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SPRY

ARS continues engagement with U.S. FDA on final labeling and post-marketing commitments for the neffy® new drug application; PDUFA target action date set for September 19, 2023Ended second quarter with $252.2 million in cash, cash equivalents and short-term investments; well-capitalized to support anticipated launch of neffy in the U.S. and an expected operating runway of at least three yearsSAN DIEGO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- ARS Pharmaceuticals, Inc. (Nasdaq: SPRY), a biopharmaceutical company dedicated to empowering at-risk patients and caregivers to better protect themselves from severe allergic reactions that could lead to anaphylaxis, today reported business updates and financial results for the second quarter of 2023.“Our primary focus is on making neffy, an investigational new drug, available to people as quickly as possible and we believe that our interactions with FDA are nearly complete,” said Richard Lowenthal, president and chief executive officer of ARS. “With a PDUFA date next month, we continue to advance our preparations to ensure we are well-positioned for a successful launch of neffy in the U.S., if approved. We are in the final stages of labeling and post-marketing commitment discussions with FDA and are putting the right structures in place to enable patient access to neffy quickly, within about eight weeks from the final label. We are excited to not only transition the company to a commercial organization, but to potentially bring to the allergy community the first medical treatment advancement in more than 35 years: an easy-to-carry, simple-to-administer, needle-free nasal spray to address the anxiety and hesitation associated with today’s injectable devices.”Preparing for U.S. launch of neffy®In May, the U.S. Food and Drug Administration (FDA) convened an Advisory Committee meeting, which concluded a favorable benefit-risk profile of neffy, with a 16:6 vote in favor for adults and 17:5 vote in favor for children (≥30 kg) for the treatment of patients with allergic reactions (Type 1), including anaphylaxis. The Advisory Committee vote, while not binding, will be considered by FDA when making its decision regarding the potential approval of neffy.In June, FDA extended the Prescription Drug User Fee Act (PDUFA) target action date to September 19, 2023, for the New Drug Application (NDA) for neffy (Intranasal (IN) Epinephrine) for the treatment of allergic reactions (Type 1), including anaphylaxis, for adults and children ≥30 kg. If approved, neffy would be the first needle-free, non-injectable epinephrine treatment available.ARS’s U.S. commercial preparedness activities are well underway, and its commercial leadership team and area sales managers are in place. The recruitment process for the expected 115 field-based representatives is progressing on track, pending FDA approval. The company is currently implementing marketing and market access strategies to increase awareness and readiness for the potential launch of neffy.Story continuesAdditional Business Updates and Anticipated MilestonesARS further broadened the scope of its intellectual property position for neffy with a recently issued U.S. patent on August 8, 2023, and an allowed second patent application by the U.S. Patent and Trademark Office. The issued patent and the allowed patent application are directed to the use of intranasal epinephrine formulations, including the use of bile acid absorption enhancers, for the treatment of allergic diseases, such as urticaria. Topline data from the company’s ongoing Phase 2 randomized, placebo-controlled study of neffy in urticaria patients are expected by the fourth quarter of 2023.Marketing authorization application (MAA) for neffy is under review by the European Medicines Agency with a decision expected by year end 2023.Second Quarter 2023 Financial ResultsCash Position: Cash, cash equivalents and short-term investments were $252.2 million as of June 30, 2023, which ARS believes are sufficient to fund its current operating plan for at least three years.R&D Expenses: Research and development (R&D) expenses were $7.3 million for the quarter ended June 30, 2023.G&A Expenses: General and administrative (G&A) expenses were $13.3 million for the quarter ended June 30, 2023.Net Loss: Net loss was $17.4 million for the quarter ended June 30, 2023. About Type I Allergic Reactions including Anaphylaxis Type I severe allergic reactions are serious and potentially life-threatening events that can occur within minutes of exposure to an allergen and require immediate treatment with epinephrine, the only FDA-approved medication for these reactions. While epinephrine autoinjectors have been shown to be highly effective, there are well published limitations that result in many patients and caregivers delaying or not administering treatment in an emergency situation. These limitations include fear of the needle, lack of portability, needle-related safety concerns, lack of reliability, and complexity of the devices. There are approximately 25 to 40 million people in the United States who experience Type I severe allergic reactions. Of those, only 3.3 million currently have an active epinephrine autoinjector prescription, and of those, only half consistently carry their prescribed autoinjector. Even if patients or caregivers carry an autoinjector, more than half either delay or do not administer the device when needed in an emergency.About ARS Pharmaceuticals, Inc.ARS is a biopharmaceutical company dedicated to empowering at-risk patients and caregivers to better protect themselves from severe allergic reactions that could lead to anaphylaxis. The Company is developing neffy® (also referred to as ARS-1), an intranasal epinephrine product in clinical development for patients and their caregivers with Type I allergic reactions including food, medications and insect bites that could lead to life-threatening anaphylaxis. For more information, visit www.ars-pharma.com.Forward-Looking Statements Statements in this press release that are not purely historical in nature are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, ARS’s projected cash runway; the anticipated timing for regulatory review decisions on neffy and the potential approval of neffy; ARS’s belief that its interactions with FDA are nearly complete; the anticipated successful US launch of neffy, if approved, and the timing thereof; ARS’s expectation that it will be able to enable patient access to neffy within about eight weeks after approval; the expected number of field-based representatives and the expectation that ARS will complete its hiring goal upon approval of neffy; the expected reporting of topline data from ARS’s Phase 2 study of neffy in urticaria patients and the timing thereof; the estimated addressable patient population for neffy; and other statements that are not historical fact. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipate,” “plans,” “expects,” “on track to,” “will,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon ARS’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the ability to obtain and maintain regulatory approval for neffy; the Advisory Committee decision should not be relied on as an indication that neffy will ultimately be approved; the FDA is not bound by the Advisory Committee decision or any of its recommendations and there are a number of instances where the FDA has voted against the recommendations of advisory committees; the PDUFA target action date may be further delayed due to various factors outside ARS’s control; even though ARS believes its interactions with the FDA are nearly complete, there is no guarantee that new issues will not be identified which could delay or prevent the approval of neffy, and ARS’s belief that its interactions with the FDA are nearly complete should not be relied on as an indication that the FDA will ultimately approve neffy; results from clinical trials may not be indicative of results that may be observed in the future; potential safety and other complications from neffy; the labelling for neffy, if approved; the scope, progress and expansion of developing and commercializing neffy; the size and growth of the market therefor and the rate and degree of market acceptance thereof vis-à-vis intramuscular injectable products; ARS’s ability to protect its intellectual property position; and the impact of government laws and regulations. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” in ARS’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on May 15, 2023, and in ARS’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, being filed with the SEC today. This document can also be accessed on ARS’s web page at ir.ars-pharma.com by clicking on the link “Financials & Filings.”The forward-looking statements included in this press release are made only as of the date hereof. ARS assumes no obligation and does not intend to update these forward-looking statements, except as required by law.ARS Investor Contacts:Justin ChakmaARS [email protected] AllaireTHRUST Strategic [email protected] Media Contact:Laura O'NeillFINN [email protected] Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets(in thousands, except share and par value data)   June 30, 2023  December 31, 2022   (unaudited)    Assets      Current assets:      Cash and cash equivalents $119,017  $210,518 Short-term investments  133,191   63,863 Prepaid expenses and other current assets  2,826   3,319 Total current assets  255,034   277,700 Right-of-use asset  349   445 Fixed assets, net  594   329 Other assets  2,775   2,961 Total assets $258,752  $281,435 Liabilities, convertible preferred stock and stockholders’ equity      Current liabilities:      Accounts payable and accrued liabilities (including related party amounts of $170 and $16, respectively) $9,821  $4,931 Lease liability, current  233   230 Contract liability, current  —   283 Total current liabilities  10,054   5,444 Lease liability, net of current portion  146   251 Contract liability, net of current portion  —   2,854 Total liabilities  10,200   8,549 Commitments and contingencies      Stockholders’ equity      Preferred stock, $0.0001 par value per share; 10,000,000 shares authorized at June 30, 2023 and December 31, 2022; no shares issued and outstanding at June 30, 2023 and December 31, 2022  —   — Common stock, $0.0001 par value per share; 200,000,000 shares authorized at June 30, 2023 and December 31, 2022; 95,322,953 and 93,943,316 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively  9   9 Additional paid-in capital  357,992   349,408 Accumulated other comprehensive (loss) gain, net  (180)  407 Accumulated deficit  (109,269)  (76,938)Total stockholders’ equity  248,552   272,886 Total liabilities, convertible preferred stock and stockholders’ equity $258,752  $281,435 ARS Pharmaceuticals, Inc.Condensed Consolidated Statements of Operations and Comprehensive Loss(in thousands, except share and per share data)(unaudited) Three Months Ended June 30,  Six Months Ended June 30,  2023  2022  2023  2022 Revenue under collaboration agreements$10  $464  $30  $1,127             Operating expenses:           Research and development (including related party amounts of $484, $572, $1,075 and $1,112, respectively) 7,308   4,350   13,860   9,773 General and administrative (including related party amounts of $181, $106, $518 and $271, respectively) 13,305   2,458   25,486   4,797 Total operating expenses 20,613   6,808   39,346   14,570 Loss from operations (20,603)  (6,344)  (39,316)  (13,443)Other income (expense), net 3,233   (76)  6,985   (227)Net loss$(17,370) $(6,420) $(32,331) $(13,670)Change in unrealized gains and losses on available-for-sale securities (248)  —   (587)  — Comprehensive loss$(17,618) $(6,420) $(32,918) $(13,670)Net loss per share, basic and diluted$(0.18) $(0.21) $(0.34) $(0.45)Weighted-average shares outstanding used in computing net loss per share, basic and diluted 94,911,268   30,606,773   94,571,180   30,488,749 

GlobeNewswire

ARS Reports Second Quarter 2023 Financial Results and Provides Business Updates

https://finance.yahoo.com/news/ars-reports-second-quarter-2023-200000800.html

7dc134d9-89f4-3add-b17b-ef31bbfceb6e

SPRY

Galloway Capital decried Imperial Petroleum’s recent unit offering. RA Capital increased its investment in ARS Pharmaceuticals.Continue reading

Barrons.com

Imperial Petroleum, ARS Pharmaceuticals Stock, and More See Action From Activist Investors

https://finance.yahoo.com/m/5a2aaceb-1852-300a-ac02-eaeb25e36ec8/imperial-petroleum-ars.html

5a2aaceb-1852-300a-ac02-eaeb25e36ec8

SPSC

SPS Commerce, Inc. (NASDAQ:SPSC) shareholders might be concerned after seeing the share price drop 11% in the last month. But that doesn't change the fact that the returns over the last five years have been very strong. We think most investors would be happy with the 258% return, over that period. Generally speaking the long term returns will give you a better idea of business quality than short periods can. Of course, that doesn't necessarily mean it's cheap now.With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. Check out our latest analysis for SPS Commerce There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).During five years of share price growth, SPS Commerce achieved compound earnings per share (EPS) growth of 70% per year. This EPS growth is higher than the 29% average annual increase in the share price. So one could conclude that the broader market has become more cautious towards the stock. Of course, with a P/E ratio of 100.68, the market remains optimistic.The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).earnings-per-share-growthWe know that SPS Commerce has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.A Different PerspectiveWe're pleased to report that SPS Commerce shareholders have received a total shareholder return of 30% over one year. Since the one-year TSR is better than the five-year TSR (the latter coming in at 29% per year), it would seem that the stock's performance has improved in recent times. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. If you would like to research SPS Commerce in more detail then you might want to take a look at whether insiders have been buying or selling shares in the company.Story continuesIf you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on 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.

Investors in SPS Commerce (NASDAQ:SPSC) have seen stellar returns of 258% over the past five years

https://finance.yahoo.com/news/investors-sps-commerce-nasdaq-spsc-141214686.html

e255d49f-ff4d-3346-88cd-1cc734c9ea37

SPSC

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Speaking of which, we noticed some great changes in SPS Commerce's (NASDAQ:SPSC) returns on capital, so let's have a look.Understanding Return On Capital Employed (ROCE)Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for SPS Commerce:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.12 = US$72m ÷ (US$736m - US$112m) (Based on the trailing twelve months to June 2023).Thus, SPS Commerce has an ROCE of 12%. In absolute terms, that's a satisfactory return, but compared to the Software industry average of 9.2% it's much better. View our latest analysis for SPS Commerce roceIn the above chart we have measured SPS Commerce's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering SPS Commerce here for free.How Are Returns Trending?We like the trends that we're seeing from SPS Commerce. The data shows that returns on capital have increased substantially over the last five years to 12%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 106%. So we're very much inspired by what we're seeing at SPS Commerce thanks to its ability to profitably reinvest capital.In Conclusion...A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what SPS Commerce has. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. Therefore, we think it would be worth your time to check if these trends are going to continue.Story continuesBefore jumping to any conclusions though, we need to know what value we're getting for the current share price. That's where you can check out our FREE intrinsic value estimation that compares the share price and estimated value.While SPS Commerce isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.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.

SPS Commerce (NASDAQ:SPSC) Shareholders Will Want The ROCE Trajectory To Continue

https://finance.yahoo.com/news/sps-commerce-nasdaq-spsc-shareholders-133453264.html

9bd7cdec-745b-3132-bc27-3591eb9b12b4

SPTN

Morgan's role is elevated as the food solutions company realizes benefits from its merchandising transformationGRAND RAPIDS, Mich., Sept. 6, 2023 /PRNewswire/ -- Food solutions company SpartanNash (the "Company") (Nasdaq: SPTN) today announced the promotion of Bennett Morgan to Executive Vice President, Chief Merchandising Officer. Morgan joined SpartanNash in January 2022 as Senior Vice President, Chief Merchandising Officer. He leads fresh, center store and pharmacy merchandising, category management, pricing, promotions and master data management.SpartanNash Promotes Bennett Morgan to EVP, Chief Merchandising Officer"Bennett's leadership has advanced our capabilities in Merchandising and accelerated the benefits we are realizing from our transformation work," said SpartanNash CEO Tony Sarsam. "Merchandising continues to play a critical role in our store guest experience, and we are leveraging those insights to help our independent grocery customers grow their businesses."Morgan's promotion follows the announcement of two newly appointed Merchandising leaders at SpartanNash – Arpen Shah as Vice President, Merchandising Strategy and Analytics, and Brandon Pasch as Vice President, Center Store Merchandising. These organizational investments reflect the Company's continued commitment to its merchandising transformation, which leverages key insights to drive enhanced category planning, promotional effectiveness and a more compelling customer offer.Prior to SpartanNash, Morgan worked at Amazon, where he helped launch its fast-growing omni-channel grocery business, including opening its first physical grocery stores across the country. He served as Amazon Fresh Category Leader overseeing fresh as well as center store merchandising in different capacities over time.Prior to Amazon, Morgan served as Vice President, Merchandising for Walmart China and Japan, managing all non-buying portions of the merchandising organization. His key focus areas included cost negotiations and advanced data-led capabilities in assortment, pricing and promotions. He also spent several years of his career at H-E-B leading lean store operations, supply chain, manufacturing and merchandising efforts. Prior to H-E-B, he worked at Boston Consulting Group and Citibank.Story continuesMorgan earned his undergraduate degree in economics from the University of Texas at Austin and his Master of Business Administration from Dartmouth College.About SpartanNash SpartanNash (Nasdaq: SPTN) is a food solutions company that delivers the ingredients for a better life. Committed to fostering a People First culture, the SpartanNash family of Associates is 17,500 and growing. SpartanNash operates two complementary business segments - food wholesale and grocery retail. Its global supply chain network serves wholesale customers that include independent and chain grocers, national retail brands, e-commerce platforms, and U.S. military commissaries and exchanges. The Company distributes products for every aisle in the grocery store, from fresh produce to household goods to its OwnBrands, which include the Our Family® portfolio of products. On the retail side, SpartanNash operates 144 brick-and-mortar grocery stores, primarily under the banners of Family Fare, Martin's Super Markets and D&W Fresh Market, in addition to dozens of pharmacies and fuel centers. Leveraging insights and solutions across its segments, SpartanNash offers a full suite of support services for independent grocers. For more information, visit spartannash.com.CONTACT:  Adrienne Chance  SVP, Communications  SpartanNash  [email protected] (PRNewsfoto/SpartanNash)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/spartannash-promotes-bennett-morgan-to-evp-chief-merchandising-officer-301918276.htmlSOURCE SpartanNash

PR Newswire

SpartanNash Promotes Bennett Morgan to EVP, Chief Merchandising Officer

https://finance.yahoo.com/news/spartannash-promotes-bennett-morgan-evp-120000982.html

06db8cea-8ba4-3d35-bebf-408043275446

SPTN

Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that SpartanNash Company (NASDAQ:SPTN) is about to go ex-dividend in just three days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is important as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. Meaning, you will need to purchase SpartanNash's shares before the 14th of September to receive the dividend, which will be paid on the 29th of September.The company's next dividend payment will be US$0.21 per share, and in the last 12 months, the company paid a total of US$0.86 per share. Last year's total dividend payments show that SpartanNash has a trailing yield of 4.0% on the current share price of $21.31. If you buy this business for its dividend, you should have an idea of whether SpartanNash's dividend is reliable and sustainable. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing. See our latest analysis for SpartanNash 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. SpartanNash paid out more than half (72%) of its earnings last year, which is a regular payout ratio for most companies. Yet cash flow is typically more important than profit for assessing dividend sustainability, so we should always check if the company generated enough cash to afford its dividend. SpartanNash paid out more free cash flow than it generated - 150%, to be precise - last year, which we think is concerningly high. It's hard to consistently pay out more cash than you generate without either borrowing or using company cash, so we'd wonder how the company justifies this payout level.Story continuesSpartanNash paid out less in dividends than it reported in profits, but unfortunately it didn't generate enough cash to cover the dividend. Cash is king, as they say, and were SpartanNash to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign.Click here to see the company's payout ratio, plus analyst estimates of its future dividends.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. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. That's why it's comforting to see SpartanNash's earnings have been skyrocketing, up 21% per annum for the past five years. Earnings have been growing quickly, but we're concerned dividend payments consumed most of the company's cash flow over the past year.Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. SpartanNash has delivered 10% dividend growth per year on average over the past 10 years. It's exciting to see that both earnings and dividends per share have grown rapidly over the past few years.The Bottom LineIs SpartanNash an attractive dividend stock, or better left on the shelf? The best dividend stocks typically boast a long history of growing earnings per share (EPS) via a combination of earnings growth and buybacks. That's why we're glad to see SpartanNash growing its EPS, buying back stock and paying out a reasonable percentage of its earnings as dividends. However, we note with some concern that it paid out 150% of its free cash flow last year, which is uncomfortably high and makes us wonder why the company chose to spend even more cash on buybacks. Overall we're not hugely bearish on the stock, but there are likely better dividend investments out there.If you're not too concerned about SpartanNash's ability to pay dividends, you should still be mindful of some of the other risks that this business faces. We've identified 4 warning signs with SpartanNash (at least 1 which makes us a bit uncomfortable), and understanding these should be part of your investment process.If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Three Days Left To Buy SpartanNash Company (NASDAQ:SPTN) Before The Ex-Dividend Date

https://finance.yahoo.com/news/three-days-left-buy-spartannash-121431924.html

99795a32-4ffa-3f44-9241-224c947426d2

SRDX

NEW YORK, NY / ACCESSWIRE / August 15, 2023 / Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day August Micro-Cap Conference taking place Wednesday and Thursday, August 16-17, 2023. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links.Sidoti & Company, LLC, Monday, August 14, 2023, Press release picturePresentation Schedule*All Times ESTWednesday, August 16, 2023 (Day 1)8:30-9:00Ohmyhome Ltd. (OMH)Hookipa Pharma Inc. (HOOK)*****9:15-9:45Loop Industries (LOOP)Zomedica Inc (ZOM)LEE Enterprises, Inc. (LEE)10:00-10:30Mativ Holdings, Inc. (MATV)DLH Holdings (DLHC)T2 Biosystems, Inc. (TTOO)10:45-11:15Near Intelligence (NIR)Surmodics Inc. (SRDX)L.B. Foster Company (FSTR)11:30-12:00IDACORP, Inc (IDA)Harvard Bioscience (HBIO)Citizens, Inc. (CIA)12:15-12:45Independence Contract Drilling (ICD)Personalis (PSNL)Silvercrest Asset Management Group Inc. (SAMG)1:00-1:30Ideal Power (IPWR)Anebulo Pharmaceuticals (ANEB)GEE Group (JOB)1:45-2:15Powell Industries, Inc. (POWL)MAIA Biotechnology, Inc. (MAIA)Rocky Mountain Chocolate (RMCF)2:30-3:00Innovative Solutions & Support (ISSC)Hillstream BioPharma, Inc. (HILS)Super League Gaming, Inc (SLGG)3:15-3:45Unisys Corporation (UIS)Markforged (MKFG)CaliberCos Inc. (CWD)4:00-4:30Sonim Technologies (SONM)KLX Energy Services Holdings (KLXE)Comstock Inc (LODE)1x1s Only(16th)DevvStream Inc. (DSTRF)Hall of Fame Resort & Entertainment Co. (HOFV)Paysign, Inc. (PAYS)****************All Times ESTThursday, August 17, 2023 (Day 2)8:30-9:00*****AGBA Group (AGBA)*****9:15-9:45MtronPTI (MPTI)The Real Brokerage Inc (REAX)Splash Beverage Group (SBEV)10:00-10:30CLIQ Digital AG (CLIQ)LifeMD (LFMD)Mistras Group (MG)10:45-11:15Innovative Eyewear, Inc. (LUCY)CareCloud (CCLD)Granite Construction Inc. (GVA)11:30-12:00Shapeways (SHPW)Processa Pharmaceuticals (PCSA)Landsea Homes (LSEA)12:15-12:45*****Modular Medical (MODD)Sidus Space (SIDU)1:00-1:30Daktronics (DAKT)Kala Pharmaceuticals (KALA)Terran Orbital (LLAP)1:45-2:15SOBR Safe Inc. (SOBR)Xcel Brands (XELB)SYLA Technologies (SYT)2:30-3:00Intellicheck (IDN)Alpha Teknova, Inc. (TKNO)ClearOne, Inc. (CLRO)3:15-3:45AudioEye Inc (AEYE)Quince Therapeutics (QNCX)Astra Space (ASTR)4:00-4:30Iteris, Inc. (ITI)*****ARC Document Solutions (ARC)1x1s Only(17th)Hall of Fame Resort & Entertainment Co. (HOFV)Kelly Services, Inc. (KELYA)Paysign, Inc. (PAYS)Tennant Company (TNC)**********About Sidoti Events, LLC ("Events") and Sidoti & Company, LLC ("Sidoti")In 2023, Sidoti & Company, LLC (www.sidoti.com) formed a sister company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees. The relationship allows Events to draw on the nearly 25 years of experience Sidoti had as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the $200 million-$5 billion market cap range. Sidoti's coverage universe comprises approximately 160 equities of which around 40 percent participate in the firm's rapidly growing Company Sponsored Research ("CSR") program. Events is a leading provider of corporate access through the eight investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Event's benefits from Sidoti's small- and microcap-focused nationwide sales force, which has connections with 1,500 institutional relationships in North America. This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.SOURCE: Sidoti Events, LLC and Sidoti & Company, LLCView source version on accesswire.com: https://www.accesswire.com/774189/Sidoti-Events-LLCs-Virtual-August-Micro-Cap-Conference

ACCESSWIRE

Sidoti Events, LLC’s Virtual August Micro-Cap Conference

https://finance.yahoo.com/news/sidoti-events-llc-virtual-august-142000910.html

f9242db0-9c20-3666-ab8b-da91010fb1db

SRDX

Surmodics, Inc. SRDX has been gaining from its solid prospects in the thrombectomy business over the past few months. The optimism led by a solid third-quarter fiscal 2023 performance and its consistent efforts to boost research and development (R&D) are expected to contribute further. Yet, concerns related to reliance on third parties and data security threats persist.Over the past year, this Zacks Rank #1 (Strong Buy) stock has gained 12.3% against the 3.5% decline of the industry. The S&P 500 has witnessed 13.1% growth in the said time frame.The renowned medical device and in-vitro diagnostics technology provider has a market capitalization of $513.9 million. Surmodics projects 76.8% growth for fiscal 2023, expecting to maintain its strong performance. SRDX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 71.2%.Zacks Investment ResearchImage Source: Zacks Investment ResearchLet’s delve deeper.Consistent Efforts to Boost R&D: Surmodics’ solid efforts to improve its R&D stature have been a key growth driver, which raises our optimism. The company’s whole product solutions pipeline and sirolimus-based below-the-knee drug-coated balloon program deserve mention. Surmodics has been making progress using its internally developed .014 balloon platform.For the first nine months of fiscal 2023, R&D expenses reflected continued investment in medical device product development, including in Surmodics’ Pounce thrombectomy and Sublime radial access product platforms and costs associated with its SurVeil drug-coated balloon (DCB).Thrombectomy Prospects Bright: Surmodics’ aim to leverage its proprietary Pounce thrombectomy platform technology to develop products raises our optimism. On the third quarter of fiscal 2023 earnings call in August, Surmodics’ management stated that sales of its Pounce Arterial Thrombectomy and Sublime Radial products were an important contributor to the 38% medical device business product sales growth achieved in the quarter.Story continuesIn June, Surmodics received the FDA’s approval for the SurVeil DCB.Strong Q3 Results: Surmodics registered a solid uptick in the overall top and bottom lines in the third quarter of fiscal 2023. The company recorded robust revenues from its Medical Device segment and primary sources. During the quarter, Surmodics witnessed strong contributions from sales of its Pounce and Sublime products, indicating their continued solid demand.DownsidesReliance on Third Parties: A principal element of Surmodics’ business strategy is to enter into licensing arrangements with medical devices and other companies that manufacture products incorporating its technologies. The revenues it derives from such arrangements depend upon its ability or its licensees’ ability to successfully develop, obtain regulatory approval for, market and sell products incorporating Surmodics’ technologies. Its failure or the failure of its licensees to meet these requirements could have a material adverse effect on Surmodics’ business.Data Security Threats: Surmodics collects and stores sensitive data, including its proprietary business information, on its networks. The secure maintenance of this information is critical to its operations and business strategy. Despite Surmodics’ security measures, its information technology and infrastructure may be vulnerable to attacks by hackers, resulting from employee error or other disruptions.Estimate TrendSurmodics is witnessing a positive estimate revision trend for fiscal 2023. In the past 90 days, the Zacks Consensus Estimate for its loss per share has narrowed from $1.85 to 22 cents.The Zacks Consensus Estimate for the company’s fourth-quarter fiscal 2023 revenues is pegged at $26 million, suggesting a 0.02% improvement from the year-ago reported number.Other Key PicksA few other top-ranked stocks in the broader medical space are DaVita Inc. DVA, HealthEquity, Inc. HQY and Integer Holdings Corporation ITGR.DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.DaVita has gained 6.9% against the industry’s 7.1% decline over the past year.HealthEquity, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 9.1%.HealthEquity has gained 4.3% against the industry’s 14.1% decline over the past year.Integer Holdings, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.Integer Holdings has gained 30.8% compared with the industry’s 1.5% rise over 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 reportDaVita Inc. (DVA) : Free Stock Analysis ReportSurmodics, Inc. (SRDX) : Free Stock Analysis ReportHealthEquity, Inc. (HQY) : Free Stock Analysis ReportInteger Holdings Corporation (ITGR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why You Should Add Surmodics (SRDX) Stock to Your Portfolio

https://finance.yahoo.com/news/why-add-surmodics-srdx-stock-150400552.html

e7b75a8a-f0e6-3cb8-a830-9966a3215e32

SRE

Key InsightsUsing the Dividend Discount Model, Sempra fair value estimate is US$64.32Current share price of US$70.22 suggests Sempra is potentially trading close to its fair value The US$83.90 analyst price target for SRE is 30% more than our estimate of fair valueDoes the September share price for Sempra (NYSE:SRE) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. This will be done using the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward.We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. Check out our latest analysis for Sempra The MethodWe have to calculate the value of Sempra slightly differently to other stocks because it is a integrated utilities company. Instead of using free cash flows, which are hard to estimate and often not reported by analysts in this industry, dividends per share (DPS) payments are used. Unless a company pays out the majority of its FCF as a dividend, this method will typically underestimate the value of the stock. We use the Gordon Growth Model, which assumes dividend will grow into perpetuity at a rate that can be sustained. For a number of reasons a very conservative growth rate is used that cannot exceed that of a company's Gross Domestic Product (GDP). In this case we used the 5-year average of the 10-year government bond yield (2.2%). The expected dividend per share is then discounted to today's value at a cost of equity of 6.2%. Relative to the current share price of US$70.2, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.Story continuesValue Per Share = Expected Dividend Per Share / (Discount Rate - Perpetual Growth Rate)= US$2.6 / (6.2% – 2.2%)= US$64.3dcfThe AssumptionsNow the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Sempra 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 6.2%, which is based on a levered beta of 0.800. 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 SempraStrengthEarnings growth over the past year exceeded the industry.WeaknessInterest payments on debt are not well covered.Dividend is low compared to the top 25% of dividend payers in the Integrated Utilities market.OpportunityAnnual earnings are forecast to grow for the next 3 years.Good value based on P/E ratio compared to estimated Fair P/E ratio.ThreatDebt is not well covered by operating cash flow.Paying a dividend but company has no free cash flows.Annual earnings are forecast to grow slower than the American market.Next Steps:Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Sempra, there are three relevant factors you should explore:Risks: Case in point, we've spotted 2 warning signs for Sempra you should be aware of, and 1 of them is concerning.Future Earnings: How does SRE'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. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Estimating The Intrinsic Value Of Sempra (NYSE:SRE)

https://finance.yahoo.com/news/estimating-intrinsic-value-sempra-nyse-130644799.html

f4dc1b86-92f8-3610-9709-c89cd741a523

SRE

SAN DIEGO, Sept. 6, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced that its board of directors has declared a $0.595 per share quarterly dividend on the company's common stock, which is payable Oct. 15, 2023, to common stock shareholders of record at the close of business on Sept. 27, 2023. The quarterly dividend has been adjusted for the previously effected two-for-one stock split of the company's common stock.Sempra's board of directors also declared a semi-annual dividend of $24.375 per share on the company's 4.875% Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, Series C, which is payable Oct. 15, 2023, to Series C preferred stock shareholders of record at the close of business on Oct. 1, 2023.About SempraSempra is a leading North American energy infrastructure company that helps meet the daily energy needs of nearly 40 million consumers. As the owner of one of the largest energy networks on the continent, Sempra is helping to electrify and decarbonize some of the world's most significant economic markets, including California, Texas, Mexico and the LNG export market. The company is also consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performance culture focused on safety and operational excellence, leadership and workforce development and diversity and inclusion. Investor's Business Daily named Sempra the top-ranked utility in the U.S. for environmental, social and governance scores and financial performance. Sempra was also included on the Dow Jones Sustainability North America Index for the 12th consecutive year. More information about Sempra is available at sempra.com and on Twitter @Sempra.Sempra logo (PRNewsfoto/Sempra Energy) CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/sempra-declares-common-and-preferred-dividends-301919892.htmlSOURCE Sempra

PR Newswire

Sempra Declares Common and Preferred Dividends

https://finance.yahoo.com/news/sempra-declares-common-preferred-dividends-210400903.html

609510b5-c9a3-32fc-82d2-3b1896386089

SRI

NOVI, Mich., Aug. 24, 2023 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) announced that its facility in Suzhou, China is the recipient of a 2023 Greater Suzhou Best Employer Award. The awards, sponsored by the Suzhou Industrial Park Human Resource Development Co., recognize outstanding companies in the region for their achievements in employer branding, workplace culture, and employee engagement.Stoneridge's facility in Suzhou, China is the recipient of a 2023 Greater Suzhou Best Employer Award.Stoneridge Asia-Pacific was ranked in the Top 5 of more than 300 competing companies to earn the "Best Employer Award" distinction. The evaluation included expert review, public voting, an employee engagement survey, and brand recognition."We are extremely proud of our team in Suzhou. Every day, they truly demonstrate Stoneridge's values in creating a workplace with motivated, talented individuals who work together to deliver world-class products for our customers. It is a new level of achievement, and we share this success with them and our entire organization," said David Chen, Managing Director, Stoneridge Asia-Pacific.In 2020, Stoneridge Asia-Pacific was named a "Best Working Environment" winner in the Greater Suzhou Best Employer award competition. Stoneridge's Suzhou facility employs more than 500 people and produces a range of electronic systems and components for the automotive, commercial vehicle, and off-highway markets, including sensors, canister vent solenoids, actuators, instrument clusters, and switches.About Stoneridge, Inc. Stoneridge, Inc., headquartered in Novi, Michigan, is a global designer and manufacturer of highly engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway and agricultural vehicle markets. Additional information about Stoneridge can be found at www.stoneridge.com.Stoneridge, Inc. (PRNewsfoto/Stoneridge Inc.)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/stoneridge-asia-pacific-earns-2023-greater-suzhou-best-employer-award-301908646.htmlSOURCE Stoneridge Inc.

PR Newswire

Stoneridge Asia-Pacific Earns 2023 Greater Suzhou Best Employer Award

https://finance.yahoo.com/news/stoneridge-asia-pacific-earns-2023-120000120.html

3fa9295d-539b-30f3-8244-e779f5465fd2

SRI

NOVI, Mich., Sept. 7, 2023 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced that Jim Zizelman, president and chief executive officer, and Matt Horvath, chief financial officer, will participate in the CL King's 21st Annual Best Ideas Conference with a presentation at 2:00 p.m. ET on Monday, September 18, 2023. Details on how to join the presentation via webcast will be posted to the "Investors/Webcasts & Presentations" section of the Company's website (www.stoneridge.com) prior to the presentation.Stoneridge, Inc. logo (PRNewsFoto/Stoneridge, Inc.) (PRNewsfoto/Stoneridge, Inc.)About Stoneridge, Inc.Stoneridge, Inc., headquartered in Novi, Michigan, is a global designer and manufacturer of highly engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway and agricultural vehicle markets. Additional information about Stoneridge can be found at www.stoneridge.com.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/stoneridge-to-present-at-cl-kings-21st-annual-best-ideas-conference-301921174.htmlSOURCE Stoneridge, Inc.

PR Newswire

Stoneridge to Present at CL King's 21st Annual Best Ideas Conference

https://finance.yahoo.com/news/stoneridge-present-cl-kings-21st-210000164.html

474af4de-c0f7-37f1-84f3-20bedeef971e

SSB

The board of SouthState Corporation (NASDAQ:SSB) has announced that it will be paying its dividend of $0.52 on the 18th of August, an increased payment from last year's comparable dividend. Even though the dividend went up, the yield is still quite low at only 2.7%. Check out our latest analysis for SouthState SouthState's Earnings Will Easily Cover The DistributionsIf it is predictable over a long period, even low dividend yields can be attractive.SouthState has established itself as a dividend paying company with over 10 years history of distributing earnings to shareholders. Based on SouthState's last earnings report, the payout ratio is at a decent 28%, meaning that the company is able to pay out its dividend with a bit of room to spare.Looking forward, earnings per share is forecast to fall by 11.2% over the next 3 years. Despite that, analysts estimate the future payout ratio could be 31% over the same time period, which is in a pretty comfortable range.historic-dividendSouthState Has A Solid Track RecordThe company has a sustained record of paying dividends with very little fluctuation. Since 2013, the annual payment back then was $0.72, compared to the most recent full-year payment of $2.08. This means that it has been growing its distributions at 11% per annum over that time. We can see that payments have shown some very nice upward momentum without faltering, which provides some reassurance that future payments will also be reliable.The Dividend Looks Likely To GrowInvestors who have held shares in the company for the past few years will be happy with the dividend income they have received. We are encouraged to see that SouthState has grown earnings per share at 15% per year over the past five years. With a decent amount of growth and a low payout ratio, we think this bodes well for SouthState's prospects of growing its dividend payments in the future.We Really Like SouthState's DividendIn summary, it is always positive to see the dividend being increased, and we are particularly pleased with its overall sustainability. 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 in all, this checks a lot of the boxes we look for when choosing an income stock.Story continuesCompanies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. However, there are other things to consider for investors when analysing stock performance. Case in point: We've spotted 2 warning signs for SouthState (of which 1 is potentially serious!) you should know about. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.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.

SouthState (NASDAQ:SSB) Has Announced That It Will Be Increasing Its Dividend To $0.52

https://finance.yahoo.com/news/southstate-nasdaq-ssb-announced-increasing-100614253.html

66bbad0e-7ad0-3e60-82ef-ec40fbf449be

SSB

It looks like SouthState Corporation (NASDAQ:SSB) is about to go ex-dividend in the next three days. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the dividend. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. Thus, you can purchase SouthState's shares before the 10th of August in order to receive the dividend, which the company will pay on the 18th of August.The company's next dividend payment will be US$0.52 per share, and in the last 12 months, the company paid a total of US$2.08 per share. Last year's total dividend payments show that SouthState has a trailing yield of 2.7% on the current share price of $78.35. 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! So we need to investigate whether SouthState can afford its dividend, and if the dividend could grow. See our latest analysis for SouthState Dividends are typically paid from company earnings. If a company pays more in dividends than it earned in profit, then the dividend could be unsustainable. Fortunately SouthState's payout ratio is modest, at just 28% of profit.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 the company's payout ratio, plus analyst estimates of its future dividends.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 decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. For this reason, we're glad to see SouthState's earnings per share have risen 19% per annum over the last five years.Story continuesAnother key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. In the last 10 years, SouthState has lifted its dividend by approximately 11% a year on average. It's great to see earnings per share growing rapidly over several years, and dividends per share growing right along with it.Final TakeawayShould investors buy SouthState for the upcoming dividend? 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, SouthState appears to have some promise as a dividend stock, and we'd suggest taking a closer look at it.On that note, you'll want to research what risks SouthState is facing. Be aware that SouthState is showing 2 warning signs in our investment analysis, and 1 of those can't be ignored...Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is It Smart To Buy SouthState Corporation (NASDAQ:SSB) Before It Goes Ex-Dividend?

https://finance.yahoo.com/news/smart-buy-southstate-corporation-nasdaq-120908511.html

05f7ee31-c2df-3394-842b-1b0f54d9209a

SSD

The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But when you pick a company that is really flourishing, you can make more than 100%. For example, the Simpson Manufacturing Co., Inc. (NYSE:SSD) share price has soared 114% in the last half decade. Most would be very happy with that. It's also good to see the share price up 25% over the last quarter. This could be related to the recent financial results, released recently - you can catch up on the most recent data by reading our company report.With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. View our latest analysis for Simpson Manufacturing To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).During five years of share price growth, Simpson Manufacturing achieved compound earnings per share (EPS) growth of 28% per year. This EPS growth is higher than the 16% average annual increase in the share price. So it seems the market isn't so enthusiastic about the stock these days.The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).earnings-per-share-growthWe're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. This free interactive report on Simpson Manufacturing's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.Story continuesWhat About Dividends?It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Simpson Manufacturing's TSR for the last 5 years was 127%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!A Different PerspectiveWe're pleased to report that Simpson Manufacturing shareholders have received a total shareholder return of 49% over one year. And that does include the dividend. That gain is better than the annual TSR over five years, which is 18%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. It's always interesting to track share price performance over the longer term. But to understand Simpson Manufacturing better, we need to consider many other factors. Take risks, for example - Simpson Manufacturing has 1 warning sign we think you should be aware of.If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can 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.

Investors in Simpson Manufacturing (NYSE:SSD) have seen stellar returns of 127% over the past five years

https://finance.yahoo.com/news/investors-simpson-manufacturing-nyse-ssd-163059170.html

d3a561de-c996-3f46-bae0-4d2885cf36c0

SSD

PLEASANTON, Calif., Aug. 30, 2023 /PRNewswire/ -- Simpson Manufacturing Co., Inc. (the "Company") (NYSE: SSD), an industry leader in engineered structural connectors and building solutions, announced today that Mike Olosky, President and Chief Executive Officer, and Brian Magstadt, Chief Financial Officer, will participate in the following upcoming conferences:Simpson Manufacturing Co., Inc. Logo (PRNewsfoto/Simpson Manufacturing Co., Inc.)The Jefferies Industrials Conference in New York City on Wednesday, September 6, 2023. Simpson is scheduled to present at 8:30 a.m. ET and will participate in meetings with investors throughout the day.The D.A. Davidson 22nd Annual Diversified Industrials & Services Conference in Nashville, TN on Thursday, September 21, 2023. Simpson is scheduled to present at 2:00 p.m. CT and will participate in meetings with investors throughout the day.The presentations will be webcast live over the Internet, hosted on the Investor Relations section of the Company's website at ir.simpsonmfg.com. In addition to the live webcast, replays will be available on the Company's website for 90 days following each event.About Simpson Manufacturing Co., Inc. Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its subsidiaries, including Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and shear walls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing fiber materials. The Company primarily supplies its building product solutions to both the residential and commercial markets in North America and Europe. The Company's common stock trades on the New York Stock Exchange under the symbol "SSD."CONTACT:                                                                              Addo Investor [email protected] (310) 829-5400Story continuesCisionView original content to download multimedia:https://www.prnewswire.com/news-releases/simpson-manufacturing-co-inc-announces-september-conference-participation-301912135.htmlSOURCE Simpson Manufacturing Co., Inc.

PR Newswire

Simpson Manufacturing Co., Inc. Announces September Conference Participation

https://finance.yahoo.com/news/simpson-manufacturing-co-inc-announces-130000166.html

5c9f8764-2a66-3cd5-a16f-bf8640b6b90f

SSIC

NEW YORK, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (“Silver Spike” or the “Company”), a specialty finance company that was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies, today announced its financial results for the quarter ended June 30, 2023.Quarter Ended 6/30/23 HighlightsTotal investment income of $2.9 millionNet investment income of $1.9 million, or $0.31 per shareInvestment portfolio of $57.7 million at fair valueNet asset value (“NAV”) per share increased to $14.49 on June 30, 2023 from $14.29 on March 31, 2023A cash dividend of $0.63 per share was declared, consisting of a regular quarterly dividend of $0.23 per share and a special dividend of $0.40 per share. The dividend is payable on September 29, 2023 to stockholders of record on September 15, 2023.Scott Gordon, Chairman and Chief Executive Officer of Silver Spike, commented “We have built a robust portfolio of loans over the past year and are excited to announce our inaugural regular quarterly dividend and special dividend. Our ability to announce our first dividends, after commencing operations as a “blind pool” with no investments, is a testament to Silver Spike's rigorous underwriting standards, specialized structuring skills and cannabis expertise. The cannabis market remains challenging for operators and investors, but we continue to see attractive investment opportunities and will seek to add investments to the portfolio in a disciplined manner.”Conference Call Silver Spike will host a conference call and webcast to discuss the Company's second quarter 2023 financial results at 8:00 a.m. Eastern Time on Friday, August 11, 2023. Participants may register for the call here. A live webcast of the call will also be available on the Company’s website at ssic.silverspikecap.com.Story continuesThe presentation to be used in connection with the conference call and webcast will be available at ssic.silverspikecap.com.A replay of the call will be available at ssic.silverspikecap.com by end of day August 11, 2023.BackgroundSilver Spike Investment Corp. is a closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and has elected to be treated as a regulated investment company for U.S. federal income tax purposes. On February 8, 2022, Silver Spike completed its initial public offering. Silver Spike is managed by Silver Spike Capital, LLC, an investment manager focused on the cannabis and alternative health and wellness industries.Results of OperationsFor the three months ended June 30, 2023, total investment income was $2.9 million. This compares to total expenses of $1.0 million, resulting in net investment income of approximately $1.9 million, or $0.31 per share.Silver Spike recorded a net unrealized loss of $0.5 million during the quarter ended June 30, 2023, primarily related to the fair valuation of our debt investments. The Company generated a net increase in net assets from operations of $1.2 million, or $0.19 per share.Net Asset ValueAs of June 30, 2023, NAV per share increased to $14.49, compared to $14.29 as of March 31, 2023. The increase in NAV per share was primarily driven by the results from operations. Total net assets as of June 30, 2023 were $90.0 million, compared to $88.8 million as of March 31, 2023.Portfolio and Investment ActivityAs of June 30, 2023, Silver Spike’s investment portfolio had an aggregate fair value of approximately $57.7 million, comprising $49.7 million in secured loans in four portfolio companies and $7.9 million in secured notes in two portfolio companies.During the quarter ended June 30, 2023, the Company made one investment.As of June 30, 2023, there were no loans on non-accrual status.Liquidity and Capital ResourcesAs of June 30, 2023, the Company had $32 million in available liquidity, comprising $32 million in cash equivalents.Regular and Special DividendThe Company’s Board of Directors declared a cash dividend of $0.63 per share, consisting of a regular quarterly dividend of $0.23 per share and a special dividend of $0.40 per share.The following are the key dates for the regular and special dividend:Record DateSeptember 15, 2023Payment DateSeptember 29, 2023The special dividend will be paid out of the Company's undistributed taxable income (taxable income in excess of dividends paid) as of March 31, 2023. The Company expects to also pay a special dividend during the quarter ending December 31, 2023.The Company has adopted a dividend reinvestment plan (“DRIP”) that provides for reinvestment of dividends on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, when the Company declares a cash dividend, stockholders who have not “opted out” of the DRIP at least three days prior to the dividend payment date will have their cash dividends automatically reinvested in additional shares of the Company’s common stock. Those stockholders whose shares are held by a broker or other financial intermediary may receive dividends in cash by notifying their broker or other financial intermediary of their election.About Silver Spike Investment Corp.Silver Spike, a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies. Silver Spike’s investment objective is to maximize risk-adjusted returns on equity for its shareholders by investing primarily in secured and unsecured debt in cannabis companies and other companies in the health and wellness sector. Silver Spike is managed by Silver Spike Capital, LLC, an investment manager focused on the cannabis and alternative health and wellness industries. For more information, please visit https://ssic.silverspikecap.com/.Forward-Looking StatementsCertain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about the Company, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in the Company’s filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which the Company makes them. The Company does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.ContactsInvestors:Bill [email protected]:Alan Oshiki and Sydney GeverH/Advisors [email protected] SPIKE INVESTMENT CORP.Statements of Assets and Liabilities     June 30, 2023 December 31, 2022 (unaudited)  ASSETS   Investments at fair value:   Non-control/non-affiliate investments at fair value (amortized cost of $57,433,276 and $50,527,898, respectively)$57,669,044 $50,254,550Cash and cash equivalents 32,895,660  35,125,320Interest receivable 591,368  1,559,081Prepaid expenses 179,657  32,323Total assets$91,355,729 $86,971,274      LIABILITIES     Income-based incentive fees payable$646,494 $-Management fee payable 257,489  170,965Capital gains incentive fee payable 5,000  -Valuation fees payables 93,185  -Administrator fees payable 89,978  57,306Legal fees payable 72,464  42,215Audit fees payable 51,183  50,000Director’s fee payable 31,747  32,049Professional fees payable 26,306  28,744Due to affiliate 2,534  37Excise tax payable -  80,566Other payables 15,136  33,663Total liabilities$1,291,516 $495,545      Commitments and contingencies (Note 6) -  -      NET ASSETS     Common Stock, $0.01 par value, 100,000,000 shares authorized, 6,214,672 and  6,214,672 shares issued and outstanding, respectively$62,147 $62,147Additional paid-in-capital 85,038,887  84,917,788Distributable earnings/(Accumulated losses) 4,943,179  1,495,794Total net assets$90,044,213 $86,475,729NET ASSET VALUE PER SHARE$14.49 $13.91Statements of Operations(Unaudited)       Three Months Ended  Six Months Ended  June 30, 2023  June 30, 2022  June 30, 2023  June 30, 2022 INVESTMENT INCOME           Non-control/non-affiliate investment income           Interest income$2,762,449  $399,591  $5,220,288  $409,664 Fee income 131,250   410,000   131,250   410,000 Total investment income 2,893,699   809,591   5,351,538   819,664                 EXPENSES               Income-based incentive fees 442,673   -   646,494   - Management fee 257,489   55,041   495,908   55,041 Legal expenses 87,256   222,982   186,016   257,051 Audit expense 87,500   83,750   185,383   93,750 Administrator fees 87,853   62,546   165,697   109,697 Insurance expense 66,393   75,542   135,475   122,030 Valuation fees 21,000   -   94,065   - Director expenses 31,746   35,747   67,690   35,747 Professional fees 17,775   -   35,967   40,885 Custodian fees 12,000   -   24,000   24,000 Organizational expenses -   -   -   34,168 Capital gains incentive fees (137,602)  -   5,000   - Other expenses 20,204   52,738   39,708   41,581 Total expenses 994,287   588,346   2,081,403   813,950                 NET INVESTMENT INCOME (LOSS) 1,899,412   221,245   3,270,135   5,714                 NET REALIZED GAIN (LOSS) FROM INVESTMENTS               Non-controlled/non-affiliate investments (210,767)  -   (210,767)  - Net realized gain (loss) from investments (210,767)  -   (210,767)  -                 NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS               Non-controlled/non-affiliate investments (477,241)  (9,508)  509,116   (9,508)Net change in unrealized appreciation/(depreciation) on investments (477,241)  (9,508)  509,116   (9,508)Net realized and unrealized gains (losses) (688,008)  (9,508)  298,349   (9,508)                NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS$1,211,404  $211,737  $3,568,484  $(3,794)                NET INVESTMENT INCOME (LOSS) PER SHARE — BASIC AND DILUTED$0.31  $0.04  $0.53  $- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE — BASIC AND DILUTED$0.19  $0.03  $0.57  $- WEIGHTED AVERAGE SHARES OUTSTANDING — BASIC AND DILUTED 6,214,672   6,214,672   6,214,672   4,893,441 

