements made in connection herewith include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms, and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva. These risks include, but are not limited to factors, as described in Enviva’s filings with the Securities and Exchange Commission (the "SEC"), including the detailed factors discussed under the heading "Risk Factors" in Enviva’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as supplemented in the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31 and June 30, 2023.Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Enviva’s expectations and projections can be found in Enviva’s periodic filings with the SEC. Enviva’s SEC filings are available publicly on the SEC’s website at www.sec.gov.View source version on businesswire.com: https://www.businesswire.com/news/home/20230830090441/en/ContactsKate WalshSenior Vice President, Investor Relations & Corporate Communications+1 [email protected]

Business Wire

Enviva Appoints Glenn Nunziata as New Chief Financial Officer

https://finance.yahoo.com/news/enviva-appoints-glenn-nunziata-chief-203000077.html

c97ce24e-7487-3645-b95e-cc0165d68dac

EVBG

Potential Everbridge, Inc. (NASDAQ:EVBG) shareholders may wish to note that the Independent Director, Richard D’Amore, recently bought US$246k worth of stock, paying US$22.39 for each share. That certainly has us anticipating the best, especially since they thusly increased their own holding by 173%, potentially signalling some real optimism. Check out our latest analysis for Everbridge Everbridge Insider Transactions Over The Last YearThe Independent Chairman of the Board of Directors & Lead Director David Henshall made the biggest insider purchase in the last 12 months. That single transaction was for US$465k worth of shares at a price of US$23.24 each. That implies that an insider found the current price of US$23.52 per share to be enticing. Of course they may have changed their mind. But this suggests they are optimistic. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. The good news for Everbridge share holders is that insiders were buying at near the current price.Over the last year, we can see that insiders have bought 34.00k shares worth US$776k. But they sold 23.80k shares for US$769k. Overall, Everbridge insiders were net buyers during the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!insider-trading-volumeEverbridge 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.Does Everbridge 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. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our data indicates that Everbridge insiders own about US$6.4m worth of shares (which is 0.7% of the company). We do generally prefer see higher levels of insider ownership.Story continuesSo What Do The Everbridge Insider Transactions Indicate?It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. But on the other hand, the company made a loss during the last year, which makes us a little cautious. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Everbridge insiders are expecting a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. While conducting our analysis, we found that Everbridge has 2 warning signs and it would be unwise to ignore these.Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.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.

Simply Wall St.

Richard D’Amore Bought 173% More Shares In Everbridge

https://finance.yahoo.com/news/richard-d-amore-bought-173-100911474.html

20db506d-252c-32a1-a13f-9a077455308d

EVBG

The premier public warning event brings together global policymakers, researchers, and practitioners to explore the latest advancements in early warning systemsLONDON, August 22, 2023--(BUSINESS WIRE)--Everbridge, Inc. (Nasdaq: EVBG), the global leader in critical event management (CEM) and national public warning software solutions, today announced its participation at the Creating Effective Warnings for All Conference taking place at University College London (UCL) from September 11 to 13, 2023. As the only private technology company sponsoring this important event, Everbridge joins government and humanitarian leaders in showcasing its technology and commitment to driving innovation and excellence in public warning systems. Everbridge Public Safety solutions support the UN’s "Early Warnings for All" initiative, the goal of which is to protect every person on Earth with an early warning system by 2027.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230822498116/en/Everbridge Supports Research for "Creating Effective Warnings for All" (Photo: Business Wire)"We are honored to participate in and support such a valuable forum as 'Creating Effective Warnings for All’ at the esteemed University College London and to share our experience implementing public warning systems for countries around the world," said Dave Wagner, CEO of Everbridge. "Helping to build resilient communities and organizations is core to our mission. Everbridge is committed to acting now in driving the innovation and collaboration – with our customers, partners, and stakeholders – needed to pursue global climate adaptation goals within our industry and beyond."The Creating Effective Warnings for All Conference brings together global policymakers, researchers, financiers, and practitioners from around the world to discuss and explore the latest advancements in warning systems. The three-day conference aims to promote knowledge exchange, collaboration, and the development of best practices to ensure effective warnings reach all individuals, regardless of their location or abilities.Story continuesThe Everbridge gold sponsorship reflects the company’s dedication to research in advancing public safety and emergency communication. With its robust and market-leading cell broadcast and location-based SMS and address-based SMS platform, Everbridge enables organizations to rapidly and accurately disseminate emergency warnings, saving lives and keeping residents and travelers informed. Helping to protect populations across the globe, Everbridge Public Warning is trusted and deployed by more national governments than any other provider including the United Kingdom, Germany, Norway, Sweden, Spain, the Netherlands, Greece, Iceland, Estonia, Singapore, Peru, Australia, New Zealand, Mauritius, and several coastal states in India.Everbridge will present three sessions during the conference:Monday 11 September 202315.30 - 17.00 Session 3A"Accelerating early action: Integrating EWS and trigger-based finance with national and international financial mechanisms"Panel: Glynnis Kellaway, Sr. Director Finance, Everbridge; Viktoria Seifert, Willis Tower WatsonTuesday 12 September 202310.45 - 11.15 Keynote panel discussion"Making the last mile, the first: Integrating bottom-up and top-down approaches"Panel: Val Risk, VP International Public safety Everbridge; CUAMM UK; Red Cross13.30 - 15.00 Session 5A"The role of technology in warnings – now and the future"Panel: Manuel Cornelisse, Sr. Director Sales, Everbridge; CUAMM; Red Cross15.30 - 17.00 Session 6C"Translating warnings from technology to action, and filling the gaps"Panel: Chris Van Arum, Peter Sanders, Directors of Product Management and Standards, EverbridgeAttendees will have the opportunity to engage with the Everbridge team to gain insights into best practices and emerging trends in early warning systems.Everbridge serves as an active institutional member of both the International Telecommunications Union (ITU) and the UNDRR Private Sector Alliance for Disaster Resilient Societies (ARISE) and takes part in the European Union research and innovation program Horizon 2020.About EverbridgeEverbridge (Nasdaq: EVBG) empowers enterprises and government organizations to anticipate, mitigate, respond to, and recover stronger from critical events. In today’s unpredictable world, resilient organizations minimize impact to people and operations, absorb stress, and return to productivity faster when deploying critical event management (CEM) technology. Everbridge digitizes organizational resilience by combining intelligent automation with the industry’s most comprehensive risk data to Keep People Safe and Organizations Running™. For more information, visit https://www.everbridge.com/, read the company blog, and follow on Twitter. Everbridge… Empowering Resilience.Cautionary Language Concerning 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, statements regarding the anticipated opportunity and trends for growth in our critical communications and enterprise safety applications and our overall business, our market opportunity, our expectations regarding sales of our products, our goal to maintain market leadership and extend the markets in which we compete for customers, and anticipated impact on financial results. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the ability of our products and services to perform as intended and meet our customers’ expectations; our ability to successfully integrate businesses and assets that we may acquire; our ability to attract new customers and retain and increase sales to existing customers; our ability to increase sales of our Mass Notification application and/or ability to increase sales of our other applications; developments in the market for targeted and contextually relevant critical communications or the associated regulatory environment; our estimates of market opportunity and forecasts of market growth may prove to be inaccurate; we have not been profitable on a consistent basis historically and may not achieve or maintain profitability in the future; the lengthy and unpredictable sales cycles for new customers; nature of our business exposes us to inherent liability risks; our ability to attract, integrate and retain qualified personnel; our ability to maintain successful relationships with our channel partners and technology partners; our ability to manage our growth effectively; our ability to respond to competitive pressures; potential liability related to privacy and security of personally identifiable information; our ability to protect our intellectual property rights, and the other risks detailed in our risk factors discussed in filings with the U.S. Securities and Exchange Commission ("SEC"), including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 24, 2023 and other subsequent filings with the SEC. The forward-looking statements included in this press release represent our views as of the date of this press release. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.All Everbridge products are trademarks of Everbridge, Inc. in the USA and other countries. All other product or company names mentioned are the property of their respective owners.View source version on businesswire.com: https://www.businesswire.com/news/home/20230822498116/en/ContactsEverbridge Contacts: Jim GattaMedia [email protected] 215-290-3799Jeff YoungMedia [email protected] 781-859-4116

Business Wire

Everbridge Supports Research for "Creating Effective Warnings for All" at University College London (UCL) Conference

https://finance.yahoo.com/news/everbridge-supports-research-creating-effective-123000984.html

49115641-03bd-325c-8717-4dbc88f5520f

EVR

Evercore Inc EVR remains well poised for growth on the back of its efforts to boost client base in advisory solutions, diversify revenue sources and expand geographically. Further, strength in investment banking business will likely drive top-line growth. However, elevated expenses, competitive landscape and muted Investment Management segment’s revenues are key headwinds.The majority of Evercore’s revenues comes from its investment banking business. Though investment banking’s net revenues declined in the first half of 2023 and 2022, it witnessed a compound annual growth rate (CAGR) of 7.6% from 2018-2022. The metric is expected to weigh in 2023 due to lower global mergers and acquisitions, and underwriting activity on the back of macroeconomic and geopolitical concerns.Nonetheless, the company’s efforts to elevate its client base in advisory solutions, diversify revenue sources and expand footprints will aid the top line going forward.Evercore maintains a solid balance sheet and liquidity position. As of Jun 30, 2023, cash and cash equivalents were $520.6 million, and investment securities and certificates of deposit were $962.1 million. Total notes payable due were $373.6 million as of the same date. EVR seems well-positioned to meet its debt obligations, even if the economic situation worsens.Further, the company’s meaningful capital distribution efforts through regular dividend payments and share repurchases are likely to continue enhancing shareholders’ wealth.However, revenues generated by the Investment Management segment accounts for a smaller portion of Evercore's top line. Though segmental revenues increased marginally in the first half of 2023 on a year-over-year basis, it witnessed a negative CAGR of 1.2% over the last five years ended 2022. This was largely attributable to disposal and restructuring of several related units. Any change in the institutional assets under management trend due to foreign exchange fluctuations will likely lead to lower fees in the upcoming period.Story continuesEvercore continues to record a rise in expenses, witnessing a CAGR of 9.6% over the 2019-2022 period. In 2022 and the first six months of 2023, expenses decreased due to a decline in employee compensation and benefit expenses. Management expects the compensation ratio to remain elevated throughout 2023.Competition in the financial advisory market is fierce and forces companies to keep up with evolving trends. Evercore competes with other well-established financial institutions with better brand recognition and product diversification, which enhance their competitive position. Further, new entries into the market could create additional pricing and competitive pressures, which may affect its results.Analysts seem bearish regarding EVR’s earnings growth prospects. The Zacks Consensus Estimate for the company's 2023 earnings has been revised marginally downward over the past 30 days. The company currently carries a Zacks Rank #3 (Hold).Over the past six months, shares of EVR have gained 7.2% against the industry's decline of 10.6%. Zacks Investment ResearchImage Source: Zacks Investment Research Finance Stocks Worth a LookA couple of better-ranked stocks from the finance space are T.Rowe Price (TROW) and SEI Investments SEIC.T.Rowe currently sports a Zacks Rank #1 (Strong Buy). Its earnings estimates for 2023 has been revised 1.4% upward over the past 30 days. In the past three months, TROW’s shares have increased 0.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for SEI Investments’ current-year earnings has been revised marginally upward over the past 30 days. Its shares have gained 5.9% in the past three months. Currently, SEIC carries a Zacks Rank #2 (Buy).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 reportEvercore Inc (EVR) : Free Stock Analysis ReportSEI Investments Company (SEIC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Revenue Diversification to Aid Evercore (EVR) Amid Cost Woes

https://finance.yahoo.com/news/revenue-diversification-aid-evercore-evr-174600775.html

7fae768b-d585-3360-94d4-13ae05b72444

EVR

NEW YORK, September 07, 2023--(BUSINESS WIRE)--Evercore (NYSE: EVR) announced today that Giuseppe Monarchi and Laurence Hainault have joined the firm as senior managing directors to lead its Communications and Digital Infrastructure investment banking business in Europe, the Middle East and Africa. They are being joined at Evercore by Managing Director Francesco Gurrieri and a team of highly experienced telecom bankers.Mr. Monarchi will be based in London and comes to Evercore with over 30 years of advisory and investment banking leadership experience. Most recently, he served as the head of EMEA investment banking and capital markets at Credit Suisse, where he was also global head of media & telecom. Prior to that, he held multiple leadership roles within Credit Suisse's EMEA investment banking business. At Evercore, he will be part of the senior team focused on the continuing build-out of the business across EMEA. Mr. Monarchi earned a degree in business and economics from the University of Rome La Sapienza.Ms. Hainault, who will be based in Evercore's newly opened office in Paris, has more than 25 years of experience advising telecommunications and telecom infrastructure companies and funds at Credit Suisse and before that at DLJ in New York and London. Most recently, she served as a managing director and head of EMEA telecom for Credit Suisse based in Paris, where she was a driving force behind the establishment of its digital infrastructure advisory business. Ms. Hainault earned a Magistère in Bank, Finance & Insurance as well as a DEA in International Economics from University of Paris-IX Dauphine and a master’s in business law from Pantheon-Sorbonne University."Adding individuals of the calibre of Giuseppe and Laurence, along with their highly skilled team, exemplifies the firm’s commitment to building top-tier coverage in the most active and important sectors in our region," said Matthew Lindsey-Clark, CEO of EMEA Advisory.Story continues"We are delighted to join a firm with such commitment to client service and delivery of the highest-quality independent advice," said Mr. Monarchi. "We look forward to partnering with Evercore’s highly talented team of professionals and establishing a thriving telecom and digital infrastructure advisory practice in EMEA."Ms. Hainault said, "I am thrilled to be joining at the outset of Evercore’s new office in Paris and to become part of an exceptional firm with a deep dedication to client success and great momentum in this region."About EvercoreEvercore (NYSE: EVR) is a premier global independent investment banking advisory firm. We are dedicated to helping our clients achieve superior results through trusted independent and innovative advice on matters of strategic significance to boards of directors, management teams and shareholders, including mergers and acquisitions, strategic shareholder advisory, restructurings and capital structure. Evercore also assists clients in raising public and private capital, delivers equity research and equity sales and agency trading execution, and provides wealth and investment management services to high-net-worth and institutional investors. Founded in 1995, the firm is headquartered in New York and maintains offices and affiliate offices in major financial centers in the Americas, Europe, the Middle East and Asia. For more information, please visit www.evercore.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907772994/en/ContactsBusiness Contact: Matthew Lindsey-ClarkCEO, Global Advisory, [email protected] Contact: Jamie EastonHead of Communications & External [email protected] Dhond / Zach KouweDukas Linden Public [email protected] (646) 722-6531Investor Contact: Katy HaberHead of Investor Relations & [email protected]

Business Wire

Evercore Adds Giuseppe Monarchi and Laurence Hainault as Senior Managing Directors in its Communications and Digital Infrastructure Investment Banking Business

https://finance.yahoo.com/news/evercore-adds-giuseppe-monarchi-laurence-070000752.html

e668d86a-2a63-3265-83e4-6285f6257472

EVRG

Second Quarter 2023 GAAP EPS of $0.78, Compared to $0.84 in 2022Second Quarter 2023 Adjusted EPS (Non-GAAP) of $0.81, Compared to $0.84 in 2022Declares Quarterly Dividend of $0.6125 per share2023 GAAP EPS Guidance of $3.55 to $3.75; Reaffirms 2023 Adjusted EPS (Non-GAAP) Guidance of $3.55 to $3.75KANSAS CITY, Mo., August 04, 2023--(BUSINESS WIRE)--Evergy, Inc. (NASDAQ: EVRG) today announced second quarter 2023 GAAP earnings of $179.1 million, or $0.78 per share, compared to GAAP earnings of $194.5 million, or $0.84 per share, for second quarter 2022.Evergy’s second quarter 2023 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $186.1 million and $0.81, respectively, compared to $194.5 million and $0.84 in 2022. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) are reconciled to GAAP earnings in the financial table included in this release.Second quarter adjusted earnings (non-GAAP) per share were driven by higher weather-normalized demand, lower operations and maintenance expense, and higher transmission margin, partially offset by unfavorable weather compared to the corresponding period in the prior year, higher depreciation and amortization expense, and higher interest expense."We remain on track to meet our expectations for the year after delivering solid second quarter performance," said David Campbell, Evergy president and chief executive officer. "We'd like to thank the nearly 3,500 Evergy employees, contractors and personnel from neighboring utilities that assisted in making repairs, working with customers, and restoring power following the July 14 storms that produced 80-100 mph winds across our service territory - our most impactful storm event in recent history. Going forward, we remain laser-focused on executing our strategy of investing in beneficial infrastructure to drive continued improvement in affordability, reliability and sustainability for our customers and communities."Story continuesEarnings GuidanceThe Company reaffirmed its 2023 GAAP EPS guidance range of $3.55 to $3.75, along with its 2023 adjusted EPS (Non-GAAP) guidance range of $3.55 to $3.75. Additionally, the Company reaffirmed its long-term adjusted EPS (Non-GAAP) annual growth target of 6% to 8% through 2025 from the $3.30 midpoint of the original 2021 adjusted EPS (Non-GAAP) guidance range. Adjusted EPS (non-GAAP) guidance is reconciled to GAAP EPS guidance in the financial table included in this release.Dividend DeclarationThe Board of Directors declared a dividend on the Company’s common stock of $0.6125 per share payable on September 20, 2023. The dividends are payable to shareholders of record as of August 21, 2023.Earnings Conference CallEvergy management will host a conference call Friday, August 4, with the investment community at 9:00 a.m. ET (8:00 a.m. CT). To view the webcast and presentation slides, please go to investors.evergy.com. To access via phone, investors and analysts will need to register using this link where they will be provided a phone number and access code.Members of the media are invited to listen to the conference call and then contact Gina Penzig with any follow-up questions.This earnings announcement, a package of detailed first quarter financial information, the Company's quarterly report on Form 10-Q for the period ended June 30, 2023, and other filings the Company has made with the Securities and Exchange Commission are available on the Company's website at http://investors.evergy.com.Adjusted Earnings (non-GAAP) and Adjusted Earnings Per Share (non-GAAP)Management believes that adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are representative measures of Evergy's recurring earnings, assist in the comparability of results and are consistent with how management reviews performance. Evergy's adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) for the three months ended and year to date June 30, 2022 have been recast, as applicable, to conform to the current year presentation.Evergy's adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) for the three months ended and year to date June 30, 2023 were $186.1 million or $0.81 per share and $322.2 million or $1.40 per share, respectively. For the three months ended and year to date June 30, 2022, Evergy's adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) were $194.5 million or $0.84 per share and $324.4 million or $1.41 per share, respectively.In addition to net income attributable to Evergy, Inc. and diluted EPS, Evergy's management uses adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) to evaluate earnings and EPS without i.) the costs resulting from non-regulated energy marketing margins from the February 2021 winter weather event; ii.) gains or losses related to equity investments subject to a restriction on sale; iii.) the revenues collected from customers for the return on investment of the retired Sibley Station in 2022 for future refunds to customers; iv.) the mark-to-market impacts of economic hedges related to Evergy Kansas Central's non-regulated 8% ownership share of JEC; v.) costs resulting from advisor expenses; vi.) the transmission revenues collected from customers in 2022 through Evergy Kansas Central's FERC TFR to be refunded to customers in accordance with a December 2022 FERC order; and vii.) the second quarter 2023 deferral of the cumulative amount of prior year revenues collected since October 2019 for costs related to an electric subdivision rebate program to be refunded to customers in accordance with a June 2020 KCC order.Adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are intended to aid an investor's overall understanding of results. Management believes that adjusted earnings (non-GAAP) provides a meaningful basis for evaluating Evergy's operations across periods because it excludes certain items that management does not believe are indicative of Evergy's ongoing performance or that can create period to period earnings volatility.Adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are used internally to measure performance against budget and in reports for management and the Evergy Board. Adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are financial measures that are not calculated in accordance with GAAP and may not be comparable to other companies' presentations or more useful than the GAAP information provided elsewhere in this report.Evergy, IncConsolidated Earnings and Diluted Earnings Per Share(Unaudited)Earnings(Loss)Earnings (Loss)per Diluted ShareEarnings(Loss)Earnings (Loss)per Diluted ShareThree Months Ended June 3020232022(millions, except per share amounts)Net income attributable to Evergy, Inc.$179.1$0.78$194.5$0.84Non-GAAP reconciling items:Sibley Station return on investment, pre-tax(a)——(3.1)(0.01)Mark-to-market impact of JEC economic hedges, pre-tax(b)6.40.03——Non-regulated energy marketing costs related to February 2021winter weather event, pre-tax(c)0.1—0.3—Advisor expenses, pre-tax(d)——2.50.01Restricted equity investment losses, pre-tax(e)——2.10.01TFR refund, pre-tax(f)——(1.9)(0.01)Electric subdivision rebate program costs refund, pre-tax(g)2.60.01——Income tax expense (benefit)(h)(2.1)(0.01)0.1—Adjusted earnings (non-GAAP)$186.1$0.81$194.5$0.84Earnings(Loss)Earnings (Loss)per Diluted ShareEarnings(Loss)Earnings (Loss)per Diluted ShareYear to Date June 3020232022(millions, except per share amounts)Net income attributable to Evergy, Inc.$321.7$1.40$317.0$1.38Non-GAAP reconciling items:Sibley Station return on investment, pre-tax(a)——(6.2)(0.03)Mark-to-market impact of JEC economic hedges, pre-tax(b)(2.0)(0.01)——Non-regulated energy marketing costs related to February 2021 winter weather event, pre-tax(c)0.2—0.6—Advisor expenses, pre-tax(d)——2.50.01Restricted equity investment losses, pre-tax(e)——16.30.07TFR refund, pre-tax(f)——(3.8)(0.02)Electric subdivision rebate program costs refund, pre-tax(g)2.60.01——Income tax (benefit) expense (h)(0.3)—(2.0)—Adjusted earnings (non-GAAP)$322.2$1.40$324.4$1.41(a)Reflects revenues collected from customers for the return on investment of the retired Sibley Station in 2022 that are included in operating revenues on the consolidated statements of comprehensive income.(b)Reflects mark-to-market gains or losses related to forward contracts for natural gas and electricity entered into as economic hedges against fuel price volatility related to Evergy Kansas Central's non-regulated 8% ownership share of JEC that are included in operating revenues on the consolidated statements of comprehensive income.(c)Reflects non-regulated energy marketing incentive compensation costs related to the February 2021 winter weather event that are included in operating and maintenance expense on the consolidated statements of comprehensive income.(d)Reflects advisor expenses incurred associated with strategic planning and are included in operating and maintenance expense on the consolidated statements of comprehensive income(e)Reflects losses related to equity investments which were subject to a restriction on sale that are included in investment earnings on the consolidated statements of comprehensive income.(f)Reflects transmission revenues collected from customers in 2022 through Evergy Kansas Central's FERC TFR to be refunded to customers in accordance with a December 2022 FERC order that are included in operating revenues on the consolidated statements of comprehensive income.(g)Reflects the second quarter 2023 deferral of the cumulative amount of prior year revenues collected since October 2019 for costs related to an electric subdivision rebate program to be refunded to customers in accordance with a June 2020 KCC order that are included in operating revenues on the consolidated statements of comprehensive income.(h)Reflects an income tax effect calculated at a statutory rate of approximately 22%.GAAP to Non-GAAP Earnings GuidanceOriginal 2021Earnings per Diluted ShareGuidance2023Earnings per Diluted ShareGuidanceNet income attributable to Evergy, Inc.$3.14 - $3.34$3.55 - $3.75Non-GAAP reconciling items:Advisor expense, pre-tax(a)0.05-Executive transition cost, pre-tax(b)0.03-Income tax benefit(c)(0.02)-Adjusted earnings (non-GAAP)$3.20 - $3.40$3.55 - $3.75(a)Reflects our advisor expense incurred associated with strategic planning.(b)Reflects costs associated with certain executive transition costs at the Evergy Companies.(c)Reflects an income tax effect calculated at a statutory rate of approximately 26% with the exception of certain non-deductible items.About EvergyEvergy, Inc. (NASDAQ: EVRG), serves 1.7 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. Our focus remains on producing, transmitting and delivering reliable, affordable, and sustainable energy for the benefit of our stakeholders. Today, about half of Evergy’s power comes from carbon-free sources, creating more reliable energy with less impact to the environment. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe, diverse and inclusive workplace for our employees, and to add value for our investors. Headquartered in Kansas City, our employees are active members of the communities we serve.For more information about Evergy, visit us at http://investors.evergy.com.Forward Looking StatementsStatements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goals; the outcome of legislative efforts and regulatory and legal proceedings; future energy demand; future power prices; plans with respect to existing and potential future generation resources; the availability and cost of generation resources and energy storage; target emissions reductions; and other matters relating to expected financial performance or affecting future operations. Forward-looking statements are often accompanied by forward-looking words such as "anticipates," "believes," "expects," "estimates," "forecasts," "should," "could," "may," "seeks," "intends," "proposed," "projects," "planned," "target," "outlook," "remain confident," "goal," "will" or other words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information.In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc. (collectively the Evergy Companies) are providing a number of risks, uncertainties and other factors that could cause actual results to differ from the forward-looking information. These risks, uncertainties and other factors include, but are not limited to: economic and weather conditions and any impact on sales, prices and costs; changes in business strategy or operations; the impact of federal, state and local political, legislative, judicial and regulatory actions or developments, including deregulation, re-regulation, securitization and restructuring of the electric utility industry; decisions of regulators regarding, among other things, customer rates and the prudency of operational decisions such as capital expenditures and asset retirements; changes in applicable laws, regulations, rules, principles or practices, or the interpretations thereof, governing tax, accounting and environmental matters, including air and water quality and waste management and disposal; the impact of climate change, including increased frequency and severity of significant weather events and the extent to which counterparties are willing to do business with, finance the operations of or purchase energy from the Evergy Companies due to the fact that the Evergy Companies operate coal-fired generation; prices and availability of electricity and natural gas in wholesale markets; market perception of the energy industry and the Evergy Companies; the impact of future Coronavirus (COVID-19) variants on, among other things, sales, results of operations, financial condition, liquidity and cash flows, and also on operational issues, such as supply chain issues and the availability and ability of the Evergy Companies' employees and suppliers to perform the functions that are necessary to operate the Evergy Companies; changes in the energy trading markets in which the Evergy Companies participate, including retroactive repricing of transactions by regional transmission organizations (RTO) and independent system operators; financial market conditions and performance, current disruptions in the banking industry, including changes in interest rates and credit spreads and in availability and cost of capital and the effects on derivatives and hedges, nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of physical and cybersecurity breaches, criminal activity, terrorist attacks, acts of war and other disruptions to the Evergy Companies' facilities or information technology infrastructure or the facilities and infrastructure of third-party service providers on which the Evergy Companies rely; impact of the Russian, Ukrainian conflict on the global energy market, ability to carry out marketing and sales plans; cost, availability, quality and timely provision of equipment, supplies, labor and fuel; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; delays and cost increases of generation, transmission, distribution or other projects; the Evergy Companies' ability to manage their transmission and distribution development plans and transmission joint ventures; the inherent risks associated with the ownership and operation of a nuclear facility, including environmental, health, safety, regulatory and financial risks; workforce risks, including those related to the Evergy Companies' ability to attract and retain qualified personnel, maintain satisfactory relationships with their labor unions and manage costs of, or changes in, wages, retirement, health care and other benefits; disruption, costs and uncertainties caused by or related to the actions of individuals or entities, such as activist shareholders or special interest groups, that seek to influence Evergy's strategic plan, financial results or operations; the impact of changing expectations and demands of the Evergy Companies' customers, regulators, investors and stakeholders, including heightened emphasis on environmental, social and governance concerns; the possibility that strategic initiatives, including mergers, acquisitions and divestitures, and long-term financial plans, may not create the value that they are expected to achieve in a timely manner or at all; difficulties in maintaining relationships with customers, employees, regulators or suppliers; and other risks and uncertainties.This list of factors is not all-inclusive because it is not possible to predict all factors. You should also carefully consider the information contained in the Evergy Companies' other filings with the Securities and Exchange Commission (SEC). Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Evergy Companies with the SEC. Each forward-looking statement speaks only as of the date of the particular statement. The Evergy Companies undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230803457690/en/ContactsInvestor Contact: Pete FlynnDirector, Investor RelationsPhone: [email protected] Media Contact: Gina PenzigSr. Manager, Corporate CommunicationsPhone: [email protected] Media line: 888-613-0003

Business Wire

Evergy Announces Second Quarter 2023 Results, Declares Quarterly Dividend and Reaffirms 2023 Guidance

https://finance.yahoo.com/news/evergy-announces-second-quarter-2023-110000991.html

ce0e6a02-8986-39de-ab88-b0aa05708270

EVRG

Key InsightsInstitutions' substantial holdings in Evergy implies that they have significant influence over the company's share priceThe top 18 shareholders own 50% of the company Insiders have sold recently To get a sense of who is truly in control of Evergy, Inc. (NASDAQ:EVRG), it is important to understand the ownership structure of the business. We can see that institutions own the lion's share in the company with 84% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.Since institutional have access to huge amounts of capital, their market moves tend to receive a lot of scrutiny by retail or individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait.In the chart below, we zoom in on the different ownership groups of Evergy. See our latest analysis for Evergy ownership-breakdownWhat Does The Institutional Ownership Tell Us About Evergy?Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.Evergy already has institutions on the share registry. Indeed, they own a respectable stake in the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Evergy's historic earnings and revenue below, but keep in mind there's always more to the story.earnings-and-revenue-growthInvestors should note that institutions actually own more than half the company, so they can collectively wield significant power. Evergy is not owned by hedge funds. Our data shows that The Vanguard Group, Inc. is the largest shareholder with 13% of shares outstanding. For context, the second largest shareholder holds about 7.7% of the shares outstanding, followed by an ownership of 6.1% by the third-largest shareholder.Story continuesAfter doing some more digging, we found that the top 18 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company.While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.Insider Ownership Of EvergyWhile the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.Our most recent data indicates that insiders own less than 1% of Evergy, Inc.. As it is a large company, we'd only expect insiders to own a small percentage of it. But it's worth noting that they own US$52m worth of shares. Arguably recent buying and selling is just as important to consider. You can click here to see if insiders have been buying or selling. General Public OwnershipWith a 16% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Evergy. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.Next Steps:It's always worth thinking about the different groups who own shares in a company. But to understand Evergy better, we need to consider many other factors. For instance, we've identified 2 warning signs for Evergy (1 can't be ignored) that you should be aware of.If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

With 84% ownership, Evergy, Inc. (NASDAQ:EVRG) boasts of strong institutional backing

https://finance.yahoo.com/news/84-ownership-evergy-inc-nasdaq-112455189.html

0478e582-2274-3021-95ce-e86cb6cc8a64

EW

Edwards Lifesciences Corp (NYSE:EW) recently recorded a daily loss of 2.65% and a 3-month loss of 11.91% with an Earnings Per Share (EPS) of 2.26. This raises the question: is the stock significantly undervalued? In this article, we aim to provide a comprehensive valuation analysis of Edwards Lifesciences to answer this question. Let's delve into the financials and operations of the company to uncover its intrinsic value.A Brief Overview of Edwards LifesciencesWarning! GuruFocus has detected 2 Warning Sign with EW. Click here to check it out. EW 30-Year Financial DataThe intrinsic value of EWEdwards Lifesciences Corp (NYSE:EW), a spin-off from Baxter International in 2000, is a leading player in the medical devices and equipment industry. The company designs, manufactures, and markets a broad range of products for advanced stages of structural heart disease. Its key offerings include surgical tissue heart valves, transcatheter valve technologies, surgical clips, catheters, and monitoring systems used to measure a patient's heart function during surgery. Approximately 55% of its total sales are derived from outside the U.S.With a market cap of $45 billion and sales of $5.70 billion, Edwards Lifesciences' stock is currently trading at $74.07 per share. This is significantly lower than its Fair Value (GF Value) of $114.02, indicating that the stock might be undervalued.Edwards Lifesciences (EW): A Significantly Undervalued Gem?Understanding the GF ValueThe GF Value is a proprietary measure that reflects the current intrinsic value of a stock. It's derived from historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates. The GF Value Line provides an overview of the fair value that the stock should ideally trade at.Edwards Lifesciences (NYSE:EW) appears to be significantly undervalued according to the GF Value. The stock's fair value is estimated based on historical multiples, an internal adjustment based on the company's past business growth, and analyst estimates of future business performance. If the share price is significantly above the GF Value Line, the stock may be overvalued and have poor future returns. Conversely, if the share price is significantly below the GF Value calculation, the stock may be undervalued and have higher future returns.Story continuesGiven that Edwards Lifesciences is significantly undervalued, the long-term return of its stock is likely to be much higher than its business growth.Edwards Lifesciences (EW): A Significantly Undervalued Gem?Link: These companies may deliver higher future returns at reduced risk.Assessing Financial StrengthInvesting in companies with low financial strength could result in permanent capital loss. Therefore, it's crucial for investors to carefully review a company's financial strength before deciding whether to buy shares. Looking at the cash-to-debt ratio and interest coverage can provide a good initial perspective on the company's financial strength.Edwards Lifesciences has a cash-to-debt ratio of 2.21, which ranks worse than 50.66% of 835 companies in the Medical Devices & Instruments industry. Based on this, GuruFocus ranks Edwards Lifesciences's financial strength as 8 out of 10, suggesting a strong balance sheet.Edwards Lifesciences (EW): A Significantly Undervalued Gem?Evaluating Profitability and GrowthCompanies that have been consistently profitable over the long term offer less risk for investors who may want to purchase shares. Higher profit margins usually dictate a better investment compared to a company with lower profit margins. Edwards Lifesciences has been profitable 10 over the past 10 years. Over the past twelve months, the company had a revenue of $5.70 billion and Earnings Per Share (EPS) of $2.26. Its operating margin is 31.51%, which ranks better than 94.67% of 825 companies in the Medical Devices & Instruments industry. Overall, the profitability of Edwards Lifesciences is ranked 10 out of 10, indicating strong profitability.Growth is probably one of the most important factors in the valuation of a company. Edwards Lifesciences's 3-year average revenue growth rate is better than 52.14% of 725 companies in the Medical Devices & Instruments industry. Edwards Lifesciences's 3-year average EBITDA growth rate is 15.5%, which ranks better than 59.95% of 729 companies in the Medical Devices & Instruments industry.ROIC vs WACCAnother method of determining the profitability of a company is to compare its return on invested capital to the weighted average 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. When the ROIC is higher than the WACC, it implies the company is creating value for shareholders. For the past 12 months, Edwards Lifesciences's return on invested capital is 23.95, and its cost of capital is 10.59.Edwards Lifesciences (EW): A Significantly Undervalued Gem?ConclusionIn conclusion, the stock of Edwards Lifesciences appears to be significantly undervalued. The company's financial condition is strong, and its profitability is robust. Its growth ranks better than 59.95% of 729 companies in the Medical Devices & Instruments industry. If you're interested in learning more about Edwards Lifesciences 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

