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TEL

Investors looking for stocks in the Electronics - Miscellaneous Components sector might want to consider either OSI Systems (OSIS) or TE Connectivity (TEL). But which of these two companies is the best option for those looking for undervalued stocks? Let's 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 proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.Right now, OSI Systems is sporting a Zacks Rank of #2 (Buy), while TE Connectivity has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that OSIS likely has seen a stronger improvement to its earnings outlook than TEL has recently. But this is just one piece of the puzzle for value investors.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.OSIS currently has a forward P/E ratio of 17.19, while TEL has a forward P/E of 19.38. We also note that OSIS has a PEG ratio of 1.56. 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. TEL currently has a PEG ratio of 2.75.Another notable valuation metric for OSIS is its P/B ratio of 3.09. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, TEL has a P/B of 3.59.Based on these metrics and many more, OSIS holds a Value grade of B, while TEL has a Value grade of C.Story continuesOSIS sticks out from TEL in both our Zacks Rank and Style Scores models, so value investors will likely feel that OSIS is the better option right now.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportOSI Systems, Inc. (OSIS) : Free Stock Analysis ReportTE Connectivity Ltd. (TEL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

OSIS vs. TEL: Which Stock Is the Better Value Option?

https://finance.yahoo.com/news/osis-vs-tel-stock-better-154007315.html

70523cbb-1945-3845-b38e-31f1a5fc05bd

TEL

The board of TE Connectivity Ltd. (NYSE:TEL) has announced that it will be paying its dividend of $0.59 on the 1st of December, an increased payment from last year's comparable dividend. This makes the dividend yield 1.8%, which is above the industry average. View our latest analysis for TE Connectivity TE Connectivity's Payment Has Solid Earnings CoverageWhile it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. However, TE Connectivity's earnings easily cover the dividend. As a result, a large proportion of what it earned was being reinvested back into the business.Looking forward, earnings per share is forecast to rise by 35.5% over the next year. If the dividend continues on this path, the payout ratio could be 28% by next year, which we think can be pretty sustainable going forward.historic-dividendTE Connectivity 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 annual payment back then was $0.84, compared to the most recent full-year payment of $2.36. 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. TE Connectivity has seen EPS rising for the last five years, at 14% per annum. 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 TE Connectivity's DividendIn summary, it is always positive to see the dividend being increased, and we are particularly pleased with its overall sustainability. The company is easily earning enough to cover its dividend payments and it is great to see that these earnings are being translated into cash flow. Taking this all into consideration, this looks like it could be a good dividend opportunity.Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. Meanwhile, despite the importance of dividend payments, they are not the only factors our readers should know when assessing a company. Companies that are growing earnings tend to be the best dividend stocks over the long term. See what the 14 analysts we track are forecasting for TE Connectivity for free with public analyst estimates for the company. 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.

Simply Wall St.

TE Connectivity (NYSE:TEL) Has Announced That It Will Be Increasing Its Dividend To $0.59

https://finance.yahoo.com/news/te-connectivity-nyse-tel-announced-121913991.html

f65e9479-0e16-35f6-b0ca-6957f5bf5c67

TELL

HOUSTON, August 07, 2023--(BUSINESS WIRE)--Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) continues to execute its integrated strategy by progressing construction of its Driftwood project and through production and sales of natural gas.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230806957468/en/Driftwood LNG construction as of 13 July 2023 (Photo: Business Wire)President and CEO Octávio Simões said, "Bechtel is progressing very well on Driftwood LNG construction, having driven over 9,000 piles and poured over 10,000 cubic feet of concrete for plant one and the storage tanks, and having recently prepared plant two’s site for piling work. We also hired former investment banker Simon Oxley as Chief Financial Officer and with his extensive experience and leadership, we are significantly enhancing our project financing efforts."Upstream segment results Three Months EndedJune 30, 2023Three Months EndedJune 30, 2022Net production17.2 Bcf9.0 BcfRevenue$31.9 million$61.3 millionOperating (loss) profit($28.7) million$38.5 millionAdjusted EBITDA*$8.1 million$53.2 millionOperating activitiesTellurian produced 17.2 billion cubic feet (Bcf) of natural gas for the quarter ended June 30, 2023, as compared to 9.0 Bcf for the same period of 2022. As of June 30, 2023, Tellurian’s natural gas assets included 31,117 net acres and interests in 157 producing wells.Consolidated financial resultsTellurian generated approximately $32.0 million in revenues from natural gas sales in the second quarter of 2023 compared to $61.3 million in the second quarter of 2022, a change driven by decreased realized natural gas prices partially offset by increased production volumes. Tellurian reported a net loss of approximately $59.6 million, or $0.11 per share (basic and diluted), for the quarter ended June 30, 2023, compared to a net loss of approximately $35.0 thousand, or $0.00 per share (basic and diluted), for the same period of 2022.Story continuesAs of June 30, 2023, Tellurian had approximately $1.3 billion in total assets, including approximately $106.7 million of cash and cash equivalents.* Non-GAAP measure – see the end of this press release for a definition and a reconciliation to the most comparable GAAP measure.About Tellurian Inc.Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol "TELL".For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNGTellurian will post a video by Executive Chairman Charif Souki on its website following the issuance of this release.CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTSThis press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words "anticipate," "assume," "believe," "budget," "estimate," "expect," "forecast," "initial," "intend," "may," "plan," "potential," "project," "proposed," "should," "will," "would," and similar expressions are intended to identify forward- looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood LNG project, and development, construction and financing activities. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2022, filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 22, 2023, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.Explanation and Reconciliation of Non-GAAP Financial MeasuresThe Company reports its financial results in accordance with accounting principles generally accepted in the United States of America ("GAAP"). However, management believes that Upstream segment Adjusted EBITDA may provide financial statement users with additional meaningful comparisons between current results and the results of the Company’s peers and of prior periods.Upstream segment Adjusted EBITDA excludes certain charges or expenditures. Upstream segment Adjusted EBITDA is a supplemental measure of performance and should not be viewed as a substitute for any GAAP measure.Management presents Upstream segment Adjusted EBITDA because (i) it is consistent with the manner in which the Company’s position and performance are measured relative to the position and performance of its peers and (ii) it is more comparable to earnings estimates provided by securities analysts.Upstream segment Adjusted EBITDA (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022Upstream segment operating (loss) profit($28,698) $38,505 ($31,685) $43,101Add back:       Depreciation, depletion and amortization24,4895,75645,9819,680Allocated corporate general andadministrative12,282 8,952 23,577 14,446Upstream segment Adjusted EBITDA$8,073$53,213 $37,873 $67,227 View source version on businesswire.com: https://www.businesswire.com/news/home/20230806957468/en/ContactsMedia:Joi LecznarEVP Public and Government AffairsPhone [email protected]:Matt PhillipsVice President, Investor RelationsPhone [email protected]