GlobeNewswire

Silver Spike Investment Corp. Reports Second Quarter 2023 Financial Results

https://finance.yahoo.com/news/silver-spike-investment-corp-reports-020000361.html

628a6b6d-087f-39f5-924e-274ef6af322b

SSIC

NEW YORK, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (“Silver Spike” or the “Company”), a specialty finance company that was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies, today reminded investors that the Company’s Board of Directors declared a cash dividend of $0.63 per share, consisting of a regular quarterly dividend of $0.23 per share and a special dividend of $0.40 per share.The following are the key dates for the regular and special dividend:Record DateSeptember 15, 2023Payment DateSeptember 29, 2023  The special dividend will be paid out of the Company's undistributed taxable income (taxable income in excess of dividends paid) as of March 31, 2023. The Company expects to also pay a special dividend during the quarter ending December 31, 2023.The Company has adopted a dividend reinvestment plan (“DRIP”) that provides for reinvestment of dividends on behalf of its stockholders, unless a stockholder elects to receive cash. As a result, when the Company declares a cash dividend, stockholders who have not “opted out” of the DRIP in accordance with the terms of the DRIP and the procedures of their broker or other financial intermediary will have their cash dividends automatically reinvested in additional shares of the Company’s common stock. A stockholder whose shares are held by a broker or other financial intermediary should contact their broker or other financial intermediary as soon as possible in order to determine the time by which the stockholder must take action in order to receive dividends in cash.About Silver Spike Investment Corp.Silver Spike, a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, was formed to invest across the cannabis ecosystem through investments primarily in the form of direct loans to privately held cannabis companies. Silver Spike’s investment objective is to maximize risk-adjusted returns on equity for its shareholders by investing primarily in secured and unsecured debt in cannabis companies and other companies in the health and wellness sector. Silver Spike is managed by Silver Spike Capital, LLC, an investment manager focused on the cannabis and alternative health and wellness industries. For more information, please visit https://ssic.silverspikecap.com/.Story continuesForward-Looking StatementsCertain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about the Company, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in the Company’s filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which the Company makes them. The Company does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.ContactsInvestors:Bill [email protected]:Alan Oshiki and Sydney GeverH/Advisors [email protected]

GlobeNewswire

Silver Spike Investment Corp. Declares Regular and Special Dividend

https://finance.yahoo.com/news/silver-spike-investment-corp-declares-213000677.html

c2837bef-ced3-3bfc-9433-6f31180a45ae

SSSS

SuRo Capital Corp.NEW YORK, Aug. 02, 2023 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”) (Nasdaq: SSSS) today announced that it will report its financial results for the quarter ended June 30, 2023 after the close of the U.S. market on Wednesday, August 9, 2023.Management will hold a conference call and webcast for investors at 2:00 p.m. PT (5:00 p.m. ET). The conference call access number for U.S. participants is 866-580-3963, and the conference call access number for participants outside the U.S. is +1 786-697-3501. The conference ID number for both access numbers is 7746181. Additionally, interested parties can listen to a live webcast of the call from the “Investor Relations” section of SuRo Capital’s website at www.surocap.com. An archived replay of the webcast will also be available for 12 months following the live presentation.A replay of the conference call may be accessed until 5:00 p.m. PT (8:00 p.m. ET) on August 16, 2023 by dialing 866-583-1035 (U.S.) or +44 (0) 20 3451 9993 (International) and using conference ID number 7746181.About SuRo Capital Corp.SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies. The fund seeks to create a portfolio of high-growth emerging private companies via a repeatable and disciplined investment approach, as well as to provide investors with access to such companies through its publicly traded common stock. SuRo Capital is headquartered in New York, NY and has offices in San Francisco, CA. Connect with the company on Twitter, LinkedIn, and at www.surocap.com.ContactSuRo Capital Corp.(212) [email protected]

GlobeNewswire

SuRo Capital Corp. to Report Second Quarter 2023 Financial Results on Wednesday, August 9, 2023

https://finance.yahoo.com/news/suro-capital-corp-report-second-200500763.html

a6005982-026f-332d-b6e4-925dfb687d71

SSSS

SuRo Capital Corp.Net Asset Value of $7.35 Per Share as of June 30, 2023Board of Directors Authorizes $5 Million Increase to Share Repurchase Program to Aggregate $60 MillionNEW YORK, Aug. 09, 2023 (GLOBE NEWSWIRE) -- SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today announced its financial results for the quarter ended June 30, 2023. Net assets totaled approximately $186.7 million, or $7.35 per share, at June 30, 2023 as compared to $7.59 per share at March 31, 2023 and $9.24 per share at June 30, 2022."The last four months have been amongst the most active periods SuRo Capital has experienced in the last couple of years. We made five investments, three in new portfolio companies and two in follow-on investments. Additionally, we have had one of our SPAC investments close its previously announced transaction and two announce definitive agreements. On July 19, 2023, Colombier Acquisition Corp., a SPAC in which we own Class B units and Class W units, announced it successfully closed its business combination with PSQ Holdings, Inc., and began trading on the New York Stock Exchange under the ticker ‘PSQH.’ Additionally, subsequent to quarter-end, AltC Acquisition Corp. and Churchill Capital Corp VII, two SPACs in which we own sponsor equity, announced they signed definitive merger agreements," said Mark Klein, Chairman, and Chief Executive Officer of SuRo Capital.Mr. Klein continued, “In light of improving market conditions and early signs of recovery in the private markets, we were able to execute on two secondary opportunities at compelling prices. During the second quarter, we added one new portfolio company through a $10.0 million secondary investment in ServiceTitan, Inc., a software business for home and commercial trades. Subsequent to quarter-end, we added two new portfolio companies through a $5.8 million secondary investment in FourKites, Inc., a supply chain visibility software company and a $1.0 million primary investment in Stake Trade, Inc., a sports betting exchange doing business as Prophet Exchange, through SuRo Capital Sports, LLC. Looking ahead, we believe the combination of being strategically opportunistic during times of volatility, along with over $100.0 million of investable capital as of quarter-end, will allow us to seize unique opportunities with high potential returns.”Story continuesMr. Klein concluded, “As we have consistently demonstrated, SuRo Capital is committed to initiatives that enhance shareholder value. Accordingly, as announced in the first quarter and executed during the second quarter, we completed our recent Modified Dutch Auction Tender Offer, which we believe was an efficient and accretive deployment of capital. The Modified Dutch Auction Tender Offer resulted in the purchase of 3.0 million shares of common stock for $4.50 per share. Additionally, on August 7, 2023, our Board of Directors authorized a $5.0 million expansion of the Share Repurchase Program to $60.0 million and an extension of the Share Repurchase Program through October 31st, 2024. As of today, SuRo Capital has approximately $21.4 million available under its Share Repurchase Program. We remain highly focused on balancing our remaining capital between these repurchases and new investment opportunities.”Investment Portfolio as of June 30, 2023At June 30, 2023, SuRo Capital held positions in 37 portfolio companies – 33 privately held and 4 publicly held – with an aggregate fair value of approximately $160.3 million, excluding short-term US treasuries. The Company’s top five portfolio company investments accounted for approximately 51% of the total portfolio at fair value as of June 30, 2023.Top Five Investments as of June 30, 2023Portfolio Company ($ in millions)Cost BasisFair Value% of Total PortfolioLearneo, Inc. (f/k/a Course Hero, Inc.)$15.0$32.520.3%Colombier Sponsor LLC2.717.210.7Blink Health, Inc.15.011.77.3Stormwind, LLC6.410.66.6Locus Robotics Corp.10.010.06.2Total$49.1$82.051.2%__________________Note: Total may not sum due to rounding.Second Quarter 2023 Investment Portfolio ActivityDuring the three months ended June 30, 2023, SuRo Capital made the following new and follow-on investments, excluding short-term US treasuries:Portfolio CompanyInvestmentTransaction DateAmountPayJoy, Inc.Simple Agreement for Future Equity (SAFE)5/25/2023$0.5 millionServiceTitan, Inc.Common Shares6/30/2023$10.0 millionDuring the three months ended June 30, 2023, SuRo Capital exited or received proceeds from the following investments, excluding short-term US treasuries:Portfolio CompanyTransaction DateShares SoldAverage Net Share Price(1)Net Proceeds Realized LossNextdoor Holdings, Inc.(2)Various950,000$3.05$2.9 million$(2.4 million)Ozy Media, Inc.(3)5/4/2023N/AN/A$-$(10.9 million)Residential Homes For Rent, LLC (d/b/a Second Avenue)(4)VariousN/AN/A$0.3 million$-True Global Ventures 4 Plus Pte Ltd6/30/2023N/AN/A$0.3 million$-__________________(1)   The average net share price is the net share price realized after deducting all commissions and fees on the sale(s), if applicable.(2)   As of June 30, 2023, SuRo Capital held 852,416 remaining Nextdoor Holdings, Inc. public common shares.(3)   On May 4, 2023, SuRo Capital abandoned its investment in Ozy Media, Inc.(4)   During the three months ended June 30, 2023, approximately $0.3 million was received from Residential Homes For Rent, LLC (d/b/a Second Avenue) related to the 15% term loan due December 23, 2023. Of the proceeds received, approximately $0.3 million repaid a portion of the outstanding principal and the remaining was attributed to interest.Subsequent to quarter-end through August 8, 2023, SuRo Capital made the following new and follow-on investments, excluding short-term US treasuries:Portfolio CompanyInvestmentTransaction DateAmountFourKites, Inc.Common SharesVarious$5.8 millionShogun Enterprises, Inc. (d/b/a Hearth)Series B-4 Preferred7/12/2023$0.5 millionStake Trade, Inc. (d/b/a Prophet Exchange)(1)Simple Agreement for Future Equity (SAFE)7/26/2023$1.0 million__________________(1)   Investment made through SuRo Capital Sports, LLC.Subsequent to quarter-end through August 8, 2023, SuRo Capital exited or received proceeds from the following investments, excluding short-term US treasuries:Portfolio CompanyTransaction DateShares SoldAverage Net Share Price(1)Net Proceeds Realized LossNextdoor Holdings, Inc.(2)Various589,996$3.09$1.8 million$(1.4 million)Residential Homes For Rent, LLC (d/b/a Second Avenue)(3)7/24/2023N/AN/A$0.1 million$-__________________(1)   The average net share price is the net share price realized after deducting all commissions and fees on the sale(s), if applicable.(2)   As of August 9, 2023, SuRo Capital held 262,420 remaining Nextdoor Holdings, Inc. public common shares.(3)   Subsequent to June 30, 2023, $0.1 million was received from Residential Homes for Rent, LLC (d/b/a Second Avenue) related to the 15% term loan due December 23, 2023. Of the proceeds received, $0.1 million repaid a portion of the outstanding principal and the remaining proceeds were attributed to interest.Second Quarter 2023 Financial Results Quarter EndedJune 30, 2023Quarter EndedJune 30, 2022$ in millionsper share(1)$ in millionsper share(1)     Net investment loss$(3.8)$(0.15)$(3.8)$(0.12)     Net realized loss on investments (13.3) (0.51) (2.0) (0.06)     Net change in unrealized appreciation/(depreciation) of investments 1.5  0.06  (88.6) (2.89)     Net change in net assets resulting from operations – basic(2)$(15.6)$(0.60)$(94.3)$(3.07)     Repurchase of common stock (13.5) 0.33  (6.9) 0.07      Stock-based compensation 0.8  0.03  0.7  0.02      Decrease in net asset value(2)$(28.4)$(0.24)$(100.5)$(2.98)__________________(1)   Based on weighted-average number of shares outstanding for the relevant period.(2)   Totals may not sum due to rounding.Weighted-average common basic shares outstanding were approximately 26.0 million and 30.6 million for the quarters ended June 30, 2023, and 2022, respectively. As of June 30, 2023, there were 25,398,640 shares of the Company’s common stock outstanding.SuRo Capital’s liquid assets were approximately $112.0 million as of June 30, 2023, consisting of cash, short-term US treasuries, and securities of publicly traded portfolio companies not subject to lock-up restrictions at quarter-end.Modified Dutch Auction Tender OfferOn March 17, 2023, SuRo Capital’s Board of Directors authorized a Modified Dutch Auction Tender Offer (“Tender Offer”) to purchase up to 3.0 million shares of the Company’s common stock at a price per share between $3.00 and $4.50, using available cash. In accordance with the Tender Offer, on April 21, 2023, the Company repurchased 3,000,000 shares at a price of $4.50 per share, representing 10.6% of its then outstanding shares. The per share purchase price of properly tendered shares represents 60.9% of net asset value per share as of December 31, 2022.Share Repurchase ProgramOn August 7, 2023, the Company’s Board of Directors authorized an extension of, and a $5.0 million increase in the amount of shares that may be repurchased under, the Company's discretionary Share Repurchase Program until the earlier of (i) October 31, 2024 or (ii) the repurchase of $60.0 million in aggregate amount of the Company's common stock. The dollar value of shares that may yet be purchased by the Company under the Share Repurchase Program is approximately $21.4 million.Since inception of the Share Repurchase Program in August 2017, SuRo Capital has repurchased over 5.8 million shares of its common stock for an aggregate purchase price of approximately $38.6 million.Under the Share Repurchase Program, the Company may repurchase its outstanding common stock in the open market provided it complies with the prohibitions under its insider trading policies and procedures and the applicable provisions of the Investment Company Act of 1940, as amended, and the Securities Exchange Act of 1934, as amended.Conference Call and WebcastManagement will hold a conference call and webcast for investors at 2:00 p.m. PT (5:00 p.m. ET). The conference call access number for U.S. participants is 866-580-3963, and the conference call access number for participants outside the U.S. is +1 786-697-3501. The conference ID number for both access numbers is 7746181. Additionally, interested parties can listen to a live webcast of the call from the "Investor Relations" section of SuRo Capital’s website at www.surocap.com. An archived replay of the webcast will also be available for 12 months following the live presentation.A replay of the conference call may be accessed until 5:00 p.m. PT (8:00 p.m. ET) on August 16, 2023 by dialing 866-583-1035 (U.S.) or +44 (0) 20 3451 9993 (International) and using conference ID number 7746181.Forward-Looking StatementsStatements included herein, including statements regarding SuRo Capital's beliefs, expectations, intentions, or strategies for the future, may constitute "forward-looking statements". SuRo Capital cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements. All forward-looking statements involve a number of risks and uncertainties, including the impact of any market volatility that may be detrimental to our business, our portfolio companies, our industry, and the global economy, that could cause actual results to differ materially from the plans, intentions, and expectations reflected in or suggested by the forward-looking statements. Risk factors, cautionary statements, and other conditions which could cause SuRo Capital's actual results to differ from management's current expectations are contained in SuRo Capital's filings with the Securities and Exchange Commission. SuRo Capital undertakes no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date of this press release.About SuRo Capital Corp.SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies. The fund seeks to create a portfolio of high-growth emerging private companies via a repeatable and disciplined investment approach, as well as to provide investors with access to such companies through its publicly traded common stock. SuRo Capital is headquartered in New York, NY and has offices in San Francisco, CA. Connect with the company on Twitter, LinkedIn, and at www.surocap.com.ContactSuRo Capital Corp.(212) [email protected] CAPITAL CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED) June 30, 2023 December 31, 2022ASSETS   Investments at fair value:   Non-controlled/non-affiliate investments (cost of $159,012,912 and $155,103,810, respectively)$120,620,316  $130,901,546 Non-controlled/affiliate investments (cost of $30,195,780 and $41,140,804, respectively) 11,546,197   12,591,162 Controlled investments (cost of $19,883,894 and $19,883,894, respectively) 28,116,633   13,695,870  Total Portfolio Investments 160,283,146   157,188,578 Investments in U.S. Treasury bills (cost of $75,478,668 and $84,999,598, respectively) 75,895,534   85,056,817 Total Investments (cost of $284,571,254 and $301,128,106, respectively) 236,178,680   242,245,395 Cash 24,542,729   40,117,598 Proceeds receivable 664,470   — Escrow proceeds receivable 375,965   628,332 Interest and dividends receivable 119,548   138,766 Deferred financing costs 590,430   555,761 Prepaid expenses and other assets(1) 485,171   727,006     Total Assets 262,956,993   284,412,858 LIABILITIES   Accounts payable and accrued expenses(1) 2,511,200   708,827 Dividends payable 188,357   296,170 6.00% Notes due December 30, 2026(2) 73,564,712   73,387,159     Total Liabilities 76,264,269   74,392,156     Net Assets$186,692,724  $210,020,702 NET ASSETS   Common stock, par value $0.01 per share (100,000,000 authorized; 25,398,640 and 28,429,499 issued and outstanding, respectively)$253,986  $284,295 Paid-in capital in excess of par 318,605,100   330,899,254 Accumulated net investment loss (72,859,710)  (64,832,605)Accumulated net realized gain/(loss) on investments, net of distributions (10,528,391)  2,552,465 Accumulated net unrealized appreciation/(depreciation) of investments (48,778,261)  (58,882,707)       Net Assets$186,692,724  $210,020,702 Net Asset Value Per Share$7.35  $7.39 __________________________________________________(1)   This balance includes a right of use asset and corresponding operating lease liability, respectively.(2)  As of June 30, 2023, the 6.00% Notes due December 30, 2026 (effective interest rate of 6.53%) had a face value $75,000,000. As of December 31, 2022, the 6.00% Notes due December 30, 2026 (effective interest rate of 6.53%) had a face value $75,000,00SURO CAPITAL CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  Three Months Ended June 30,  Six Months Ended June 30,   2023   2022    2023   2022 INVESTMENT INCOME         Non-controlled/non-affiliate investments:         Interest income $40,394  $149,282   $89,869  $311,737 Dividend income  63,145   191,349    126,290   321,994 Controlled investments:         Interest income  318,425   550,000    554,425   840,000 Interest income from U.S. Treasury bills  950,254   —    1,900,716   —  Total Investment Income  1,372,218   890,631    2,671,300   1,473,731 OPERATING EXPENSES         Compensation expense  2,117,872   1,759,261    4,254,626   3,619,963 Directors’ fees  161,661   191,829    322,226   352,394 Professional fees  916,579   1,078,459    1,907,413   2,351,172 Interest expense  1,214,267   1,226,767    2,427,553   2,427,553 Income tax expense  90,826   5,691    620,606   7,741 Other expenses  676,353   439,512    1,165,981   750,501 Total Operating Expenses  5,177,558   4,701,519    10,698,405   9,509,324     Net Investment Loss  (3,805,340)  (3,810,888)   (8,027,105)  (8,035,593)Realized Gain/(Loss) on Investments:         Non-controlled/non-affiliated investments  (2,325,175)  (1,895,846)   (2,135,832)  1,200,429 Non-controlled/affiliate investments  (10,945,024)  (70,379)   (10,945,024)  (70,379)Net Realized Gain/(Loss) on Investments  (13,270,199)  (1,966,225)   (13,080,856)  1,130,050 Change in Unrealized Appreciation/(Depreciation) of Investments:         Non-controlled/non-affiliated investments  (12,152,800)  (88,620,056)   (14,216,377)  (66,876,069)Non-controlled/affiliate investments  11,220,424   (72,519)   9,900,060   (361,621)Controlled investments  2,387,891   130,000    14,420,763   260,000     Net Change in Unrealized Appreciation/(Depreciation) of Investments  1,455,515   (88,562,575)   10,104,446   (66,977,690)    Net Change in Net Assets Resulting from Operations $(15,620,024) $(94,339,688)  $(11,003,515) $(73,883,233)    Net Change in Net Assets Resulting from Operations per Common Share:         Basic $(0.60) $(3.08)  $(0.41) $(2.39)Diluted(1) $(0.60) $(3.08)  $(0.41) $(2.39)Weighted-Average Common Shares Outstanding ​       Basic  25,952,447   30,633,878    27,158,786   30,929,321 Diluted(1)  25,952,447   30,633,878    27,158,786   30,929,321 ________________________________________________(1) For the three months ended June 30, 2023 and June 30, 2022, there were no potentially dilutive securities outstanding.SURO CAPITAL CORP. AND SUBSIDIARIESFINANCIAL HIGHLIGHTS (UNAUDITED)​​ Three Months Ended June 30, Six Months Ended June 30,   2023   2022   2023   2022 Per Basic Share Data        Net asset value at beginning of the year $7.59  $12.22  $7.39  $11.72  Net investment loss(1)  (0.15)  (0.12)  (0.30)  (0.26)Net realized gain/(loss) on investments(1)  (0.51)  (0.06)  (0.48)  0.04 Net change in unrealized appreciation/(depreciation) of investments(1)  0.06   (2.89)  0.37   (2.17) Dividends declared  —   —   —   (0.11)Issuance of common stock from public offering(1)  —   —   —   0.01  Repurchase of common stock(1)  0.33   0.07   0.33   (0.01) Stock-based compensation(1)  0.03   0.02   0.04   0.02 Net asset value at end of period $7.35  $9.24  $7.35  $9.24 Per share market value at end of period $3.20  $6.40  $3.20  $6.40 Total return based on market value(2)  (11.60)%  (25.84)%  (15.79)%  (49.14)%Total return based on net asset value(2)  (3.16)%  (24.39)%  (0.54)%  (20.22)%Shares outstanding at end of period  25,398,640   30,325,187   25,398,640   30,325,187 Ratios/Supplemental Data: ​ ​ ​ ​Net assets at end of period $186,692,724  $280,172,472  $186,692,724  $280,172,472 Average net assets $205,097,855  $378,428,728  $207,210,870  $371,249,600 Ratio of net operating expenses to average net assets(3)  10.13%  4.24%  10.41%  4.80%Ratio of net investment loss to average net assets(3)  (7.44)%  (3.48)%  (7.81)%  (4.18)%Portfolio Turnover Ratio  2.09%  1.57%  3.89%  2.05%__________________(1)   Based on weighted-average number of shares outstanding for the relevant period.(2)   Total return based on market value is based upon the change in market price per share between the opening and ending market values per share in the period, adjusted for dividends and equity issuances. Total return based on net asset value is based upon the change in net asset value per share between the opening and ending net asset values per share in the period, adjusted for dividends and equity issuances.(3)   Financial highlights for periods of less than one year are annualized and the ratios of operating expenses to average net assets and net investment loss to average net assets are adjusted accordingly. Because the ratios are calculated for the Company’s common stock taken as a whole, an individual investor’s ratios may vary from these ratios.

GlobeNewswire

SuRo Capital Corp. Reports Second Quarter 2023 Financial Results

https://finance.yahoo.com/news/suro-capital-corp-reports-second-200500386.html

e0ff8f36-7c6a-3701-b366-fccd6cff68cf

SSY

ATLANTA, July 24, 2023--(BUSINESS WIRE)--On July 20, 2023, the board of directors (the "Board") of SunLink Health Systems, Inc. (NYSE American: SSY) ("SSY," the "Company," "we," "us" or "our") filled a vacant seat on the Board of Directors by electing Mark J. Stockslager as a director of the Company.Mr. Stockslager, 63, has been SunLink’s Chief Financial Officer since July 1, 2007. He was interim Chief Financial Officer from November 6, 2006 until June 30, 2007. He has been the Principal Accounting Officer since March 11, 1998 and was Corporate Controller from November 6, 1996 to June 4, 2007. He has been associated continuously with our accounting and finance operations since June 1988 and has held various positions, including Manager of U.S. Accounting, from June 1993 until November 1996. From June 1982 through May 1988, Mr. Stockslager was employed by Price Waterhouse & Co.SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast. Each of the Company’s businesses is operated locally with a strategy of linking patients’ needs with healthcare professionals. For additional information on SunLink Health Systems, Inc., please visit the Company’s website.This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding the company’s business strategy. These forward-looking statements are subject to certain risks, uncertainties, and other factors, which could cause actual results, performance, and achievements to differ materially from those anticipated. Certain of those risks, uncertainties and other factors are disclosed in more detail in the company’s Annual Report on Form 10-K for the year ended June 30, 2022 and other filings with the Securities and Exchange Commission which can be located at www.sec.gov.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230724157947/en/ContactsRobert M. Thornton, Jr.Chief Executive Officer(770) 933-7004

Business Wire

SunLink Health Systems, Inc. Announces the Election of Mark J. Stockslager as Director to Board of Directors

https://finance.yahoo.com/news/sunlink-health-systems-inc-announces-204400201.html

e91f4210-a5c9-3838-876f-f99b87df51de

SSY

ATLANTA, August 08, 2023--(BUSINESS WIRE)--SunLink Health Systems, Inc. (NYSE American: SSY) today announced that its Board of Directors (a) declared a dividend of one one-thousandth (1/1,000th) of a share (each a "Series C Fractional Interest") of the Company’s newly-designated Series C Redeemable Preferred Shares, no par value per share (the "Series C Preferred Shares"), for each outstanding common share of the Company (the "Common Shares"), payable on August 16, 2023 to shareholders of record as of 5:00 p.m. Eastern Time on August 15, 2023 and (b) its intent to call a special meeting of shareholders to consider and approve a proposal to reincorporate the Company as a Georgia corporation (the "Reincorporation Proposal").The outstanding Series C Fractional Interests that are present in person or by proxy will vote together with the outstanding Common Shares, as a single class, exclusively with respect to (a) the Reincorporation Proposal, which will result in the adoption of new articles of incorporation and bylaws as a Georgia corporation pursuant to such proposal, and (b) any proposal to adjourn or recess any meeting of shareholders called for the purpose of voting on the Reincorporation Proposal (an "Adjournment Proposal"), and will not be entitled to vote on any other matter, except to the extent required under the Ohio Revised Code ("ORC"). Subject to certain limitations, each outstanding Series C Preferred Share will have 1,000,000 votes per share (or 1,000 votes per Series C Fractional Interest).Series C Fractional Interests will not vote independently from the Common Shares and a shareholder’s Series C Fractional Interests will automatically be deemed voted in the same manner as that which the shareholder votes his or her Common Shares. Thus, each Series C Fractional Interest will have 1,000 votes and is voted together with the Common Share for which it was dividended, and such votes will be the same (For or Against or Abstain) as the related Common Share.Story continuesAll Series C Fractional Interests that are not present in person or by proxy at any meeting of shareholders held to vote on the above-described proposals as of immediately prior to the opening of the polls on the Reincorporation Proposal at such meeting will automatically be redeemed by the Company for no consideration. All outstanding Series C Fractional Interests that have not been so redeemed will be redeemed for no consideration if such redemption is ordered by the Company’s Board of Directors or automatically upon the approval by the Company’s shareholders of the Reincorporation Proposal.The Series C Fractional Interests will effectively attach to the Common Shares for which they were dividended, and will be non-detachable, uncertificated and represented in book-entry form. No Series C Fractional Interests may be transferred by the holder thereof except solely with a transfer by such holder of the Common Shares to which they pertain as of the record date. In that case, Series C Fractional Interests equal to the number of Common Shares to be transferred by such holder will be automatically transferred to the transferee of such Common Shares.Further details regarding the Series C Preferred Shares and the Series C Fractional Interests will be contained in a report on Form 8-K to be filed by the Company with the Securities and Exchange Commission (the "SEC") and further details regarding the Reincorporation Proposal and the special meeting will be contained in a proxy statement for the special meeting to be filed by the Company with the SEC.Important Information for Investors and ShareholdersThis Press Release is not intended to and shall not constitute a solicitation of any vote or approval in any jurisdiction. No solicitation of any vote or approval shall be made, except by means of a proxy statement meeting the requirements of Section 14A of, and Schedule 14A under, the Exchange Act. SunLink plans to file other documents with the SEC regarding the Reincorporation Proposal. INVESTORS AND SECURITY HOLDERS OF SUNLINK ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS.Investors and shareholders may obtain free copies of the proxy statement and other documents containing important information about SunLink as such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by SunLink are and will be available free of charge on SunLink’s website at sunlink.com under the tab "Investors" then under the tab "SEC Filings" or by contacting SunLink at (770) 933-7000.SunLink Health Systems, Inc. is the parent company of subsidiaries that own and operate healthcare properties and businesses in the Southeast. Each of the Company’s businesses is operated locally with a strategy of linking patients’ needs with healthcare professionals. For additional information on SunLink Health Systems, Inc., please visit the Company’s website.This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding the company’s business strategy. These forward-looking statements are subject to certain risks, uncertainties, and other factors, which could cause actual results, performance, and achievements to differ materially from those anticipated. Certain of those risks, uncertainties and other factors are disclosed in more detail in the company’s Annual Report on Form 10-K for the year ended June 30, 2022 and other filings with the Securities and Exchange Commission which can be located at www.sec.gov.View source version on businesswire.com: https://www.businesswire.com/news/home/20230808612163/en/ContactsRobert M. Thornton, Jr.Chief Executive Officer(770) 933-7004

Business Wire

SunLink Health Systems, Inc. Announces Dividend of Fractional Interests in Series C Redeemable Preferred Shares to Holders of Its Common Shares

https://finance.yahoo.com/news/sunlink-health-systems-inc-announces-200800059.html

19bc9931-7d6d-3ada-bd7e-b1182672f09d

STAG

Meanwhile, corporate earnings haven't exactly been stellar. While the next bull market is not officially here, there is still a general attitude that it's right around the corner. Here's a closer look at three stocks smart investors are watching closely right now, as they offer superior risk-adjusted upside potential if we're at the onset of a new bull market.Continue reading

Motley Fool

Is This a New Bull Market? 3 Stocks the Smartest Investors Are Watching.

https://finance.yahoo.com/m/5cf43b5e-2d1b-3edf-abdc-1e7190088400/is-this-a-new-bull-market-3.html

5cf43b5e-2d1b-3edf-abdc-1e7190088400

STAG

Stag Industrial (STAG) closed at $36.88 in the latest trading session, marking a +0.96% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.18%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 0.02%.Coming into today, shares of the industrial real estate investment trust had gained 2.58% in the past month. In that same time, the Finance sector lost 2.68%, while the S&P 500 lost 1.63%.Investors will be hoping for strength from Stag Industrial as it approaches its next earnings release. In that report, analysts expect Stag Industrial to post earnings of $0.57 per share. This would mark no growth from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $173.58 million, up 4.37% from the prior-year quarter.STAG's full-year Zacks Consensus Estimates are calling for earnings of $2.25 per share and revenue of $693.85 million. These results would represent year-over-year changes of +1.81% and +5.55%, respectively.Investors should also note any recent changes to analyst estimates for Stag Industrial. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Stag Industrial is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, Stag Industrial is holding a Forward P/E ratio of 16.33. This represents a premium compared to its industry's average Forward P/E of 11.27.Story continuesInvestors should also note that STAG has a PEG ratio of 5.2 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.3 at yesterday's closing price.The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 207, putting it in the bottom 18% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportStag Industrial, Inc. (STAG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Stag Industrial (STAG) Outpaces Stock Market Gains: What You Should Know

https://finance.yahoo.com/news/stag-industrial-stag-outpaces-stock-221505572.html

fb17e364-970e-3786-bbd0-93776d199abc

STCN

It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes to zero. But in contrast you can make much more than 100% if the company does well. To wit, the Steel Connect, Inc. (NASDAQ:STCN) share price has flown 101% in the last three years. How nice for those who held the stock! Better yet, the share price has risen 19% in the last week.On the back of a solid 7-day performance, let's check what role the company's fundamentals have played in driving long term shareholder returns. View our latest analysis for Steel Connect While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.Steel Connect became profitable within the last three years. Given the importance of this milestone, it's not overly surprising that the share price has increased strongly.You can see below how EPS has changed over time (discover the exact values by clicking on the image).earnings-per-share-growthWe're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. It might be well worthwhile taking a look at our free report on Steel Connect's earnings, revenue and cash flow.A Different PerspectiveWhile the broader market gained around 15% in the last year, Steel Connect shareholders lost 21%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 8% over the last half decade. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 2 warning signs for Steel Connect you should be aware of.Story continuesOf 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.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.

The 19% return this week takes Steel Connect's (NASDAQ:STCN) shareholders three-year gains to 101%

https://finance.yahoo.com/news/19-return-week-takes-steel-121040047.html

2063eb9d-746f-314d-9774-ba3e69a5ebca

STCN

Despite a daily loss of 10.44% and an Earnings Per Share (EPS) of 0.84, Steel Connect Inc (NASDAQ:STCN) has seen a 3-month gain of 30.95%. However, the question remains: Is the stock significantly overvalued? This article provides a comprehensive valuation analysis to answer this question. Read on to discover more about Steel Connect's financial health and intrinsic value.Company OverviewWarning! GuruFocus has detected 3 Warning Signs with STCN. Click here to check it out. STCN 30-Year Financial DataThe intrinsic value of STCNSteel Connect Inc is a diversified holding company with operations in Direct Marketing and Supply Chain. The company generates most of its revenue from the Direct Marketing segment, primarily in the United States. It serves clients in various industries, including consumer electronics, communications, computing, software, storage, and retail. The company's stock price currently stands at $9.89, while the estimated fair value, also known as the GF Value, is $6.8.Is Steel Connect Inc (STCN) Significantly Overvalued?Understanding the GF ValueThe GF Value is a measure of a stock's intrinsic value, calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates. The GF Value Line, visible on our summary page, represents the fair value at which the stock should ideally trade. If the stock price is significantly above the GF Value Line, it is considered overvalued, and its future return is likely to be poor. Conversely, if the stock price is significantly below the GF Value Line, its future return will likely be higher.Steel Connect (NASDAQ:STCN) stock is estimated to be significantly overvalued based on the GF Value calculation. With a market cap of $61.80 million at its current price of $9.89 per share, the future return of Steel Connect's stock is likely to be much lower than its future business growth due to its overvaluation.Is Steel Connect Inc (STCN) Significantly Overvalued?Assessing Financial StrengthInvesting in companies with poor financial strength carries a higher risk of permanent capital loss. Therefore, it is crucial to review a company's financial strength before deciding to buy its stock. A good starting point is examining the cash-to-debt ratio and interest coverage. Steel Connect has a cash-to-debt ratio of 1.54, better than 54.43% of 983 companies in the Media - Diversified industry. However, GuruFocus ranks Steel Connect's overall financial strength at 4 out of 10, indicating that its financial strength is poor.Story continuesIs Steel Connect Inc (STCN) Significantly Overvalued?Profitability and GrowthCompanies that have been consistently profitable over the long term offer less risk for investors. Steel Connect has been profitable 1 over the past 10 years. Over the past twelve months, the company had a revenue of $201.30 million and Earnings Per Share (EPS) of $0.84. Its operating margin is 3.62%, which ranks better than 50.83% of 1021 companies in the Media - Diversified industry. Overall, the profitability of Steel Connect is ranked 3 out of 10, indicating poor profitability.One crucial factor in a company's valuation is its growth . Companies that grow faster create more value for shareholders, especially if that growth is profitable. However, Steel Connect's average annual revenue growth is -36.8%, ranking worse than 92.5% of 960 companies in the Media - Diversified industry. The 3-year average EBITDA growth is -38.2%, ranking worse than 90.78% of 770 companies in the Media - Diversified industry.ROIC vs WACCReturn on invested capital (ROIC) and weighted average cost of capital (WACC) are vital indicators of a company's profitability. ROIC measures how well a company generates cash flow relative to the capital it has invested in its business. The 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, Steel Connect's ROIC is 12.31, and its WACC is 3.24.Is Steel Connect Inc (STCN) Significantly Overvalued?ConclusionIn conclusion, Steel Connect (NASDAQ:STCN) stock is estimated to be significantly overvalued. The company's financial condition and profitability are poor, and its growth ranks worse than 90.78% of 770 companies in the Media - Diversified industry. To learn more about Steel Connect stock, you can check out its 30-Year Financials here.To find high-quality companies that may deliver above-average returns, check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Is Steel Connect Inc (STCN) Significantly Overvalued?

https://finance.yahoo.com/news/steel-connect-inc-stcn-significantly-154331205.html

3dca5c55-09cf-35ec-b6ec-fb5482789bda

STE

For Immediate ReleaseChicago, IL – August 31, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple Inc. AAPL, Broadcom Inc. AVGO, Caterpillar Inc. CAT, Suncor Energy Inc. SU and STERIS plc STE.Here are highlights from Wednesday’s Analyst Blog:Top Research Reports for Apple, Broadcom and CaterpillarThe Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 12 major stocks, including Apple Inc., Broadcom Inc. and Caterpillar Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today's research reports here >>>Apple's shares have outperformed the Zacks Computer - Mini computers industry over the year-to-date period (+42.3% vs. +42.0%). The company is benefiting from increasing customer engagement in the services segment. The expanding content portfolio of Apple TV+ and Apple Arcade, as well as the launch of its high-yield savings account with Apple Card, helped in driving subscriber growth.Apple's results also benefited from strong growth in emerging markets and growing adoption among enterprises. Apple expects iPhone and Services' year-over-year growth to accelerate in the fiscal fourth-quarter as compared with the June quarter.However, weak hardware demand for iPhone, iPad and Mac have declined sales. Revenues for both Mac and iPad are expected to decline by double digits on a year-over-year basis due to difficult comparison. Unfavorable forex is expected to hurt the top-line.(You can read the full research report on Apple here >>>)Shares of Broadcom have outperformed the Zacks Electronics - Semiconductors industry over the year-to-date period (+61.2% vs. +47.1%). The company is benefiting from strong deployment of generative AI by hyperscalers, service providers and enterprises. It expects generative AI to contribute more than 25% of semiconductor revenues in fiscal 2024 compared with an estimated 15% in fiscal 2023 and roughly 10% in fiscal 2022.Strong demand for Tomahawk 5, Jericho, 10-gigabit PON and DOCSIS 3.1 with embedded Wi-Fi 6 and 6E aids Broadcom. Expanding portfolio with the launch of second-gen Wi-Fi 7 wireless connectivity chip is a catalyst. Broadcom expects networking revenues to grow nearly 20% year over year in the fiscal third quarter.Server storage connectivity revenues are expected to be up low single digits year over year. Broadband revenues growth is expected in moderate to low-single-digit percent year over year.(You can read the full research report on Broadcom here >>>)Caterpillar's shares have outperformed the Zacks Manufacturing - Construction and Mining industry over the past six months (+13.8% vs. +12.6%). The company's revenues and earnings has grown year over year for nine straight quarters thanks to its cost-saving actions, strong end-market demand and pricing actions that offset the impact of the supply chain snarls and cost pressures.The Construction Industries segment is expected to benefit from the rising construction activities in the United States and other parts of the world. Backed by demand for commodities fueled by the energy-transition trend, a thriving mining sector will aid the Resource Industries segment.Its dividend yield and payout ratio are higher than its peers. A strong liquidity position, investments in expanding services and digital initiatives will help Caterpillar deliver outsized returns.(You can read the full research report on Caterpillar here >>>)Other noteworthy reports we are featuring today include Suncor Energy Inc. and STERIS plc.Story continuesWhy 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 >>Media ContactZacks Investment Research800-767-3771 ext. [email protected]                        https://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 reportApple Inc. (AAPL) : Free Stock Analysis ReportCaterpillar Inc. (CAT) : Free Stock Analysis ReportSuncor Energy Inc. (SU) : Free Stock Analysis ReportBroadcom Inc. (AVGO) : Free Stock Analysis ReportSTERIS plc (STE) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

The Zacks Analyst Blog Highlights Apple, Broadcom, Caterpillar, Suncor Energy and STERIS

https://finance.yahoo.com/news/zacks-analyst-blog-highlights-apple-131600397.html

9a0c9b26-86f8-379a-a8a8-bcb51477f301

STE

It has been about a month since the last earnings report for Steris (STE). Shares have added about 1.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Steris 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.STERIS Q1 Earnings Top Estimates, Gross Margin DipsSTERIS plc reported first-quarter fiscal 2024 adjusted earnings per share of $2.00, up 5.3% from the year-ago quarter’s figure. The metric also exceeded the Zacks Consensus Estimate by 7.5%.The adjustment excludes the impacts of certain non-recurring charges like the amortization of acquired intangible assets and acquisition and integration-related charges among others. The company’s GAAP earnings per share was $1.25, up 13.6% from the year-ago quarter’s earnings.Revenues in DetailRevenues of $1.28 billion increased 11% year over year in the first quarter. The metric beat the Zacks Consensus Estimate by 7.8%. Organic revenues at constant exchange rate or CER too rose 11% year over year in the fiscal first quarter.Quarter in DetailThe company operates through four segments — Healthcare, Applied Sterilization Technologies (AST), Life Sciences and Dental.Revenues at Healthcare rose 17% year over year to $818.9 million (up 18% on a CER organic basis). This performance reflected a 33% improvement in capital equipment revenues, a 12% increase in service revenues and an 11% rise in consumable revenues. Going by our model, the the projection for the Healthcare segment’s second-quarter organic growth was 5.8%.Revenues at AST improved 6% to $233.1 million (up 5% on a CER organic basis). Revenue growth was limited by customer inventory management and the continued reduction in demand from bioprocessing customers. Our model estimated organic growth of 1.6% for this business in the second quarter.Story continuesRevenues in the Life Sciences segment dropped 1% to $131.4 million (down 1% year over year on a CER organic basis). A 4% increase in consumable revenues and a 20% increase in service revenues were offset by a 23% decline in capital equipment revenues in the reported quarter.The Dental segment reported revenues of $101.2 million, down 3.4% year over year (down 4% on a CER organic basis).MarginsGross profit in the reported quarter was $573.5 million, up 10.7% from the prior-year quarter’s gross profit. Gross margin however contracted 13 basis points (bps) year over year to 44.6% in the reported quarter.STERIS witnessed a 7.3% year-over-year rise in selling, general and administrative expenses to $359.1 million. Research and development expenses rose 3% to $25.5 million. Adjusted operating expenses of $384.6 million rose 7% year over year. The adjusted operating margin expanded 101 bps to 14.7%.Financial DetailsSTERIS exited first-quarter fiscal 2024 with cash and cash equivalents of $208.6 million compared with $208.4 million at the end of the fiscal 2023 fourth quarter. Cumulative net cash flow from operating activities at the end of fiscal first quarter was $281.1 million compared with $231.7 million a year ago.Further, the company has a five-year annualized dividend growth rate of 7.98%.GuidanceConsidering the just-completed acquisition of the surgical instrumentation, laparoscopic instrumentation and sterilization container assets from Becton, Dickinson and Company or BD (BDX), STERIS updated its fiscal 2024 guidance.STERIS now expects fiscal 2024 revenues to increase 9-10% from fiscal 2023 (earlier expectation was in the range of 7-8% growth). Organic revenue expectation at CER remains unchanged at 6-7%. The Zacks Consensus Estimate for fiscal 2024 revenues is pegged at $5.33 billion, implying 7.5% growth from fiscal 2023.Adjusted earnings per share for fiscal 2024 are now expected in the range of $8.60 to $8.80 (earlier range was $8.55 to $8.75). The Zacks Consensus Estimate for the metric is pegged at $8.79.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.VGM ScoresCurrently, Steris has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of 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, Steris has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerSteris belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Thermo Fisher Scientific (TMO), has gained 1% over the past month. More than a month has passed since the company reported results for the quarter ended June 2023.Thermo Fisher reported revenues of $10.69 billion in the last reported quarter, representing a year-over-year change of -2.6%. EPS of $5.15 for the same period compares with $5.51 a year ago.For the current quarter, Thermo Fisher is expected to post earnings of $5.39 per share, indicating a change of +6.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.3% over the last 30 days.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #5 (Strong Sell) for Thermo Fisher. Also, the stock has a VGM Score of D.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 reportSTERIS plc (STE) : Free Stock Analysis ReportThermo Fisher Scientific Inc. (TMO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Steris (STE) Up 1.8% Since Last Earnings Report: Can It Continue?

https://finance.yahoo.com/news/steris-ste-1-8-since-153125823.html

a50290d5-c3cc-36ed-838c-4b83ac5d97b2

STEM

The 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: TD Cowen upgraded Constellation Brands (STZ) to Outperform from Market Perform with a price target of $300, up from $240. While the company had to take on debt to buyout the Sands family, that move has "meaningfully de-risked the capital allocation story," the firm argues.Morgan Stanley upgraded First Solar (FSLR) to Equal Weight from Underweight with a price target of $206, up from $180. The firm continues to see long-term risk to First Solar's margin profile, but acknowledges that the company's "substantial" 77.8 GW backlog de-risks its earnings profile through 2026.Argus upgraded Chewy (CHWY) to Buy from Hold with a $30 price target. The stock has underperformed over the past quarter, falling 29% vs. a gain of 3% for the Russell 2000 index, but the company's recent Q2 results topped consensus estimates and its internal metrics suggest better results in the coming quarters, the firm notes.Needham upgraded ResMed (RMD) to Buy from Hold with an $180 price target, noting that shares are down 31% since the start of August. Concerns about the potential for GLP-1 obesity drugs to reduce demand for ResMed's sleep therapy devices and added pressure coming from Philips' (PHG) possible re-entry into the flow generator market are now priced in given the pullback, the firm says.KeyBanc upgraded Celanese (CE) to Overweight from Sector Weight with a $149 price target. The firm expects Celanese's earnings per share to reach a "trough level" of $8.46 in 2023, with "meaningful recovery" to the normalized earnings per share potential of $16-$19 ahead within the next few years.Cash App on a smartphone. (Photo Illustration by Nikolas Kokovlis/NurPhoto via Getty Images)Top 5 Downgrades:UBS downgraded Block (SQ) to Neutral from Buy with a price target of $65, down from $102. The company's gross profit growth will likely slow given softening of consumer discretionary spending, a slowdown in Cash App monthly active user growth and moderation of Cash App monetization in the second half of 2023 and 2024, the firm says.Goldman Sachs downgraded Olin (OLN) to Neutral from Buy with a price target of $57, down from $67. The firm has concerns around the company's pricing and margin strategy following industry comments about more aggressive pricing to gain volume coupled with weaker macro conditions in chloralkali.Citi downgraded Kinetik Holdings (KNTK) to Neutral from Buy with an unchanged price target of $34. The stock's risk/reward trade-off is now more balanced following the outperformance versus the broader midstream sector since May earnings, the firm says.Morgan Stanley downgraded Stem (STEM) to Equal Weight from Overweight with a price target of $8, down from $12. Stem remains Morgan Stanley's preferred energy storage name given its software-heavy focus, but based on the company's year-to-date earnings, the firm sees risk to its ability to achieve its 65%-85% service and software revenue growth and EBITDA-positive target in the second half of 2023.Citi downgraded Plains All American (PAA) to Neutral from Buy with a price target of $15.50, up from $14. The stock still offers a "compelling" free cash flow yield, but a lack of obvious catalysts could limit further upside from here, the firm says. Citi also downgraded Plains GP Holdings (PAGP) to Neutral from Buy with a price target of $15.50, up from $14.Story continuesA lab at the Thermo Fisher plant producing COVID-19 vaccines for AstraZeneca in Seneffe, Belgium. REUTERS/Yves HermanTop 5 Initiations: William Blair initiated coverage of Trade Desk (TTD) with an Outperform rating and no price target. Eventually, most or all of the $840B global advertising market will be digital, up from roughly 69% today, creating a "substantial" opportunity for Trade Desk, the firm argues.Morgan Stanley initiated coverage of Penumbra (PEN) with an Equal Weight rating and $265 price target. The firm thinks near-term Street estimates "look sensible" and cites valuation for its Equal Weight rating.Citi resumed coverage of Thermo Fisher (TMO) with a Buy rating and $625 price target following a period of restriction. The firm believes Thermo has one of the highest quality management teams in the space, with the ability to navigate the current uncertainty.Baird initiated coverage of Lucid Group (LCID) with a Neutral rating and $7 price target. The firm argues that high starting prices and a niche market segment create a challenging near-term setup for the shares.Raymond James initiated coverage of FICO (FICO) with an Outperform rating and $1,007 price target. Although the shares have performed well over the past year, further upside remains as investors fully appreciate the pricing power, resilience, and competitive position of the company's FICO Score business, the firm tells investors in a research note.