Edwards Lifesciences (EW): A Significantly Undervalued Gem?

https://finance.yahoo.com/news/edwards-lifesciences-ew-significantly-undervalued-233239950.html

3edf89b4-3e2e-3ba5-be54-1e276f48ef55

EW

Key InsightsUsing the 2 Stage Free Cash Flow to Equity, Edwards Lifesciences fair value estimate is US$74.88Current share price of US$74.07 suggests Edwards Lifesciences is potentially trading close to its fair valueOur fair value estimate is 22% lower than Edwards Lifesciences' analyst price target of US$95.88Does the September share price for Edwards Lifesciences Corporation (NYSE:EW) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by projecting its future cash flows and then discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model. View our latest analysis for Edwards Lifesciences Step By Step Through The CalculationWe use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:Story continues10-year free cash flow (FCF) forecast2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$1.48bUS$1.70bUS$1.79bUS$1.98bUS$2.12bUS$2.23bUS$2.33bUS$2.42bUS$2.50bUS$2.58bGrowth Rate Estimate SourceAnalyst x5Analyst x5Analyst x2Analyst x2Est @ 7.01%Est @ 5.55%Est @ 4.53%Est @ 3.82%Est @ 3.32%Est @ 2.97% Present Value ($, Millions) Discounted @ 6.6% US$1.4kUS$1.5kUS$1.5kUS$1.5kUS$1.5kUS$1.5kUS$1.5kUS$1.4kUS$1.4kUS$1.4k("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$15bWe now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. 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 6.6%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$2.6b× (1 + 2.2%) ÷ (6.6%– 2.2%) = US$59bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$59b÷ ( 1 + 6.6%)10= US$31bThe total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$46b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of US$74.1, the company appears about fair value at a 1.1% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.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. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own 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 Edwards Lifesciences 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 6.6%, which is based on a levered beta of 0.897. 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 Edwards LifesciencesStrengthDebt is not viewed as a risk.WeaknessEarnings declined over the past year.OpportunityAnnual revenue is forecast to grow faster than the American market.Good value based on P/E ratio and estimated fair value.ThreatAnnual earnings are forecast to grow slower than the American market.Next Steps:Whilst important, the DCF calculation ideally won't be the sole piece of analysis you scrutinize for a company. DCF models are not the be-all and end-all of investment valuation. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For Edwards Lifesciences, there are three additional factors you should consider:Financial Health: Does EW have a healthy balance sheet? Take a look at our free balance sheet analysis with six simple checks on key factors like leverage and risk.Future Earnings: How does EW's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NYSE every day. If you want to find the calculation for other stocks just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

A Look At The Fair Value Of Edwards Lifesciences Corporation (NYSE:EW)

https://finance.yahoo.com/news/look-fair-value-edwards-lifesciences-110018717.html

1fde7749-c6f6-32fb-bc3f-28c47201cd70

EWBC

Li Lu (Trades, Portfolio), a distinguished value investor known for his alignment with the investment philosophies of luminaries like Warren Buffett (Trades, Portfolio) and Charlie Munger (Trades, Portfolio), recently augmented his portfolio position with East West Bancorp Inc. (NASDAQ:EWBC).Warning! GuruFocus has detected 1 Warning Sign with EWBC. Click here to check it out. EWBC 30-Year Financial DataThe intrinsic value of EWBCWhen a seasoned investor of Li's caliber makes such a move, it naturally sparks intrigue. This discussion delves into an analysis of East West Bancorp to uncover the potential that has caught his attention.Core business model and its implicationsAt the core of East West Bancorps operations is a distinctive model that capitalizes on facilitating financial transactions and fostering investment flows between the West, notably the U.S., and the East, predominantly China. Its ability to operate on both sides of the Pacific Ocean and offer services tailored specifically to cross-border business activities affords the bank an exceptional competitive edge. This unique positioning is not without its challenges, particularly considering the ever-evolving geopolitics and intricate regulatory dynamics of the regions the company serves.As the world leans further into globalization, and as trade and commerce between the U.S. and China expand, East West Bancorp finds itself in an advantageous position. Nevertheless, the bank must remain vigilant. Abrupt policy shifts or escalating geopolitical tensions could alter its growth trajectory. Additionally, with the digital banking sector booming, there is an inherent need for East West to bolster its technological infrastructure to stay ahead of modern banking demands.Competitive landscape and moatIn the banking domain, competitive advantages often stem from factors like brand reputation, operational efficiency and distinct service offerings. East West Bancorp has uniquely carved its niche, boasting a bicultural and bilingual team that makes it the top choice for entities bridging the economies of the East and West. Its deep understanding of the U.S. and China markets, combined with its specialty in areas like foreign exchange and international trade finance, shields the company from direct competitors, ensuring it stands out in a saturated market.Story continuesHowever, the cornerstone of East Wests success lies in its community-focused approach. By immersing in local cultures and addressing distinct cultural nuances, it has built a foundation of trust. In banking, where trust is paramount, this commitment distinguishes it, underscoring the deep-rooted bond with its clientele.Future prospectsEast West Bancorp, uniquely positioned at the nexus of East and West, is primed to leverage the rapid shifts in the global financial arena. The banks significant growth potential is anchored in the surge of cross-border business, bolstered by its deep-rooted connections in both the U.S. and China. Concurrently, the pervasive wave of digital transformation in finance underscores the banks imperative to integrate digital banking and seek synergistic ties with fintech players, particularly those excelling in transnational transactions.Its dual engagement with the U.S. and Chinese economies introduces inherent risks, intensified by the volatile political and economic landscapes. Yet, East Wests storied experience equips it to pivot from these challenges to rewarding opportunities. Central to its long-term vision, a dedicated focus on community-driven initiatives and offerings for the Asian-American demographic solidifies its foundation and charts a path for enduring growth.Quantitative analysisEast West Bancorps price-earnings ratio stands at 6.09. This relatively low ratio, when compared to the industry average of 8.32, suggests the stock might be undervalued. A lower price-earnings ratio can indicate the stock is a potential opportunity for investors, especially if other financial metrics and qualitative factors align positively.The banks price-book ratio is 1.19. This ratio provides a snapshot of the companys valuation in relation to its net asset value. A price-book ratio closer to 1 suggests the market value is closely aligned with the book value of the company, indicating that East West's stock might be fairly valued.The debt-to-equity ratio stands at 0.74, which is exactly in line with the industry average. This parity with the industry suggests the companys financial leverage strategy is consistent with its peers. A ratio less than 1 indicates the company relies more on equity than debt to finance its assets, which can be seen as a positive sign for potential investors.Over the past decade, East West has showcased a commendable growth trajectory. The earnings per share have grown at a rate of 14.1% annually, indicating consistent profitability and operational efficiency.Furthermore, the book value per share has seen a growth rate of 10.80% during the same period. This steady rise underscores the banks ability to increase its net asset value, reflecting positively on its management and overall financial health.Potential reasons why Li sees promise in East West BancorpUpon analyzing East West Bancorp, several compelling reasons become evident as to why Li, a seasoned value investor, is showing such strong interest in the bank:Transpacific strategy: East West Bancorp capitalizes on a unique model catering to businesses between the U.S. and China, offering a notable competitive edge in todays globalized world.Solid financial metrics: With attractive price-earnings and price-book ratios and consistent growth in earnings and book value per share over the past decade, its financial health is evident.Strategic positioning: Navigating the complex U.S. and Chinese economies, the bank is poised to turn challenges into opportunities, backed by its rich experience.ConclusionEast West Bancorp, with its transpacific foundations and financial metrics, presents as a noteworthy consideration in the realm of value investing. Li's recent portfolio inclusion highlights this perspective. While the future carries inherent uncertainties for any entity, East West Bancorp stands as a representation of the considerations that value investors might evaluate.This article first appeared on GuruFocus.

GuruFocus.com

Why Li Lu Is Betting on East West Bancorp

https://finance.yahoo.com/news/why-li-lu-betting-east-035205329.html

a300e9db-9364-3bcc-9da8-68742eccb407

EWBC

Investors in East West Bancorp, Inc. EWBC need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 19, 2024 $25.00 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.What do the Analysts Think?Clearly, options traders are pricing in a big move for East West Bancorp shares, but what is the fundamental picture for the company? Currently, East West Bancorp is a Zacks Rank #3 (Hold) in the Banks - West industry that ranks in the Bottom 6% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while six analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from $2.15 per share to $2.02 in that period.Given the way analysts feel about East West Bancorp right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.Looking to Trade Options?Check out the simple yet high-powered approach that Zacks Executive VP Kevin Matras has used to close recent double and triple-digit winners. In addition to impressive profit potential, these trades can actually reduce your risk.Story continuesClick to see the trades now >>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 reportEast West Bancorp, Inc. (EWBC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Implied Volatility Surging for East West Bancorp (EWBC) Stock Options

https://finance.yahoo.com/news/implied-volatility-surging-east-west-124000433.html

a629773e-5cea-3691-981c-baa41d64070e

EXC

CHICAGO, September 06, 2023--(BUSINESS WIRE)--ComEd today announced that David R. Perez will assume the role of Executive Vice President and Chief Operating Officer of ComEd, effective January 1, 2024.Perez will succeed Terence Donnelly, who will be retiring at the end of the year after a successful career at ComEd and its sister company, PECO. As COO, Perez, a 28-year veteran of ComEd, will be responsible for running ComEd’s day-to-day operations and driving execution to ensure best-in-class utility service."In his distinguished career, Terry led the turnaround of ComEd’s performance, resulting in record-breaking reliability and vastly improved service for our customers; while he will be greatly missed, we wish him well in his retirement," said Gil Quiniones, ComEd CEO. "Dave has a track record of success across a number of departments, and I am confident that, under his leadership, ComEd will continue to deliver superior reliability and value to the 9 million people we’re privileged to serve."Perez currently serves as Senior Vice President of Distribution Operations, where he leads distribution operations for ComEd’s 11,400 square-mile service area, including emergency preparedness. In the role he held immediately prior, Perez served as Vice President of ComEd’s Transmission and Substation organization. He has also served as Vice President of Distribution Operations for ComEd’s Chicago and Maywood regions as well as Vice President for Work Management and New Business and held various managerial positions at ComEd.Perez earned a bachelor’s degree in electrical engineering from the University of Illinois at Chicago. He serves on the boards of the National Latino Education Institute, Chicago Commons and the University of Illinois at Chicago College of Engineering.ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 250 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230906365480/en/ContactsComEd Media Relations312-394-3500

Business Wire

David R. Perez Promoted to ComEd Chief Operating Officer

https://finance.yahoo.com/news/david-r-perez-promoted-comed-210000051.html

7d737339-5782-3dd8-a0e7-9c4559bd8aa2

EXC

Long-established in the Utilities - Regulated industry, Exelon Corp (NASDAQ:EXC) has enjoyed a stellar reputation. It has recently witnessed a surge of 2.33%, juxtaposed with a three-month change of 2.01%. However, fresh insights from the GuruFocus Score Rating hint at potential headwinds. Notably, its diminished rankings in financial strength, growth, and valuation suggest that the company might not live up to its historical performance. Join us as we dive deep into these pivotal metrics to unravel the evolving narrative of Exelon Corp.Warning! GuruFocus has detected 6 Warning Signs with EXC. Click here to check it out. EXC 30-Year Financial DataThe intrinsic value of EXCExelon Corp (EXC): A Deep Dive into Its Performance PotentialUnderstanding 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.1. Financial strength rank: 3/102. Profitability rank: 7/103. Growth rank: 2/104. GF Value rank: 3/105. Momentum rank: 5/10Based on the above method, GuruFocus assigned Exelon Corp the GF Score of 64 out of 100, which signals poor future outperformance potential.Exelon Corp: A Snapshot of Its BusinessExelon Corp, with a market cap of $40.59 billion, serves approximately 10 million power and gas customers at its six regulated utilities in Illinois, Pennsylvania, Maryland, New Jersey, Delaware, and Washington, D.C. The company has reported sales of $19.89 billion and an operating margin of 17.75%. Despite its significant presence in the industry, the company's financial strength, profitability, and growth metrics, as indicated by the GuruFocus Score Rating, highlight the firm's potential for underperformance.Story continuesExelon Corp (EXC): A Deep Dive into Its Performance PotentialFinancial Strength BreakdownExelon Corp's financial strength indicators present some concerning insights about the company's balance sheet health. The company's interest coverage ratio of 2.22 positions it worse than 75.12% of 426 companies in the Utilities - Regulated industry. This ratio highlights potential challenges the company might face when handling its interest expenses on outstanding debt. It's worth noting that the esteemed investor Benjamin Graham typically favored companies with an interest coverage ratio of at least five.The company's Altman Z-Score is just 0.73, which is below the distress zone of 1.81. This suggests that the company may face financial distress over the next few years. Additionally, the company's low cash-to-debt ratio at 0.01 indicates a struggle in handling existing debt levels. Furthermore, the company's debt-to-Ebitda ratio is 5.34, which is above Joel Tillinghast's warning level of 4 and is worse than 65.14% of 436 companies in the Utilities - Regulated industry. Tillinghast said in his book Big Money Think's Small: Biases, Blind Spots, and Smarter Investing that a high debt-to-Ebitda ratio can be a red flag unless tangible assets cover the debt.Growth ProspectsA lack of significant growth is another area where Exelon Corp seems to falter, as evidenced by the company's low Growth rank. The company's revenue has declined by -18.2 per year over the past three years, which underperforms worse than 97.08% of 480 companies in the Utilities - Regulated industry. Stagnating revenues may pose concerns in a fast-evolving market.Over the past five years, Exelon Corp has witnessed a decline in its earnings before interest, taxes, depreciation, and amortization (EBITDA). The three-year growth rate is recorded at -13.8, while the five-year growth rate is at -5.5. These figures underscore potential challenges in the company's profitability. Lastly, Exelon Corp predictability rank is just one star out of five, adding to investor uncertainty regarding revenue and earnings consistency.Exelon Corp (EXC): A Deep Dive into Its Performance PotentialConclusionDespite Exelon Corp's significant presence in the Utilities - Regulated industry, its financial strength, profitability, and growth metrics indicate potential underperformance in the future. The GuruFocus Score Rating, which takes into account these factors, underscores the firm's potential for underperformance. Therefore, investors should exercise caution when considering this stock for their portfolio.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

Exelon Corp (EXC): A Deep Dive into Its Performance Potential

https://finance.yahoo.com/news/exelon-corp-exc-deep-dive-170332851.html

ab4fbbff-290f-319e-bcf8-66c55bfea1db

EXEL

Exelixis (NASDAQ:EXEL) has had a great run on the share market with its stock up by a significant 15% over the last three months. But the company's key financial indicators appear to be differing across the board and that makes us question whether or not the company's current share price momentum can be maintained. In this article, we decided to focus on Exelixis' ROE.Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Put another way, it reveals the company's success at turning shareholder investments into profits. Check out our latest analysis for Exelixis How To Calculate Return On Equity?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 Exelixis is:6.5% = US$164m ÷ US$2.5b (Based on the trailing twelve months to June 2023).The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.06 in profit.What Has ROE Got To Do With Earnings Growth?We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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 Exelixis' Earnings Growth And 6.5% ROEWhen you first look at it, Exelixis' ROE doesn't look that attractive. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 20%. For this reason, Exelixis' five year net income decline of 26% is not surprising given its lower ROE. We reckon that there could also be other factors at play here. Such as - low earnings retention or poor allocation of capital.Story continuesThat being said, we compared Exelixis' performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 24% in the same 5-year period.past-earnings-growthEarnings growth is an important metric to consider when valuing a stock. 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. If you're wondering about Exelixis''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.Is Exelixis Making Efficient Use Of Its Profits?Exelixis doesn't pay any dividend, meaning that potentially all of its profits are being reinvested in the business, which doesn't explain why the company's earnings have shrunk if it is retaining all of its profits. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.ConclusionOverall, we have mixed feelings about Exelixis. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page 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.

Exelixis, Inc. (NASDAQ:EXEL) Is Going Strong But Fundamentals Appear To Be Mixed : Is There A Clear Direction For The Stock?

https://finance.yahoo.com/news/exelixis-inc-nasdaq-exel-going-144403992.html

c366b4a7-7679-34c6-9af1-21a26ef9f2bd

EXEL

It has been about a month since the last earnings report for Illumina (ILMN). Shares have lost about 14.2% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Illumina due for a breakout? 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 drivers.Illumina Q2 Earnings Top Estimates, Margins DipIllumina Inc. reported adjusted earnings per share of 32 cents in the second quarter of 2023, beating the Zacks Consensus Estimate of 2 cents by a remarkable margin. However, the bottom line declined 43.9% from the year-ago quarter’s earnings of 57 cents.The adjustments exclude the impact of GRAIL pre-acquisition net operating losses on GILTI, the utilization of U.S. foreign tax credits and incremental non-GAAP tax expenses, among others. Including one-time items, the company’s GAAP loss per share was $1.48 compared with the year-ago quarter’s loss of $3.40.RevenuesIn the quarter under review, Illumina’s revenues were $1.18 billion, up 1.1% year over year (up 3% at CER). The top line beat the Zacks Consensus Estimate by 1.1%.Segment DetailsPost the acquisition of GRAIL on Aug 18, 2021, Illumina has two reportable segments — Core Illumina and GRAIL.Core Illumina revenues were flat year over year (up 2% at the constant exchange rate or CER) to $1.16 billion. Core Illumina Sequencing Consumable revenues totaled $739 million in the reported quarter, down 1% year over year. Our model projected Core Illumina revenues of $1.18 billion for Q2.Sequencing Instrument revenues for Core Illumina of $193 million grew 2% year over year. The increase was partially led by strength in NovaSeq X shipments. Core Illumina sequencing service and other revenues were $134 million (up 7% year over year). Higher instrument service contract revenues drove the upside on a growing installed base.Story continuesGRAIL contributed $22 million to revenues during the reported quarter compared with $12 million in the year-ago period. Our model projected GRAIL revenues of $26.5 million for the second quarter.MarginsThe adjusted gross margin (excluding amortization of acquired intangible assets) was 66.3% in the reported quarter, highlighting a contraction of 312 basis points (bps) year over year. The decline is attributed to lower fixed-cost leverage on reduced manufacturing volumes and lower instrument margins due to the NovaSeq X launch, as expected for a new platform introduction.R&D expenses increased 9.5% year over year to $358 million, whereas SG&A expenses rose 9.8% to $450 million. These pulled up adjusted operating costs by 9.6% to $808 million.The adjusted operating loss in the quarter was $28 million against the prior-year quarter’s adjusted operating income of $70 million.Financial UpdateIllumina exited the second quarter of 2023 with cash and cash equivalents plus short-term investments of $1.56 billion compared with $1.55 billion at the end of first-quarter 2023. The company did not repurchase any common stock in the quarter.Cumulative net cash provided by operating activities at the end of the second quarter of 2023 was $115 million compared with $297 million a year ago.2023 GuidanceIllumina updated its 2023 outlook.The company expects fiscal 2023 consolidated revenue growth to be 1% (the earlier guidance was -10% year over year). The Zacks Consensus Estimate for the same is currently pegged at $4.92 billion.The adjusted earnings per share for 2023 is expected in the range of 70 cents-90 cents (the previous guidance was $1.25-$1.50). The Zacks Consensus Estimate for the same is currently pegged at $1.36.Core Illumina revenue growth is now expected to be flat (the earlier guidance  was 6-9% year over year). GRAIL revenues are anticipated to be between $90 and $110 million (unchanged from the outlook provided in the last reported earnings update).Key AnnouncementsThroughout the second quarter, Illumina headlined on many occasions. During the quarter, the company launched DRAGEN 4.2, which expands upon award-winning accuracy combined with renowned flexibility and scalability to enable efficient workflows and extract meaningful insights from genomic data.ILMN entered into a strategic partnership with Pillar Biosciences to make Pillar's suite of oncology assays commercially available globally as part of the Illumina portfolio of oncology products.The company also unveiled PrimateAI-3D, an artificial intelligence (AI) algorithm that predicts with unprecedented accuracy disease-causing genetic mutations in patients.Within GRAIL, the company announced results from the prospective SYMPLIFY study, showing strong performance of Galleri in the symptomatic population of more than 6,000 patients and demonstrated the feasibility of using a Multi-Cancer Early Detection (MCED) test to assist clinicians with decisions regarding referral from primary care.How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.The consensus estimate has shifted -66.85% due to these changes.VGM ScoresCurrently, Illumina has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% 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. It's no surprise Illumina has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.Performance of an Industry PlayerIllumina belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Exelixis (EXEL), has gained 4.1% over the past month. More than a month has passed since the company reported results for the quarter ended June 2023.Exelixis reported revenues of $469.85 million in the last reported quarter, representing a year-over-year change of +12%. EPS of $0.31 for the same period compares with $0.22 a year ago.For the current quarter, Exelixis is expected to post earnings of $0.26 per share, indicating a change of -16.1% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Exelixis. 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 reportIllumina, Inc. (ILMN) : Free Stock Analysis ReportExelixis, Inc. (EXEL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Illumina (ILMN) Down 14.2% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/illumina-ilmn-down-14-2-153030037.html

7124dd77-ea29-399e-90f3-172347da6d44

EXP

In the latest trading session, Eagle Materials (EXP) closed at $183.78, marking a -0.15% move from the previous day. This change was narrower than the S&P 500's 0.7% loss on the day. At the same time, the Dow lost 0.57%, and the tech-heavy Nasdaq lost 1.06%.Coming into today, shares of the maker of gypsum wallboard and cement had lost 2.88% in the past month. In that same time, the Construction sector lost 3.12%, while the S&P 500 gained 0.58%.Eagle Materials will be looking to display strength as it nears its next earnings release. On that day, Eagle Materials is projected to report earnings of $4.18 per share, which would represent year-over-year growth of 12.37%. Our most recent consensus estimate is calling for quarterly revenue of $632.21 million, up 4.49% from the year-ago period.EXP's full-year Zacks Consensus Estimates are calling for earnings of $13.92 per share and revenue of $2.25 billion. These results would represent year-over-year changes of +11.09% and +4.74%, respectively.Any recent changes to analyst estimates for Eagle Materials should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.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. The Zacks Consensus EPS estimate has moved 0.18% higher within the past month. Eagle Materials is currently sporting a Zacks Rank of #3 (Hold).In terms of valuation, Eagle Materials is currently trading at a Forward P/E ratio of 13.23. Its industry sports an average Forward P/E of 19.33, so we one might conclude that Eagle Materials is trading at a discount comparatively.Story continuesThe Building Products - Concrete and Aggregates industry is part of the Construction sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow EXP 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 reportEagle Materials Inc (EXP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Eagle Materials (EXP) Stock Moves -0.15%: What You Should Know

https://finance.yahoo.com/news/eagle-materials-exp-stock-moves-220018775.html

0bbe9d83-7e7f-3eb3-a2cc-430dd870a9b1

EXP

In this article, we discuss long-term returns of Scott Ferguson's activist targets. If you want to see more stocks in this selection, check out Long Term Returns of Scott Ferguson's 5 Activist Targets.Scott Ferguson is a portfolio manager who has perfected the art of leveraging value-oriented strategies to reap substantial returns while investing. A protégé of renowned activist investor Bill Ackman, Ferguson has risen up the ranks to become one of the most respected value-oriented investors on Wall Street. The founder and managing partner at Sachem Head Capital specializes in investing in undervalued and underperforming companies.Founded in 2012, Sachem Head Capital had about $3.9 billion in assets under management as of the beginning of 2023 and has been one of the best-performing hedge funds with a portfolio gain of 102.14%.Ferguson has made a name for himself as an aggressive, active investor focused on pursuing strategic initiatives to unlock underlying value. The hedge fund manager often seeks board representation, influence, and operational improvements in companies he gets involved in. He is also on record calling for capital allocation changes and pushing for mergers and acquisitions if they have the potential to unlock hidden value.Long Term Returns of Scott Ferguson's Activist TargetsOur MethodologyFerguson has been engaged in various proxy battles with multiple companies' boards, all in the effort of unlocking value. We have analyzed some of the biggest plays and strategies the activist investor pursued to unlock shareholder value.Long-Term Returns of Scott Ferguson Activist Targets13. CDK Global Inc (NASDAQ:CDK)Activist Investment: 2014 Long Term Returns Since Ferguson's Investment: 58% S&P 500 Gain Since Ferguson's Investment: 130%CDK Global Inc. (NASDAQ:CDK) is a leading retail technology provider and software as service solutions. The company offers solutions that help dealers and auto manufacturers run their businesses more efficiently to drive profitability and create frictionless purchasing. In 2014, Sachem Head Capital took out a 7.88% stake in the company, insisting that the stock was undervalued and was an attractive investment.Story continuesThe activist investor also reiterated it planned to hold discussions with the board of directors and stockholders on issues including governance and board composition. It also planned to discuss management operations capitalization and financial condition.12. Zoetis Inc. (NYSE:ZTS) Activist Investment: 2014 Long Term Returns Since Ferguson's Investment: 64% S&P 500 Gain Since Ferguson's Investment: 16%Zoetis Inc. (NYSE:ZTS) is a leading player in the drug manufacturing industry, specializing in discovering, manufacturing, and commercializing animal health medicines, vaccines, and diagnostic products. The company commercializes products across species, including livestock, cattle, swine, poultry, fish, sheep, etc.In 2014, Sachem Head Capital teamed up with Pershing Square Capital Management, headed by Bill Ackman, to acquire an 8.5% stake in Zoetis. The investment came from the strong belief that the company had a strong product portfolio and a significant market opportunity but needed to cut costs and explore strategic alternatives.Following the investment, the two activist investors nominated four directors for the company's board. In addition, the company agreed to cut $500 million in operating costs and increased its share buyback authorization following mounting pressure from activist investors. Zoetis Inc. (NYSE:ZTS) also agreed to review its business portfolio.In 2016, Zoetis confirmed it had achieved its cost-cutting targets ahead of schedule and would continue to invest in growth. Nevertheless, Zoetis Inc. (NYSE:ZTS) decided to retain its core business of livestock and animal health.11. Autodesk, Inc. (NASDAQ:ADSK) Activist Investment: 2015 Long Term Returns Since Ferguson's Investment: 40% S&P 500 Gain Since Ferguson's Investment: 7.8%Autodesk, Inc. (NASDAQ:ADSK) is a company that provides 3D design, engineering, and entertainment technology solutions. The company is best known for offering AutoCAD Civil, a surveying design analysis and documentation solution for civil engineering. In 2015, the company was targeted by activist investor Ferguson, who acquired a 5.7% stake.10. Whitbread plc (LSE:WTB.L)Activist Investment: 2017 Long Term Returns Since Ferguson's Investment: 3.2% S&P 500 Gain Since Ferguson's Investment: 96.3%Whitbread is a British company that operates hotels and restaurants worldwide. It operates restaurants under the Brewers Fayre Beefeater, Cookhouse & Pub, and Bar+Block Steakhouse brands. The stock jumped the most in more than eight years after Sachem Head Capital took a 3.4% stake in the company.With Sachem Head Capital, speculation was rife that the company would be forced to pursue strategic alternatives to unlock shareholders' value. Top on the list was the sale of Costa Coffee and the leaseback of assets.The company would bow to pressure and announced that it would pursue the spinoff of its Costa Coffee unit in 2018, therefore providing investors with investments in two distinct businesses. The breakup of the Costa Coffee unit from the hotels and restaurant business was seen as one of the best options for boosting the value of the individual businesses.9. 2U, Inc. (NASDAQ:TWOU)Activist Investment: 2019 Long Term Returns Since Ferguson's Investment: -65% S&P 500 Gain Since Ferguson's Investment: -4.24%2U, Inc. (NASDAQ:TWOU) is an online education platform that operates through Degree Programs and Alternative Credential segments. It provides colleges and universities with technology and services that allow them to offer degree programs online. Sachem Head Capital started building a position in the education software provider in 2019.With the investment, the activist investor started pushing the company to explore strategic alternatives, including a complete sale. The hedge fund insisted that the company, which helps universities launch online master's degree programs, would be a perfect takeover target of private equity firms or other education technology companies.Despite facing governance issues, Sachem Head believed the company was a top provider in the space with a high-quality portfolio of academic partners, including Yale University. The activist investor exited its position in 2U, Inc. (NASDAQ:TWOU) in 2020.8. Instructure Holdings, Inc. (NYSE:INST)Activist Investment: 2019 Long Term Returns Since Ferguson's Investment: 22.5% S&P 500 Gain Since Ferguson's Investment: 20%Instructure Holdings, Inc. (NYSE:INST) is an education software company specializing in delivering dynamic learning experiences to students across the globe. It operates as an education technology company focused on elevating student success. The company was the subject of activist investor pressure in 2019 after Ferguson, through Sachem Head Capital, confirmed a 7% stake in the company and confirmed plans to push for strategic alternatives, including the sale of the business.The activist investor hedge fund, which had been accumulating stakes in the company, pushed for a full sale process seen as the only way of unlocking value at the time. The hedge fund believed Instructure Holdings, Inc. (NYSE:INST) could generate interest among private equity and publicly traded companies.The company behind the Canvas learning management software, which is widely used by schools and colleges, went private in 2020 after a $2 billion deal with Thoma Bravo, a private equity firm.7. Eagle Materials Inc. (NYSE:EXP)Activist Investment: 2019 Long Term Returns Since Ferguson's Investment: 173% S&P 500 Gain Since Ferguson's Investment: 72%Eagle Materials Inc. (NYSE:EXP) is a leading manufacturer of basic construction materials used for residential, commercial infrastructure, and energy applications. It operates under four segments: of Cement Concrete Gypsum Wallboard and Recycled Paperboard. Sachem Head Capital took a 9% stake in the company in 2019 and consequently nominated two directors to the board.6. Olin Corporation (NYSE:OLN) Activist Investment: 2020 Long Term Returns Since Ferguson's Investment: 292% S&P 500 Gain Since Ferguson's Investment: 78.81%Olin Corporation (NYSE:OLN) is a company engaged in the manufacturing and distributing chemical products and ammunition. Its chemical products include chlorine, caustic soda epoxy, hydrochloric acid, and bleach. Activist investment firm Sachem Head Capital started building positions in the company in 2020 and outlined plans to nominate four directors. In regulatory filings, it revealed owning 14.95 million shares or a 9.4% stake in the company.In addition, Ferguson said they are focused on engaging management and shareholders on issues related to business management, operations, assets capitalization, and financial condition. The activist investor also planned to explore strategic plans and board composition. Ferguson got a seat on the board and engineered the appointment of a new CEO, Scott Sutton, who helped turn around Olin Corporation (NYSE:OLN)'s fortunes.Ferguson resigned from the board at the end of 2022, insisting he had served with a talented management team and navigated COVID successfully. He touted his tenure on the board as a great success with remarkable turnaround and creating extraordinary value for shareholders. Click to continue reading and see Long Term Returns of Scott Ferguson's 5 Activist Targets. Suggested articles:12 States With The Largest Refining CapacityGoldman Sachs Defense Stocks: Top 10 Stock Picks15 Countries That Produce the Most E-waste in the WorldDisclosure: None. Long-Term Returns of Scott Ferguson Activist Targets is originally published on Insider Monkey.