Business Wire

Tellurian Reports Second Quarter 2023 Results

https://finance.yahoo.com/news/tellurian-reports-second-quarter-2023-120300380.html

94119dc0-b3c3-38fc-8354-2dcefabde587

TELL

Baker HughesTellurian, Baker Hughes CEOsTellurian President and CEO Octávio Simões and Baker Hughes Chairman and CEO Lorenzo Simonelli at Gastech 2023 in Singapore on Sept. 5, 2023.SINGAPORE, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Tellurian Inc. (NYSE American: TELL) and Baker Hughes (NASDAQ: BKR) announced Wednesday an agreement to supply eight main refrigerant compression packages for Phase 1 of the Driftwood LNG project. The agreement secures a delivery schedule for the eight LM6000PF+ gas turbines, main refrigerant compressors, and control units required for Phase 1, supporting Driftwood’s ability to achieve initial liquefied natural gas (LNG) production in 2027.Baker Hughes is also on schedule to complete, by early next year, fabrication of the electric-powered, zero-emissions Integrated Compressor Line (ICL) packages and other turbomachinery equipment for Driftwood Pipeline 200, following the award in 2022.Tellurian President and CEO Octávio Simões said, “Bechtel has done a tremendous job preparing the site and has already completed the piling and compressor foundations for Plant 1 of Driftwood LNG. This agreement with Baker Hughes firms up our plans to secure the critical technology for Driftwood Phase 1. We value our continued, long-term relationship with Baker Hughes for delivering industry leading manufactured equipment and technology solutions to enhance our ability to deliver clean energy to the world.”“This agreement builds on the established collaboration between Baker Hughes and Tellurian as we continue to execute on our scope for the Driftwood Pipeline 200, which includes providing zero-emissions ICL compressor packages for their first deployment in North America,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Leveraging our 30 years of experience in LNG and broad portfolio of technologies for the natural gas value chain, we are pleased to support Tellurian also for the Driftwood liquefaction plant with our gas technology solutions.”About Tellurian Inc.Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL”. For more information, please visit www.tellurianinc.com.Story continuesFollow us on Twitter at twitter.com/TellurianLNGAbout Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTSThis press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward- looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood LNG project, and development, construction and financing activities. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2022, filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 22, 2023, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.For more information, please contact:TellurianJoi LecznarEVP Public and Government AffairsPhone +1.832.962.4044Email: [email protected] Hughes Media RelationsChiara ToniatoPhone: +39 3463823419        Email: [email protected] Hughes Investors RelationsChase Mulvehill+1 281-809-9088Email: [email protected] photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d3e31bf4-f0c5-46c9-9334-dbc4e0044659

GlobeNewswire

Tellurian and Baker Hughes Announce Agreement for Driftwood LNG Phase 1 Liquefaction Equipment

https://finance.yahoo.com/news/tellurian-baker-hughes-announce-agreement-010000653.html