The Fly

Constellation Brands upgraded, Block downgraded: Wall Street's top analyst calls

https://finance.yahoo.com/news/constellation-brands-upgraded-block-downgraded-133620534.html

e0264111-cb04-3d5c-bb63-77d3ddeee049

STEM

New application will empower user-configured energy trading strategies through AI-driven automation and customization toolsSAN FRANCISCO, September 07, 2023--(BUSINESS WIRE)--Stem (NYSE: STEM), a global leader in AI-driven clean energy solutions and services, today announced its new Athena® PowerBidder™ Pro application to help energy professionals actively manage clean energy assets with confidence, control, and scalability. Asset owners, traders, and tolling offtakers can leverage PowerBidder Pro’s AI-driven automated bid optimization workflows as well as its comprehensive suite of advanced real-time monitoring and control features to break open the ‘black box’ of merchant battery storage asset operations and tailor strategies to their organization’s risk tolerance."Stem’s energy experts have long been harnessing the power of real-time data and deep insights delivered through our Athena platform to help customers successfully bid into the fast-paced, dynamic wholesale energy markets," said Cedric Brehaut, Vice President of Asset Management Solutions at Stem. "Now with PowerBidder Pro, customers with their own trading capabilities will be able to use these same proven bidding tools confidently to manage energy assets themselves with ease and flexibility for an added advantage in these highly competitive markets."PowerBidder Pro takes an innovative approach to bid optimization by combining the power of AI and a deep understanding of the intricacies of energy markets with a full-featured user interface to manage economic performance. Access to real-time performance metrics and leading-edge analytics allows energy traders to quickly react to and even anticipate market shifts for a decisive advantage. With the application’s intuitive interface, users can easily fine-tune strategies to seamlessly adjust parameters, test scenarios, and explore alternative trading avenues, tapping the power of AI to optimize risk-adjusted returns. PowerBidder Pro’s configurability enables asset bidding strategies that are better aligned with each customer’s unique objectives.Story continuesAdditionally, PowerBidder Pro’s flexible approach to managing standalone, co-located, and hybrid energy storage assets enables:Transparent Bidding Strategy Control: Direct and dynamic control of bidding strategies without the limitations of rigid and inflexible systems.Streamlined Workflows: Centralized workflows and data help streamline management processes for maximum efficiency.Real-Time Performance Updates: Systematic and regular updates remove the time-consuming guesswork of manually derived asset performance data and analytics.In addition to PowerBidder Pro, Stem will continue to offer its world-class services to customers who need direct support in managing their assets. Leveraging decades of wholesale market experience, Stem’s energy experts will continue to provide operating services using PowerBidder Pro on behalf of our customers. With experience across 200,000 sites in over 50 countries, Athena and PowerBidder Pro bring together a market-leading solution.Learn more about PowerBidder Pro at stem.com/powerbidder-pro.Forward-Looking StatementsThis press release, as well as other statements we make, contains "forward-looking statements" within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as "expect," "may," "can," "believe," "predict," "plan," "potential," "projected," "projections," "forecast," "estimate," "intend," "anticipate," "ambition," "goal," "target," "think," "should," "could," "would," "will," "hope," "see," "likely," and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements the extent to which Athena® PowerBidder™ Pro application can help actively manage clean energy assets the integration and optimization of energy resources; and our business strategies and those of our customers. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including but not limited to our inability to secure sufficient and timely inventory from our suppliers, and provide us with contracted quantities of equipment; our inability to meet contracted customer demand; supply chain interruptions and manufacturing or delivery delays; disruptions in sales, production, service or other business activities; general economic, geopolitical and business conditions in key regions of the world, including inflationary pressures, general economic slowdown or a recession, increasing interest rates, changes in monetary policy, instability in financial institutions, and the prospect of a shutdown of the U.S. federal government; the direct and indirect effects of widespread health emergencies on our workforce, operations, financial results and cash flows; the ongoing conflict in Ukraine; the results of operations and financial condition of our customers and suppliers; pricing pressures; weather and seasonal factors; our inability to continue to grow and manage our growth effectively; our inability to attract and retain qualified employees and key personnel; our inability to comply with, and the effect on our business of, evolving legal standards and regulations, including concerning data protection and consumer privacy and evolving labor standards; risks relating to the development and performance of our energy storage systems and software-enabled services; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; and other risks and uncertainties discussed in this release and in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Forward-looking and other statements in this release regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Statements in this press release are made as of the date of this release, and Stem disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise, except as required by law.About StemStem (NYSE: STEM) provides clean energy solutions and services that maximize the economic, environmental, and resiliency value of energy assets and portfolios. Stem’s leading AI-driven enterprise software platform, Athena® enables organizations to deploy and unlock value from clean energy assets at scale. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem also offers integrated partner solutions that can improve returns across energy projects, including storage, solar, and EV fleet charging. For more information, visit www.stem.com.Source: Stem, Inc.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907085629/en/ContactsStem Investor Contacts Ted Durbin, StemMarc Silverberg, [email protected] Media Contact Suraya Akbarzad, [email protected]

Business Wire

Stem Introduces Athena® PowerBidder™ Pro for Bid Optimization in Wholesale Energy Markets

https://finance.yahoo.com/news/stem-introduces-athena-powerbidder-pro-123000270.html

2631c7e8-c6d5-36a5-84a3-3c639d59d36b

STLD

Steel Dynamics Inc (NASDAQ:STLD) experienced a daily loss of 1.81%, and a 3-month gain of 2.86%. Its Earnings Per Share (EPS) stand at 17.15. The question arises: Is the stock fairly valued? This article provides an in-depth analysis of Steel Dynamics' valuation, offering insights that could guide investment decisions. We encourage you to read on.Company OverviewWarning! GuruFocus has detected 1 Warning Sign with SMAR. Click here to check it out. STLD 30-Year Financial DataThe intrinsic value of STLDSteel Dynamics operates scrap-based steel minimills with an annual steel production capacity of approximately 16 million tons. The company's segments include steel operations, metals recycling operations, and steel fabrication operations. The steel operations segment generates the maximum revenue. The current stock price is $103.16, which is close to its GF Value of $100.31, indicating a fair valuation. This sets the stage for a deeper exploration of the company's value.Steel Dynamics (STLD): A Comprehensive Analysis of Its Fair ValuationUnderstanding GF ValueThe GF Value is a proprietary measure of a stock's intrinsic value, computed based on historical trading multiples, a GuruFocus adjustment factor based on past performance 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. 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.According to GuruFocus' valuation method, Steel Dynamics (NASDAQ:STLD) appears to be fairly valued. The current price of $103.16 per share and a market cap of $17.10 billion align closely with the GF Value Line. As Steel Dynamics is fairly valued, the long-term return of its stock is likely to be close to the rate of its business growth.Steel Dynamics (STLD): A Comprehensive Analysis of Its Fair ValuationFinancial StrengthInvesting in companies with poor financial strength presents a high risk of permanent capital loss. To avoid this, investors must review a company's financial strength before purchasing shares. Key indicators of financial strength include the cash-to-debt ratio and interest coverage. Steel Dynamics has a cash-to-debt ratio of 0.68, ranking better than 62.9% of 593 companies in the Steel industry. The overall financial strength of Steel Dynamics is 8 out of 10, indicating strong financial health.Story continuesSteel Dynamics (STLD): A Comprehensive Analysis of Its Fair ValuationProfitability and GrowthInvesting in profitable companies, especially those with consistent profitability over the long term, poses less risk. Steel Dynamics has been profitable 9 out of the past 10 years. Over the past twelve months, the company had a revenue of $20.50 billion and Earnings Per Share (EPS) of $17.15. Its operating margin is 18.96%, ranking better than 91.89% of 592 companies in the Steel industry. GuruFocus ranks Steel Dynamics' profitability at 9 out of 10, indicating strong profitability.Steel Dynamics's 3-year average revenue growth rate is better than 91.92% of 582 companies in the Steel industry. Its 3-year average EBITDA growth rate is 70.6%, ranking better than 89.31% of 505 companies in the Steel industry, indicating strong growth.ROIC vs WACCComparing a company's Return on Invested Capital (ROIC) to the Weighted Average Cost of Capital (WACC) can provide insights into its profitability. A higher ROIC than WACC implies the company is creating value for shareholders. For the past 12 months, Steel Dynamics's ROIC is 29.54, and its WACC is 11.83, indicating value creation.Steel Dynamics (STLD): A Comprehensive Analysis of Its Fair ValuationConclusionIn conclusion, the stock of Steel Dynamics (NASDAQ:STLD) appears to be fairly valued. The company's financial condition is strong and its profitability is robust. Its growth ranks better than 89.31% of 505 companies in the Steel industry. For more information about Steel Dynamics stock, check out its 30-Year Financials here.To find high-quality companies that may deliver above-average returns, check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Steel Dynamics (STLD): A Comprehensive Analysis of Its Fair Valuation

https://finance.yahoo.com/news/steel-dynamics-stld-comprehensive-analysis-153826707.html

64413151-5189-3aa5-a5ce-e57953304fb4

STLD

Steel Dynamics Inc (NASDAQ:STLD) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at $102.87, Steel Dynamics Inc has witnessed a decline of 2.08% over a period, marked against a three-month change of 3.16%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that Steel Dynamics Inc is well-positioned for substantial growth in the near future.Warning! GuruFocus has detected 6 Warning Sign with UHS. Click here to check it out. STLD 30-Year Financial DataThe intrinsic value of STLDSteel Dynamics Inc (STLD): A Deep Dive into Financial Metrics and Competitive StrengthsWhat Is the GF Score?The GF Score is a stock performance ranking system developed by GuruFocus using five aspects of valuation, which has been found to be closely correlated to the long-term performances of stocks by backtesting from 2006 to 2021. The stocks with a higher GF Score generally generate higher returns than those with a lower GF Score. Therefore, when picking stocks, investors should invest in companies with high GF Scores. The GF Score ranges from 0 to 100, with 100 as the highest rank.Steel Dynamics Inc has been assigned the following ranks:1. Financial strength rank: 8/102. Profitability rank: 9/103. Growth rank: 10/104. GF Value rank: 3/105. Momentum rank: 10/10Each one of these components is ranked and the ranks also have positive correlation with the long term performances of stocks. The GF score is calculated using the five key aspects of analysis. Through backtesting, we know that each of these key aspects has a different impact on the stock price performance. Thus, they are weighted differently when calculating the total score. With high ranks in financial strength, profitability, and growth, but a slightly lower GF Value rank, GuruFocus assigned Steel Dynamics Inc the GF Score of 92 out of 100, which signals the highest outperformance potential.Understanding Steel Dynamics Inc BusinessSteel Dynamics Inc operates scrap-based steel minimills with roughly 16 million tons of annual steel production capacity. The company's segments include steel operations, metals recycling operations, and steel fabrication operations. It generates maximum revenue from the steel operations segment. With a market cap of $17.04 billion and sales of $20.45 billion, Steel Dynamics Inc has an operating margin of 18.96%, indicating a healthy profitability.Story continuesSteel Dynamics Inc (STLD): A Deep Dive into Financial Metrics and Competitive StrengthsFinancial Strength BreakdownAccording to the Financial Strength rating, Steel Dynamics Inc's robust balance sheet exhibits resilience against financial volatility, reflecting prudent management of capital structure. The Interest Coverage ratio for Steel Dynamics Inc stands impressively at 41.94, underscoring its strong capability to cover its interest obligations. With an Altman Z-Score of 5.77, Steel Dynamics Inc exhibits a strong defense against financial distress. With a favorable Debt-to-Revenue ratio of 0.15, Steel Dynamics Inc's strategic handling of debt solidifies its financial health.Profitability Rank BreakdownThe Profitability Rank shows Steel Dynamics Inc's impressive standing among its peers in generating profit. Steel Dynamics Inc Operating Margin has increased (56.99%) over the past five years. Furthermore, Steel Dynamics Inc's Gross Margin has seen a consistent rise over the past five years, underscoring the company's growing proficiency in transforming revenue into profit.Growth Rank BreakdownRanked highly in Growth, Steel Dynamics Inc demonstrates a strong commitment to expanding its business. The company's 3-Year Revenue Growth Rate is 36.5%, which outperforms better than 91.92% of 582 companies in the Steel industry. Moreover, Steel Dynamics Inc has seen a robust increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past few years.Steel Dynamics Inc (STLD): A Deep Dive into Financial Metrics and Competitive StrengthsNext StepsGiven the company's strong financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights Steel Dynamics Inc'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

Steel Dynamics Inc (STLD): A Deep Dive into Financial Metrics and Competitive Strengths

https://finance.yahoo.com/news/steel-dynamics-inc-stld-deep-160305837.html

248201a2-4c51-3c68-a49c-83fabf299c11

STN

Stantec (TSE:STN) has had a great run on the share market with its stock up by a significant 13% over the last three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Stantec's ROE today.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. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders. See our latest analysis for Stantec How Do You 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 Stantec is:13% = CA$294m ÷ CA$2.3b (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 CA$1 worth of equity, the company was able to earn CA$0.13 in profit.What Has ROE Got To Do With Earnings Growth?So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.Stantec's Earnings Growth And 13% ROEAt first glance, Stantec seems to have a decent ROE. Further, the company's ROE is similar to the industry average of 10%. This probably goes some way in explaining Stantec's moderate 9.1% growth over the past five years amongst other factors.As a next step, we compared Stantec's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 8.2% in the same period.Story continuespast-earnings-growthThe basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is STN fairly valued? This infographic on the company's intrinsic value has everything you need to know.Is Stantec Making Efficient Use Of Its Profits?Stantec has a three-year median payout ratio of 37%, which implies that it retains the remaining 63% of its profits. This suggests that its dividend is well covered, and given the decent growth seen by the company, it looks like management is reinvesting its earnings efficiently.Additionally, Stantec has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 20% over the next three years. The fact that the company's ROE is expected to rise to 19% over the same period is explained by the drop in the payout ratio.SummaryIn total, we are pretty happy with Stantec'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 substantial growth in its earnings. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. 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.

Is Stantec Inc.'s (TSE:STN) Recent Stock Performance Tethered To Its Strong Fundamentals?

https://finance.yahoo.com/news/stantec-inc-tse-stn-recent-123310867.html

83fa3db6-a03a-3454-b779-2adc475818ac

STN

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

STRM

While Streamline Health Solutions, Inc. (NASDAQ:STRM) might not be the most widely known stock at the moment, it received a lot of attention from a substantial price movement on the NASDAQCM over the last few months, increasing to US$1.79 at one point, and dropping to the lows of US$1.25. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether Streamline Health Solutions' current trading price of US$1.35 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at Streamline Health Solutions’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. See our latest analysis for Streamline Health Solutions Is Streamline Health Solutions Still Cheap?According to my valuation model, Streamline Health Solutions seems to be fairly priced at around 5.3% below my intrinsic value, which means if you buy Streamline Health Solutions today, you’d be paying a fair price for it. And if you believe that the stock is really worth $1.43, then there’s not much of an upside to gain from mispricing. So, is there another chance to buy low in the future? Given that Streamline Health Solutions’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us an opportunity to buy later on. This is based on its high beta, which is a good indicator for share price volatility.What does the future of Streamline Health Solutions look like?earnings-and-revenue-growthFuture outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. With profit expected to grow by 26% over the next year, the near-term future seems bright for Streamline Health Solutions. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.Story continuesWhat This Means For YouAre you a shareholder? STRM’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the financial strength of the company. Have these factors changed since the last time you looked at the stock? Will you have enough conviction to buy should the price fluctuates below the true value?Are you a potential investor? If you’ve been keeping tabs on STRM, now may not be the most advantageous time to buy, given it is trading around its fair value. However, the optimistic prospect is encouraging for the company, which means it’s worth further examining other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. Case in point: We've spotted 4 warning signs for Streamline Health Solutions you should be mindful of and 1 of these doesn't sit too well with us.If you are no longer interested in Streamline Health Solutions, you can use our free platform to see our list of over 50 other stocks with a high growth potential.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

At US$1.35, Is It Time To Put Streamline Health Solutions, Inc. (NASDAQ:STRM) On Your Watch List?

https://finance.yahoo.com/news/us-1-35-time-put-164331675.html

a9b68cce-46a9-358c-9c98-c96fe163f4ff

STRM

Streamline Health Solutions, Inc.Atlanta, GA, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Streamline Health Solutions, Inc. (“Streamline” or the “Company”) (Nasdaq: STRM), a leading provider of solutions that enable healthcare providers to proactively address revenue leakage and improve financial performance, today announced that it will release its financial results for the three month period ended July 31, 2023 on Wednesday September 13, 2023 after the close of the financial markets.The Company will conduct a conference call on Thursday, September 14, 2023, at 9:00 AM ET to review results and provide a corporate update. Interested parties can access the call by joining the live webcast: click here to register. You can also join by phone by dialing 877-407-8291. Following the conference call, management will host 1x1 meetings at the Lake Street Capital Markets 7th Annual Best Ideas Growth Conference in New York, NYA replay of the conference call will be available from Thursday September 14, 2023, at 12:00 PM ET to Thursday, September 21, 2023, at 12:00 PM ET by dialing 877-660-6853 or 201-612-7415 with conference ID 13741041. An online replay of the presentation will also be available for six months following the presentation in the Investor Relations section of the Streamline website, www.streamlinehealth.net.About StreamlineStreamline Health Solutions, Inc. (Nasdaq: STRM) enables healthcare organizations to proactively address revenue leakage and improve financial performance. We deliver integrated solutions, technology-enabled services and analytics that drive compliant revenue leading to improved financial performance across the enterprise. For more information, visit www.streamlinehealth.net.Company ContactJacob GoldbergerDirector, Investor Relations and FP&[email protected]

GlobeNewswire

Streamline Health® To Report Second Quarter 2023 Financial Performance and Provide Corporate Update

https://finance.yahoo.com/news/streamline-health-report-second-quarter-203000503.html

5288adef-a979-3753-9b9a-daad7e9c0e9a

STRT

Strattec Security (STRT) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of a loss of $0.20 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 350%. A quarter ago, it was expected that this maker of automotive locks and keys would post a loss of $0.23 per share when it actually produced a loss of $0.57, delivering a surprise of -147.83%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Strattec Security , which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $132.22 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 5.62%. This compares to year-ago revenues of $123.07 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Strattec Security shares have added about 10.7% since the beginning of the year versus the S&P 500's gain of 16.4%.What's Next for Strattec Security?While Strattec Security has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Story continuesAhead of this earnings release, the estimate revisions trend for Strattec Security: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.23 on $126.7 million in revenues for the coming quarter and -$0.07 on $515.39 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Another stock from the same industry, Beam Global (BEEM), has yet to report results for the quarter ended June 2023. The results are expected to be released on August 14.This company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of -7.1%. The consensus EPS estimate for the quarter has been revised 20.8% higher over the last 30 days to the current level.Beam Global's revenues are expected to be $15.9 million, up 327.3% from the year-ago quarter.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportStrattec Security Corporation (STRT) : Free Stock Analysis ReportBeam Global (BEEM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Strattec Security (STRT) Q4 Earnings and Revenues Surpass Estimates

https://finance.yahoo.com/news/strattec-security-strt-q4-earnings-213011757.html

0545db78-11de-3089-9103-8bd82418c83b

STRT

Glendale-based automotive supplier Strattec Security Corp. exited a joint venture in China with the company’s CEO citing “geopolitical concerns” and a desire to grow its North American operations through the re-shoring trend and opportunities in the power-tailgate business.Continue reading

American City Business Journals

CEO discusses why Glendale automotive supplier exited joint venture in China

https://finance.yahoo.com/m/96952118-b04a-3ba6-b891-7b06bdba1d89/ceo-discusses-why-glendale.html

96952118-b04a-3ba6-b891-7b06bdba1d89

STSS

Sharps Technology IncKey appointment with demonstrated experience in leading sales and marketing operations to oversee commercial initiatives as the Company launches its specialty smart safety syringe products to the marketProduct qualification and sales initiatives underway as company prepares for U.S. commercial operationsNEW YORK, July 12, 2023 (GLOBE NEWSWIRE) -- Sharps Technology, Inc. (the “Company”) (NASDAQ: “STSS” and “STSSW”), an innovative medical device and drug delivery Company offering patented, best-in-class syringe products, is pleased to announce the appointment of Ben Scheu as Senior Director of Sales to lead commercial operations as the Company prepares to launch products to the market.Robert Hayes, Sharps Technology Chief Executive Officer, commented: “With an extensive career leading companies that manufacture pharmaceutical packaging products and a proven track record of driving revenue growth, Ben will play an integral role in accelerating Sharps’ expansion and solidifying the Company’s position in the market. I worked with Ben when he was the President and CEO of Centor, Inc., a business unit of Gerresheimer, and saw significant growth through his leadership in the Company’s prescription container and medication dispensing units to become the market leader in those segments. I am confident in his ability to expand our market presence with an initial focus on launching our Securegard® disposable smart safety syringe product line, and then leading the team that will introduce Sharps’ next-generation polymer-based prefilled syringe systems. Ben is well-positioned to contribute to our long-term success and we look forward to his leadership.”Mr. Scheu has held executive leadership positions in prominent healthcare companies and has demonstrated his ability to drive sales growth and develop effective commercial strategies. Prior to joining Sharps, Mr. Scheu served as President and CEO of Centor Inc., a pharmaceutical packaging manufacturing division of Gerresheimer with a complete line of regulatory compliant prescription containers for medication dispensing, packaging for robotic automation and standard and custom imprinted closures. At Centor, he oversaw significant revenue growth that led their company to achieve a market leading position in the prescription container and medication dispensing product segment. Additionally, Mr. Scheu served as COO of The Waddington Group, a division of Newell Brands (an $850 million per year disposable packaging manufacturer), President of B+H North America (a $400 million per year division of the AptarGroup), President of Rigid Closed Top (an ~$1B per year division of Berry Plastics Corporation), and executive sales and marketing roles at leading specialty market corporations.Story continuesMr. Scheu will be instrumental in leading Sharps’ marketing initiatives as the Company advances from research and development to commercial revenue. His initial focus will be leading sales efforts around Sharps’ commercial-ready Securegard®, a disposable smart safety syringe product offering with multiple configurations. Mr. Scheu will lead the efforts around commercialization and contracts with customers within the retail pharmacy space to support the efforts around the introduction of Sharps’ technology to healthcare customers, which include hospital networks. Sharps recently announced a qualification agreement with a major medical device company for its smart safety syringe technology that could drive increased commercial revenue in 2023. The agreement will begin with the 1mL and 3mL Securegard® product line and will be followed by Sologard® Luer lock syringes for larger volume drug applications. The qualification agreement will allow for the opportunity to create secondary sales agreements with additional key hospital networks, which Mr. Scheu will oversee.In conjunction with the vial-draw product launch, Sharps is also preparing for the commercialization of its next-generation polymer-based prefilled syringe systems, which will be the Company’s future growth driver. Technical and commercial resources will be added to Mr. Scheu’s prefilled product team, and Sharps will begin manufacturing from the Inject-EZ facility in Columbia, South Carolina. Through Mr. Scheu’s deep expertise in plastics operations and sales, he will play an integral role in supporting the partnership with Nephron Pharmaceuticals.About Sharps TechnologySharps Technology is a medical device and pharmaceutical packaging company specializing in the development and manufacturing of innovative drug delivery systems. The Company’s product lines focus on low waste and ultra-low waste syringe technologies that incorporate both passive and active safety features. These features protect front line healthcare workers from life-threatening needle stick injuries and protect the public from needle re-use. Sharps Technology has extensive expertise in specialized prefilled syringe systems and ready to use processing. The Company has a manufacturing facility in Hungary and has partnered with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. For additional information, please visit www.sharpstechnology.com.Forward-Looking Statements:This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity, and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance, or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.Investor Relations:US Investor Relations: Adam Holdsworth, Managing DirectorTraDigital [email protected]

GlobeNewswire

Sharps Technology Appoints Industry Sales and Manufacturing Leader Ben Scheu as Senior Director of Sales

https://finance.yahoo.com/news/sharps-technology-appoints-industry-sales-123300861.html

137ee115-3745-30cd-b9b4-3e7cf90e98fb

STSS

New podcast series shines a spotlight on undervalued small-cap and microcap stocksORLANDO, FL / ACCESSWIRE / August 2, 2023 / RedChip Companies, a renowned international investor relations firm specializing in microcap and small-cap companies,announce the launch of its much-anticipated podcast series, "Small Stocks, Big Money."Hosted by RedChip CEO Dave Gentry and Associate Director Barrett Boone, the "Small Stocks, Big Money" podcast aims to offer a first-hand look at undiscovered small-cap and microcap stocks before they catch the attention of bigger Wall Street players. The series features in-depth interviews with executives from some of the top names in smaller cap stocks, providing listeners with an insider perspective they won't find anywhere else."Small Stocks, Big Money is not just a podcast. It's a mission to empower everyday investors by providing them with the knowledge and insights they need to discover potentially lucrative investment opportunities," said Gentry. "We're taking our 30 plus years of experience in the microcap space and sharing it with the world. Our vision is to shed light on these lesser-known companies that hold the potential to deliver substantial returns."Episodes of "Small Stocks, Big Money" are now available for streaming on major platforms including Spotify, Amazon, and Apple.The debut episodes of "Small Stocks, Big Money" feature Sharps Technology (Nasdaq:STSS), BullFrog AI (Nasdaq:BFRG), Zomedica (NYSE American:ZOM), Lantern Pharma (Nasdaq:LTRN), and Reviva Pharmaceuticals (Nasdaq:RVPH).Listeners are encouraged to subscribe to the series to stay up-to-date with the latest episodes. Each installment promises to be a deep dive into the fast-paced world of microcap investing, offering unique insights that could shape the future of your investment portfolio.The "Small Stocks, Big Money" podcast series takes inspiration from the book of the same name written by Gentry. Published by Wiley, the book offers a unique perspective on microcap investing through a series of insightful interviews with small stock superstars. It provides readers with key lessons learned from successful investments and helps them understand how to discover promising companies, develop solid investment strategies, and navigate the risks associated with smaller companies. This wealth of knowledge now extends to the podcast, making it an invaluable resource for anyone interested in the world of small stocks and big money.About RedChip CompaniesRedChip Companies, an Inc. 5000 company, is an international investor relations, media, and research firm focused on microcap and small-cap companies. For 30 years, RedChip has delivered concrete, measurable results for its clients. Our newsletter, the RedChip Money Report is delivered online weekly to 60,000 investors. RedChip has developed the most comprehensive service platform in the industry for microcap and small-cap companies. These services include the following: a worldwide distribution network for its stock research; retail and institutional roadshows in major U.S. cities; outbound marketing to stock brokers, RIAs, institutions, and family offices; a digital media investor relations platform that has generated millions of unique investor views; investor webinars and group calls; a television show, "The RedChip Money Report," which airs weekly on Bloomberg US; TV commercials in local and national markets; corporate and product videos; website design; and traditional investor relation services, which include press release writing, development of investor presentations, quarterly conference call script writing, strategic consulting, capital raising, and more.To learn more about RedChip's products and services, please visit:https://www.redchip.com/corporate/investor_relations"Discovering Tomorrow's Blue Chips Today"™Contact:Dave GentryRedChip Companies Inc.1-800-RED-CHIP (733-2447)Or [email protected]: RedChipView source version on accesswire.com: https://www.accesswire.com/771825/redchip-launches-small-stocks-big-money-podcast

ACCESSWIRE

RedChip Launches 'Small Stocks, Big Money' Podcast

https://finance.yahoo.com/news/redchip-launches-small-stocks-big-164500112.html

0abae1b1-2ba7-3986-83d4-62bcb6565fdf

STT

State Street Corporation (NYSE:STT) has announced that it will be increasing its dividend from last year's comparable payment on the 12th of October to $0.69. This makes the dividend yield 4.0%, which is above the industry average. Check out our latest analysis for State Street State Street's Earnings Will Easily Cover The DistributionsImpressive dividend yields are good, but this doesn't matter much if the payments can't be sustained.Having distributed dividends for at least 10 years, State Street has a long history of paying out a part of its earnings to shareholders. Taking data from its last earnings report, calculating for the company's payout ratio shows 34%, which means that State Street would be able to pay its last dividend without pressure on the balance sheet.Looking forward, EPS is forecast to rise by 9.7% over the next 3 years. Analysts estimate the future payout ratio will be 36% over the same time period, which is in the range that makes us comfortable with the sustainability of the dividend.historic-dividendState Street Has A Solid Track RecordThe company has been paying a dividend for a long time, and it has been quite stable which gives us confidence in the future dividend potential. Since 2013, the dividend has gone from $0.96 total annually to $2.76. This means that it has been growing its distributions at 11% per annum over that time. It is good to see that there has been strong dividend growth, and that there haven't been any cuts for a long time.The Dividend Has Growth PotentialInvestors who have held shares in the company for the past few years will be happy with the dividend income they have received. State Street has impressed us by growing EPS at 6.0% per year over the past five years. A low payout ratio and decent growth suggests that the company is reinvesting well, and it also has plenty of room to increase the dividend over time.We Really Like State Street's DividendIn summary, it is always positive to see the dividend being increased, and we are particularly pleased with its overall sustainability. Distributions are quite easily covered by earnings, which are also being converted to cash flows. All of these factors considered, we think this has solid potential as a dividend stock.Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. Meanwhile, despite the importance of dividend payments, they are not the only factors our readers should know when assessing a company. For instance, we've picked out 1 warning sign for State Street that investors should take into consideration. Is State Street not quite the opportunity you were looking for? Why not check out our selection of top dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

State Street's (NYSE:STT) Dividend Will Be Increased To $0.69

https://finance.yahoo.com/news/state-streets-nyse-stt-dividend-101819831.html

d5cde094-09dc-3b44-b153-e9bf4a0401e4

STT

BOSTON, September 06, 2023--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) announced today that President & Chief Operating Officer and Head of Investment Services, Lou Maiuri, and Vice Chairman & Chief Financial Officer, Eric Aboaf, will participate in the Barclays Global Financial Services Conference in New York on Monday, September 11, 2023, at 9:00 am ET.An audio webcast and materials will be accessible on the home page of State Street’s Investor Relations website, https://investors.statestreet.com/. A recorded replay will be available on the Investor Relations website later that day, for approximately ninety days following the presentation.About State Street CorporationState Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $39.6 trillion in assets under custody and/or administration and $3.8 trillion* in assets under management as of June 30, 2023, State Street operates globally in more than 100 geographic markets and employs approximately 43,000 worldwide. For more information, visit State Street's website at www.statestreet.com.*Assets under management as of June 30, 2023 includes approximately $63 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906883507/en/ContactsMedia Contact:Carolyn Cichon+1 (617) 664-8672Investor Contact: Ilene Fiszel Bieler+1 (617) 664-3477

Business Wire

State Street to Participate in Barclays Global Financial Services Conference

https://finance.yahoo.com/news/state-street-participate-barclays-global-232700217.html

80b00a79-4560-332c-b89a-f10cbad72726

STTK

Shattuck Labs, Inc.– Presented complete data from Phase 1A clinical trial of SL-172154 as monotherapy in platinum-resistant ovarian cancer (PROC) at the American Society of Clinical Oncology (ASCO) 2023 annual meeting, including data supporting 3 mg/kg as the appropriate dose for each PROC combination cohort –– Completed enrollment in the dose-escalation portion of the Phase 1A/B clinical trial of SL-172154 in relapsed/refractory acute myeloid leukemia (AML) and higher-risk myelodysplastic syndromes (HR-MDS); and expect to complete enrollment in both frontline expansion cohorts in HR-MDS and TP53 mutant AML in the fourth quarter of 2023 –– Enrollment progressing in the Phase 1B clinical trial of SL-172154 in combination with liposomal doxorubicin in PROC, completion of enrollment and initial data expected in the fourth quarter of 2023 – – Enrollment progressing in the Phase 1B clinical trial of SL-172154 in combination with mirvetuximab soravtansine in PROC; initial data expected in the fourth quarter of 2023 –AUSTIN, TX and DURHAM, NC, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Shattuck Labs, Inc. (Shattuck) (NASDAQ: STTK), a clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins as a new class of biologic medicine for the treatment of patients with cancer and autoimmune disease, today reported financial results for the quarter ended June 30, 2023, and provided recent business highlights.“We are pleased with our continued progress in enrollment in our ongoing trials in the second quarter of 2023, and in particular to now have four different expansion cohorts well underway in our AML/HR-MDS and PROC trials,” said Taylor Schreiber, M.D., Ph.D., Chief Executive Officer of Shattuck. “We believe that data from our dose-escalation study in PROC presented at ASCO demonstrated that SL-172154 may be a differentiated CD47 inhibitor due to the integrated CD40 agonist function, and we look forward to sharing initial combination data across multiple tumors and lines of therapy by the end of the year.”Story continues2023 Anticipated Milestones ARC PlatformSL-172154 (SIRPα-Fc-CD40L)Complete enrollment and initial data from the ongoing Phase 1B clinical trial of SL-172154 in combination with liposomal doxorubicin in PROC expected in the fourth quarter of 2023.Initial data from the ongoing Phase 1B clinical trial of SL-172154 in combination with mirvetuximab soravtansine in PROC expected in the fourth quarter of 2023.Complete dose-escalation data, as monotherapy and in combination with azacitidine, for Phase 1A clinical trial of SL-172154 in primarily relapsed/refractory AML and HR-MDS expected in the fourth quarter of 2023.Completion of enrollment in the frontline TP53 mutant AML dose-expansion cohort and frontline HR-MDS dose-expansion cohort from our ongoing Phase 1A/B clinical trial of SL-172154 and initial data expected in the fourth quarter of 2023.Second Quarter 2023 Recent Business Highlights and Other Recent DevelopmentsARC Clinical-Stage Pipeline SL-172154 (SIRPα-Fc-CD40L)Presented Complete Dose-Escalation Data from Phase 1A Monotherapy Clinical Trial of SL-172154 in PROC at the 2023 ASCO Annual Meeting: This open-label, multi-center, dose-escalation clinical trial evaluated the safety, tolerability, pharmacokinetics, anti-tumor activity, and pharmacodynamic effects of SL-172154 administered intravenously in patients with PROC. SL-172154 had near-full CD47 and CD40 target engagement and CD40-dependent pharmacodynamic effects observed at the 3 mg/kg dose. SL-172154 had a favorable safety and tolerability profile across doses. The best response per RECIST 1.1 was stable disease in six (22%) patients.Completed Enrollment in Dose-escalation Portion of Phase 1A/B Clinical Trial of SL-172154 in AML and HR-MDS: This trial is evaluating the safety, tolerability, pharmacokinetics, anti-tumor activity, and pharmacodynamic effects of SL-172154 as both monotherapy and in combination with azacitidine. In the dose-escalation portion of this trial, enrollment is complete. We are now enrolling patients in the dose expansion cohorts, evaluating SL-172154 in combination with azacitidine in both frontline HR-MDS patients and in frontline TP53 mutant AML. We expect to complete enrollment for the two expansion cohorts in the fourth quarter of 2023. We expect to share complete data from the dose-escalation portion of the trial and initial data from the frontline expansion cohorts in the fourth quarter of 2023.Enrollment Progressing in Phase 1B Clinical Trial of SL-172154 in Combination with Liposomal Doxorubicin in PROC: Enrollment is continuing in this trial, which is evaluating the safety, tolerability, pharmacokinetics, anti-tumor activity, and pharmacodynamic effects of SL-172154, using the selected dose of 3 mg/kg, in combination with liposomal doxorubicin in patients with PROC. We completed enrollment in the safety run in portion of this trial in the second quarter of 2023 and expect to complete enrollment in the expansion cohort and present initial data from the trial in the fourth quarter of 2023.Enrollment Progressing in Phase 1B Clinical Trial of SL-172154 in Combination with Mirvetuximab Soravtansine in PROC. This trial is evaluating the safety, pharmacokinetics, pharmacodynamic effects, and preliminary anti-tumor activity of SL-172154 administered in combination with mirvetuximab soravtansine in patients with PROC. Mirvetuximab soravtansine is an antibody-drug conjugate targeting folate receptor alpha (FRα), which provides for both direct tumor cell killing as well as enhanced macrophage phagocytosis through binding with Fc gamma receptors and has received accelerated approval for PROC patients whose tumors are shown to be FRα positive, defined as ≥75%, as determined by the VENTANA FOLR1 (FOLR1-2.1) RxDx Assay. Preclinical studies have shown that both of these killing mechanisms are complementary to the mechanism of SL-172154 by enhancing the activity of macrophages to phagocytose FRα- expressing ovarian cancer cells, and that SL-172154 may broaden the activity of mirvetuximab, particularly in patients with tumors that express lower levels of FRα. We intend to enroll patients with broader FRα expression, including those with “high” (greater than ≥75%), “medium” (≥50% to <75%), and “low” (≥25% to <50%) expression of FRα, as determined by the VENTANA FOLR1 (FOLR1-2.1). We expect to present initial data from the trial in the fourth quarter of 2023.Gamma Delta T Cell Engager (GADLEN) PlatformGADLEN Preclinical CompoundsIn an initial non-human primate toxicology study, presented at the 2023 Annual Meeting of the American Association for Cancer Research, we observed dose-dependent B cell depletion following administration of a CD20-directed GADLEN. Subsequently, in the second quarter of 2023, we performed an additional toxicology study in non-human primates that was designed to expand upon the initial non-human primate study. In this second study, the depth and durability of B cell depletion were inferior to that reported in published studies with other B cell depleting agents. We are working to determine the underlying scientific cause for these differences in B cell response, and whether these are due to species differences between humans and cynomolgus macaques, or due to aspects inherent to gamma delta T cell biology. We do not currently plan to file an Investigational New Drug application for any GADLEN compounds until these data are better understood.Second-Quarter 2023 Financial ResultsCash and Cash Equivalents and Investments: As of June 30, 2023, cash and cash equivalents and investments were $117.2 million, as compared to $214.2 million as of June 30, 2022.Research and Development (R&D) Expenses: R&D expenses were $18.2 million for the quarter ended June 30, 2023, as compared to $23.0 million for the quarter ended June 30, 2022. This decrease was primarily driven by a decrease in expense associated with the manufacture of clinical trial materials to support our ongoing clinical trials. General and Administrative (G&A) Expenses: G&A expenses were $4.7 million for the quarter ended June 30, 2023, as compared to $4.7 million for the quarter ended June 30, 2022.Net Loss: Net loss was $21.3 million for the quarter ended June 30, 2023, or $0.50 per basic and diluted share, as compared to a net loss of $27.4 million for the quarter ended June 30, 2022, or $0.65 per basic and diluted share.2023 Financial GuidanceShattuck believes its cash and cash equivalents and investments will be sufficient to fund its operations through year-end 2024, beyond results from its Phase 1 clinical trials of SL-172154. This cash runway guidance is based on the Company’s current operational plans and excludes any additional capital that may be received, proceeds from business development transactions, and/or additional costs associated with clinical development activities that may be undertaken.About SL-172154SL-172154 (SIRPα-Fc-CD40L) is an investigational ARC® fusion protein designed to simultaneously inhibit the CD47/SIRPα checkpoint interaction and activate the CD40 costimulatory receptor to bolster an anti-tumor immune response in patients with advanced cancer. Multiple Phase 1 clinical trials are ongoing for patients with PROC (NCT04406623, NCT05483933) and patients with AML and HR-MDS (NCT05275439).About Shattuck Labs, Inc.Shattuck Labs, Inc. (NASDAQ: STTK) is a clinical-stage biotechnology company pioneering the development of bi-functional fusion proteins as a new class of biologic medicine for the treatment of patients with cancer and autoimmune disease. Compounds derived from Shattuck’s proprietary Agonist Redirected Checkpoint, (“ARC®”), platform are designed to simultaneously inhibit checkpoint molecules and activate costimulatory molecules with a single therapeutic. The company’s lead SL-172154 (SIRPα-Fc-CD40L) program, which is designed to block the CD47 immune checkpoint and simultaneously agonize the CD40 pathway, is being evaluated in multiple Phase 1 trials. Shattuck has offices in both Austin, Texas and Durham, North Carolina. For more information, please visit: www.ShattuckLabs.com.Forward-Looking StatementsCertain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, our expectations regarding plans for our preclinical studies, clinical trials and research and development programs, plans for clinical trial design, the anticipated timing of the results from our preclinical studies and clinical trials, anticipated timing of enrollment in our clinical trials, anticipated timing for preclinical development updates, potential safety and clinical benefit of our product candidates, and expectations regarding the time period over which our capital resources will be sufficient to fund our anticipated operations. Words such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “develop,” “plan” or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While we believe these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in our filings with the U.S. Securities and Exchange Commission (the “SEC”)), many of which are beyond our control and subject to change. Actual results could be materially different. Risks and uncertainties include: global macroeconomic conditions and related volatility, expectations regarding the initiation, progress, and expected results of our preclinical studies, clinical trials and research and development programs; expectations regarding the timing, completion and outcome of our clinical trials; the unpredictable relationship between preclinical study results and clinical study results; the timing or likelihood of regulatory filings and approvals; liquidity and capital resources; and other risks and uncertainties identified in our Annual Report on Form 10-K for the year ended December 31, 2022, and subsequent disclosure documents filed with the SEC. We claim the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We expressly disclaim any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.The Company intends to use the investor relations portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD.Investor & Media Contact: Conor RichardsonVice President of Investor RelationsShattuck Labs, [email protected] LABS, INC. CONDENSED BALANCE SHEETS(In thousands) June 30, 2023December 31, (unaudited)2022Assets  Current assets:  Cash and cash equivalents$71,893  $47,379 Investments 45,279   113,901 Prepaid expenses and other current assets 19,278   23,304 Total current assets 136,450   184,584 Property and equipment, net 16,015   17,671 Other assets 2,805   3,069 Total assets$155,270  $205,324    Liabilities and Stockholders’ Equity  Current liabilities:  Accounts payable$2,011  $7,170 Accrued expenses and other current liabilities 10,983   17,795 Total current liabilities 12,994   24,965 Non-current operating lease liabilities 3,818   4,202 Total liabilities 16,812   29,167 Stockholders’ equity:  Common stock 5   5 Additional paid-in capital 399,609   396,041 Accumulated other comprehensive loss (74)  (877)Accumulated deficit (261,082)  (219,012)Total stockholders’ equity 138,458   176,157 Total liabilities and stockholders’ equity$155,270  $205,324 SHATTUCK LABS, INC. CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (In thousands, except share and per share amounts)  Three Months Ended June 30, Six Months Ended June 30,  2023   2022   2023   2022 Collaboration revenue$200  $50  $257  $50 Operating expenses:       Research and development 18,205   22,963   34,872   42,150 General and administrative 4,742   4,745   9,793   9,724 Expense from operations 22,947   27,708   44,665   51,874 Loss from operations (22,747)  (27,658)  (44,408)  (51,824)        Other income (expense) 1,401   287   2,338   (75)Net loss$(21,346) $(27,371) $(42,070) $(51,899)Unrealized gain (loss) on investments 265   (581)  803   (548)Comprehensive loss$(21,081) $(27,952) $(41,267) $(52,447)        Net loss per share – basic and diluted$(0.50) $(0.65) $(0.99) $(1.22)Weighted-average shares outstanding – basic and diluted 42,467,664   42,380,454   42,453,513   42,369,102 

GlobeNewswire

Shattuck Labs Reports Second Quarter 2023 Financial Results and Recent Business Highlights

https://finance.yahoo.com/news/shattuck-labs-reports-second-quarter-200000038.html

290ff837-ea2c-3938-a3ba-c660821e8bab

STTK

Shattuck Labs, Inc. (STTK) came out with a quarterly loss of $0.50 per share versus the Zacks Consensus Estimate of a loss of $0.52. This compares to loss of $0.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.85%. A quarter ago, it was expected that this company would post a loss of $0.61 per share when it actually produced a loss of $0.49, delivering a surprise of 19.67%.Over the last four quarters, the company has surpassed consensus EPS estimates four times.Shattuck Labs, Inc. , which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $0.2 million for the quarter ended June 2023, missing the Zacks Consensus Estimate by 44.44%. This compares to year-ago revenues of $0.06 million. The company has topped consensus revenue estimates just once over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Shattuck Labs, Inc. Shares have added about 5.7% since the beginning of the year versus the S&P 500's gain of 16.4%.What's Next for Shattuck Labs, Inc.While Shattuck Labs, Inc. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Story continuesAhead of this earnings release, the estimate revisions trend for Shattuck Labs, Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.56 on $0.37 million in revenues for the coming quarter and -$1.98 on $1.5 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the broader Zacks Medical sector, Aspira (AWH), is yet to report results for the quarter ended June 2023. The results are expected to be released on August 14.This diagnostic and bio-analytical company is expected to post quarterly loss of $0.47 per share in its upcoming report, which represents a year-over-year change of +55.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Aspira's revenues are expected to be $2.8 million, up 35.3% from the year-ago quarter.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportShattuck Labs, Inc. (STTK) : Free Stock Analysis ReportAspira Women's Health Inc. (AWH) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Shattuck Labs, Inc. (STTK) Reports Q2 Loss, Lags Revenue Estimates

https://finance.yahoo.com/news/shattuck-labs-inc-sttk-reports-211509484.html

de706b07-a519-368a-b17d-dc88271afb6f

STX

FREMONT, Calif., September 06, 2023--(BUSINESS WIRE)--Seagate HDD Cayman (the "Company"), a subsidiary of Seagate Technology Holdings plc (NASDAQ: STX) ("Seagate"), today announced that it intends, subject to market and other conditions, to offer up to $1.3 billion in aggregate principal amount of exchangeable senior notes due 2028 (the "Notes") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company also expects to grant the initial purchasers of the Notes an option to purchase up to an additional $200 million aggregate principal amount of Notes for settlement within a 13-day period beginning on, and including, the date on which the notes are first issued, solely to cover over-allotments. The Notes are expected to be guaranteed by Seagate and Seagate Technology Unlimited Company.The Notes will be exchangeable under certain circumstances at the option of the holders into cash up to the aggregate principal amount of Notes to be exchanged, and cash, ordinary shares of Seagate, or a combination of both, at Seagate’s election, in respect of any remainder of the Company’s conversion obligation in excess of such principal amount. The interest rate, initial exchange rate and other terms of the Notes will be determined at the time of pricing of the offering.In connection with the pricing of the Notes, the Company and Seagate expect to enter into privately negotiated capped call transactions with one or more of the initial purchasers in the Note offering or their respective affiliates and/or other financial institutions (the "option counterparties") having an expiration date that is the same as the maturity date of the Notes. The capped call transactions are expected to cover, subject to customary anti-dilution adjustments substantially similar to those applicable to the Notes, the same number of Seagate’s ordinary shares that will initially underly the Notes.Story continuesThe capped call transactions are expected generally to reduce the potential dilution to Seagate’s ordinary shares and/or offset potential cash payments the Company is required to make in excess of the principal amount, in each case, upon any exchange of the Notes, with such reduction and/or offset subject to a cap. If the market price per ordinary share, as measured under the terms of the capped call transactions, exceeds the cap price of the capped call transactions, there would nevertheless be dilution and/or there would not be an offset of such potential cash payments, in each case, to the extent that such market price exceeds the cap price of the capped call transactions. If the initial purchasers of the Notes exercise their over-allotment option, the Company expects to enter into additional capped call with the option counterparties.The Company expects that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates will enter into various derivative transactions with respect to Seagate’s ordinary shares and/or purchase Seagate’s ordinary shares concurrently with or shortly after the pricing of the Notes. This activity could increase (or reduce the size of any decrease in) the market price of ordinary shares or the Notes at that time. In addition, the Company expects that the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Seagate’s ordinary shares and/or by purchasing or selling Seagate’s ordinary shares or other securities of the Company in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so during the final observation period related to an exchange of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of the ordinary shares or the Notes, which could affect the ability of holders to exchange their Notes and, to the extent the activity occurs during any observation period related to an exchange of the Notes, it could affect the amount of cash that holders will receive upon exchange of their Notes.The Company intends to use the net proceeds from the offering of the Notes to repay existing indebtedness, including portions of the Company’s outstanding term loans and/or senior notes, and for general corporate purposes, which may include repayment of other outstanding indebtedness, capital expenditures and other investments in the business.This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Notes, guarantees, and ordinary shares to be offered have not been and will not be registered under the Securities Act, or applicable state securities laws, and may not be offered or sold in the United States absent registration except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.About SeagateSeagate Technology is the leading innovator of mass-capacity data storage solutions. We create breakthrough technology so you can confidently store your data and easily unlock its value. Founded over 45 years ago, Seagate has shipped over four billion terabytes of data capacity and offers a full portfolio of storage devices, systems, and services from edge to cloud.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-looking statements include, among other things, statements about the terms and conditions of, and completion of, the offering of the Notes and the use of proceeds therefrom, the execution of capped call transactions, and the entry into derivative transactions by counterparties and the potential effect on the Company’s ordinary shares and Notes related thereto, each as described above. The Company cannot assure that the offering will be consummated, nor can it guarantee the size or terms of the offering. Forward-looking statements generally can be identified by words such as "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "projects," "should," "may," "will," "will continue," "can," "could" or the negative of these words, variations of these words and comparable terminology, in each case, intended to refer to future events or circumstances. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are subject to various uncertainties and risks that could cause the Company’s actual results to differ materially from historical experience and the Company’s present expectations or projections. These risks and uncertainties include, but are not limited to, those described under the captions "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in the Company’s latest periodic report on Form 10-K filed with the U.S. Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on, and which speak only as of, the date hereof. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, unless required by applicable law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906894604/en/ContactsInvestor Relations Contact: Shanye Hudson, (510) [email protected] Contact: Gregory Belloni, (415) [email protected]

Business Wire

Seagate Announces Offering of Exchangeable Senior Unsecured Notes

https://finance.yahoo.com/news/seagate-announces-offering-exchangeable-senior-223900761.html