Insider Monkey

Long-Term Returns of Scott Ferguson Activist Targets

https://finance.yahoo.com/news/long-term-returns-scott-ferguson-110104603.html

456690d4-650f-3589-876a-be6bfe6c372d

EXPD

Twilio upgraded, Sealed Air downgraded: Wall Street's top analyst callsThe most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly. Top 5 Upgrades:Argus upgraded Twilio (TWLO) to Buy from Hold with a $72 price target. The company is positioned for revenue and adjusted earnings growth as its core Communications business revives and as its Data & Applications business recovers, the analyst tells investors in a research note. [read more]Evercore ISI upgraded Pinnacle West (PNW) to In Line from Underperform with an unchanged price target of $78. The 9.55% allowed return on equity that Tucson was granted bodes well for Pinnacle and foreshadows a situation where the company could be granted an allowed ROE in the 9.60%-9.75% range, the analyst says. [read more]TD Cowen upgraded Cogent Communications (CCOI) to Outperform from Market Perform with a price target of $85, up from $65. The company has an "underappreciated opportunity" to capture a portion of the lucrative $2B-plus wavelength market, the firm says. [read more]Exane BNP Paribas upgraded Rivian Automotive (RIVN) to Outperform from Neutral with a $30 price target. [read more]Credit Suisse upgraded Himax (HIMX) to Outperform from Neutral with a price target of $8, up from $7. Q2 EPS were ahead of expectations and although Q3 was guided to be "softer," there is "recovery in sight" with management guiding for second half sales to be better than the first half, which suggests Q3 is the trough and Q4 should rebound on a sequential basis, the analyst tells investors. [read more]Top 5 Downgrades:UBS downgraded Sealed Air (SEE) to Neutral from Buy with a price target of $44, down from $54. The analyst believes the company's return to growth will take longer to play out. [read more]Raymond James downgraded Medical Properties Trust (MPW) to Underperform from Strong Buy without a price target. Improving operator fundamentals "have been the lone positive" in recent quarters, but have been more than overshadowed by "growing questions" surrounding management communication, credibility, disclosure transparency, operator health, corporate governance, leverage, and dividend sustainability, the analyst tells investors in a research note. [read more] Medical Properties Trust also was downgraded to Underperform from Neutral at BofA. [read more] Wolfe Research downgraded Forward Air (FWRD) to Underperform from Peer Perform with an $80 price target after the company announced the $3.2B acquisition of Omni Logistics. Forward expects strong cash earnings accretion by year two, but material earnings dilution in 2024 is likely along with a "big increase" in balance sheet leverage, the analyst says. [read more] Forward was also downgraded at Raymond James [read more] and Stifel [read more].BofA double downgraded Triumph Group (TGI) to Underperform from Buy with a price target of $8, down from $19. The portfolio turnaround is now complete, but investors are waiting for the financial turnaround, which the firm argues is "not feasible until we see a significant operational turnaround." [read more]Oppenheimer downgraded Marinus Pharmaceuticals (MRNS) to Perform from Outperform with a price target of $9, down from $14. Oppenheimer's cautious view is based on repeated delays to topline results since 1H22, the latest delay following high confidence expressed around interim timing and potentially positive results, significantly higher screen failure rates, and slower-than-expected enrollment despite the relaxed requirement for baseline seizure burden. [read more]Story continuesTop 5 Initiations: JPMorgan initiated coverage of MSG Entertainment (MSGE) with a Neutral rating and $38 price target. The firm expects the company to benefit from structural tailwinds across the concerts industry, but says these opportunities come with execution risk. [read more]Guggenheim initiated coverage of CymaBay (CBAY) with a Buy rating and $20 price target. CymaBay has generated a comprehensive dataset for lead asset seladelpar in primary biliary cholangitis, or PBC, that support a strong clinical profile and give it the "potential for PBC market leadership," the analyst tells investors. [read more]William Blair initiated coverage of Hippo (HIPO) with a Market Perform rating and no price target. The company has good growth story and should benefit from the homeowners insurance industry expansion, but "more consistent resilience" against the risks that are facing the industry needs to be displayed before confidence can be had in the stock's ability to outperform, the analyst tells investors in a research note. [read more]Piper Sandler initiated coverage of Procept BioRobotics (PRCT) with an Overweight rating and $42 price target. The company has developed and commercialized its AquaBeam robotic system that "addresses many of the shortcomings" of alternative surgical interventions in benign prostatic hyperplasia through the use of aquablation therapy, the analyst tells investors in a research note. [read more]JPMorgan initiated coverage of Expeditors (EXPD) with an Underweight rating and $110 price target. Ocean and airfreight rates are well below the pandemic peak, but additional capacity and competition will create a deeper earnings trough in 2024 than expected, says the analyst. [read more]

The Fly

Twilio upgraded, Sealed Air downgraded: Wall Street's top analyst calls

https://finance.yahoo.com/news/twilio-upgraded-sealed-air-downgraded-133642161.html

43f2e47e-b566-37c6-9bd0-5b8c0309d359

EXPD

It has been about a month since the last earnings report for Expeditors International (EXPD). Shares have lost about 1.5% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Expeditors International 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 catalysts.Earnings Miss at Expeditors in Q2Expeditors' second-quarter 2023 earnings of $1.30 per share fell short of the Zacks Consensus Estimate of $1.34. Moreover, the bottom line plunged 42.7% year over year. Total revenues of $2,239.8 million lagged the Zacks Consensus Estimate of 2,878.8 million and decreased 51.3% year over year. Results were hurt by the lackluster demand scenario.A dip in volumes also played spoilsport. Airfreight tonnage and ocean container volumes tumbled 15% and 13% year over year, respectively. Operating income declined 51% to $278 million. Total operating expenses fell 51% to $1.99 billion.Airfreight services revenues decreased 53% year over year to $525 million in the second quarter of 2023. Ocean freight and ocean services revenues fell 66.2% to $593.8 million. Customs brokerage and other services revenues declined 27.9% year over year to $894.8 million.In the reported quarter, EXPD repurchased 6 million shares at an average price of $114.61 per share. Expeditors also pays dividends of 69 cents per share on a semi-annual basis. It exited the June-end quarter with cash and cash equivalents of $1.69 billion compared with $2.03 billion at 2022 end.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.VGM ScoresCurrently, Expeditors International has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.Story continuesOverall, the stock has an aggregate VGM Score of B. 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, Expeditors International 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 reportExpeditors International of Washington, Inc. (EXPD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Expeditors International (EXPD) Down 1.5% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/expeditors-international-expd-down-1-153053195.html

5435ed46-fb56-3315-8a50-635ef8d60497

EXPE

Value-focused investors are constantly seeking stocks that are priced below their intrinsic value. One such stock that merits attention is Expedia Group Inc (NASDAQ:EXPE). Currently priced at $109.8, the stock recorded a daily gain of 3.82% and a 3-month increase of 2.06%. The stock's fair valuation is $180.91, as indicated by its GF Value.Understanding GF ValueWarning! GuruFocus has detected 4 Warning Signs with EXPE. Click here to check it out. EXPE 30-Year Financial DataThe intrinsic value of EXPEThe GF Value represents the current intrinsic value of a stock derived from our exclusive method. The GF Value Line on our summary page provides an overview of the fair value that the stock should be traded at. It is calculated based on historical multiples, GuruFocus adjustment factor, and future estimates of business performance.We believe the GF Value Line is 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.Is Expedia Group (EXPE) Too Good to Be True? A Comprehensive Analysis of a Potential Value TrapDeeper Analysis: Unveiling The RisksDespite its seemingly attractive valuation, certain risk factors associated with Expedia Group Inc (NASDAQ:EXPE) should not be ignored. These risks are primarily reflected through its low Altman Z-score of 0.89. This indicator suggests that Expedia Group, despite its apparent undervaluation, might be a potential value trap. This complexity underlines the importance of thorough due diligence in investment decision-making.Decoding the Altman Z-ScoreBefore delving into the details, let's understand what the Altman Z-score entails. The Z-Score is a financial model that predicts the probability of a company entering bankruptcy within a two-year time frame. It combines five different financial ratios, each weighted to create a final score. A score below 1.8 suggests a high likelihood of financial distress, while a score above 3 indicates a low risk.Story continuesCompany Snapshot: Expedia Group Inc (NASDAQ:EXPE)Expedia is the world's second-largest online travel agency by bookings, offering services for lodging, air tickets, rental cars, cruises, and more. It has also expanded into travel media with the acquisition of Trivago. Transaction fees for online bookings account for the bulk of sales and profits. The stock price currently fluctuates around the GF Value Line, indicating its potential fair value.Is Expedia Group (EXPE) Too Good to Be True? A Comprehensive Analysis of a Potential Value TrapBreaking Down Expedia Group's Low Altman Z-ScoreA dissection of Expedia Group's Altman Z-score reveals that the company's financial health may be weak, suggesting possible financial distress:Conclusion: Navigating the Value TrapDespite its attractive valuation, the low Altman Z-Score and potential financial distress suggest that Expedia Group might be a value trap. This underlines the importance of comprehensive analysis and due diligence before making investment decisions.GuruFocus Premium members can find stocks with high Altman Z-Score using the following Screener: Walter Schloss Screen .This article first appeared on GuruFocus.

GuruFocus.com

Is Expedia Group (EXPE) Too Good to Be True? A Comprehensive Analysis of a Potential Value Trap

https://finance.yahoo.com/news/expedia-group-expe-too-good-233146949.html

6d8bf978-3aff-31db-af60-e2788914dd75

EXPE

In this piece, we will take a look at ten travel stocks billionaires are loading up on. If you want to skip our analysis of the recent events in the travel industry, then take a look at 5 Travel Stocks Billionaires Are Loading Up On. The travel industry has seen disruption in one form or the other over the past four years, and a tough economic environment after the coronavirus pandemic has hampered recovery. Some sectors, such as airlines that were forced to fly routes just to keep them running and cruise companies that saw ships stranded at ports, faced crises that perhaps few would believe were possible before they happened.Like the broader economy, such as industrial production and logistics, the global benchmark crude oil prices determine the ease of the cost of doing business for travel companies as well. These prices have been fluctuating since the start of 2022 and after a respite earlier this year as oil investors remained optimistic about sufficient demand for their products, the latter half of 2023 is seeing oil prices soar again. A big reason behind the high oil prices is the need for oil producing countries to balance their budgets as demand expectations from China start to wither down. The world's second largest economy in nominal terms and the biggest in purchasing power parity is dealing with a set of problems that are worrying investors.The travel industry depends on discretionary income, and recent trends indicate that consumers might start having less of this since gas prices in America have risen. To understand the impact that all these events have made, consider the story of Expedia Group, Inc. (NASDAQ:EXPE). Ever since inflation started to rise in early 2022, Expedia's shares started on a downward run. These troubles are also visible when looking at the stock of Airbnb, Inc. (NASDAQ:ABNB). While the stock has still performed better than Expedia, the shares nevertheless have posted a 4.72% gain over the past five years. During the same time period, the S&P 500 is up by a strong 53%, gains that outpace the return offered by major airlines such as Delta Air Lines, Inc. (NYSE:DAL) (down 29.54%) and American Airlines Group Inc. (NASDAQ:AAL) (down 64.82%).Story continuesThe turmoil faced by the airlines and the hospitality firms is nothing when we take a look at cruise ship operators. Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) still haven't recovered from the coronavirus-induced sell off, and are down 24.7% over the past five years. However, if you think this is bad, then you'd be glad you hadn't bought Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in 2020 since its stock is down by a stunning 70% over the past five years. We've covered the shock to the cruise ship industry in detail as part of our coverage of 10 Best Cruise Stocks To Buy Now so check it out if you want to see just how bad things were for the companies, their employees, and the travelers stuck on vessels.Yet, even though the travel industry is down, it doesn't mean it's dusted for. The global economy should recover at some point in time, even as China struggles to move to pre-coronavirus levels and Europe - led by Germany - struggles to find economic stability. International tourism is expected to touch 95% of pre-pandemic levels this year, and Europe is one of the regions that is leading the recovery. Data from the United Nations' World Tourism Organization (WTO) shows that while international tourism had recovered to 65% of pre pandemic levels in 2022, the European sector had recovered to 80% and Western Europe to 87%.This recovery is also affecting the ticket prices between Europe and the U.S. Combined with high fuel prices, airlines and other firms have to scale up their operations as product demand increases. This scaling costs money, which is why prices go up during periods of high demand. As to what the situation in the industry was as the second half of 2023 kicked off, here's what the management of American Express Company (NYSE:AXP) had to say during the firm's second quarter of 2023 earnings call:We continue to see strong growth in Travel and Entertainment spending, which increased by double-digits in the quarter and remains strong across customer categories and geographies. Q2 was a record quarter for restaurant reservations through our Resy platform and bookings through our consumer travel business reached their highest levels since before the pandemic.. . . And look, I mean, just look at consumer, right? I mean consumer in the U.S. is up at 10%. T&E is still very, very strong. We talked about travel bookings, travel bookings more than one month out are higher than they’ve been pre-pandemic. They are higher than they were at this time last year. They were higher than they were, obviously, in 2019. International is really coming back strong for us. And as we said, it’s a fastest growing part of our business. And the other thing I’ll point out is you just had — you had a little hangover of noise from Omicron in this quarter because last year, you had a little bit of spending that was pushed from the first quarter to the second quarter. And if you look at — if you go back and look sequentially last year was a huge increase sequentially quarter-over-quarter.So, with these details in mind, we decided to take a look at which travel stocks billionaires are buying. Some top stock picks are Expedia Group, Inc. (NASDAQ:EXPE), Airbnb, Inc. (NASDAQ:ABNB), and Booking Holdings Inc. (NASDAQ:BKNG).Travel Stocks Billionaires Are Loading Up OnPhoto by Artur Voznenko on UnsplashOur Methodology To compile our list of travel stocks being bought by billionaires, we first compiled a list of the largest companies categorized as travel services by Yahoo Finance. Then, the number of billionaires that had bought their shares during Q1 2023 was determined through Insider Monkey's research, and for updated coverage, the number of hedge funds that had bought their shares as of Q2 2023 is also provided. The stocks are listed according to the number of hedge fund investors since this is the more up to date data set.10 Travel Stocks Billionaires Are Loading Up On10. Sabre Corporation (NASDAQ:SABR)Number of Billionaire Investors: 8Number of Hedge Fund Investors: 28Sabre Corporation (NASDAQ:SABR) is a technology company that allows business travelers to plan their trips and hotels to manage their operations. Its stock is down 18% year to date and analysts have rated the shares as Hold on average.During this year's first quarter, eight billionaires had bought Sabre Corporation (NASDAQ:SABR)'s shares and in the next quarter, 28 out of the 910 hedge funds part of Insider Monkey's database were shareholders. Out of these, the company's largest investor is Terry Smith's Fundsmith LLP since it owns 22 million shares that are worth $72 million.Along with Airbnb, Inc. (NASDAQ:ABNB), Expedia Group, Inc. (NASDAQ:EXPE), and Booking Holdings Inc. (NASDAQ:BKNG), Sabre Corporation (NASDAQ:SABR is a travel stock that billionaires are loading up on.9. Travel + Leisure Co. (NYSE:TNL)Number of Billionaire Investors: 10 Number of Hedge Fund Investors: 33 Travel + Leisure Co. (NYSE:TNL) operates travel businesses and runs other operations. The firm's second quarter earnings results show that revenue and operating income dropped by 5% and 3% respectively. The stock also has a strong 4.59% dividend yield due to its 45 cent dividend.By the end of 2023's second quarter, 33 hedge funds out of the 910 that were surveyed by Insider Monkey had invested in Travel + Leisure Co. (NYSE:TNL)8. Tripadvisor, Inc. (NASDAQ:TRIP)Number of Billionaire Investors: 9 Number of Hedge Fund Investors: 33 Tripadvisor, Inc. (NASDAQ:TRIP) enables travelers to plan and execute their itineraries. Like other travel companies, its shares are also down by 14% year to date, and the second quarter didn't help either since core revenue struggled.After sifting through 910 hedge funds for their Q2 2023 shareholdings, Insider Monkey discovered that 33 had held a stake in the company. Tripadvisor, Inc. (NASDAQ:TRIP)'s biggest hedge fund shareholder is Paul Reeder and Edward Shapiro's PAR Capital Management due to its $89 million investment.7. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)Number of Billionaire Investors: 7 Number of Hedge Fund Investors: 35The first cruise company stock on our list, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), is up by 37% year to date but down by a whopping 70% over the past five years. The stock tanked in January 2020 and as is evident, it still hasn't recovered.As of June 2023, 35 out of the 910 hedge funds profiled by Insider Monkey were Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) investors. John W. Rogers' Ariel Investments is the firm's biggest stakeholder, through a stake worth $144 million.6. Carnival Corporation & plc (NYSE:CCL)Number of Billionaire Investors: 7 Number of Hedge Fund Investors: 40 Carnival Corporation & plc (NYSE:CCL) is one of the biggest cruise companies in the world with close to a hundred ships in its fleet. Its stock has done rather well this year, as the shares have gained 91% year to date. However, insiders have sold more than $1 million of shares over the past year or so, in a worrying development.Insider Monkey dug through 910 hedge funds for their second quarter of 2023 shareholdings and discovered that 40 had bought Carnival Corporation & plc (NYSE:CCL)'s shares. Out of these, the largest shareholder is Josh Overdeck and David Siegel's Two Sigma Advisors since it owns $192 million of shares.Expedia Group, Inc. (NASDAQ:EXPE), Carnival Corporation & plc (NYSE:CCL), Airbnb, Inc. (NASDAQ:ABNB), and Booking Holdings Inc. (NASDAQ:BKNG) are some top travel stocks billionaires are buying. Click to continue reading and see 5 Travel Stocks Billionaires Are Loading Up On. Suggested articles:12 Cheap Travel Stocks to Buy Now10 Biotech Stocks with Biggest Upside20 Most Dangerous Countries for LGBTQ+ American TravelersDisclosure: None. 10 Travel Stocks Billionaires Are Loading Up On in 2023 in 2023 is originally published on Insider Monkey.

Insider Monkey

10 Travel Stocks Billionaires Are Loading Up On

https://finance.yahoo.com/news/10-travel-stocks-billionaires-loading-192322831.html

47853206-9231-3f0d-b16e-d3ceee39b709

EXR

Resulting in Total Third Quarter Payout of $1.62 per share of Common StockSALT LAKE CITY, Aug. 18, 2023 /PRNewswire/ -- Extra Space Storage Inc. ("EXR" or the "Company") (NYSE: EXR) announced today that the Company's board of directors has declared a dividend of $0.61 per share of common stock to be paid on September 29, 2023 to stockholders of record at the close of business on September 15, 2023.Extra Space Storage. You deserve some extra space! (PRNewsFoto/Extra Space Storage Inc.)In addition to this dividend of $0.61 per share of common stock, the Company previously paid a dividend of $1.01 per share of common stock on July 19, 2023 prior to its merger with Life Storage, Inc. The pre-closing dividend was attributed to the total amount paid for the third quarter, so that between the pre-closing dividend of $1.01 per share and today's announced quarterly dividend of $0.61 per share to be paid, an EXR stockholder will receive a total dividend of $1.62 per share of common stock, consistent with the Company's second quarter 2023 dividend.It is anticipated that the Company's board of directors will return to its historical practice of paying a single quarterly dividend during the fourth quarter of 2023.About Extra Space Storage Inc.Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500.  As of June 30, 2023, Extra Space owned and/or operated 2,438 self-storage properties, which comprise approximately 1.7 million units and approximately 184.3 million square feet of rentable storage space. With the completed merger, Extra Space now has over 3,600 locations under the Extra Space, Life Storage and Storage Express brands, and it is the largest operator of self-storage properties in the United States.For more information, please visit www.extraspace.com.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/extra-space-storage-inc-announces-second-dividend-of-the-third-quarter-2023-on-common-stock-301904755.htmlSOURCE Extra Space Storage Inc.

PR Newswire

Extra Space Storage Inc. Announces Second Dividend of the Third Quarter 2023 on Common Stock

https://finance.yahoo.com/news/extra-space-storage-inc-announces-201500529.html

2d43c00d-cb18-38be-a977-ee9ee70866c5

EXR

Janus International Group, Inc.’s JBI Noke Smart Entry system is yet again selected by Extra Space Storage, Inc. EXR for expanding the installation base in more than 400 of its additional facilities, housing the Noke Screen, through the year 2024.The partnership of Janus and Extra Space has been advanced with this project initiation, bringing the incorporation of the Noke smart technology and digital access to the latter’s 700 facilities approximately in this year so far. After the completion of the project, the Extra Space customer app will be integrated with the Noke Smart Entry system, aimed to provide efficient digital access with the Noke Screen to about 1,110 Extra Space properties.Janus is optimistic about the expansion of its long-standing partnership with Extra Space through the new project. It believes that with the help of new technology, this partnership can help elevate and improve the self-storage customer experience in the upcoming period.Zacks Investment ResearchImage Source: Zacks Investment ResearchShares of JBI declined 4.9% on Sep 5, during the trading session. Nonetheless, the shares gained 0.3% in the past month against the Zacks Building Products - Miscellaneous industry’s 4.4% decline.JBI’s Business Growth InitiativesJanus primarily focuses on achieving long-term growth targets by expanding the position in its end markets, increasing the Noke system adoption by its self-storage customers, driving efficiencies across the platform along with executing strategic and value-accretive mergers and acquisitions.In the fiscal second quarter of 2023 (ended Jul 1), Janus witnessed overall growth trend attributable to favorable product mix, productivity as well as cost-savings initiatives, and commercial actions. These factors drove the customer demand across its self-storage, commercial and industrial end markets. During the quarter, the company witnessed 39% year-over-year growth in the Noke Smart Entry system installation units, bringing the number to approximately 230,000. Janus is consistently in the process of ramping its technological capabilities and expanding its market penetration aligned with its Noke smart system.Considering the current backlog and pipeline, continued benefit of commercial actions and productivity initiatives and strong year-to-date results, Janus increased its fiscal 2023 guidance. It now expects revenues to range within $1.07-$1.09 billion, up from the previous range of $1.06-$1.08 billion. Also, the adjusted EBITDA is now expected in the range of $269.5 million to $289.5 million, up from the prior range of $253 million to $278 million.Story continuesZacks RankJanus currently sports a Zacks Rank #1 (Strong Buy).About Extra SpaceExtra Space is a self-storage facilities operator, headquartered in Salt Lake City, UT. As of Jun 30, 2023, it managed 2,438 self-storage stores in 41 states and Washington, D.C. The company makes concerted efforts to consistently grow its business and achieve geographical diversity through accretive acquisitions, mutually beneficial JV partnerships and third-party management services.The company currently carries a Zacks Rank #4 (Sell). EXR delivered a trailing four-quarter negative earnings surprise of 0.8%, on average. The Zacks Consensus Estimate for EXR’s 2023 sales indicates growth of 13.5% while earnings per share indicates decline of 4.4%, from the previous year’s reported levels.Other Key PicksSome other top-ranked stocks from the Construction sector are EMCOR Group, Inc. EME and TopBuild Corp. BLD.EMCOR currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.EME delivered a trailing four-quarter earnings surprise of 17.2%, on average. Shares of the company have risen 87% in the past year. The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share indicates growth of 11.5% and 35.9%, respectively, from the previous year’s reported levels.TopBuild currently sports a Zacks Rank of 1. BLD delivered a trailing four-quarter earnings surprise of 14.1%, on average. Shares of the company have risen 55.2% in the past year.The Zacks Consensus Estimate for BLD’s 2023 sales and earnings per share indicates growth of 3.3% and 6.1%, respectively, from the previous year’s reported levels.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 reportEMCOR Group, Inc. (EME) : Free Stock Analysis ReportExtra Space Storage Inc (EXR) : Free Stock Analysis ReportTopBuild Corp. (BLD) : Free Stock Analysis ReportJanus International Group, Inc. (JBI) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Janus' (JBI) Noke Smart System at Extra Space's 400 Facilities

https://finance.yahoo.com/news/janus-jbi-noke-smart-system-144000111.html

dc4dca87-d537-3f3d-883c-fcc488839f78

EYEN

Eyenovia, Inc.NEW YORK, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Eyenovia, Inc. (NASDAQ: EYEN), a commercial-stage ophthalmic technology company commercializing Mydcombi™ (tropicamide+phenylephrine ophthalmic spray for mydriasis) and developing the Optejet® device for use both in connection with its own drug-device therapeutic product candidates for presbyopia and pediatric progressive myopia as well as out-licensing for additional indications, today announced that it has entered into a Securities Purchase Agreement with a leading health care investor in an offering of 4,198,633 shares of its common stock, pre-funded warrants to purchase up to 2,252,979 shares of common stock and warrants to purchase up to 4,838,709 shares of common stock (the "Offering"). The combined offering price for each share of common stock and accompanying warrant is $1.86, and the offering price for each pre-funded warrant and accompanying warrant is $1.85.The warrants will have an exercise price of $2.23 per share, will not be exercisable until six months after the date of issuance and will have a term of five years from the first date on which they may be exercised. The pre-funded warrants will have an exercise price of $0.01 per share, will be immediately exercisable and will remain exercisable until exercised in full. The proceeds from the Offering, before deducting the placement agents’ fees and other offering expenses payable by Eyenovia, are expected to be $12 million (excluding any proceeds that may be received upon the exercise of the warrants or the pre-funded warrants). The Offering is expected to close on or about August 29, 2023, subject to the satisfaction of customary closing conditions. All of the securities in the Offering are being sold by Eyenovia.Eyenovia intends to use the net proceeds from this Offering to fund commercialization of a post-ophthalmic surgery product with a PDUFA date in March, 2024 that would, assuming receipt of regulatory approvals, enter a market valued at $1.3 billion. Proceeds will also be used for manufacturing automation activities for the Optejet® device, and for working capital and general corporate purposes.Story continuesWilliam Blair is acting as the sole lead-placement agent for the Offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as the co-placement agent for the Offering.The securities described above are being offered by Eyenovia pursuant to its previously filed shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (the “SEC”) on December 23, 2021. The Offering may be made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement relating to the Offering will be filed with the SEC and, once filed, will be available on the SEC’s website at www.sec.gov. When available, copies of the prospectus supplement and the accompanying prospectus relating to the Offering may also be obtained by contacting William Blair & Company, L.L.C. at 150 North Riverside Plaza, Chicago, Illinois 60606, Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at [email protected] press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Eyenovia, Inc.Eyenovia, Inc. (NASDAQ: EYEN) is a commercial stage ophthalmic pharmaceutical technology company developing a pipeline of microdose array print therapeutics based on its Optejet platform. Eyenovia is currently focused on the commercialization of Mydcombi (tropicamide+phenylephrine ophthalmic spray) for mydriasis, as well as the ongoing late-stage development of medications in the Optejet device for presbyopia and myopia progression (partnered with Bausch+Lomb).Forward Looking StatementsExcept for historical information, all the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the completion of the Offering, the intended use of net proceeds from the Offering, and potential regulatory approvals and accessible markets for the Company’s product candidates. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, Eyenovia does not undertake any obligation to update any forward-looking statements.Eyenovia Contact:Eyenovia, Inc.John GandolfoChief Financial [email protected] Investor Contact:Eric RibnerLifeSci Advisors, [email protected](646) 751-4363Eyenovia Media Contact:Eyenovia, Inc.Norbert LoweVice President, Commercial [email protected]

GlobeNewswire

Eyenovia Announces $12 Million Registered Direct Offering

https://finance.yahoo.com/news/eyenovia-announces-12-million-registered-224700307.html

6b4733e1-60d5-31a4-9b2b-ce3043cb0145

EYEN

Eyenovia, Inc.NEW YORK, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Eyenovia, Inc. (Nasdaq: EYEN), a commercial-stage ophthalmic technology company commercializing Mydcombi™ (tropicamide+phenylephrine ophthalmic spray for mydriasis) and developing the Optejet® device for use both in connection with its own drug-device therapeutic product candidates for presbyopia and pediatric progressive myopia as well as out-licensing for additional indications, today announced management will deliver a presentation at the H.C. Wainwright 25th Annual Global Investment Conference, which is taking place on September 11-13, 2023 at the Lotte New York Palace Hotel.H.C. Wainwright 25th Annual Global Investment ConferenceFormat:On-DemandAvailable:Beginning Monday, September 11, 2023 at 7:00am ETWebcast:https://journey.ct.events/view/002ac4ec-0d8d-4aa9-8c0f-c72b5bec025dThe Eyenovia management team will be participating in one-on-one meetings during the event. Investors interested in meeting with Eyenovia at the conference should contact their H.C. Wainwright representative.About Eyenovia, Inc.Eyenovia, Inc. (NASDAQ: EYEN) is a commercial-stage ophthalmic pharmaceutical technology company developing a pipeline of microdose array print therapeutics based on its Optejet platform. Eyenovia is currently focused on the commercialization of Mydcombi (tropicamide+phenylephrine ophthalmic spray) for mydriasis, as well as the ongoing late-stage development of medications in the Optejet device for presbyopia and myopia progression (partnered with Bausch+Lomb). For more information, visit Eyenovia.com.The Eyenovia Corporate Information slide deck may be found at ir.eyenovia.com/events-and-presentations.Eyenovia Contact:Eyenovia, Inc.John GandolfoChief Financial [email protected] Investor Contact:Eric RibnerLifeSci Advisors, [email protected](646) 751-4363Eyenovia Media Contact:Norbert LoweVice President, Commercial [email protected]

GlobeNewswire

Eyenovia to Present at Upcoming H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/eyenovia-present-upcoming-h-c-120000820.html

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Key inflation data, new iPhones, and a looming deadline for contentious labor negotiations await investors in the week ahead, the first full trading week of September.The economic highlight comes on Wednesday morning, when the Consumer Price Index (CPI) for August will be released. The report is set to show headline inflation continues to reverse its downtrend as oil prices rise.On the corporate side, Apple (AAPL) is scheduled to host its marquee fall event on Tuesday, with new iPhones, Apple Watches, and a new charging port for most devices expected to be announced.A September 14 deadline also looms in a contract dispute between the United Auto Workers and automakers Ford (F), General Motors (GM), and Stellantis (STLA), with workers threatening a strike when their current deal expires on Thursday.Last week, markets continued choppy trading that began back in August as concerns over sticky price inflation from an August report on the services sector sent stocks lower on Wednesday, while a decline in tech stocks over fears regarding China's economy weighed on equity markets.The tech-heavy Nasdaq (^IXIC) led the losses, falling near 2% during the holiday-shortened trading week. The benchmark S&P 500 (^GSPC) dropped 1.1% while the Dow Jones Industrial Average (^DJI) fell 0.4%Inflation will be in focus this week with Wall Street expecting another uptick in headline inflation.Economists forecast headline inflation rose 3.6% over the prior year in August, an increase from the 3.2% rise seen in July. Prices are set to rise 0.6% on a monthly basis. An increase in energy prices is expected to drive much of the increase.On a "core" basis, which strips out the volatile food and energy categories, CPI is forecast to rise 4.3% over last year in August, a slowdown from the 4.7% increase seen in July. Monthly core price increases are expected to clock in at 0.2%.This content is not available due to your privacy preferences.Update your settings here to see it.The Federal Reserve's closer focus on core inflation has economists and investors confident the central bank won't raise rates in September. As of Friday, markets had priced in a 92% chance the Fed holds interest rates steady at the conclusion of its September 19-20 meeting, according to data from the CME Group.Story continues"We do not expect that [CPI data] will tip the scales towards a hike, given the mixed message delivered by the other employment reports and last month's inflation data," Jefferies economist Thomas Simons wrote on Friday.Also out this week will be the August retail sales report, which will provide a look at how resilient US consumers remain after a strong summer. Economists expect retail sales increased 0.1% in August, a noted decrease from the 0.7% jump seen in July.Data on producer prices, a read on small business optimism, and the weekly report on initial filings for unemployment insurance will also feature on the economic calendar.iPhone debutApple's update of its signature product on Tuesday is expected to be a market moving event, and comes at a critical juncture for America's biggest public company.Apple stock slipped more than 6% in a two-day period last week after Chinese officials told employees at central government agencies to not use iPhones at work. A new high-end phone release from China's Huawei also added pressure on Apple.Some analysts, though, said the selloff was "overblown."But this trading hangs in the background of Apple's event, dubbed "Wonderlust," which is expected to see its iPhone lineup refreshed, new Apple Watches revealed, and the introduction of USB-C charging ports across its device lineup, sunsetting the lightning charger currently powering most iPhones."Historically, the iPhone launch has been a sell-the-news event," Morgan Stanley analyst Erik Woodring wrote in a preview of the event."While we don't expect the day-of stock reaction to the September 12th Wonderlust event to be any different this year, we continue to believe that FY24 iPhone expectations are too low and that the iPhone 15 cycle is not as 'iterative' as anticipated, with the potential for both unit and [average selling price] growth."Customers experience Apple products at an Apple store in Chengdu, Southwest China's Sichuan province, Sept 8, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Weekly calendarMonday Economic data: No notable economic news. Earnings: Bowlero (BOWL), Casey's (CASY), Oracle (ORCL)TuesdayEconomic data: NFIB Small Business Optimism, August (91.3 expected, 91.9 prior)Earnings: No notable companies set to report. WednesdayEconomic data: Consumer Price Index, month-over-month, August (+0.6% expected, +0.2% previously); Core CPI, month-over-month, August (+0.2% expected, +0.2% previously); CPI, year-over-year, August (+3.6% expected, +3.2% previously); Core CPI, year-over-year, August (+4.3% expected, +4.7% previously); Real average hourly earnings, year-over-year, August (+1.1% previously)Earnings: Cracker Barrel (CBRL)Thursday Economic data: Initial jobless claims (216,000 previously); Retail sales, month-over-month, August (+0.1% expected, +0.7% previously); Retail sales ex auto and gas, August (0.0% expected, +1% previously); Producer Price Index, month-over-month, August (+0.4% expected, +0.3% previously); PPI, year-over-year, August (+1.5% expected; +0.8% previously); Core PPI, month-over-month, August (+0.2% expected, +0.3% previously); Core PPI, year-over-year, August (+2.6% expected; +2.8% previously)Earnings: Adobe (ADBE), Lennar (LEN)Friday Economic data: Import prices, month-over-month, August (+0.3% expected, +0.4% previously); Export prices, month-over-month, August (+0.3% expected, +0.7% previously); Empire Manufacturing, September (-10.7 expected, -19 previously); Industrial production, month-over-month, August (+0.1% expected, +0.5 prior); University of Michigan consumer sentiment, September, preliminary (69.4 expected, 69.5 previously)Earnings: No notable companies set to report.Josh Schafer is a reporter for Yahoo Finance.Click here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Inflation, iPhones, and looming auto strikes: What to know this week

https://finance.yahoo.com/news/inflation-iphones-and-looming-auto-strikes-what-to-know-this-week-140049476.html