48f2695a-3cc7-3a57-8a2b-6f51061fb172

TENX

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

TENX

By John Vandermosten, CFANASDAQ:TENXREAD THE FULL TENX RESEARCH REPORTSecond Quarter Financial and Operational ReviewTenax Therapeutics, Inc. (NASDAQ:TENX) reported 2Q:23 results on August 14, 2023 via its filing of Form 10-Q with the SEC. Despite the slow pace of advancement, we are impressed with the clinical data for both of Tenax’ PAH assets: levosimendan and imatinib. We see tremendous upside if dilution concerns can be addressed and a dramatic quality of life improvement for patients. Levosimendan is an especially remarkable opportunity for pulmonary hypertension patients with heart failure and preserved ejection fraction (PH-HFpEF) which offers no other approved therapies.Based on the confidence inspired by the recent patent issuance for oral and IV administration of levosimendan in PH-HFpEF, Tenax plans to pursue a Phase III study of oral levosimendan in PH-HFpEF patients. The US Patent Office set a precedent by recognizing PH-HFpEF as a condition separate from heart failure. With the recent $15.6 million raise, Tenax is in a position to start its Phase III levosimendan trial. We expect an Investigational New Drug (IND) application to be made in the near term reflecting the change to the oral formulation of levosimendan, initial trial preparation in 4Q:23 and first patient enrollment in 2024.Highlights for 2023 include:➢ Reverse stock split executed - January 5, 2023➢ $15.6 million public offering completed – February 2023➢ IV levosimendan patent for PH-HFpEF issued – March - 2023➢ Prioritization of TNX-103 (levosimendan for PH-HFpEF) in clinical trials – April 2023➢ PH-HFpEF patent for oral levosimendan issued – July 2023Tenax produced no revenues in 2Q:23 and incurred operating expenses of $1.2 million resulting in net loss of ($1.1) million, or ($0.05) per share.For the quarter ending June 30, 2023 versus the same prior year period:➢ General and administrative expenses fell 22% to $1.0 million primarily due to lower personnel costs related to reduced headcount, reduced legal and professional fees related and a decline in miscellaneous costs. A reduction in the amount of office space also contributed to the decline;Story continues➢ Research and development expenses fell 87% to $198,000 from $1.5 million on lower clinical and preclinical development costs as the company paused development activity as it prepares to begin a pivotal clinical trial in PH-HFpEF. These amounts were partially offset by an increase in regulatory consulting costs;➢ Net interest income was $131,000 due to greater cash balances and higher interest rates;➢ Net loss was ($1.1) million versus ($2.9) million, or ($0.05) and ($2.27) per share, respectively.At the end of 2Q:23, cash and equivalents totaled $13.4 million, compared to $2.1 million at the end of 2022. During the second quarter, cash burn was ($0.9) million. Financing cash flows were ($0.1) million related to the repayment of a short-term note. A capital raise was conducted in 1Q:23 which led to net financing cash flows of around $14 million during the first three months of the year.Additional Support for Oral Levosimendan Tenax announced that the US Patent and Trademark Office (USPTO) had granted a Notice of Allowance for its patent covering the use of oral levosimendan in pulmonary hypertension in patients with heart failure and preserved ejection fraction (PH-HFpEF). The Notice of Allowance is a precursor to patent issuance and declares that the invention meets the requirements for patentability. A fee is required prior to grant of the patent, which is the next anticipated step for Tenax prior to the grant of the patent.A patent for oral levosimendan in PH-HFpEF is significant as it extends protection for this use until the end of 2040. Patent extension and potentially other mechanisms could extend this even further. A patent grant would lengthen what would otherwise be available, which is five years of exclusivity as a New Chemical Entity (NCE). NCE exclusivity is available to drugs that contain an active moiety that has not been previously approved by the FDA in any other drug.Based on the confidence inspired by the recent USPTO successes with levosimendan in PH-HFpEF, Tenax plans to pursue a Phase III study of oral levosimendan in these patients. The US Patent Office set a precedent by recognizing PH-HFpEF as a condition separate from heart failure. This provides support for later approval of a patent for an oral version of levosimendan in a follow-on patent application that is being reviewed by the agency. With the recent $15.6 million raise, Tenax is in a position to start its Phase III levosimendan trial following clearance from the FDA regarding the use of oral levosimendan in PH-HFpEF patients.Imatinib ProgramWith its near-term development focus on PH-HFpEF, Tenax will soon begin its oral levosimendan trial. The company’s second program with imatinib for pulmonary arterial hypertension (PAH) will take a back seat due to financial considerations. While not active, there are events in motion that may orient investor interest towards Tenax’ imatinib program. This could complement any good news that emerges from the levosimendan trial next year. Tenax is not the only company pursuing a disease modifying therapy for PAH, as others including Aerovate Therapeutics (AVTE), Gossamer Bio (GOSS) and Acceleron/Merck (MRK) are all traveling along this route. We provide a review of the other programs and also identify some of the hurdles that Aerovate faces with using an inhaled form of imatinib. If Aerovate is not able to achieve favorable results with its inhaled imatinib, the focus may turn to Tenax which offers a modified formulation that sidesteps the gastrointestinal (GI) side effects that plagued the oral form of imatinib used in the IMPRES study.Inhaled ImatinibImatinib is the subject of a trial by Aerovate Therapeutics (AVTE) that is investigating a dry powder formulation of imatinib for PAH. The sponsor is running a Phase III clinical trial designated IMPAHCT and a long term extension of this trial called IMPAHCT-FUL. The primary endpoint for the Phase III will be the placebo-corrected change in the six-minute walk distance after 24 weeks of treatment. There will be ~460 participants in the randomized trial. As of mid-May, Aerovate expects to report topline data in 2Q:24.Imatinib is a tyrosine kinase inhibitor (TKI) and was shown to improve a PAH subject’s six-minute walk test in the IMPRES study. Another TKI, seralutinib, was effective in animal models using an inhaled route of administration but had limited effect in humans. Due to its mechanism, the inhaled route of administration may have limitations in humans that are not fully represented in the animal model.While the inhalation route is attractive on many fronts, including avoiding GI related side effects and direct delivery to the organ of interest, clinical efficacy using this route may not be feasible. Precise dosing and delivery to the alveolar-capillary region is difficult. Furthermore, drug delivered via the peripheral airways has a shorter effect than drug delivered via other routes as it is absorbed quickly.2SeralutinibGossamer Bio (GOSS) conducted a Phase 2 study of seralutinib in patients with pulmonary arterial hypertension (PAH). Seralutinib is a tyrosine kinase inhibitor (TKI) that targets PDGFRα/β, CSF1R, and c-KIT. It is specifically designed to be delivered via dry powder inhaler for the treatment of PAH. The company reported topline data in December 2022. While the primary endpoint of pulmonary vascular resistance (PVR) improved by 14.3% (p value = 0.031), the magnitude was lower than expected. The secondary endpoint was improvement in six-minute walk distance. Active arm results were better than placebo for this endpoint; however, they were not significant. Gossamer is expected to move forward with a Phase III, but lacks investor confidence as indicated by a market cap below cash holdings.SotaterceptAcceleron/Merck (MRK) are developing sotatercept, which is a is a first-in-class therapeutic fusion protein that targets an imbalance in activin–growth differentiation factor and BMP pathway signaling. Sotatercept is the subject of clinical trials investigating PAH. In a Phase III study designated STELLAR, Merck reported a clinically meaningful improvement in the six minute walk distance after 24 weeks in October 2022. An improvement in NT-proBNP level was also achieved in the study. Further analysis was provided in a New England Journal of Medicine article Phase 3 Trial of Sotatercept for Treatment of Pulmonary Arterial Hypertension.Selection of Zacks’ explanatory research for the levosimendan and imatinib programs:➢ June 3, 2020 – Results from Phase II levosimendan studyo TENX: Target Up on Solid HELP Results➢ April 9, 2021 – Background on imatinibo TENX: HELP Results & New Asset to Boot➢ June 2023 – Corporate Presentationo Tenax Therapeutics Corporate PresentationUpcoming Milestones➢ Filing of IND for levosimendan for oral PH-HFpEF – 3Q:23➢ First enrollment of Phase III PH-HFpEF subject in levosimendan trial – 1H:24SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR. DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks SCR provides and Zacks SCR receives quarterly payments totaling a maximum fee of up to $40,000 annually for these services provided to or regarding the issuer. Full Disclaimer HERE.________________________1. Tenax Therapeutics June 2023 Corporate Presentation2. Agnihotri, V., et al. An Update on Advancements and Challenges in Inhalational Drug Delivery for Pulmonary Arterial Hypertension. Molecules, May 2022.