64eaac28-302f-3cc3-bfa1-edbb83264a0d

STX

FREMONT, Calif., September 08, 2023--(BUSINESS WIRE)--Seagate HDD Cayman (the "Company"), a subsidiary of Seagate Technology Holdings plc (NASDAQ: STX) ("Seagate"), announced that it priced its earlier announced offering of $1.3 billion aggregate principal amount of exchangeable senior notes due 2028 (the "Notes"). The 2028 Notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 3.50% per annum. In addition, the Company has granted the initial purchasers of the Notes an option to purchase up to an additional $200 million aggregate principal amount of Notes for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued, solely to cover over-allotments. The Notes will be guaranteed by Seagate and Seagate Technology Unlimited Company.The Notes will be exchangeable at the option of the holders only under certain circumstances and solely into cash up to the aggregate principal amount of Notes to be exchanged, and cash, ordinary shares of Seagate, or a combination of both, at Seagate’s election, in respect of any remainder of the Company’s conversion obligation in excess of such principal amount. The initial exchange rate for the Notes is 12.1253 ordinary shares per $1,000 principal amount of Notes (equivalent to an initial exchange price of approximately $82.47 per share, which represents an exchange premium of approximately 30% to the last reported sale price of the ordinary shares on The Nasdaq Global Market on September 7, 2023).In connection with the pricing of the Notes, the Company and Seagate entered into privately negotiated capped call transactions with one or more of the initial purchasers in the Note offering or their respective affiliates and/or other financial institutions (the "option counterparties") having an expiration date that is the same as the maturity date of the Notes. The capped call transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of Seagate’s ordinary shares initially underlying the Notes and are expected generally to reduce the potential dilution to Seagate’s ordinary shares and/or offset any cash payments, in each case, that the Company is required to make upon exchange of the Notes in excess of the principal amount thereof in the event that the market value per ordinary share, as measured under the capped call transactions, is greater than the strike price of the capped call transactions, with such reduction or offset being subject to a cap. The cap price of the capped call transactions will initially be $107.8480 per share, which represents a premium of 70% over the last reported sale price of the ordinary shares of $63.44 per share on The Nasdaq Global Market on September 7, 2023. If the initial purchasers of the Notes exercise their over-allotment option, the Company expects to enter into additional capped call transactions with the option counterparties.Story continuesThe Company expects that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates will enter into various derivative transactions with respect to Seagate’s ordinary shares and/or purchase Seagate’s ordinary shares concurrently with or shortly after the pricing of the Notes. This activity could increase (or reduce the size of any decrease in) the market price of ordinary shares or the Notes at that time. In addition, the Company expects that the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Seagate’s ordinary shares and/or by purchasing or selling Seagate’s ordinary shares or other securities of the Company in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so during the final observation period related to an exchange of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of the ordinary shares or the Notes, which could affect the ability of holders to exchange their Notes and, to the extent the activity occurs during any observation period related to an exchange of the Notes, it could affect the amount of cash that holders will receive upon exchange of their Notes.The Notes are being sold in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The sale of the Notes is expected to close on September 13, 2023, subject to customary closing conditions.The Company intends to use approximately $1.1 billion (or approximately $1.3 billion if the initial purchasers exercise their over-allotment option in full) of the net proceeds from the Notes to repay existing indebtedness, including portions of the Company’s outstanding term loans and/or senior notes. The remaining net proceeds will be used for general corporate purposes, which may include repayment of other outstanding indebtedness, capital expenditures and other investments in the business.This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Notes, guarantees, and ordinary shares to be offered have not been and will not be registered under the Securities Act, or applicable state securities laws, and may not be offered or sold in the United States absent registration except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.About SeagateSeagate Technology is the leading innovator of mass-capacity data storage solutions. We create breakthrough technology so you can confidently store your data and easily unlock its value. Founded over 45 years ago, Seagate has shipped over four billion terabytes of data capacity and offers a full portfolio of storage devices, systems, and services from edge to cloud.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-looking statements include, among other things, statements about the terms and conditions of, and completion of, the offering of the Notes and the use of proceeds therefrom, and the entry into derivative transactions by counterparties and the potential effect on the Company’s ordinary shares and Notes related thereto, each as described above. The Company cannot assure that the offering will be consummated, nor can it guarantee the size or terms of the offering. Forward-looking statements generally can be identified by words such as "expects," "intends, "plans," "anticipates," "believes," "estimates," "predicts," "projects," "should," "may," "will," "will continue," "can," "could" or the negative of these words, variations of these words and comparable terminology, in each case, intended to refer to future events or circumstances. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are subject to various uncertainties and risks that could cause the Company’s actual results to differ materially from historical experience and the Company’s present expectations or projections. These risks and uncertainties include, but are not limited to, those described under the captions "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in the Company’s latest periodic report on Form 10-K filed with the U.S. Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on, and which speak only as of, the date hereof. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, unless required by applicable law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908030276/en/ContactsInvestor Relations Contact: Shanye Hudson, (510) [email protected] Contact: Gregory Belloni, (415) [email protected]

Business Wire

Seagate Announces Pricing of $1.3 Billion of Exchangeable Senior Unsecured Notes

https://finance.yahoo.com/news/seagate-announces-pricing-1-3-110000464.html

fac40a4c-7c16-3532-adf4-08ada8b18441

STZ

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Constellation Brands (STZ). This company, which is in the Zacks Beverages - Alcohol industry, shows potential for another earnings beat.This wine, liquor and beer company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 4.64%.For the most recent quarter, Constellation Brands was expected to post earnings of $2.83 per share, but it reported $2.91 per share instead, representing a surprise of 2.83%. For the previous quarter, the consensus estimate was $1.86 per share, while it actually produced $1.98 per share, a surprise of 6.45%.With this earnings history in mind, recent estimates have been moving higher for Constellation Brands. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.Constellation Brands has an Earnings ESP of +1.85% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on October 5, 2023.Story continuesInvestors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.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 reportConstellation Brands Inc (STZ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Constellation Brands (STZ) Could Beat Earnings Estimates Again

https://finance.yahoo.com/news/why-constellation-brands-stz-could-161002812.html

7cfec377-9896-3a66-95cf-02b6084993a9

STZ

Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on three names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Chewy Inc. recently was downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.Continue reading

TheStreet.com

Bearish Bets: 3 Stocks You Definitely Should Think About Shorting This Week

https://finance.yahoo.com/m/73eb125c-9171-3578-baab-60da0e8d1bc9/bearish-bets-3-stocks-you.html

73eb125c-9171-3578-baab-60da0e8d1bc9

SURF

Surface Oncology, Inc.CAMBRIDGE, Mass., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Surface Oncology (Nasdaq: SURF), a clinical-stage immuno-oncology company developing next-generation immunotherapies that target the tumor microenvironment, today reported financial results and corporate highlights for the second quarter 2023.“We are pleased with the progress we have made over the past several months which includes the advancement of the SRF388 and SRF114 clinical trials and the significant efforts we have undertaken towards completing our planned merger with Coherus BioSciences,” said Rob Ross, M.D., chief executive officer of Surface. “To truly realize the potential of SRF388 and SRF114, it is essential that these molecules are developed with both the resources and companion drugs needed to successfully advance them through the clinic and bring them to the market. We firmly believe that with Coherus, our programs will have the best possible opportunity to benefit patients and realize value for our shareholders.”Proposed Merger of Surface Oncology and Coherus BioSciencesAs announced on June 16, 2023, the proposed merger will strengthen Coherus’ pipeline with global rights to two innovative, competitively positioned, clinical-stage assets: SRF388, the only IL-27 targeted antibody in clinical development which has demonstrated activity as a monotherapy and in combination with checkpoint inhibitors; and SRF114, a high affinity, fully human antibody demonstrated to specifically bind to CCR8.   SRF388 and SRF114 have potential as monotherapy and as combination treatments with other immuno-oncology agents, including Coherus’ toripalimab.In conjunction with the merger announcement, Surface conducted a reduction in force that affected approximately 30 employees or 50 percent of the workforce. Surface anticipates it will have net cash of $20 million to $25 million at the closing of the proposed merger.If the merger is not approved by shareholders, Surface anticipates its remaining cash and cash equivalents will provide runway through 2023, compared to its previous guidance of cash runway into the second half of 2024. This reduced cash runway is a result of expenditures related to the merger including repayment of a $25 million loan and costs associated with the termination of the lease at 50 Hampshire Street. If the merger does not close, Surface’s board of directors intends to evaluate all viable strategic alternatives including bankruptcy or dissolution proceedings.Story continuesNear-term Corporate MilestonesSurface Oncology will hold a Special Meeting of Stockholders on September 7, 2023, to approve the merger with Coherus. A definitive proxy statement was filed with the Securities and Exchange Commission and mailed to all registered stockholders as of July 21, 2023, the record date. The Surface Oncology board of directors unanimously recommends that stockholders vote in favor of all proposals.Financial ResultsAs of June 30, 2023, cash, cash equivalents and marketable securities were $56.3 million, compared to $124.8 million as of December 31, 2022.General and administrative (G&A) expenses were $8.6 million for the second quarter ended June 30, 2023, compared to $6.4 million for the same period in 2022. The increase primarily relates to an increase in legal and other professional fees related to the proposed merger with Coherus. G&A expenses included $0.8 million in stock-based compensation expense for the second quarter ended June 30, 2023.Research and development (R&D) expenses were $13.8 million for the second quarter ended June 30, 2023, compared to $18.2 million for the same period in 2022. This decrease was primarily driven by a reduction in manufacturing costs for our SRF388 program and the strategic decision to pause the SRF617 program as part of our corporate restructuring in November 2022. R&D expenses included $0.4 million in stock-based compensation expense for the second quarter ended June 30, 2023.Restructuring expenses were $3.2 million for the second quarter ended June 30, 2023. The company did not record a restructuring expense for the second quarter ended June 30, 2022. The increase relates to $2.3 million of severance and related costs and $0.9 million of impairment charges related to laboratory equipment that have been classified as held for sale.For the second quarter ended June 30, 2023, net loss was $28.2 million, or basic and diluted net loss per share of $0.46. Net loss was $25.2 million for the same period in 2022, or basic and diluted net loss per share of $0.46.Surface projects that current cash and cash equivalents are sufficient to fund the company through 2023.About SRF388SRF388 is a fully human anti-IL-27 antibody designed to inhibit the activity of this immunosuppressive cytokine. Surface has identified particular tumor types, including liver and lung cancer, where IL-27 appears to play an important role in the immunosuppressive tumor microenvironment and may contribute to resistance to treatment with checkpoint inhibitors. SRF388 targets the rate-limiting p28 subunit of IL-27, and preclinical studies have shown that treatment with SRF388 blocks the immunosuppressive biologic effects of IL-27, resulting in immune cell activation in combination with other cancer therapies including anti-PD-1 therapy, as well as potent anti-tumor effects as a monotherapy. Furthermore, Surface has identified a potential biomarker associated with IL-27 that may be useful in helping to identify patients most likely to respond to SRF388. In November 2020, Surface announced that SRF388 was granted Orphan Drug designation and Fast Track designation for the treatment of refractory hepatocellular carcinoma from the United States Food and Drug Administration.About SRF114SRF114 is a fully human, afucosylated anti-CCR8 antibody designed to preferentially deplete CCR8+ Treg cells within the tumor microenvironment. In preclinical studies, Surface has shown that SRF114 induces antibody-dependent cellular cytotoxicity (ADCC) and/or antibody-dependent cellular phagocytosis (ADCP) pathways to deplete intratumoral Treg cells. In addition, SRF114 reduced tumor growth in murine models. These findings support the advancement of SRF114 as a therapeutic candidate that holds the potential to drive anti-tumor immunity in patients.About Surface OncologySurface is an immuno-oncology company developing next-generation antibody therapies focused on the tumor microenvironment. Its pipeline includes two wholly-owned programs; SRF388, a Phase 2 program which targets IL-27, and SRF114, a Phase 1 program, which selectively depletes regulatory T cells in the tumor microenvironment via targeting CCR8. In addition, Surface has two partnerships with major pharmaceutical companies: a collaboration with Novartis targeting CD73 (NZV930; Phase 1) and a collaboration with GlaxoSmithKline targeting PVRIG (GSK4381562, formerly SRF813; Phase 1). Surface’s novel, investigational cancer immunotherapies are designed to achieve a clinically meaningful and sustained anti-tumor response and may be used alone or in combination with other therapies. For more information, please visit www.surfaceoncology.com.Forward-Looking Statements This communication relates to the proposed transaction pursuant to the terms of the Agreement and Plan of Merger, dated June 15, 2023, by and among Coherus BioSciences, Inc. (Coherus), Crimson Merger Sub I, Inc. (Merger Sub I), Crimson Merger Sub II, LLC (Merger Sub II), and Surface Oncology, Inc. (Surface). This communication includes express or implied 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 (the Exchange Act), about the proposed transaction between Coherus and Surface and the operations of the combined company that involve risks and uncertainties relating to future events and the future performance of Coherus and Surface. Actual events or results may differ materially from these forward-looking statements. Words such as “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “future,” “opportunity,” “will likely result,” “target,” variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding: the business combination and related matters, including, but not limited to, satisfaction of closing conditions to the proposed transaction, prospective performance and opportunities with respect to Coherus, Surface or the combined company, post-closing operations and the outlook for the companies’ businesses; prospective developments or results in the pipelines of Coherus, Surface or the combined company and expansion of Coherus’ I-O franchise; the prospects for approval of toripalimab; Coherus’, Surface’s or the combined company’s targets, plans, objectives or goals for future operations, including those related to Coherus’ and Surface’s product candidates, research and development, product candidate introductions and product candidate approvals as well as cooperation in relation thereto; projections of or targets for revenues, costs and other financial measures; future economic performance; and the assumptions underlying or relating to such statements. These statements are based on Coherus’ and Surface’s current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. A number of important factors, including those described in this communication, could cause actual results to differ materially from those contemplated in any forward-looking statements. Factors that may affect future results and may cause these forward-looking statements to be inaccurate include, without limitation: uncertainties as to the timing for completion of the proposed transaction; uncertainties as to Surface’s ability to obtain the approval of Surface’s shareholders required to consummate the proposed transaction; the possibility that competing offers will be made by third parties; the occurrence of events that may give rise to a right of one or both of Coherus and Surface to terminate the merger agreement; the possibility that various closing conditions for the proposed transaction may not be satisfied or waived on a timely basis or at all, including the possibility that a governmental entity or regulatory authority may prohibit, delay, or refuse to grant approval, if required, for the consummation of the proposed transaction (or only grant approval subject to adverse conditions or limitations); the difficulty of predicting the timing or outcome of consents or regulatory approvals or actions, if any; the possibility that the proposed transaction may not be completed in the time frame expected by Coherus and Surface, or at all; the risk that Coherus and Surface may not realize the anticipated benefits of the proposed transaction in the time frame expected, or at all; the effects of the proposed transaction on relationships with Coherus’ or Surface’s employees, business or collaboration partners or governmental entities; the ability to retain and hire key personnel; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; significant or unexpected costs, charges or expenses resulting from the proposed transaction; the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of the combined business after the consummation of the proposed transaction; potential negative effects related to this announcement or the consummation of the proposed transaction on the market price of Coherus’ or Surface’s common stock and/or Coherus’ or Surface’s operating or financial results; the difficulty of predicting the timing or outcome of regulatory approvals or actions; the risks that holders of the CVRs will not receive payments in respect of the CVRs; uncertainties as to the long-term value of Coherus’ common stock, including the dilution caused by Coherus’ issuance of additional shares of common stock in connection with the proposed transaction; unknown liabilities related to Coherus or Surface; the nature, cost and outcome of any litigation and other legal proceedings involving Coherus, Surface or their respective directors, including any legal proceedings related to the proposed transaction; risks related to global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations; potential delays or failures related to research and/or development of Coherus’ or Surface’s programs or product candidates; risks related to any loss of Coherus’ or Surface’s patents or other intellectual property rights; any interruptions of the supply chain for raw materials or manufacturing for Coherus or Surface’s product candidates, the nature, timing, cost and possible success and therapeutic applications of product candidates being developed by Coherus, Surface and/or their respective collaborators or licensees; the extent to which the results from the research and development programs conducted by Coherus, Surface, and/or their respective collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; uncertainty of the utilization, market acceptance, and commercial success of Coherus or Surface’s product candidates, and the impact of studies (whether conducted by Coherus, Surface or others and whether mandated or voluntary) on any of the foregoing; unexpected breaches or terminations with respect to Coherus’ or Surface’s material contracts or arrangements; risks related to competition for Coherus’ or Surface’s product candidates; Coherus’ or Surface’s ability to successfully develop or commercialize Coherus’ or Surface’s product candidates; Coherus’, Surface’s, and their collaborators’ abilities to continue to conduct current and future developmental, preclinical and clinical programs; potential exposure to legal proceedings and investigations; risks related to changes in governmental laws and related interpretation thereof, including on reimbursement, intellectual property protection and regulatory controls on testing, approval, manufacturing, development or commercialization of any of Coherus’ or Surface’s product candidates; unexpected increases in costs and expenses with respect to the potential transaction or Coherus’ or Surface’s business or operations; and risks and uncertainties related to epidemics, pandemics or other public health crises and their impact on Coherus’ and Surface’s respective businesses, operations, supply chain, patient enrollment and retention, preclinical and clinical trials, strategy, goals and anticipated milestones. While the foregoing list of factors presented here is considered representative, no list should be considered to be a complete statement of all potential risks and uncertainties. There can be no assurance that the proposed transaction or any other transaction described above will in fact be consummated in the manner described or at all. A more complete description of these and other material risks can be found in Coherus’ and Surface’s respective filings with the SEC, including each of their Annual Reports on Form 10-K for the year ended December 31, 2022, subsequent Quarterly Reports on Form 10-Q and other documents that may be filed from time to time with the SEC, as well as the Registration Statement on Form S-4 which includes the proxy statement of Surface that also constitutes the prospectus of Coherus, which proxy statement/prospectus was mailed to Surface’s stockholders on or about July 26, 2023. Coherus and Surface also plan to file other relevant documents with the SEC regarding the proposed transaction. Any forward-looking statements speak only as of the date of this communication and are made based on the current beliefs and judgments of Coherus’ and Surface’s management, and the reader is cautioned not to rely on any forward-looking statements made by Coherus or Surface. Unless required by law, neither Coherus nor Surface is under no duty and undertakes no obligation to update or revise any forward-looking statement after the distribution of this document, including without limitation any financial projection or guidance, whether as a result of new information, future events or otherwise.Selected Financial Information (In thousands, except share and per share amounts) (Unaudited) Three months ended June 30, Six months ended June 30,  2023   2022   2023   2022 License-related revenue$—  $—  $—  $30,000 Operating expenses:       Research and development 13,831   18,198   27,608   34,822 General and administrative 8,576   6,426   14,460   12,967 Restructuring charges 3,234   —   3,234   — Total operating expenses 25,641   24,624   45,302   47,789 Loss from operations (25,641)  (24,624)  (45,302)  (17,789)Interest and other income (expense), net (2,551)  (589)  (2,631)  (1,225)Net loss (28,192)  (25,213)  (47,933)  (19,014)Net loss per share — basic and diluted$(0.46) $(0.46) $(0.79) $(0.37)Weighted average common shares outstanding — basic and diluted 60,717,899   54,654,822   60,673,195   51,647,148 Selected Balance Sheet ItemsJune 30, 2023 December 31, 2022Cash, cash equivalents and marketable securities$56,258 $124,823Total assets 66,006  159,910Accounts payable and accrued expenses 7,340  10,470Total stockholders’ equity 49,178  93,403CONTACT: Contact Jessica Fees Chief Financial Officer [email protected]

GlobeNewswire

Surface Oncology Reports Financial Results and Corporate Highlights for Second Quarter 2023

https://finance.yahoo.com/news/surface-oncology-reports-financial-results-110000268.html

16306db7-cfc4-35e8-be57-1d821f53108f

SURF

Surface Oncology, Inc.Urges Stockholders to Vote Promptly to Ensure Their Shares are Represented at the September 7th Special MeetingCAMBRIDGE, Mass., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Surface Oncology, Inc. (Nasdaq: SURF) (“Surface”), a clinical-stage immuno-oncology company developing next-generation immunotherapies that target the tumor microenvironment, today announced that both Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”) have recommended Surface stockholders vote “FOR” the adoption of Surface’s merger agreement (the “merger agreement”) with Coherus BioSciences, Inc. (Nasdaq: CHRS) (“Coherus”).ISS and Glass Lewis are the leading independent, third-party proxy advisors to thousands of institutional investors and pension funds. Both advisory firms believe the proposed adoption of the merger agreement presents the greatest opportunity for stockholders of Surface to realize value.Proposed Merger of Surface Oncology and Coherus BioSciencesAs announced on June 16, 2023, the proposed mergers contemplated by the merger agreement will strengthen Coherus’ pipeline with global rights to two innovative, competitively positioned, clinical-stage assets: SRF388, the only IL-27 targeted antibody in clinical development which has demonstrated activity as a monotherapy and in combination with checkpoint inhibitors; and SRF114, a high affinity, fully human antibody demonstrated to specifically bind to CCR8.   SRF388 and SRF114 have potential as monotherapy and as combination treatments with other immuno-oncology agents, including Coherus’ toripalimab.Surface anticipates it will have net cash of $20 million to $25 million at the closing of the proposed mergers. Should Surface stockholders fail to approve the adoption of merger agreement, Surface anticipates its remaining cash and cash equivalents would provide runway through the end of 2023 and the board of directors of Surface (the “Surface board of directors”) would pursue viable strategic alternatives, including bankruptcy or dissolution proceedings.Story continues“We believe the proposed merger offers a unique and critical opportunity for Surface stockholders--the benefits are clear,” commented Rob Ross, MD, President and Chief Executive Officer. “The stock for stock transaction, valued at up to $65 million when announced, represents an approximate three-fold premium over our anticipated net cash at closing. Shareholders will also receive CVRs based on potential future payments for previously partnered assets and for potential ex-US licensing.”The Surface board of directors unanimously recommends that all stockholders vote FOR the adoption of the merger agreement.Special Meeting of Surface StockholdersSurface has scheduled a Special Meeting of Stockholders (the “Special Meeting”) to approve the adoption of the merger agreement on September 7, 2023, at 10:00 a.m., Eastern Time.Since approval of the adoption of the merger agreement requires support by at least a majority of Surface’s outstanding common stock, failure to vote will have the same effect as a vote against the adoption of the merger agreement. Surface stockholders seeking more information on how to vote may contact Surface’s proxy solicitor, Innisfree M&A Incorporated, at +1 (877) 717-3904 (toll-free from the U.S. and Canada) or at +1 (412) 232-3651 (from other countries).About SRF388SRF388 is a fully human anti-IL-27 antibody designed to inhibit the activity of this immunosuppressive cytokine. Surface has identified particular tumor types, including liver and lung cancer, where IL-27 appears to play an important role in the immunosuppressive tumor microenvironment and may contribute to resistance to treatment with checkpoint inhibitors. SRF388 targets the rate-limiting p28 subunit of IL-27, and preclinical studies have shown that treatment with SRF388 blocks the immunosuppressive biologic effects of IL-27, resulting in immune cell activation in combination with other cancer therapies including anti-PD-1 therapy, as well as potent anti-tumor effects as a monotherapy. Furthermore, Surface has identified a potential biomarker associated with IL-27 that may be useful in helping to identify patients most likely to respond to SRF388. In November 2020, Surface announced that SRF388 was granted Orphan Drug designation and Fast Track designation for the treatment of refractory hepatocellular carcinoma from the United States Food and Drug Administration.About SRF114SRF114 is a fully human, afucosylated anti-CCR8 antibody designed to preferentially deplete CCR8+ Treg cells within the tumor microenvironment. In preclinical studies, Surface has shown that SRF114 induces antibody-dependent cellular cytotoxicity (ADCC) and/or antibody-dependent cellular phagocytosis (ADCP) pathways to deplete intratumoral Treg cells. In addition, SRF114 reduced tumor growth in murine models. These findings support the advancement of SRF114 as a therapeutic candidate that holds the potential to drive anti-tumor immunity in patients.About Surface OncologySurface is an immuno-oncology company developing next-generation antibody therapies focused on the tumor microenvironment. Its pipeline includes two wholly-owned programs; SRF388, a Phase 2 program which targets IL-27, and SRF114, a Phase 1 program, which selectively depletes regulatory T cells in the tumor microenvironment via targeting CCR8. In addition, Surface has two partnerships with major pharmaceutical companies: a collaboration with Novartis targeting CD73 (NZV930; Phase 1) and a collaboration with GlaxoSmithKline targeting PVRIG (GSK4381562, formerly SRF813; Phase 1). Surface’s novel, investigational cancer immunotherapies are designed to achieve a clinically meaningful and sustained anti-tumor response and may be used alone or in combination with other therapies. For more information, please visit www.surfaceoncology.com.Forward-Looking Statements This communication relates to the proposed transaction pursuant to the terms of the Agreement and Plan of Merger, dated June 15, 2023, by and among Coherus, Crimson Merger Sub I, Inc. (“Merger Sub I”), Crimson Merger Sub II, LLC (“Merger Sub II”), and Surface. This communication includes includes express or implied forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended about the proposed transaction between Coherus and Surface and the operations of the combined company that involve risks and uncertainties relating to future events and the future performance of Surface and Coherus. Actual events or results may differ materially from these forward-looking statements. Words such as “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “future,” “opportunity,” “will likely result,” “target,” variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding: the proposed transaction and related matters, including, but not limited to, satisfaction of closing conditions to the proposed transaction, prospective performance and opportunities with respect to Surface, Coherus or the combined company, post-closing operations and the outlook for the companies’ businesses; prospective developments or results in the pipelines of Coherus, Surface or the combined company and expansion of Coherus’ I-O franchise; the prospects for approval of toripalimab; Surface’s, Coherus’ or the combined company’s targets, plans, objectives or goals for future operations, including those related to Surface’s and Coherus’ product candidates, research and development, product candidate introductions and product candidate approvals as well as cooperation in relation thereto; projections of or targets for revenues, costs, and other financial measures; future economic performance and the assumptions underlying or relating to such statements. These statements are based on Surface’s and Coherus’ current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. A number of important factors, including those described in this communication, could cause actual results to differ materially from those contemplated in any forward-looking statements. Factors that may affect future results and may cause these forward-looking statements to be inaccurate include, without limitation: uncertainties as to the timing for completion of the proposed transaction; uncertainties as to Surface’s ability to obtain the approval of Surface’s stockholders required to consummate the proposed transaction; the occurrence of events that may give rise to a right of one or both of Surface and Coherus to terminate the merger agreement; the possibility that various closing conditions for the proposed transaction may not be satisfied or waived on a timely basis or at all, including the possibility that a governmental entity or regulatory authority may prohibit, delay, or refuse to grant approval, if required, for the consummation of the proposed transaction (or only grant approval subject to adverse conditions or limitations); the difficulty of predicting the timing or outcome of consents or regulatory approvals or actions, if any; the possibility that the proposed transaction may not be completed in the time frame expected by Surface and Coherus, or at all; the risk that Surface and Coherus may not realize the anticipated benefits of the proposed transaction in the time frame expected, or at all; the effects of the proposed transaction on relationships with Surface’s or Coherus’ employees, business or collaboration partners or governmental entities; the ability to retain and hire key personnel; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; significant or unexpected costs, charges or expenses resulting from the proposed transaction; the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of the combined business after the consummation of the proposed transaction; potential negative effects related to this announcement or the consummation of the proposed transaction on the market price of Surface’s or Coherus’ common stock and/or Surface’s or Coherus’ operating or financial results; the difficulty of predicting the timing or outcome of regulatory approvals or actions; the risks that holders of the contingent value rights (“CVRs”) will not receive payments in respect of the CVRs; uncertainties as to the long-term value of Coherus’ common stock, including the dilution caused by Coherus’ issuance of additional shares of common stock in connection with the proposed transaction; unknown liabilities related to Surface or Coherus; the nature, cost and outcome of any litigation and other legal proceedings involving Surface, Coherus or their respective directors, including any legal proceedings related to the proposed transaction; risks related to global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations; potential delays or failures related to research and/or development of Surface’s or Coherus’ programs or product candidates; risks related to any loss of Surface’s or Coherus’ patents or other intellectual property rights; any interruptions of the supply chain for raw materials or manufacturing for Surface’s or Coherus’ product candidates, the nature, timing, cost and possible success and therapeutic applications of product candidates being developed by Surface, Coherus and/or their respective collaborators or licensees; the extent to which the results from the research and development programs conducted by Surface, Coherus, and/or their respective collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; uncertainty of the utilization, market acceptance, and commercial success of Surface’s or Coherus’ product candidates, and the impact of studies (whether conducted by Surface, Coherus or others and whether mandated or voluntary) on any of the foregoing; unexpected breaches or terminations with respect to Surface’s or Coherus’ material contracts or arrangements; risks related to competition for Surface’s or Coherus’ product candidates; Surface’s or Coherus’ ability to successfully develop or commercialize Surface’s or Coherus’ product candidates; Surface’s, Coherus’, and their collaborators’ abilities to continue to conduct current and future developmental, preclinical and clinical programs; potential exposure to legal proceedings and investigations; risks related to changes in governmental laws and related interpretation thereof, including on reimbursement, intellectual property protection and regulatory controls on testing, approval, manufacturing, development or commercialization of any of Surface’s or Coherus’ product candidates; unexpected increases in costs and expenses with respect to the potential transaction or Surface’s or Coherus’ business or operations; and risks and uncertainties related to epidemics, pandemics or other public health crises and their impact on Surface’s and Coherus’ respective businesses, operations, supply chain, patient enrollment and retention, preclinical and clinical trials, strategy, goals and anticipated milestones. While the foregoing list of factors presented here is considered representative, no list should be considered to be a complete statement of all potential risks and uncertainties. There can be no assurance that the mergers or any other transaction described above will in fact be consummated in the manner described or at all. A more complete description of these and other material risks can be found in Surface’s and Coherus’ respective filings with the SEC, including each of their Annual Reports on Form 10-K for the year ended December 31, 2022, subsequent Quarterly Reports on Form 10-Q and other documents that may be filed from time to time with the SEC, as well as the Registration Statement on Form S-4, as amended, which includes the proxy statement of Surface that also constitutes the prospectus of Coherus, which proxy statement/prospectus was mailed to Surface’s stockholders on or about July 26, 2023. Surface and Coherus also plan to file other relevant documents with the SEC regarding the proposed transaction. Any forward-looking statements speak only as of the date of this communication and are made based on the current beliefs and judgments of Surface’s and Coherus’ management, and the reader is cautioned not to rely on any forward-looking statements made by Surface or Coherus. Unless required by law, neither Surface nor Coherus is under any duty and undertakes no obligation to update or revise any forward-looking statement after the distribution of this document, including without limitation any financial projection or guidance, whether as a result of new information, future events or otherwise.No Offer or SolicitationThis communication is not intended to and shall not constitute an offer to subscribe for, buy or sell or the solicitation of an offer to subscribe for, buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of, or offer to sell or buy, securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This communication is for informational purposes only. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, and otherwise in accordance with applicable law.Additional Information and Where to Find ItIn connection with the proposed transaction, Coherus and Surface filed a Registration Statement on Form S-4 with the SEC on July 7, 2023 (the “Initial Registration Statement”), as amended by Amendment No. 1 to the Initial Registration Statement filed on July 24, 2023 (together with the Initial Registration Statement, the “Registration Statement”). The Registration Statement was declared effective by the SEC on July 26, 2023. The Registration Statement includes a document that serves as a prospectus of Coherus and a proxy statement/prospectus of Surface, and each party may also file other documents regarding the proposed transaction with the SEC.INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN, IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION, RELATED MATTERS AND THE PARTIES TO THE PROPOSED TRANSACTION.You may obtain a free copy of the Registration Statement, proxy statement/prospectus and other relevant documents (if and when they become available) that are or will be filed with the SEC for free at the SEC’s website at www.sec.gov. Copies of the documents filed with the SEC by Surface will be available free of charge on Surface’s website at https://www.investors.surfaceoncology.com/financial-information/sec-filings or by contacting Surface’s Investor Relations Department at [email protected]. Copies of the documents filed with the SEC by Coherus will be available free of charge on Coherus’ website at https://investors.coherus.com/financial-information/sec-filings or by contacting Coherus’ Investor Relations Department at [email protected] in the SolicitationCoherus, Surface and certain of their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of Coherus, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Coherus’ proxy statement for its 2023 Annual General Meeting, which was filed with the SEC on April 17, 2023, the Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 6, 2023, subsequent Quarterly Reports on Form 10-Q and other documents that may be filed from time to time with the SEC. Information about the directors and executive officers of Surface, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Surface’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 9, 2023 and amended on May 1, 2023, subsequent Quarterly Reports on Form 10-Q and other documents that may be filed from time to time with the SEC. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the proxy statement/prospectus included in the Registration Statement, and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Security holders, potential investors and other readers should read the proxy statement/prospectus, included in the Registration Statement, carefully before making any voting or investment decision. You may obtain free copies of these documents from Surface or Coherus using the sources indicated above.ContactJessica FeesChief Financial [email protected]

GlobeNewswire

Surface Oncology Announces ISS and Glass Lewis Both Recommend Stockholders Vote “FOR” the Proposed Merger with Coherus BioSciences

https://finance.yahoo.com/news/surface-oncology-announces-iss-glass-200100830.html

c72ff222-7a4e-3bad-92a6-06327dabbfc3

SURG

SurgePays, Inc.Historic Net Income and Earnings Per ShareNet income of $6.0 millionRevenue of $35.9 millionEPS of $0.42$6.4 million EBITDAGross profit margin increased to 27.9%BARTLETT, Tenn., Aug. 10, 2023 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecom company focused on the underbanked and underserved, today announced its financial results for the second quarter ended June 30, 2023.Second Quarter 2023 Financial HighlightsNet income of $6.0 million in the second quarter 2023, compared to a net loss of $(1.0) million in the second quarter 2022.Revenue of $35.9 million in the second quarter 2023, an increase of 28% over the second quarter 2022.Gross profit of $10.0 million in the second quarter 2023, an increase of $7.8 million over the second quarter 2022. Gross profit margin expanded to 27.9% in the second quarter 2023.Second quarter 2023 EBITDA of $6.4 million compared to a second quarter 2022 EBITDA loss of $(86) thousand.Management CommentaryCommenting on the quarterly results, Chairman and CEO Brian Cox said, “During the second quarter, we continued our multi-year strategy that yielded the best and most profitable quarter in the Company’s history. Our increased efficiencies and margin improvement created $6.0 million in net income, putting us over $10 million in net income for 2023. Becoming profitable and self-reliant enables us to make disciplined business decisions based on goals and modeling what we want to accomplish, not based on raising cash for survival. Most know that I do not lead the Company by 90-day cycles, but I am pleased to post back-to-back quarters in the black, knowing we have been focused inward to prepare for our real growth opportunity in the upcoming years.“The proven business case for convenience stores is over a century old, so aligning our sales interests with these constant points of distribution positions us for stability, longevity, and tremendous growth both in reach and the products and services offered. We have been highly focused on utilizing our unique suite of underbanked products and services to grow our footprint in owner-operated convenience stores. We are testing customer-facing LCD screens at the register to promote our products, activate wireless subscribers and create customer engagement. This next step advancement is part of our strategy to solidify SurgePays as an innovative market leader in our space.Story continues“Throughout the second quarter, we continued to scale growth and increase points of distribution, subscribers, and cash flow. Our development, sales intake, onboard training, compliance, and support teams have all been diligently working to originate in-store ACP wireless subscriber activations. We are utilizing access to this beneficial assistance program as the enticing catalyst to build what is now a pipeline of over 25,000 locations to be onboarded with a staging target of less than 12 months. We believe this onboarding will create one of the largest direct distribution networks of underbanked products and services in the country.“New partnerships have been a recent highlight in our growth strategy. We partnered with ParichuteConnect, a social impact investor who looks to use their investment dollars to effect social improvements. This collaboration allows us the opportunity to provide ParichuteConnect's representatives with the resources necessary to increase awareness about ACP in state or city school systems, community service organizations, and public service organizations. Recently we partnered with LeadEx Solutions, whose proprietary banking software provides SurgePays integrated access to place full-screen ads on ATMs during a transaction and enable the customer to opt-in to the ACP enrollment process. These partnerships are a great opportunity for us to expand our ACP subscriber base and grow our network by partnering with synergistic companies, nonprofits, and governmental organizations.“Our business case is strong and profitable. The difficult macro-environment is creating acceleration opportunities for SurgePays. We are primed to maximize these opportunities to drive revenue and substantially higher profitability through our expanded convenience store distribution and new partners. We are now well positioned to grow our prepaid wireless and financial products revenue and further build long-term value for our shareholders,” concluded Cox.Management Discussion & Analysis SurgePays is a technology and telecom company focused on the underbanked and underserved communities. SurgePhone and Torch Wireless provide subsidized mobile broadband to over 250,000 low-income subscribers nationwide. The SurgePays fintech platform empowers clerks at thousands of convenience stores to provide a suite of prepaid wireless and financial products to underbanked customers.During the second quarter ended June 30, 2023, overall revenue increased by $7.9 million or 28% as compared to the second quarter ended June 30, 2022. The increase was primarily due to revenues related to providing mobile broadband and wireless service to low-income subscribers through the Affordable Connectivity Program (“ACP”).Operating income improved overall to $6.2 million in the second quarter of 2023, compared to a loss of $1.0 million in the second quarter of 2022.Net income in the second quarter of 2023 was $6.0 million compared to a net loss of $(1.0) million in the second quarter of 2022. EBITDA increased to $6.4 million in the second quarter compared to ($86) thousand in the second quarter of 2022.Second Quarter 2023 Results Conference CallSurgePays management will host a webcast at 5 p.m. ET / 2 p.m. PT to discuss these results.The live webcast of the call can be accessed at 2Q23 Webcast Link and on the company’s investor relations website at ir.surgepays.com.Telephone access to the call will be available at 1-844-481-2822 (in the U.S.) or by dialing 1-412-317-0681 (outside U.S.).A telephone replay will be available approximately one hour following completion of the call through Thursday, August 24, 2023. To access the replay, please dial 877-344-7529 (in the U.S.) or 412-317-0088 (outside U.S.). Enter Conference ID #3929073.About SurgePays, Inc.SurgePays, Inc. is a technology and telecom company focused on the underbanked and underserved communities. SurgePhone and Torch Wireless provide subsidized mobile broadband to over 250,000 low-income subscribers nationwide. SurgePays fintech platform empowers clerks at over 8,000 convenience stores to provide a suite of prepaid wireless and financial products to underbanked customers. Please visit SurgePays.com for more information.About Non-GAAP Financial MeasuresThe Company believes that EBITDA (earnings before interest, taxes, depreciation and amortization) is useful to investors because it is commonly used to evaluate companies on the basis of operating performance and leverage.EBITDA is not intended to represent cash flows for the periods presented, nor have they been presented as an alternative to operating income or as an indicator of operating performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In accordance with SEC Regulation G, the non-GAAP measurements in this press release have been reconciled to the nearest GAAP measurement, which can be viewed under the heading “Reconciliation of Net Income (loss) from Operations to EBITDA” in the financial tables included in this press release.Cautionary Note Regarding Forward-Looking StatementsThis press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.Although we believe that the expectations reflected in these forward-looking statements such as regarding our market potential along with the statements under the heading Business Outlook are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; and our predictions about our industry. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.Investor RelationsBrian M. Prenoveau, CFAMZ Group – MZ North [email protected] 561 489 5315SurgePays, Inc. and SubsidiariesConsolidated Balance Sheets         June 30, 2023  December 31, 2022   (Unaudited)  (Audited)        Assets                 Current Assets        Cash $5,188,098  $7,035,654 Accounts receivable - net  10,289,379   9,230,365 Inventory  18,086,916   11,186,242 Prepaids  167,655   111,524 Total Current Assets  33,732,048   27,563,785          Property and equipment - net  502,607   643,373          Other Assets        Note receivable  176,851   176,851 Intangibles - net  2,453,224   2,779,977 Internal use software development costs - net  603,954   387,180 Goodwill  1,666,782   1,666,782 Investment in CenterCom  397,948   354,206 Operating lease - right of use asset - net  409,858   431,352 Total Other Assets  5,708,617   5,796,348          Total Assets $39,943,272  $34,003,506          Liabilities and Stockholders’ Equity                 Current Liabilities        Accounts payable and accrued expenses $5,423,313  $5,784,374 Accounts payable and accrued expenses - related party  467,899   1,728,721 Installment sale liability  11,349,440   13,018,184 Deferred revenue  43,200   243,110 Operating lease liability  41,290   39,490 Notes payable - related parties  1,108,150   1,108,150 Notes payable  42,243   1,542,033 Total Current Liabilities  18,475,535   23,464,062          Long Term Liabilities        Note payable  31,970   53,134 Notes payable - related parties  4,026,413   4,493,798 Notes payable - SBA government  465,633   474,846          Operating lease liability  378,284   399,413 Total Long Term Liabilities  4,902,300   5,421,191          Total Liabilities  23,377,835   28,885,253          Commitments and Contingencies (Note 8)                 Stockholders’ Equity        Common stock, $0.001 par value, 500,000,000 shares authorized 14,234,655 and 14,116,832 shares issued and outstanding, respectively  14,286   14,117 Additional paid-in capital  41,625,010   40,780,707 Accumulated deficit  (25,291,773)  (35,804,106)Stockholders’ equity  16,347,523   4,990,718 Non-controlling interest  217,914   127,535 Total Stockholders’ Equity  16,565,437   5,118,253          Total Liabilities and Stockholders’ Equity $39,943,272  $34,003,506  SurgePays, Inc. and SubsidiariesConsolidated Statements of Operations(Unaudited)               For the Three Months Ended June 30,  For the Six Months Ended June 30,   2023  2022  2023  2022              Revenues $35,886,433  $28,005,144  $70,662,876  $49,146,515                  Costs and expenses                Cost of revenue  25,860,705   25,814,153   52,942,665   44,321,894 General and administrative expenses  3,823,227   3,038,529   6,812,648   6,722,310 Total costs and expenses  29,683,932   28,852,682   59,755,313   51,044,204                  Income (loss) from operations  6,202,501   (847,538)  10,907,563   (1,897,689)                 Other income (expense)                Interest expense  (156,267)  (566,999)  (348,593)  (736,644)Gain (loss) on investment in CenterCom  10,713   35,519   43,742   10,336 Amortization of debt discount  -   (37,068)  -   (37,068)Gain on forgiveness of PPP loan - government  -   524,143   -   524,143 Total other income (expense) - net  (145,554)  (44,405)  (304,851)  (239,233)                 Net income (loss) including non-controlling interest  6,056,947   (891,943)  10,602,712   (2,136,922)                 Non-controlling interest  90,955   81,094   90,379   48,449                  Net income (loss) available to common stockholders $5,965,992  $(973,037) $10,512,333  $(2,185,371)                 Earnings (loss) per share - attributable to common stockholders                Basic $0.42  $(0.08) $0.74  $(0.18)Diluted $0.40  $(0.08) $0.71  $(0.18)                 Weighted average number of shares outstanding - attributable to common stockholders                Basic  14,191,083   12,268,669   14,154,163   12,166,817 Diluted  15,076,466   12,268,669   14,811,785   12,166,817  Reconciliation of Net Income (loss) from Operations to EBITDA  Three months endedThree months endedThree months endedThree months endedSix months endedSix months ended  June 30, 2023June 30, 2022March 31, 2023March 31, 2022June 30, 2023June 30, 2022 (unaudited)(unaudited)(unaudited)(unaudited)(unaudited)(unaudited)Revenue $35,866,433$28,005,144 $34,796,443$21,141,371 $70,662,876$49,146,515 Cost of revenue (exclusive of depreciation and amortization)  25,860,705 25,814,153  27,081,960$18,507,741  52,942,665 44,321,894 General and administrative expenses  3,823,227 3,038,529  2,989,421$3,683,781  6,812,648 6,722,310 Gain (loss) from operations $6,182,501$(847,538)$4,725,062$(1,050,151)$10,907,563$(1,897,689)Net gain (loss) to common stockholders  5,965,992 (973,037) 4,546,341$(1,212,334) 10,512,333 (2,185,371)Interest expense  156,267 566,999  192,326$169,645  348,593 736,644 Depreciation and Amortization  276,833 238,971  276,710$195,020  553,543 433,991 EBITDA $6,399,092 (167,067)$5,015,377$(847,669)$11,414,469 (1,014,736)              

GlobeNewswire

SurgePays Announces Record Second Quarter 2023 Financial Results

https://finance.yahoo.com/news/surgepays-announces-record-second-quarter-200100115.html

5335b9fe-8ca7-314c-8513-be67431a055f

SURG

SurgePays, Inc. (NASDAQ:SURG), is not the largest company out there, but it saw a double-digit share price rise of over 10% in the past couple of months on the NASDAQCM. As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value. Is there still an opportunity here to buy? Today I will analyse the most recent data on SurgePays’s outlook and valuation to see if the opportunity still exists. View our latest analysis for SurgePays What Is SurgePays Worth?According to my price multiple model, which makes a comparison between the company's price-to-earnings ratio and the industry average, the stock price seems to be justfied. I’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 5.78x is currently trading slightly below its industry peers’ ratio of 6.74x, which means if you buy SurgePays today, you’d be paying a reasonable price for it. And if you believe SurgePays should be trading in this range, then there isn’t much room for the share price to grow beyond the levels of other industry peers over the long-term. Is there another opportunity to buy low in the future? Since SurgePays’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market.What does the future of SurgePays look like?earnings-and-revenue-growthFuture outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. In SurgePays' case, its earnings over the next year are expected to double, indicating an incredibly optimistic future ahead. This should lead to stronger cash flows, feeding into a higher share value.Story continuesWhat This Means For YouAre you a shareholder? It seems like the market has already priced in SURG’s positive outlook, with shares trading around industry price multiples. However, there are also other important factors which we haven’t considered today, such as the financial strength of the company. Have these factors changed since the last time you looked at SURG? Will you have enough conviction to buy should the price fluctuate below the industry PE ratio?Are you a potential investor? If you’ve been keeping an eye on SURG, now may not be the most advantageous time to buy, given it is trading around industry price multiples. However, the optimistic forecast is encouraging for SURG, which means it’s worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. Case in point: We've spotted 4 warning signs for SurgePays you should be mindful of and 1 of them is a bit concerning.If you are no longer interested in SurgePays, you can use our free platform to see our list of over 50 other stocks with a high growth potential.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is SurgePays, Inc. (NASDAQ:SURG) Potentially Undervalued?

https://finance.yahoo.com/news/surgepays-inc-nasdaq-surg-potentially-121604785.html

493e904a-30d3-375c-8b16-ef60c0759d97

SWAV

The healthcare sector has underperformed this year, with the Health Care Select Sector SPDR (NYSEARCA:XLV) down 1%. After a disappointing year-to-date performance, it’s time to consider some top healthcare stock picks. Notably, the sector has several secular tailwinds, like an aging global demographic that will accelerate healthcare spending.Healthcare is a sector that invests heavily in research and produces lots of innovation. After all, the world needs drugs and medical equipment for the various medical challenges that ail us. That’s why leading healthcare companies are a must-own for any diversified portfolio.While large pharmaceuticals enjoyed success in previous decades, they have several headwinds. They face upcoming patent cliffs and pressures from Medicare drug price negotiations in the U.S.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTherefore, for must-own healthcare stocks, it’s better to look elsewhere. Medical equipment is one area with a lot of growth potential. These three companies have innovative solutions and expanding total addressable markets.Shockwave Medical (SWAV)Nurse holding a tablet with icons representing different aspects of healthcare and healthcare data representing CANO stock.Source: metamorworks / ShutterstockDespite Shockwave Medical’s (NASDAQ:SWAV) decline since May 11, it’s one of my top healthcare stock picks. After the stock rallied in April on speculation about a possible Boston Scientific (NYSE:BSX) acquisition, it has come crashing down back to earth.In July, the Centers for Medicare & Medicaid Services decided not to increase the Medicare reimbursement rate for Shockwave products. The negative news led to a stock selloff.Despite the setback, Shockwave is in a prime position for growth. It offers intravascular lithotripsy (IVL) technology to treat calcified cardiovascular disease. Its devices help address hardened calcified plaque in arteries for patients with various heart conditions. Its technology helps to alleviate symptoms and sometimes avoid invasive interventions.These products improve cardiovascular patient outcomes, and the company is increasing its product range and expanding globally. Furthermore, its IVL solution faces limited competition with Abbott Laboratories (NYSE:ABT) products, not expected until 2026.Story continuesThat is why SWAV stock is a must-own healthcare stock. The adoption of IVL technology is driving growth, and the 49% year-over-year (YoY) revenue growth in the second quarter highlighted the robust demand. The fiscal year 2023 guidance forecasting 48% to 49% growth was equally impressive.Besides, the recent Neovasc acquisition enables Shockwave to expand into the refractory angina market. Currently, the Neovasc Reducer System is in trials for patients with coronary obstructive refractory angina.Lastly, in addition to the solid growth, Shockwave is highly profitable, achieving 86% gross margins in the second quarter. Despite heavy investments in its sales force expansion and growth opportunities, net income was also positive.TransMedics Group (TMDX)hands holding a red heart shape against blue background symbolizing healthSource: shutterstock.com/Anastasia ZagoruykoTransMedics Group (NASDAQ:TMDX) provides organ preservation technology and is a leader in normothermic machine perfusion. Its FDA-approved Organ Care System replicates the body’s physiologic conditions, increasing utilization of donor organs and improving post-transplant outcomes.Before the FDA approval of the OCS system, static cold storage was the standard method used in organ transportation. However, this approach exposed the organs to ischemia, a time-dependent injury due to the absence of oxygenated blood.The OCS system reduces ischemia and increases the time an organ can be outside the human body before transplant. Furthermore, it supports various diagnostic tests to assess the organ’s viability. As a result, the system is improving donor overall donor utilization rates and the use of marginal organs.Already, major transplant centers are adopting the OCS system. Plus, the system is gaining share from the standard cold storage systems. As a result, revenues are surging, with the company reporting revenue of $52.47 million in the second quarter of FY2023, representing 155% YoY growth.Notably, TransMedics achieved this solid growth pace within three years of the first OCS Heart system approval in April 2021. For the year, management expects 93% to 103% growth based on the revenue guidance range of $180 million to $190 million. These stellar numbers qualify TMDX stock for the top healthcare stock picks list.TransMedics OCS has a lot of growth runway. After launching the National OCS Program (NOP), it has removed significant barriers to adoption. Hospitals don’t need to worry about capital expenditure and training costs. In Q2 FY2023, U.S. revenues from NOP customers accounted for 95% of total revenue. As the NOP network scales, it will fuel growth over the coming decade.Insulet (PODD)image of the word diabetes surrounded by medical equipment.Source: Minerva Studio / Shutterstock.comBased on fundamental performance, Insulet (NASDAQ:PODD) is one of the top healthcare stock picks to own. It features in the Goldman Sachs Rule of 10 stock screen, having grown sales and net income by over 10% in the past two years, and is expected to continue the trend in the next three years.Insulet has enjoyed tremendous growth due to its participation in one of healthcare’s hottest areas — the diabetes market. The company sells insulin delivery systems to diabetes patients.Since May, PODD stock has come under immense pressure from speculation about the impact of GLP-1 drugs. The company sees the rise of weight loss drugs such as Wegovy and Mounjaro, produced by Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY), respectively, as a threat.However, Citi recently came to the defense of the stock, upgrading it to a Buy. The analyst stated the selloff due to GLP-1 concerns was overdone. Although they lowered the price target slightly, the new target of $265 represents over 25% upside as of this writing.The latest quarterly results support the analyst’s call. In the second quarter, Insulet’s Omnipod revenues increased 33% YoY to $380.5 million. What’s more, The U.S. grew faster than international, recording a 40.9% increase.And the company is implementing strategic initiatives to deliver growth over several years. For instance, it launched the Omnipod 5 in the second quarter in the U.K. In the medium term, more growth lies ahead as Omnipod 5 continues to disrupt the diabetes market.On the date of publication, Charles Munyi did not hold (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.Charles Munyi has extensive writing experience in various industries, including personal finance, insurance, technology, wealth management and stock investing. He has written for a wide variety of financial websites including Benzinga, The Balance and Investopedia.More From InvestorPlaceMusk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.ChatGPT IPO Could Shock the World, Make This Move Before the AnnouncementIt doesn’t matter if you have $500 or $5 million. Do this now.The post The 3 Most Promising Healthcare Stocks to Own Now appeared first on InvestorPlace.