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In this piece, we will take a look at the 25 most biodiverse countries in the world. To skip our analysis of global biodiversity, its ecological and economic impacts, as well as some companies that operate within this space, go ahead and see the 5 Most Biodiverse Countries in the World.Biodiversity, or biological diversity, refers to the variety of life on Earth, including the diversity of species, genes, and ecosystems. It encompasses all living organisms, from the smallest microorganisms to the largest mammals, and the interactions they have with each other and their environments. The term biodiversity is often considered a measure of the health and resilience of ecosystems, and its loss can have far-reaching ecological, economic, and societal consequences. Although sustainability commitments are increasingly prevalent in corporate strategic planning, there remains a significant gap in attention to the critical investment required for the preservation and augmentation of global biodiversity.As per the World Economic Forum (WEF), over 50% of the global Gross Domestic Product (GDP) relies significantly or to a moderate extent on ecosystem services. These services encompass natural resources, groundwater, and the essential role of pollination in food production. However, biodiversity investment goes beyond sustainability; it also presents a compelling business proposition. In the coming decade, the WEF projects that safeguarding natural ecosystems and enhancing biodiversity could unlock business prospects valued at a staggering $10 trillion yearly while concurrently spawning approximately 400 million fresh employment opportunities. These opportunities span various sectors, including enhancing energy efficiency in construction and implementing circular economy solutions within the automotive, electronics, and textile industries.See also: 25 Most Environmentally Friendly Companies in the WorldThus, declining ecosystems hold massive financial repercussions for companies. Similar to the asset-price bubble of 2008, this phenomenon eludes straightforward linear understanding. However, once set in motion, its consequences can far surpass the ordinary. Such a scenario holds substantial significance for businesses, affecting them in both the immediate and long-term contexts. As an illustration, the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), a body associated with the United Nations, has calculated that the economic worth of food production directly reliant on pollinating insects ranges from $235 billion to $577 billion on a global scale. Additionally, the UNDP states that degrading ecosystem could trigger a downward spiral of approximately $2.7 trillion in global GDP by 2030.Story continuesBusinesses perceived as environmentally conscious often cultivate an image of responsibility, yielding advantages in both public perception and practicality that extend beyond their immediate operations. Nevertheless, prioritizing cost savings through reduced energy consumption takes precedence. In addition to curbing energy use, these forward-thinking organizations allocate resources to R&D, and actively champion social initiatives aimed at fostering eco-friendly products and internal procedures. For instance, Ford Motor Company (NYSE:F) has adhered to a comprehensive ten-point environmental policy over an extended period. The corporation incorporates sustainable fabrics into its vehicles, with an impressive 80% recyclability rate for both the Focus and Escape models. Furthermore, Ford boasts ownership of one of the world's largest green roof. Aside from Ford Motor Company (NYSE:F), companies like Hewlett Packard Enterprise Company (NYSE:HPE), Starbucks Corporation (NASDAQ:SBUX), and Johnson & Johnson (NYSE:JNJ) have several initiatives that are aimed at marking a positive impact on global biodiversity, either by reducing emissions and cutting back on toxic substances used in manufacturing products.25 Most Biodiverse Countries in the Worldvovan/Shutterstock.comOur MethodologyTo compile our list of the 25 most biodiverse countries in the world, we made use of the Global Biodiversity Index presented by social research firm 'The Swiftest' which ranks 201 countries based on six ranking factors including the number of bird, amphibian, fish, mammal, reptile, and plant species present in each nation.Most Biodiverse Countries in the World25. PanamaGlobal Biodiversity Index: 170.54 Panama boasts one of the world's greatest levels of natural diversity. Its tropical climate, characterized by elevated temperatures and humidity, provides a nurturing environment for a plethora of plant and animal species. In total, Panama is home to more than 10,462 distinct plant species, encompassing a rich assortment of 1,200 orchid varieties, 678 fern species, and 1,500 tree varieties. Additionally, the country boasts 252 mammal species, 972 native bird species, and 228 diverse amphibian species.24. CameroonGlobal Biodiversity Index: 172.41Cameroon is home to approximately 9,000 recognized plant species, and new ones are continuously being discovered by scientists each year. Among these, just over 500 species are exclusive to Cameroon, meaning they exist nowhere else on Earth. This remarkable biodiversity is a result of the diverse range of ecosystems found within the country, encompassing a coastline, savannas, deserts, mountains, and tropical rainforests. Cameroon is often aptly described as a 'miniature Africa' due to this remarkable variety of environments it harbors.23. KenyaGlobal Biodiversity Index: 179.42Kenya boasts an extensive range of ecological zones and habitats, encompassing lowland and mountain forests, both wooded and open grasslands, semi-arid scrubland, dry woodlands, inland aquatic environments, and coastal and marine ecosystems. Wetlands play a crucial role in Kenya's economy, contributing significantly to agriculture, livestock production, energy generation (via hydroelectric projects), fisheries, and tourism. Despite robust efforts to safeguard Kenya's biodiversity, there are numerous unprotected regions facing rapid degradation due to various threats, resulting in a multitude of conservation challenges.22. PhilippinesGlobal Biodiversity Index: 186.92The Philippines is renowned as a mega-diversity country with regards to its remarkable biodiversity. This archipelago of over 7,000 islands in Southeast Asia boasts an astonishing array of species and ecosystems. Numerous islands within the archipelago are thought to exhibit exceptionally high levels of endemism, encompassing a minimum of 25 plant genera and accounting for 50% of the terrestrial wildlife. The nation is a habitat to more than 52,000 documented species, with over half of them existing exclusively within its borders. When considering the area-to-diversity ratio, it's likely that the Philippines contains a greater variety of life forms than any other country on Earth.21. ArgentinaGlobal Biodiversity Index: 198.74Given its diverse range of habitats, Argentina naturally boasts abundant biodiversity. The country is home to slightly over 1,000 bird species, a wealth of flora, and numerous hundreds of mammal, reptile, and amphibian species, among them the likes of Jaguars, Orcas, and critically endangered frogs.20. ThailandGlobal Biodiversity Index: 200.77Situated in the tropical expanse of Southeast Asia, Thailand spans 513,120 square kilometers and is home to a population of approximately 69 million. As an upper-middle-income economy, Thailand is blessed with a diverse ecosystem and abundant biodiversity, which hold significant importance for both local communities and the nation's overall development. Ranking among the most biodiverse countries in Southeast Asia, Thailand reaps substantial benefits from the ecosystems, terrains, and habitats that nurture its exceptional array of biodiversity.19. South AfricaGlobal Biodiversity Index: 207.94South Africa's wealth of topographical features, climatic variations, geological formations, and diverse population offers a broad spectrum of natural and cultural assets. Hence, it comes as no surprise that it is internationally recognized as one of the most biodiverse countries in the world, thanks to its extensive range of species, high rate of endemism, and a plethora of diverse ecosystems.18. BoliviaGlobal Biodiversity Index: 209.55Positioned within the heart of the Tropical Andes Biodiversity Hotspot, Bolivia stands out as one of the most biodiverse countries in the world. It boasts an impressive roster of roughly 13,644 plant species, 799 fungal species, 13,719 insect species, 313 reptile species, 251 amphibian species, and 908 species of freshwater fish.17. TanzaniaGlobal Biodiversity Index: 213.10Tanzania, located in East Africa, is renowned for its expansive wilderness regions. These encompass the Serengeti National Park, a renowned safari destination inhabited by the iconic "big five" (elephant, lion, leopard, buffalo, rhino), as well as Kilimanjaro National Park, which is home to Africa's tallest mountain. Along its coastline, you'll find tropical islands like Zanzibar, infused with Arabic influences, and Mafia, boasting a marine park that shelters whale sharks and vibrant coral reefs.16. Democratic Republic of CongoGlobal Biodiversity Index: 214.43The Democratic Republic of Congo (DRC) holds a paramount position in Africa's biodiversity conservation efforts. Within its borders, the DRC shelters an array of extraordinary endemic species, including the okapi, Grauer's gorilla, bonobo, and Congo peacock. It possesses over half of Africa's tropical forests, with dense woodlands and forests spanning more than half of its vast land area of 2.3 million square kilometers. These ecosystems play a vital role in regulating global climatic patterns.15. MalaysiaGlobal Biodiversity Index: 214.71Malaysia, known for its remarkable biodiversity, ranks among the world's megadiverse nations. In this regard, the country has consistently demonstrated its dedication to the sustainable preservation and management of its rich biodiversity. During the 1992 United Nations Conference on Environment and Development in Rio de Janeiro, Malaysia pledged its commitment to ensure that at least 50% of its land would remain under forest tree cover. As of today, Malaysia's forest cover has exceeded this commitment, reaching 54.6%, which corresponds to 18.04 million hectares of its total land area.14. VietnamGlobal Biodiversity Index: 216.97Vietnam, located in the eastern part of the Indochina Peninsula, spans over 15 latitudes, covering a distance of 1,650 kilometers. Its extensive marine territory comprises a coastline stretching 3,260 kilometers and is dotted with numerous islands. The country boasts abundant freshwater ecosystems, encompassing over 10 million hectares of wetlands. Vietnam exhibits remarkable biodiversity across its landscapes, featuring a diverse array of fauna, flora, and microorganisms. On the terrestrial front, it has identified more than 13,200 flora species and approximately 10,000 fauna species, along with over 3,000 aquatic species thriving in its inland wetlands. The tropical marine region encompasses over 20 distinctive ecosystems and is home to a staggering 11,000 marine species. Moreover, with 16 crop groups and an impressive array of more than 800 distinct species, Vietnam is globally recognized as a prominent hub for plant breeding.13. MyanmarGlobal Biodiversity Index: 221.77Myanmar boasts remarkable biodiversity, thanks to its diverse range of ecosystems spanning from sea level to towering mountain peaks. Among these ecosystems, forests are pivotal for environmental stability. However, the country also hosts a wide array of freshwater environments, ranging from swift mountain streams to expansive, slow-moving lowland rivers, along with lakes and non-flowing wetlands. Additionally, Myanmar possesses some of the most extensive and least disturbed coastal and marine ecosystems in mainland Southeast Asia.The extensive coastline encompasses around half a million hectares of brackish and freshwater swamplands, providing crucial ecological functions and serving as habitats for spawning, nursery, and feeding grounds for economically significant aquatic organisms such as fish, prawns, and other aquatic flora and fauna. In total, Myanmar boasts an impressive biodiversity, including 11,800 vascular plant species (including gymnosperms and angiosperms), 251 mammal species, 1,056 bird species, 279 reptile species, 82 amphibian species, 841 medicinal plants, 96 varieties of bamboo, and numerous tropical crop species.12. Papua New GuineaGlobal Biodiversity Index: 226.57Papua New Guinea, known for its significant share of the world's biodiversity, boasts a diverse landscape featuring breathtaking highland valleys, expansive grasslands, extensive tropical rainforests, ancient swamplands, and intricate mangrove ecosystems. Within this remarkable setting, the country is a sanctuary for a rich variety of wildlife, including an estimated 150,000 species of insects, 314 species of freshwater fish, over 641 species of amphibians and reptiles, 740 bird species, and 276 mammal species. Among these, notable inhabitants include the Queen Alexandra Birdwing, the world's largest butterfly, the largest species of tree frog, the planet's sole poisonous birds, and 12 of the 14 recognized tree kangaroo species.11. VenezuelaGlobal Biodiversity Index: 273.39Venezuela's remarkable geographic and biological diversity encompasses the Andes Mountains, Amazon Basin, Guiana Shield, Caribbean Sea, and Atlantic Ocean, securing its position among the most biodiverse countries in the world. This rich tapestry of ecosystems provides habitat to numerous endemic species. The nation's wildlife is equally varied, featuring over 250 mammal species, including elusive cats like pumas and jaguars, as well as howler monkeys, sloths, and the capybara, which holds the title of the world's largest rodent, among other notable species.10. United StatesGlobal Biodiversity Index: 280.13The United States stands as a worldwide hub of diversity for numerous organism groups, particularly those dependent on aquatic environments, such as salamanders, freshwater mussels, and freshwater turtles. However, the country, like many others across the globe, is undergoing a biodiversity crisis. While initiatives like the America the Beautiful initiative sets a nationwide goal to conserve 30% of U.S. lands and waters by 2030, in line with the global 30 by 30 goal, a recent U.S. wildlife conservation report highlights that 40% of animal species, 34% of plant species, and 40% of ecosystems across the country are currently facing significant risks.9. EcuadorGlobal Biodiversity Index: 291.58Ecuador stands out on the global stage for its abundant floral diversity, a hidden gem often threatened by human activities. This nation boasts an impressive statistic – it is estimated to harbor more plant species per unit area than any other South American country. Ecuador's natural landscape can be broadly classified into four distinct geographical zones: the coastal region, the mountainous terrain, the lush Amazon rainforest, and the renowned Galapagos Islands. When it comes to conservation efforts, Ecuador is typically categorized into continental Ecuador and the Galapagos Islands, although the distribution of such initiatives is not the same across the nation. Within its borders, Ecuador hosts an array of 26 distinct habitat types, each characterized by unique flora patterns dictated by factors like altitude and precipitation levels.8. IndiaGlobal Biodiversity Index: 301.63From a biogeographical perspective, India occupies a strategic position at the confluence of three distinct realms: the Afro-tropical, Indo-Malayan, and Paleo-Arctic realms. Consequently, India boasts characteristic elements from each of these realms. This fusion of three distinct biogeographical realms endows the country with a wealth of biological diversity, rendering it exceptionally rich and unique. According to the International Union for Conservation of Nature (IUCN), India is a megadiverse country that claims 2.4% of the world's land area, yet accounts for 7-8% of all recorded species of flora and fauna.7. PeruGlobal Biodiversity Index: 330.12Peru, situated in the western region of South America, spans over 1.2 million square kilometers and is divided into three distinct regions: the Coast, Highlands, and Jungle. Its current population surpasses 31.5 million residents. According to the Global Biodiversity Index, Peru ranks among the top ten most biodiverse countries in the world and is home to the second-largest expanse of the Amazon rainforest on the planet. This combination accounts for a staggering 70% of the world's total biodiversity.6. AustraliaGlobal Biodiversity Index: 337.18Australia boasts a diverse range of ecosystems owing to its unique geographical positioning, providing a haven for numerous species found nowhere else on the planet. However, the menace of deforestation poses a grave threat to many of these plants and animals. Among the endemic wildlife found here, one can encounter the common ringtail possum, kangaroo, Parma wallaby, Tasmanian devil, galah, gang-gang cockatoo, and the Common wombat. Click to continue reading and see the 5 Most Biodiverse Countries in the World.  Suggested Articles:20 Most Dog Friendly Cities in the US12 Best Places to Retire in Ecuador20 Most Popular Liquor Brands in AmericaDisclosure: None. 25 Most Biodiverse Countries in the World is originally published on Insider Monkey.

Insider Monkey

25 Most Biodiverse Countries in the World

https://finance.yahoo.com/news/25-most-biodiverse-countries-world-195307367.html

2f46db5c-cd58-333d-aa98-923fef136849

FAF

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.One stock to keep an eye on is First American Financial (FAF). FAF is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 12.12 right now. For comparison, its industry sports an average P/E of 27.67. Over the last 12 months, FAF's Forward P/E has been as high as 13.14 and as low as 6.85, with a median of 10.61.Another notable valuation metric for FAF is its P/B ratio of 1.33. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 1.40. Over the past 12 months, FAF's P/B has been as high as 1.41 and as low as 0.95, with a median of 1.22.Value investors will likely look at more than just these metrics, but the above data helps show that First American Financial is likely undervalued currently. And when considering the strength of its earnings outlook, FAF sticks out at as one of the market's strongest value stocks.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 reportFirst American Financial Corporation (FAF) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Should Value Investors Buy First American Financial (FAF) Stock?

https://finance.yahoo.com/news/value-investors-buy-first-american-134010624.html

d49ecaca-168b-38e7-8f54-04cf4d7e4521

FAF

SANTA ANA, Calif., September 08, 2023--(BUSINESS WIRE)--First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, announced today that Great Place to Work® and Fortune have recognized First American as one of the Best Workplaces in Financial Services & Insurance™ for the seventh year in a row."First American is widely recognized for our unique culture, which fosters innovation and reflects the dedication and teamwork our people demonstrate daily toward each other, our customers and the communities they serve," said Ken DeGiorgio, CEO of First American Financial Corporation. "We work hard to provide our people a great place to work, so it’s especially rewarding to earn national recognition year after year."Great Place to Work selected the Best Workplaces list using rigorous analytics and confidential feedback derived from employee responses to 60 statements on a five-point scale and their answers to two open-ended questions within the Great Place to Work® Trust Index™ survey. The ranking is based on analysis of survey responses from over 191,000 employees from Great Place to Work-Certified™ companies in the financial services and insurance industry. Honorees were selected based on their ability to offer positive outcomes for employees regardless of job role, race, gender, sexual orientation, work status, or other demographic identifier."Congratulations to the Best Workplaces in Financial Services & Insurance," said Michael C. Bush, CEO of Great Place to Work. "These companies know that it isn’t the industry – but the company – that determines the employee experience. By putting people first, they are reaping the rewards: higher levels of performance, innovation and customer experience."Alyson Shontell, editor-in-chief of Fortune, added, "Creating a vibrant workplace culture that draws the best talent in finance is vital for the success of the leaders in this highly competitive industry. It is also what’s needed to ignite innovation and deliver best-in-class performance."Story continuesAdditional Workplace Culture RecognitionEarlier this year, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the eighth consecutive year, and recognized as one of the 100 Best Workplaces for Innovators by Fast Company. In 2022, First American was named one of the Best Workplaces for Women™ for the seventh year in a row. Additionally, First American earned a score of 100 on the Human Rights Campaign Foundation’s 2022 Corporate Equality Index (CEI) for LGBTQ+ workplace equality, marking the fifth consecutive year First American has earned top marks in the CEI.The company’s Canadian subsidiary, FCT, has been named by Great Place to Work to the Best Workplaces™ in Canada – 1000+ Employees list for the past nine years. In 2022, the company was also recognized for the third consecutive year on the list of Best Workplaces™ for Women.About First AmericanFirst American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $7.6 billion in 2022, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2023, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the eighth consecutive year and was named one of the 100 Best Workplaces for Innovators by Fast Company. More information about the company can be found at www.firstam.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908958045/en/ContactsMedia Contact: Marcus GinnatyCorporate CommunicationsFirst American Financial Corporation714-250-3298Investor Contact: Craig BarberioInvestor RelationsFirst American Financial Corporation714-250-5214

Business Wire

First American Named One of the Best Workplaces in Financial Services & Insurance™ by Great Place to Work® and Fortune for Seventh Consecutive Year

https://finance.yahoo.com/news/first-american-named-one-best-150000510.html

fb800361-049a-3b73-92e3-c37ccb9d5fc0

FANG

It has been about a month since the last earnings report for Diamondback Energy (FANG). Shares have added about 2.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Diamondback 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 catalysts.Diamondback Q2 Earnings Miss Estimates on Lower PricesDiamondback Energy reported second-quarter 2023 adjusted earnings per share of $3.68, missing the Zacks Consensus Estimate of $3.92 and deteriorating from the year-ago bottom line of $7.07. The underperformance reflects lower overall realization.Meanwhile, revenues of $1.9 billion fell 30.7% from the year-ago quarter’s sales but marginally outperformed the Zacks Consensus Estimate (by $8 million) due to higher-than-expected production.In good news for investors, the company is using the excess cash to reward them with dividends and buybacks. As part of that, FANG’s board of directors declared a quarterly cash dividend of 84 cents per share to its common shareholders of record on Aug 10. The payout will be made on Aug 17.The company also executed $321 million of share repurchases during the second quarter of 2023 at $132.21 apiece.Production & Realized PricesFANG’s production of oil and natural gas averaged 449,912 barrels of oil equivalent per day (BOE/d), comprising 58% oil. The figure was up 18.3% from the year-ago quarter and surpassed our estimate of 432,895 BOE/d. While crude and natural gas output increased 19% and 18.4% year over year, respectively, natural gas liquids volumes rose 16% from the first quarter of 2022.The average realized oil price during the most recent quarter was $71.33 per barrel, 34.4% lower than the year-ago realization of $108.80 but outperformed our projection of $66.32. Meanwhile, the average realized natural gas price plunged to 94 cents per thousand cubic feet (Mcf) from $6.15 in the year-ago period and missed our estimate of $1.92. Overall, the company fetched $45.94 per barrel compared with $70.65 a year ago.Story continuesCosts & Financial PositionDiamondback’s second-quarter cash operating cost was $10.66 per barrel of oil equivalent (BOE) compared to $12.24 in the prior-year quarter and our projection of $10.86. The cutback in costs came even though lease operating expenses rose to $4.88 per BOE from $4.59 in the second quarter of 2022.FANG’s production taxes decreased 29.8% year over year to $3.61 per BOE, while gathering and transportation expenses moved down in the second quarter of 2023 to $1.66 per BOE from $1.76 during the corresponding period of 2022.Diamondback spent $711 million in capital expenditure — $635 million on drilling and completion, $46 million on infrastructure, environment and $30 million on midstream. The company booked $547 million in free cash flows in the second quarter.As of Jun 30, the Permian-focused operator had approximately $18 million in cash and cash equivalents, and $6.5 billion in long-term debt, representing a debt-to-capitalization of 28.8%.GuidanceIn 2023, FANG said it still looks to pump 435,000-445,000 BOE/d of hydrocarbon, up from the prior outlook of 430,000-440,000 BOE/d. Of this, oil volumes are likely to be 260,000-262,000 barrels per day. The company forecast a capital spending budget between $2.6 billion and $2.675 billion.How Have Estimates Been Moving Since Then?It turns out, fresh estimates flatlined during the past month.VGM ScoresAt this time, Diamondback has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second 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.OutlookDiamondback has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerDiamondback is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, CNX Resources Corporation. (CNX), a stock from the same industry, has gained 6.9%. The company reported its results for the quarter ended June 2023 more than a month ago.CNX Resources Corporation. reported revenues of $337 million in the last reported quarter, representing a year-over-year change of -28.8%. EPS of $0.29 for the same period compares with $0.61 a year ago.CNX Resources Corporation. is expected to post earnings of $0.28 per share for the current quarter, representing a year-over-year change of +151.9%. 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 CNX Resources Corporation. 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 reportDiamondback Energy, Inc. (FANG) : Free Stock Analysis ReportCNX Resources Corporation. (CNX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Diamondback (FANG) Up 2.2% Since Last Earnings Report?

https://finance.yahoo.com/news/why-diamondback-fang-2-2-153009413.html

12db50a4-5d80-3870-b6c0-7904dfc9f1ba

FANG

Now might be a great time to look for the best oil stocks to buy. Expectations of rising Brent crude oil prices for the remainder of 2023 continuing into 2024 are making the search for oil stocks to buy worthwhile again. Brent crude oil comes from the North Sea but its price highly correlates to the oil that flows to the West. Higher price expectations set the stage for business expansion throughout the sector and, in turn, higher share prices. InvestorPlace - Stock Market News, Stock Advice & Trading TipsInvestors reaped strong returns in 2022 as the per barrel price hovered near $100. It is possible that prices rise to those levels again. Current expectations suggest prices should rise through mid-2024 so now is the time to consider which oil stocks to buy. Exxon Mobil (XOM) Exxon Mobil logo outside of a corporate buildingSource: Harry Green / Shutterstock.comIt’s reasonable to argue that Exxon Mobil (NYSE:XOM) and its stock are in as strong a position now as a year ago. Earnings have fallen across the sector as oil prices have fallen in 2023. However, the company is approaching the new energy paradigm while also preparing to take advantage of rising prices. Let’s address those thoughts in order. The energy sector is and will continue to face pressure to reduce carbon emissions. Exxon Mobil acquired Denbury (NYSE:DEN) in mid-July. Denbury provides carbon capture and storage solutions and thus complements Exxon Mobil as it pivots toward a future-forward outlook. Meanwhile, Exxon Mobil is preparing to take advantage of rising prices. Second quarter production reached record levels in the Permian basin and Guyana. That resulted in refinery throughput reaching its highest Q2 level in the last 15 years. What makes XOM one of the better oil stocks to buy is that it provides stability and income and the scale of the firm means it exercises power that it can use to shape markets. Chevron (CVX)CVX stockSource: tishomir / Shutterstock.comChevron (NYSE:CVX) is a comparable stock to XOM. Investors should buy both because they are simply very strong. Story continuesA Wall Street Journal article from a month ago reiterated one of the primary things that makes Chevron and Exxon Mobil oil stocks to buy. The companies continue to reward investors richly despite fluctuations in underlying commodity prices. Cash flows declined by a factor of 3.7 over the last year but shareholder payouts remained stable. Both firms performed incredibly well in 2022 and that will serve to stabilize each as an investment through 2023. Indications that oil prices may approach 2022 levels in 2024 suggest each form will continue to be very stable. Chevron is aggressively moving to capture greater volumes and acquired PDC Energy on Aug. 7. The purchase gives Chevron 275,000 additional acres of potential production in the Denver-Julesburg basin that abuts Chevron’s current operations. All of these factors make CVX shares an easy recommendation at least through mid-2024. Hess (HES)Hess (HES) logo on a phone screenSource: rafapress / Shutterstock.comHess (NYSE:HES) focuses on the exploration and production side of the oil industry. The stock represents the pursuit of low-cost, high-return energy sources. Thus, Hess benefits if rising prices coincide with successful exploration efforts that identify such energy sources, which is why it’s one of the more intriguing oil stocks to buy.The company has allocated more than 80% of its $3.7 billion 2023 exploratory budget to securing such sources in Guyana and the Bakken. That investment yielded increased production in those respective geographies. Second quarter production in Guyana increased from 67,000 barrels of oil equivalent per day to 110,000 boepd year over year. In the Bakken, production increased by 29% to 181,000 boepd. The company’s exploratory success led to increased production guidance and strongly suggests that the directed E&P investment was appropriate. Those efforts have put Hess in a position that should reward investors who establish a position now as we move into 2024. Diamondback Energy (FANG)diamondback energy logo on its website to represent oil stocksSource: Pavel Kapysh / Shutterstock.comDiamondback Energy (NASDAQ:FANG) is a smaller firm relative to the others discussed above. That said, its stock is every bit as interesting. The company is consolidating its assets in order to strengthen operations and increasingly reward investors. Diamondback Energy initiated a non-core asset sale that aimed to produce $1 billion in proceeds. In Q2, proceeds exceeded $1.1 billion, making it one of the more lucrative oil stocks to buy. In turn, the company has increased the base dividend by 5% while repurchasing $321 million worth of shares in the second quarter.Diamondback Energy is racing to bring as many wells online as it can. It drilled 156 wells in the first half of 2023 with 98 occurring in Q2. 140 of those wells were completed with 89 brought into production in the second quarter. The company is an excellent choice for investors focused on west Texas and Permian basin production and a shareholder value focus. Matador Resources (MTDR) Oil. 3D Illustration. Oil stocks are up.Source: Pavel Ignatov / Shutterstock.comMatador Resources (NYSE:MTDR) is one of the better oil stocks to buy at the moment. The E&P company is doing better than expected after acquiring Advance Energy Partners in April of this year. Matador Resources’ daily per barrel oil production was 3% higher than anticipated and a record quarter for the company overall in that regard. The firm attributes the excellent production to its acquisition of Advance Energy Partners. Further, Matador’s capital expenditures only reached $310 million which was far lower than the $358 million budgeted. The company is expecting production in the fourth quarter to reach 140,000 barrels of oil per day which would represent a 40% increase on a year-over-year basis. In short, Matador Resources is doing much better than it expected. That has allowed the firm to give guidance for continued increased production and lower costs. Meanwhile, the company is expanding its midstream operations after successfully piloting those midstream operations at 15 wells earlier. Chord Energy (CHRD)3D rendered two black oil barrels on digital financial chart screen with yellow numbers and rising, green, falling, red arrows on black background. Oil stocksSource: stockwars / Shutterstock.comChord Energy (NASDAQ:CHRD) might not be amongst the best-known oil stocks but it offers a lot to investors. Shares are very well regarded by Wall Street and possess high upside based on expectations. Beyond that, Chord Energy also includes a base-plus-variable dividend that yields more than 3% currently. It rises as Chord Energy’s results improve but yields a base payment regardless. One of the primary reasons to be optimistic about increasing dividends and overall prospects is the company’s guidance. Q2 production levels were at the high end of guidance and will result in improving business as oil prices continue to rise. The company is also doing what most other energy firms are doing. It is reducing non-core assets while also advancing sustainability initiatives. Investors should understand that Chord Energy’s oil volumes and natural gas liquids volume performance were both strong relative to Q2 guidance. That has allowed the company to increase guidance which could lead to quick returns quite soon.  Ovintiv (OVV)Ovintiv logo on a phone screen. OVV stock.Source: rafapress / ShutterstockOvintiv (NYSE:OVV) has invested heavily in production in anticipation of rising prices. Investments have yielded greater production which is a primary reason to consider OVV stock at the moment. The firm increased its capital expenditure from $511 million to $640 during the second quarter. The 25% increase in capital expenditures resulted in a 14.6% increase in total production in the second quarter. That’s probably not ideal. Neither is the fact that prices fell across the board in Q2 for the oil, NGL, and natural gas that Ovintiv sells. Yet Ovintiv is in a position to rise simply due to the anticipated increase in prices moving forward. That’s not to say that the company didn’t have bright spots in Q2 as prices declined. It did. Its costs declined substantially, especially in regard to production where per barrel costs fell from $2.58 to $1.43. Full-year production guidance has been increased and that, along with rising prices, puts OVV in the driver’s seat to reward investors. 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 InvestorPlaceChatGPT IPO Could Shock the World, Make This Move Before the AnnouncementMusk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.The Rich Use This Income Secret (NOT Dividends) Far More Than Regular InvestorsThe post Top 7 Oil Stocks to Grab as Brent Crude Skyrockets Into 2024 appeared first on InvestorPlace.

InvestorPlace

Top 7 Oil Stocks to Grab as Brent Crude Skyrockets Into 2024

https://finance.yahoo.com/news/top-7-oil-stocks-grab-212101746.html

924f471f-a87a-3566-b711-496b7d62ecff

FAST

In the latest trading session, Fastenal (FAST) closed at $55.86, marking a -0.39% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.7%. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq lost 1.06%.Coming into today, shares of the maker of industrial and construction fasteners had lost 1.09% in the past month. In that same time, the Retail-Wholesale sector lost 1.15%, while the S&P 500 gained 0.58%.Wall Street will be looking for positivity from Fastenal as it approaches its next earnings report date. This is expected to be October 12, 2023. On that day, Fastenal is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 2%. Our most recent consensus estimate is calling for quarterly revenue of $1.85 billion, up 2.77% from the year-ago period.FAST's full-year Zacks Consensus Estimates are calling for earnings of $1.98 per share and revenue of $7.34 billion. These results would represent year-over-year changes of +4.76% and +5.12%, respectively.It is also important to note the recent changes to analyst estimates for Fastenal. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Fastenal currently has a Zacks Rank of #3 (Hold).Investors should also note Fastenal's current valuation metrics, including its Forward P/E ratio of 28.28. This represents a premium compared to its industry's average Forward P/E of 11.3.Story continuesIt is also worth noting that FAST currently has a PEG ratio of 3.14. 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 Building Products - Retail industry currently had an average PEG ratio of 2 as of yesterday's close.The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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 reportFastenal Company (FAST) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Fastenal (FAST) Stock Moves -0.39%: What You Should Know

https://finance.yahoo.com/news/fastenal-fast-stock-moves-0-221517546.html

f0027150-68e9-30c6-882d-b8ccb476ce01

FAST

Fastenal is seeing a cyclical slowdown in demand, but it could lead to a buying opportunity for long-term investors.Continue reading

Motley Fool

Is Fastenal's Business Sending Warning Signs to Investors? 3 Things to Watch

https://finance.yahoo.com/m/3f456ba3-7225-3ea9-b363-9748c48040fb/is-fastenal-s-business.html