Zacks Small Cap Research

TENX: Second Quarter Results

https://finance.yahoo.com/news/tenx-second-quarter-results-122000495.html

31f4f873-421c-3688-a795-489caea70214

TER

Similar to other ideas based on longstanding expert guidance, the allure of Cathie Wood stocks to buy centers on a core motivation: participants want to make money no matter the circumstances they find themselves in. Frankly, you can do a lot worse than leading picks from Cathie Wood.When people look to outside help with their portfolio, they want assurances that they’re not dealing with some fly-by-night operation hawking the latest system fad. Sure, some of the popular ideas in the archives of the Internet have performed well. However, as circumstances pivoted, many if not most of these fads collapsed. With stocks Cathie Wood likes, you’re dealing with a true professional.Another aspect that I appreciate about top Wood-approved stocks is that – by the consequence of her stature – she’s put to the test in ways you and I can only imagine. Knowing that talking heads on CNBC and Bloomberg are going to dissect your every move, you have every incentive to do well. She’s been under so much pressure and she still comes out on top. Therefore, you can reasonably put your trust in Wood’s investment choices.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTeradyne (TER)Teradyne Silicon Valley officeSource: Michael Vi / Shutterstock.comAccording to data from Stockcircle.com, one of the top Cathie Wood stocks to put on your watch list is Teradyne (NASDAQ:TER). Though not the sexiest name out there, Teradyne – which focuses on instrument manufacturing for measuring and testing electricity and electrical signals – offers critical services. You don’t have to take my word for it. Instead, you can ask enterprises like Qualcomm (NASDAQ:QCOM) and Intel (NASDAQ:INTC), both high-profile customers.Basically, Teradyne is a stagehand manager. While it might not get much public accolades, it keeps the show running. Unsurprisingly, then, it’s one of the stocks Cathie Wood likes. Per Stockcircle, the Wall Street matriarch increased exposure to TER by 92.7% in the second quarter of this year.Story continuesFinancially, Teradyne’s best attributes are its bulletproof balance sheet and consistent profitability undergirded by strong operating and net margins. Finally, TER isn’t just one of the top Wood-approved stocks; it’s also appreciated by analysts, who peg it as a moderate buy. As well, the price target lands at $119.15, implying over 10% upside potential.Kratos Defense (KTOS)The front of a Kratos (KTOS) office in Silicon Valley.Source: Michael Vi / Shutterstock.comAn obvious play on the aerospace and defense industry, Kratos Defense (NASDAQ:KTOS) presents an interesting case for Cathie Wood stocks. Generally, I just don’t imagine the Wall Street legend playing the defense sector. However, Kratos is relevant not just because of the current geopolitical environment but also for its core innovations.Specifically, the company specializes in unmanned aerial vehicles. One iteration that stands out is the XQ-58A Valkyrie, an experimental stealthy unmanned combat aircraft. Should the Valkyrie reach the full distribution phase, it could be a potential game-changer. At a minimum, the platform should keep our service members out of harm’s way in the next big conflict.To be sure, I don’t want to parade platforms of destruction. However, amid a global struggle for power and influence, it’s important for free nations to defend against tyranny. For that, I think KTOS makes an excellent idea among Wood’s investment choices. Lastly, analysts peg KTOS as a consensus strong buy with a $17.50 price target, implying nearly 9% upside.Archer Aviation (ACHR)Person holding smartphone with logo of US air taxi company Archer Aviation (ACHR) on screen in front of website. Focus on phone display. Unmodified photo.Source: T. Schneider / Shutterstock.comSimultaneously one of the most enticing but risky enterprises among Cathie Wood stocks, Archer Aviation (NYSE:ACHR) specializes in electric vertical take-off and landing (eVTOL) aircraft. Colloquially, Archer is also known as a flying car company. Marrying the quiet, zero-emissions profile of electric vehicles with the urban flexibility of helicopters, Archer offers massive upside potential.Indeed, the market isn’t waiting around. Since the beginning of this year, ACHR gained over 261% of its equity value. And it’s more than doubled in the trailing one-year period. Nevertheless, it’s one of the relatively discounted leading picks from Cathie Wood. Since its public market debut, ACHR fell 30%. On that basis, you’re not too late to ride the eVTOL trend.According to Precedence Research, the underlying industry could hit a valuation of $35.79 billion by 2032. That’s probably a key reason why Wood acquired $3.8 million worth of ACHR. On a final note, analysts peg ACHR as a consensus strong buy. Their average price target stands at $8.50, implying nearly 22% upside potential.On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.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 Cathie Wood Stocks to Own Now appeared first on InvestorPlace.