InvestorPlace

The 3 Most Promising Healthcare Stocks to Own Now

https://finance.yahoo.com/news/3-most-promising-healthcare-stocks-220011510.html

a7b98948-4416-33a6-b6b4-eea8494eb56a

SWAV

Fred Alger Management, an investment management company, released its “Alger Small Cap Focus Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund underperformed the Russell 2000 Growth Index. The Consumer Discretionary and Energy sectors contributed to the fund’s relative performance in the quarter, while Information Technology and Industrials detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.Alger Small Cap Focus Fund highlighted stocks like Shockwave Medical, Inc. (NASDAQ:SWAV) in the second quarter 2023 investor letter.  Headquartered in Santa Clara, California, Shockwave Medical, Inc. (NASDAQ:SWAV) is a medical device company. On September 5, 2023, Shockwave Medical, Inc. (NASDAQ:SWAV) stock closed at $222.68 per share. One-month return of Shockwave Medical, Inc. (NASDAQ:SWAV) was -9.21%, and its shares lost 23.79% of their value over the last 52 weeks. Shockwave Medical, Inc. (NASDAQ:SWAV) has a market capitalization of $8.184 billion.Alger Small Cap Focus Fund made the following comment about Shockwave Medical, Inc. (NASDAQ:SWAV) in its Q2 2023 investor letter:"Shockwave Medical, Inc. (NASDAQ:SWAV) provides novel solutions for treating patients with peripheral and coronary artery diseases. Their Intravascular Lithotripsy (IVL) system delivers sonic pressure waves via a specialized catheter to crack calcium, allowing a safe and easy-to-use treatment that enables better patient results. During the period, the company reported solid fiscal first quarter results, with revenues and earnings exceeding analyst estimates. Better-than-expected revenues were driven by strength in all product segments, with the company seeing strong contributions from U.S. Coronary, U.S. Peripheral, and international markets. Further, management raised its fiscal 2023 revenue guidance higher than consensus estimates. noting continued international expansion in Japan, Germany. and China, along with the rollout of specialized catheters. Separately, there have been rumors that several large pharmaceutical companies have expressed interest in acquiring Shockwave, given their highly coveted interventional cardiology and peripheral vascular assets. As a result, shares contributed to performance."Story continueshealth, care, oncologyVILevi/Shutterstock.comShockwave Medical, Inc. (NASDAQ:SWAV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Shockwave Medical, Inc. (NASDAQ:SWAV) at the end of second quarter which was 28 in the previous quarter.We discussed Shockwave Medical, Inc. (NASDAQ:SWAV) in another article and shared Artisan Global Discovery Fund'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:10 Countries That Produce the Best Quality Leather in the World10 Biggest Social Media Companies In Asia25 Most Globalized Countries in the WorldDisclosure: None. This article is originally published at Insider Monkey.

Insider Monkey

Here’s Why Shockwave Medical (SWAV) Outperformed in Q2

https://finance.yahoo.com/news/why-shockwave-medical-swav-outperformed-071238798.html

b0ddb4a6-a41a-3e87-bfad-49b43694dc90

SWBI

American Outdoor Brands, Inc. AOUT reported first-quarter fiscal 2024 results, wherein both the top and bottom lines surpassed the Zacks Consensus Estimate. Both metrics beat estimates for the second straight quarter. Following the results, the stock increased 2% in the after-hours trading session on Sep 7.  AOUT is benefiting from an innovation strategy.Earnings & SalesIn the quarter under review, American Outdoor reported adjusted earnings of 1 cent per share, outshining the Zacks Consensus Estimate of a loss of 3 cents. The company’s adjusted earnings remained flat year over year.Quarterly net sales of $43.4 million outpaced the consensus estimate of $42 million. However, the metric declined 0.5% year over year primarily due to a decrease in shooting sports category sales.American Outdoor Brands, Inc. Price, Consensus and EPS SurpriseAmerican Outdoor Brands, Inc. price-consensus-eps-surprise-chart | American Outdoor Brands, Inc. QuoteOther FinancialsTotal operating expenses were $23.8 million, down 3.2% year over year.Adjusted EBITDAS were $1.1 million compared with $1.4 million reported in the year-ago quarter.Balance SheetAs of Jul 31, 2023, cash and cash equivalents totaled $18.7 million compared with $22 million in the year-ago period.Total current liabilities amounted to $29.2 million at the end of first-quarter fiscal 2024 compared with $23 million at the prior-year quarter end.The company currently has a Zacks Rank #3 (Hold).Key PicksSome better-ranked stocks in the Zacks Consumer Discretionary sector are:Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.5% on average. Shares of RCL have surged 115.2% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates rises of 54.5% and 180.3%, respectively, from the year-ago period’s levels.Trip.com Group Limited TCOM flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 147.9% on average. Shares of TCOM have increased 42.8% in the past year.The Zacks Consensus Estimate for TCOM’s 2023 sales and EPS suggests jumps of 104.9% and 537.9%, respectively, from the year-ago period’s levels.Skechers U.S.A., Inc. SKX sports a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 39.1% on average. Shares of SKX have increased 32.8% in the past year.The Zacks Consensus Estimate for SKX’s 2023 sales and EPS implies improvements of 8.7% and 42%, respectively, from the year-ago period’s levels.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 reportRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis ReportSkechers U.S.A., Inc. (SKX) : Free Stock Analysis ReportTrip.com Group Limited Sponsored ADR (TCOM) : Free Stock Analysis ReportAmerican Outdoor Brands, Inc. (AOUT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

American Outdoor (AOUT) Stock Up on Q1 Earnings & Sales Beat

https://finance.yahoo.com/news/american-outdoor-aout-stock-q1-143900785.html

c338c76a-cf42-3485-a78d-e8ad22ba4cec

SWBI

**↗️** [**Apple (AAPL)**](https://www.wsj.com/market-data/quotes/AAPL): The tech giant's stock edged higher, after the company shed nearly $190 billion in market value over the past two days. [The Wall Street Journal reported](https://www.Continue reading

The Wall Street Journal

Stocks to Watch Friday: Apple, Kroger, DocuSign, Block, AMC

https://finance.yahoo.com/m/553ffdc3-e7c6-33ca-9c6d-3be150d9f094/stocks-to-watch-friday-.html

553ffdc3-e7c6-33ca-9c6d-3be150d9f094

SWK

For Immediate ReleaseChicago, IL – September 7, 2023 – Today, Zacks Equity Research discusses Stanley Black & Decker SWK and Lincoln Electric LECO.Industry: Manufacturing ToolsLink: https://www.zacks.com/commentary/2145415/2-manufacturing-tools-stocks-to-watch-amid-industry-woesThe Zacks Manufacturing-Tools & Related Products industry is benefiting from improving supply chains, which indicate faster deliveries and easier availability of raw materials. Cost-control measures support the company's bottom line despite inflationary pressure. While manufacturing activities have been showing signs of improvement, it has remained in the contraction territory for the past several months, indicating a lower demand environment. This weighs on the industry's near-term prospects.Despite the dim outlook, Stanley Black & Decker and Lincoln Electric are poised for growth on the back of improving supply chains and an uptick in manufacturing activities.About the IndustryThe Zacks Manufacturing-Tools & Related Products industry comprises companies that develop and distribute hand and mechanics tools, hydraulic tools, engineered fastening systems, and heavy-lifting technology solutions. Arc-welding products, robotic-welding packages, fume-extraction equipment, oxy-fuel cutting equipment, plasma cutters, healthcare solutions, electronic security solutions and other products are also produced by some tool-makers.The highly advanced tools are used in industrial, commercial, oil & gas, mining, automotive and other industries. The providers of electronic security solutions cater to commercial, retailers, government, financial and healthcare markets. Talking about international operations, some industry players provide products and services to customers in North and South America, Japan, Europe, Canada, Asia and the Middle East.3 Trends Shaping the Future of the Manufacturing Tools IndustryPersistent Weakness in the Manufacturing Sector: Continued weakness in the manufacturing sector has been weighing on demand in the industry. Per the Institute for Supply Management (ISM) report, in August, the Manufacturing PMI (Purchasing Manager's Index) touched 47.6%, contracting for the 10th consecutive month. A figure less than 50% indicates a contraction in manufacturing activity. The New Orders Index remained in contraction territory at 46.8%, declining 0.5 percentage points from the figure recorded in July.Story continuesWhile the manufacturing sector remains in the contraction territory, it is showing signs of gradual improvement. The Manufacturing PMI has been steadily improving over the past few months. In August, the index increased 1.2 percentage points from the figure recorded in July. The uptick in manufacturing activities augurs well for the industry.Easing Supply Chain Disruptions: While supply-chain disruptions persist, especially related to the availability of electronic components, the situation has improved, as evident from the ISM report's Supplier Deliveries Index, which reflected faster deliveries for the 11th straight month in August. Easing supply chain issues should support manufacturing tools companies' growth in 2023. Cost-control measures support the margins of the industry participants despite inflationary pressure.Hefty Investments in Product Development: The industry participants constantly focus on innovation, product upgrades and development of new products to stay competitive in the market. While this bodes well for long-term growth, the hefty investments associated with it weigh on margins and profitability of these companies. Successive acquisitions to expand product portfolio, boost technological capabilities and extend geographical presence often leave these companies with a highly leveraged balance sheet.Zacks Industry Rank Indicates Dull ProspectsThe Zacks Manufacturing-Tools & Related Products industry, housed within the broader Zacks Industrial Products sector, currently carries a Zacks Industry Rank #185. This rank 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.The industry's positioning in the bottom 50% of the Zacks-ranked industries is a result of negative earnings outlook for the constituent companies in aggregate. The Zacks Consensus Estimate for the group's 2023 earnings per share has declined 52.1% over the past year.Despite the industry's dull near-term prospects, we will present a few stocks that you may want to hold in your portfolio. But before that, it's worth taking a look at the industry's stock market performance and current valuation.Industry Underperforms S&P 500 & SectorThe Zacks Manufacturing-Tools & Related Products industry has outperformed both the S&P 500 composite index and the sector in the past year.Over this period, the industry has rallied 21.4%, compared with the sector and the S&P 500 index's increase of 16.7% and 13.5%, respectively.Industry's Current ValuationOn the basis of forward P/E (F12M), which is a commonly used multiple for valuing manufacturing tools and related product stocks, the industry is currently trading at 19.43X compared with the S&P 500's 19.44X. It is above the sector's P/E (F12M) ratio of 16.76X.Over the past five years, the industry has traded as high as 25.05X, as low as 10.98X and at the median of 16.18X.2 Manufacturing Tool Stocks to Keep a Tab OnThe stocks mentioned below carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Stanley Black: Headquartered in New Britain, CT, Stanley Black manufactures tools (power and hand tools) and related accessories and engineered fastening systems, among other items. SWK's global cost-reduction program is expected to drive its bottom line and boost margins. In the first six months of 2023, the company generated pre-tax run rate savings of $460 million from the global cost-reduction program. It expects to generate run rate savings of $1 billion from this program in 2023.The Zacks Consensus Estimate for Stanley Black's 2023 earnings has been revised upward by 13.6% in the past 60 days. The stock has rallied 23.3% in the year-to-date period.Lincoln Electric: Headquartered in Cleveland, OH, Lincoln Electric is a full-line manufacturer and reseller of welding and cutting products. Improving order rates, strong quoting activity and high backlogs for equipment systems and automation solutions are expected to drive LECO's growth. A strong product development pipeline and investments in new technologies position the company well for future growth.The Zacks Consensus Estimate for Lincoln Electric's 2023 earnings has been revised upward by nearly 1% in the past 60 days. The stock has soared 28.8% in the year-to-date period.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 reportStanley Black & Decker, Inc. (SWK) : Free Stock Analysis ReportLincoln Electric Holdings, Inc. (LECO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Zacks Industry Outlook Highlights Stanley Black & Decker and Lincoln Electric

https://finance.yahoo.com/news/zacks-industry-outlook-highlights-stanley-124700449.html

362957d0-e195-311f-8b76-09c295714f68

SWK

There are dividend stocks and then there are Dividend Kings. It's hard to argue with the kind of success they've achieved.Continue reading

Motley Fool

3 Reasons Why You Should Invest in Dividend Kings

https://finance.yahoo.com/m/17a2ef48-edd5-3f07-a1c9-3f00167edc30/3-reasons-why-you-should.html

17a2ef48-edd5-3f07-a1c9-3f00167edc30

SWKS

Apple might be the king of tech. The Wall Street Journal reported on Wednesday that the Chinese government is banning the iPhone and other foreign-branded devices from use by workers at central government agencies. According to China’s National Bureau of Statistics, about 56.3 million urban workers were employed by “state-owned units” in 2021.Continue reading

The Wall Street Journal

Apple Becomes the Biggest U.S.-China Pawn Yet

https://finance.yahoo.com/m/99add564-86b0-36ad-95e1-4edbe69f08ed/apple-becomes-the-biggest.html

99add564-86b0-36ad-95e1-4edbe69f08ed

SWKS

Skyworks Solutions (NASDAQ:SWKS) has had a rough week with its share price down 10%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Particularly, we will be paying attention to Skyworks Solutions' ROE today.Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders. See our latest analysis for Skyworks Solutions How Is ROE Calculated?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 Skyworks Solutions is:18% = US$1.0b ÷ US$5.9b (Based on the trailing twelve months to June 2023).The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.18 in profit.What Is The Relationship Between ROE And Earnings Growth?Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.Skyworks Solutions' Earnings Growth And 18% ROETo start with, Skyworks Solutions' ROE looks acceptable. And on comparing with the industry, we found that the the average industry ROE is similar at 15%. Consequently, this likely laid the ground for the decent growth of 7.5% seen over the past five years by Skyworks Solutions.Story continuesAs a next step, we compared Skyworks Solutions' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 31% in the same period.past-earnings-growthEarnings growth is a huge factor in stock valuation. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Has the market priced in the future outlook for SWKS? You can find out in our latest intrinsic value infographic research report. Is Skyworks Solutions Efficiently Re-investing Its Profits?Skyworks Solutions has a three-year median payout ratio of 29%, which implies that it retains the remaining 71% of its profits. This suggests that its dividend is well covered, and given the decent growth seen by the company, it looks like management is reinvesting its earnings efficiently.Additionally, Skyworks Solutions has paid dividends over a period of nine years which means that the company is pretty serious about sharing its profits with shareholders. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 25%. However, Skyworks Solutions' ROE is predicted to rise to 22% despite there being no anticipated change in its payout ratio.ConclusionOn the whole, we feel that Skyworks Solutions' performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. As a result, the decent growth in its earnings is not surprising. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.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.

Skyworks Solutions, Inc.'s (NASDAQ:SWKS) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?

https://finance.yahoo.com/news/skyworks-solutions-inc-nasdaq-swks-112406392.html

a53aafa7-6cfd-32ed-a717-f9aeb4553e0b

SWN

Key InsightsSignificantly high institutional ownership implies Southwestern Energy's stock price is sensitive to their trading actionsThe top 14 shareholders own 51% of the company Analyst forecasts along with ownership data serve to give a strong idea about prospects for a businessA look at the shareholders of Southwestern Energy Company (NYSE:SWN) can tell us which group is most powerful. With 89% stake, institutions possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company.Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot 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.Let's take a closer look to see what the different types of shareholders can tell us about Southwestern Energy. See our latest analysis for Southwestern Energy ownership-breakdownWhat Does The Institutional Ownership Tell Us About Southwestern Energy?Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.As you can see, institutional investors have a fair amount of stake in Southwestern Energy. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Southwestern Energy's earnings history below. Of course, the future is what really matters.earnings-and-revenue-growthSince institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. We note that hedge funds don't have a meaningful investment in Southwestern Energy. The Vanguard Group, Inc. is currently the company's largest shareholder with 10% of shares outstanding. For context, the second largest shareholder holds about 8.8% of the shares outstanding, followed by an ownership of 6.0% by the third-largest shareholder.Story continuesAfter doing some more digging, we found that the top 14 have the combined ownership of 51% 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 Southwestern EnergyWhile the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.Our most recent data indicates that insiders own less than 1% of Southwestern Energy Company. It is a pretty big company, so it would be possible for board members to own a meaningful interest in the company, without owning much of a proportional interest. In this case, they own around US$49m worth of shares (at current prices). 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 10% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Southwestern Energy. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.Next Steps:I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 3 warning signs for Southwestern Energy you should be aware of, and 2 of them make us uncomfortable.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.

With 89% ownership, Southwestern Energy Company (NYSE:SWN) boasts of strong institutional backing

https://finance.yahoo.com/news/89-ownership-southwestern-energy-company-131450503.html

d2fdfebc-f36b-37a8-944b-68dcdfe1021b

SWN

SPRING, Texas, September 07, 2023--(BUSINESS WIRE)--Southwestern Energy Company (NYSE: SWN) today released its 10th annual Corporate Responsibility report. The comprehensive report, titled "ONE. Team. Focus. Future.", highlights the Company’s approach to sustainable value creation through its integrated business and sustainability strategies."As One Team with one focus, Southwestern Energy is continuously striving for one bright future as we create economic value and achieve our sustainability goals to benefit all SWN stakeholders," said Bill Way, Southwestern Energy President and Chief Executive Officer."We’re excited to share our tenth annual Corporate Responsibility report, highlighting our single-minded focus on sustainable value creation. Our commitment to sustainability extends beyond our operations, as we strive to meet the intertwined global challenges of delivering a lower-carbon future while securing the growing global demand for reliable, cleaner energy," continued Way.Key report initiatives and highlights are as follows:Achieved 20% methane intensity reduction in 2022 compared to 2021Reduced by 17% Scope 1 greenhouse gas (GHG) emissions intensity in 2022 compared to 2021 baseline; demonstrates progress toward long-term goal to reduce Scope 1 GHG intensity and absolute emissions 50% by 2035, consistent with a path to achieve net-zero emissions by 2050Achieved 2022 goal of certifying 100% of wells as low-emissions, responsibly produced gasAchieved and sustained fresh water neutral operations for the seventh consecutive year; cumulative 17.1 billion gallons of fresh water have been returned to the environment through conservation projects100% participation by senior management in 16-hour Diversity and Inclusion training programs; remaining employees are expected to complete in 2023Published EEO-1 data; 32% of new hires in 2022 were ethnically or gender diverseSustained strong safety culture and performance; reported 0.37 employee and contractor Total Recordable Incident Rate (TRIR) in 2022, a 5% improvement compared to 202115% of executive and employee annual incentive compensation linked to ESG metrics, including safety, spills and emissions44% of board members are diverse (two women, one Native American, one French national); in June 2023, added a new director of Indian descent, which increased the diversity of the board to 50%Story continuesThe report – which aligns with the Global Reporting Initiative (GRI) Standards requirements and is in accordance with the GRI Standards at the Core level and is also guided by the Sustainability Accounting Standards Board’s (SASB) standards for Oil and Gas Exploration and Production, the Task Force on Climate-related Financial Disclosures (TCFD) and several other reporting frameworks and scorecards relevant for the industry – is available at www.swncrreport.com.About Southwestern EnergySouthwestern Energy Company (NYSE: SWN) is a leading U.S. producer and marketer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. For additional information, please visit www.swn.com and www.swncrreport.com.Forward Looking StatementThis news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. These statements are based on current expectations. The words "anticipate," "intend," "plan," "project," "estimate," "continue," "potential," "should," "could," "may," "will," "objective," "guidance," "outlook," "effort," "expect," "believe," "predict," "budget," "projection," "goal," "forecast," "model," "target", "seek", "strive," "would," "approximate," and similar words are intended to identify forward-looking statements. Statements may be forward looking even in the absence of these particular words.Examples of forward-looking statements include, but are not limited to, the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including guidance regarding our strategy to develop reserves, drilling plans and programs (including the number of rigs and frac crews to be used), estimated reserves and inventory duration, projected production and sales volume and growth rates, projected commodity prices, basis and average differential, impact of commodity prices on our business, projected average well costs, generation of free cash flow, our return of capital strategy, including the amount and timing of any redemptions, repayments or repurchases of our common stock, outstanding debt securities or other debt instruments, leverage targets, our ability to maintain or improve our credit ratings, our ability to achieve our debt reduction plan, leverage levels and financial profile, our hedging strategy, our environmental, social and governance (ESG) initiatives and our ability to achieve anticipated results of such initiatives, expected benefits from acquisitions, potential acquisitions, divestitures, potential divestitures and strategic transactions, the timing thereof and our ability to achieve the intended operational, financial and strategic benefits of any such transactions or other initiatives. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. All forward-looking statements speak only as of the date of this news release. The estimates and assumptions upon which forward-looking statements are based are inherently uncertain and involve a number of risks that are beyond our control. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and we cannot assure you that such statements will be realized or that the events and circumstances they describe will occur. Therefore, you should not place undue reliance on any of the forward-looking statements contained herein.Factors that could cause our actual results to differ materially from those indicated in any forward-looking statement are subject to all of the risks and uncertainties incident to the exploration for and the development, production, gathering and sale of natural gas, NGLs and oil, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, commodity price volatility, inflation, the costs and results of drilling and operations, lack of availability of drilling and production equipment and services, the ability to add proved reserves in the future, environmental risks, drilling and other operating risks, legislative and regulatory changes, the uncertainty inherent in estimating natural gas and oil reserves and in projecting future rates of production, the quality of technical data, cash flow and access to capital, the timing of development expenditures, a change in our credit rating, an increase in interest rates, our ability to achieve our debt reduction plan, our ability to increase commitments under our revolving credit facility, our hedging and other financial contracts, our ability to maintain leases that may expire if production is not established or profitably maintained, our ability to transport our production to the most favorable markets or at all, any increase in severance or similar taxes, the impact of the adverse outcome of any material litigation against us or judicial decisions that affect us or our industry generally, the effects of weather or power outages, increased competition, the financial impact of accounting regulations and critical accounting policies, the comparative cost of alternative fuels, credit risk relating to the risk of loss as a result of non-performance by our counterparties, including as a result of financial or banking failures, impacts of world health events, including the COVID-19 pandemic, cybersecurity risks, geopolitical and business conditions in key regions of the world, our ability to realize the expected benefits from acquisitions, divestitures, and strategic transactions, our ability to achieve our GHG emission reduction goals and the costs associated therewith, and any other factors described or referenced under Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations" and under Item 1A. "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2022.We have no obligation and make no undertaking to publicly update or revise any forward-looking statements, except as required by applicable law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906610813/en/ContactsInvestor Contact Brittany RaifordDirector, Investor Relations(832) [email protected]

Business Wire

Southwestern Energy Releases Tenth Annual Corporate Responsibility Report

https://finance.yahoo.com/news/southwestern-energy-releases-tenth-annual-130000036.html

f3cd94e2-1728-3c81-80b1-4e7865cc6984

SXC

Key InsightsGiven the large stake in the stock by institutions, SunCoke Energy's stock price might be vulnerable to their trading decisionsThe top 10 shareholders own 52% of the companyUsing data from company's past performance alongside ownership research, one can better assess the future performance of a companyIf you want to know who really controls SunCoke Energy, Inc. (NYSE:SXC), then you'll have to look at the makeup of its share registry. We can see that institutions own the lion's share in the company with 88% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait.Let's take a closer look to see what the different types of shareholders can tell us about SunCoke Energy. View our latest analysis for SunCoke Energy ownership-breakdownWhat Does The Institutional Ownership Tell Us About SunCoke Energy?Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.We can see that SunCoke Energy does have institutional investors; and they hold a good portion of the company's stock. 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 SunCoke Energy's 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. We note that hedge funds don't have a meaningful investment in SunCoke Energy. Our data shows that BlackRock, Inc. is the largest shareholder with 17% of shares outstanding. With 8.0% and 7.4% of the shares outstanding respectively, The Vanguard Group, Inc. and Dimensional Fund Advisors LP are the second and third largest shareholders. Furthermore, CEO Michael Rippey is the owner of 0.7% of the company's shares.Story continuesOn further inspection, we found that more than half the company's shares are owned by the top 10 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones.While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.Insider Ownership Of SunCoke EnergyThe definition of an insider can differ slightly between different countries, but members of the board of directors always count. 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.Our most recent data indicates that insiders own some shares in SunCoke Energy, Inc.. In their own names, insiders own US$10m worth of stock in the US$761m 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-- including retail investors -- own 11% stake in the company, and hence can't easily be ignored. 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 SunCoke Energy better, we need to consider many other factors. For example, we've discovered 3 warning signs for SunCoke Energy (1 is significant!) that you should be aware of before investing here.Ultimately the future is most important. You can access this free report on analyst forecasts for the company.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.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 88% ownership of the shares, SunCoke Energy, Inc. (NYSE:SXC) is heavily dominated by institutional owners

https://finance.yahoo.com/news/88-ownership-shares-suncoke-energy-194630037.html

721f8e60-0f17-3430-aedb-b747761ccba4

SXC

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.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 company to watch right now is SunCoke Energy (SXC). SXC is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.Another notable valuation metric for SXC is its P/B ratio of 1.21. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 1.37. SXC's P/B has been as high as 1.38 and as low as 0.79, with a median of 1.13, over the past year.Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. SXC has a P/S ratio of 0.39. This compares to its industry's average P/S of 0.75.Value investors will likely look at more than just these metrics, but the above data helps show that SunCoke Energy is likely undervalued currently. And when considering the strength of its earnings outlook, SXC 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 reportSunCoke Energy, Inc. (SXC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Are Investors Undervaluing SunCoke Energy (SXC) Right Now?

https://finance.yahoo.com/news/investors-undervaluing-suncoke-energy-sxc-134011431.html

a89eef22-a458-3a38-adad-a787fb1179ac

SXTP

ORLANDO, FL / ACCESSWIRE / September 1, 2023 / RedChip Companies will air interviews with Genetic Technologies Limited (Nasdaq:GENE) and 60 Degrees Pharmaceuticals (NASDAQ:SXTP) on The RedChip Money Report&reg;, a sponsored program on Bloomberg TV, this Saturday, September 2, at 7 p.m. Eastern Time (ET). Bloomberg TV is available in an estimated 73 million homes across the U.S.Access the interviews in their entirety at:About The RedChip Money Report&reg;The RedChip Money Report&reg; is produced by RedChip Companies Inc., an international Investor Relations and media firm with 30 years' experience focused on Discovering Tomorrow's Blue Chips Today&trade;. "The RedChip Money Report&reg;" delivers insightful commentary on small-cap investing, interviews with Wall Street analysts, financial book reviews, as well as featured interviews with executives of public companies.About Genetic TechnologiesGenetic Technologies (ASX:GTG; Nasdaq:GENE). A global leader in genomics-based tests in health, wellness and serious disease through its geneType, EasyDNA and AffinityDNA brands. GTG lead the most comprehensive portfolio of genetic tests from Carrier screening and NIPT to the advanced predictive testing and assessment tools to help physicians to improve health outcomes for people around the world. The company's Polygenic Risk Scores (PRS) platform is a proprietary risk stratification platform developed over the past decade integrating clinical and genetic risk delivering actionable outcomes from physicians and individuals. Leading the world in risk prediction in Oncology, Cardiovascular and Metabolic diseases. Genetic Technologies continues to develop a pipeline of risk assessment products. For more information, please visit www.genetype.com.About 60 Degrees Pharmaceuticals60 Degrees Pharmaceuticals, Inc., founded in 2010, specializes in developing and marketing new medicines for the treatment and prevention of infectious diseases that affect the lives of millions of people. 60P successfully achieved FDA approval of its lead product, ARAKODA&reg; (tafenoquine), for malaria prevention, in 2018. 60P also collaborates with prominent research organizations in the U.S., Australia and Singapore. 60P's mission has been supported through in-kind funding from the United States Department of Defense and private institutional investors including Knight Therapeutics Inc., a Canadian-based pan-American specialty pharmaceutical company. 60P is headquartered in Washington D.C., with a majority-owned subsidiary in Australia. Learn more at www.60degreespharma.com.About RedChip CompaniesRedChip Companies, an Inc. 5000 company, is an international investor relations, media, and research firm focused on microcap and small-cap companies. For 30 years, RedChip has delivered concrete, measurable results for its clients. Our newsletter, the RedChip Money Report is delivered online weekly to 60,000 investors. RedChip has developed the most comprehensive service platform in the industry for microcap and small-cap companies. These services include the following: a worldwide distribution network for its stock research; retail and institutional roadshows in major U.S. cities; outbound marketing to stock brokers, RIAs, institutions, and family offices; a digital media investor relations platform that has generated millions of unique investor views; investor webinars and group calls; a television show, "The RedChip Money Report," which airs weekly on Bloomberg US; TV commercials in local and national markets; corporate and product videos; website design; and traditional investor relation services, which include press release writing, development of investor presentations, quarterly conference call script writing, strategic consulting, capital raising, and more.To learn more about RedChip's products and services, please visit:https://www.redchip.com/corporate/investor_relations"Discovering Tomorrow's Blue Chips Today"&trade;Contact:Dave GentryRedChip Companies Inc.1-800-RED-CHIP (733-2447)Or [email protected]: RedChipGenetic Technologies (Nasdaq:GENE): https://www.redchip.com/stocks/GENE60 Degrees Pharmaceuticals (NASDAQ:SXTP): https://www.redchip.com/stocks/SXTPView source version on accesswire.com: https://www.accesswire.com/779391/genetic-technologies-limited-and-60-degrees-pharmaceuticals-interviews-to-air-on-the-redchip-money-reportr-on-bloomberg-tv

ACCESSWIRE

Genetic Technologies Limited and 60 Degrees Pharmaceuticals Interviews to Air on the RedChip Money Report(R) on Bloomberg TV

https://finance.yahoo.com/news/genetic-technologies-limited-60-degrees-130000075.html

83e93a25-1476-3a3b-ab06-1b8e42a84e8a

SXTP

Sixty Degrees PharmaceuticalsManagement investor presentation webcast available Monday 9/11, 7:00 AM ETAttendees may request 1 x 1 meetings with management at [email protected], Sept. 06, 2023 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals Inc. (“60P” or the “Company”) (Nasdaq: SXTP), a pharmaceutical company focused on developing new medicines for infectious diseases, announced today that CEO Dr. Geoff Dow and CFO Ty Miller will participate in the H.C. Wainwright 25th Annual Global Investment Conference  September 11-13, to be held in New York City.A 20-minute, pre-recorded management investor presentation will be available on demand here starting Monday September 11, 2023, 7:00 AM eastern time. Participants will be able to submit questions for management at that time through the webcast link.Attendees interested in 1 x 1 meetings with Dr. Dow and Mr. Miller are invited to request them through the conference’s meeting scheduler at [email protected] or by calling or emailing the investor contact below.A replay of the investor presentation will be available on 60P’s investor relations site for 30 days following the event.About 60 Degrees Pharmaceuticals, Inc.60 Degrees Pharmaceuticals, Inc., founded in 2010, specializes in developing and marketing new medicines for the treatment and prevention of infectious diseases that affect the lives of millions of people. 60P achieved FDA approval of its lead product, ARAKODA® (tafenoquine), for malaria prevention, in 2018. 60P also collaborates with prominent research organizations in the U.S., Australia and Singapore. 60P’s mission has been supported through in-kind funding from the United States Department of Defense and private institutional investors including Knight Therapeutics Inc., a Canadian-based pan-American specialty pharmaceutical company. 60P is headquartered in Washington D.C., with a majority-owned subsidiary in Australia. Learn more at www.60degreespharma.com.Media Contact:Investor Contact:Sheila A. BurkePatrick [email protected]@60degreespharma.com(484) 667-6330(310) 989-5666

GlobeNewswire

60 Degrees Pharmaceuticals to Participate in H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/60-degrees-pharmaceuticals-participate-h-113100921.html

12f79ccd-4455-3727-961c-8396f1d9764c

SYF

Synchrony to Donate $85,000 to Nonprofit Matching People with Disabilities with Expertly Trained Service Dogs at No Cost to RecipientsSTAMFORD, Conn., Aug. 31, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a leading consumer financing company, today announced an expansion of a longstanding partnership with Canine Companions. The partnership includes an $85,000 donation from Synchrony to support the nonprofit's commitment to enhance the lives of people with disabilities by providing them with expertly trained service dogs at no cost. Synchrony began its relationship with Canine Companions more than eight years ago and has previously donated more than $250,000 to the organization.Synchrony's partnership with Canine Companions includes an $85,000 donation to support the nonprofit’s commitment to enhance the lives of people with disabilities by providing them with expertly trained service dogs.Drawing on decades of veterinary and pet expertise, Synchrony offers consumers two key veterinary and pet financing products—CareCredit, a health and wellness credit card, and Pets Best, a pet health insurance product—that will support the partnership. Synchrony's CareCredit Rewards Mastercard cardholders have access to a reward redemption donation to Canine Companions as a CharityChoice gift card. Synchrony's Pets Best policyholders also have the opportunity to donate to Canine Companions when they successfully refer someone through the Pets Best referral program."The partnership between a person with a disability and their service dog is a lifetime relationship," said Boo Larsen, SVP & General Manager, Veterinary and Pet Care, Synchrony. "By expanding our partnership with Canine Companions, we can help provide independence to people with disabilities by matching them with their cherished companions."Canine Companions serves people with physical and developmental disabilities, adults who are deaf or hard of hearing, as well as professionals working in health care, visitation, educational or criminal justice settings with task-trained service dogs that enhance independence and provide unconditional love.Story continues"Synchrony and Canine Companions have a partnership rooted in a belief of the transformative power of the human-canine bond," said Paige Mazzoni, CEO, Canine Companions. "We are grateful for their marketing and financial support of our mission to enhance the lives of people with disabilities through expertly trained service dogs."For nearly 30 years, CareCredit has been a valued financing option for all types of veterinary services, treatments, and diagnostics, giving pet owners peace of mind that they are ready to care for their pets throughout their lifetime. CareCredit is recommended by the American Animal Hospital Association and is a preferred partner for the American Veterinary Medical Association. CareCredit is currently offered in more than 25,000 veterinary practices across the U.S. You can learn more about CareCredit at www.carecredit.com.About Canine CompanionsAs the leader of the service dog industry, Canine Companions transforms the lives of children, adults and veterans with disabilities by providing expertly trained service dogs that assist with practical tasks, as well as provide unconditional love and acceptance—free of charge. This powerful relationship leads to increased independence, self-esteem and inclusion for a person with a disability. Established in 1975, Canine Companions is a nonprofit 501(c)(3) and has six training centers across the country serving all 50 states. Learn more at canine.org or call 1-800-572-BARK.About SynchronySynchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners."  We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.ContactLauren [email protected] Logo (PRNewsfoto/Synchrony)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/synchrony-celebrates-national-service-dog-month-with-canine-companions-301912716.htmlSOURCE Synchrony

PR Newswire

Synchrony Celebrates National Service Dog Month with Canine Companions

https://finance.yahoo.com/news/synchrony-celebrates-national-dog-month-130000092.html

572efed5-69cd-3837-b5af-099f248a60a1

SYF

STAMFORD, Conn., Sept. 5, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF) Chief Financial Officer, Brian J. Wenzel, will participate in a fireside chat at the Barclays Global Financial Services Conference on Monday, September 11, 2023, at 9:00 a.m. (Eastern Time).Synchrony Logo (PRNewsfoto/Synchrony)A live webcast and replay will be made available on the Synchrony Investor Relations website at www.investors.synchronyfinancial.com.About SynchronySynchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.Contacts:Investor RelationsKathryn Miller(203) 585-6291Media RelationsLisa Lanspery(203) 585-6143CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/synchrony-to-participate-in-the-barclays-global-financial-services-conference-301915254.htmlSOURCE Synchrony

PR Newswire

Synchrony to Participate in the Barclays Global Financial Services Conference

https://finance.yahoo.com/news/synchrony-participate-barclays-global-financial-120000631.html

0bd72c0f-2f7d-3e43-861f-6d83c187def5

SYK

Investors with an interest in Medical - Products stocks have likely encountered both Haemonetics (HAE) and Stryker (SYK). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.Both Haemonetics and Stryker have a Zacks Rank of # 2 (Buy) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that both of these companies have improving earnings outlooks. However, value investors will care about much more than just this.Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.HAE currently has a forward P/E ratio of 23.25, while SYK has a forward P/E of 27.88. We also note that HAE has a PEG ratio of 2.33. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. SYK currently has a PEG ratio of 2.79.Another notable valuation metric for HAE is its P/B ratio of 5.19. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, SYK has a P/B of 6.32.These metrics, and several others, help HAE earn a Value grade of B, while SYK has been given a Value grade of C.Story continuesBoth HAE and SYK are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that HAE is the superior value 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 reportHaemonetics Corporation (HAE) : Free Stock Analysis ReportStryker Corporation (SYK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

HAE or SYK: Which Is the Better Value Stock Right Now?

https://finance.yahoo.com/news/hae-syk-better-value-stock-154008443.html

d8214219-b717-3a14-996a-17268b5d32aa

SYK

On September 6, 2023, Group President Viju Menon sold 5,000 shares of Stryker Corp (NYSE:SYK). This transaction is part of a series of insider sells by Menon over the past year, totaling 7,161 shares sold and no shares purchased.Warning! GuruFocus has detected 6 Warning Signs with SYK. Click here to check it out. SYK 30-Year Financial DataThe intrinsic value of SYKViju Menon is a key figure at Stryker Corp, serving as Group President. His role involves overseeing strategic decisions and operations, contributing significantly to the company's performance. Stryker Corp is a Fortune 500 medical technologies firm. It is a leader in the worldwide orthopedic market and a major player in other medical markets such as neurotechnology and spine. The company's products include implants used in joint replacement, trauma, craniomaxillofacial and spinal surgeries; endoscopic, surgical navigation, communications and digital imaging systems; as well as patient handling and emergency medical equipment.The insider's recent sell has raised questions about the relationship between insider trading and the stock's price. Over the past year, there have been 17 insider sells and no insider buys at Stryker Corp. This trend is illustrated in the following image:Insider Sell: Group President Viju Menon Sells 5,000 Shares of Stryker CorpOn the day of the insider's recent sell, Stryker Corp's shares were trading at $289 each, giving the company a market cap of $109.96 billion. The price-earnings ratio was 40.90, higher than both the industry median of 27.78 and the company's historical median price-earnings ratio. This suggests that the stock may be overvalued.However, the GuruFocus Value of Stryker Corp is $305.43, resulting in a price-to-GF-Value ratio of 0.95. This indicates 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, and future business performance estimates from Morningstar analysts. The GF Value is illustrated in the following image:Story continuesInsider Sell: Group President Viju Menon Sells 5,000 Shares of Stryker CorpIn conclusion, while the insider's sell may raise some eyebrows, the stock's valuation metrics suggest that Stryker Corp's stock is fairly valued. Investors should keep a close eye on further insider trading activity and other market indicators to make informed investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: Group President Viju Menon Sells 5,000 Shares of Stryker Corp

https://finance.yahoo.com/news/insider-sell-group-president-viju-050243041.html

cde75393-bf1a-3072-ada7-54ffecb32056

SYRS

ParticipantsConley Chee; Chief Commercial Officer & Chief Business Officer; Syros Pharmaceuticals, Inc.David A. Roth; Chief Medical Officer; Syros Pharmaceuticals, Inc.Jason Haas; CFO; Syros Pharmaceuticals, Inc.Karen Hunady; Director of Corporate Communications & IR; Syros Pharmaceuticals, Inc.Nancy A. Simonian; President, CEO & Director; Syros Pharmaceuticals, Inc.Edward Andrew Tenthoff; MD & Senior Research Analyst; Piper Sandler & Co., Research DivisionPhilip M. Nadeau; MD & Senior Research Analyst; TD Cowen, Research DivisionPresentationOperatorGood morning, and welcome to Syros Pharmaceuticals Second Quarter 2023 Financial Results Conference Call. (Operator Instructions) This call is being webcast live on the Investors and Media section of Syros' website at www.syros.com. Please be advised that today's call is being recorded. At this time, I would like to turn the call over to Karen Hunady, Director of Investor Relations and Corporate Communications at Syros. Please go ahead.Karen HunadyThank you. This morning, we issued a press release announcing our second quarter 2023 financial results. The full release is available on the Investors and Media section of Syros' website at www.syros.com. We will begin the call with prepared remarks by Dr. Nancy Simonian, our Chief Executive Officer; Dr. David Roth, our Chief Medical Officer; and Jason Haas, our Chief Financial Officer. We will then open the call for questions. Kristin Stephens, our Chief Development Officer; Dr. Eric Olson, our Chief Scientific Officer; and Conley Chee, our Chief Commercial Officer, are also on the call and will be available for Q&A. Before we begin, I would like to remind everyone that the statements we make on this conference call will include forward-looking statements. Actual events or results could differ materially from those expressed or implied by any forward-looking statements as a result of various risks, uncertainties and other factors, including those set forth in the Risk Factors section of our quarterly report on Form 10-Q that we filed this morning, our annual report on Form 10-K that we filed earlier in the year, and any other filings that we may make with the SEC in the future. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligation to update or revise any forward-looking statements. I would now like to turn the call over to Nancy. Nancy?Story continuesNancy A. SimonianThank you, Karen. Good morning, everyone, and thank you for joining us today. The first half of the year has been very productive for Syros, and we are encouraged by ongoing momentum across our clinical trials and our pre-commercial activities. We remain laser-focused on clinical trial execution and are well positioned to achieve each of our upcoming milestones with data readouts from our Phase II study evaluating tamibarotene in newly diagnosed unfit AML expected in the fourth quarter of 2023. And from our pivotal Phase III trial of tamibarotene in higher-risk MDS expected in the third quarter of 2024, and an update on PK data and registration plans for SY-2101 in APL expected in the second half of this year.As we execute against our clinical development plans and approach data readouts, we are engaging in pre-commercial activities to ensure that we are well positioned to effectively deliver our novel treatments to patients. We believe the potential of our biologically-targeted programs in MDS, AML and APL, coupled with their commercial synergies position us for substantial long-term success with the opportunity to fulfill key unmet needs in the frontline treatment of hematologic malignancies and ultimately deliver new standards of care to thousands of patients in need. I would now like to turn the call over to David, our Chief Medical Officer, to provide a more detailed update on our ongoing clinical programs. David?David A. RothThank you, Nancy. We are very pleased by the progress in our efforts to advance tamibarotene, our novel oral selective and potent RAR-alpha agonist in genomically-defined subsets of patients with higher-risk MDS and AML whose disease is characterized by the overexpression of the RARA gene. .Enrollment in both the SELECT-AML-1 Phase II trial and the SELECT-MDS-1 Phase III trials are ongoing, and we are on track to achieve the enrollment numbers necessary to support planned data readouts with initial data from the SELECT-AML-1 in the fourth quarter of 2023 and pivotal CR data from the SELECT-MDS-1 in the third quarter of 2024. As we continue to screen patients for both trials, we've observed that approximately 50% of patients with higher-risk MDS and 30% of AML patients are positive for RARA overexpression, consistent with our expectations. As such, we continue to believe that tamibarotene has the potential to address a significant market opportunity by addressing sizable segments of the high-risk MDS and unfit AML patient populations who are underserved by existing options. We have compelling data to support our belief that the addition of tamibarotene could improve upon the outcomes of the standard of care. Over the past several years, we've evaluated tamibarotene in multiple clinical trials, which have consistently demonstrated activity with potential for meaningful benefit. Most recently, as we announced late last year in the safety lead-in portion of our Phase II AML study evaluating tamibarotene in combination with azacitidine and venetoclax, our triplet regimen demonstrated high composite complete response rates with rapid time to response and favorable tolerability with no additive myelosuppression. Given the similarities between MDS and AML and the supportive data we've seen across these patient populations to date, these results give us confidence that tamibarotene's differentiated profile could benefit biologically targeted MDS and AML patient populations that are readily identifiable and potentially establish a new standard of care for people with RARA gene overexpression. It's also worth emphasizing the sizable unmet need in high-risk MDS and AML that may be addressed by tamibarotene. Starting with higher-risk MDS, there have been no new therapies beyond hypomethylating agents, or HMAs, approved in well over a decade. The existing standard of care provides limited efficacy with a 17% CR rate and a median overall survival of just 18.6 months. This may be attributed to the use of a nontargeted agent, like an HMA in an unselected higher-risk MDS patient population with clinical and genetic heterogeneity. At the same time, this provides a unique opportunity for differentiation with tamibarotene, our biologically targeted approach designed specifically to address the approximate 50% of patients who present with RARA gene overexpression and who can be readily identified using a simple blood test assay. Tamibarotene also benefits from a generally well-tolerated safety profile, which is particularly well suited to this generally elderly and frail population. As a reminder, in our SELECT-MDS-1 Phase III trial, we are evaluating the combination of tamibarotene plus azacitidine in a double-blind, placebo-controlled study in newly diagnosed high-risk MDS patients with RARA overexpression. The primary endpoint of the study is complete response rate in the initial 190 patients with overall survival now included as a key secondary endpoint. As we described last quarter, recent FDA feedback continues to support our use of CR rate as an appropriate primary efficacy endpoint for either full or accelerated approval. That said, if tamibarotene receives accelerated approval, the addition of overall survival as a key secondary endpoint in the same study could allow SELECT-MDS-1 to also confirm clinical benefit, to support full approval in the future, potentially avoiding the need for a separate confirmatory study. Under the current protocol, to SELECT-MDS-1 trial we will enroll a total of 550 newly diagnosed higher-risk MDS patients, including the initial 190 patients supporting the primary endpoint. We're on track to complete enrollment of the initial patients necessary to support approval using a CR endpoint in the fourth quarter of this year and plan to report pivotal CR data in the third quarter of 2024. Now moving on to AML, where we are evaluating tamibarotene in the SELECT-AML-1 Phase II trial in newly diagnosed unfit AML patients with RARA overexpression. Despite recent advancements in AML, roughly 1/3 of newly diagnosed unfit AML patients do not respond to the current standard of care and virtually all patients eventually relapse. And as for MDS, we continue to believe there is an important opportunity for tamibarotene to address existing unmet need in a sizable AML patient segment, approximately 30% who are identifiable by RARA overexpression. The randomized portion of the ongoing SELECT-AML-1 Phase II study is designed to evaluate the safety and efficacy of tamibarotene in combination with ven/aza, compared to ven/aza alone in approximately 80 newly diagnosed unfit AML patients. Patients were randomized 1:1 into the 2 treatment arms with composite CR rate or the CR/CRi rate as the primary endpoint. In the fourth quarter of this year, we expect to report initial data from this trial. This will be the first direct comparison of patients with RARA overexpression treated with the triplet regimen of tamibarotene plus ven/aza, compared to ven/aza alone and we believe may help inform in our understanding of the performance of the triplet versus the doublet in AML in advance of sharing additional data in 2024. Now turning to 2101, which is being evaluated in an ongoing dose confirmation study. We remain encouraged by the potential of our novel form of ATO to alleviate the significant burden of the current standard of care for APL that includes the use of intravenous ATO. While IV ATO is highly effective offering a cure rate of over 80%, it is highly burdensome for patients, requiring up to 140 treatment infusions over nearly a year, each of which lasts 2 to 4 hours. By providing an oral form of ATO we believe we can offer an oral regimen that is effective while also increasing access and reducing health care costs and utilization. We continue to gather PK data from the dose confirmation study and we look forward to providing an update in the second half of this year, which will include the development path and timing for further evaluation of 2101 in a registration-enabling study in APL. Finally, at the ASCO Annual Meeting in June, we presented encouraging new data from the Phase Ib clinical trial of 5609, which supports further development of 5609 in pancreatic and HR-positive breast cancer and demonstrates the significant potential of selective CDK7 inhibition in a wide range of tumor types and combinations. These data received a warm reception from clinicians and key opinion leaders who are encouraged by the promising activity observed in heavily pretreated populations that are unlikely to respond to the standard of care, as well as the predictable, well-managed tolerability profile. We believe these data strongly support our ongoing exploration of out-licensing opportunities to support further development of this program and look forward to providing an update at the appropriate time in the future. I would now like to turn the call over to Jason, our Chief Financial Officer, to review our second quarter financial results. Jason?Jason HaasThank you, David. Now turning to our second quarter financial results. We recognized $2.8 million in revenue in the second quarter of 2023, consisting entirely of revenue recognized under our collaboration with Pfizer. Syros recognized $6.3 million of revenue in the second quarter of 2022, consisting of $5.7 million in revenue recognized under our Pfizer collaboration and $0.6 million recognized under our collaboration with Incyte.R&D expenses were $29.6 million in the second quarter of '23 as compared to $33.1 million for the second quarter of '22. Our R&D expenditures are now principally focused on the advancement of the company's late-stage clinical programs. G&A expenses were $7.2 million in the second quarter '23 as compared to $6.9 million for the second quarter of 2022. We reported a net loss for the second quarter of $36.3 million or $1.30 per share compared to a net loss of $34.5 million or $5.40 per share for the same period in 2022. Cash, cash equivalents and marketable securities as of June 30, 2023, were $144 million as compared to $166 million on March 31, 2023. We continue to believe our current cash position will be sufficient to fund our anticipated operating expenses and capital expenditure requirements into 2025, which is beyond Phase III data from the SELECT-MDS-1 trial and data from the randomized portion of the SELECT-AML-1 trial. With that, I will turn the call over to the operator for questions.Question and Answer SessionOperator(Operator Instructions) Your first question will come from Ted Tenthoff at Piper Sandler.Edward Andrew TenthoffExcited for all the update on the SELECT program. My question had to do a little bit more on the partnering side, just with the discovery efforts and the past partnerships and 5609, where are you guys currently in terms of evaluating or considering new partnerships?Nancy A. SimonianTed, thanks for the question. I'll have Conley answer that question, Conley.Conley CheeThanks for the question, Ted. Yes, as you know, we are -- as Jason just mentioned, we're really focusing our resources on our late-stage programs in regards to tamibarotene and 2101. So we've been in discussions and continue to be in discussions around our 5609 program in all of our discovery efforts, and as soon as we have any news for you we'll certainly update you on that.Edward Andrew TenthoffGreat. Excited for SELECT data later this year and next year.Nancy A. SimonianYes.Conley CheeAs are we.OperatorYour next question will come from Phil Nadeau at TD Cowen.Philip M. NadeauCongrats on progress. A few from us. So in terms of tami and AML when do you think you'd be in a position to make a go/no-go decision on further development there? Is the data that we're going to get in Q4 sufficient or the extended results in 2024 more likely to inform that decision?Nancy A. SimonianYes. Thanks. I'm going to have David answer that question.David A. RothThanks, Phil. So we are planning to present our initial data coming from the randomized portion of the trial in the fourth quarter. And we're looking to that data to have greater insights into the upcoming data readouts that we have targeted for 2024, so while we haven't specified like what would be a go/no-go and when that would occur, I think that you should view the anticipated data presentation in the fourth quarter as initial data.Philip M. NadeauAnd what's your updated thoughts on how many patients we'll see in Q4?David A. RothWe haven't specified the numbers of patients. Obviously, we look forward to presenting enough information so that one can meaningfully understand what's going on and help us to provide insights into how we're moving forward. Now keep in mind, this will be the very first data readout of the triplet of tami, ven/aza versus ven/aza in patients with RARA overexpression. So we're really excited to provide our initial insights into how the triplet will be performing in our targeted population. And I think that you should look forward to hearing what we have to say at that point.Philip M. NadeauGreat. And then in terms of SELECT-MDS-1, we recently saw magrolimab fail at its futility analysis. Can you let us know whether there are any futility analysis planned for SELECT-MDS-1 after the primary endpoint, but before the overall survival data are produced. And maybe more generally, was there anything that you learned from magrolimab failure?Nancy A. SimonianDavid.David A. RothSure. Those are all good questions. Obviously, disappointing for the patients who were looking to that program for a future treatment option. And we regret that for them. In terms of our program, we're conducting a randomized placebo-controlled trial. We do have an interim futility analysis. And then our first efficacy analysis is the primary analysis for the CR rate based on those initial 190 patients, so we haven't really specified additional analyses subsequent to that. As you know, we amended the trial to add additional patients up to 550 for a future confirmatory secondary endpoint of survival, but we haven't really specified additional analysis beyond our primary analysis for the initial approval. In terms of why they had the result they had. Unfortunately, we can't really speak to it because we don't have insight into their data or the performance of their study. And so for that reason, we really can't shed light on whether there's any readthrough to our own program. We, however, certainly don't feel there is because we have a unique mechanism of action where a small molecule, not an antibody, and we have a targeted population that we can readily identify. So with our novel biology and our generally well-tolerated safety profile, we think we have several features that differentiate us from what magrolimab was trying to do and how they were working, such that, that insulates us from any readthrough.Philip M. NadeauAnd the futility analysis you mentioned, is that before the primary endpoint analysis?David A. RothYes. There likely will be a futility before the primary efficacy analysis, and again, that's largely a futility analysis based on the safety and the risk/benefit ratio. And it's all blinded. We won't really have insight into the details of the data at that point.Philip M. NadeauGreat. And then last question from us. On 2101, in terms of the updates in the second half of the year, has an FDA meeting been scheduled? And what new PK data will we be able to present once you do update us on the path forward?David A. RothSo for that program we're currently working on the dose confirmation trial doing analysis of the PK data assets being generated. We've said that we would provide an update in the second half of the year where we will obviously share more information coming out of that study with more details around what our development plan and timelines will be for next steps, and at that point, we'll be able to provide you with more specific information.OperatorThere are no further questions on the phone line. So I will turn the conference back to Nancy Simonian for any closing remarks.Nancy A. SimonianThank you, operator, and thank you, everyone, for joining us today and for your continued support of Syros. Please reach out with any further questions. Have a great day.OperatorLadies and gentlemen, this does conclude your conference call for this morning. We would like to thank everyone for participating and ask you to please disconnect your lines.