3f456ba3-7225-3ea9-b363-9748c48040fb

FBIN

Challenging market conditions, reduced consumer spending in light of rising inflation and an elevated interest rate environment have been dampening the demand for the Zacks Retail-Home Furnishings industry. Although an improved housing market scenario, backed by limited existing inventory, is a boon for the industry players, a series of rate hikes, continued investments in e-commerce and higher raw material costs in the home furnishing market are concerns. However, consumers’ increasing desire for shopping, efficient cost management, a persistent focus on product innovation, efforts to redesign the supply-chain network and rationalize product offerings as well as investments in the merchandising of brands and digital marketing should lend support to companies like Williams-Sonoma, Inc. WSM, Fortune Brands Innovations, Inc. FBIN, RH RH and Ethan Allen Interiors Inc. ETD.Industry DescriptionThe Zacks Retail-Home Furnishings industry comprises retailers offering home furnishing products under various categories. The merchandise assortment includes furniture, garden accessories, framed art, lighting, mirrors, candles, tableware, lamps, picture frames, bathware, accent rugs, artificial floral products, and child and teen furnishing. The industry players also develop, manufacture, market and distribute bedding products. The companies provide home and security products for residential home repair, remodeling, new construction and security applications. They are involved in manufacturing, assembling and selling faucets, accessories, kitchen sinks and waste disposal.3 Trends Shaping the Future of the Retail-Home Furnishings IndustryLow Consumer Spending & Economic Uncertainty: The industry has been suffering from softness in business trends due to the Federal Reserve’s series of interest rate hikes. Higher mortgage rates are taking a toll on the housing sector and hence on the furnishing market. Although a recently improved housing market scenario (due to the lack of existing homes for sale) has been giving a little respite for the industry players, lower discretionary spending due to an overall inflationary landscape and a higher-interest-rate environment has been a dampener.The U.S. economy is expected to slow down in the coming months as the Federal Reserve continues its extraordinary measures to combat inflation. Rising prices are putting financial strain on households, and the Federal Reserve's aggressive interest rate hikes are exacerbating the situation by diminishing consumers' disposable incomes.Inflationary Pressures & Stiff Competition: Accelerating raw material and freight costs (including e-commerce shipping), as well as higher employment-related expenses, have been putting pressure on the companies’ margins. Again, although the sales-building initiatives of the industry participants have been reaping positive results, these involve high costs. Industry players have also been grappling with supply-chain bottlenecks.Meanwhile, the home furnishing industry is highly competitive, with interior design trade and specialty stores, antique dealers, national and regional home furnishing retailers as well as department stores giving a hard time. Online retailers focused on home furnishing also pose a threat. Competitive product pricing has been eating into margins.Strong Digital Platform, Product Reinvention & Marketing Moves: The optimization of the supply chain and an improvement in e-commerce channels are expected to drive the top line. E-commerce will continue to play a major role as people find it more comfortable and safer to shop online. Product innovation plays a pivotal role in market share gain in this industry. Companies aim to come up with products and collaborate with celebrated brands and designers to maintain exclusivity. Also, customer experience is being enhanced by innovative marketing techniques, with an emphasis on digital marketing, better merchandising, store remodeling and loyalty programs.Story continuesZacks Industry Rank Indicates Dull ProspectsThe Zacks Retail-Home Furnishings industry is a seven-stock group within the broader Zacks Retail-Wholesale sector. The industry currently carries a Zacks Industry Rank #182, which places it in the bottom 26% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. 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.Despite the industry’s blurred near-term view, we will present a few stocks that one may consider adding to their portfolio. Before that, it’s worth taking a look at the industry’s shareholder returns and current valuation.Industry Outperforms the Sector, Lags the S&P 500The Zacks Retail-Home Furnishings industry has outperformed the broader Zacks Retail-Wholesale sector but underperformed the Zacks S&P 500 composite over the past year.The industry has risen 8.5% compared with the broader sector’s 2.7% growth. The Zacks S&P 500 composite has gained 9.3% over this period.One-Year Price PerformanceIndustry's Current ValuationOn the basis of the forward 12-month price-to-earnings ratio, which is commonly used for valuing retail home furnishing stocks, the industry is currently trading at 11.03 compared with the S&P 500’s 19.07 and the sector’s 21.13.Over the last five years, the industry has traded as high as 19.43X and as low as 7.09X, with the median being 13.59X, as the chart below shows.Industry’s P/E Ratio (Forward 12-Month) Versus S&P 5004 Retail-Home Furnishings Stocks to Watch We have highlighted one stock, currently carrying a Zacks Rank #2 (Buy), and three stocks with a Zacks Rank #3 (Hold). These stocks have been capitalizing on fundamental strengths and have solid growth prospects. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Ethan Allen Interiors Inc.: This Danbury, CT-based company engages in interior design, and manufacture and retail of home furnishings. Its wide array of offerings, a strong network of retail design centers and focus on interior design services as well as technological enhancement have been benefiting the company. It remains well-positioned for fiscal 2024 with its product offerings and the advantage of vertical integration, including its North American manufacturing, interior design-focused retail network, a strong logistics network and a healthy balance sheet to maximize opportunities during the year.ETD shares have rallied 26% over the past year, outperforming the industry. This Zacks Rank #2 company’s earnings estimates for fiscal 2024 have increased to $3.25 per share from $3.04 per share over the past 30 days. This depicts analysts’ optimism over the company’s growth prospects. ETD’s earnings topped the consensus mark in all the last four quarters, with the average surprise being 22.2%. Again, it carries an impressive VGM Score of B. This helps identify stocks with the most attractive value, growth and momentum.Price and Consensus: ETDWilliams-Sonoma: This is a San Francisco, CA-based multi-channel specialty retailer. The company has been benefiting from its focus on digital initiatives, higher e-commerce penetration and product introductions. In addition to the continued enhancement of the e-commerce channel, the optimization of the supply chain and disciplined cost control are expected to drive growth. Despite an increasingly promotional environment and softening industry metrics, WSM has been leveraging its market advantages and focusing on regular-price selling, driving improved customer service and controlling costs. The company’s portfolio of brands serving a range of categories, aesthetics and life stages are tailwinds.This Zacks Rank #3 stock has declined 9.4% over the past year. However, estimates for WSM’s fiscal 2023 earnings have increased to $13.75 per share from $13.38 per share over the past seven days. This company surpassed earnings estimates in three of the trailing four quarters and missed in one, the average being 6.1%.Price and Consensus: WSMFortune Brands Innovations: Based in Deerfield, IL, this company provides home and security products for residential home repair, remodeling, new construction and security applications in the United States and internationally. Amid the ongoing challenging economic conditions, the company has been focusing on an alteration in the cost structure, proficient production planning, protecting margins and improving cash generation in 2023. The company has rebranded its entire company, with a business focused on driving accelerated growth in categories through brand and innovation. It has reorganized the company from a decentralized structure with separate businesses to an aligned operating model that prioritizes activities that are key to brand, innovation and channel. These transformative changes will enable Fortune Brands Innovations to drive growth in the future.The FBIN stock, carrying a Zacks Rank #3, has risen 5.7% over the past year. This company surpassed earnings estimates in all the trailing four quarters, the average being 9.1%. Estimates for 2023 earnings have increased to $3.88 per share from $3.82 over the past 30 days, showcasing analysts’ optimism about the company’s prospects.Price and Consensus: FBINRH: Based in Corte Madera, CA, this leading luxury retailer in the home furnishing space has been riding high, given prudent growth initiatives and margin expansion efforts. A focus on elevating the brand and architecting an integrated operating platform has aided RH in becoming one of the few retailers with solid margins and operating earnings. Despite a tepid luxury housing market and a broader economic outlook, RH's efforts to elevate the design and quality of products and its plan to expand the RH brand globally will continue to drive growth.The RH stock has rallied 26.9% over the past year, outperforming the industry. RH carries a Zacks Rank #3, and the company’s earnings estimates for fiscal 2024 have increased to $3.25 per share from $3.04 per share over the past 30 days. RH surpassed earnings estimates in three of the trailing four quarters and missed in one, the average being 7.8%.Price and Consensus: RHWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportWilliams-Sonoma, Inc. (WSM) : Free Stock Analysis ReportRH (RH) : Free Stock Analysis ReportEthan Allen Interiors Inc. (ETD) : Free Stock Analysis ReportFortune Brands Innovations, Inc. (FBIN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

4 Retail Home Furnishing Stocks to Watch Despite a Challenging Industry

https://finance.yahoo.com/news/4-retail-home-furnishing-stocks-162000766.html

920fc33d-6f9d-3f2d-85b3-376d9bfa25f9

FBIN

For Immediate ReleaseChicago, IL – August 29, 2023 – Today, Zacks Equity Research discusses Williams-Sonoma, Inc. WSM, Fortune Brands Innovations, Inc. FBIN, RH RH and Ethan Allen Interiors Inc. ETD.Industry: FurnitureLink: https://www.zacks.com/commentary/2141453/4-retail-home-furnishing-stocks-to-watch-despite-a-challenging-industryChallenging market conditions, reduced consumer spending in light of rising inflation and an elevated interest rate environment have been dampening the demand for the Zacks Retail-Home Furnishings industry. Although an improved housing market scenario, backed by limited existing inventory, is a boon for the industry players, a series of rate hikes, continued investments in e-commerce and higher raw material costs in the home furnishing market are concerns.However, consumers' increasing desire for shopping, efficient cost management, a persistent focus on product innovation, efforts to redesign the supply-chain network and rationalize product offerings as well as investments in the merchandising of brands and digital marketing should lend support to companies like Williams-Sonoma, Inc., Fortune Brands Innovations, Inc., RH and Ethan Allen Interiors Inc.Industry DescriptionThe Zacks Retail-Home Furnishings industry comprises retailers offering home furnishing products under various categories. The merchandise assortment includes furniture, garden accessories, framed art, lighting, mirrors, candles, tableware, lamps, picture frames, bathware, accent rugs, artificial floral products, and child and teen furnishings.The industry players also develop, manufacture, market and distribute bedding products. The companies provide home and security products for residential home repair, remodeling, new construction and security applications. They are involved in manufacturing, assembling and selling faucets, accessories, kitchen sinks and waste disposal.3 Trends Shaping the Future of the Retail-Home Furnishings IndustryLow Consumer Spending & Economic Uncertainty: The industry has been suffering from softness in business trends due to the Federal Reserve's series of interest rate hikes. Higher mortgage rates are taking a toll on the housing sector and hence on the furnishing market. Although a recently improved housing market scenario (due to the lack of existing homes for sale) has been giving a little respite for the industry players, lower discretionary spending due to an overall inflationary landscape and a higher-interest-rate environment has been a dampener.Story continuesThe U.S. economy is expected to slow down in the coming months as the Federal Reserve continues its extraordinary measures to combat inflation. Rising prices are putting financial strain on households, and the Federal Reserve's aggressive interest rate hikes are exacerbating the situation by diminishing consumers' disposable incomes.Inflationary Pressures & Stiff Competition: Accelerating raw material and freight costs (including e-commerce shipping), as well as higher employment-related expenses, have been putting pressure on the companies' margins. Again, although the sales-building initiatives of the industry participants have been reaping positive results, these involve high costs. Industry players have also been grappling with supply-chain bottlenecks.Meanwhile, the home furnishing industry is highly competitive, with interior design trade and specialty stores, antique dealers, national and regional home furnishing retailers as well as department stores giving a hard time. Online retailers focused on home furnishing also pose a threat. Competitive product pricing has been eating into margins.Strong Digital Platform, Product Reinvention & Marketing Moves: The optimization of the supply chain and an improvement in e-commerce channels are expected to drive the top line. E-commerce will continue to play a major role as people find it more comfortable and safer to shop online. Product innovation plays a pivotal role in market share gain in this industry.Companies aim to come up with products and collaborate with celebrated brands and designers to maintain exclusivity. Also, customer experience is being enhanced by innovative marketing techniques, with an emphasis on digital marketing, better merchandising, store remodeling and loyalty programs.Zacks Industry Rank Indicates Dull ProspectsThe Zacks Retail-Home Furnishings industry is a seven-stock group within the broader Zacks Retail-Wholesale sector. The industry currently carries a Zacks Industry Rank #182, which places it in the bottom 26% of more than 250 Zacks industries.The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. 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.Despite the industry's blurred near-term view, we will present a few stocks that one may consider adding to their portfolio. Before that, it's worth taking a look at the industry's shareholder returns and current valuation.Industry Outperforms the Sector, Lags the S&P 500The Zacks Retail-Home Furnishings industry has outperformed the broader Zacks Retail-Wholesale sector but underperformed the Zacks S&P 500 composite over the past year.The industry has risen 8.5% compared with the broader sector's 2.7% growth. The Zacks S&P 500 composite has gained 9.3% over this period.Industry's Current ValuationOn the basis of the forward 12-month price-to-earnings ratio, which is commonly used for valuing retail home furnishing stocks, the industry is currently trading at 11.03 compared with the S&P 500's 19.07 and the sector's 21.13.Over the last five years, the industry has traded as high as 19.43X and as low as 7.09X, with the median being 13.59X.4 Retail-Home Furnishings Stocks to Watch We have highlighted one stock, currently carrying a Zacks Rank #2 (Buy), and three stocks with a Zacks Rank #3 (Hold). These stocks have been capitalizing on fundamental strengths and have solid growth prospects. You can seethe complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Ethan Allen Interiors Inc.: This Danbury, CT-based company engages in interior design, and manufacture and retail of home furnishings. Its wide array of offerings, a strong network of retail design centers and focus on interior design services as well as technological enhancement have been benefiting the company. It remains well-positioned for fiscal 2024 with its product offerings and the advantage of vertical integration, including its North American manufacturing, interior design-focused retail network, a strong logistics network and a healthy balance sheet to maximize opportunities during the year.ETD shares have rallied 26% over the past year, outperforming the industry. This Zacks Rank #2 company's earnings estimates for fiscal 2024 have increased to $3.25 per share from $3.04 per share over the past 30 days. This depicts analysts' optimism over the company's growth prospects.ETD's earnings topped the consensus mark in all the last four quarters, with the average surprise being 22.2%. Again, it carries an impressive VGM Score of B. This helps identify stocks with the most attractive value, growth and momentum.Williams-Sonoma: This is a San Francisco, CA-based multi-channel specialty retailer. The company has been benefiting from its focus on digital initiatives, higher e-commerce penetration and product introductions. In addition to the continued enhancement of the e-commerce channel, the optimization of the supply chain and disciplined cost control are expected to drive growth.Despite an increasingly promotional environment and softening industry metrics, WSM has been leveraging its market advantages and focusing on regular-price selling, driving improved customer service and controlling costs. The company's portfolio of brands serving a range of categories, aesthetics and life stages are tailwinds.This Zacks Rank #3 stock has declined 9.4% over the past year. However, estimates for WSM's fiscal 2023 earnings have increased to $13.75 per share from $13.38 per share over the past seven days. This company surpassed earnings estimates in three of the trailing four quarters and missed in one, the average being 6.1%.Fortune Brands Innovations: Based in Deerfield, IL, this company provides home and security products for residential home repair, remodeling, new construction and security applications in the United States and internationally. Amid the ongoing challenging economic conditions, the company has been focusing on an alteration in the cost structure, proficient production planning, protecting margins and improving cash generation in 2023.The company has rebranded its entire company, with a business focused on driving accelerated growth in categories through brand and innovation. It has reorganized the company from a decentralized structure with separate businesses to an aligned operating model that prioritizes activities that are key to brand, innovation and channel. These transformative changes will enable Fortune Brands Innovations to drive growth in the future.The FBIN stock, carrying a Zacks Rank #3, has risen 5.7% over the past year. This company surpassed earnings estimates in all the trailing four quarters, the average being 9.1%. Estimates for 2023 earnings have increased to $3.88 per share from $3.82 over the past 30 days, showcasing analysts' optimism about the company's prospects.RH: Based in Corte Madera, CA, this leading luxury retailer in the home furnishing space has been riding high, given prudent growth initiatives and margin expansion efforts. A focus on elevating the brand and architecting an integrated operating platform has aided RH in becoming one of the few retailers with solid margins and operating earnings. Despite a tepid luxury housing market and a broader economic outlook, RH's efforts to elevate the design and quality of products and its plan to expand the RH brand globally will continue to drive growth.The RH stock has rallied 26.9% over the past year, outperforming the industry. RH carries a Zacks Rank #3, and the company's earnings estimates for fiscal 2024 have increased to $3.25 per share from $3.04 per share over the past 30 days. RH surpassed earnings estimates in three of the trailing four quarters and missed in one, the average being 7.8%.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 reportWilliams-Sonoma, Inc. (WSM) : Free Stock Analysis ReportRH (RH) : Free Stock Analysis ReportEthan Allen Interiors Inc. (ETD) : Free Stock Analysis ReportFortune Brands Innovations, Inc. (FBIN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Zacks Industry Outlook Highlights Williams-Sonoma, Fortune Brands Innovations, RH and Ethan Allen Interiors

https://finance.yahoo.com/news/zacks-industry-outlook-highlights-williams-123700657.html

259171ae-acad-33e3-bd17-fca860c9e80d

FC

Consulting services is one of the industries least affected by the pandemic. This is because even in a volatile situation, organizations require extensive advice on how to protect their employees, and stay closer to consumers and shareholders. The multi-billion-dollar industry has witnessed exponential growth since the 2008 financial crisis, enjoying a steady rate of revenues, profits, and cash-flow growth.The Zacks-defined consulting services industry is currently in the top 36% of the Zacks Industry Rank. Year to date, the industry has provided 22.7% returns, well above the 17.2% return provided by the market’s benchmark — the S&P 500 Index. Since it is ranked in the top half of Zacks Ranked Industries, we expect the consulting services industry to outperform the market over the next 3 to 6 months.The industry is in good shape, driven by a healthy demand environment for services. The U.S. economy remains solid despite the continuous hiking of interest rate in the last one and a half years by the Fed. This industry is one of the pioneers of remote working, which has become part of the new normal. The nature of work enables industry players to function efficiently through the increased use of technology.With the end of the pandemic, the focus of the industry is currently on channeling money and efforts to more effective operational components, such as high-end technology, digital transformation, and data-driven decision-making.Services are becoming more customer-centric through higher speed, incremental deliverables, and cloud technology. So, the consulting services industry is likely to witness healthy growth on internationalization and expansion of newer verticals, such as design thinking, digital and cybersecurity.According to NMS Consulting, the market size of the management consulting industry is estimated to reach $330 billion globally in 2023. In the United States the industry has reached $65 billion with a growth rate of 7.7% per annum.Story continuesStocks in FocusAt this stage, several stocks look attractive for future growth. However, a three-pronged picking method will make the task easy. First, select stocks with strong revenue and earnings potential for the rest of 2023. Second, these stocks have seen positive earnings revisions in the last 60 days. Third, each of our picks carries either a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.The chart below shows the price performance of five stock mentioned below in the past three months.Zacks Investment ResearchImage Source: Zacks Investment ResearchHuron Consulting Group Inc. HURN is the parent company of Huron Consulting Services LLC, an independent provider of financial and operational consulting services. HURN’s experienced and credentialed professionals use their expertise in accounting, finance, economics, and operations to serve a wide variety of both financially sound and distressed organizations. HURN operates through three segments: Healthcare, Education, and Commercial.Zacks Rank #1 Huron Consulting Group has an expected revenue and earnings growth rate of 17% and 31.8%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 9.4% over the last 60 days.Accenture plc ACN has been steadily gaining traction in its outsourcing and consulting businesses backed by high demand for services that can improve operating efficiencies and save costs. ACN has been strategically enhancing its cloud and digital marketing suite through buyouts and partnerships. ACN’s strong operating cash flow has helped it reward shareholders in the form of dividend payments and share repurchases, and pursue opportunities in areas that show true potential.Zacks Rank #2 Accenture has an expected revenue and earnings growth rate of 4.5% and 6.7%, respectively, for the current year (ending August 2024). The Zacks Consensus Estimate for current-year earnings has improved 0.1% over the last 60 days.Franklin Covey Co. FC provides training and consulting services in the areas of execution, sales performance, productivity, customer loyalty, and educational improvement for organizations and individuals worldwide. FC operates through three segments: Direct Offices, International Licensees, and Education Practice. FC also provides a suite of individual-effectiveness and leadership-development training and products.Zacks Rank #3 Franklin Covey has an expected revenue and earnings growth rate of 10.5% and 32.1%, respectively, for the current year (ending August 2024). The Zacks Consensus Estimate for current-year earnings has improved 11.6% over the last 60 days..Stantec Inc STN provides professional consulting services in the areas of infrastructure and facilities to the public and private sectors clients in Canada, the United States, and internationally. STN provides consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics.STN also offers planning and design consulting services to clients in residential, logistics, retail, infrastructure, energy, higher education, and urban regeneration sectors; architectural and interior design, and planning services in the science and technology, commercial workplace, higher education, residential, and hospitality markets.Zacks Rank #3 Stantec has an expected revenue and earnings growth rate of 7.5% and 13.4%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.8% over the last 60 days.Charles River Associates (CRAI) has a widely-diversified business with service offerings across areas of functional expertise, client base and geographical regions. Solid international network provides CRAI the opportunity to work with the world's leading professionals on multiple issues. CRAI’s professional team has helped it maintain solid reputation of premium consulting services.Zacks Rank #2 Charles River Associates has an expected revenue and earnings growth rate of 5.3% and 12.8%, respectively, for the next year. The Zacks Consensus Estimate for current-year earnings has improved 1.1% over the last 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 reportAccenture PLC (ACN) : Free Stock Analysis ReportCharles River Associates (CRAI) : Free Stock Analysis ReportHuron Consulting Group Inc. (HURN) : Free Stock Analysis ReportStantec Inc. (STN) : Free Stock Analysis ReportFranklin Covey Company (FC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

5 Stocks to Gain From a Thriving Consulting Services Industry

https://finance.yahoo.com/news/5-stocks-gain-thriving-consulting-115600460.html

46c3c68f-330f-3395-8abc-899f972520bd

FC

Franklin Covey (FC) closed at $40.88 in the latest trading session, marking a -0.24% move from the prior day. This change was narrower than the S&P 500's 0.32% loss on the day. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.Coming into today, shares of the corporate training and consultanting company had lost 10.97% in the past month. In that same time, the Business Services sector lost 0.45%, while the S&P 500 lost 0.12%.Wall Street will be looking for positivity from Franklin Covey as it approaches its next earnings report date. On that day, Franklin Covey is projected to report earnings of $0.49 per share, which would represent year-over-year growth of 25.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $81.6 million, up 3.54% from the year-ago period.Any recent changes to analyst estimates for Franklin Covey should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Franklin Covey is currently a Zacks Rank #3 (Hold).Valuation is also important, so investors should note that Franklin Covey has a Forward P/E ratio of 25.18 right now. This represents a premium compared to its industry's average Forward P/E of 22.24.We can also see that FC currently has a PEG ratio of 1.26. 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 Consulting Services industry currently had an average PEG ratio of 1.4 as of yesterday's close.Story continuesThe Consulting Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportFranklin Covey Company (FC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Franklin Covey (FC) Stock Moves -0.24%: What You Should Know

https://finance.yahoo.com/news/franklin-covey-fc-stock-moves-220016806.html

b92e5be6-860d-3a63-a31a-adca9b4f5833

FCBC

First Community Bankshares, Inc. (NASDAQ:FCBC) will pay a dividend of $0.29 on the 25th of August. This means the dividend yield will be fairly typical at 3.4%.While the dividend yield is important for income investors, it is also important to consider any large share price moves, as this will generally outweigh any gains from distributions. Investors will be pleased to see that First Community Bankshares' stock price has increased by 44% in the last 3 months, which is good for shareholders and can also explain a decrease in the dividend yield. Check out our latest analysis for First Community Bankshares First Community Bankshares' Dividend Forecasted To Be Well Covered By EarningsWe aren't too impressed by dividend yields unless they can be sustained over time.Having distributed dividends for at least 10 years, First Community Bankshares has a long history of paying out a part of its earnings to shareholders. Past distributions do not necessarily guarantee future ones, but First Community Bankshares' payout ratio of 41% is a good sign as this means that earnings decently cover dividends.Looking forward, earnings per share is forecast to fall by 13.1% over the next year. But if the dividend continues along the path it has been on recently, we estimate the future payout ratio could be 59%, which would be comfortable for the company to continue in the future.historic-dividendFirst Community Bankshares Has A Solid Track RecordEven over a long history of paying dividends, the company's distributions have been remarkably stable. The dividend has gone from an annual total of $0.44 in 2013 to the most recent total annual payment of $1.16. This implies that the company grew its distributions at a yearly rate of about 10% over that duration. So, dividends have been growing pretty quickly, and even more impressively, they haven't experienced any notable falls during this period.First Community Bankshares Could Grow Its DividendThe company's investors will be pleased to have been receiving dividend income for some time. We are encouraged to see that First Community Bankshares has grown earnings per share at 9.6% per year over the past five years. Since earnings per share is growing at an acceptable rate, and the payout policy is balanced, we think the company is positioning itself well to grow earnings and dividends in the future.Story continuesWe should note that First Community Bankshares has issued stock equal to 15% of shares outstanding. Trying to grow the dividend when issuing new shares reminds us of the ancient Greek tale of Sisyphus - perpetually pushing a boulder uphill. Companies that consistently issue new shares are often suboptimal from a dividend perspective.First Community Bankshares Looks Like A Great Dividend StockOverall, we like to see the dividend staying consistent, and we think First Community Bankshares might even raise payments in the future. The distributions are easily covered by earnings, and there is plenty of cash being generated as well. We should point out that the earnings are expected to fall over the next 12 months, which won't be a problem if this doesn't become a trend, but could cause some turbulence in the next year. All of these factors considered, we think this has solid potential as a dividend stock.It's important to note that companies having a consistent dividend policy will generate greater investor confidence than those having an erratic one. Still, investors need to consider a host of other factors, apart from dividend payments, when analysing a company. Just as an example, we've come across 2 warning signs for First Community Bankshares you should be aware of, and 1 of them is potentially serious. If you are a dividend investor, you might also want to look at our curated list of high yield 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.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.

First Community Bankshares (NASDAQ:FCBC) Is Due To Pay A Dividend Of $0.29

https://finance.yahoo.com/news/first-community-bankshares-nasdaq-fcbc-120446151.html

275f9710-aa9c-38e3-823c-df5246109978

FCBC

First Community Bankshares, Inc. (NASDAQ:FCBC) is about to trade ex-dividend in the next four 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. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. Therefore, if you purchase First Community Bankshares' shares on or after the 10th of August, you won't be eligible to receive the dividend, when it is paid on the 25th of August.The company's upcoming dividend is US$0.29 a share, following on from the last 12 months, when the company distributed a total of US$1.16 per share to shareholders. Looking at the last 12 months of distributions, First Community Bankshares has a trailing yield of approximately 3.4% on its current stock price of $33.86. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! That's why we should always check whether the dividend payments appear sustainable, and if the company is growing. Check out our latest analysis for First Community Bankshares Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. That's why it's good to see First Community Bankshares paying out a modest 41% of its earnings.Companies that pay out less in dividends than they earn in profits generally have more sustainable dividends. The lower the payout ratio, the more wiggle room the business has before it could be forced to cut the dividend.Click here to see how much of its profit First Community Bankshares paid out over the last 12 months.historic-dividendHave Earnings And Dividends Been Growing?Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. If earnings fall far enough, the company could be forced to cut its dividend. For this reason, we're glad to see First Community Bankshares's earnings per share have risen 15% per annum over the last five years.Story continuesMany investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. First Community Bankshares has delivered an average of 10% per year annual increase in its dividend, based on the past 10 years of dividend payments. Both per-share earnings and dividends have both been growing rapidly in recent times, which is great to see.The Bottom LineHas First Community Bankshares got what it takes to maintain its dividend payments? Typically, companies that are growing rapidly and paying out a low fraction of earnings are keeping the profits for reinvestment in the business. This strategy can add significant value to shareholders over the long term - as long as it's done without issuing too many new shares. In summary, First Community Bankshares appears to have some promise as a dividend stock, and we'd suggest taking a closer look at it.With that in mind, a critical part of thorough stock research is being aware of any risks that stock currently faces. For instance, we've identified 2 warning signs for First Community Bankshares (1 is a bit unpleasant) you should be aware of.A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield 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.

Why You Might Be Interested In First Community Bankshares, Inc. (NASDAQ:FCBC) For Its Upcoming Dividend

https://finance.yahoo.com/news/why-might-interested-first-community-120606264.html

14e623bf-489f-3e12-866f-2852e761ecd3

FCEL

FuelCell Energy's Tri-gen technology produces three products: renewable electricity, renewable hydrogen, and usable waterMarks Toyota's first port vehicle processing facility in the world to be powered by onsite-generated, 100 percent renewable electricityModels how fuel cell technology can play a role in helping reduce emissions from commercial operations, as a scalable system that can be implemented in a variety of settings/locationsPLANO, Texas and DANBURY, Conn., Sept. 7, 2023 /PRNewswire/ -- FuelCell Energy, Inc. (Nasdaq: FCEL) and Toyota Motor North America, Inc. (Toyota) have announced the completion of the first-of-its-kind "Tri-gen system" at Toyota's Port of Long Beach operations. The Tri-gen system, owned and operated by FuelCell Energy, produces renewable electricity, renewable hydrogen, and water from directed biogas. FuelCell Energy has contracted with Toyota to supply the products of Tri-gen under a 20-year purchase agreement.FuelCell Energy and Toyota Announce Completion of World's First "Tri-gen" Production SystemTri-gen is an example of FuelCell Energy's ability to scale hydrogen-powered fuel cell technology, an increasingly important energy solution in the global effort to reduce carbon emissions. Tri-gen will enable Toyota Logistic Services (TLS) Long Beach to be the company's first port vehicle processing facility in the world powered by onsite-generated, 100 percent renewable energy and represents the types of innovative and bold investments the company is making as part of its environmental sustainability strategy."By utilizing only renewable hydrogen and electricity production, TLS Long Beach will blaze a trail for our company," said Chris Reynolds, Chief Administrative Officer, Toyota. "Working with FuelCell Energy, together we now have a world-class facility that will help Toyota achieve its carbon reduction efforts, and the great news is this real-world example can be duplicated in many parts of the globe."FuelCell Energy CEO Jason Few said, "FuelCell Energy is committed to helping our customers surpass their clean energy objectives. By working with FuelCell Energy, Toyota is making a powerful statement that hydrogen-based energy is good for business, local communities, and the environment. We are extremely pleased to showcase the versatility and sophistication of our fuel cell technology and to play a role in supporting Toyota's environmental commitments."Story continuesTri-gen Supports Toyota's Port Facilities and OperationsFuelCell Energy's innovative fuel cell technology will support Toyota's operations at the port through an electrochemical process that converts directed renewable biogas into electricity, hydrogen, and usable water with a highly efficient, combustion-free process that emits virtually no air pollutants.Tri-gen produces 2.3-megawatts of renewable electricity, part of which will be off-taken by TLS Long Beach to support its operations at the port, which processes approximately 200,000 new Toyota and Lexus vehicles annually.The FuelCell Energy Tri-gen system can produce up to 1,200 kg/day of hydrogen which will provide for TLS Long Beach's fueling needs for its incoming light-duty fuel cell electric vehicle (FCEV) Mirai, while also supplying hydrogen to the nearby heavy-duty hydrogen refueling station to support TLS logistics and drayage operations at the port. Hydrogen production can be ramped up and down based on needs/requirements.1,400 gallons of water will be co-produced per day from Tri-gen's hydrogen production process and will be used by TLS Long Beach for car wash operations for vehicles that come into port prior to customer delivery. This will help decrease the use of constrained local water supplies by approximately half a million gallons per year.Tri-gen System Benefits the CommunityBy supporting TLS operations at the Port of Long Beach, Tri-gen's carbon neutral products are expected to reduce more than 9,000 tons of CO₂ emission from the power grid each year."Renewable hydrogen is an important fuel for the future of the Port of Long Beach and the shipping industry," said Port of Long Beach CEO Mario Cordero. "The renewable hydrogen generated by the 'Tri-gen' system that Toyota commissioned, and similar projects, is part of our multi-strategy approach to help fuel the transition of equipment like locomotives, harbor craft, cargo-handling equipment and trucks to zero emissions."Tri-gen will also help to avoid more than six tons of grid NOx emissions, which are harmful to both people and the environment, and has the potential to reduce diesel consumption by more than 420,000 gallons per year by using hydrogen-powered fuel cell trucks in port operations.Additionally, excess electricity not used by TLS will be delivered to the local utility, Southern California Edison, under the California Bioenergy Market Adjustment Tariff (BioMAT) program, adding a renewable, resilient, and affordable baseload electric generation resource to the electric grid.About FuelCell EnergyFuelCell Energy is a global leader in sustainable clean energy technologies that address some of the world's most critical challenges around energy, safety, and global urbanization. It collectively holds more than 450 fuel cell technology patents in the United States and globally. As a leading global manufacturer of proprietary fuel cell technology platforms, FuelCell Energy is uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments, and municipalities. The Company's solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe.About ToyotaToyota (NYSE:TM) has been a part of the cultural fabric in North America for more than 65 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships.Toyota directly employs more than 63,000 people in North America who have contributed to the design, engineering, and assembly of nearly 45 million cars and trucks at our 13 manufacturing plants. By 2025, Toyota's 14th plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, Toyota currently offers 24 electrified options. For more information about Toyota, visit www.ToyotaNewsroom.com.Press ContactsToyota Motor North AmericaJosh [email protected] EnergyKathleen [email protected] Relations ContactsFuelCell EnergyTom [email protected] Toyota Corporate Logo (PRNewsfoto/Toyota Motor North America)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/fuelcell-energy-and-toyota-announce-completion-of-worlds-first-tri-gen-production-system-301920165.htmlSOURCE Toyota Motor North America

PR Newswire

FuelCell Energy and Toyota Announce Completion of World's First "Tri-gen" Production System

https://finance.yahoo.com/news/fuelcell-energy-toyota-announce-completion-110000827.html

93261609-bc77-306f-9739-23af2f49243b

FCEL

Toyota is buying 100% renewable electric power from FuelCell Energy including water emitted from fuel cells to help supply a car wash. (Photo: Toyota Motor Corp.)Emissions from a FuelCell Energy plant will help supply water for a car wash for incoming Toyota Motor Corp. vehicles at the Port of Long Beach, California.It is one of three renewable energy uses at Toyota’s port vehicle processing center. The company claims it is the first to use 100% renewable electricity generated on site.Toyota and FuelCell Energy Inc. claim the plant models how stationary fuel cell technology can reduce emissions from commercial operations.Danbury, Connecticut-based FuelCell Energy owns and operates the “Tri-gen system. It produces renewable electricity, renewable hydrogen and water from directed biogas. Toyota will buy the renewable energy produced for 20 years.Tri-gen is an example of FuelCell Energy’s ability to scale hydrogen-powered fuel cell technology, CEO Jason Few said.The companies expect Tri-gen’s carbon-neutral products to remove more than 9,000 tons of carbon dioxide emissions from the power grid annually. It also helps offset more than 6 tons of smog-creating nitrogen oxide (NOx) emissions from the electric grid. The use of hydrogen-powered fuel cell trucks reduces diesel consumption by 420,000 gallons a year.Systems could work in other places“Working with FuelCell Energy, we now have a world-class facility that will help Toyota achieve its carbon reduction efforts,”  Chris Reynolds, Toyota chief administrative officer, said in a news release. “The great news is this real-world example can be duplicated in many parts of the globe.”FuelCell Energy’s technology uses an electrochemical process that converts directed renewable biogas into electricity, hydrogen and usable water. The combustion-free process emits practically no air pollutants.The Tri-gen system produces 2.3-megawatts of renewable electricity. Toyota Logistics Services (TLS) will use some of that to process about 200,000 new Toyota and Lexus vehicles annually.Production of up to 1,200 kilograms of hydrogen per day provides fuel for incoming Toyota Mirai fuel cell passenger vehicles and for a nearby heavy-duty hydrogen refueling station to support logistics and drayage operations at the port.Story continuesTLS plans to use 1,400 gallons of water from fuel cell production for washing cars before they are loaded for delivery to dealers. Water vapor is a fuel cell’s only emission. The fuel cell water will help cut the use of about a half a million gallons of water from constrained local supplies.Electricity that TLS doesn’t goes to Southern California Edison for returning to the electric grid under the California Bioenergy Market Adjustment Tariff program.Related articles:Port of Long Beach lands $30M for zero-emissions equipmentPorts begin charging diesel-powered polluters to build Clean Truck FundToyota aiming heavy-duty fuel cells for sale this yearClick for more FreightWaves articles by Alan Adler.The post Toyota will use fuel cell ‘emissions’ to supply a car wash appeared first on FreightWaves.