InvestorPlace

The 3 Most Promising Cathie Wood Stocks to Own Now

https://finance.yahoo.com/news/3-most-promising-cathie-wood-204920962.html

97ed41c4-8f03-34ac-9c6d-1a6a50de7641

TER

Teradyne Inc (NASDAQ:TER), a leading provider of testing equipment for semiconductors, electronics systems, and hard disk drives, experienced a daily loss of -5.58%. Over the past three months, the company has seen a loss of -4.23%. Despite these losses, its Earnings Per Share (EPS) stands at 3.37. This raises the question: Is the stock fairly valued? In this article, we will delve into an in-depth valuation analysis of Teradyne (NASDAQ:TER).Company OverviewWarning! GuruFocus has detected 6 Warning Sign with TER. Click here to check it out. TER 30-Year Financial DataThe intrinsic value of TERTeradyne entered the industrial automation market in 2015, selling collaborative and autonomous robots for factory applications. The company's most significant exposure is to semiconductor testing, serving vertically integrated, fabless, and foundry chipmakers with its equipment. The stock price of Teradyne currently stands at $99.69, while its GF Value is $98.89, indicating that the stock is fairly valued.Teradyne (TER): A Comprehensive Analysis of Its Market ValueUnderstanding GF ValueThe GF Value is a proprietary measure that represents the current intrinsic value of a stock. It is calculated based on three factors: historical multiples (PE Ratio, PS Ratio, PB Ratio and Price-to-Free-Cash-Flow) that the stock has traded at, a GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of the business performance. The GF Value Line on our summary page gives an overview of the fair value that the stock should be traded at.Based on GuruFocus' valuation method, the stock of Teradyne appears to be fairly valued. The GF Value estimates the stock's fair value based on three key factors: historical multiples, an internal adjustment based on the company's past business growth, and analyst estimates of future business performance. If the share price is significantly above the GF Value Line, the stock may be overvalued and have poor future returns. On the other hand, if the share price is significantly below the GF Value calculation, the stock may be undervalued and have higher future returns. Since Teradyne is fairly valued, the long-term return of its stock is likely to be close to the rate of its business growth.Story continuesTeradyne (TER): A Comprehensive Analysis of Its Market ValueLink: These companies may deliever higher future returns at reduced risk.Financial StrengthCompanies with poor financial strength offer investors a high risk of permanent capital loss. To avoid this, an investor must do their research and review a company's financial strength before deciding to purchase shares. Both the cash-to-debt ratio and interest coverage of a company are a great way to to understand its financial strength. Teradyne has a cash-to-debt ratio of 6, which ranks better than 65.7% of 895 companies in the Semiconductors industry. The overall financial strength of Teradyne is 9 out of 10, indicating that the financial strength of Teradyne is strong.Teradyne (TER): A Comprehensive Analysis of Its Market ValueProfitability and GrowthInvesting in profitable companies carries less risk, especially in companies that have demonstrated consistent profitability over the long term. Typically, a company with high profit margins offers better performance potential than a company with low profit margins. Teradyne has been profitable 9 years over the past 10 years. During the past 12 months, the company had revenues of $2.90 Bil and Earnings Per Share (EPS) of $3.37. Its operating margin of 22.32% is better than 85.07% of 938 companies in the Semiconductors industry. Overall, GuruFocus ranks Teradyne's profitability as strong.Growth is probably the most important factor in the valuation of a company. GuruFocus research has found that growth is closely correlated with the long term stock performance of a company. A faster growing company creates more value for shareholders, especially if the growth is profitable. The 3-year average annual revenue growth of Teradyne is 13.3%, which ranks better than 53.19% of 863 companies in the Semiconductors industry. The 3-year average EBITDA growth rate is 14.7%, which ranks worse than 59.66% of 766 companies in the Semiconductors industry.ROIC Vs WACCAnother way to look at the profitability of a company is to compare its return on invested capital and the weighted cost of capital. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business. The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. We want to have the return on invested capital higher than the weighted cost of capital. For the past 12 months, Teradyne's return on invested capital is 23.58, and its cost of capital is 14.55.Teradyne (TER): A Comprehensive Analysis of Its Market ValueConclusionOverall, Teradyne (NASDAQ:TER) stock appears to be fairly valued. The company's financial condition is strong and its profitability is strong. Its growth ranks worse than 59.66% of 766 companies in the Semiconductors industry. To learn more about Teradyne stock, you can check out its 30-Year Financials here.To find out the high quality companies that may deliever above average returns, please check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Teradyne (TER): A Comprehensive Analysis of Its Market Value

https://finance.yahoo.com/news/teradyne-ter-comprehensive-analysis-market-233232198.html

469075dc-652d-3dd4-9379-868367313c2a

TFC

Truist Financial Corporation (TFC) closed at $29.78 in the latest trading session, marking a +1.74% move from the prior day. This move outpaced the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.Prior to today's trading, shares of the company had lost 6.99% over the past month. This has lagged the Finance sector's loss of 4.09% and the S&P 500's loss of 1.27% in that time.Investors will be hoping for strength from Truist Financial Corporation as it approaches its next earnings release, which is expected to be October 19, 2023. On that day, Truist Financial Corporation is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 33.87%. Our most recent consensus estimate is calling for quarterly revenue of $5.68 billion, down 2.83% from the year-ago period.TFC's full-year Zacks Consensus Estimates are calling for earnings of $3.76 per share and revenue of $23.38 billion. These results would represent year-over-year changes of -24.19% and +1.48%, respectively.Investors might also notice recent changes to analyst estimates for Truist Financial Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.67% lower within the past month. Truist Financial Corporation is currently a Zacks Rank #5 (Strong Sell).Story continuesValuation is also important, so investors should note that Truist Financial Corporation has a Forward P/E ratio of 7.78 right now. This represents a discount compared to its industry's average Forward P/E of 8.36.We can also see that TFC currently has a PEG ratio of 1.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Major Regional industry currently had an average PEG ratio of 1.45 as of yesterday's close.The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTruist Financial Corporation (TFC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Truist Financial Corporation (TFC) Outpaces Stock Market Gains: What You Should Know

https://finance.yahoo.com/news/truist-financial-corporation-tfc-outpaces-214518973.html

27a2ea07-67b9-3fd6-bfe3-00a33a2cdddd

TFC

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

Motley Fool

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

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

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

TFX

Teleflex IncorporatedWAYNE, Pa., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Liam Kelly, Chairman, President and CEO, Teleflex Incorporated (NYSE: TFX), is scheduled to speak at the Morgan Stanley 21st Annual Global Healthcare Conference at the Sheraton New York, on Wednesday, September 13, 2023, at 11:30 a.m. (ET).A live audio webcast of the conference presentation will be available on the investor section of the Teleflex website at teleflex.com.About Teleflex IncorporatedTeleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgical, urology and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com.Teleflex is the home of Arrow®, Deknatel®, QuikClot®, LMA®, Pilling®, Rüsch®, UroLift® and Weck® – trusted brands united by a common sense of purpose.Contacts:TeleflexLawrence KeuschVice President, Investor Relations and Strategy [email protected]

GlobeNewswire

Teleflex to Present at the Morgan Stanley 21st Annual Global Healthcare Conference

https://finance.yahoo.com/news/teleflex-present-morgan-stanley-21st-103000512.html