Thomson Reuters StreetEvents

Q2 2023 Syros Pharmaceuticals Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-syros-pharmaceuticals-inc-014922795.html

3b316d5c-9e7d-3f11-ba4c-19bc488150b4

SYRS

CAMBRIDGE, Mass., September 07, 2023--(BUSINESS WIRE)--Syros Pharmaceuticals (NASDAQ:SYRS), a biopharmaceutical company committed to advancing new standards of care for the frontline treatment of hematologic malignancies, today announced the grant of restricted stock unit (RSU) awards for an aggregate of 20,650 shares of Syros common stock to two newly hired employees in connection with commencing employment with Syros. These RSUs were granted as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).The awards were granted on September 1, 2023, and vest as to one-quarter of the shares on August 31, 2024, and as to an additional one-quarter of the shares at the end of each successive year thereafter, subject to the employee’s continued service with Syros. These awards are subject to the terms and conditions of a restricted stock unit agreement covering the awards and Syros’ 2022 Inducement Stock Incentive Plan.About Syros PharmaceuticalsSyros is committed to developing new standards of care for the frontline treatment of patients with hematologic malignancies. Driven by the motivation to help patients with blood disorders that have largely eluded other targeted approaches, Syros is advancing a robust late-stage clinical pipeline, including tamibarotene, an oral selective RARα agonist in patients with higher-risk myelodysplastic syndrome and acute myeloid leukemia with RARA gene overexpression, and SY-2101, a novel oral form of arsenic trioxide in patients with acute promyelocytic leukemia. Syros is also seeking out-licensing opportunities for SY-5609, a highly selective and potent clinical-stage CDK7 inhibitor for the treatment of select solid tumors, and multiple preclinical programs in oncology. For more information, visit www.syros.com and follow us on Twitter (@SyrosPharma) and LinkedIn.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907173442/en/ContactsSyros Contact Karen HunadyDirector of Corporate Communications & Investor [email protected] Investor Contact Hannah DeresiewiczStern Investor Relations, [email protected]

Business Wire

Syros Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

https://finance.yahoo.com/news/syros-reports-inducement-grants-under-203000897.html

f09a79c9-6f77-3195-b1bd-0edc85baadbc

SYY

Sysco Corporation SYY has been bearing the brunt of tough macroeconomic trends, product cost inflation, rising operating costs and expenses, as well as foreign currency headwinds.This currently Zacks Rank #4 (Sell) player has a market capitalization of $35.4 billion. In the past year, the stock has lost 14.9% compared with the industry’s 5% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchLet’s discuss the factors that might continue to affect the firm’s near-term performance.Soft Industry Trend: Sysco witnessed slower overall industry market volume growth in the fourth quarter of fiscal 2023. Although Sysco’s size and scale advantages and strong balance sheet position it for growth in fiscal 2024, the company expects the market to grow at a lower rate than fiscal 2023. This might put pressure on the company’s volumes, which, in turn, might affect sales.Escalating Costs and Expenses: The company has been encountering product cost inflation in the U.S. Foodservice unit for a while now. For instance, in the third and fourth quarters of fiscal 2023, the company witnessed product cost inflation of 4.9% and 2.1%, respectively, measured by estimated changes in product costs, mainly in the frozen, canned and dry categories.In fiscal 2023, its cost of sales and operating expenses recorded increases of 10.8% and 9%, respectively. Sysco expects its International segment to remain inflationary in fiscal 2024. Escalation in operating costs and expenses, if not controlled, might continue to affect SYY’s margins and profitability in the quarters ahead.Currency Woes: Given its widespread presence in international markets, Sysco is exposed to unfavorable foreign currency movements. In the fiscal fourth quarter, the company’s International Foodservice operations contributed 18.5% of its total revenues. However, in the quarter, foreign exchange headwinds had an adverse impact of 0.2% and 0.1% on the overall top line and gross profit, respectively. A stronger U.S. dollar might further depress SYY's overseas business results in the quarters ahead.High Tax Rate: For fiscal 2024, Sysco expects the tax rate to be approximately 24.5%, higher than 23% in fiscal 2023. A higher tax rate might hurt the company’s margins and profitability in fiscal 2024.Southbound Estimate Trend: In the past 30 days, the Zacks Consensus Estimate for fiscal 2024 and fiscal 2025 earnings has been revised down by 3.4% and 3.3%, respectively.Story continuesSome Solid Staple BetsInter Parfums IPAR, which manufactures, markets and distributes a range of fragrances and fragrance-related products, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Inter Parfums’ current financial-year sales indicates 19.7% growth from the year-ago reported figure. IPAR has a trailing four-quarter earnings surprise of 45.9% on average.Helen of Troy HELE, a provider of several consumer products, currently has a Zacks Rank #2 (Buy). HELE’s expected EPS growth rate for three to five years is 8%.The Zacks Consensus Estimate for Helen of Troy’s current fiscal-year sales suggests a decline of 2.9% from the year-ago reported numbers. HELE has a trailing four-quarter earnings surprise of 8.1%, on average.Ingredion Incorporated INGR, a producer and distributor of sweeteners, nutrition ingredients and biomaterial solutions, currently carries a Zacks Rank #2.The Zacks Consensus Estimate for INGR’s current financial-year earnings per share is expected to rise by 23.9% from the corresponding year-ago reported figure.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 reportSysco Corporation (SYY) : Free Stock Analysis ReportHelen of Troy Limited (HELE) : Free Stock Analysis ReportIngredion Incorporated (INGR) : Free Stock Analysis ReportInter Parfums, Inc. (IPAR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why You Should Give Sysco (SYY) Stock a Miss Now

https://finance.yahoo.com/news/heres-why-sysco-syy-stock-142500316.html

e33b4bfe-d147-351e-9164-40550ef032da

SYY

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. As with many other companies Sysco Corporation (NYSE:SYY) makes use of debt. But the more important question is: how much risk is that debt creating?Why Does Debt Bring Risk?Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Of course, the upside of debt is that it often represents cheap capital, especially when it replaces dilution in a company with the ability to reinvest at high rates of return. When we think about a company's use of debt, we first look at cash and debt together. View our latest analysis for Sysco How Much Debt Does Sysco Carry?The chart below, which you can click on for greater detail, shows that Sysco had US$10.1b in debt in July 2023; about the same as the year before. However, because it has a cash reserve of US$745.2m, its net debt is less, at about US$9.37b.debt-equity-history-analysisHow Strong Is Sysco's Balance Sheet?According to the last reported balance sheet, Sysco had liabilities of US$8.54b due within 12 months, and liabilities of US$12.2b due beyond 12 months. Offsetting this, it had US$745.2m in cash and US$5.10b in receivables that were due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by US$14.9b.This deficit isn't so bad because Sysco is worth a massive US$35.5b, and thus could probably raise enough capital to shore up its balance sheet, if the need arose. But we definitely want to keep our eyes open to indications that its debt is bringing too much risk.Story continuesWe measure a company's debt load relative to its earnings power by looking at its net debt divided by its earnings before interest, tax, depreciation, and amortization (EBITDA) and by calculating how easily its earnings before interest and tax (EBIT) cover its interest expense (interest cover). This way, we consider both the absolute quantum of the debt, as well as the interest rates paid on it.Sysco has a debt to EBITDA ratio of 3.4 and its EBIT covered its interest expense 3.7 times. This suggests that while the debt levels are significant, we'd stop short of calling them problematic. Worse, Sysco's EBIT was down 27% over the last year. If earnings continue to follow that trajectory, paying off that debt load will be harder than convincing us to run a marathon in the rain. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately the future profitability of the business will decide if Sysco can strengthen its balance sheet over time. So if you're focused on the future you can check out this free report showing analyst profit forecasts.Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. So it's worth checking how much of that EBIT is backed by free cash flow. During the last three years, Sysco produced sturdy free cash flow equating to 77% of its EBIT, about what we'd expect. This free cash flow puts the company in a good position to pay down debt, when appropriate.Our ViewSysco's EBIT growth rate was a real negative on this analysis, although the other factors we considered cast it in a significantly better light. In particular, its conversion of EBIT to free cash flow was re-invigorating. When we consider all the factors discussed, it seems to us that Sysco is taking some risks with its use of debt. While that debt can boost returns, we think the company has enough leverage now. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. For example - Sysco has 1 warning sign we think you should be aware of.If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.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.

Here's Why Sysco (NYSE:SYY) Has A Meaningful Debt Burden

https://finance.yahoo.com/news/heres-why-sysco-nyse-syy-120023371.html

e7334ccc-977a-3ef7-a6b5-14a7d825eaee

T

While telecom giants AT&T (NYSE: T) and Verizon (NYSE: VZ) are known for paying generous dividends to investors, T-Mobile (NASDAQ: TMUS) has avoided paying dividends up until now. The company has returned cash to shareholders in the form of share buybacks, but never direct dividend payments. T-Mobile announced on Sept. 6 that it plans to declare its first quarterly dividend in the fourth quarter, with an expected total payment of approximately $750 million.Continue reading

Motley Fool

Is T-Mobile a Top Dividend Stock?

https://finance.yahoo.com/m/34747155-e1e9-3e8d-b450-474dc424bf64/is-t-mobile-a-top-dividend.html

34747155-e1e9-3e8d-b450-474dc424bf64

T

One of the significant changes within the wireless industry over the past few years has been the push by cable companies like Comcast and Charter to offer inexpensive wireless services to their customers. On the surface, this appears to be a major risk to telecom giants like AT&T (NYSE: T). Comcast's Xfinity Mobile offers a $15 per month plan that comes with 1 GB of data, as well as a $30 per month unlimited plan.Continue reading

Motley Fool

AT&T Isn't Worried About Competition From Cable Companies

https://finance.yahoo.com/m/69a8c2b8-c610-38b5-8b87-5311a11826c9/at-t-isn-t-worried-about.html

69a8c2b8-c610-38b5-8b87-5311a11826c9

TACT

ParticipantsJohn M. Dillon; Interim CEO & Director; TransAct Technologies IncorporatedSteven A. DeMartino; President, CFO, Treasurer & Secretary; TransAct Technologies IncorporatedGeorge Frederick Sutton; Partner of Institutional Research & Senior Research Analyst; Craig-Hallum Capital Group LLCJeffrey Michael Martin; Co-Director of Research & Senior Research Analyst; ROTH MKM Partners, LLC, Research DivisionRyan GardellaPresentationOperatorGood afternoon, ladies and gentlemen, and welcome to the TransAct Technologies Q2 2023 Earnings Conference Call. (Operator Instructions). This call is being recorded on Wednesday, August 9, 2023, and I would now like to turn the conference over to Ryan Gardella, Investor Relations. Please go ahead.Ryan GardellaThanks, Chris. Good afternoon, and welcome to TransAct Technologies Second Quarter 2023 Earnings Call. Today, we'll be discussing the results announced in our press release issued after market close. Joining us from the company is CEO, John Dillon and President and CFO, Steven DeMartino. Today's call will include a discussion of the company's key operating strategies, progress on those initiatives and details on our second quarter financial results. We will then open the call to participants for questions.As a reminder, this conference call contains statements about future events and expectations, which are forward-looking in nature. Statements on this call may be deemed as forward-looking and actual results may differ materially. For a full list of risks inherent to the business and the company, please refer to the company's SEC filings, including its reports on Forms 10-K and 10-Q. TransAct undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances that occur after the call.Today's call and webcast will include non-GAAP financial measures within the meaning of SEC Regulation G. When required, reconciliation of all non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP can be found in today's press release as well as on the company website. And with that, I'd like to turn the call over to John.Story continuesJohn M. DillonThank you, Ryan. Good afternoon, everyone, and thanks for joining today. Last time, I had a chance to present to you all, I was only about a month into the job as CEO for TransAct. And now 127 days, I counted them up and I've had at least a little bit more of an opportunity to roll up my sleeves and dig into some of the work in earnest. So I'm happy with the progress we've made and I'm going to share some of that with you today.At a high level, the results came in as expected and discussed on the last call. Net sales came in at $19.9 million. Year-over-year, the increase was approximately 58% but it was a sequential decline of approximately 11% from the first quarter as we expected. And we've all tried to work hard setting the stage for success in the back half of the year and more importantly, on into '24 and beyond.Last quarter, I talked about the fundamental goodness I found here at TransAct and as well as some of the parts of the business that were going to require some action to allow us to take advantage of the opportunities up ahead in the market. I can say that we're always done revamping the parts of the business where that needed to be done. And we've added some new internal process where there was none before. We have moved some personnel around. We've let a few go. We've added a few. I like the progress we've made and I feel that we're fully ready to add some much-needed momentum for the business.The reality is that our sales teams, processes and go-to-market GTM strategies really required a pretty significant overhaul. And I'm really happy to say that the first phase of that is largely complete. I also feel confident that we now have the right people in the right places and we can now turn our attention to the other parts of the equation, predominantly focusing on execution.While change takes time and shifting behaviors and habits in any business can be a long game, I'm pretty confident that we're now moving all in the right direction. Let me go over some of the results from our 2 markets. First, on our food service technology or FST market, FST revenue was $3.9 million, up about 14% year-over-year. This was led primarily by higher shipments of our AccuDate 9700 product and increased label sales.We also added 743 net new BOHA! Terminals in the quarter, bringing the total number of our online terminals in the market up to 13,476 as of the end of the quarter, June 30, 2023. So that's up from 10,941 in the prior period a year ago. And honestly, I know we can improve on these numbers and that's one of the focuses that's pretty key for me.Our FST sales team is rebuilt and is refocused on the #1 priority, which is selling as many of these new units as possible in the marketplace.We have implemented the personnel changes I mentioned where needed, and we're out there every day pitching both the new and existing clients on this freshly launched BOHA! Terminal 2. We've also made some excellent progress revamping the sales motions and GTM strategy. And while this is an iterative process that will continue to take time, we've already been seeing beginning promises of momentum and some preorders of the new terminal from some of our existing customers.As I mentioned, after digging in a bit, I frankly found a lot of room for improvement in this GTM and its execution. While they were far from optimal, the good news is that these things are relatively all easily fixable. It's not rocket science. We just have to do it and that's why it took moving around a few people and creating a little bit of focus where one many. However, given the long sales cycle, it still is going to take time for the good work to manifest the results.Further, as I discussed last quarter, we are very happy with the BOHA! Terminal 2. The product turned out bigger, faster, brighter, more capable and frankly, just a lot playing better than the original. And we're happy as well with the positive reception we've gotten from those customers and clients who have trialed it so far.We believe that there's a large opportunity within the existing installed customer base who are looking to upgrade from our older AccuDate 9700 product and to some extent, our earlier original BOHA! Terminal as well. As a reminder, the BOHA! sales cycle is long, I've already said that, and it's complex, but it pays dividends. And when the headquarters grants us a green light to engage with their franchisees, this typically is the case with most of the established franchises. And so once they say, yes, it's okay, we've authorized it, we've approved it, then that gives us an opportunity to go out to the individual franchisees and introduce them to the unit and basically hope for upsell and uptake. And that is really key and we're well on the way to getting some of those approvals at some of our key accounts. And we're optimistic that the approvals will begin to yield results towards the back end of 2020 -- the year -- this year and on into 2024. Next, on the casino and gaming side. We saw total casino and gaming revenue of $12.2 million, up 87% year-over-year but down 23% sequentially from the all-time high we saw in the first quarter. There are 2 main reasons for that, the sequential decline: first, we had predicted -- as we predicted on our last call, we did see the first signs of our major competitor reentering the market and they did make some deliveries of their product in the last quarter, not a lot, but some.Second, the order rate and backlog additions to our books are certainly slowing, which we believe is a result of the slot OEMs having built a large inventory position of printers in the first half of 2023. And as supply chain tensions eased, combined with the fact that some OEMs had over ordered printers just in case supply chain problems continued, we are no longer seeing manufacturers placing orders 6 to 9 months out as we had previously.So we were certainly at the right place at the right time with the ability to capitalize on this influx of pent-up demand during the market recovery. And we believe this benefit -- will benefit us beyond the short-term spike in sales and profitability that was created earlier this year. We're not resting on our laurels, as you say. We have increased our casino and gaming sales staff and are actively going out to our new customers in an effort to retain as much of the market share gain as possible. A portion of those new customers will certainly become long-term buyers for our printers.However, we also expect to reduce pricing a little bit on these products in order to make sure that we stay competitive in the marketplace as much as possible. The prize here is a new baseline sales level as a result of the permanent increase in market share. We believe we are well positioned to capture that demand going forward. And at this stage, we would estimate that our go-forward net sales run rate in the market should be about 15% to 20% higher than our pre-COVID historical average. And we would expect this new run rate to be fully reflected in the fourth quarter of this year and on into 2024.Further, we hope to see some benefit from our newest casino and gaming printer to call the EPIC 888, which we believe will help us retain some of these new customers. We expect to launch this at the end of -- towards the end of the year. That launch, et cetera, will happen publicly at some point, but it's a really nice looking unit and we expect it to be a nice boost to some of the gaming and casino customers.Finally, I wanted to discuss our outlook for the rest of 2023 and provide some color on how we are seeing the business progress. As I discussed, we are, in fact, seeing the downward trajectory of casino and gaming that we did expect and spoke about last quarter, while we're taking strong action to retain as much of that business as possible. The reality is the return of our competitors as well as price reductions that we're talking about will continue to impact both our net sales and profitability on adjusted EBITDA.As such, we have decided the most prudent approach to our guidance is to maintain our current net sales guidance of $71.5 million to $73.5 million and raised our adjusted EBITDA guidance to a range of $8 million to $8.5 million for the full year 2023. These ranges take into account all of the points I have mentioned today. There's still work to be done here at TransAct, but I'm pleased with our results for the quarter and believe the company is now moving in the right direction as a whole. I believe the pieces are in place across the company from a personnel perspective but again, the impact does take time.Our rebuilt FST, food service technology sales team and newly reinforced casino and gaming sales teams are now in the best position to capitalize on opportunities in front of us. And our sales cycles, particularly for FST take time, but the feedback we're getting early on is very encouraging for preorders on the BOHA! Terminal 2. While as predicted, our competitive environment in casino and gaming began to normalize in the quarter, the printer sales began to decelerate with OEMs no longer stockpiling. We are hard at work to nurture these new customer relationships to retain as much of that share as possible. So that's pretty much it. And now I'd like to turn the call over to Steve for a more detailed review of the numbers. Steve?Steven A. DeMartinoThanks, John. Thanks, everyone, for joining us this afternoon. Let's turn to our second quarter '23 results in more detail. As John mentioned, total net sales for the second quarter were $19.9 million, which was up 58% compared to the $12.6 million we reported a year ago. Sales from our food service technology market or FST, for the second quarter were $3.9 million, which was up 13% sequentially and also up 14% compared to $3.4 million in the prior year period. The increase was largely due to higher shipments of labels in our AccuDate 9700 product as well as record high BOHA! software subscription revenue.As John mentioned, we added 743 terminals in the second quarter, which gave us 13,476 in the market at the end of the quarter. While we're encouraged by the sequential increase in our FST sales, our sales initiatives will take time to implement and then flow through to our bottom line results. So we believe this number may continue to be lumpy for a while. Our recurring FST sales, which includes software and service subscriptions as well as consumable label sales for the second quarter were $2.5 million, which was up 14% compared to $2.2 million in the prior year period.Our ARPU for the second quarter of '23 was $782, which was down 9% compared to $861 in the second quarter of last year, but up sequentially by 3% compared to $761 in the first quarter. As a reminder, we're currently selling some BOHA! Terminals with no recurring revenue attached to them to start. While this presents an opportunity to sell recurring elements in the future, for now, they represent a drag on our ARPU.Our casino and gaming sales were $12.2 million, which was up 87% from the second quarter of '22, but down sequentially 23% from the first quarter record high at $15.8 million. As John mentioned, this is due to a combination of the gradual reentry of our major competitor into the market as well as OEMs working down high levels of printer inventory they stockpiled during the supply crisis that's now eased.Despite these factors, we continue to see strength in our domestic sales, which were up 141% year-over-year. POS automation sales for the second quarter increased by 63% from the prior year $1.9 million -- to $1.9 million. This was the result of higher Ithaca 9000 sales as compared to this time last year when sales were limited due to supply chain issues that restricted our product availability. We expect sales in this market to return to more normalized levels as competitors begin ramping production and we lower prices to remain competitive.Moving to TransAct Services Group or TSG, sales. For the second quarter, TSG sales were up 30% year-over-year to $1.9 million. This increase was largely due to higher sales of spare parts and service for our legacy lottery printers. Though we had a strong second quarter, sales of legacy lottery printer spare parts can be sporadic, difficult to predict and can vary significantly from quarter-to-quarter.Moving down the income statement. Our second quarter gross margin was 54.5%, down slightly from a record high of 55% in the prior year quarter, but up from 43% in the prior year period. This comes as a result of higher overall sales volume, improved mix of higher margin in casino and gaming printer sales and the effect of 2 rounds of price increases we instituted during '22 to account for increased production and shipping cost at the time.However, as John mentioned, we expect to see some modest deleveraging of our gross margin due to expected price reductions across certain products, particularly in casino and gaming. As a result, looking forward to the second half of '23, we expect our gross margin to return to a level closer to our historical pre-COVID average. Our total operating expenses for the second quarter increased 15% to $9.6 million. Excluding a severance charge, which I'll talk about in a bit, our operating expenses decreased 3%. Breaking this down a bit, our engineering and R&D expenses for the second quarter increased 15% to $2.5 million. The increase was largely due to higher incentive compensation as well as additional software quality resources and increased outside testing fees.Our selling and marketing expenses decreased 19% to $2.7 million for the second quarter on a year-over-year basis, largely due to reduced trade show expenses and BOHA! market studies conducted in the first half of '22 that we did not repeat in '23.Lastly, our G&A expenses increased 52% to $4.4 million for the second quarter. The increase was largely due to a onetime severance charge of $1.5 million related to the resignation of our former CEO in April. Excluding this charge, G&A expenses would have been relatively flat at approximately $3 million, up only 2% year-over-year. We generated operating income of $1.2 million in the second quarter '23 compared to an operating loss of $3 million in the prior year period.Our results last year were negatively impacted by lower sales volume associated with the COVID-related supply chain issues. On the bottom line, we recorded net income of $765,000 or $0.08 per diluted share compared to a net loss of $2.4 million or $0.24 loss per diluted share in the year ago period. Excluding the $1.5 million severance charge I just discussed, our EPS would have been $0.22 for the current quarter.Our adjusted EBITDA for the quarter improved to $3.2 million compared to an adjusted EBITDA loss of $2.5 million in the second quarter last year. As John mentioned, for '23, we now expect to generate total adjusted EBITDA of between $8 million and $8.5 million. And lastly, on the balance sheet, we finished the quarter with $10.8 million in cash and $2.25 million of debt outstanding on our credit facility with Siena Lending. And with that, operator, I think we'd like to open up the call for questions.Question and Answer SessionOperator(Operator Instructions). Your first question comes from Jeff Martin, Roth MKM.Jeffrey Michael MartinHope you're doing well. John, I wanted to dig in a little bit more on what's changed with the go-to-market, how quickly that starts to produce changes in behavior and then ultimately, improved sales results?John M. DillonYes. There's a lot of stuff that you can do relative to marketing automation to use that as kind of -- you go out and you try to find somebody that's got some possibility of being interested in your product ultimately and you've got to work it all the way to the port where you close a deal. And then frankly, you've got to treat that customer well. So I call that from A to A, from awareness to advocacy. And we just really had a disconnect in my opinion, between marketing and sales.The market opportunity is big, but we really didn't have our arms around it. And so we've implemented a number of what I would call GTM metrics related to funnel management, everything from awareness to nurture track to marketing qualified leads to sales-qualified leads and then ultimately turning over sort of conversation ready opportunities to the sales team. And you can't take a salesperson and say, well, there's a lot of potential customers out there, go get them and have them basically making all the cold calls and yet you're still doing a bunch of trade shows and getting a bunch of people to scan badges.And so we are putting a process in place that sort of manages that, looks at the yield at every step and then figures out is it getting better? Is it getting worse? What's work and what's not and how do we improve where it's not working as well as it should be and how do we do more of the stuff that works well. And this is just something that we didn't do much of.A couple of other things are, I'm gradually implementing some metrics that I think for those of you and the investors that track companies that deliver services. I think you're going to see us reporting on attrition and expansion, net retention even customer acquisition costs and a lot of things that you find in most of the modern SaaS companies, I'm pretty familiar with most of those things. And we're creating an awareness in the team around all that and we're also finding some of the marketing initiatives that we've undertaken don't yield the best results or that the results are very expensive, and some of the other ones are easy to do and we get better results and the yield -- the conversion yields are much better.So a lot of the focus has been on that. We've got a great product and there's a big more or less untapped market opportunity. And that's kind of what we -- where we're putting a lot of the -- a lot of that sort of the business process focuses in place there. And it's underway, I've got a great Chief Revenue Officer. She's been with us for quite a while, but she knows all about the company, and she's kind of a take no prisoners, kind of a manager in a good way. She's got great bedside manage, but she's expecting the sales team to produce. And we've made some personnel changes. We've moved some people around. And one of the things that the 2 businesses are different, but one of the things we are focused on is account retention and continued market share penetration into the gaming and casino space, where it's a more steady eddy kind of business, but we picked up a fair amount of extra market share in the last year. And that's a keen area as well. So we're not taking our eye off that ball as well.Jeffrey Michael MartinGreat. And then one more, if I could. In terms of FST markets, where they stand, are large restaurant groups looking to deploy further technology at this time? Or are we still in an environment where inflation costs related to input and labor are still affecting their decision-making. And then maybe you could touch on like convenience store and like the grocery market in terms of touching on the major end markets for FST in terms of the receptiveness in this environment?John M. DillonWell, I think the restaurant space is still back on its heels a little bit. Prices are up. Most of them are focused on the front of the house right now. That's a more immediate payback kind of thing. I just read the toast print and it looks good. They've done a really good job, in my opinion. We see that market opportunity coming back, we're engaged. And if you get into the quick-serve restaurants, I mean, some of the large chains are very good candidates for us. I will mention because it's been mentioned before, one of the large ones is buying again from us. They kind of slowed down while they were revamping some of their stores.We're having good conversations with some of the other large groups but in terms of your fine dining and those sorts of opportunities where maybe they've got a handful of stores or maybe 20 or 30 or 40 or 50 stores. We're focused now predominantly on the larger chains and the larger restaurant operators because the effort to sell there is pretty much the same calorie investment as it is if we're trying to get somebody who's got 30 stores. If we do get a green light from some of the franchises, the headquarters, on a couple of these large ones where the individual franchisees have an opportunity to actually decide, yes, I do want to use this. I think you're going to see -- I wouldn't call it floodgates open, but I would say I think you're going to see a real steady uptick in business throughout those franchise organizations.Right now, Grab and Go grocery store, Sushi as an example and food service managers or easier sales right now. I mean, everybody is still eating food and adds everything from compliance, we help you with compliance, we help you by eliminating food waste, we help you by reducing labor, and we help you by not making mistakes. And frankly, a lot of these places have a lot of head count turnover and the ability to use these systems to train people or to make sure that they don't make the errors really makes a difference.And the economics and the ROI on the product is actually pretty excellent. So we're focusing right now where there's more low-hanging fruit. We've just done a pretty extensive market review where we're looking at the top x number of companies in every one of the different buckets. And we kind of know where we've been, where we haven't been and who needs us and who doesn't, and that's part of the go-to-market strategy that we've kind of implemented. We're targeting both the sales and marketing teams at the place where we -- the places where we think the greatest opportunity, if that makes sense.Operator(Operator Instructions). Your next question comes from George Sutton, Craig-Hallum.George Frederick SuttonJohn, just a follow-up on something you just mentioned. You talked about the ROI being excellent for the BOHA! Terminals. I've not seen anything published or really discussed relative to ROI. So how do you actually communicate that?John M. DillonVerbally, unfortunately, that's an area from a marketing standpoint that we're up leveling. We got a great product technically. We're very proud of it. We got great engineers. But feeds and speeds isn't why managers buy stuff. They buy it because of the business value it adds. And one of the things that I have encountered is that you can look at a brochure from TransAct and candidly, it talks about a nice bright screen, talks about 300 dpi printing. It talks about how reliable it is and those are all really important. But at the end of the day, you want to apply those things to some business problem you've got in your operation.And I'm working to -- if you will, add the business value dimension to our go-to-market from a sales team, whether it's prospecting, proof of concept or even here's the ROI on how much it's going to save if you buy one of these things. And frankly, the terminals easily pay for themselves in a matter of a few months, and we don't really market that way. And I think that's something that you're going to see that be part of the pointy end of the spear as we move forward.George Frederick SuttonGreat. You mentioned that with the BOHA! 2, you've got an ability to go after some of your existing terminals out there. Can you just give us a sense of AccuDate, how many of those are out there in the market that you would view as opportunistic? And if I'm specifically looking at the BOHA! 1, a relevant number there as well.John M. DillonSteve, do you want to hit that one, because you got the numbers? .Steven A. DeMartinoYes, George, probably I think we're mainly talking about our first gen, replacing the 9700, and there's tens of thousands of those out there.John M. DillonThe difference between those 2 is the 9700 a stand-alone unit. Works great, very reliable, good little workhorse, but it's not online, it's not connected. And ultimately, my opinion is the BOHA! Terminal can be a platform in the back of the house. And frankly, you could run any software you wanted to run. And so the fact that it's connected and for large organizations that have multiple stores, the ability to have sort of one menu as it were or different menus in different geographies or to be able to upload stats on this that and the other thing. There's just a big difference between having interconnectivity of the BOHA! Terminal 2 and the older 9700.So we're pretty excited about that. We think we're going to get a lot of upgrades. The downside in all of this is a gang products we make are so darn reliable. That I love it on one hand, but on the other hand, no break. There's no planned obsolescence in these things. We've got printers out there doing workhorse printers that are out there have been working hard at work for 10 years. And we're just waiting for the customer to follow and say, it broke, could you get me another one. But with the 9700, the upgrade to being fully connected and being able to do some of the things like you can do today in the 21st century I think, ultimately, it's going to be really important for the organizations that want to use technology to gain competitive advantage.George Frederick SuttonGot you. And then final question relative to the printer side. When supply chain normalized and you were able to start shipping, you built fairly significant production capacity added lines, et cetera. Can you just give us an update on what your plans are for -- from a production capacity perspective?John M. DillonWe've got pretty good production capacity. It's all CM, contract manufacturing, and they are pretty elastic. So in that regard, we're in pretty good shape. We're probably going to add a fourth line in a different country. We haven't made an economic decision as to where is best. We've moved almost 100% -- almost -- not all, 100% of our manufacturing is not in China, but there's a little bit of stuff still left there. But I think we're going to pick another location. It may be in Asia, but that we might find an opportunity to do some manufacturing in the Americas. I haven't decided that yet, but we like the flexibility.We've got a really good engineering team and manufacturing and operations team. It's one of the areas where it ain't broke and don't fix it. And as you saw, I mean, we did marvelously well during the recovery from the pandemic when most companies couldn't ship, didn't have product, could be that part and we were able to come through on that front. And I give the team enormous kudos for being able to work their way through that. And as I mentioned in the call, I think we're going to retain easily 10% to 15% increase in market share, at least in the gaming and casino printing business.OperatorThere are no further questions at this time. Please proceed.John M. DillonSo let me wrap this up here. Bottom line, I think we put together a pretty solid quarter. I think we're doing a lot of the right work to put the company on the right track. And I mentioned that we've retooled the FST go-to-market piece, manufacturing is in good shape. We're watching expenses and optimizing the spend on marketing, the spend on sales and the new terminal, the BOHA! Terminal 2 looks to be a winner, and we're taking that to market.The only other thing I'd say is I'm not done figuring out everything that I think we need to be doing here, ultimate strategy, tactics and the like. I'm 127 days in here. But we're going to be formulating and are formulating our thoughts and plans going forward. And you'll probably see us discuss things like strategy issues, initiatives and this, that and the other thing. Probably either later in this quarter or very early in Q4 after we do our earnings announcement where we really want to give the stakeholders an understanding of the opportunity ahead the future, the trade-offs and the opportunities and what we believe are the best courses of action. So that's something to be determined yet to work in progress. And I would hope everybody will stay tuned and give us a little more time to sort of vet the future and communicate that transparently to the stakeholders and that's all I have.OperatorThank you. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.

Thomson Reuters StreetEvents

Q2 2023 TransAct Technologies Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-transact-technologies-inc-104328713.html

5b6b7470-b777-3bd5-9c64-3add8a29beed

TACT

TransAct Technologies Incorporated (NASDAQ:TACT) Q2 2023 Earnings Call Transcript August 9, 2023TransAct Technologies Incorporated beats earnings expectations. Reported EPS is $0.22, expectations were $0.11.Operator: Good afternoon, ladies and gentlemen, and welcome to the TransAct Technologies Q2 2023 Earnings Conference Call. [Operator Instructions]. This call is being recorded on Wednesday, August 9, 2023, and I would now like to turn the conference over to Ryan Gardella, Investor Relations. Please go ahead.Ryan Gardella: Thanks, Chris. Good afternoon, and welcome to TransAct Technologies Second Quarter 2023 Earnings Call. Today, we'll be discussing the results announced in our press release issued after market close. Joining us from the company is CEO, John Dillon and President and CFO, Steven DeMartino. Today's call will include a discussion of the company's key operating strategies, progress on those initiatives and details on our second quarter financial results. We will then open the call to participants for questions. As a reminder, this conference call contains statements about future events and expectations, which are forward-looking in nature. Statements on this call may be deemed as forward-looking and actual results may differ materially.For a full list of risks inherent to the business and the company, please refer to the company's SEC filings, including its reports on Forms 10-K and 10-Q. TransAct undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances that occur after the call. Today's call and webcast will include non-GAAP financial measures within the meaning of SEC Regulation G. When required, reconciliation of all non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP can be found in today's press release as well as on the company website. And with that, I'd like to turn the call over to John.Story continuesJohn Dillon: Thank you, Ryan. Good afternoon, everyone, and thanks for joining today. Last time, I had a chance to present to you all, I was only about a month into the job as CEO for TransAct. And now 127 days, I counted them up and I've had at least a little bit more of an opportunity to roll up my sleeves and dig into some of the work in earnest. So I'm happy with the progress we've made and I'm going to share some of that with you today. At a high level, the results came in as expected and discussed on the last call. Net sales came in at $19.9 million. Year-over-year, the increase was approximately 58% but it was a sequential decline of approximately 11% from the first quarter as we expected. And we've all tried to work hard setting the stage for success in the back half of the year and more importantly, on into '24 and beyond.Last quarter, I talked about the fundamental goodness I found here at TransAct and as well as some of the parts of the business that were going to require some action to allow us to take advantage of the opportunities up ahead in the market. I can say that we're always done revamping the parts of the business where that needed to be done. And we've added some new internal process where there was none before. We have moved some personnel around. We've let a few go. We've added a few. I like the progress we've made and I feel that we're fully ready to add some much-needed momentum for the business. The reality is that our sales teams, processes and go-to-market GTM strategies really required a pretty significant overhaul. And I'm really happy to say that the first phase of that is largely complete.I also feel confident that we now have the right people in the right places and we can now turn our attention to the other parts of the equation, predominantly focusing on execution. While change takes time and shifting behaviors and habits in any business can be a long game, I'm pretty confident that we're now moving all in the right direction. Let me go over some of the results from our 2 markets. First, on our food service technology or FST market, FST revenue was $3.9 million, up about 14% year-over-year. This was led primarily by higher shipments of our AccuDate 9700 product and increased label sales. We also added 743 net new BOHA! Terminals in the quarter, bringing the total number of our online terminals in the market up to 13,476 as of the end of the quarter, June 30, 2023.So that's up from 10,941 in the prior period a year ago. And honestly, I know we can improve on these numbers and that's one of the focuses that's pretty key for me. Our FST sales team is rebuilt and is refocused on the #1 priority, which is selling as many of these new units as possible in the marketplace. We have implemented the personnel changes I mentioned where needed, and we're out there every day pitching both the new and existing clients on this freshly launched BOHA! Terminal 2. We've also made some excellent progress revamping the sales motions and GTM strategy. And while this is an iterative process that will continue to take time, we've already been seeing beginning promises of momentum and some preorders of the new terminal from some of our existing customers.As I mentioned, after digging in a bit, I frankly found a lot of room for improvement in this GTM and its execution. While they were far from optimal, the good news is that these things are relatively all easily fixable. It's not rocket science. We just have to do it and that's why it took moving around a few people and creating a little bit of focus where one many. However, given the long sales cycle, it still is going to take time for the good work to manifest the results. Further, as I discussed last quarter, we are very happy with the BOHA! Terminal 2. The product turned out bigger, faster, brighter, more capable and frankly, just a lot playing better than the original. And we're happy as well with the positive reception we've gotten from those customers and clients who have trialed it so far.We believe that there's a large opportunity within the existing installed customer base who are looking to upgrade from our older AccuDate 9700 product and to some extent, our earlier original BOHA! Terminal as well. As a reminder, the BOHA! sales cycle is long, I've already said that, and it's complex, but it pays dividends. And when the headquarters grants us a green light to engage with their franchisees, this typically is the case with most of the established franchises. And so once they say, yes, it's okay, we've authorized it, we've approved it, then that gives us an opportunity to go out to the individual franchisees and introduce them to the unit and basically hope for upsell and uptake. And that is really key and we're well on the way to getting some of those approvals at some of our key accounts.And we're optimistic that the approvals will begin to yield results towards the back end of 2020 -- the year -- this year and on into 2024. Next, on the casino and gaming side. We saw total casino and gaming revenue of $12.2 million, up 87% year-over-year but down 23% sequentially from the all-time high we saw in the first quarter. There are 2 main reasons for that, the sequential decline: first, we had predicted -- as we predicted on our last call, we did see the first signs of our major competitor reentering the market and they did make some deliveries of their product in the last quarter, not a lot, but some. Second, the order rate and backlog additions to our books are certainly slowing, which we believe is a result of the slot OEMs having built a large inventory position of printers in the first half of 2023.And as supply chain tensions eased, combined with the fact that some OEMs had over ordered printers just in case supply chain problems continued, we are no longer seeing manufacturers placing orders 6 to 9 months out as we had previously. So we were certainly at the right place at the right time with the ability to capitalize on this influx of pent-up demand during the market recovery. And we believe this benefit -- will benefit us beyond the short-term spike in sales and profitability that was created earlier this year. We're not resting on our laurels, as you say. We have increased our casino and gaming sales staff and are actively going out to our new customers in an effort to retain as much of the market share gain as possible. A portion of those new customers will certainly become long-term buyers for our printers.However, we also expect to reduce pricing a little bit on these products in order to make sure that we stay competitive in the marketplace as much as possible. The prize here is a new baseline sales level as a result of the permanent increase in market share. We believe we are well positioned to capture that demand going forward. And at this stage, we would estimate that our go-forward net sales run rate in the market should be about 15% to 20% higher than our pre-COVID historical average. And we would expect this new run rate to be fully reflected in the fourth quarter of this year and on into 2024. Further, we hope to see some benefit from our newest casino and gaming printer to call the EPIC 888, which we believe will help us retain some of these new customers.We expect to launch this at the end of -- towards the end of the year. That launch, et cetera, will happen publicly at some point, but it's a really nice looking unit and we expect it to be a nice boost to some of the gaming and casino customers. Finally, I wanted to discuss our outlook for the rest of 2023 and provide some color on how we are seeing the business progress. As I discussed, we are, in fact, seeing the downward trajectory of casino and gaming that we did expect and spoke about last quarter, while we're taking strong action to retain as much of that business as possible. The reality is the return of our competitors as well as price reductions that we're talking about will continue to impact both our net sales and profitability on adjusted EBITDA.Copyright: dizanna / 123RF Stock PhotoAs such, we have decided the most prudent approach to our guidance is to maintain our current net sales guidance of $71.5 million to $73.5 million and raised our adjusted EBITDA guidance to a range of $8 million to $8.5 million for the full year 2023. These ranges take into account all of the points I have mentioned today. There's still work to be done here at TransAct, but I'm pleased with our results for the quarter and believe the company is now moving in the right direction as a whole. I believe the pieces are in place across the company from a personnel perspective but again, the impact does take time. Our rebuilt FST, food service technology sales team and newly reinforced casino and gaming sales teams are now in the best position to capitalize on opportunities in front of us.And our sales cycles, particularly for FST take time, but the feedback we're getting early on is very encouraging for preorders on the BOHA! Terminal 2. While as predicted, our competitive environment in casino and gaming began to normalize in the quarter, the printer sales began to decelerate with OEMs no longer stockpiling. We are hard at work to nurture these new customer relationships to retain as much of that share as possible. So that's pretty much it. And now I'd like to turn the call over to Steve for a more detailed review of the numbers. Steve?Steven DeMartino: Thanks, John. Thanks, everyone, for joining us this afternoon. Let's turn to our second quarter '23 results in more detail. As John mentioned, total net sales for the second quarter were $19.9 million, which was up 58% compared to the $12.6 million we reported a year ago. Sales from our food service technology market or FST, for the second quarter were $3.9 million, which was up 13% sequentially and also up 14% compared to $3.4 million in the prior year period. The increase was largely due to higher shipments of labels in our AccuDate 9700 product as well as record high BOHA! software subscription revenue. As John mentioned, we added 743 terminals in the second quarter, which gave us 13,476 in the market at the end of the quarter.While we're encouraged by the sequential increase in our FST sales, our sales initiatives will take time to implement and then flow through to our bottom line results. So we believe this number may continue to be lumpy for a while. Our recurring FST sales, which includes software and service subscriptions as well as consumable label sales for the second quarter were $2.5 million, which was up 14% compared to $2.2 million in the prior year period. Our ARPU for the second quarter of '23 was $782, which was down 9% compared to $861 in the second quarter of last year, but up sequentially by 3% compared to $761 in the first quarter. As a reminder, we're currently selling some BOHA! Terminals with no recurring revenue attached to them to start. While this presents an opportunity to sell recurring elements in the future, for now, they represent a drag on our ARPU.Our casino and gaming sales were $12.2 million, which was up 87% from the second quarter of '22, but down sequentially 23% from the first quarter record high at $15.8 million. As John mentioned, this is due to a combination of the gradual reentry of our major competitor into the market as well as OEMs working down high levels of printer inventory they stockpiled during the supply crisis that's now eased. Despite these factors, we continue to see strength in our domestic sales, which were up 141% year-over-year. POS automation sales for the second quarter increased by 63% from the prior year $1.9 million -- to $1.9 million. This was the result of higher Ithaca 9000 sales as compared to this time last year when sales were limited due to supply chain issues that restricted our product availability.We expect sales in this market to return to more normalized levels as competitors begin ramping production and we lower prices to remain competitive. Moving to TransAct Services Group or TSG, sales. For the second quarter, TSG sales were up 30% year-over-year to $1.9 million. This increase was largely due to higher sales of spare parts and service for our legacy lottery printers. Though we had a strong second quarter, sales of legacy lottery printer spare parts can be sporadic, difficult to predict and can vary significantly from quarter-to-quarter. Moving down the income statement. Our second quarter gross margin was 54.5%, down slightly from a record high of 55% in the prior year quarter, but up from 43% in the prior year period. This comes as a result of higher overall sales volume, improved mix of higher margin in casino and gaming printer sales and the effect of 2 rounds of price increases we instituted during '22 to account for increased production and shipping cost at the time.However, as John mentioned, we expect to see some modest deleveraging of our gross margin due to expected price reductions across certain products, particularly in casino and gaming. As a result, looking forward to the second half of '23, we expect our gross margin to return to a level closer to our historical pre-COVID average. Our total operating expenses for the second quarter increased 15% to $9.6 million. Excluding a severance charge, which I'll talk about in a bit, our operating expenses decreased 3%. Breaking this down a bit, our engineering and R&D expenses for the second quarter increased 15% to $2.5 million. The increase was largely due to higher incentive compensation as well as additional software quality resources and increased outside testing fees.Our selling and marketing expenses decreased 19% to $2.7 million for the second quarter on a year-over-year basis, largely due to reduced trade show expenses and BOHA! market studies conducted in the first half of '22 that we did not repeat in '23. Lastly, our G&A expenses increased 52% to $4.4 million for the second quarter. The increase was largely due to a onetime severance charge of $1.5 million related to the resignation of our former CEO in April. Excluding this charge, G&A expenses would have been relatively flat at approximately $3 million, up only 2% year-over-year. We generated operating income of $1.2 million in the second quarter '23 compared to an operating loss of $3 million in the prior year period. Our results last year were negatively impacted by lower sales volume associated with the COVID-related supply chain issues.On the bottom line, we recorded net income of $765,000 or $0.08 per diluted share compared to a net loss of $2.4 million or $0.24 loss per diluted share in the year ago period. Excluding the $1.5 million severance charge I just discussed, our EPS would have been $0.22 for the current quarter. Our adjusted EBITDA for the quarter improved to $3.2 million compared to an adjusted EBITDA loss of $2.5 million in the second quarter last year. As John mentioned, for '23, we now expect to generate total adjusted EBITDA of between $8 million and $8.5 million. And lastly, on the balance sheet, we finished the quarter with $10.8 million in cash and $2.25 million of debt outstanding on our credit facility with Siena Lending. And with that, operator, I think we'd like to open up the call for questions.See also 15 Best Large-Cap Value Stocks To Buy and 20 Countries with the Highest Wheat Consumption.To continue reading the Q&A session, please click here.