FreightWaves

Toyota will use fuel cell ‘emissions’ to supply a car wash

https://finance.yahoo.com/news/toyota-fuel-cell-emissions-supply-110000671.html

26e83998-8b53-3a42-aefc-2c90f130ab04

FCN

FTI Consulting, Inc.WASHINGTON, Sept. 07, 2023 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the appointments of Nikole Davenport as a Senior Managing Director and Enrique Alvarez and Brad Carpenter as Managing Directors within the firm’s Cybersecurity practice, further expanding the team’s presence on the West Coast and in New York.“We are very excited to welcome Nikole, Enrique and Brad to our deep bench of cybersecurity experts,” said Anthony J. Ferrante, Global Head of Cybersecurity at FTI Consulting. “They are highly respected industry leaders whose unparalleled experience and perspectives will be essential to our clients facing the biggest cybersecurity challenges of our time.”Ms. Davenport, who is based in Atlanta, joins FTI Consulting with more than 20 years of experience in information security, focused on developing compliance programs that protect personal information by creating holistic readiness and response strategies aligning interests across the enterprise. She joins FTI Consulting from Meta, where she served as the Head of Regulatory Readiness and Response Programs for WhatsApp.In her role at FTI Consulting, Ms. Davenport will advise clients on issues related to information security, implementing cybersecurity readiness protections and bolstering response capabilities. She will also help with navigating the growing cybersecurity compliance and regulatory landscape.Mr. Alvarez, who is based in San Francisco, joins FTI Consulting with more than 20 years of national security and law enforcement experience across the private and federal sectors, assisting organizations with cybersecurity investigations, incident response, and cyber preparedness and strategy. Prior to joining FTI Consulting, he retired from the Federal Bureau of Investigation (“FBI”) as a Special Agent and supervisor in the Cyber branch of the San Francisco Field Office.In his role at FTI Consulting, Mr. Alvarez will focus on responding to cyber attacks and assessing the threat profiles of organizations to determine how to tailor protections to the unique risks they face. He will also perform complex investigations to determine the root cause of incidents and what can be improved to protect against future attacks.Story continuesMr. Carpenter, who is based in New York, joins FTI Consulting with more than 20 years of experience building and leading diverse private sector and government teams to mitigate enterprise and cyber risks. He has helped combat digital and physical risk across critical infrastructure and the financial services sector through threat intelligence, cybersecurity incident response and vulnerability management operations. Prior to joining FTI Consulting, he was the Supervisory Special Agent of the FBI’s Cyber Division in New York. He also helped to establish and lead the National Cyber-Forensics and Training Alliance (NCFTA) in New York. The NCFTA is a threat intelligence fusion center that brought together Global Fortune 500 companies, government partners and academic institutions to identify and prevent emerging cybersecurity risks.In his role at FTI Consulting, Mr. Carpenter will expand the team’s threat intelligence capabilities, helping clients proactively search for and identify threats by analyzing information on threat actors and their tactics. He will also leverage his experience in the financial services industry to combat cybersecurity threats specific to this market.These latest hires continue the growth of FTI Consulting’s Cybersecurity practice following the recent appointments of Michael J. Driscoll, a Senior Managing Director in New York; Eva Kwok, a Senior Managing Director based in Hong Kong; and Carlos Araujo Jr., a Senior Director based in Brazil.About FTI ConsultingFTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 7,800 employees located in 31 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $3.03 billion in revenues during fiscal year 2022. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.FTI Consulting, Inc. 555 12th Street NW Washington, DC 20004 +1.202.312.9100Investor Contact: Mollie [email protected] Contact: Matthew [email protected]

GlobeNewswire

FTI Consulting Adds Three Senior Cybersecurity Experts, Including Former NCFTA New York Leader

https://finance.yahoo.com/news/fti-consulting-adds-three-senior-113000289.html

92df5a5d-3a16-3dd1-b222-bbc77e621f8f

FCN

FTI Consulting, Inc.BRISBANE, Australia, Sept. 10, 2023 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Tommy Wakefield-Smith as a Senior Managing Director within the firm’s Construction Solutions practice in Australia.Mr. Wakefield-Smith, who is based in Brisbane, is an international construction expert and testifying forensic delay analyst with more than 20 years of experience in engineering and construction projects across Europe, the Middle East and Africa (“EMEA”), and Australia. A member of the Academy of Experts since 2012, Mr. Wakefield Smith is recognised by Who’s Who Legal as a highly regarded Construction Expert Witness.In his role at FTI Consulting, Mr. Wakefield-Smith will provide expert forensic delay analysis, project planning and project controls services in support of lawyers and industry clients in Australia and internationally.“In today’s increasingly complex construction environment, our clients turn to us for advice across all phases of a project life cycle,” said Stephen Rae, Head of the Construction Solutions practice in Australia. “Tommy brings with him a wealth of expertise having worked on some of the largest projects throughout EMEA. In addition to being a testifying delay and disruption expert, Tommy’s experience in project management, risk management and project planning will help our clients looking to achieve the best possible solutions to their operational challenges.”Prior to joining FTI Consulting, Mr. Wakefield-Smith held senior appointments at consulting firms TBH and HKA before leading his own practice as Managing Director of Synel Consulting. He has gained international experience on major international construction projects, including the £16 billion London Crossrail project, a US$3 billion airport terminal in the United Arab Emirates and a US$10 billion power station in South Africa.Commenting on his appointment, Mr. Wakefield-Smith said, “FTI Consulting is known as a trusted advisor to clients, courts and tribunals who are involved in major projects and tackling the most significant disputes in the world. I look forward to working with my new colleagues as we develop and implement holistic solutions to solve our clients’ most pressing business challenges.”Story continuesAbout FTI ConsultingFTI Consulting, Inc. is a global business advisory firm dedicated to helping organisations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 7,800 employees located in 31 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $3.03 billion in revenues during fiscal year 2022. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalised and independently managed. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.FTI Consulting, Inc. Level 20, CP1345 Queen StreetBrisbane, QLD 4000Australia+61 7 3225 4900Investor Contact:Mollie [email protected] Contact:Rebecca Hine+61 7 3225 [email protected]

GlobeNewswire

Tommy Wakefield-Smith Joins FTI Consulting’s Construction Solutions Team in Australia

https://finance.yahoo.com/news/tommy-wakefield-smith-joins-fti-213000550.html

a56f1891-7bcc-35f1-be9f-e7a0f688107a

FCX

(Updates with additional detail from statement)LIMA, Sept 7 (Reuters) - Copper production in Peru rose 17.7% year-over-year in July, the Andean country's ministry of energy and mines said on Thursday, climbing to an output of 229,728 metric tons of the red metal in the month.The rise is thanks to the "optimal performance" of miner Marcobre, controlled by Peru's Minsur and Chile's Copec; as well as the Cerro Verde mine, which is operated by Freeport-McMoRan, the ministry said in a statement.From January to July, copper production rose 19.8% compared to the year-earlier period, the ministry added.Peru is the world's second-largest copper producer, though output saw a hit at the beginning of the year as anti-government protests roiled the nation.The Peruvian government, which expects copper production this year to reach 2.8 million metric tons, has redoubled efforts to boost mining after a May report found the Democratic Republic of Congo could overtake Peru in the next few years.In July, production of other metals such as zinc, lead, iron, tin and molybdenum also rose, the ministry said. (Reporting by Marco Aquino; Writing by Kylie Madry; Editing by Anthony Esposito)

Reuters

UPDATE 1-Peru copper production rises 17.7% y/y in July

https://finance.yahoo.com/news/1-peru-copper-production-rises-180929046.html

c9298427-1cdd-36fa-aa0f-d0117395e07c

FCX

With its stock down 7.4% over the past month, it is easy to disregard Freeport-McMoRan (NYSE:FCX). However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. In this article, we decided to focus on Freeport-McMoRan's ROE.Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. See our latest analysis for Freeport-McMoRan How To Calculate Return On Equity?The formula for return on equity is:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Freeport-McMoRan is:13% = US$3.3b ÷ US$26b (Based on the trailing twelve months to June 2023).The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.13 in profit.What Has ROE Got To Do With Earnings Growth?We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.A Side By Side comparison of Freeport-McMoRan's Earnings Growth And 13% ROETo start with, Freeport-McMoRan's ROE looks acceptable. Even when compared to the industry average of 12% the company's ROE looks quite decent. This certainly adds some context to Freeport-McMoRan's exceptional 21% net income growth seen over the past five years. However, there could also be other drivers behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.Story continuesWe then compared Freeport-McMoRan's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 32% in the same 5-year period, which is a bit concerning.past-earnings-growthEarnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Has the market priced in the future outlook for FCX? You can find out in our latest intrinsic value infographic research report. Is Freeport-McMoRan Making Efficient Use Of Its Profits?Freeport-McMoRan's three-year median payout ratio to shareholders is 13%, which is quite low. This implies that the company is retaining 87% of its profits. So it looks like Freeport-McMoRan is reinvesting profits heavily to grow its business, which shows in its earnings growth.Moreover, Freeport-McMoRan 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. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 21% over the next three years. Still, forecasts suggest that Freeport-McMoRan's future ROE will rise to 16% even though the the company's payout ratio is expected to rise. We presume that there could some other characteristics of the business that could be driving the anticipated growth in the company's ROE.ConclusionIn total, we are pretty happy with Freeport-McMoRan's performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see a good amount of growth in its earnings. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. 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.

Could The Market Be Wrong About Freeport-McMoRan Inc. (NYSE:FCX) Given Its Attractive Financial Prospects?

https://finance.yahoo.com/news/could-market-wrong-freeport-mcmoran-140020844.html

de571560-038e-34d9-902d-fc52b0bf8fb9

FDMT

4D Molecular Therapeutics, Inc.First patient has been enrolled in the Dose Confirmation stage (n=18) of the Phase 2 SPECTRA clinical trial for intravitreal 4D-150 in patients with diabetic macular edemaFirst patient enrolled in Population Extension cohort of Phase 2 stage of PRISM clinical trial in wet AMD (n=up to 45) to evaluate intravitreal 4D-150 in patients with lower anti-VEGF need compared with initial cohortsAll PRISM patient cohorts to inform pivotal clinical trial design for 4D-150; FDA feedback on Phase 3 design expected in Q4 2023 with update expected in Q1 2024Initial interim data for SPECTRA Dose Confirmation and PRISM Population Extension cohort expected in 2024; guidance for randomized Phase 2 stage (n=50) in highest anti-VEGF need patients on-track for H1 2024 EMERYVILLE, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics (Nasdaq: FDMT, 4DMT or the Company), a clinical-stage biotherapeutics company harnessing the power of directed evolution for targeted genetic medicines, today announced that the first patient has been enrolled in the Dose Confirmation stage of the Phase 2 SPECTRA clinical trial evaluating intravitreal 4D-150 in patients with diabetic macular edema (DME), and that a Population Extension cohort has been added to the 4D-150 Phase 2 stage of the PRISM Clinical Trial in wet age-related macular degeneration (wet AMD).“We are delighted to be advancing 4D-150 in our Phase 2 SPECTRA clinical trial in patients with DME, and to further study intravitreal 4D-150 in a broader patient population in wet AMD,” said Robert Kim, M.D., Chief Medical Officer of 4DMT. “DME is a major cause of vision loss among people with diabetes and may lead to blindness. Anti-VEGF agents are considered the mainstay of therapy for DME, yet the treatment burden with the current standard of care remains high. Based on its unique, multitargeted inhibition of four VEGF family members and the favorable clinical profile observed to date in the Phase 1/2 trial in wet AMD, 4D-150 has the potential to provide durable suppression of key pathogenic mediators in DME following a single intravitreal injection that can be administered in-office. In wet AMD, we believe that by expanding the patient population treated with 4D-150, we will further characterize 4D-150 in advance of our planned Phase 3 clinical trials, while taking advantage of strong enrollment momentum at clinical sites to date.”Story continues“The continued rapid advancement of 4D-150 in DME and wet AMD demonstrates our commitment to large-market ophthalmology genetic medicines for patients in need, and shows physicians’ and patients’ interest in the transformative potential of single dose intravitreal 4D-150,” said David Kirn, M.D., Co-founder and Chief Executive Officer of 4DMT. “DME is an important opportunity for 4DMT, and we believe 4D-150’s differentiated profile in wet AMD will drive interest and strong enrollment in the SPECTRA trial. In wet AMD, 4D-150’s promising clinical profile to date in patients with the highest anti-VEGF need has enabled us to expand the PRISM trial to include a broader patient population in the Population Extension cohort. Importantly, we intend to include a broad wet AMD patient population in pivotal Phase 3 clinical trials with 4D-150. We look forward to sharing multiple clinical and regulatory milestones for 4D-150 in 2024.”Phase 2 SPECTRA Clinical Trial (NCT05930561) for Patients with DME: Trial Design Multicenter, randomized, active-controlled, double-masked dose-ranging trial to evaluate the safety and efficacy of intravitreal 4D-150 in adults with DMEConsists of two stages:Dose Confirmation stage (n=18-24), eligible participants randomized 1:1:1 to receive a single intravitreal injection of 5E9 or 1E10 vg/eye of 4D-150 (initial dose levels) or aflibercept control (n=6 per cohort)Dose Expansion stage (n=54), eligible participants randomized 1:1:1 to receive a single intravitreal injection of 4D-150 at one of two dose levels based on results from Dose Confirmation, or aflibercept control (n=18 per cohort)Key enrollment criteria:Adult patients with diabetes mellitus with macular thickening secondary to DME involving the center of the fovea and decreased visual acuity attributable primarily to DMEStudy enrolls both treatment-naïve and treatment-experienced DME patientsKey endpoints:Primary endpoint: annualized number of aflibercept injections in study eyeAdditional endpoints include:Incidence and severity of adverse eventsChanges from baseline in best-corrected visual acuity (BCVA) and central subfield thickness (CST)Percentage of subjects with a ≥2 and ≥3-Step Diabetic Retinopathy Severity (DRS) improvement from baseline on the Early Treatment Diabetic Retinopathy Study Diabetic Retinopathy Severity Scale (ETDRS-DRSS)Population Extension Cohort of Phase 2 Stage of PRISM Clinical Trial (NCT05197270) for Patients with Wet AMD Open-label evaluating intravitreal 4D-150 3E10 and 1E10 vg/eye dose levels in patients with wet AMDKey enrollment criteria:Currently receiving anti-VEGF treatment in the study eye and have demonstrated a clinical response1-6 anti-VEGF injections in last 12 months, in contrast to initial Phase 1/2 cohorts in which patients required ≥6 anti-VEGF injections in last 12 monthsFirst patient has been enrolled in this cohortExpected Upcoming Milestones for 4D-150 for Wet AMD and DMEPRISM Phase 2 Dose Expansion (n=50) initial interim data expected in H1 2024Update regarding Phase 3 pivotal trial plans for wet AMD expected in Q1 2024 following initial discussion with FDA in Q4 2023Initial interim data from 4D-150 DME Phase 2 Dose Confirmation stage expected in 2024Initial interim data from 4D-150 wet AMD Population Extension cohort expected in 2024About 4D-150 for Wet AMD and DME4D-150 comprises our customized and evolved intravitreal vector, R100, and a transgene cassette that expresses both aflibercept and a VEGF-C inhibitory RNAi. This dual-transgene payload inhibits 4 angiogenic factors that drive wet AMD and DME: VEGF A, B, C and PlGF. R100 was invented at 4DMT through our proprietary Therapeutic Vector Evolution platform; we created this platform utilizing principles of directed evolution, a Nobel Prize-winning technology. 4D-150 is designed for single, low-dose intravitreal delivery.About DMEDME is a highly prevalent disease with significant unmet medical need. It is estimated that there are approximately one million individuals with DME in the United States according to published data. DME is characterized by swelling in the macula due to leakage from blood vessels. This can lead to blurred vision. DME is typically treated with intravitreal anti-VEGF agents administered approximately every 4-12 weeks.About Wet AMDWet AMD is a highly prevalent disease with estimated incidence rate of 200,000 new patients per year in the United States. Wet AMD is a type of macular degeneration where abnormal blood vessels (choroidal neovascularization or CNV) grow into the macula, the central area of the retina. As a consequence, CNV causes swelling and edema of the retina, bleeding and scarring, and causes visual distortion and reduced acuity. The proliferation and leakage of abnormal blood vessels is stimulated by VEGF. This process distorts and can potentially destroy central vision and may progress to blindness without treatment.About 4DMT4DMT is a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large market diseases. 4DMT seeks to unlock the full potential of genetic medicines using its proprietary invention platform, Therapeutic Vector Evolution, which combines the power of the Nobel Prize-winning technology, directed evolution, with approximately one billion synthetic AAV capsid-derived sequences to invent customized and evolved vectors for use in our product candidates. All of our vectors are proprietary to 4DMT and were invented at 4DMT, including the vectors utilized in our clinical-stage and preclinical pipeline product candidates: R100, A101, and C102. The Company is initially focused on five clinical-stage product candidates in three therapeutic areas for both rare and large market diseases: ophthalmology, pulmonology, and cardiology. The 4DMT customized and evolved vectors were invented with the goal of being delivered at relatively low doses through clinically routine, well-tolerated, and minimally invasive routes of administration, transducing diseased cells in target tissues efficiently, having reduced immunogenicity and, where relevant, having resistance to pre-existing antibodies. 4DMT is currently advancing five product candidates in clinical development: 4D-150 for wet AMD and DME, 4D-710 for cystic fibrosis lung disease, 4D-310 for Fabry disease cardiomyopathy, 4D-125 for XLRP, and 4D-110 for choroideremia. The 4D preclinical product candidates in development are: 4D-175 for geographic atrophy and 4D-725 for AATLD.4D-150, 4D-710, 4D-310, 4D-125, and 4D-110 are our product candidates in clinical development and have not yet been approved for marketing by the US FDA or any other regulatory authority. No representation is made as to the safety or effectiveness of 4D-150, 4D-710, 4D-310, 4D-125, or 4D-110 for the therapeutic uses for which they are being studied.4D Molecular Therapeutics™, 4DMT™, Therapeutic Vector Evolution™, and the 4DMT logo are trademarks of 4DMT.Forward Looking Statements:This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements regarding the therapeutic potential, and clinical benefits of 4DMT’s product candidates, as well as the plans, announcements and related timing for the clinical development of 4D-150. The words "may," “might,” "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," “expect,” "estimate," “seek,” "predict," “future,” "project," "potential," "continue," "target" and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including risks and uncertainties that are described in greater detail in the section entitled "Risk Factors" in 4D Molecular Therapeutics’ most recent Quarterly Report on Form 10-Q as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent 4D Molecular Therapeutics' views only as of today and should not be relied upon as representing its views as of any subsequent date. 4D Molecular Therapeutics explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward looking statements.Contacts:Media:Katherine SmithEvoke [email protected]:Julian PeiHead of Investor Relations and Corporate [email protected]

GlobeNewswire

4DMT Announces First Patient Enrolled in 4D-150 Phase 2 SPECTRA Clinical Trial in DME, and Expansion of 4D-150 Phase 2 Stage in PRISM Clinical Trial in Wet AMD

https://finance.yahoo.com/news/4dmt-announces-first-patient-enrolled-120000983.html

add9d63b-8d38-3a6b-b80c-9e615b14bead

FDMT

4D Molecular Therapeutics, Inc.EMERYVILLE, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics, Inc. (Nasdaq: FDMT, 4DMT), a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large market diseases, announced today that management will present company overviews and participate in fireside chats at upcoming investor conferences in September and October. Members of the management team will also be available for one-on-one meetings in connection with these meetings.H.C. Wainwright 25th Annual Global Investor ConferencePresentation Date:Monday, September 11, 2023Presentation Time:12:00 p.m. ETLocation:Lotte New York Palace Hotel, New York, NYWebcast Link:Webcast  Jefferies Cell & Genetic Medicine SummitPresentation Date:Tuesday, September 26, 2023Presentation Time:8:30 a.m. ETLocation:Jefferies Conference Center, New York, NYWebcast Link:Webcast  Cantor Fitzgerald Global Healthcare ConferencePresentation Date:Thursday, September 28, 2023Presentation Time:1:50 p.m. ETLocation:InterContinental Barclay Hotel, New York, NYWebcast Link:Webcast  Chardan's 7th Annual Genetic Medicines ConferencePresentation Date:Monday, October 2, 2023Presentation Time:2:30 p.m. ETLocation:Westin Grand Central, New York, NYWebcast Link:Webcast  Archived copies of the webcasts will be available for up to one year by visiting the “Investors” section of the 4DMT website at https://ir.4dmoleculartherapeutics.com/events.About 4DMT4DMT is a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large market diseases. 4DMT seeks to unlock the full potential of genetic medicines using its proprietary invention platform, Therapeutic Vector Evolution, which combines the power of the Nobel Prize-winning technology, directed evolution, with approximately one billion synthetic AAV capsid-derived sequences to invent customized and evolved vectors for use in our product candidates. All of our vectors are proprietary to 4DMT and were invented at 4DMT, including the vectors utilized in our clinical-stage and preclinical pipeline product candidates: R100, A101, and C102. The Company is initially focused on five clinical-stage product candidates in three therapeutic areas for both rare and large market diseases: ophthalmology, pulmonology, and cardiology. The 4DMT customized and evolved vectors were invented with the goal of being delivered at relatively low doses through clinically routine, well-tolerated, and minimally invasive routes of administration, transducing diseased cells in target tissues efficiently, having reduced immunogenicity and, where relevant, having resistance to pre-existing antibodies. 4DMT is currently advancing five product candidates in clinical development: 4D-150 for wet AMD and DME, 4D-710 for cystic fibrosis lung disease, 4D-310 for Fabry disease cardiomyopathy, 4D-125 for XLRP, and 4D-110 for choroideremia. The 4D preclinical product candidates in development are: 4D-175 for geographic atrophy and 4D-725 for AATLD.Story continues4D-150, 4D-710, 4D-310, 4D-125, and 4D-110 are our product candidates in clinical development and have not yet been approved for marketing by the US FDA or any other regulatory authority. No representation is made as to the safety or effectiveness of 4D-150, 4D-710, 4D-310, 4D-125, or 4D-110 for the therapeutic uses for which they are being studied.4D Molecular Therapeutics™, 4DMT™, Therapeutic Vector Evolution™, and the 4DMT logo are trademarks of 4DMT.Contacts:Media:Katherine SmithEvoke [email protected]:Julian PeiHead of Investor Relations and Corporate [email protected]

GlobeNewswire

4DMT to Participate in Upcoming Investor Conferences

https://finance.yahoo.com/news/4dmt-participate-upcoming-investor-conferences-200500183.html

4dec95bc-c04a-3da8-9f95-9ecf03d63a66

FDS

FactSet Research Systems Inc. FDS has had an impressive run over the past three months. The stock has gained 9.3%, outperforming the 6.9% rally of the industry it belongs to and the 5.3% growth of the Zacks S&P 500 composite.Drivers of the RallyFactSet has been engaged for more than 40 years in delivering extensive data, sophisticated analytics and flexible technology to global financial professionals, and is currently benefiting from a growing customer base and strong global presence.FactSet Research Systems Inc. PriceFactSet Research Systems Inc. PriceFactSet Research Systems Inc. price | FactSet Research Systems Inc. QuoteThe company added 40 clients in the third quarter of 2023, driven by an increase in corporate and wealth clients, taking the total client count to 7,770. The annual client retention rate was 92%. FactSet’s Organic Annual Subscription Value plus professional services were up 8% year over year.FactSet maintains a performance-based organizational culture with a focus on talent and technology. The company remains focused on expanding its digital platform, delivering cloud-based data and analytics to clients. It emphasizes the extensive use of technology to fast-track product creation and content collection.The recent acquisition of idaciti supports FactSet’s ongoing initiative to digitally revamp its content collection infrastructure, while also expediting the availability of essential data sets that underpin advanced future workflows. The 2022 acquisition of CUSIP Global Services has strengthened the company’s position in the global capital markets.Favorable Estimate RevisionsThe direction of estimate revisions serves as an important pointer when it comes to the price of a stock. One estimate for 2023 has moved north over the past 60 days versus no southward revision, reflecting analysts’ confidence in the company. Over the same period, the Zacks Consensus Estimate for 2023 earnings has increased 0.3%.Zacks Rank and Other Stocks to ConsiderFactSet currently carries a Zacks Rank #2 (Buy).Story continuesThe following stocks from the Business Services sector are also worth consideration:DocuSign DOCU beat the Zacks Consensus Estimate in all the four trailing quarters and has an earnings surprise of 25.6%. The consensus estimate for 2023 earnings is pegged at $2.52 per share, indicating 24.1% year-over-year growth. The consensus mark for 2023 revenues indicates an 8.1% increase from the year-ago figure. DOCU currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.CRA International CRAI beat the Zacks Consensus Estimate in two of the four trailing quarters and missed on two instances, the average earnings surprise being 5.1%. The current Zacks Consensus Estimate for 2023 revenues indicates a 6.6% increase from the year-ago figure. The consensus mark for earnings is pegged at $5.49 per share, indicating a 7.6% year-over-year decline. CRAI carries a Zacks Rank #2, at present.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 reportCharles River Associates (CRAI) : Free Stock Analysis ReportFactSet Research Systems Inc. (FDS) : Free Stock Analysis ReportDocuSign (DOCU) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

FactSet (FDS) Stock Gains 9% in Three Months: Here's How

https://finance.yahoo.com/news/factset-fds-stock-gains-9-171700201.html

6b329ce1-32f4-3e76-8794-e8389b86bab8

FDS

Baron Funds, an investment management company, released its “Baron Partners Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The fund outperformed both its benchmarks and returned 15.54% (Institutional Shares) in the second quarter. The Russell Midcap Growth Index (the Index) and the S&P 500 Index returned 6.23% and 8.74%, respectively, during the same period. The fund appreciated 42.59% year-to-date compared to 15.94% and 16.89%, respectively for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.Baron Partners Fund highlighted stocks like FactSet Research Systems Inc. (NYSE:FDS) in the Q2 2023 investor letter. Headquartered in Norwalk, Connecticut, FactSet Research Systems Inc. (NYSE:FDS) provides financial data and analytics to the investment community. On September 1, 2023, FactSet Research Systems Inc. (NYSE:FDS) stock closed at $435.48 per share. One-month return of FactSet Research Systems Inc. (NYSE:FDS) was 2.52%, and its shares gained 1.17% of their value over the last 52 weeks. FactSet Research Systems Inc. (NYSE:FDS) has a market capitalization of $16.612 billion.Baron Partners Fund made the following comment about FactSet Research Systems Inc. (NYSE:FDS) in its Q2 2023 investor letter:"Shares of FactSet Research Systems Inc. (NYSE:FDS), a leading provider of investment management tools, detracted from performance. The company reported solid fiscal third quarter 2023 earnings, and its business continues to perform well. Regardless, FactSet’s stock fell as macro-related uncertainty (challenges in the banking sector, lengthening sales cycles, constrained client budgets) caused annual subscription value (ASV) growth to decelerate and management had to guide ASV growth towards the lower end of its projected range. While there is some near-term uncertainty, we believe these issues are more cyclical in nature (as opposed to secular). We retain long-term conviction in FactSet due to its large addressable market, consistent execution on both new product development and financial results, and robust free-cash-flow generation."Story continuesSpeedcurve Performance AnalyticsFactSet Research Systems Inc. (NYSE:FDS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held FactSet Research Systems Inc. (NYSE:FDS) at the end of second quarter which was 36 in the previous quarter.We discussed FactSet Research Systems Inc. (NYSE:FDS) in another article and shared Conestoga Mid Cap Strategy's views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles:20 Most Addictive Foods According to Science20 Best Craft Breweries in America10 Best Plant-Based Meat Companies to BuyDisclosure: None. This article is originally published at Insider Monkey.

Insider Monkey

FactSet Research Systems (FDS) Stock Fell on Macro-Related Uncertainty

https://finance.yahoo.com/news/factset-research-systems-fds-stock-120958226.html

fce68f9e-0545-3816-a28c-3e373258abc3

FDX

In this article, we look at the 25 most educated small towns in America. You can skip our detailed analysis on educational attainment in micropolitan statistical areas, and head over directly to the 10 Most Educated Small Towns in America.The US Census Bureau in February 2022 released statistics detailing educational attainment levels in the country. According to the data, 37.9% of Americans aged 25 and above had completed education up to bachelor’s degree, or higher. Nearly 15% had some college education, while 10.5% held associate degrees. Later that year, the Bureau of Labor Statistics (BLS) established in a report the direct positive relationship that exists between income and educational levels. You can read more about the findings of BLS in our article, 20 Most Educated Cities in the US.Educational institutions have, for decades, been a lifeline for small towns, by enabling the youth access to steady, well-paying jobs. Better school and college education boosts academic achievements, opening the doors for long-run economic prospects, not just for the students but also for their regions. Educational support programs initiated by large corporations have also aided students belonging to smaller, underserved areas. TechSpark, for example, is a national civic program started by Microsoft Corporation (NASDAQ:MSFT) in 2017 to accelerate economic growth and job creation in rural, micropolitan, and smaller metropolitan areas targeting specific communities in Washington, Texas, Virginia, North Dakota, Wyoming, and Wisconsin.Microsoft Corporation (NASDAQ:MSFT)’s TechSpark program is focused on digital and career skills development, and has done wonders in Northeast Wisconsin where now 88% of the schools offer computer education. Microsoft Corporation (NASDAQ:MSFT) is also offering free cyber security training to students at the Jackson State University in Mississippi to upskill them as per the requirements of the workplace.Story continuesSeveral companies have also come up with their education fee reimbursement programs to encourage their employees to seek college education. Many companies even offer to sponsor tuition and fees for children of their employees. With rising costs of living and given the fact that residents of smaller towns and cities tend to have lower median household incomes compared to their compatriots settled in larger cities, these fee reimbursement programs offer a great opportunity for the youth in smaller towns to pursue education.FedEx Corporation (NYSE:FDX) offers delivery services across the 50 states and employs more than 500,000 workers across large metropolitans and small towns. Its tuition reimbursement program allows ground package handlers to claim up to $5,250 to pay for tuition and fees. Moreover, a partnership between the company and Robert Morris University offers FedEx Corporation (NYSE:FDX) employees to get enrolled for online university education at a discount.Amazon.com, Inc. (NASDAQ:AMZN) too, in 2021, announced that it would spend a whopping $1.2 billion on education and training programs for its workforce. Employees working on an hourly wage would be eligible for coverage up to 100% of the cost of tuition and fees for their college education. This program is likely to benefit up to 750,000 employees.In addition to offering incentive programs to promote education, Amazon.com, Inc. (NASDAQ:AMZN) is also undertaking measures to make education more accessible and affordable for all. The company will be launching 3,000 satellites under Project Kuiper to provide affordable broadband services to underserved communities and regions. If the project succeeds, Amazon.com, Inc. (NASDAQ:AMZN) will be enabling millions of people across the world to access high quality education services over the internet.MethodologyWe have ranked the 25 most educated small towns in America using data released by the Census Bureau in its 2021 American Community Survey on education levels in micropolitan statistical areas in the United States. The maximum population cap was set to 75,000. Micropolitans include principal cities or towns along with surrounding areas nearby.Two metrics have been considered in our analysis – percentage of the population aged between 18 and 24 with some college or associate degree, and percentage of the population that is 25 and above and holds a bachelor’s degree or higher. Equal weightage has been assigned to these two metrics, after which their scores were aggregated.Towns are ranked in ascending order of these scores. In case where scores were equal for two or more towns, we outranked one over the other by considering which of these had a higher percentage of bachelor’s degree or higher education.25 Most Educated Small Towns in AmericaLet's now head over to the list of the most educated small towns in America.25. Lake City, FL Micro AreaPopulation: 69,698Percentage of population aged between 18-24 with a college or associate degree: 33.1%Percentage of population aged 25 and above with a bachelor’s degree or higher: 18.3%Score: 0.51Lake City’s bachelor’s degree attainment level is about half the rate of Florida, but when it comes to college education, the micropolitan not only fares better than the state, but also has a 25% higher rate than the United States on the whole.24. Wisconsin Rapids-Marshfield, WI Micro AreaPopulation: 74,207Percentage of population aged between 18-24 with a college or associate degree: 33.6%Percentage of population aged 25 and above with a bachelor’s degree or higher: 18.4%Score: 0.5247% of the population in Wisconsin Rapids-Marshfield is aged below 40. The micropolitan has a median household income of $52,627, which is about three-quarters of what an average American earns. 5% of the people aged 25 and above hold a postgraduate degree in Wisconsin-Rapids-Marshfield.23. Baraboo, WI Micro AreaPopulation: 65,763Percentage of population aged between 18-24 with a college or associate degree: 22.2%Percentage of population aged 25 and above with a bachelor’s degree or higher: 29.8%Score: 0.52More than half of the population in Baraboo is aged above 40. It ranks among the most educated small towns in America with 94.1% of the population having completed at least high school graduation. The micro area fares better in terms of higher education attainment compared to college education, which is a rare occurrence.22. Marion, OH Micro AreaPopulation: 65,359Percentage of population aged between 18-24 with a college or associate degree: 39.4%Percentage of population aged 25 and above with a bachelor’s degree or higher: 13.8%Score: 0.53Marion, in Ohio, has one of the highest rates of high school graduates in the United States, and its college or associate degree attainment levels are also higher than both the national and state average. However, only 13.8% of its population has completed at least a bachelor’s degree.21. Fort Payne, AL Micro AreaPopulation: 71,608Percentage of population aged between 18-24 with a college or associate degree: 40.2%Percentage of population aged 25 and above with a bachelor’s degree or higher: 13.6%Score: 0.54Fort Payne has a rich history in textile manufacturing and is often referred to as the sock capital of the world. It has a high ratio of the youth completing their college or associate degree, but at the same time, an estimated 22% of the population has no degree – not even high school.20. Hobbs, NM Micro AreaPopulation: 74,455Percentage of population aged between 18-24 with a college or associate degree: 38.9%Percentage of population aged 25 and above with a bachelor’s degree or higher: 16.5%Score: 0.55Hobbs is the principal city of the Hobbs micropolitan statistical area of New Mexico. The settlement was founded in 1907 and expanded after discovery of oil in the area in 1927. There are two prominent educational institutions offering college education in Hobbs – New Mexico Junior College, and the University of the Southwest which was initially called College of the Southwest.19. Rio Grande City-Roma, TX Micro AreaPopulation: 65,920Percentage of population aged between 18-24 with a college or associate degree: 43.9%Percentage of population aged 25 and above with a bachelor’s degree or higher: 12.7%Score: 0.57The population of Rio Grande is predominantly Hispanic. 99.6% of the teachers here are licensed and have at least three years of experience, according to US News. The student-to-teacher ratio in Rio Grande is 13:1. It is one of the most educated small towns in America with high rates of college or associate degree attainment in the country.18. Roanoke Rapids, NC Micro AreaPopulation: 66,093Percentage of population aged between 18-24 with a college or associate degree: 41Percentage of population aged 25 and above with a bachelor’s degree or higher: 15.6%Score: 0.57The Roanoke Rapids micropolitan comprises Roanoke Rapids plus two counties of North Carolina. There are about 21 colleges in Roanoke and surrounding areas within 50 miles. More than 170,000 students are enrolled in these colleges. 6% of the population in the micro area hold a postgraduate degree.17. Mount Airy, NC Micro AreaPopulation: 71,359Percentage of population aged between 18-24 with a college or associate degree: 36.9%Percentage of population aged 25 and above with a bachelor’s degree or higher: 20.1%Score: 0.58Mount Airy’s rate of college education is 20% higher than the state average in North Carolina. It is one of the most educated small towns in America. Mount Airy High School is considered among the top ten schools in the state of North Carolina. 8% of the population aged 25 and above have completed a master’s or another advanced degree.16. Alamogordo, NM Micro AreaPopulation: 67,839Percentage of population aged between 18-24 with a college or associate degree: 36.7%Percentage of population aged 25 and above with a bachelor’s degree or higher: 21.1%Score: 0.59Alamogordo, in New Mexico, has a median household income of $51,214, which is close to the state average. More than 80% of the population here is under the age of 65. Alamogordo’s youth has a high rate of educational attainment. 33% of the population in the town has completed high school education, which is 25% higher than the national average.15. Shawnee, OK Micro AreaPopulation: 72,454Percentage of population aged between 18-24 with a college or associate degree: 42.4%Percentage of population aged 25 and above with a bachelor’s degree or higher: 19.1%Score: 0.62Next on our list of the most educated small towns in America is Shawnee in Oklahoma, which is an agricultural center for the growth of cotton, potatoes, and peaches. Shawnee is home to two universities and several public schools and colleges.14. Greeneville, TN Micro AreaPopulation: 70,152Percentage of population aged between 18-24 with a college or associate degree: 40.6%Percentage of population aged 25 and above with a bachelor’s degree or higher: 21%Score: 0.62Greeneville is a small town in Tennessee that is named after General Nathanael Greene, a Revolutionary War hero. 89.1% of the population here has at least a high school diploma, which is nearly the same rate in both the state of Tennessee and the United States. Greeneville micro area is home to several top educational institutions, including the Walters State Community College and Tusculum University.13. Morehead City, NC Micro AreaPopulation: 67,686Percentage of population aged between 18-24 with a college or associate degree: 29.9%Percentage of population aged 25 and above with a bachelor’s degree or higher: 32.5%Score: 0.625Morehead City is a highly educated town in North Carolina. It has a median household income of nearly $63,000 which is higher than the state average, and over 90% of the amount in the United States. 14% of the population aged 25 and above in Morehead has completed a postgraduate degree.12. Somerset, KY Micro AreaPopulation: 65,034Percentage of population aged between 18-24 with a college or associate degree: 46.6%Percentage of population aged 25 and above with a bachelor’s degree or higher: 16%Score: 0.63Nearly half of Somerset’s youth have a college or associate degree. The micropolitan statistical area is one of the most educated small towns in America. There are about 10 colleges in the micro area. More than 13,000 students in 2021 completed degree programs in and around Somerset.11. North Wilkesboro, NC Micro AreaPopulation: 65,969Percentage of population aged between 18-24 with a college or associate degree: 44.8%Percentage of population aged 25 and above with a bachelor’s degree or higher: 19.5%Score: 0.64North Wilkesboro is a town in North Carolina’s Wilkes County. It is one of the most educated small towns in America. More than 80% of the youth in the micro area have completed at least a high school diploma, while more than two-fifths hold a college or associate degree. The Appalachian State University is located 28 miles from North Wilkesboro and has more than 20,000 students enrolled.Click to continue reading and see the 10 Most Educated Small Towns in America.Suggested Articles:20 Most Educated States in America20 Least Educated States in America15 States With The Lowest College Tuition and FeesDisclosure: None. 25 Most Educated Small Towns in America is originally published on Insider Monkey.