575232bc-0f86-3180-b345-93aed8115933

TFX

Teleflex TFX is well-poised to grow in the coming quarters, backed by the performance of its global product category. The acquisition of Palette Life Sciences will bolster the company’s Interventional Urology business unit and meaningfully contribute to its long-term durable growth.Moreover, Teleflex is solvent enough to meet its near-term debt obligations. Meanwhile, persistent inflationary costs and a tough competitive space are worrisome for TFX.In the past year, this Zacks Rank #3 (Hold) stock has decreased 4.2% against the 6.4% growth of the industry and the 15.1% rise of the S&P 500 composite.Teleflex, the global provider of medical technologies, has a market capitalization of $10.04 billion. The company has an earnings yield of 6.22% against the industry’s -7.21%. TFX surpassed estimates in each of the trailing four quarters, delivering an average earnings surprise of 4.52%. Let’s delve deeper.TailwindsStrength Across the Diversified Product Category: In Vascular Access, the initial launch activities for the next-generation Arrow VPS Rhythm DLX navigation device and the new Arrow PICC pre-loaded with the NaviCurve Stylet have generated a positive customer response. Interventional Access saw strength across its largest product categories, including complex catheters, balloon pumps and OnControl.Zacks Investment ResearchImage Source: Zacks Investment ResearchIn the Surgical business, Teleflex continued to advance in the integration of Standard Bariatrics. Within the Original Equipment and Development Services segment, the double-digit growth in all product categories, including microcatheters, is reflective of the broad-based strength of the portfolio.New Acquisition to Contribute: In July, Teleflex announced a definitive agreement to acquire the privately held medical device company, Palette Life Sciences. The acquisition will expand TFX’s Interventional Urology portfolio, which includes the UroLift System, to include Non-Animal Stabilized Hyaluronic Acid spacer and tissue bulking products that improve patient outcomes in urology and urogynecology disorders, colorectal conditions and radiation oncology procedures.Story continuesWith urology being a growing market segment showing positive trends, the acquisition is likely to advance Teleflex’s strategic vision and play a role in providing differentiated technology to urologists and related specialties.Favorable Solvency: At the end of the second quarter of 2023, Teleflex reported cash and cash equivalents of $250.82 million, while the current portion of the debt remained significantly lower at $88 million. This shows that the company has sufficient cash for debt repayment despite the economic slowdown. In addition, TFX’s debt-to-capital ratio totaled 27% compared with the industry’s 31.5% as of Jun 30, 2023.DownsidesRising Expenses – a Concern: In the second quarter, the company’s adjusted gross margin was affected by continued cost inflation, product recalls and an unfavorable impact on productivity due to raw material supply. SG&A expenses rose 3%, while R&D expenses increased 6.8% compared to the last year.A Tough Competitive Landscape: Teleflex competes with companies, ranging from small startup enterprises to larger and more established companies that have access to significantly greater financial resources. Furthermore, extensive product research and development and rapid technological advances characterize the market in which we compete.Per management, the company competes primarily based on clinical superiority and innovative features that enhance patient benefits, product reliability, performance, customer and sales support and cost-effectiveness. Its major competitors include Medtronic and Becton, and Dickinson and Company.Estimate TrendThe Zacks Consensus Estimate for TFX’s 2023 earnings per share (EPS) has remained constant at $13.29 in the past 30 days.The Zacks Consensus Estimate for the company’s 2023 revenues is pegged at $2.96 billion. This suggests a 6.07% rise from the year-ago reported number.Key PicksSome better-ranked stocks in the broader medical space are Haemonetics HAE, SiBone SIBN and Quanterix QTRX.Haemonetics has an earnings yield of 4.23% against the industry’s -1.33%. Haemonetics’ earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 19.39%. Its shares have risen 22.3% compared to the industry’s 0.6% decline in the past year.HAE sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.SiBone, carrying a Zacks Rank #2 (Buy) at present, has a long-term estimated earnings growth rate of 22.9% compared with the industry’s 16.5%. Shares of the company have rallied 37.7% compared with the industry’s 6.4% rise over the past year.SIBN’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 20.37%.Quanterix, carrying a Zacks Rank #2 at present, has an estimated earnings growth rate of 62.8% for the current year compared with the industry’s 15.2%. Shares of QTRX have risen 206.8% compared to the industry’s 0.6% decline over the past year.Quanterix’s earnings surpassed estimates in each of the trailing four quarters, delivering an average earnings surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.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 ReportTeleflex Incorporated (TFX) : Free Stock Analysis ReportQuanterix Corporation (QTRX) : Free Stock Analysis ReportSiBone (SIBN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why You Should Retain Teleflex (TFX) Stock for Now

https://finance.yahoo.com/news/heres-why-retain-teleflex-tfx-124100127.html

ce96cf6d-3e4f-395f-b1a5-15a3bebceaa0

TGI

It has been about a month since the last earnings report for Triumph Group (TGI). Shares have added about 3% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Triumph Group due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Triumph Group Beats Q1 Sales Estimates, Reports LossTriumph Group reported a first-quarter fiscal 2024 (ended Jun 30, 2023) adjusted loss of 10 cents per share, which came in wider than the Zacks Consensus Estimate of a loss of 5 cents per share. The bottom line declined massively from earnings of 12 cents reported in the prior-year quarter.Including one-time adjustments, TGI reported a GAAP loss of 19 cents per share in the first quarter of fiscal 2024 compared with 16 cents in the prior-year quarter.Total SalesTriumph Group’s net sales in the quarter under review were $327.1 million, which beat the Zacks Consensus Estimate of $324 million by 0.9%. However, the top line declined 6.4% from $349.4 million in the year-ago quarter.Excluding divestitures and exited programs, organic sales in the quarter were up 14% year over year. The rise was driven by increases in commercial OEM sales, an improvement in commercial aftermarket sales and recovering military OEM sales.Operational HighlightsIn the first quarter of fiscal 2024, Triumph Group generated an adjusted operating income of $24.4 million, which decreased 25.2% from the year-ago reported figure.Interest expenses and others amounted to $38.5 million, up 20.5% from the prior-year quarter.Triumph Group’s backlog was $1.74 billion, up 10% from the prior fiscal year-end, primarily on commercial narrowbody platforms.Segmental PerformanceInteriors: The segment’s sales totaled $36.6 million, down 61.4% from $94.8 million in the year-ago quarter. The segment reported an operating income of $2.6 million in the first quarter of fiscal 2024.Story continuesSystems & Support: The segment’s sales improved 14.1% year over year to $290.6 million. The operating income was $45.8 million in the first quarter of fiscal 2024.Financial PositionAs of Jun 30, 2023, TGI’s cash and cash equivalents totaled $146.3 million compared with $227.4 million as of Mar 31, 2023.Its long-term debt (excluding the current portion) amounted to $1.68 billion as of Jun 30, 2023, down from $1.69 billion as of Mar 31, 2023.The net cash outflow from operating activities as of Jun 30, 2023 was $63.7 million compared with a net cash outflow of $93 million in the year-ago period.Triumph Group’s capital expenditures were $6.4 million as of Jun 30, 2023 compared with $3 million in the prior year.GuidanceTriumph Group initiated its financial guidance for fiscal 2024. It expects to generate net sales in the range of $1.39-$1.43 billion. The Zacks Consensus Estimate for revenues is pegged at $1.43 billion, toward the high end of the company’s guided range.TGI expects cash used in operations in the range of $60-$80 million in fiscal 2024. Free cash flow is anticipated in the band of $35-$50 million for fiscal 2024.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.The consensus estimate has shifted -40% due to these changes.VGM ScoresCurrently, Triumph Group has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions has been net zero. Notably, Triumph Group has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerTriumph Group is part of the Zacks Aerospace - Defense Equipment industry. Over the past month, Hexcel (HXL), a stock from the same industry, has gained 7.8%. The company reported its results for the quarter ended June 2023 more than a month ago.Hexcel reported revenues of $454.3 million in the last reported quarter, representing a year-over-year change of +15.6%. EPS of $0.50 for the same period compares with $0.33 a year ago.For the current quarter, Hexcel is expected to post earnings of $0.42 per share, indicating a change of +27.3% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.3% over the last 30 days.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Hexcel. Also, the stock has a VGM Score of C.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTriumph Group, Inc. (TGI) : Free Stock Analysis ReportHexcel Corporation (HXL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Triumph Group (TGI) Up 3% Since Last Earnings Report?