Insider Monkey

TransAct Technologies Incorporated (NASDAQ:TACT) Q2 2023 Earnings Call Transcript

https://finance.yahoo.com/news/transact-technologies-incorporated-nasdaq-tact-152318849.html

364db2d0-e5ce-31c5-ac7b-6439b5ee0676

TAP

What stood out about the acquisition of Blue Run Spirits by Molson Coors Beverage Company a month ago? According to those in the know, its expediency.Continue reading

American City Business Journals

Boilermaker in the making: How Blue Run Spirits paired up with Molson Coors

https://finance.yahoo.com/m/af5aa2ed-5a66-3a67-b2a0-8662f6d90b61/boilermaker-in-the-making-.html

af5aa2ed-5a66-3a67-b2a0-8662f6d90b61

TAP

The fan-fueled fall combo — beer and football — is back.As the NFL season kicks off on Thursday, fans are eager to see the Kansas City Chiefs play the Detroit Lions. But there's another showdown happening: the "beer battles" as Anheuser-Busch InBev's Bud Light (BUD) aims to win back once-loyal consumers."We're going to see an amazing competitive battle this fall," Tim Calkins, a marketing professor at Northwestern University, told Yahoo Finance. "People will be very focused on the football games, but I think the beer battles might be more interesting."The NFL season will be crucial for AB InBev after months of declining sales. And the company appears ready to shell out on advertisements featuring "safe terrain" subjects such as the NFL and fan experience, Calkins added.Bud Light debuts its biggest NFL campaign yet, called “Easy to Sunday.” (Courtesy: Anheuser-Busch)In one of the brand’s biggest NFL campaigns ever, called "Easy to Sunday," Bud Light is focusing on beer-drinking die-hard footfall fans, reminding consumers it's the official NFL sponsor."Bud Light is likely to spend an enormous amount of money to try to rebuild its brand after the shocking declines earlier this year," Calkins said. "The competitors are going to work very hard to make it difficult for Bud Light to do that."Bud Light sales 'reached a point of stabilization'This football season, beer brands are entering "uncharted waters," Bump Williams of Bump Williams Consulting told Yahoo Finance."We've always seen Bud Light as No. 1," Williams added. But for the past 15 to 16 weeks that tale has turned, and Bud Light is struggling to make it to the end zone of a challenging year.Sales of Bud Light declined sharply in May after a marketing campaign with transgender influencer Dylan Mulvaney sparked a widespread boycott, causing it to lose the top spot to Modelo in May.This content is not available due to your privacy preferences.Update your settings here to see it.Several months later, Bud Light sales are still down 26.9% compared to last year, according to Bump Williams Consulting data, while competitors such as Coors Light (TAP) continue to get a boost, up 21.3%.Story continues"Tracked channels have reached a point of stabilization at significantly lower levels for Anheuser-Busch InBev than pre-controversy," Robert Ottenstein, senior managing director and partner at Evercore ISI, wrote in a note to clients.Meanwhile, Anheuser-Busch InBev's other brands — including Michelob Ultra and Busch Light — improved slightly, though "both remain below pre-controversy levels as the boycotts on ABI’s greater portfolio continue at a lesser magnitude," Ottenstein said.If current trends continue, Ottenstein added it raises the possibility of "significant structural changes" in the industry.Consequently, Bud Light is trying to "salvage some kind of positive year for their portfolio," Williams said.Philadelphia Eagles' Jason Kelce chugs a Bud Light during the first round of the NFL Draft on April 27, 2023, at Union Station in Kansas City, Mo. (Scott Winters/Icon Sportswire via Getty Images)Bud Light hoping to 'recapture' positive associationsIn its new ad campaign, Bud Light shares lifetime football fans' rituals around the sport and drinking beer.Daniel Korschun, a marketing professor at Drexel University, said this is a typical marketing tool, tapping into emotions and nostalgia by highlighting real people, such as a Philadelphia Eagles fan and military veteran."It's really the art of building associations between the brand, ... thoughts, emotions, and experiences that then drive purchase behavior," Korschun said. "In this case, they're saying, 'We had these strong connections before. ... We're going to recapture those associations and rebuild them.'"Stefanie Boyer, a marketing professor at Bryant University, noted that the campaign demonstrates that Bud Light is refocusing its audience: "They're really working hard to try to reach their fans, to try to show their fans that they know them."However, Bud Light sales aren't likely to rebound right away."I suspect it's going to be a very slow process ... as all the controversy fades into the past," Calkins said. "I think you'll see people begin to reach for Bud Light a little bit more. The brand has so much history. ... They're going to rebuild, but it's going to take a long time to do that."Miller Lite’s new 15-second spot is set to launch this week ahead of the NFL’s first week of regular-season play. (Courtesy: Molson Coors)It may already be too late. Molson Coors is determined to hold on to the market share it gained.The AB InBev rival, which is now getting into other beverages and spirits, is increasing its marketing spend by $100 million for the rest of 2023. It's also kicking off the season with a 15-second Miller Lite ad spot, focusing on fans gearing up for a big game. A Coors Light ad is set to debut later this season too."The market share that Bud Light lost went to these other brands," Calkins said. "Now the challenge for the other brands is to hang on to it."—Brooke DiPalma is a reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at [email protected] the latest financial and business news from Yahoo Finance

Yahoo Finance

As NFL football returns, Bud Light will spend 'enormous amount' to win back beer drinkers

https://finance.yahoo.com/news/as-nfl-football-returns-bud-light-will-spend-enormous-amount-to-win-back-beer-drinkers-230018956.html

59b7b797-a5b3-4915-a350-3952021951d0

TASK

TaskUs Holdings, Inc.NEW BRAUNFELS, Texas, Aug. 23, 2023 (GLOBE NEWSWIRE) -- TaskUs, Inc (Nasdaq: TASK), a leading provider of outsourced digital services and next-generation customer experience to the world's most innovative companies, was recognized as a Major Contender in Everest Group's Banking Operations - Service PEAK Matrix® Assessment 2023. The recognition of TaskUs' Risk + Response business, appearing in this report for the first time among significantly larger and more established competitors, reflects its achievements in helping banks fight new forms of online fraud and financial crime and the cost of complying with increasing regulatory complexity.TaskUs' Risk + Response works with large and innovative banks across the ecosystem, providing digital identity verification, fincrime compliance, and anti-fraud solutions. The company seamlessly integrates a geographically dispersed workforce with robust technological proficiencies, further strengthened by strategic collaborations with Hummingbird RegTech—an advanced compliance platform—and Quavo, the world’s leading provider of automated, cloud-based fraud and dispute SaaS solutions."Enterprises are proactively gearing up for future demands by using outsourcing organizations such as TaskUs to bolster their agility and resilience," noted Sean Neighbors, Senior Vice President for TaskUs Global Offerings. "We help businesses navigate business demand and preempt market shifts by leveraging offensive and defensive strategies to combat concerns such as the rise in financial crimes due to AI.""Amid shifting interest rates and decreased loan volumes, clients are prioritizing digital prowess for heightened resilience in advance of the next market upswing," said Pragya Agarwal, Global Head of TaskUs Risk + Response. "We're pleased Everest Group and our clients recognize we are a Major Contender in banking practices and agile technology through our top-tier partners."Story continuesAbout TaskUsTaskUs is a leading provider of outsourced digital services and next-generation customer experience to the world’s most innovative companies, helping its clients represent, protect and grow their brands. Leveraging a cloud-based infrastructure, TaskUs serves clients in the fastest-growing sectors, including social media, e-commerce, gaming, streaming media, food delivery and ride-sharing, Technology, FinTech and HealthTech. As of June 30, 2023, TaskUs had a worldwide headcount of approximately 47,000 people across 27 locations in 13 countries, including the United States, the Philippines and India.Investor ContactAlan KatzInvestor [email protected] Contact Lisa WolfordCorporate [email protected] Contact Aditya ModiAnalyst and Advisor [email protected]

GlobeNewswire

TaskUs Scores Designation As A "Major Contender" on Everest Group's Banking Operations - Services PEAK Matrix® Assessment 2023

https://finance.yahoo.com/news/taskus-scores-designation-major-contender-130000462.html

b32b2863-534c-31f4-b02a-874f38d2d56f

TASK

TaskUs Holdings, Inc.NEW BRAUNFELS, Texas, Sept. 06, 2023 (GLOBE NEWSWIRE) -- TaskUs, Inc (Nasdaq: TASK), a leading provider of outsourced digital services and next-generation customer experience to the world's most innovative companies, today announced that Balaji Sekar, Chief Financial Officer will participate in the following investor event:Citi’s 2023 Global Technology ConferenceDate and Time: Thursday, September 7th, 2023Fireside Chat Time: 11:15 AM - 11:55 AM ETThe fireside chat will be available via live audio webcast and archived replay on the investor relations section of the TaskUs website: https://ir.taskus.com/.About TaskUsTaskUs is a leading provider of outsourced digital services and next-generation customer experience to the world’s most innovative companies, helping its clients represent, protect and grow their brands. Leveraging a cloud-based infrastructure, TaskUs serves clients in the fastest-growing sectors, including social media, e-commerce, gaming, streaming media, food delivery and ride-sharing, Technology, FinTech and HealthTech. As of June 30, 2023, TaskUs had a worldwide headcount of approximately 47,000 people across 27 locations in 13 countries, including the United States, the Philippines and India.Investor ContactAlan KatzInvestor [email protected] Contact Lisa WolfordCorporate [email protected]

GlobeNewswire

TaskUs to Participate in Citi’s 2023 Global Technology Conference

https://finance.yahoo.com/news/taskus-participate-citi-2023-global-163000445.html

29d2124f-1fb0-382f-9859-582595772cbb

TAYD

NORTH TONAWANDA, N.Y., Aug. 15, 2023 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had 4th quarter sales of $10,720,017, up from last year's 4th quarter sales of $9,657,530.  Sales for the full year of $40,199,354 were significantly up from last year's level of $30,866,582.Net income for the 4th quarter of $2,066,592 was up from last year's 4th quarter net income of $1,515,035 with net income for the fiscal year of $6,287,358, up dramatically from last year's fiscal year net income of $2,239,423."Our FY23 4th quarter and full year sales finished well ahead of last year's levels with the full year sales of $40.2 million setting a new high record exceeding the prior record of $35.7 million set in FY16", said Tim Sopko, CEO.  He continued, "Year-on-year net income for both the 4th quarter and full year improved substantially with the full year net income of $6.3 million or 15.6% of sales also setting a new high record exceeding our prior record of $4.2 million or 11.8% of sales set in FY16."  He further commented, "The excellent performance of our team in the execution of our profitable growth strategies, resulted in a firm order backlog of $32.5 million as we enter FY24. This is a significant improvement over the prior year's backlog of $23.7 million, and establishes a new record for the company compared to the prior record of $25.2 million set at the start of FY16."  He further commented, "The favorable market diversity we enjoy continued with all three of our customer facing product groups; Aerospace/Defense, Structural and Industrial, improving year on year and hence, contributing to the overall profitable growth of our business."  He concluded, "As we enter FY24, we will continue to invest in our team, technologies and facilities which we expect will continue to support our profitable growth going forward."Story continuesTaylor Devices, Inc. is a 68-year-old company engaged in the design, development, manufacture & marketing of shock absorption, rate control and energy storage devices for use in various types of vehicles, machinery, equipment & structures.  The company continues to target growth in the domestic Aerospace and Defense market as well as global Structural Construction and Industrial markets.4th Quarter (3 months ended 05/31/23 & 5/31/22)F/Y 23F/Y 22Sales$    10,720,017$     9,657,530Net Earnings$      2,066,592$     1,515,035Earnings per Share$               0.59$              0.43Shares Outstanding3,514,7973,497,157 Fiscal Year F/Y 23F/Y 22Sales$    40,199,354$   30,866,582Net Earnings$      6,287,358$     2,239,423Earnings per Share$               1.79$              0.64Shares Outstanding3,506,4743,497,345 Taylor's website can be visited at:  www.taylordevices.com ; with company newsletters and other pertinent information at www.taylordevices.com/investors.Taylor Devices, Inc.Contact:  Artie ReganRegan & Associates, Inc.(212) 587-3005 (phone)(212) 587-3006 (fax)[email protected] original content:https://www.prnewswire.com/news-releases/taylor-devices-announces-strong-fourth-quarter-and-record-full-year-results-301900922.htmlSOURCE Taylor Devices, Inc.

PR Newswire

TAYLOR DEVICES ANNOUNCES STRONG FOURTH QUARTER AND RECORD FULL YEAR RESULTS

https://finance.yahoo.com/news/taylor-devices-announces-strong-fourth-115700509.html

3cbf2251-57de-3653-b39b-437020718c7e

TAYD

Taylor Devices' (NASDAQ:TAYD) stock is up by a considerable 16% over the past three months. Since the market usually pay for a company’s long-term fundamentals, we decided to study the company’s key performance indicators to see if they could be influencing the market. In this article, we decided to focus on Taylor Devices' 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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders. See our latest analysis for Taylor Devices How Is ROE Calculated?The formula for ROE is:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Taylor Devices is:13% = US$6.3m ÷ US$50m (Based on the trailing twelve months to May 2023).The 'return' refers to a company's earnings over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.13.What Has ROE Got To Do With Earnings Growth?So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. 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.Taylor Devices' Earnings Growth And 13% ROETo begin with, Taylor Devices seems to have a respectable ROE. And on comparing with the industry, we found that the the average industry ROE is similar at 14%. Consequently, this likely laid the ground for the impressive net income growth of 23% seen over the past five years by Taylor Devices. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.Story continuesNext, on comparing with the industry net income growth, we found that Taylor Devices' growth is quite high when compared to the industry average growth of 7.9% in the same period, which is great to see.past-earnings-growthEarnings growth is an important metric to consider when valuing a stock. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). 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 TAYD? You can find out in our latest intrinsic value infographic research report Is Taylor Devices Using Its Retained Earnings Effectively?Taylor Devices doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.ConclusionOverall, we are quite pleased with Taylor Devices' performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Not to forget, share price outcomes are also dependent on the potential risks a company may face. So it is important for investors to be aware of the risks involved in the business. To know the 1 risk we have identified for Taylor Devices visit our risks dashboard for free.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is Taylor Devices, Inc.'s (NASDAQ:TAYD) Recent Stock Performance Tethered To Its Strong Fundamentals?

https://finance.yahoo.com/news/taylor-devices-inc-nasdaq-tayd-124347163.html

a8ba0a42-adad-336f-990f-8f9c6004cd90

TBLT

ToughBuilt Industries, Inc. TBLT reported mixed results for second-quarter 2023, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same. On a year-over-year basis, the adjusted net loss narrowed and revenues increased.Despite a challenging market condition, the company's focus on expansion through strategic partnerships, product innovation and strong cost management helped it deliver solid results.Inside the HeadlinesToughBuilt reported a net loss of 36 cents per share, which topped the Zacks Consensus Estimate of loss of 57 cents. The reported loss was narrower from the year-ago loss of $9.45 per share. The upside was backed by its continued focus on operational efficiency and strategic capital allocation.ToughBuilt Industries, Inc. Price, Consensus and EPS Surprise ToughBuilt Industries, Inc. Price, Consensus and EPS SurpriseToughBuilt Industries, Inc. price-consensus-eps-surprise-chart | ToughBuilt Industries, Inc. Quote Total revenues of $18.9 million missed the consensus mark of $29 million by 34.7% but increased 5.5% year over year. Strong demand and recurring sales orders for metal goods and soft goods drove the bottom-line growth in the reported quarter.Sales through Amazon.com increased 1.4% year over year to $3.61 million.Margins PerformanceGross profit were $5.8 million, up 18.0% from $4.9 million reported in the year-ago quarter. The gross margin was up 300 basis points (bps) to 31% from the year-ago figure of 28%, primarily driven by improved product mix and select pricing adjustments.FinancialsToughBuilt had cash balance of $2.2 million as of Jun 30, 2023, slightly down from $2.6 million at 2022-end. Net cash used in operating activities was $2.15 million for the first half of 2023, down compared with $12.89 million in the prior-year period.In June 2023, the company raised $4.5 million through a public offering, resulting in net proceeds of $3.7 million.Other UpdatesIn June 2023, TBLT expanded its footprint in the U.K. by establishing new business relationships with Howdens UK and City Electrical Factors UK (“CEF”), representing a combined 1,200 retail locations nationwide.Also, the company partnered with La Platforme Du Batiment and Prolians to expand its distribution in European Union. These major retail groups collectively cater to more than 600,000 professional customers in France and Spain.Story continuesZacks Rank & Recent Construction ReleasesToughBuilt currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.NVR, Inc. NVR reported mixed second-quarter 2023 results, with earnings surpassing the Zacks Consensus Estimate and revenues missing the same. The top and the bottom line declined on a year-over-year basis, thanks to delayed housing activities and macroeconomic woes.NVR reported earnings of $116.54 per share, which topped the consensus mark of $100.98 by 15.4%. The reported figure declined by 6% from the prior-year quarter’s figure of $123.65 per share.PulteGroup Inc. PHM reported impressive results in second-quarter 2023. Its earnings and revenues surpassed their respective Zacks Consensus Estimate and increased year over year. The upside was mainly driven by its solid operating model, which strategically aligns the production of build-to-order and quick-move-in homes with applicable demand across consumer groups.Backed by its disciplined and balanced business model, the company witnessed solid gross closings, orders and margins in the reported quarter and posted a 12-month return on equity of 32%.D.R. Horton, Inc. DHI reported third-quarter fiscal 2023 (ended Jun 30, 2023) results, wherein earnings and revenues surpassed their respective Zacks Consensus Estimate.Although earnings declined, revenues increased on a year-over-year basis. The company highlighted that the supply of both new and existing homes at affordable price points remains limited and that the demographics supporting housing demand remain favorable. This tailwind has helped this Arlington, TX-based homebuilder witness net sales order growth of 37% year over year in the fiscal third quarter.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportPulteGroup, Inc. (PHM) : Free Stock Analysis ReportD.R. Horton, Inc. (DHI) : Free Stock Analysis ReportNVR, Inc. (NVR) : Free Stock Analysis ReportToughBuilt Industries, Inc. (TBLT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

ToughBuilt (TBLT) Q2 Earnings Top Estimates, Revenues Miss

https://finance.yahoo.com/news/toughbuilt-tblt-q2-earnings-top-143400602.html

13c6b69e-407e-31bc-9a9a-9b389b6b84e8

TBLT

ParticipantsMartin Galstyan; CFO, Principal Financial & Accounting Officer; ToughBuilt Industries, Inc.Michael Panosian; President, CEO & Director; ToughBuilt Industries, Inc. Earnings CallKevin Dede; Analyst; H.C. WainwrightPresentationOperatorGreetings, and welcome to the ToughBuilt Industries second-quarter 2023 earnings call. (Operator Instructions) As a reminder, this conference is being recorded.It is now my pleasure to introduce your host, Martin Galstyan, Chief Financial Operator (sic - see company website, "Chief Financial Officer"). Thank you, Martin. You may begin.Martin GalstyanGood afternoon and thank you all for joining us today to discuss ToughBuilt's second-quarter 2023 financial and operating results. Again, my name is Martin Galstyan, and I am the Chief Financial Officer of ToughBuilt.Joining me on today's call is Michael Panosian, ToughBuilt's President and Chief Executive Officer. Michael will begin today's discussion by providing operational and financial highlights from the second quarter. I will then review our financial performance. Michael will conclude the discussion with our growth plans for the upcoming fiscal year and beyond.Before turning the call over to Michael, I would like to remind you that forward-looking statements may be made by management during today's call and that any forward-looking statements are covered under the US Private Securities Litigation Reform Act of 1995. Actual results could differ materially from what is described in those statements and are subject to the changes, risks, and uncertainties as described in our press release and in our SEC, periodic, and other filings.Additionally, information on risk factors that can use the results to differ is available in the company's most recent Form 10-K filed with the SEC. In addition, during the course of the call, we may inadvertently use or refer to financial measures that are not prepared in accordance with accounting principles generally accepted in the United States and that may be different from non-GAAP financial measures by other companies. If any non-GAAP financial measures are mentioned in today's call, the company will promptly file a Form 8-K with the SEC reconciling such non-GAAP numbers to GAAP.I will now turn the call to Michael.Story continuesMichael PanosianThank you, Martin, and thank you all for joining us today. Considering the challenging macroeconomic backdrop, the second quarter of 2023 was strong for ToughBuilt as revenues increased by approximately 5.5% to $18.9 million compared to same quarter in 2022.We continue to see solid online sales through Amazon in second quarter with $3.6 million in gross sales representing a 2% increase over Amazon sales in the same period in 2022. Our gross profit for the second quarter increased by 18% to $5.8 million compared to the second quarter of 2022, while gross margin improved by 330 basis points year over year to 31%. This increase in gross margin in the 2023 second quarter was primarily driven by improving product mix and select pricing adjustments. We will continue to focus on our improving gross profit margin in the quarters ahead.We also saw significant operating expense leverage in the quarter as our operating expenses declined year over year, even as we grew revenues. During the last quarter, we continued to streamline the organization and focus on driving efficiencies on our accelerated path towards profitability. These streamlining efforts will be more visible in the quarters to come.We strongly believe our 20 product lines in eight different categories provide a strong foundation to continue our growth. Even as we introduce additional new products, we believe that a significant portion of our major new design work has been completed, and we can begin to reap the rewards of what we have built so far.Additionally, in line with our strategy of continuing to expand our customer reach, we were pleased to announce subsequent to the quarter end that we significantly expanded distribution to customers in the UK -- United Kingdom through Howdens UK and City Electrical Factors, representing a combined 1,200 retail locations nationwide. We also announced recently that we have expanded distribution in the European Union through La Platforme Du Batiment and Prolians, which serve a combined 600,000-plus professional customers in France and Spain.I will now turn the call back to Martin to cover our financial results in greater details. Martin?Martin GalstyanThank you, Michael. Revenues for the three months ended June 30, 2023, and 2022 were $18.9 million and $17.9 million respectively which consisted of metal goods, soft goods, and electronic goods sold to customers. Revenues increased in the second quarter of 2023 over the same period in 2022 by approximately $1 million or 5.5%, primarily due to wide acceptance of our products in the tools industry, reoccurring sales orders for metal goods and soft goods from our existing and new customers, and the introduction on sale of new soft good products. Increased sales through Amazon also contributed to the increase.Cost of goods sold for the three months ended June 30, 2023, and 2022 was $13 million and $12.9 million, respectively. Cost of goods sold as a percentage of revenues for the second quarter of 2023 was 69%, down from 72% in the same period in the prior year. SG&A expenses for three months ended June 30, 2023, and 2022 were $14.9 million and $14.5 million, respectively. SG&A expenses as a percentage of revenues for the second quarter of 2023 was 79% compared to 81% for the same period prior year. We have and will continue to seek -- to realize further operating expense leverage in the coming quarters.Research and development costs for the three months ended June 30, 2023, and 2022 were $2.9 million and $2.8 million, respectively. The year-over-year increase was primarily due to development of new tools for the construction industry. For the second quarter of 2023, we recorded a net loss of $5.9 million as compared to a net loss of $12.1 million for the three months ended June 30, 2022.This dramatic 49% improvement was primarily due to the previously mentioned sales increase, improved gross margins, cost reduction activities in many areas, and an increase in hiring. As of June 30, 2023, ToughBuilt's cash position was $2.2 million, accounts receivable amounting for the period totaled $7.8 million and $31.4 million, respectively.This and reduced net loss helped drive an 84% improvement in net cash used in operating activities in the first half of 2023 to a net cash used of $2.1 million. The company also raised $4.5 million in June in a public offering. Management anticipates that our capital resource will improve as our products gain even wider market recognition and acceptance. We seek to further improve our gross margins and we continue to maintain strong cost controls.I will now turn the call back to Michael for his final remarks. Michael?Michael PanosianThank you, Martin. I would like to reiterate that ToughBuilt has tremendous market opportunities ahead and the infrastructure we have built to capitalize on those opportunities are sound and operating well. We are satisfied with our current operating expense structure and do not plan to add significant head count in 2023.Moving forward, we plan to continue expanding our product portfolio prudently, selectively adjust prices, and focus on efficiency throughout the organization. We anticipate that these efforts will enable us to create new revenue streams by increasing our global reach, launching additional new products, categories, and move us closer to profitability. In closing, I want to thank our shareholders and our team for helping grow ToughBuilt into a high-quality brand that has a bright future.With that, I would like to turn it over to our operator.Question and Answer SessionOperator(Operator Instructions) Kevin Dede, H.C. Wainwright.Kevin DedeHi, Michael. Hi, Martin. Thanks for taking my questions.Michael PanosianHello, Kevin.Kevin DedeHappy to see good year-over-year growth. I'm wondering if you could talk to maybe a comparison of where you are now versus the year-end '22 in the SKU count and the doors. Understand that you've got a couple of new retail outlets. And I was just wondering if you could give us the SKU count change over the first six months and the door count change.Michael PanosianSure, Kevin. I'll be happy to. We've increased a lot of customers around the world. So we are now roughly over 20,000 doors. I will give a more accurate count on our next announcement. We've got a couple of announcements coming. So we'll put out that accurate figure, but we got quite a bit of doors to service. As I mentioned, we have huge opportunities for ToughBuilt to build on in 2024, highly excited about the rest of the year and also 2024.As far as SKUs, we've put out some really good lines that are performing well, and we are now going to start distributing it throughout the United States and the rest of the world more rapidly. The whole push was to build the infrastructure of different category of products, which each one is a new revenue stream for us and also to build enough sales staff around the world to be able to present us to multitude of customers.Kevin DedeOkay. So in your prepared remarks, Michael, you talked to just driving efficiencies and streamlining the organization. I imagine some of that has to do with the way you're sharing shipping costs, transportation with some of your key customers. But also to your last point, just about headcount, where are you head count-wise now? Where were you at the beginning of the year? And maybe you could give us a little more insight on shipping costs because I know they were tough during the pandemic.Michael PanosianOkay. Globally, we were at 248 team members. Now we are at down to 200. And this savings accumulates month over month, and it contributes towards other costs and paying down payables, et cetera. We are pushing for profitability next year. So we are really focused on our costs. We've reduced our operation costs and many other areas. And we are not adding more designers or R&D or much staff because we are well staffed now to support the growth globally. But these savings will be more visible over the next two quarters and beyond.So I'm very happy about my team. Everyone is really pushing hard to save the company money and also deliver on time, get paid on time. And we are also raising prices in many places. We didn't raise prices for many years with our customers due to contracts, et cetera. So -- also on the trucking and shipping, those costs have gone down drastically. During the pandemic, we were paying somewhere north of $25,000 per container instead of $3,000 or $5,000 and we've negotiated it down to below normal prices now. So we are saving a lot of money and our margins are higher as a result of that.Kevin DedeCan you talk to -- I know you commented on being satisfied with where your design team is and the fact that you've made investments for designs that you'll be releasing later this year and I guess into next year. Can you talk to how you see product lines expanding. I know that electronic products were a key focus. I know that apparel was something that you were kicking around. Can you talk to how you might see those products coming into the sales mix?Michael PanosianYes, absolutely. Some of the products that we've developed, they are ready to launch. You'll see some of them being launched end of the year in one of the US leading retailers. So then a lot of the R&D goes into developing these big lines and more to come next year. We didn't launch those big products this year. We are going to be in better position to take advantage next year.However, this year, we launched numerous lines of cutting tools, screw drivers, pliers, and many other hand tools, hammer line. And each one of these has numerous SKUs inside. It's not just one piece of product. So every time we launch a new category that generates new revenue stream while the past lines and categories continue to grow for us globally. This is a path towards big sales and profitability. As our sales builds up, we will be profitable next year.Kevin DedeOkay. You spoke to the difficult operating environment currently. Can you give us some more insight on that? And maybe how you see it changing? And what you might be able to -- or what you might recommend us to expect for the second half?Michael PanosianSure. The economic conditions around the world is not easy at this moment. Banking is not easy. Borrowing money is not easy because of the borrowing rates, et cetera. So we've kind of cut down on a lot of the expenses that we would typically do on marketing spend, et cetera. We are just focused on delivering the products that we already sold into the marketplace. And we are striving to get new financial vehicles in place to be able to do pure financing and try not to raise at the market as much as possible.The -- what we expect the rest of the year is a little bit of growth this year and bigger growth next year. I think that's a fair statement to say. We are still growing. We are still strong. We keep adding customers. We are in demand. Our brand is truly loved by the professionals and the end users. We have very strong traction and a very bright future.I'm very confident about growing. I'm not worried about growing, frankly. What I'm trying to balance is the well-being of the shareholders versus raising money versus getting financial vehicles. We are almost there. Once we are profitable, I think we'll be highly bankable and it will be easier from thereon.Kevin DedeIs there anything you can speak to -- I mean, understand just modest growth this year. Is -- does that have anything to do with sort of the end market? Or just to your point, financing the need, right, the need to build inventory, I guess?Michael PanosianYes. Frankly, it's not the market. For us, a company our size, we can take this company to $1 billion quite easily. There's a lot of demand. The -- we don't have the financial arms to bring in all the inventory we need to service customers that are already out there. We are registered with them. There's a lot of demand, but to provide product, we have to purchase local inventory. If I look -- purchase local inventory, I have to go raise a lot of money, which is not good for our shareholders. So sometimes, it's good to take half a step back and do what's prudent. And then as times get better and as we become more bankable and then kind of press on the gas and grow faster.Kevin DedeLast question for me, Michael. I'm curious to understand the supply logistics chain and how you've managed that especially since the end of the pandemic. Are you still manufacturing predominantly in China? Or have you chase down maybe other sources that may be more economical?Michael PanosianThank you, Kevin. That's a good question. Well, of course, everyone knows during the pandemic and just before that, we got all the tariffs. So we've been forging ahead and trying to get to other countries. Some of the countries are not ready like China was. But right now, we are in Vietnam, Cambodia, India. Some parts are -- some products are developed in China. We are also in Taiwan, Thailand, Philippines, Bangladesh, and other places as the need comes. So we source per line and who can give us the best possible deal then we go to that country if the capabilities are there.Kevin DedeOkay. Thanks for taking all my questions, Mike. I really appreciate it.Michael PanosianThank you, Kevin.OperatorThank you. No further questions at this time. I would like to hand the floor back over to Michael Panosian for any closing comments.Michael PanosianThank you, everyone, for being a supporter of ToughBuilt. We are truly excited about the future, and I look forward to a lot of good news for us this coming few months for the year and especially in 2024. Be well.OperatorThis concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.

Thomson Reuters StreetEvents

Q2 2023 Toughbuilt Industries Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-toughbuilt-industries-inc-161556415.html

ad16bfd4-bf68-3e44-8639-9f19b0f0af95

TBNK

Readers hoping to buy Territorial Bancorp Inc. (NASDAQ:TBNK) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the 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. This means that investors who purchase Territorial Bancorp's shares on or after the 10th of August will not receive the dividend, which will be paid on the 25th of August.The company's next dividend payment will be US$0.23 per share, and in the last 12 months, the company paid a total of US$1.02 per share. Looking at the last 12 months of distributions, Territorial Bancorp has a trailing yield of approximately 9.0% on its current stock price of $11.3. If you buy this business for its dividend, you should have an idea of whether Territorial Bancorp's dividend is reliable and sustainable. So we need to check whether the dividend payments are covered, and if earnings are growing. See our latest analysis for Territorial Bancorp Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. Territorial Bancorp is paying out an acceptable 73% of its profit, a common payout level among most companies.Generally speaking, the lower a company's payout ratios, the more resilient its dividend usually is.Click here to see how much of its profit Territorial Bancorp paid out over the last 12 months.historic-dividendHave Earnings And Dividends Been Growing?Companies with falling earnings are riskier for dividend shareholders. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. That's why it's not ideal to see Territorial Bancorp's earnings per share have been shrinking at 4.1% a year over the previous five years.Story continuesMany investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. In the past 10 years, Territorial Bancorp has increased its dividend at approximately 7.8% a year on average. Growing the dividend payout ratio while earnings are declining can deliver nice returns for a while, but it's always worth checking for when the company can't increase the payout ratio any more - because then the music stops.To Sum It UpFrom a dividend perspective, should investors buy or avoid Territorial Bancorp? Earnings per share have been declining and the company is paying out more than half its profits to shareholders; not an enticing combination. This is not an overtly appealing combination of characteristics, and we're just not that interested in this company's dividend.With that in mind though, if the poor dividend characteristics of Territorial Bancorp don't faze you, it's worth being mindful of the risks involved with this business. For example, we've found 3 warning signs for Territorial Bancorp (1 is potentially serious!) that deserve your attention before investing in the shares.If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Dividend Investors: Don't Be Too Quick To Buy Territorial Bancorp Inc. (NASDAQ:TBNK) For Its Upcoming Dividend

https://finance.yahoo.com/news/dividend-investors-dont-too-quick-120506023.html

3df83b15-0aad-3e0b-9200-e191e59bf86a

TBNK

In this piece, we will take a look at the 15 worst performing bank stocks in 2023. If you want to skip our introduction to the banking industry, then head on over to 5 Worst Performing Bank Stocks in 2023. The banking industry, primarily due to its high exposure to interest rate hikes, has been at the center of the economy lately. A bank's operations are sensitive to interest rate hikes. At one end, the bank rate determines the rate at which a bank borrows money from other banks. It lends out this money to corporate and individual clients and charges them a fee through the interest rate as well. The difference between the fee of a loan paid by a consumer and the rate that the bank is charged as bank rate is the interest rate spread - or a bank's profit. A higher bank rate makes it difficult for firms to raise credit since they are charged higher interest payments, a fact that was clear in Canada earlier this year.Before we get to that, the difference between the impact of a bank rate increase on short term and long term lending rates is sometimes different too. Generally, interest rates for longer term bonds and instruments are generally higher than short term rates. However, a 22-year high interest rate has led to the current yield for two month bonds to sit at 5.26% while the yield for a 30 year treasury bond is 4.23%. This implies that the prices of long term bonds are higher than those of short term debt since move investors are flocking toward them. The tendency of buyers to prefer the stability of long term debt income is also viewed negatively in the stock market since it signals unease about the shorter term economic climate.Short term rates, which increase rapidly in a high rate environment, are often tightly linked with the ability of consumers and corporations to spend. This fact was visible in Canada by the end of Q1 2023, according to Equifax Canada's credit trends report which outlines that the balance on longer term installment loans fell by 2.4% for the first time since 2019. However, consumers and businesses continued to take on short term credit in a tight environment where overall business openings fell as well. More businesses also became delinquent, in the financial and industrial sectors, as they failed to keep up with high inflation and other factors. If you want find out which Canadian firms performed well during this tough climate, then you can check out 11 Most Profitable Canadian Stocks.Story continuesIn America, the high interest rate environment also led to a fall in the prices of bonds that were issued last year. Within a year or so, interest rates have hit a multi-decade high, and naturally this makes the bond market quite fast moving when it comes to setting prices. Several U.S. banks failed to maintain their asset value in the face of a sudden jump in client withdrawal, an event that created a chill at both the Federal Reserve and the Treasury Department. For more details, you can check out Top 20 Most Profitable Banks in the World.The aftermath of the March banking crisis has also led to new regulations for big banks such as JPMorgan Chase & Co. (NYSE:JPM). As July ended, the Federal Reserve uploaded a crucial data set that laid out that under a stress test where banks have to swiftly raise capital, their tier 1 capital ratio changed by 3.3 on the median. This report, which shared details about all major banks in America, came around the same time that the Fed sought public comment on new rules designed to increase the ability of large banks to withstand adverse economic scenarios.Put together, all these factors make it clear that there is turmoil in the banking market. This has also affected banking stocks, with the S&P Banks Select Industry Index down 7.56% year to date. The fragility in the banking sector and the aftermath of the March crisis still continue to impact the S&P Regional Banks Select Industry Index which is yet to retake previous highs and has lost 17.54% over the course of this year. This difference in the performance between diversified and regional banks is also clear from the latest slew of banking earnings releases. You can learn more here 10 Oversold Bank Stocks To Buy.So, which bank stocks have fared poorly on the market this year? Some that have seen the steepest share price drops are BV Financial, Inc. (NASDAQ:BVFL), SHF Holdings, Inc. (NASDAQ:SHFS), and PacWest Bancorp (NASDAQ:PACW).15 Worst Performing Bank Stocks in 2023Source: Federal Reserve.Chairman Powell presents the Monetary Policy Report to the Senate Committee on Banking, Housing, and Urban Affairs. Report here: www.federalreserve.gov/monetarypolicy/2018-07-mpr-summary...Our Methodology To compile our list of the worst performing bank stocks, we ranked regional and diversified banks in terms of their year to date share price losses.15 Worst Performing Bank Stocks in 202315. Bridgewater Bancshares, Inc. (NASDAQ:BWB)Year To Date Share Price Loss: 37.07%Bridgewater Bancshares, Inc. (NASDAQ:BWB) is a Minnesota based bank that limits its services to businesses, investors, and high net worth individuals. Like Heritage Financial, its Q2 2023 EPS also beat analyst estimates.During 2023's first quarter, six of the 943 hedge funds part of Insider Monkey's database had held a stake in the bank. Bridgewater Bancshares, Inc. (NASDAQ:BWB)'s biggest investor in our database is Jim Simons' Renaissance Technologies through its $4.2 million investment.Bridgewater Bancshares, Inc. (NASDAQ:BWB) joins SHF Holdings, Inc. (NASDAQ:SHFS), BV Financial, Inc. (NASDAQ:BVFL), and PacWest Bancorp (NASDAQ:PACW) in our list of the worst performing bank stocks in 2023.14. Heritage Financial Corporation (NASDAQ:HFWA)Year To Date Share Price Loss: 37.38%Heritage Financial Corporation (NASDAQ:HFWA) is a Washington based bank that managed to meet analyst EPS estimates for its second quarter earnings. The stock is rated Buy on average and has started to reverse some of its losses earlier this year.Insider Monkey dug through 943 hedge fund holdings for their March quarter of 2023 investments and found out that 14 had bought and owned Heritage Financial Corporation (NASDAQ:HFWA)'s shares. Israel Englander's Millennium Management is the largest shareholder through a $7.7 million stake.13. Eagle Bancorp, Inc. (NASDAQ:EGBN)Year To Date Share Price Loss: 37.47% Eagle Bancorp, Inc. (NASDAQ:EGBN) is a regional bank that serves the needs of both individual and business customers. Despite turmoil in the regional banking sector, it reported strong second quarter results after beating analyst EPS estimates. However, the bank has embarked on a cost cutting strategy as well as it closes branches and laying off staff.By the end of this year's first quarter, 19 of the 943 hedge funds surveyed by Insider Monkey had held a stake in Eagle Bancorp, Inc. (NASDAQ:EGBN). Out of these, the bank's largest investor is Israel Englander's Millennium Management courtesy of its $13.4 million stake.12. Carver Bancorp, Inc. (NASDAQ:CARV)Year To Date Share Price Loss: 38.89% Carver Bancorp, Inc. (NASDAQ:CARV) is a New York City based bank that provides accounts and other services. It is one of the few penny bank stocks on our list and one which also announced a partnership earlier this year to use artificial intelligence for streamlining loan operations.Two of the 943 hedge funds part of Insider Monkey's Q1 2023 database have invested in the bank. Carver Bancorp, Inc. (NASDAQ:CARV)'s biggest hedge fund investor is Jim Simons' Renaissance Technologies through a $203,000 investment.11. Arrow Financial Corporation (NASDAQ:AROW)Year To Date Share Price Loss: 40.49%Arrow Financial Corporation (NASDAQ:AROW) is one of the oldest banks on our list since it was set up in 1851. Its operations are limited in New York, and it missed analyst EPS estimates in Q1.Four of the 943 hedge fund portfolios studied by Insider Monkey had held Arrow Financial Corporation (NASDAQ:AROW)'s shares during Q1 2023. Out of these, the largest stakeholder is Jim Simons' Renaissance Technologies since it owns $7 million worth of shares.10. First Horizon Corporation (NYSE:FHN)Year To Date Share Price Loss: 44.64%First Horizon Corporation (NYSE:FHN) is a Tennessee based bank whose acquisition by a Canadian bank was called off earlier this year during the turmoil in the regional bank industry. The firm's Q2 2023 earnings disappointed investors and the shares were rated Sector Perform by RBC Capital in July.As of March 2023 end, 60 of the 943 hedge funds part of Insider Monkey's database had held a stake in the bank. First Horizon Corporation (NYSE:FHN)'s largest investor in our database is George Soros' Soros Fund Management through a stake worth $129 million.9. First Guaranty Bancshares, Inc. (NASDAQ:FGBI)Year To Date Share Price Loss: 46.74%First Guaranty Bancshares, Inc. (NASDAQ:FGBI) serves the needs of both individual and business customers. It is one of the few banks where more shares are owned by retail investors as opposed to institutional investors.During 2023's first quarter, only one hedge fund part of Insider Monkey's survey had bought First Guaranty Bancshares, Inc. (NASDAQ:FGBI)'s shares. This lone investor is Jim Simons' Renaissance Technologies which owns $179,000 worth of shares.8. First Foundation Inc. (NASDAQ:FFWM)Year To Date Share Price Loss: 49.27%First Foundation Inc. (NASDAQ:FFWM) is based in Dallas, Texas, and has a presence in several American states. It is one of the few regional banks that have beaten analyst EPS estimates for their second quarter results.In the prior quarter, 16 of the 943 hedge funds polled by Insider Monkey had held a stake in the bank. First Foundation Inc. (NASDAQ:FFWM)'s biggest shareholder out of these is Ravi Chopra's Azora Capital through a $12.8 million investment.7. Oconee Federal Financial Corp. (OTCMKTS:OFED)Year To Date Share Price Loss: 51.00%A pink sheet stock, Oconee Federal Financial Corp. (OTCMKTS:OFED)'s shares currently trade for $12.25. The firm is a savings and loan association with operations in South Carolina and Georgia. While the stock was previously traded on the NASDAQ exchange, the shares were delisted in July. During the first quarter, two hedge funds of the 943 surveyed by Insider Monkey had invested in Oconee Federal Financial Corp. (NASDAQ:OFED) with Israel Englander's Millennium Management being the largest investor.6. Territorial Bancorp Inc. (NASDAQ:TBNK)Year To Date Share Price Loss: 54.02%Territorial Bancorp Inc. (NASDAQ:TBNK) offers deposit accounts, loans, and other financial products. Its shares dipped in May and haven't recovered since then.Six of the 943 hedge funds polled by Insider Monkey for their Q1 2023 investments had held Territorial Bancorp Inc. (NASDAQ:TBNK)'s shares. Out of these, the biggest stakeholder was Jim Simons' Renaissance Technologies through a $9.3 million stake.BV Financial, Inc. (NASDAQ:BVFL), Territorial Bancorp Inc. (NASDAQ:TBNK), SHF Holdings, Inc. (NASDAQ:SHFS), and PacWest Bancorp (NASDAQ:PACW) are some of the worst performing bank stocks in 2023. Click to continue reading and see 5 Worst Performing Bank Stocks in 2023. Suggested Articles:10 Best EV, Battery and Autonomous Driving ETFs10 Best Mutual Fund Managers of 202210 Oversold Bank Stocks To BuyDisclosure: None. 15 Worst Performing Bank Stocks in 2023 is originally published on Insider Monkey.