Insider Monkey

25 Most Educated Small Towns in America

https://finance.yahoo.com/news/25-most-educated-small-towns-170056439.html

f8b68320-fb81-3dba-bad5-37aabfe31a31

FDX

FedEx keeps most rate, surcharge hikes in single-digit range. (Photo: Jim Allen/FreightWaves)The dust has settled on FedEx Corp.’s and UPS Inc.’s headline tariff rate increases for 2024. Both carriers have clocked in with 5.9% general rate increases (GRIs), 100 basis points below the record 6.9% increases for 2023.As always, though, the real action is going on under the hood. The carriers will go to market with an array of rate increases and delivery surcharges that vary depending on the specific service, distance, weight and other factors. Those are the numbers that shippers and their parcel consultant partners will be watching, and that they will bargain from, as contracts get negotiated or renegotiated. Almost all parcel-delivery services are based on contracts rather than one-off or occasional services where a tariff rate might apply.UPS (NYSE: UPS), which announced its 2024 GRI Thursday night, has yet to publish its rate schedule for next year. FedEx, which generally acts before its rival, went out with its GRI on Aug. 29 and published its rate and surcharge details Thursday.One unusual move is that FedEx (NYSE: FDX) will hike its ground-delivery minimum charge by 5.9% to $10.70, matching its GRI increase. Hikes in ground minimums, which have been on a steady rise for years, typically exceed the pace of GRI increases, according to Paul Yaussy, senior professional services consultant for Shipware LLC, a consultancy. Next year will be different, however.FedEx will impose a 7.9% increase to its minimum charge for next-business-morning deliveries known as Priority Overnight. This brings the levy to $39.96, according to data from TransImpact LLC, a consultancy. Second-day delivery minimums will rise to $23.83, a 5.5% increase, according to the consultancy.FedEx’s ground rates will vary depending on package weight. Rate increases will be below the headline GRI for parcels weighing up to 10 pounds, according to data from AFS Logistics Inc., a non-asset-based provider that negotiates, audits and pays about $4 billion in annual parcel expenditures. From there, rate increases will exceed 6%, peaking at 6.71% for parcels weighing between 51 and 70 pounds.Story continuesFedEx will hike rates, on average, by 6.19% across all weight breaks, which includes parcels over 70 pounds, according to AFS.On its primary surcharges, FedEx is keeping increases in the single digits. This may be a response to the blah demand environment and shipper resistance to double-digit surcharge increases that have been the norm in recent years.It may also be a way to pressure UPS, which must manage through very high labor cost increases during the first year of a five-year contract with the Teamsters union, while winning back business diverted to rivals during the weeks and months leading up to the contract’s Aug. 22 ratification. Yaussy said that UPS’ rates and surcharges will come close to matching FedEx’s, although the labor cost pressures may compel UPS to impose higher surcharges and hope its shippers won’t notice.Residential delivery surcharges on FedEx’s Home Delivery product will be capped at 7.7%, while surcharges on deliveries made by FedEx Express will be held to 6%, according to TransImpact.Delivery area surcharge increases will range between 5.4% and 8.9%, depending on whether a package is shipped via air or ground, as well as the distance the package has to travel. The longer the trip and the longer the package is in the FedEx system, the higher the surcharge will be.Outlier surcharges, such as for additional handling services, will jump substantially, reflecting FedEx’s higher costs to process shipments requiring special services, as well as its desire not to handle them at all because the shipments might not move optimally through an automated operation. For a shipment whose actual weight is more than 50 pounds and requires special handling, the surcharge will jump 19% to 26.1% depending on the distance traveled, according to Shipware data. For shipments whose dimensions exceed FedEx’s handling requirements, surcharges will increase by 18.9% to 27.7%. For shipments whose packaging doesn’t comport with FedEx requirements, the levies will increase by 18.2% to 22%.FedEx will also impose punishing surcharges on super-large shipments that exceed the dimensional limits covered under the additional-handling charges. Those levies will increase in a range of 18.5% to 24.2%, depending on the delivery distance and whether the package is destined for a residential or commercial address.The pace of surcharge increases may have moderated from recent years when the pandemic fueled off-the-chart leaps in delivery demand. Still, they are well above current inflation rates, meaning they are ripe for being beaten back by shippers already operating in a slower demand climate.“In the current market, all shippers should be negotiating these charges down. Because the rates go up at such a high rate, even higher than the rate of inflation, every year, the carriers are practically inviting a negotiation of the rates,” said Yaussy.Yaussy advised shippers to begin negotiating before the new rates take effect as long as it’s been at least a year since the prior negotiation and there are no contractual terms prohibiting a reopening of the contract.FedEx’s 2024 rate and surcharge changes take effect Jan. 1. UPS’ take effect Dec. 26.Jey Yokeley, vice president, parcel sales at TransImpact, said that shippers who send significant volumes and have long-standing relationships with their carriers are in an advantageous negotiating position. “A high-volume shipper is more valuable to a carrier in the current environment. Unlike the last couple of years when national carriers limited their commitment to large-scale shippers, the current environment has created an enhanced focus on protecting higher volume clients by the carriers to maintain volume thresholds and increase density within their networks,” he said.Shippers who can demonstrate a willingness or ability to switch to alternative carriers can sometimes use this as a negotiating point, particularly in the current market where carriers are hyper-focused on converting new business opportunities and are willing to pay for it, Yokeley saId.Most shippers have contracts allowing for unrestricted reviews or renegotiations, Yokeley said. “Just as the carriers possess the ability to implement annual rate hikes and seasonal surcharges at their discretion, shippers equally withhold the power to renegotiate and reduce their costs on a regular cadence,” he said.The post FedEx keeps rate, surcharge increases relatively modest for ’24 appeared first on FreightWaves.

FreightWaves

FedEx keeps rate, surcharge increases relatively modest for ’24

https://finance.yahoo.com/news/fedex-keeps-rate-surcharge-increases-182203131.html

363462ad-0d07-356c-b30e-04b7efd89ab8

FE

MORRISTOWN, N.J., Sept. 8, 2023 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) subsidiary Jersey Central Power & Light (JCP&L) is teaming with New Jersey Natural Gas (NJNG) and other community organizations to host Energy Assistance Days in local communities. The events will take place in Monmouth, Morris and Ocean counties in September and October.JCP&L Logo (PRNewsfoto/FirstEnergy Corp.)Energy Assistance Days provide customers the opportunity to sign up for special financial assistance programs to help pay their utility bills and gather information on energy efficiency programs that could help make their monthly bills more affordable. Representatives from JCP&L and several community agencies will be on hand to answer questions and help customers sign up for programs for which they are eligible.To complete the required application on the day of the event, customers should bring their Social Security card, proof of income for all adult household residents, deed or rental lease and a recent electric bill.The Energy Assistance Days locations and dates include:In Monmouth County:Sept. 8: Freehold Family YMCA, 470 East Freehold Rd., Freehold, 10 a.m. to 5 p.m.Sept. 22: Bayshore Senior Day Center, 100 Main St., Keansburg, 9 a.m. to 6 p.m.Sept. 26: Family & Children's Services, 191 Bath Ave., Long Branch, 10 a.m. to 5 p.m.Oct. 2: The Salvation Army, 605 Asbury Ave., Asbury Park, 9:30 a.m. to 6 p.m.Oct. 3: Union Beach Municipal Complex, 650 Poole Ave., Union Beach, 10 a.m. to 5 p.m.Oct. 10: Neptune Twp. Public Library, 25 Neptune Blvd., Neptune, 10 a.m. to 5 p.m.Oct. 17: St. James' Episcopal Church, 300 Broadway, Long Branch, 10 a.m. to 5 p.m.Oct. 26: Howell Twp. Municipal Building, 4567 Route 9, Howell, 10 a.m. to 5 p.m.In Morris County: Sept. 11: The Salvation Army Community and Worship Center, 76 North Bergen St., Dover, 10 a.m. to 5 p.m.Oct. 11: Denville Twp. Municipal Building, 1 St. Mary's Place, Denville, 10 a.m. to 6 p.m.Oct. 16: Interfaith Food Pantry Network, 2 Executive Dr., Morris Plains, 10 a.m. to 5 p.m.Oct. 24: Dover Public Schools (Administration Building), 21 Belmont Ave., Dover, 10 a.m. to 4 p.m.Story continuesIn Ocean County: Sept. 7: St. Luke's Roman Catholic Church, 1674 Old Freehold Rd., Toms River, 10 a.m. to 5 p.m.Sept. 12: Ocean County Library, 301 Lexington Ave., Lakewood, 10 a.m. to 5 p.m.Sept. 14: Jackson Twp. Senior Center, 45 Don Connor Blvd., Jackson, 9 a.m. to 4 p.m.Sept. 18: St. Francis Community Center, 4700 Long Beach Blvd., Long Beach Twp., 10 a.m. to 5 p.m.Sept. 20: Berkeley Twp. Recreation Center, 630 Atlantic City Blvd., Bayville, 10 a.m. to 5 p.m.Sept. 29: Church of the Visitation, 755 Mantoloking Rd., Brick, 10 a.m. to 5 p.m.Sept. 30: The Church of Grace and Peace, 1563 Old Freehold Rd., Toms River, 10 a.m. to 2 p.m.Oct. 6: St. Barnabas Catholic Church (Fr. Brennan Hall), 33 Woodland Rd., Bayville, 10 a.m. to 5 p.m.Oct. 13: Edward Thornton Little Egg Harbor Community Center, 319 W. Cala Breeze Way, Little Egg Harbor, 10 a.m. to 5 p.m.Oct. 18: JBJ Soul Kitchen, 1769 Hooper Ave., Toms River, 10 a.m. to 3 p.m.To learn more about payment assistance programs for JCP&L customers, please visit www.firstenergycorp.com/billassistnj. Additional information about energy efficiency and conservation programs available to JCP&L customers can be found at www.energysavenj.comJCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/jcpl-joining-with-community-agencies-for-energy-assistance-days-to-help-customers-pay-utility-bills-301921954.htmlSOURCE FirstEnergy Corp.

PR Newswire

JCP&L Joining with Community Agencies for Energy Assistance Days to Help Customers Pay Utility Bills

https://finance.yahoo.com/news/jcp-l-joining-community-agencies-123900367.html

e4d2b529-f530-3542-85b1-045bb3e5d17b

FE

Investors interested in Utility - Electric Power stocks are likely familiar with FirstEnergy (FE) and NextEra Energy (NEE). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.Currently, FirstEnergy has a Zacks Rank of #2 (Buy), while NextEra Energy has a Zacks Rank of #3 (Hold). This means that FE's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. However, value investors will care about much more than just this.Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.FE currently has a forward P/E ratio of 14.04, while NEE has a forward P/E of 21.30. We also note that FE has a PEG ratio of 2.18. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. NEE currently has a PEG ratio of 2.54.Another notable valuation metric for FE is its P/B ratio of 1.85. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, NEE has a P/B of 2.50.These metrics, and several others, help FE earn a Value grade of B, while NEE has been given a Value grade of D.Story continuesFE sticks out from NEE in both our Zacks Rank and Style Scores models, so value investors will likely feel that FE is the better option right now.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 reportFirstEnergy Corporation (FE) : Free Stock Analysis ReportNextEra Energy, Inc. (NEE) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

FE vs. NEE: Which Stock Is the Better Value Option?

https://finance.yahoo.com/news/fe-vs-nee-stock-better-154006242.html

f77685ec-a1fc-3361-a971-d20519b91e3c

FEIM

Frequency Electronics, Inc. (NASDAQ:FEIM) Q4 2023 Earnings Call Transcript July 14, 2023Operator: Greetings, and welcome to the Frequency Electronics Fiscal Yearend '23 Earnings Release Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Any statements made by the company during this conference call regarding the future, constitute forward-looking statements, pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements inherently involve uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences are included in the company's press releases and are further detailed in the company's periodic report filings with the Securities and Exchange Commission.By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this conference call. It is now my pleasure to introduce your host, Thomas McClelland, President and Chief Executive Officer.Thomas McClelland: Thank you, and welcome everyone. Today, it's almost exactly one year since I inherited the role of CEO and President of Frequency Electronics. And I find myself reflecting on what has transpired during the last year. It's certainly been a challenge. Overall, it has been a very positive experience. And I look forward to a continuation of that experience over the next couple of years. There will be more challenges, but I feel confident that the company is on a solid path to continued success and growth. I'd like to start with some non-financial observations, which I think are ultimately very important for the final financial health of the company. Over the past year, we've made a number of changes designed to make the company stronger in the long run.In early September of last year, we had a major layoff and restructuring at our Long Island facility. And before the end of calendar year 2022, we relocated the Zyfer manufacturing capability, which had been moved to Long Island back to their original location in California alongside their engineering team. These moves were understandably traumatic, and also costly in the short run. The layoff was costly in terms of workforce morale and the Zyfer move was costly in dollars and cents. But both of these moves have made us stronger and are now showing positive benefits. Simultaneously, while all of this was going on, we've made a conscientious effort to harness our strength in science and engineering, and in fact to bolster it in such a way that we can remain competitive well into the future.Story continuesOver the last year, we've begun to work collaboratively with several of our major customers to develop new approaches to old problems, which have the potential to improve performance and lower cost in the position, navigation and timing arena. Similarly, we've reinvigorated our internal R&D program to target quantum technology and products, which address the move to smaller lower cost satellite systems. Our Zyfer division has made a dramatic comeback. In fiscal year 2022, Zyfer suffered an operating loss of over $2 million, whereas in fiscal year 2023, which ended April 30, Zyfer still had a small overall operating loss of about $160,000. But much more importantly, in the second half of the year, Zyfer made an operating profit of just over $1 million.earth, viewvaalaa/Shutterstock.comThis, in spite of the costs associated with the cross-country move of manufacturing. John [indiscernible], Zyfer's President and his team deserve a lot of credit for making this happen much faster than was originally anticipated. Furthermore, Zyfer's been awarded several major contracts during fiscal year 2023 which will significantly contribute to the bottom line during fiscal year 2024 and beyond, and several new contracts are expected in the near future. Meanwhile, in New York, FEI has regrouped, is smaller after the layoffs, but it's coming back strong. Some costly engineering development efforts are finally coming to completion successfully. Some new contracts are in and proceeding profitably and several large satellite program contracts are anticipated over the next six months.Importantly, after enduring some pretty dramatic changes over the last year, I believe our workforce morale is high. There is a spirit of the success in the air, and I feel we're all working together, not only in New York, but the entire company to do what's necessary to make things happen. I believe the whole at FEI is greater than the sum of the parts, and that's a powerful force. So, okay for the financial portrait, in the fourth quarter of fiscal 2023, we continued to see the results of the cost-cutting efforts and management reorganization, which has taken place over the last year. Revenue and gross margin have increased substantially for the six months period ended April 30, 2023 compared to the six months period ended October 31, 2023, as well as in comparison to the same period in fiscal year 2022.And the company is reporting an operating profit for the second half of the fiscal year. FEI's backlog at year-end is at a decade high and several historically large satellite programs are anticipated during the next six months, substantiating our confidence in the growth of our primary markets. Both commercial and government satellite businesses continue to show signs of sustained double-digit growth going forward. Continued vigilance is required to navigate the challenging economic and geopolitical environment, but we're nonetheless confident that we are progressing in a positive direction and we look forward to continued improvement in the results. The company is committed to moving towards sustained profitability and cash generation going forward.Further, we remain debt-free, with a very strong balance sheet to fund future growth opportunities. Thank you. And I'd like to turn things over now to Steve Bernstein, our Chief Financial Officer.Steven Bernstein: Thank you, Tom, and good afternoon. [Technical Difficulty] to the financial results, it is important to mention that I will be comparing Q4 of fiscal '23 versus Q4 fiscal '22 results. Our press release has the full fiscal year results and some of the key metrics. I would also like to mention the improvement in results for the second half of the fiscal '23 compared to the first half of fiscal '23. Revenue increased from $17.2 million during the first half of fiscal '23 to $23.6 million during the second half of fiscal '23. Gross profit percentage went from 2% in the first half of fiscal '23 to 31.8% in the second half of fiscal '23, and operating income loss went from an operating loss of $5.4 million in the first half of fiscal '23 to an operating income of $717,000 in the second half of fiscal '23.Additionally, this is the second quarter in row that the company [technical difficulty] operating income. It is evident by the vast improvement in our results from comparing the second half of fiscal '23 to the first half of fiscal '23 that the company is heading in the right direction and the changes that have been previously announced are contributing to this improvement. For the three months ended April 30, '23, consolidated revenue was $13 million compared to $10.2 million for the same period in the prior fiscal year. The components of revenue are as follows. Revenue from commercial and U.S. government satellite programs was approximately $5.1 million or 39% of consolidated revenue compared to $5.2 million or 51% of consolidated revenue in the same period of the prior fiscal year.Revenue on satellite payload contracts are recognized primarily under the percentage of completion method and are recorded only in the FEI-New York segment. Revenues from non-space U.S. government and DOD customers, which are recorded in both the FEI-New York and FEI-Zyfer segments were $7.3 million compared to $4.7 million in the same period of the prior fiscal year, and accounted approximately for 56% of consolidated revenue compared to 46% for the prior fiscal year. Other commercial and industrial revenue was approximately $563,000 compared to approximately $249,000 in the prior fiscal year. The increase in revenue for the three months ending April 30, 23 was mainly due to the increase in revenue at FEI-Zyfer. For the three months ended April 30, '23, gross margin went down and gross margin rate increased as compared to the same period of fiscal year '22.The company is encouraged by the fact that the gross profit percentage for the third and fourth quarter of fiscal year '23 were both over 30%, and the company anticipates that this trend will continue in fiscal '24. For the three months ended April 30, '23 and '22, SG&A expenses were approximately 23% and 20%, respectively, of consolidated revenues. The increase in SG&A expense for the three months ending April 30, '23 as compared to prior year was largely due to reversals in fiscal '22. Full year SG&A expenses decreased over $2 million. The company continues to monitor expenses looking for additional cost effective ways going forward. R&D expense for the three months ending April 30, '23 decreased to approximately $658,000 from $1.1 million for the three months ending April 30, '22, a decrease of approximately $450,000 and was approximately 6% and 11%, respectively, of consolidated revenue.R&D decreased for the three months ending April 30, '23 due to dedicated R&D resources who are working on two externally funded developmental programs, which would not show up in R&D. The company plans to continue to invest in R&D in the future to keep its products at the state-of-the-art. For the three months ending April 30, '23, the company recorded operating income of approximately $390,000 compared to an operating loss of approximately $5.9 million in the prior year. Operating income increased due to a combination of an increase in sales over the three months ending April 30, '22, increased gross margin, and effects of changes management has instituted. For Q4 fiscal '23, other income consisted primarily of interest expense and miscellaneous income since all marketable securities were sold this year.During the three months ending April 30, '22, the company took a $795,000 impairment charge related to the company's investment in Morion. This yields a pretax income of approximately $313,000 compared to an approximately $6.8 million pretax loss for the three months ending April 30, '22. For the three months ending April 30, '23, the company reported a tax provision of $68,000 compared to a $3,000 tax benefit for the same period of the prior fiscal year. Consolidated net income for the three months ending April 30, '23 was approximately $246,000 or $0.03 per share compared to an approximately $6.8 million loss or $0.74 per share for the same period of the previous fiscal year. Our fully funded backlog at the end of April '23 was approximately $56 million compared to $40 million for the previous fiscal year ended April 30, '22.In addition, this is the third consecutive quarter in which backlog is greater than $50 million, levels the company has not seen in over 10 years. While some of this will turn into revenue and thus come out of backlog this year, we expect additional significant contract awards to be added to backlog in the coming quarters. The company's balance sheet continues to reflect a strong working capital position of approximately $21 million at April 30, '23 at a current ratio of approximately 1.8:1. Additionally, the company is debt free. The company believes that its liquidity is adequate to meet its operating investing needs for the next 12 months and the foreseeable future. I will turn the call back to Tom, and we look forward to your questions later.Thomas McClelland: Thanks, Steve. And at this point in time, we will turn over to accept questions from the audience.See also 15 Merger Arbitrage Opportunities in 2023 and 10 Best Innovative Stocks that Pay Dividends.To continue reading the Q&A session, please click here.

Insider Monkey

Frequency Electronics, Inc. (NASDAQ:FEIM) Q4 2023 Earnings Call Transcript

https://finance.yahoo.com/news/frequency-electronics-inc-nasdaq-feim-123130688.html

b09fd92d-31a2-3218-abcd-c491636f4c13

FEIM

In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But its virtually certain that sometimes you will buy stocks that fall short of the market average returns. Unfortunately, that's been the case for longer term Frequency Electronics, Inc. (NASDAQ:FEIM) shareholders, since the share price is down 37% in the last three years, falling well short of the market return of around 26%.It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that. View our latest analysis for Frequency Electronics Frequency Electronics wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth.Over the last three years, Frequency Electronics' revenue dropped 3.9% per year. That is not a good result. The annual decline of 11% per year in that period has clearly disappointed holders. And with no profits, and weak revenue, are you surprised? Of course, sentiment could become too negative, and the company may actually be making progress to profitability.You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).earnings-and-revenue-growthIt's probably worth noting that the CEO is paid less than the median at similar sized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. This free interactive report on Frequency Electronics' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.Story continuesWhat About The Total Shareholder Return (TSR)?Investors should note that there's a difference between Frequency Electronics' total shareholder return (TSR) and its share price change, which we've covered above. Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. Frequency Electronics hasn't been paying dividends, but its TSR of -26% exceeds its share price return of -37%, implying it has either spun-off a business, or raised capital at a discount; thereby providing additional value to shareholders.A Different PerspectiveIt's nice to see that Frequency Electronics shareholders have received a total shareholder return of 17% over the last year. Notably the five-year annualised TSR loss of 1.8% per year compares very unfavourably with the recent share price performance. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that Frequency Electronics is showing 1 warning sign in our investment analysis , you should know about...Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.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.

Frequency Electronics (NASDAQ:FEIM) shareholders have endured a 26% loss from investing in the stock three years ago

https://finance.yahoo.com/news/frequency-electronics-nasdaq-feim-shareholders-130637010.html

86f1da7c-de67-3b7e-8d8f-eb5a97bce566

FEMY

Femasys Inc.ATLANTA, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Femasys Inc. (NASDAQ: FEMY), a biomedical company focused on meeting significant unmet needs for women worldwide with two lead revolutionary product candidates in late-stage clinical development for reproductive health in addition to innovative diagnostic products constituting a broad portfolio of in-office accessible solutions, today announced that it has obtained a Medical Device Establishment License (“MDEL”) from Health Canada (License Number 24825). The MDEL license is issued by Health Canada’s Regulatory Operations and Enforcement Branch (ROEB) to companies for the activities of manufacturing, importing and distributing and selling of medical devices for human use in Canada. This license allows Femasys to directly sell its four products, FemaSeed®, FemVue®, FemCath® and FemCerv®, approved in Canada.“Obtaining an MDEL license is another milestone achieved and key step to entering the Canadian marketplace,” said Kathy Lee-Sepsick, founder, president and chief executive officer of Femasys. “We are thrilled to provide women in Canada access to Femasys’ medical products for infertility treatment and diagnosis, as well as cervical cancer diagnosis.”More information on Femasys’ approved products in Canada (FemaSeed, FemVue, FemCath and FemCerv) is below:About FemaSeed®FemaSeed is a first-of-its-kind infertility solution in late-stage clinical development in the U.S. for directional intrauterine insemination that delivers sperm to the fallopian tube where conception occurs. It is intended to augment natural fertilization as a first-line infertility treatment option that is less invasive and more affordable than in vitro fertilization (IVF) or intracytoplasmic sperm injection (ICSI).About FemVue®FemVue is the first FDA-cleared product that creates natural contrast to allow for real time evaluation of the fallopian tubes with ultrasound in the GYN’s office that is safer and less costly than the alternative radiology exam.Story continuesAbout FemCath®FemCath is the first FDA-cleared product that allows for selective evaluation of the fallopian tubes by using in conjunction with FemVue. The baseline ultrasound-based diagnostic test is essential prior to any infertility treatment, including our therapeutic solution FemaSeed.About FemCerv® FemCerv is the first FDA-cleared product that allows for the capture and protection of a comprehensive endocervical tissue sample in a virtually pain-free procedure for diagnosis of cervical cancer.About Femasys Inc.Femasys is a biomedical company focused on meeting significant unmet needs for women worldwide by developing two lead revolutionary product candidates in late-stage clinical development for reproductive health in addition to innovative diagnostic products constituting a broad portfolio of in-office, accessible solutions. Our FemBloc® permanent birth control in pivotal trial is intended to be a safer, less costly option for women by eliminating surgery and implants. Our FemaSeed® localized directional insemination in pivotal trial for infertility (approved in Canada) is intended to offer couples a safer, less costly alternative by eliminating invasive surgical procedures. Complimentary products with approvals to market in the U.S., Canada and other countries outside the U.S, have allowed the Company to optimize its ability to achieve regulatory approvals, and improve operational efficiencies and commercial readiness with its in-house manufacturing capabilities. Learn more at www.femasys.com, and follow us on Twitter, Facebook and LinkedIn.Forward-Looking Statements This press release contains forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “pending,” “intend,” “believe,” “potential,” “hope,” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on our current expectations and are subject to inherent uncertainties, risks and assumptions, many of which are beyond our control, difficult to predict and could cause actual results to differ materially from what we expect. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ include, among others: our ability to develop and advance our current product candidates and programs into, and successfully initiate, enroll and complete, clinical trials; the ability of our clinical trials to demonstrate safety and effectiveness of our product candidates and other positive results; estimates regarding the total addressable market for our product candidates; our business model and strategic plans for our products, technologies and business, including our implementation thereof; and those other risks and uncertainties described in the section titled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022 and other reports as filed with the SEC. Forward-looking statements contained in this press release are made as of this date, and Femasys undertakes no duty to update such information except as required under applicable law. Contacts: Investors Chuck Padala LifeSci Advisors, LLC 917-741-7792 [email protected] Inc. Investor Contact: [email protected] Contact: [email protected]

GlobeNewswire

Femasys Inc. Obtains Medical Device Establishment License from Health Canada

https://finance.yahoo.com/news/femasys-inc-obtains-medical-device-123000358.html

5df3d5e9-e44e-3834-b63c-1041de3a1b35

FEMY

Femasys Inc.ATLANTA, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Femasys Inc. (NASDAQ: FEMY), a biomedical company focused on meeting significant unmet needs for women worldwide with two lead revolutionary product candidates in late-stage clinical development for reproductive health in addition to innovative diagnostic products constituting a broad portfolio of in-office accessible solutions, today announced that Kathy Lee-Sepsick, founder, president & chief executive officer, will virtually present and also participate in one-on-one investor meetings at the H.C. Wainwright 25th Annual Global Investment Conference, being held September 11-13, 2023.The company presentation will be accessible on-demand, beginning 7:00 AM EDT, Monday, September 11, 2023.  To listen to the presentation, register at the link here.  This link will remain active for 90 days from the start of the conference and can also be found on the investor portion of Femasys’ website within the Events & Presentations section.About FemasysFemasys is a biomedical company focused on meeting significant unmet needs for women worldwide by developing two lead revolutionary product candidates in late-stage clinical development for reproductive health in addition to innovative diagnostic products constituting a broad portfolio of in-office, accessible solutions. Our FemBloc® permanent birth control in pivotal trial is intended to be a safer, less costly option for women by eliminating surgery and implants. Our FemaSeed® localized directional insemination in pivotal trial for infertility (approved in Canada) is intended to offer couples a safer, less costly alternative by eliminating invasive surgical procedures. Complimentary products with approvals to market in the U.S., Canada and other countries outside the U.S, have allowed the Company to optimize its ability to achieve regulatory approvals, and improve operational efficiencies and commercial readiness with its in-house manufacturing capabilities. Learn more at www.femasys.com, or follow us on Twitter, Facebook and LinkedIn.Story continuesContacts:InvestorsChuck PadalaLifeSci Advisors, [email protected] Inc.Investor Contact:[email protected] Contact:[email protected]

GlobeNewswire

Femasys to Participate in the H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/femasys-participate-h-c-wainwright-123000368.html

69b48ffd-7acc-38ff-a1e2-8f6a17f2098a

FFIE

LOS ANGELES, September 08, 2023--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("Faraday Future", "FF" or "Company"), a California-based global shared intelligent electric mobility ecosystem company, reaffirms its commitment to safeguarding the interests of its shareholders while driving long-term growth and value creation. Faraday Future has recently observed a series of suspicious activities that the Company believes suggests a coordinated effort to undermine the Company's valuation through spreading misinformation and manipulating market sentiment.Faraday Future firmly believes in fair and transparent market practices, where investors can make informed decisions based on accurate and reliable information. The Company is unequivocally fully committed to the long-term value creation and the interests of its shareholders, employees, and stakeholders.To address this issue, Faraday Future is taking the following steps:Increased Transparency: The Company will continue to provide accurate and timely information via public disclosure in an effort to ensure equal access to the facts about the Company's performance and prospects.Potential Legal Action: The Company plans to further investigate and address any perceived market manipulation or misinformation activities. If the Company finds any illegal short selling, other market manipulation or misinformation it intends to take available legal action. The Company will continue to endeavor to protect its global investors.Maintaining Focus on Long-Term Growth: The Company remains committed to its core vision and ongoing innovation.The Company urges its shareholders and the broader investment community to remain vigilant against market manipulation and base their investment decisions on comprehensive research and due diligence.The Company expresses its gratitude to its shareholders and stakeholders who have been supportive over the history of the business. The trust in Faraday Future is invaluable, and the team will continue to work tirelessly to deliver and drive long-term value.Story continuesUsers can preorder an FF 91 vehicle via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/Download the new FF Intelligent App: http://appdownload.ff.comABOUT FARADAY FUTUREFF is the pioneer of the Ultimate Intelligent TechLuxury ultra spire market in the intelligent EV era, and a disruptor of the traditional ultra-luxury car industry. FF is not just an EV company, but also a software-driven company of intelligent internet AI product.FOLLOW FARADAY FUTUREhttps://www.ff.com/ https://www.ff.com/us/mobile-app/ https://twitter.com/FaradayFuture https://www.facebook.com/faradayfuture/ https://www.instagram.com/faradayfuture/ www.linkedin.com/company/faradayfuture/FORWARD LOOKING STATEMENTSThis press release includes "forward looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the Company’s ability to satisfy the conditions precedent and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; general economic and market conditions impacting demand for the Company’s products; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company’s Form 10-K/A filed with the Securities and Exchange Commission ("SEC") on August 21, 2023, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907655721/en/ContactsInvestors (English): [email protected] Investors (Chinese): [email protected] Media: [email protected]