https://finance.yahoo.com/news/why-triumph-group-tgi-3-153137089.html

6c7a802d-e527-3c29-af91-7d29e47085ca

TGI

Defense stocks’ fortunes are closely related to factors such as government defense spending, geopolitical risks and conflicts, and new technological advancements in warfare. Therefore, it comes as little surprise that increased levels of military expenditure, Russia’s invasion of Ukraine, and ongoing tensions in the South China Sea generally bode well for defense stocks.Continue reading

Investopedia

Top Defense Stocks for Q3 2023

https://finance.yahoo.com/m/ab66f8dd-3798-30ec-85a3-2042d7135316/top-defense-stocks-for-q3-2023.html

ab66f8dd-3798-30ec-85a3-2042d7135316

TGL

NEW YORK and KUALA LUMPUR, Malaysia, Aug. 21, 2023 /PRNewswire/ -- Abe Yus Malaysia, a distinguished F&B brand under the esteemed Treasure Global Inc (NASDAQ: TGL) umbrella, proudly announces its successful accreditation in the esteemed Perbadanan Nasional Berhad (PERNAS) Pre-Franchise Program. This significant achievement paves the way for aspiring Bumiputera entrepreneurs to access startup financing, marking a milestone in culinary entrepreneurship and empowerment.(PRNewsfoto/Treasure Global Inc)Abe Yus Malaysia has garnered renown for its delectable "Kari Puffs" from grab-and-go food carts, establishing itself as a frontrunner in the Malaysian F&B landscape. With a steadfast commitment to innovation, quality, and customer satisfaction, the brand has continued to thrive, even amid challenges.The accreditation by PERNAS attests to the remarkable quality and business potential of Abe Yus Malaysia's F&B concepts. This recognition not only validates the brand's excellence but also opens doors for Bumiputera entrepreneurs to collaborate with a proven entity in the culinary world.In line with this accreditation, potential franchisees from the Bumiputera community can now leverage PERNAS financing options, significantly reducing entry barriers and fostering entrepreneurship within the F&B industry. This strategic partnership between Abe Yus Malaysia and PERNAS contributes to the growth of local talents and the overall economic development of the community.Mr. Sam Teo, Chief Executive Officer of Treasure Global Inc, commented, "Abe Yus Malaysia's PERNAS Pre-Franchise Program accreditation is an exceptional achievement that highlights the brand's unwavering commitment to excellence. This milestone enhances our shareholders' investments by expanding our brand's reach and empowering Bumiputera entrepreneurs through accessible startup financing."About Abe Yus MalaysiaAbe Yus Malaysia is a rapidly expanding group of Malaysian F&B businesses, celebrated for its iconic "Kari Puffs" available through grab-and-go food carts. The brand's diverse portfolio includes the  popular Kari Puff Abe Yus Carts, Abe Yus Warung street food kiosk, Abe Yus Cafe Restaurants, and the convenience-focused Abe Yus Marts B2C online e-commerce delivery service. With a steadfast commitment to quality and innovation, Abe Yus Malaysia has established a strong presence in the local culinary landscape and plans to further expand its footprint across Southeast Asia.Story continuesFor more information, please visit https://www.facebook.com/abeyus.my/About Treasure Global IncTreasure Global is a Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital F&B management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in SEA for popular restaurant chains, while providing them with the TAZTE solution. As of March 31, 2023, ZCITY had over 2,400,000 registered users.For more information, please visit https://treasureglobal.co/Forward Looking StatementsThis press release may contain 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. Such forward-looking statements are characterized by future or conditional verbs such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate" and "continue" or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's initial public offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. These forward-looking statements cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.For further information, please contact:U.S. Investor ContactPhil CarlsonKCSA Strategic [email protected] Investor [email protected] ContactSue Chuah, Chief Marketing OfficerTreasure Global [email protected] original content to download multimedia:https://www.prnewswire.com/apac/news-releases/treasure-globals-abe-yus-malaysia-kari-puff-abe-yus-advances-with-expansion-via-pernas-pre-franchise-program-accreditation-301905523.htmlSOURCE Treasure Global Inc