Insider Monkey

15 Worst Performing Bank Stocks in 2023

https://finance.yahoo.com/news/15-worst-performing-bank-stocks-213703793.html

4a8a2ee6-e2d4-3f15-adb0-d0cbf61fb8c1

TCON

Investing in biotech stocks can be challenging. The rewards can be great when your company hits on a popular drug, treatment or product. But there are also plenty of pitfalls that make such investments a risk.Biotech stocks represent companies that develop products and technology involving genetics and molecular biology. Some of them develop new drugs, therapies and medical treatments.Others develop genetically modified organisms to improve crop yield or the nutritional content of food.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut it’s difficult. Biotechs trying to develop drugs or therapies go through a long, expensive clinical trial process. At any point, a company could be forced to pull the plug on the drug should the trial not show effectiveness.Even after that process is over, the drug or therapy needs to get regulatory approval before it can go to market.On top of that, bringing a drug to market is expensive. It takes a lot of research and development money. That could be a challenge for a new company with few reserves and isn’t yet bringing in revenue. Often, small companies have a relatively small pipeline of potential drugs and treatments.There are some solid biotech stocks on the market. But many more deserve an “F” rating from the Portfolio Grader. If you are considering an investment in one of these F-rated biotech stocks, think twice.Biocept (BIOC)Photo of test tubes and droplet with purple and reddish-orange sunset visual effect, representing biotechSource: shutterstock.com/Romix ImageBiocept (NASDAQ:BIOC) is a struggling company that benefited from the Covid-19 pandemic by providing testing services. But now that the need for testing has dropped, Biocept’s profits have fallen.Despite a 1-for-30 stock split in May, BIOC stock is barely at $1 per share, falling 93% in 2023.Biocept, which stopped its Covid-19 testing in February, specializes in molecular oncology diagnostics and provides testing services to help physicians detect and monitor cancer biomarkers from cerebrospinal fluid samples.Story continuesIt’s now conducting a clinical trial hoping to make its proprietary treatment a recognized standard of care.Revenues for the second quarter were $600,000 in revenue, compared to $5.8 million a year ago. The company’s losses came in at $3.6 million, or $3.50 per share.The company has $6.6 million cash on hand, with $3.6 million coming from a public offering of 1.17 million shares of stock.Biocept has an “F” rating in the Portfolio Grader.Sonnet BioTherapeutics (SONN)Concept photo choice or strategy for treating patient - surgical (operation) or therapeutic (with medications). Doctor holds surgical scalpels in one hand, in another - pills in blisters and ampoules. SONN StockSource: Shidlovski / Shutterstock.comSonnet BioTherapeutics (NASDAQ:SONN) is a North Carolina-based biotechnology company that also has a focus on oncology.Sonnet is developing a technology that allows a fully human single-chain antibody fragment to bind to human serum albumin, the main protein in plasma.Sonnet says that its therapy allows treatment to be transported to targeted tissues with better penetration and without invasive, toxic therapies.However, Sonnet is far from bringing its treatment to market. It has six programs, but only one has reached Phase 2 testing. That explains why revenue for the second quarter was only $36,000, while expenses were nearly $4 million.SONN stock is down 74% this year and has an “F” rating in the Portfolio Grader.Moderna (MRNA)Moderna logo is seen at the entrance to its headquarters in Cambridge, Massachusetts. Moderna, Inc., (MRNA) is an American pharmaceutical and biotechnology company.Source: Tada Images / Shutterstock.comUnlike the first two names on this list, Moderna (NASDAQ:MRNA) is well-known and mature. It has a market capitalization of $44 billion, and it’s best known for its role in developing a Covid-19 vaccine.But even big biotech companies can run into trouble, and Moderna’s in that spot now. The Covid-19 vaccine brought in $36 billion in revenue in the last two years, but that profit is drying up quickly.Revenue in the second quarter was $344 million, down nearly 95% from a year ago. The company posted a loss of $3.62 per share – but even that huge number was better than the $4.12 loss per share analysts expected.One glimmer of hope for MRNA stock is that its vaccine is said to be effective for the coronavirus wave that is currently causing hospitalizations to creep up in the U.S.The White House is urging people to get new boosters – and if that happens, Moderna may be able to stop the bleeding, at least in the short term.But if you hope that MRNA stock will rebound to its previous levels, you’re in for a disappointment. MRNA stock is down 35% this year and has an “F” rating in the Portfolio Grader.Windtree Therapeutics (WINT)a representation of floating moleculesSource: ShutterstockWindtree Therapeutics (NASDAQ:WINT) is a Pennsylvania biotech company that works to treat late-stage cardiovascular disorders such as cardiogenic shock and acute heart failure.But it hasn’t been a good year. Windtree stock is down 85% this year, with much of that coming in May when its chairman, James Huang, stepped down. Huang said in his resignation letter that the company stock doesn’t reflect its true worth and that Windtree was wrong to transfer ownership shares from current shareholders.Windtree reported a second-quarter net loss of $6.6 million, or $1.64 per share. The company raised $12.4 million in the quarter and has enough cash to sustain operations through the first quarter of 2024.WINT stock has five drugs in its pipeline, four in Phase 2 testing. Ideally, it will find a way to make revenue before money runs out next year, or it will have to raise more funds, possibly diluting shareholder value.Windtree has an “F” rating in the Portfolio Grader.Fresh Tracks Therapeutics (FRTX)Light blue pills on white background. Pharmaceutical industry, medical treatment, presciption drugs concept. Digital 3D render., biotech stocks, big pharma. EVAX stockSource: Hernan E. Schmidt / Shutterstock.comFresh Tracks Therapeutics (NASDAQ: FRTX) is a clinical-stage pharmaceutical company in San Diego.The company works to develop therapeutics for people who suffer from autoimmune diseases, inflammatory conditions and other disorders.It has four drugs in its pipeline, but only one is in Phase 1 testing: an oral treatment for autoimmune diseases such as dermatitis, rheumatoid arthritis and Type 1 diabetes. Its other three candidates are in the discovery or pre-clinical stages.That means Fresh Tracks can’t expect to see significant revenue any time soon; it will be burning through money on research and development. The company said it had cash and cash equivalents of $8.9 million at the end of June, which should be enough to fund the company for another 12 months.It reported a net loss of $2.3 million for the quarter, with revenue of only $100,000.FRTX stock is down 58% this year and has an “F” rating in the Portfolio Grader.Tenax Therapeutics (TENX)a scientist with protective equipment and microscope in a lab, OBSV stockSource: luchschenF / Shutterstock.comTenax Therapeutics (NASDAQ:TENX) is a pharmaceutical company that studies and develops treatments for cardiopulmonary diseases.Its primary focus is treating pulmonary hypertension, a condition affecting the lungs and heart. As many as 50 million people are estimated to have pulmonary hypertension.Tenax is planning to conduct Phase 3 testing for its oral levosimendan drug to treat pulmonary hypertension with heart failure and secured a patent for the drug that gives it a potential commercial runway through the end of 2040.However, that would be a long time for investors to wait for profits. Earnings for the second quarter showed a net loss of $1.1 million or 5 cents per share. The company has $13.3 million in cash and cash equivalents.It’s possible that Tenax could be a solid long-term play. But with no revenue in the foreseeable future and the stock price down 81% this year, it’s clear why TENX stock has an “F” rating in the Portfolio Grader.Tracon Pharmaceuticals (TCON)Biochemical/biotech research scientist team working with microscopeSource: Mongkolchon Akesin / Shutterstock.comTracon Pharmaceuticals (NASDAQ: TCON) is a California-based biopharmaceutical company. It’s working on developing and commercializing cancer treatments.Its top candidate, envafolimab, is being developed to treat sarcoma. It is in various stages of testing in the U.S., Japan and China for its effectiveness against solid tumors, gastric cancer and biliary tract cancer.The company, however, is tiny, with a market capitalization of less than $8 million. That doesn’t give it much breathing room for research and development.Also notable is the stock price, which, at less than 25 cents per share, is down 85% this year. Much of that came in May following a legal dispute with I-Mab (NASDAQ:IMAB). The conflict was over a collaboration agreement to develop the CD73 antibody uliledlimab. The deal ended with an agreed-upon $9 million fee, but Tracon sought $200 million in damages.The judge ruled Tracon would not receive damages and would have no right to future economic with I-Mab. But Tracon did get $13.5 million in legal fees, which the company said would help fund the company into 2024.TCON stock has an “F” rating in the Portfolio Grader.On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence in this shocking “tell all” video… exposing one of the most shocking events in our country’s history… and the one move every American needs to make today.More From InvestorPlaceMusk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.ChatGPT IPO Could Shock the World, Make This Move Before the AnnouncementIt doesn’t matter if you have $500 or $5 million. Do this now.The post 7 F-Rated Biotech Stocks You Shouldn’t Touch With a 10-Foot Pole appeared first on InvestorPlace.

InvestorPlace

7 F-Rated Biotech Stocks You Shouldn’t Touch With a 10-Foot Pole

https://finance.yahoo.com/news/7-f-rated-biotech-stocks-112036161.html

51e4074a-9fae-3e7a-b31e-05507626eba6

TCON

TRACON Pharmaceuticals, Inc.SAN DIEGO, Sept. 05, 2023 (GLOBE NEWSWIRE) -- TRACON Pharmaceuticals, Inc. (Nasdaq: TCON), a clinical stage biopharmaceutical company utilizing a cost-efficient, CRO-independent product development platform to advance its pipeline of novel targeted cancer therapeutics and to partner with other life science companies, announced today that Charles Theuer, M.D., Ph.D., President and Chief Executive Officer, will participate at the following upcoming investor conferences and provide a company overview:H.C. Wainwright 25th Annual Global Investment Conference – Available on demand beginning on September 11th at 7:00am EDTRW Baird 2023 Global Healthcare Conference – September 12th at 4:20pm EDTTo access the H.C. Wainwright conference presentation, please visit the “Events and Presentations” page within the “Investors” section of the TRACON Pharmaceuticals website at www.traconpharma.com.About TRACONTRACON is a clinical-stage biopharmaceutical company utilizing a cost-efficient, CRO-independent, product development platform to advance its pipeline of novel targeted cancer therapeutics and to partner with other life science companies. The Company’s clinical-stage pipeline includes: Envafolimab, a PD-L1 single-domain antibody given by rapid subcutaneous injection that is being studied in the pivotal ENVASARC trial for sarcoma; YH001, a potential best-in-class CTLA-4 antibody in Phase 1/2 development; and TRC102, a Phase 2 small molecule drug candidate for the treatment of lung cancer. TRACON is actively seeking additional corporate partnerships through a profit-share or revenue-share partnership, or through franchising TRACON’s product development platform. TRACON believes it can serve as a solution for companies without clinical and commercial capabilities in the United States or who wish to become CRO-independent. To learn more about TRACON and its product pipeline, visit TRACON’s website at www.traconpharma.com.Company Contact:Investor Contact:Charles TheuerBrian RitchieChief Executive OfficerLifeSci Advisors LLC(858) 550-0780(212) [email protected]@lifesciadvisors.com

GlobeNewswire

TRACON Pharmaceuticals Announces Participation at Upcoming Investor Conferences

https://finance.yahoo.com/news/tracon-pharmaceuticals-announces-participation-upcoming-200200821.html

c0aaaa70-facf-354c-bf5e-c3bc84894c0d

TCPC

SANTA MONICA, Calif. & NEW YORK, September 06, 2023--(BUSINESS WIRE)--BlackRock TCP Capital Corp. ("TCPC") (NASDAQ: TCPC) and BlackRock Capital Investment Corporation ("BCIC") (NASDAQ: BKCC) today announced that they have entered into a definitive agreement pursuant to which BCIC will merge with and into a wholly owned, indirect subsidiary of TCPC, subject to shareholder approval and customary closing conditions. Following the merger, TCPC will continue to trade on the Nasdaq Global Select Market under the ticker symbol "TCPC" and the surviving entity will continue as a subsidiary of TCPC.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230906556090/en/In connection with and in support of the transaction, TCPC’s advisor, a wholly-owned, indirect subsidiary of BlackRock, Inc., has agreed to the following shareholder-friendly actions: (1) a reduction in the base management fee rate from 1.50% to 1.25% on assets equal to or below 200% of the net asset value of TCPC (for the avoidance of doubt, the base management fee rate on assets that exceed 200% of the net asset value of TCPC would remain 1.00%) with no change to the basis of the calculation; (2) a waiver of all or a portion of its advisory fees to the extent the adjusted net investment income of TCPC on a per share basis (determined by dividing the adjusted net investment income of TCPC by the weighted average outstanding shares of TCPC during the relevant quarter) is less than $0.32 per share in any of the first four (4) fiscal quarters ending after the closing of the transaction (the first of which will be the quarter in which the closing occurs unless it is the last day of the quarter) to the extent there are sufficient advisory fees to cover such deficit; and (3) coverage of 50% of merger transaction costs for both TCPC and BCIC, up to a combined cap of $6 million (or, if closing of the transaction does not occur because the requisite approval of TCPC or BCIC shareholders was not obtained, up to a combined cap of $3 million).Story continuesRajneesh Vig, Co-Head of US Private Capital ("USPC") for BlackRock, and Chairman and CEO of BlackRock TCP Capital Corp., said "We are very excited to announce the transaction between BlackRock TCP Capital Corp. and BlackRock Capital Investment Corporation. This is an opportune time to combine our companies. With BCIC having successfully transformed its portfolio, our investment portfolios are now closely aligned. We believe this transaction positions the combined companies for sustained growth and will create meaningful value for the shareholders of both companies. As a larger BDC post-merger, we expect to benefit from better and more efficient access to capital, improved trading dynamics and combined operating efficiencies."James Keenan, Chief Investment Officer and Global Head of Private Debt for BlackRock, and Interim CEO of BlackRock Capital Investment Corporation, said "This transaction continues our commitment to build a best-in-class platform that offers clients products and solutions to capitalize on the expanding opportunities in private debt. Over the past 20 years, BlackRock has built leading private debt capabilities to help our clients achieve their investment objectives by aligning our proven investment excellence with long-term market opportunities. This merger is a strategic next step in the growth and evolution of our business development company platform, which is an important part of our Global Private Debt business."Under the terms of the proposed merger agreement, in connection with the merger of BCIC into an indirect, wholly-owned subsidiary of TCPC, BCIC shareholders will receive newly issued shares of TCPC common stock based on the ratio (the "Exchange Ratio") of the BCIC Net Asset Value ("NAV") per share divided by the TCPC NAV per share, each determined shortly before closing. The Exchange Ratio will result in an ownership split of the combined company based on the proportional NAVs of TCPC and BCIC.Key Transaction HighlightsEnhanced scale – The combined company will have enhanced scale and a larger asset base, including total assets of approximately $2.4 billion, and net assets of approximately $1.1 billion, based on June 30, 2023 financials.Improved access to capital – As a larger entity, the combined company is expected to have better access to capital, including the potential to access debt financing on more favorable terms.Operating synergies – The merger is expected to drive meaningful operating synergies via the elimination or reduction of redundant expenses.Investor-aligned fee structure – Upon the completion of the merger, the advisor has agreed to reduce the base management fee rate from 1.50% to 1.25% on assets equal to or below 200% of the net asset value of TCPC with no change to the basis of the calculation. Additionally, TCPC’s 17.5% incentive fee will continue to be subject to a cumulative 7% total return hurdle.Accretive to NII – The merger is expected to drive accretion of net investment income over time through reduced management fees, lower combined operating expenses and opportunities to grow the portfolio through combined leverage capacity.Diversified portfolio with significant overlap – With 87% of BCIC’s portfolio overlapping with the TCPC portfolio and 68% of TCPC’s portfolio overlapping with the BCIC portfolio, in each case based on fair market value as of June 30, 2023, the combined portfolio is expected to be substantially similar, emphasizing portfolio diversity, income-generation and seniority in the capital structure. On a pro-forma basis, as of June 30, 2023, the combined company had investments in 156 portfolio companies, 90% of which were in senior secured debt.Experienced direct lending team – BlackRock’s USPC team, with more than 23 years’ experience in direct lending across multiple market cycles, will continue to manage the combined company’s portfolio and investments post-merger, as they have been doing for both companies on a standalone basis.Positioned for enhanced growth and returns – This transaction positions the combined company to better capitalize on the current lender-friendly investment environment to originate new loans with attractive spreads and lender protections.Prior to the anticipated closing, each of TCPC and BCIC currently intends to maintain its usual course of declaring and paying quarterly dividends and, to the extent necessary, will declare any special distributions required to distribute sufficient taxable income to continue to comply with its regulated investment company status.The combined company will continue to be externally managed by its advisor, a wholly-owned, indirect subsidiary of BlackRock, Inc.Consummation of the proposed merger is subject to TCPC and BCIC shareholder approvals, HSR Act approval and satisfaction of other customary closing conditions. Assuming satisfaction of these conditions, the transaction is expected to close in the first quarter of 2024.Houlihan Lokey Capital, Inc. served as financial advisor and Dechert LLP as the legal counsel to the special committee of TCPC. Keefe, Bruyette & Woods, a Stifel Company, served as financial advisor and Vedder Price P.C. served as the legal counsel to the special committee of BCIC. Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to the advisors of TCPC and BCIC.Conference CallBlackRock TCP Capital Corp. and BlackRock Capital Investment Corporation will host a conference call at 10:00 a.m. Eastern Time (7:00 a.m. Pacific Time) on Thursday, September 7, 2023, to discuss the transaction.All interested parties are invited to participate in the conference call by dialing (833) 470-1428 international callers should dial (404) 975-4839. All participants should reference the access code 403292. The conference call will be webcast simultaneously in the investor relations sections of TCPC’s and BCIC’s websites at http://investors.tcpcapital.com and https://www.blackrockbkcc.com/investors.A joint investor presentation containing a discussion of this transaction will be referenced on the conference call and has been posted to the investor relations section of the TCPC and BCIC websites and filed with the Securities and Exchange Commission (the "SEC").An archived replay of the call will be available approximately two hours after the live call, through September 14, 2023. For the replay, please visit https://investors.tcpcapital.com/events-and-presentations or https://www.blackrockbkcc.com/investors/news-and-events/webcasts-and-events or dial (866) 813-9403. For international replay, please dial (929) 458-6194. For all replays, please reference access code 125467.ABOUT BLACKROCK TCP CAPITAL CORP.BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a specialty finance company focused on direct lending to middle-market companies as well as small businesses. TCPC lends primarily to companies with established market positions, strong regional or national operations, differentiated products and services and sustainable competitive advantages, investing across industries in which it has significant knowledge and expertise. TCPC’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCPC is a publicly-traded business development company, or BDC, regulated under the Investment Company Act of 1940 and is externally managed by its advisor, a wholly-owned, indirect subsidiary of BlackRock, Inc. For more information, visit www.tcpcapital.com.ABOUT BLACKROCK CAPITAL INVESTMENT CORPORATIONFormed in 2005, BlackRock Capital Investment Corporation (NASDAQ: BKCC) is a business development company that provides debt and equity capital to middle-market companies. BCIC’s investment objective is to generate both current income and capital appreciation through debt and equity investments. BCIC invests primarily in middle-market companies in the form of senior debt securities and loans, and the investment portfolio may include junior secured and unsecured debt securities and loans, each of which may include an equity component. BCIC is a publicly-traded BDC, regulated under the Investment Company Act of 1940 and is externally managed by its advisor, a wholly-owned, indirect subsidiary of BlackRock, Inc. For more information, visit www.blackrockbkcc.com.FORWARD-LOOKING STATEMENTSSome of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition of BCIC or TCPC or the merger of BCIC with and into a wholly owned, indirect subsidiary of TCPC (the "Merger"). The forward-looking statements may include statements as to: future operating results of BCIC and TCPC and distribution projections; business prospects of BCIC and TCPC and the prospects of their portfolio companies; and the impact of the investments that BCIC and TCPC expect to make. In addition, words such as "anticipate," "believe," "expect," "seek," "plan," "should," "estimate," "project" and "intend" indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) the timing or likelihood of the Merger closing; (ii) the expected synergies and savings associated with the Merger; (iii) the ability to realize the anticipated benefits of the Merger, including the expected accretion to net investment income and the elimination or reduction of certain expenses and costs due to the Merger; (iv) the percentage of BCIC and TCPC stockholders voting in favor of the proposals submitted for their approval; (v) the possibility that competing offers or acquisition proposals will be made; (vi) the possibility that any or all of the various conditions to the consummation of the Merger may not be satisfied or waived; (vii) risks related to diverting management’s attention from ongoing business operations; (viii) the risk that stockholder litigation in connection with the Merger may result in significant costs of defense and liability; (ix) changes in the economy, financial markets and political environment, including the impacts of inflation and rising interest rates; (x) risks associated with possible disruption in the operations of BCIC and TCPC or the economy generally due to terrorism, war or other geopolitical conflict (including the current conflict between Russia and Ukraine), natural disasters or public health crises and epidemics; (xi) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); (xii) conditions in BCIC’s and TCPC’s operating areas, particularly with respect to business development companies or regulated investment companies; and (xiii) other considerations that may be disclosed from time to time in BCIC’s and TCPC’s publicly disseminated documents and filings. BCIC and TCPC have based the forward-looking statements included in this press release on information available to them on the date hereof, and they assume no obligation to update any such forward-looking statements. Although BCIC and TCPC undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that they may make directly to you or through reports that BCIC and TCPC in the future may file with the SEC, including the Joint Proxy Statement and the Registration Statement (each as defined below), annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.ADDITIONAL INFORMATION AND WHERE TO FIND ITIn connection with the Merger, BCIC and TCPC plan to file with the SEC and mail to their respective stockholders a joint proxy statement on Schedule 14A (the "Joint Proxy Statement"), and TCPC plans to file with the SEC a registration statement on Form N-14 (the "Registration Statement") that will include the Joint Proxy Statement and a prospectus of TCPC. The Joint Proxy Statement and the Registration Statement will each contain important information about BCIC, TCPC, the Merger and related matters. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. STOCKHOLDERS OF BCIC AND TCPC ARE URGED TO READ THE JOINT PROXY STATEMENT AND REGISTRATION STATEMENT, AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT BCIC, TCPC, THE MERGER AND RELATED MATTERS.Investors and security holders will be able to obtain the documents filed with the SEC free of charge at the SEC’s website, http://www.sec.gov and, for documents filed by TCPC, from TCPC’s website at http://www.tcpcapital.com and, for documents filed by BCIC, from BCIC’s website at http://www.blackrockbkcc.com.PARTICIPANTS IN THE SOLICITATIONBCIC, its directors, certain of its executive officers and certain employees and officers of BlackRock Capital Investment Advisors, LLC and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Merger. Information about the directors and executive officers of BCIC is set forth in its proxy statement for its 2023 Annual Meeting of Stockholders, which was filed with the SEC on March 15, 2023. TCPC, its directors, certain of its executive officers and certain employees and officers of Tennenbaum Capital Partners, LLC and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Merger. Information about the directors and executive officers of TCPC is set forth in its proxy statement for its 2023 Annual Meeting of Stockholders, which was filed with the SEC on April 6, 2023. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the BCIC and TCPC stockholders in connection with the Merger will be contained in the Joint Proxy Statement when such document becomes available. These documents may be obtained free of charge from the sources indicated above.NO OFFER OR SOLICITATIONThis press release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this press release, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase any securities in BCIC, TCPC or in any fund or other investment vehicle managed by BlackRock or any of its affiliates.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906556090/en/ContactsBlackRock TCP Capital Corp.Katie [email protected] Capital Investment CorporationNik Singhal212.810.5427Press:Christopher Beattie646.231.8518

Business Wire

BlackRock TCP Capital Corp. and BlackRock Capital Investment Corporation Announce Merger Agreement

https://finance.yahoo.com/news/blackrock-tcp-capital-corp-blackrock-203100087.html

4ff6eee8-13c9-3bc6-aad9-a386ccd342e5

TCPC

BlackRock TCP Capital Corp. TCPC has entered into an agreement with BlackRock Capital Investment Corporation BKCC, wherein BKCC will merge with and into a wholly-owned indirect subsidiary of TCPC. The completion of the deal, subject to the approval of TCPC and BKCC shareholders, HSR Act approval and satisfaction of other customary closing conditions, is expected in the first quarter of 2024.Following the merger, BlackRock TCP Capital will continue to trade under the ticker TCPC and the surviving entity will continue as a subsidiary of TCPC.Deal DetailsPer the terms of the deal, BKCC shareholders will receive newly issued shares of TCPC common stock based on the ratio of the BKCC net asset value (“NAV”) per share divided by the TCPC NAV per share, each determined shortly before closing.Thus, the merger will result in an ownership split of the combined company proportional to each of TCPC’s and BKCC’s respective NAVs.In relation to the merger, TCPC’s advisor, a wholly-owned indirect subsidiary of BlackRock, Inc. BLK, agreed to some shareholder-friendly actions, which include a reduction in the base management fee rate from 1.50% to 1.25% on assets equal to or below 200% of the NAV of TCPC, with no change to the basis of the calculation.It includes a waiver of all or a portion of its advisory fees to the extent the adjusted net investment income of TCPC on a per-share basis is less than 32 cents per share in any of the first four fiscal quarters ending after the closing of the transaction, to the extent there are sufficient advisory fees to cover such deficit; and coverage of 50% of merger transaction costs for both TCPC and BKCC, up to a combined cap of $6 million.Before the closing of the deal, TCPC and BKCC intend to maintain usual course of declaring and paying quarterly dividends and, to the extent necessary, will declare any special distributions required to distribute sufficient taxable income to continue to comply with each of its regulated investment company statuses.Following the merger, the combined company is expected to have enhanced scale and a large asset base, including total assets of $2.4 billion and net assets of $1.1 billion.Moreover, the combined company will likely have better access to capital, including the potential to access debt financing on more favorable terms.The merger is expected to drive meaningful operating synergies via the elimination or reduction of redundant expenses.The merger is expected to drive accretion of net investment income over time through reduced management fees, lower combined operating expenses and opportunities to grow the portfolio through combined leverage capacity.Story continuesManagement CommentsRajneesh Vig, the co-head of US private capital for BLK and chairman and CEO of BlackRock TCP Capital, stated, “We are very excited to announce the transaction between BlackRock TCP Capital Corp. and BlackRock Capital Investment Corporation. This is an opportune time to combine our companies. With BCIC having successfully transformed its portfolio, our investment portfolios are now closely aligned. We believe this transaction positions the combined companies for sustained growth and will create meaningful value for the shareholders of both companies.”James Keenan, the interim CEO of BlackRock Capital Investment, said, “This transaction continues our commitment to build a best-in-class platform that offers clients products and solutions to capitalize on the expanding opportunities in private debt. Over the past 20 years, BlackRock has built leading private debt capabilities to help our clients achieve their investment objectives by aligning our proven investment excellence with long-term market opportunities. This merger is a strategic next step in the growth and evolution of our business development company platform, which is an important part of our Global Private Debt business.”Over the past six months, shares of TCPC have gained 5% whereas the BKCC stock has lost 5.7% compared with the industry’s 0.4% growth.Zacks Investment ResearchImage Source: Zacks Investment ResearchCurrently, TCPC and BKCC, each carry a Zacks Rank #2 (Buy) and BLK carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.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 reportBlackRock, Inc. (BLK) : Free Stock Analysis ReportBLACKROCK TCP CAPITAL CORP. (TCPC) : Free Stock Analysis ReportBlackRock Capital Investment Corporation (BKCC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

BlackRock TCP (TCPC), BlackRock Capital (BKCC) Sign Merger Deal

https://finance.yahoo.com/news/blackrock-tcp-tcpc-blackrock-capital-180200752.html

be0486a8-286b-38f5-9122-944e0e938448

TDG

A month has gone by since the last earnings report for TransDigm Group (TDG). Shares have added about 1.5% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is TransDigm due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.TransDigm Beats on Q3 Earnings, Ups '23 EPS ViewTransDigm Group reported fiscal third-quarter 2023 adjusted earnings of $7.25 per share, which beat the Zacks Consensus Estimate of $6.33 by 14.5%. The bottom line improved 49.5% from the prior-year quarter’s reported figure of $4.85.Barring one-time items, the company recorded GAAP earnings of $6.14 per share compared with $4.10 in the year-ago quarter.SalesNet sales amounted to $1,744 million, up 24.7% from $1,398 million registered in the prior-year period. The reported figure also beat the Zacks Consensus Estimate of $1,677 million by 4%.Operating ResultsThe gross profit for the quarter was $1,029 million, up 26.1% from the year-ago quarter’s level of $816 million.Income from continuing operations increased 47.8% year over year to $352 million. The increase was primarily due to a rise in net sales and a favorable sales mix.Financial PositionTransDigm’s cash and cash equivalents as of Jul 1, 2023, amounted to $3,071 million, up from $3,001 million as of Sep 30, 2022.At the end of the fiscal third quarter, TDG’s long-term debt was $19.35 billion compared with $19.37 billion as of Sep 30, 2022.Cash from operating activities totaled $913 million compared with $675 million at the end of fiscal third-quarter 2022.GuidanceTransDigm has updated its financial guidance for fiscal 2023. The company now expects sales in the range of $6,525-$6,585 million compared with the previous guidance of $6,410-$6,500 million. The Zacks Consensus Estimate for the company’s full-year sales is pegged at $6.49 billion, lower than the company’s guided range.Story continuesThe company currently expects adjusted earnings of $24.94-$25.36 per share for fiscal 2023, up from the prior estimated range of $23.31-$24.19 per share. The Zacks Consensus Estimate for full-year earnings is pegged at $24.03 per share, lower than the company’s guided range.How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.The consensus estimate has shifted 8.41% due to these changes.VGM ScoresAt this time, TransDigm has an average Growth Score of C, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise TransDigm has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.Performance of an Industry PlayerTransDigm is part of the Zacks Aerospace - Defense Equipment industry. Over the past month, Teledyne Technologies (TDY), a stock from the same industry, has gained 8%. The company reported its results for the quarter ended June 2023 more than a month ago.Teledyne reported revenues of $1.42 billion in the last reported quarter, representing a year-over-year change of +5.1%. EPS of $4.67 for the same period compares with $4.43 a year ago.For the current quarter, Teledyne is expected to post earnings of $4.74 per share, indicating a change of +4.4% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.1% over the last 30 days.Teledyne has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, 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 reportTransdigm Group Incorporated (TDG) : Free Stock Analysis ReportTeledyne Technologies Incorporated (TDY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

TransDigm (TDG) Up 1.5% Since Last Earnings Report: Can It Continue?

https://finance.yahoo.com/news/transdigm-tdg-1-5-since-153059995.html

abf97d12-d2be-3960-9119-67f84e3df806

TDG

On September 7, 2023, Sarah Wynne, the Chief Financial Officer of TransDigm Group Inc (NYSE:TDG), sold 5,420 shares of the company. This move is part of a trend observed over the past year, where Wynne has sold a total of 5,600 shares and made no purchases.Warning! GuruFocus has detected 8 Warning Signs with TDG. Click here to check it out. TDG 30-Year Financial DataThe intrinsic value of TDGSarah Wynne is a seasoned financial executive with a wealth of experience in the aerospace industry. As the CFO of TransDigm Group Inc, she plays a crucial role in the company's financial strategy and operations. Her insider trading activities provide valuable insights into the company's financial health and future prospects.TransDigm Group Inc is a leading global designer, producer, and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today. The company's product offerings include mechanical/electro-mechanical actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, specialized AC/DC electric motors and generators, NiCad batteries and chargers, engineered latching and locking devices, rods and locking devices, engineered connectors and elastomers, cockpit security components and systems, aircraft audio systems, specialized lavatory components, seatbelts and safety restraints, engineered interior surfaces, and lighting and control technology.The insider transaction history for TransDigm Group Inc shows a clear trend of insider selling. Over the past year, there have been 27 insider sells and no insider buys. This trend could indicate that insiders believe the company's stock is currently overvalued.Insider Sell: CFO Sarah Wynne Sells 5,420 Shares of TransDigm Group IncOn the day of the insider's recent sell, shares of TransDigm Group Inc were trading for $883.16 apiece, giving the company a market cap of $48.11 billion. The price-earnings ratio is 46.45, which is higher than both the industry median of 33.58 and the companys historical median price-earnings ratio. This suggests that the stock may be overpriced compared to its earnings.Story continuesThe GuruFocus Value for TransDigm Group Inc is $822.68, resulting in a price-to-GF-Value ratio of 1.07. This indicates that the stock is fairly valued based on its GF Value. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance from Morningstar analysts.Insider Sell: CFO Sarah Wynne Sells 5,420 Shares of TransDigm Group IncIn conclusion, the insider's recent sell, along with the trend of insider selling over the past year, could be a signal that the stock is currently overvalued. However, the stock's price-to-GF-Value ratio suggests that it is fairly valued. Investors should carefully consider these factors when making investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: CFO Sarah Wynne Sells 5,420 Shares of TransDigm Group Inc

https://finance.yahoo.com/news/insider-sell-cfo-sarah-wynne-090100250.html

5966ae5c-de9b-37e4-91a9-e794a1a94d3a

TDY

THOUSAND OAKS, Calif., September 06, 2023--(BUSINESS WIRE)--Teledyne Technologies Incorporated (NYSE:TDY) today announced that Jason VanWees, Vice Chairman, will be participating in the following investor conferences:Jefferies Industrials ConferenceThursday, September 7, 2023, at 1:00 p.m. Eastern TimeMorgan Stanley 11th Annual Laguna ConferenceTuesday, September 12, 2023, at 7:35 a.m. Pacific TimeA live webcast of Teledyne’s presentation at both conferences may be accessed via the company’s website at www.teledyne.com/investors/events-and-presentations. Teledyne’s latest investor presentation is publicly available on the Company’s website at www.teledyne.com/investors/events-and-presentations.Teledyne Technologies is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. Teledyne’s operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne’s website at www.teledyne.com.Forward-Looking Information Cautionary NoticeTeledyne’s investor presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, with respect to management’s beliefs about the financial condition, results of operations and businesses of Teledyne in the future. Forward-looking statements involve risks and uncertainties, are based on the current expectations of the management of Teledyne and are subject to uncertainty and changes in circumstances. The forward-looking statements contained herein may include statements relating to stock option compensation expense, and about the continuing expected effects on Teledyne of the acquisition of FLIR and synergies related to the transaction, anticipated capital expenditures and product developments, and other strategic options. Forward-looking statements generally are accompanied by words such as "projects", "intends", "expects", "anticipates", "targets", "estimates", "will" and words of similar import that convey the uncertainty of future events or outcomes. All statements made in this communication that are not historical in nature should be considered forward-looking. By its nature, forward-looking information is not a guarantee of future performance or results and involves risks and uncertainties because it relates to events and depends on circumstances that will occur in the future.Story continuesActual results could differ materially from these forward-looking statements. Many factors could change the anticipated results, including: ongoing challenges and uncertainties posed by the COVID pandemic for businesses and governments around the world, including production, supply, contractual and other disruptions, such as COVID-related lockdowns, facility closures, furloughs and travel restrictions; changes in relevant tax and other laws; foreign currency exchange risks; rising interest rates; risks associated with indebtedness, as well as our ability to reduce indebtedness and the timing thereof; the impact of semiconductor and other supply chain shortages, higher inflation, including wage competition and higher shipping costs; labor shortages and competition for skilled personnel; the inability to develop and market new competitive products; inherent uncertainties involved in the estimates and judgments used in the preparation of financial statements and the providing of estimates of financial measures, in accordance with U.S. GAAP and related standards; disruptions in the global economy; the ongoing conflict between Russia and Ukraine, including the impact to energy prices and availability, especially in Europe; customer and supplier bankruptcies; changes in demand for products sold to the defense electronics, instrumentation, digital imaging, energy exploration and production, commercial aviation, semiconductor and communications markets; funding, continuation and award of government programs; cuts to defense spending resulting from existing and future deficit reduction measures or changes to U.S. and foreign government spending and budget priorities triggered by the COVID pandemic; impacts from the United Kingdom’s exit from the European Union; uncertainties related to the policies of the U.S. Presidential Administration; the imposition and expansion of, and responses to, trade sanctions and tariffs; the continuing review and resolution of FLIR’s export and tax matters; escalating economic and diplomatic tension between China and the United States; threats to the security of our confidential and proprietary information, including cybersecurity threats; natural and man-made disasters, including those related to or intensified by climate change; and our ability to achieve emission reduction targets and decrease our carbon footprint. Lower oil and natural gas prices, as well as instability in the Middle East or other oil producing regions, and new regulations or restrictions relating to energy production, including those implemented in response to climate change, could further negatively affect our businesses that supply the oil and gas industry. Weakness in the commercial aerospace industry negatively affects the markets of our commercial aviation businesses. In addition, financial market fluctuations affect the value of the Company’s pension assets. Changes in the policies of U.S. and foreign governments, including economic sanctions, could result, over time, in reductions or realignment in defense or other government spending and further changes in programs in which the Company participates.We continue to take action to assure compliance with the internal controls, disclosure controls and other requirements of the Sarbanes-Oxley Act of 2002. While we believe our control systems are effective, there are inherent limitations in all control systems, and misstatements due to error or fraud may occur and may not be detected. Additional factors that could cause results to differ materially from those described above can be found in Teledyne’s 2022 Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and in other documents which are on file with the SEC and available in the "Investors" section of Teledyne’s website, teledyne.com, under the heading "Investor Information."All forward-looking statements speak only as of the date they are made and are based on information available at that time. Teledyne does not assume any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906473210/en/ContactsJason VanWees(805) 373-4542

Business Wire

Teledyne to Participate in Upcoming Investor Conferences

https://finance.yahoo.com/news/teledyne-participate-upcoming-investor-conferences-120000805.html

e11db895-c2d7-3995-b503-2e3ab975100e

TDY

A month has gone by since the last earnings report for TransDigm Group (TDG). Shares have added about 1.5% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is TransDigm due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.TransDigm Beats on Q3 Earnings, Ups '23 EPS ViewTransDigm Group reported fiscal third-quarter 2023 adjusted earnings of $7.25 per share, which beat the Zacks Consensus Estimate of $6.33 by 14.5%. The bottom line improved 49.5% from the prior-year quarter’s reported figure of $4.85.Barring one-time items, the company recorded GAAP earnings of $6.14 per share compared with $4.10 in the year-ago quarter.SalesNet sales amounted to $1,744 million, up 24.7% from $1,398 million registered in the prior-year period. The reported figure also beat the Zacks Consensus Estimate of $1,677 million by 4%.Operating ResultsThe gross profit for the quarter was $1,029 million, up 26.1% from the year-ago quarter’s level of $816 million.Income from continuing operations increased 47.8% year over year to $352 million. The increase was primarily due to a rise in net sales and a favorable sales mix.Financial PositionTransDigm’s cash and cash equivalents as of Jul 1, 2023, amounted to $3,071 million, up from $3,001 million as of Sep 30, 2022.At the end of the fiscal third quarter, TDG’s long-term debt was $19.35 billion compared with $19.37 billion as of Sep 30, 2022.Cash from operating activities totaled $913 million compared with $675 million at the end of fiscal third-quarter 2022.GuidanceTransDigm has updated its financial guidance for fiscal 2023. The company now expects sales in the range of $6,525-$6,585 million compared with the previous guidance of $6,410-$6,500 million. The Zacks Consensus Estimate for the company’s full-year sales is pegged at $6.49 billion, lower than the company’s guided range.Story continuesThe company currently expects adjusted earnings of $24.94-$25.36 per share for fiscal 2023, up from the prior estimated range of $23.31-$24.19 per share. The Zacks Consensus Estimate for full-year earnings is pegged at $24.03 per share, lower than the company’s guided range.How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.The consensus estimate has shifted 8.41% due to these changes.VGM ScoresAt this time, TransDigm has an average Growth Score of C, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise TransDigm has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.Performance of an Industry PlayerTransDigm is part of the Zacks Aerospace - Defense Equipment industry. Over the past month, Teledyne Technologies (TDY), a stock from the same industry, has gained 8%. The company reported its results for the quarter ended June 2023 more than a month ago.Teledyne reported revenues of $1.42 billion in the last reported quarter, representing a year-over-year change of +5.1%. EPS of $4.67 for the same period compares with $4.43 a year ago.For the current quarter, Teledyne is expected to post earnings of $4.74 per share, indicating a change of +4.4% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.1% over the last 30 days.Teledyne has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, 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 reportTransdigm Group Incorporated (TDG) : Free Stock Analysis ReportTeledyne Technologies Incorporated (TDY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

TransDigm (TDG) Up 1.5% Since Last Earnings Report: Can It Continue?

https://finance.yahoo.com/news/transdigm-tdg-1-5-since-153059995.html

abf97d12-d2be-3960-9119-67f84e3df806

TEAM

Atlassian (TEAM) closed at $206.60 in the latest trading session, marking a -0.15% move from the prior day. This change lagged the S&P 500's 0.14% gain on the day. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.Coming into today, shares of the company had gained 4.79% in the past month. In that same time, the Computer and Technology sector gained 0.07%, while the S&P 500 lost 1.27%.Investors will be hoping for strength from Atlassian as it approaches its next earnings release. In that report, analysts expect Atlassian to post earnings of $0.53 per share. This would mark year-over-year growth of 47.22%. Our most recent consensus estimate is calling for quarterly revenue of $959.01 million, up 18.78% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $2.13 per share and revenue of $4.11 billion, which would represent changes of +10.94% and +16.19%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for Atlassian. 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.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.63% higher. Atlassian is holding a Zacks Rank of #3 (Hold) right now.In terms of valuation, Atlassian is currently trading at a Forward P/E ratio of 97.24. This represents a premium compared to its industry's average Forward P/E of 38.78.Story continuesIt is also worth noting that TEAM currently has a PEG ratio of 4.86. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software industry currently had an average PEG ratio of 1.65 as of yesterday's close.The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAtlassian Corporation PLC (TEAM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Atlassian (TEAM) Stock Sinks As Market Gains: What You Should Know

https://finance.yahoo.com/news/atlassian-team-stock-sinks-market-221518702.html

d4333206-c31d-33db-8b24-791383fb22ed

TEAM

On September 7, 2023, Michael Cannon-Brookes, Co-CEO, Co-Founder, and 10% Owner of Atlassian Corp (NASDAQ:TEAM), sold 8,241 shares of the company. This move is part of a larger trend for the insider, who over the past year has sold a total of 1,957,348 shares and purchased none.Warning! GuruFocus has detected 2 Warning Sign with TEAM. Click here to check it out. TEAM 30-Year Financial DataThe intrinsic value of TEAMMichael Cannon-Brookes is a prominent figure in the tech industry. He co-founded Atlassian Corp, a leading provider of team collaboration and productivity software, with Scott Farquhar in 2002. The company's products help teams organize, discuss, and complete their work, serving over 170,000 customers globally. Atlassian's suite of products includes JIRA, Confluence, Bitbucket, and Trello, among others.The insider's recent sell-off comes amidst a broader trend within Atlassian Corp. Over the past year, there have been 510 insider sells and no insider buys. This could potentially signal a bearish sentiment within the company's top ranks.Insider Sell: Co-CEO Michael Cannon-Brookes Sells 8,241 Shares of Atlassian CorpDespite the insider selling trend, Atlassian Corp's stock price remains robust. On the day of the insider's recent sell, shares of Atlassian Corp were trading at $206.27, giving the company a market cap of $53.17 billion.According to GuruFocus Value, Atlassian Corp is significantly undervalued. With a price of $206.27 and a GuruFocus Value of $403.14, the stock has a price-to-GF-Value ratio of 0.51. The GF Value is an intrinsic value estimate that takes into account historical multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.Insider Sell: Co-CEO Michael Cannon-Brookes Sells 8,241 Shares of Atlassian CorpThe insider's decision to sell shares could be influenced by a variety of factors. It's important to note that insider selling does not necessarily indicate a negative outlook for the company. Insiders may sell shares for personal reasons or to diversify their investment portfolio. However, the trend of insider selling at Atlassian Corp is worth monitoring for potential investors.In conclusion, while the insider's recent sell-off and the broader trend of insider selling at Atlassian Corp may raise eyebrows, the company's strong market cap and undervalued status according to GuruFocus Value suggest that the stock remains a potentially attractive investment opportunity.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: Co-CEO Michael Cannon-Brookes Sells 8,241 Shares of Atlassian Corp

https://finance.yahoo.com/news/insider-sell-co-ceo-michael-010542493.html

3f52f4a9-744e-3448-81de-adb108c77e45

TECH

Bio-Techne Corp (NASDAQ:TECH) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at 75.73, Bio-Techne Corp has witnessed a decline of 1.98% over a period, marked against a three-month change of -8.36%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that Bio-Techne Corp is well-positioned for substantial growth in the near future.TECH 30-Year Financial DataThe intrinsic value of TECHUnveiling the Investment Potential of Bio-Techne Corp (TECH): A Comprehensive Analysis of Financial Metrics and Competitive StrengthsDecoding the GF ScoreThe GF Score is a stock performance ranking system developed by GuruFocus using five aspects of valuation, which has been found to be closely correlated to the long-term performances of stocks by backtesting from 2006 to 2021. The stocks with a higher GF Score generally generate higher returns than those with a lower GF Score. Therefore, when picking stocks, investors should invest in companies with high GF Scores. The GF Score ranges from 0 to 100, with 100 as the highest rank.Here is a breakdown of Bio-Techne Corp's GF Score:1. Financial strength rank: 8/102. Profitability rank: 9/103. Growth rank: 9/104. GF Value rank: 9/105. Momentum rank: 8/10Each 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 slightly lower ranks in GF value and momentum, GuruFocus assigned Bio-Techne Corp the GF Score of 95 out of 100, which signals the highest outperformance potential.Understanding Bio-Techne Corp's BusinessBased in Minnesota, Bio-Techne Corp is a life sciences manufacturer supplying consumables and instruments for the pharma, biotech, academic, and diagnostic markets. The company reports in two segments, protein sciences (75% of revenue), and diagnostics and genomics (25%). The protein-focused segment makes equipment and associated consumables for protein characterization and analysis and sells antibodies for research and clinical purposes. In diagnostics, Bio-Techne provides controls and calibrators for diagnostic manufacturers and has a portfolio of diagnostic oncology assays. The United States accounts for about 55% of revenue, and the firm also has operations in EMEA (20% of sales), the U.K. (5%), and APAC (15%), with the rest of the world accounting for the remaining 5%.Story continuesUnveiling the Investment Potential of Bio-Techne Corp (TECH): A Comprehensive Analysis of Financial Metrics and Competitive StrengthsFinancial Strength BreakdownAccording to the Financial Strength rating, Bio-Techne Corp's robust balance sheet exhibits resilience against financial volatility, reflecting prudent management of capital structure.The Interest Coverage ratio for Bio-Techne Corp stands impressively at 25.95, underscoring its strong capability to cover its interest obligations. This robust financial position resonates with the wisdom of legendary investor Benjamin Graham, who favored companies with an interest coverage ratio of at least 5.With an Altman Z-Score of 12.7, Bio-Techne Corp exhibits a strong defense against financial distress, highlighting its robust financial stability.With a favorable Debt-to-Revenue ratio of 0.4, Bio-Techne Corp's strategic handling of debt solidifies its financial health.Profitability Rank BreakdownThe Profitability Rank shows Bio-Techne Corp's impressive standing among its peers in generating profit.Bio-Techne Corp Operating Margin has increased (3.41%) over the past five years, as shown by the following data: 2019: 20.60; 2020: 20.15; 2021: 26.07; 2022: 26.76; 2023: 25.60; .Growth Rank BreakdownRanked highly in Growth, Bio-Techne Corp demonstrates a strong commitment to expanding its business.The company's 3-Year Revenue Growth Rate is 14.4%, which outperforms better than 60.37% of 762 companies in the Biotechnology industryMoreover, Bio-Techne Corp 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 5.6, and the rate over the past five years is 16.1. This trend accentuates the company's continued capability to drive growth.Unveiling the Investment Potential of Bio-Techne Corp (TECH): A Comprehensive Analysis of Financial Metrics and Competitive StrengthsConclusionWith its strong financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights Bio-Techne Corp's unparalleled position for potential outperformance. This analysis underscores the company's robust financial health, impressive profitability, and promising growth prospects, making it a compelling investment opportunity for value investors.GuruFocus Premium members can find more companies with strong GF Scores using the following screener link: GF Score ScreenThis article first appeared on GuruFocus.

GuruFocus.com

Unveiling the Investment Potential of Bio-Techne Corp (TECH): A Comprehensive Analysis of ...

https://finance.yahoo.com/news/unveiling-investment-potential-bio-techne-160437555.html

62d4ec6c-f189-329b-997c-e2c559f23862

TECH

Today, Bio-Techne Corp (NASDAQ:TECH) experienced a daily loss of 2.26%, contributing to a 3-month loss of 8.53%. Despite these losses, the company posted a noteworthy Earnings Per Share (EPS) of 1.76. With these figures, the burning question is whether the stock is significantly undervalued. This article provides an in-depth analysis of Bio-Techne Corp's valuation, inviting readers to delve into the financial intricacies of this life sciences manufacturer.A Snapshot of Bio-Techne Corp (NASDAQ:TECH)Warning! GuruFocus has detected 6 Warning Signs with GNRC. Click here to check it out. TECH 30-Year Financial DataThe intrinsic value of TECHBased in Minnesota, Bio-Techne is a life sciences manufacturer supplying consumables and instruments for the pharma, biotech, academic, and diagnostic markets. The company reports in two segments, protein sciences (75% of revenue), and diagnostics and genomics (25%). The United States accounts for about 55% of revenue, with EMEA, the U.K., and APAC contributing to the rest. Despite a current stock price of $72.31, the GF Value, an estimation of fair value, is set at $106.85, suggesting that Bio-Techne (NASDAQ:TECH) might be significantly undervalued.Unveiling Bio-Techne (TECH)'s Value: Is It Really Priced Right? A Comprehensive GuideUnderstanding the GF ValueThe GF Value is a proprietary measure of a stock's intrinsic value, computed considering historical trading multiples, a GuruFocus adjustment factor based on past performance and growth, and future business performance estimates. The GF Value Line denotes the stock's ideal fair trading value. If the stock price is significantly above the GF Value Line, it is overvalued and its future return is likely to be poor. On the other hand, if it is significantly below the GF Value Line, its future return will likely be higher.Bio-Techne Corp (NASDAQ:TECH), with a market cap of $11.40 billion and a stock price of $72.31 per share, appears to be significantly undervalued based on the GF Value. Therefore, the long-term return of its stock is likely to be much higher than its business growth.Story continuesUnveiling Bio-Techne (TECH)'s Value: Is It Really Priced Right? A Comprehensive GuideLink: These companies may deliver higher future returns at reduced risk.Financial Strength of Bio-TechneCompanies with poor financial strength pose a high risk of permanent capital loss. To avoid this, investors must review a company's financial strength before purchasing shares. Key indicators of financial strength include the cash-to-debt ratio and interest coverage. Bio-Techne's cash-to-debt ratio of 0.45 ranks worse than 86.76% of 1518 companies in the Biotechnology industry. However, its overall financial strength is 8 out of 10, indicating strong financial health.Unveiling Bio-Techne (TECH)'s Value: Is It Really Priced Right? A Comprehensive GuideProfitability and Growth of Bio-TechneInvesting in profitable companies carries less risk. Bio-Techne has been profitable for 10 years over the past 10 years. Over the past 12 months, the company had revenues of $1.10 billion and an Earnings Per Share (EPS) of $1.76. Its operating margin of 25.6% is better than 91.93% of 1029 companies in the Biotechnology industry. Overall, GuruFocus ranks Bio-Techne's profitability as strong.Growth is a crucial factor in a company's valuation. Bio-Techne's 3-year average annual revenue growth is 14.4%, ranking better than 60.37% of 762 companies in the Biotechnology industry. However, its 3-year average EBITDA growth rate is 5.6%, ranking worse than 50.64% of 1256 companies in the Biotechnology industry.ROIC vs WACCAnother way to evaluate a company's profitability is to compare its Return on Invested Capital (ROIC) and the Weighted Average Cost of Capital (WACC). ROIC measures how well a company generates cash flow relative to the capital it has invested in its business. The WACC is the rate that a company is expected to pay on average to all its security holders to finance its assets. For the past 12 months, Bio-Techne's ROIC is 11.44, and its cost of capital is 11.89.Unveiling Bio-Techne (TECH)'s Value: Is It Really Priced Right? A Comprehensive GuideConclusionIn conclusion, the stock of Bio-Techne (NASDAQ:TECH) shows every sign of being significantly undervalued. The company's financial condition is strong and its profitability is robust. However, its growth ranks worse than 50.64% of 1256 companies in the Biotechnology industry. To learn more about Bio-Techne 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

Unveiling Bio-Techne (TECH)'s Value: Is It Really Priced Right? A Comprehensive Guide

https://finance.yahoo.com/news/unveiling-bio-techne-tech-value-153540074.html

284f1c87-6ff5-3d26-ad98-09e74c27872a