Business Wire

Faraday Future Reaffirms Commitment to Long-Term Growth and Shareholder Value

https://finance.yahoo.com/news/faraday-future-reaffirms-commitment-long-032400955.html

c858d021-e61b-3252-b55f-cc2ab630cc2a

FFIE

On September 7th, the FF 91 2.0 Futurist Alliance broke the fastest lap record in the SUV and Crossover categories as an All Ability aiHypercar at the world-renowned Buttonwillow Raceway Park, located north of Los Angeles, CA.The FF 91 2.0 Futurist Alliance also recently set a remarkable new record in its class at Willow Springs on June 6th, achieving the fastest lap time of 1 minute and 35 seconds among ultimate luxury production EVs weighing over 6,000 pounds.The Company launched the FF All-Hyper Global Racetrack Conqueror Plan during the "Developer Co-Creation Festival" at Pebble Beach last month.The Company will hold a customized FF 91 2.0 Futurist Alliance "Delivery Co-Creation Day" for each spire user and FF Developer Co-Creation Officer that takes possession of the FF 91 2.0 Futurist Alliance during the month of September.LOS ANGELES, September 09, 2023--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("Faraday Future", "FF" or "Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced that on September 7th, the FF 91 2.0 Futurist Alliance broke the fastest lap record in the SUV and Crossover categories as an All Ability aiHypercar at the Buttonwillow Raceway, located in Buttonwillow, CA. The FF 91 2.0 Futurist Alliance completed a single lap test (on Circuit #13) in 1 minute 57.55 seconds, which is more than a second faster than the previous fastest SUV record. After a new record was recorded on June 6th at the "FF Developer Co-creation Track Day" at Willow Springs Speedway, FF improved the product power of the FF 91 2.0 Futurist Alliance with FF Developer Co-Creation Officers resulting in the record set yesterday on the Buttonwillow racetrack.A video of the Buttonwillow lap can be seen here: https://youtu.be/94XVEhkAGDA"This newest track record at Buttonwillow reinforces FF’s determination to conquer some of the world’s most famous racetracks," said YT Jia, Founder and Chief Product and User Ecosystem Officer of FF. "We have officially kicked-off the FF All-Hyper Global Racetrack Conqueror Plan. The Company believes that the racing elites the Company hopes to recruit will help FF promote the iterations and upgrades of the 'FF aiHyper 6X4 Architecture 2.0' and 'All-Ability aiHyperCar' and contribute to the continuous advancements of all of the performance capabilities of the FF 91."Story continuesThe Company recently launched the FF All-Hyper Global Racetrack Conqueror Plan during the "Developer Co-Creation Festival" at Pebble Beach last month. The FF All Hyper Global Racetrack Conqueror Plan is a race tailored for the production version of "All-Ability aiHypercars." The Company has invited Le Mans champion Justin Bell and five-time Le Mans 24 hours race champion Derek Bell to become FF Developer Co-Creation Officers and lend their expertise to help the Company with this plan. The Company intends to continue to invite additional racing elites to join this initiative.The Company is currently planning a number of FF 91 Futurist Alliance "Delivery Co-Creation Day" events for its newest users. This delivery program entails hosting a series of customized delivery events for each of these FF Developer Co-Creation Officers.As previously announced, one of the Company’s first Developer Co-Creation officers, Jason Oppenheim, will receive his FF 91 2.0 Futurist Alliance and engage in a discussion next week about the trends found in luxury homes, and top-tier electric vehicles. He will also highlight the "Magic All-In-One" and other FF 91 2.0 Futurist Alliance key features.The Company plans to hold other customized Delivery Co-Creation events for FF 91 2.0 Futurist Alliance owners throughout the remainder of this year. In addition, as previously announced, the Company will hold a "FF Developers Co-Creation AI Festival" on September 19th.This series of "Delivery Co-Creation Day" events marks the Company's formal entry into the regular operation phase for sales, delivery, service, and user operations. Importantly, the Company is now positioned to pursue additional funding opportunities to enable the ramp of its production capacity to support the delivery of more vehicles.Users can preorder an FF 91 vehicle via the FF Intelligent App or through our website(English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/Download the new FF Intelligent App: http://appdownload.ff.comABOUT FARADAY FUTUREFF is the pioneer of the Ultimate Intelligent TechLuxury ultra spire market in the intelligent EV era, and a disruptor of the traditional ultra-luxury car industry. FF is not just an EV company, but also a software-driven company of intelligent internet AI product.FOLLOW FARADAY FUTUREhttps://www.ff.com/ https://www.ff.com/us/mobile-app/ https://twitter.com/FaradayFuture https://www.facebook.com/faradayfuture/ https://www.instagram.com/faradayfuture/ www.linkedin.com/company/faradayfuture/FORWARD LOOKING STATEMENTSThis press release includes "forward looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Company’s expectations regarding the "Co-Creation Delivery Day" program, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the Company’s ability to satisfy the conditions precedent and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; general economic and market conditions impacting demand for the Company’s products; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company’s Form 10-K/A filed with the Securities and Exchange Commission ("SEC") on August 21, 2023, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908387903/en/ContactsInvestors (English): [email protected] Investors (Chinese): [email protected] Media: [email protected]

Business Wire

FF 91 2.0 Futurist Alliance Sets a New Lap Record in its Class at Buttonwillow Raceway Park

https://finance.yahoo.com/news/ff-91-2-0-futurist-043000583.html

42f35c86-5e43-3520-8248-aad1e9fce217

FFIV

It has been about a month since the last earnings report for Paypal (PYPL). 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 Paypal due for a breakout? 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.PayPal's Q2 Earnings Match EstimatesPayPal Holdings reported non-GAAP earnings of $1.16 per share for second-quarter 2023, which came in line with the Zacks Consensus Estimate. The figure improved 24% on a year-over-year basis.Net revenues of $7.29 billion exhibited year-over-year growth of 8% on an FX-neutral basis and 7% on a reported basis. The figure surpassed the Zacks Consensus Estimate of $7.26 billion.Growing transaction and other value-added services’ revenues drove top-line growth year over year in the reported quarter. Also, accelerating U.S. and international revenues contributed well.Top Line in DetailBy Type: Transaction revenues amounted to $6.6 billion (90% of net revenues), up 5% from the year-ago quarter’s level. Other value-added services generated revenues of $731 million (accounting for 10% of net revenues), up 37% year over year.By Geography: Revenues from the United States totaled $4.21 billion (58% of net revenues), up 9% on a year-over-year basis. International revenues were $3.1 billion (42% of net revenues), up 5% from the prior-year quarter’s level.Key Metrics to ConsiderPayPal witnessed year-over-year growth of 0.5% in total active accounts, which came at 431 million in the quarter under review. The figure came below the Zacks Consensus Estimate of 435 million.The total number of payment transactions was 6.07 billion, up 10% on a year-over-year basis. The figure lagged the consensus mark of 6.18 billion.PYPL’s payment transactions per active account were 54.7 million, which improved 12% from the year-ago quarter’s level. The consensus mark for the same was 55 million.Total payment volume (TPV) amounted to $376.54 billion for the reported quarter, reflecting year-over-year growth of 11% on a spot rate basis as well as on a currency-neutral basis. The reported figure topped the Zacks Consensus Estimate of $370.02 billion.Story continuesOperating DetailsPayPal’s operating expenses were $6.15 billion in the second quarter, up 1.9% from the prior-year quarter’s figure. As a percentage of net revenues, the figure contracted 440 basis points (bps) on a year-over-year basis.The non-GAAP operating margin was 21.4%, expanding 230 bps from the year-ago quarter’s level.Balance Sheet & Cash FlowAs of Jun 30, 2023, cash equivalents and investments were $9.9 billion, down from $10.7 billion as of Mar 31, 2023.PayPal had a long-term debt balance of $10.55 billion at the end of the second quarter compared with $10.48 billion at the end of the first quarter.PYPL used $200 million of cash in operations during the reported quarter compared with $1.2 billion of cash it generated from operations in the previous quarter.Free cash flow was $350 million in the reported quarter.PayPal returned $1.5 billion to its shareholders by repurchasing 22 million shares.GuidanceFor third-quarter 2023, PayPal projects revenues at $7.4 billion, indicating year-over-year growth of 8% on a spot rate basis as well as on a currency-neutral basis.Non-GAAP earnings are expected to be $1.22-$1.24 per share, suggesting growth of 13-14% on a year-over-year basis.For 2023, PayPal reiterated its guidance for non-GAAP earnings of $4.95, suggesting growth of 20% from the year-ago quarter.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in fresh estimates.VGM ScoresAt this time, Paypal has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% 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 upward for the stock, and the magnitude of these revisions looks promising. Notably, Paypal has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerPaypal is part of the Zacks Internet - Software industry. Over the past month, F5 Networks (FFIV), a stock from the same industry, has gained 1.5%. The company reported its results for the quarter ended June 2023 more than a month ago.F5 reported revenues of $702.64 million in the last reported quarter, representing a year-over-year change of +4.2%. EPS of $3.21 for the same period compares with $2.57 a year ago.F5 is expected to post earnings of $3.22 per share for the current quarter, representing a year-over-year change of +22.9%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.3%.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for F5. 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 reportPayPal Holdings, Inc. (PYPL) : Free Stock Analysis ReportF5, Inc. (FFIV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Paypal (PYPL) Down 2.6% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/paypal-pypl-down-2-6-153150825.html

831dfe6e-ec7a-3174-806b-0d8407a7059a

FFIV

SEATTLE, September 06, 2023--(BUSINESS WIRE)--F5, Inc. (NASDAQ: FFIV) today announced that it will participate in the 2023 Piper Sandler Growth Frontiers Conference. F5’s fireside chat presentation will be webcast live beginning at 2:00 p.m. ET on Tuesday, September 12, 2023. Interested attendees can access the live webcast via the Investor Relations section of f5.com or via this link. An archived version of the webcast will be available on F5’s Investor Relations page.About F5F5 is a multi-cloud application services and security company committed to bringing a better digital world to life.​​​​​​​ F5 partners with the world’s largest, most advanced organizations to secure and optimize every app and API anywhere—on premises, in the cloud, or at the edge. F5 enables organizations to provide exceptional, secure digital experiences for their customers and continuously stay ahead of threats. For more information, go to f5.com. (NASDAQ: FFIV)You can also follow @F5 on Twitter or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies. F5 is a trademark, service mark, or tradename of F5, Inc., in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.SOURCE: F5, Inc.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906670732/en/ContactsSuzanne DuLong(206) [email protected]

Business Wire

F5 to Participate in the 2023 Piper Sandler Growth Frontiers Conference

https://finance.yahoo.com/news/f5-participate-2023-piper-sandler-220000065.html

7c33ca0d-2dbd-3acf-b893-f9bd92e58d35

FHN

#1 in State of AlabamaMEMPHIS, Tenn., Sept. 6, 2023 /PRNewswire/ -- First Horizon Bank, a subsidiary of First Horizon Corp. (NYSE: FHN or "First Horizon") has been named to the Forbes list of Best-in-State Banks 2023. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list and full announcement can be viewed on the Forbes website.First Horizon Recognized as #1 Bank in Alabama by ForbesAmerica's Best-In-State Banks 2023 were identified based on two sources:An Independent Survey: Approximately 26,000 US consumers were asked to rate banks at which they have or previously have had a checking/saving account. In addition, they had to rate the banks in the six different subdimensions: trust, terms & conditions, branch services, digital services, customer services and financial advice.Publicly Available Reviews: For each bank, in each state, a sentiment analysis approach of publicly available online text reviews and ratings was applied."First Horizon is committed to excellence and providing the best experience to our clients, colleagues and communities," said Hunter Hill, South Central Regional President at First Horizon. "I am extremely proud of this recognition and being named the best in state bank in Alabama by Forbes."About First Horizon First Horizon Corp. (NYSE: FHN), with $85.1 billion in assets as of June 30, 2023, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.Story continuesContact:Beth Ardoin, SEVP, Director of Communications(337) 278-6868 or [email protected](PRNewsfoto/First Horizon Corporation)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/first-horizon-recognized-as-one-of-the-best-in-state-banks-2023-by-forbes-301916310.htmlSOURCE First Horizon Corporation

PR Newswire

First Horizon Recognized as one of The Best-In-State Banks 2023 by Forbes

https://finance.yahoo.com/news/first-horizon-recognized-one-best-140000631.html

712fd66a-3ea9-369d-82c9-65721c7b2dd6

FHN

1 of 76 Companies to receive recognition in TennesseeMEMPHIS, Tenn., Sept. 7, 2023 /PRNewswire/ -- First Horizon Corp. (NYSE: FHN or "First Horizon") earned its place on the Forbes list of Best-in-State Employers 2023. This recognition is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. (PRNewsfoto/First Horizon Corporation)America's Best-in-State Employers 2023America's Best-in-State Employers 2023 were identified based on 2.1 million employer recommendations from employees working for companies with more than 500 employees in the United States. The recommended employers have been grouped into one of the 25 industry sectors. Employers with operations in more than one state were ranked in multiple states.  Participants were asked whether they would recommend their employer to friends and family, and to evaluate their employer based on criteria including working conditions, diversity, compensation packages, potential for development and company image."I am extremely proud to receive this recognition by Forbes as a Best-In-State Employer in Tennessee," said Bryan Jordan, Chairman, President and CEO of First Horizon. "Having our associates vote us as a best employer solidifies the value of our FirstPower culture and almost 160-year history of investment in our workforce and communities."About First Horizon First Horizon Corp. (NYSE: FHN), with $85.1 billion in assets as of June 30, 2023, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.Story continues.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/first-horizon-named-on-forbes-best-in-state-employer-lists-301920565.htmlSOURCE First Horizon Corporation

PR Newswire

First Horizon Named on FORBES Best-In-State Employer Lists

https://finance.yahoo.com/news/first-horizon-named-forbes-best-140000733.html

dfcee581-37a1-3ddb-82cb-d13dc58e3c7f

FI

Connection will enable direct access to data, facilitating secure information sharing for financial institutions and their customersBROOKFIELD, Wis., August 24, 2023--(BUSINESS WIRE)--Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, and Akoya, an API-only network for the consumer-permissioned sharing of financial data, are collaborating to enable secure data sharing among financial institutions, their customers, and the third parties with which they do business.While most consumers maintain accounts with trusted financial institutions, they increasingly want to access their financial information as part of their daily digital experiences, including through merchant and third-party apps. This will be possible as the Fiserv and Akoya data sharing agreement will facilitate broad, reliable and secure access to data, allowing consumers to safely share their data, with permission, with the apps of their choice.The Fiserv collaboration with Akoya will enable seamless experiences across the Fiserv client base of financial institutions, fintechs, and merchants. Financial institutions and fintechs can reduce risk related to account opening and funding and account to account transfers with secure permissioned access to information from consumers’ accounts at other financial institutions. Merchants can offer a Pay by Bank option by enabling consumers to link their bank account to the merchant’s wallet or app to make direct payments to the merchant via the Carat global commerce platform from Fiserv."Fiserv and Akoya are empowering consumers to share their data by creating a broader and more secure data access network," said Matt Wilcox, President of Digital Payments at Fiserv. "Direct access to data facilitates more integrated digital experiences for consumers and improves the security of the financial ecosystem."Fiserv will have direct API access to consumer data from Akoya’s network of financial institutions and brokerage firms, while Akoya will utilize AllData® Connect from Fiserv to access consumer data from more than 2,800 financial institutions. Because data is shared directly between Fiserv and Akoya on behalf of their clients and at the direction of consumers, there is no need for consumers to share their banking credentials with third parties, enhancing security and consumer control over access to their data.Story continues"This will help consumers manage exactly who they give their data to and understand how their data will be accessed and used," said Paul LaRusso, CEO of Akoya. "100% of Akoya’s traffic to financial institutions goes through APIs. Akoya doesn’t ask for consumers’ passwords, and it doesn’t screen-scrape. All consumers deserve this protection and control."AllData Connect, part of the AllData® Aggregation product suite, allows consumers to provide consent to share their financial data with third-party applications without having to share their log-in credentials. In place of credentials, AllData Connect validates the consumer directly with their bank or credit union and issues a token that the third party uses to access and update consumer data via AllData Connect.API-based data access solutions are allowing the financial services industry to move away from a structure in which unregulated entities store large amounts of financial data, including consumer credentials.By enabling secure, direct access to tokenized consumer data, Fiserv and Akoya’s agreement will align both organizations with industry protocols related to data sharing standardization, including consumer transparency and control, while providing the next-gen financial experiences that consumers seek.In a world moving faster than ever before, Fiserv continues to help clients deliver solutions in step with the way people live and work today. Learn more at fiserv.com.Additional ResourcesFinicity and Fiserv Offer More Consumer Choice Through Secure Data AccessFiserv and MX Enable Secure Consumer Financial Data Access to Accelerate Future of Open FinanceBlog – Improving Open Finance with Secure Data AccessAllData Connect – fisv.co/AllDataConnectAbout AkoyaAkoya is transforming the way consumer financial data is accessed and shared. Through a single integration to the Akoya, financial institutions can directly connect with data aggregators, fintechs, and other financial institutions to securely share consumer-permissioned financial data through APIs. Akoya manages these relationships and serves as an interoperable solution available to the entire financial services industry. We are an API-only network that offers security, transparency, and scale. Learn more at akoya.com.About FiservFiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.FISV-G# # #View source version on businesswire.com: https://www.businesswire.com/news/home/20230824033008/en/ContactsMedia Relations: Ann CaveVice President, External CommunicationsFiserv, [email protected] Media Relations: Olivia FaheyMarketing [email protected]

Business Wire

Fiserv and Akoya Meet Consumer Demand for Anytime, Anywhere Financial Information with New Data Sharing Agreement

https://finance.yahoo.com/news/fiserv-akoya-meet-consumer-demand-110600062.html

80249408-798d-3b03-b213-3afc196a7f9f

FI

The 2023 football season kicks off with Cleveland Browns Stadium as one of seven of 30 NFL stadiums outfitted with CloverBROOKFIELD, Wis., September 06, 2023--(BUSINESS WIRE)--The Cleveland Browns have chosen Clover® Sport from Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, to enhance fan experiences and optimize food and beverage operations at Cleveland Browns Stadium.When Cleveland fans arrive to cheer on the Browns for the 2023 season, they’ll be welcomed by technology that enables faster, more convenient purchasing experiences throughout the stadium. Technology upgrades will enable digital and contactless ordering, including third-party Clover Sport integrations that connect fans to mobile ordering, integrated loyalty, and stored value embedded in their ticket. With more ways to pay and faster checkout times, Browns fans will be spending less time in line and more time watching their team play."Clover Sport provides us with the technology we need to enhance the fan experience throughout our venue," said Brandon Covert, Vice President, Information Technology, Cleveland Browns. "We’re looking forward to working with Clover Sport this season. Having a tech partner at Cleveland Browns Stadium that can streamline front and back of house operations, seamlessly integrate with our other partners, and enhance the fan experience is a significant win for our organization.Combining leading point-of-sale hardware and software with robust back-office management tools, Clover Sport will serve as a fully integrated commerce operating system powering payments throughout Cleveland Browns Stadium. Nearly 500 Clover devices will be used across concession locations and premium seating areas, including mobile devices for in-seat service and line busting. Clover software will provide stadium operators with invaluable access to real-time data and reporting that can be leveraged to streamline operations and increase profitability.Story continues"As sports fans seek out faster and more convenient purchasing options when attending a game, organizations have an opportunity to create more engaging fan experiences while also strengthening their own operations," said Sandeep Bhanote, Vice President and General Manager, Clover Sport. "With real-time data insights providing a 360-degree view into how fans are engaging during an event, stadium operators can further enhance fan experiences by optimizing food and beverage operations, staffing levels, and the flow of inventory throughout their venue."The implementation at Cleveland Browns Stadium adds to a growing list of more than 300 sports entertainment venues that are choosing Clover Sport to power stadium operations, including more than 50 major sporting venues in the U.S. The 2023 NFL season kicks off with seven of 30 NFL stadiums outfitted with Clover, including home venues for the Browns, Miami Dolphins, New England Patriots, New Orleans Saints, Pittsburgh Steelers, Seattle Seahawks and Tampa Bay Buccaneers.Learn more at sport.clover.com.About FiservFiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.FISV-GView source version on businesswire.com: https://www.businesswire.com/news/home/20230906733163/en/ContactsMedia Relations: Chase WallaceDirector, CommunicationsFiserv, Inc.+1 [email protected] Contact: Ann S. Cave Vice President, External CommunicationsFiserv, Inc.+1 [email protected]

Business Wire

Cleveland Browns Enhance Fan Experiences and Streamline Stadium Operations via Clover Sport

https://finance.yahoo.com/news/cleveland-browns-enhance-fan-experiences-123000842.html

88a7070a-67d4-3437-8d14-fd9a123fb584

FICO

The fundamental story may be positive, but the price action and loss of price momentum are concerns.Continue reading

TheStreet.com

Fair Isaac Has Been Losing a Fair Amount of Momentum

https://finance.yahoo.com/m/d6f621ca-e622-36e3-b542-c9b731eab1d1/fair-isaac-has-been-losing-a.html

d6f621ca-e622-36e3-b542-c9b731eab1d1

FICO

In this article we present the list of 10 Best Performing Small-cap ETFs in 2023. Click to skip past our analysis of small-cap stocks and ETFs and go straight to the 5 Best Performing Small-cap ETFs in 2023.Axon Enterprise, Inc. (NASDAQ:AXON), Alarm.com Holdings, Inc. (NASDAQ:ALRM), and Embraer S.A. (NYSE:ERJ) are a few of the small-cap stocks that are major holdings in some of the best performing small-cap ETFs this year.The top small-cap ETFs haven’t been able to crack the Top 10 Best Performing ETFs of 2023, which is headlined by several tech-focused ETFs, including ARK Investment Management’s Ark Fintech Innovation ETF (ARKF), which has gained 45.9% this year. To check out some of the hottest ETFs in this sector, don’t miss the 10 Best Semiconductor ETFs.Nonetheless it has been a decent year for small-cap stocks and the ETFs that are focused on them, as the Russell 2000 Index has posted gains of 6% this year. Those year-to-date gains were as high as 14% a little over a month ago, but small-cap stocks were dinged heavily in the first-half of August, contributing to more than half their gains being wiped out.The longer-term outlook for small-cap stocks looks far more promising, which could make small-cap focused funds among the best ETFs to buy and hold for the long term. Bank of America Securities encouraged investors to begin adding small-caps to their portfolios heading into 2023, with the firm projecting that small-caps will grow at a 12% annual rate over the next decade compared to just 5% growth for the S&P 500.Given the volatile nature of investing in individual small-cap stocks, it makes far more sense for investors to seek out indexes of those companies, giving them some added stability through strength in numbers while still retaining the upside growth potential that small-caps possess. If you’re interested in other great portfolio diversification options, check out the 20 Biggest ETFs by Volume.The strong performance of 2023’s best performing ETFs has certainly renewed the interest in them among the investing community. ETF net flows (the difference between inflows minus outflows) was a relatively muted $80 billion in Q1, but that figure jumped to $130 billion in the latest quarter. Actively managed ETFs captured a much larger percentage of that flow, at about 17%, than its overall representation in the ETF marketplace, which stands at a paltry 6%.Story continuesGiven that many of the best Performing ETFs have been tech-focused (check out the 10 Best Performing Technology ETFs in 2023), a good deal of those flows were directed towards tech sector ETFs, though the consumer discretionary and communications services sectors pulled in slightly higher flows during Q2. On the other hand, investors were bailing on ETFs in the energy, materials, and real estate sectors.Let’s now dig into the 10 Best Performing Small-cap ETFs in 2023 and look into some of the most prominent small-cap stocks being held by those funds.10 Best Performing Small-cap ETFs in 2023myriam-jessier-eveI7MOcSmw-unsplashOur MethodologyThe following data is gathered from a leading ETF screener that was filtered to only include small-cap focused ETFs (though some of them do also contain mid-cap companies). The ETFs have been ranked in ascending order based on their year-to-date returns. Holdings data was taken directly from each ETF’s information page on that fund manager’s website.All hedge fund data is based on the exclusive group of 900+ funds tracked by Insider Monkey that filed 13Fs for the Q2 2023 reporting period. We follow hedge funds like ARK Investment Management because Insider Monkey’s research has uncovered that their consensus stock picks can deliver outstanding returns.10 Best Performing Small-cap ETFs in 202310. Roundhill Acquirers Deep Value ETF (DEEP)Year-to-Date Returns: 11.7% Embraer S.A. (NYSE:ERJ), Axon Enterprise, Inc. (NASDAQ:AXON), and Alarm.com Holdings, Inc. (NASDAQ:ALRM) are the top holdings of three of the five best performing ETFs among small-cap-focused funds. WW International, Inc. (NASDAQ:WW) is likewise the top holding of the tenth-best performing small-cap ETF so far this year, the Roundhill Acquirers Deep Value ETF (DEEP).The small-cap value equities fund, which aims to invest in small, highly undervalued U.S. stocks, has 102 holdings, with WW International, Inc. (NASDAQ:WW) carrying the highest weighting in the portfolio at 1.38%. DEEP is one of the smaller ETFs on this list, with $41.4 million in assets under management. It’s returned nearly 12% this year, but is down slightly over the previous five years.WW International, Inc. (NASDAQ:WW), formerly known as Weight Watchers, sank to a five year low in hedge fund ownership during the final quarter of 2022, but several hedge funds have built new stakes in the company in 2023, including Richard Driehaus’ Driehaus Capital and Steve Cohen’s Point72 Asset Management. The weight loss management company had 4.1 million subscribers at the end of June, with the company achieving year-over-year subscriber growth during the quarter for the first time since late 2020.9. First Trust Multi-Manager Small Cap Opportunities ETF (MMSC)Year-to-Date Returns: 13.4% The First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) is tied for the smallest ETF on this list in terms of assets, with $7 million. While the fund has posted nice gains this year, it’s still down by 21% since its inception in October 2021. The fund utilizes a multi-manager approach to increase diversification in its portfolio construction, with an overall emphasis on small-cap growth stocks.MMSC’s top holding with 2.37% portfolio weighting is Celsius Holdings, Inc. (NASDAQ:CELH), a Florida-based beverage company that ranks as one of 10 Vegan Stocks Billionaires Are Loading Up On. In addition to its core line of fitness and energy drinks, Celsius Holdings, Inc. (NASDAQ:CELH) also offers sugar-free and kosher beverages. The company is growing sales rapidly, topping $200 million in quarterly sales for the first time ever in Q1, which then jumped to over $300 million in Q2, a 112% year-over-year rise. Celsius had the #3 energy drink brand in the U.S. for the one-year period ended June 18, having doubled its market share to 8.6% over the past year.Carillon Tower Advisers discussed some of Celsius Holdings, Inc. (NASDAQ:CELH)’s positive catalysts last year in the fund’s Q3 2022 investor letter:“Celsius Holdings, Inc. (NASDAQ:CELH) develops, markets, sells, and distributes functional fitness and lifestyle beverages. The company’s shares outperformed in the period as it was announced that a major global soft drink company would take a minority ownership stake in the company in a deal that also would involve a strategic distribution agreement. In addition, Celsius reported a strong quarter, and it continues to gain market share in the energy drink category.”8. Invesco S&P MidCap 400 Revenue ETF (RWK)Year-to-Date Returns: 13.9% The Invesco S&P MidCap 400 Revenue ETF (RWK) is a small- and mid-cap oriented ETF with $519 million in assets under management. The fund has 398 holdings and an expense ratio of 0.39%. The fund also utilizes a unique weighting system to organize its portfolio, basing its construction on companies’ top line revenue rather than their market cap.Given that, its top holding TD SYNNEX Corporation (NYSE:SNX), at 2.95% weighting, likely has extremely impressive revenue in relation to most other companies in the ETF, given its weighting is more than double that of all but six other stocks. There was a huge spike in hedge fund ownership of TD SYNNEX Corporation (NYSE:SNX) in the first quarter of this year, as it jumped by 70% to an all-time high. However, smart money ownership of the stock fell back sharply in Q2.TD SYNNEX Corporation (NYSE:SNX)’s Q2 results were certainly impressive for a smaller company, as it hauled in $14.1 billion in net revenue and $18.7 billion in gross billings, though each of those figures was down from a year earlier, by 7% and 4% respectively. The IT services company’s End Point Solutions have been impacted by the post-pandemic weakness in PC sales, though the company believes it has now reached the trough in terms of billings and sales, with demand expected to pick up in future quarters.7. Vanguard Small Cap Growth ETF (VBK)Year-to-Date Returns: 14.0% The Vanguard Small Cap Growth ETF (VBK) is a passively managed fund of small-cap growth stocks that has an attractive expense ratio of just 0.07%. When coupled with its broad selection of stocks (exactly 1,000 holdings as of writing), it’s a great option for investors looking to diversify their portfolios. The fund has $14.2 billion in assets under management, more than twice as much as any other fund on this list, which speaks to how appealing it is to investors.The ETF’s top stock pick with a 0.93% weighting is credit ratings agency and analytics company Fair Isaac Corporation (NYSE:FICO). FICO jumped to an all-time high in hedge fund ownership during Q2, with 35% more money managers going long FICO over the last three quarters. Fair Isaac Corporation (NYSE:FICO) delivered record revenue of $399 million in the company’s fiscal Q3 2023, up 14% year-over-year. Revenue from mortgage originations was particularly strong during the quarter, rising by 135% from a year earlier.Baron FinTech Fund is bullish on the long-term earnings outlook for Fair Isaac Corporation (NYSE:FICO) as the fund shared in its second quarter 2023 investor letter:“Shares of Fair Isaac Corporation (NYSE:FICO), a data and analytics company that helps predict consumer behavior, contributed to performance. The company reported solid quarterly financial results and modestly raised its full-year outlook while taking a more conservative approach to guidance due to macroeconomic uncertainty. CEO Will Lansing sounded confident that the business can hold up well across various macro backdrops and sounded particularly excited about the momentum in the software business. We retain conviction and believe that FICO will be a steady earnings compounder, which should drive solid returns for the stock over the long term.”6. iShares Morningstar Small-Cap Growth ETF (ISCG)Year-to-Date Returns: 14.8% Closing out the first half of the list of best performing ETFs is iShares Morningstar Small-Cap Growth ETF (ISCG), which sports a paltry 0.06% expense ratio. The fund targets U.S.-based small-cap companies which are projected to deliver above market rate earnings growth. It held an even 1,500 stocks as of writing, lead by Saia, Inc. (NASDAQ:SAIA) at 0.59% weighting.Hedge funds bailed on Saia, Inc. (NASDAQ:SAIA) in the third quarter of last year but came storming back into the stock during the second quarter of this year, as there was a 40% jump in the number of smart money managers long SAIA. The transportation company has seen falling demand in recent quarters due to the soft economic backdrop, but did note in its Q2 conference call that demand showed continued improvement throughout each month of the second quarter and was trending towards positive growth territory in July.The Artisan Small Cap Fund found several reasons to add to its Saia, Inc. (NASDAQ:SAIA) holding in Q2, as the fund outlined in its second quarter 2023 investor letter:“Along with Exact Sciences, notable adds in the quarter included Twist Bioscience, Saia and Crocs. Saia, Inc. (NASDAQ:SAIA) operates in less-than-truckload shipping, a relatively attractive part of transportation that features several solid franchises supported by real estate assets and network advantages. Saia has been opening new terminals across the Northeast, raising its terminal count from 151 at the end of 2016 to 187 as of Q4 2022. With its Northeast expansion largely complete, Saia is entering a new growth phase that should unlock additional operating leverage. Thanks to a strengthened delivery network that enables higher quality service levels to customers, we believe Saia can simultaneously grow at a healthy pace and realize higher prices. We are cognizant that the slowing economy could reduce industry (and Saia’s) shipment volumes, but we have added to the position given its reasonable valuation, signs that shipping volumes are troughing and resilient pricing.” See which of this year’s best performing ETFs were holding Embraer S.A. (NYSE:ERJ), Axon Enterprise, Inc. (NASDAQ:AXON), Alarm.com Holdings, Inc. (NASDAQ:ALRM), and others by clicking the link below. Click to continue reading and see the 5 Best Performing Small-cap ETFs in 2023. Suggested articles:Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets15 Stocks to Buy with Steady Dividends10 Best Gold ETFs Disclosure: None. 10 Best Performing Small-cap ETFs in 2023 is originally published at Insider Monkey.

Insider Monkey

10 Best Performing Small-cap ETFs in 2023

https://finance.yahoo.com/news/10-best-performing-small-cap-223438277.html

1a16cd2d-1323-3a35-8bee-36411a281128

FIGS

SANTA MONICA, Calif., September 06, 2023--(BUSINESS WIRE)--FIGS, Inc. (NYSE: FIGS), the direct-to-consumer apparel and lifestyle brand dedicated to the healthcare community, today announced that Daniella Turenshine, Chief Financial Officer, is scheduled to participate in a fireside chat at the Piper Sandler Growth Frontiers Conference on Wednesday, September 13, 2023, at 11:30 a.m. ET.The audio portion of the fireside chat will be webcast live over the internet and can be accessed at https://ir.wearfigs.com. An online archive will be available on that site for a period of 90 days following the fireside chat.About FIGSFIGS is a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower, and serve current and future generations of healthcare professionals. We create technically advanced apparel and products for healthcare professionals that feature an unmatched combination of comfort, durability, function, and style. We market and sell our products in 24 countries directly through our digital platform to provide a seamless experience for healthcare professionals.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906796299/en/ContactsInvestors:Jean [email protected] Media:Todd [email protected]

Business Wire

FIGS Announces Participation in the Piper Sandler Growth Frontiers Conference

https://finance.yahoo.com/news/figs-announces-participation-piper-sandler-200500091.html

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