PR Newswire

Treasure Global's Abe Yus Malaysia (Kari Puff Abe Yus) Advances With Expansion via PERNAS PRE-FRANCHISE PROGRAM Accreditation

https://finance.yahoo.com/news/treasure-globals-abe-yus-malaysia-120000323.html

985d88cc-e257-3cf2-b306-2ad38f1d0c15

TGL

Treasure Global Inc.NEW YORK and KUALA LUMPUR, Malaysia, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“TGL”, “Treasure Global,” or the “Company”), an innovative technology solutions provider, today announced that the Company will participate at the H.C. Wainwright 25th Annual Global Investment Conference to be held at The Lotte New York Palace Hotel in New York City, September 11-13, 2023.TGL’s team will be available for one-on-one meetings throughout the conference. For more information about the conference, or to schedule a one-on-one meeting with TGL’s management team, please contact your appropriate H.C. Wainwright representative, or send an email to KCSA Strategic Communications at [email protected] Treasure Global IncTreasure Global is a Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital F&B management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in SEA for popular restaurant chains, while providing them with the TAZTE solution. As of March 31, 2023, ZCITY had over 2,400,000 registered users.For more information, please visit https://treasureglobal.co/For further information, please contact:U.S. Investor ContactPhil CarlsonKCSA Strategic [email protected] Investor [email protected] ContactSue Chuah, Chief Marketing OfficerTreasure Global [email protected]

GlobeNewswire

Treasure Global to Participate in the H.C. Wainwright 25th Annual Global Investment Conference, September 11-13, 2023

https://finance.yahoo.com/news/treasure-global-participate-h-c-120000174.html

7bbb44a8-b7f0-360b-a795-52310ff9499c

TGT

(Bloomberg) -- To be a US retail worker in 2023 means fielding an onslaught of growing American anxieties about everything from high prices to politics. Increasingly, some workers say the job isn’t worth the wages.Most Read from BloombergHong Kong Extends Shutdown After Record Rain Overwhelms CityUS Probes Made-in-China Chip as Tensions Flare Over TechnologyApple’s 2-Day Slide Nears $200 Billion on China IPhone CurbsTrudeau Says There’s No Room for Political Rapprochement With China‘Blame the Boomers’ for Surging House Prices, Barclays SaysLow pay, erratic schedules and monotonous tasks have long been a challenge for the nearly 8 million Americans working in retail, but the pandemic years have added a host of taxing new duties. Employees must cope with an uptick in shoplifting and customer orneriness. They manage online orders and run up and down the aisles to unlock items as quotidian as toothpaste.A 2022 McKinsey study found that the quit rate for retail workers is more than 70% higher than in other US industries. And the Covid years made the problem worse. Before 2020, turnover for part-time retail employees — who make up the bulk of the in-store work force — hovered around 75%, according to data from Korn Ferry. Since then it’s shot up to 95% and hasn’t budged, which has at times led to understaffed stores.“They expected so much,” says Henry Demetrius, speaking about his bosses at a Walgreens in Brooklyn, New York, where he worked as a customer service associate for a year.Demitrius, who was 17 when he was hired, spent his days toiling as cashier, janitor, shelf stocker and passport photo taker. At times, it seemed he might have to provide security, too.One time a visitor came in and demanded all the electronic items behind the counter, keeping his hand in his pocket like he had a gun. Demetrius did as he was told. The guy grabbed the gear and walked out of the store without paying. “I was like, wait, did I just get robbed?” Demetrius said.Story continuesIt was the weight of these things that eventually drove him out of the minimum-wage gig in 2021. “I had to quit and take a break from working for like a year just to regain the ability to breathe and to focus,” he says.Kris Lathan, a spokesperson for Walgreens Boots Alliance Inc., says “safety and security of our patients, customers and team members is our priority.” The company also offers mental health and wellbeing support, including free counseling sessions, Lathan says.The declining worker experience follows a tough decade for retailers. Stores that survived the “retail apocalypse” have had to find ways to cut costs and boost profits with fewer shoppers. For many, particularly small brands, that has meant reducing headcount, or finding other ways to bring in money. Physical locations increasingly double as returns and logistics centers, as companies build out hybrid online and offline services. The early years of the pandemic brought a slight respite, as people stuck at home spent their time — and stimulus checks — on online shopping. But that quickly gave way to supply chain issues that snarled inventories and the era of high inflation.Amanda Sukhdeo, a 20-year-old cashier at a children’s clothing store in the Bronx, New York finds herself frequently struggling to reason with parents unhappy with the price tag. “Sometimes customers are understanding about it,” she says. “Sometimes, not so much.” She can’t help but empathize as she rings up purchases and sees how much they’re paying. “In my head, sometimes, I’m like, oh wow, this is crazy!” Sukhdeo says.Much of this isn’t unique to the US. Retailers all over have struggled to adapt to new shopping habits and ebbs and flows in the economy. Cost-of-living crises have led to reported rises in abusive shoppers and crime in the UK, Hong Kong, Australia and New Zealand. Staff are unhappy: A recent survey of managers in the UK found absences on the rise. But US workers tend to have fewer job protections and benefits, and less leverage to improve their working conditions.To hear rank-and-file retail employees tell it, working conditions started to deteriorate when they returned to the job after mandatory Covid lockdowns. Customers didn’t particularly like being told to wear masks or forgo free samples. But as health and safety protocols eased, tensions didn’t.“You’re just kind of at the mercy of customers and however they’re feeling,” says Adam Ryan, who works at a Target in Virginia.Nearly four out of five companies have seen a rise in “guest-on-associate violence” over the last five years, according to the National Retail Federation, a trade group. Large retailers say their annual apprehension of shoplifters climbed by more than 50% in 2022, according to a survey by Jack L. Hayes International, a loss prevention consulting firm headquartered in Wesley Chapel, Florida. Dick’s Sporting Goods, Nordstrom and Dollar Tree all played up theft in recent investor calls.And in today’s era of political polarization, some have been caught in the crossfire of the culture war — most notably at Target Corp., which pulled some LGBTQ-themed merchandise from its shelves earlier this year after employees were subjected to what CEO Brian Cornell described as “gut-wrenching” threats from certain customers. “Violence in stores for political reasons is something that we didn’t really experience in the past,” says Stuart Appelbaum, president of the 100,000-member Retail, Wholesale and Department Store Union.Target declined to comment.Early on in the pandemic, workers say they didn’t feel equipped to deal with their changed environment. On Christmas Eve in 2020, Sarah Doherty was working the register at an American Eagle in Lynnfield, Massachusetts, when a man walked into the store and bought a pair of khakis. He returned soon after saying they didn’t fit. Because of Covid-19, he was told, the store wasn’t taking returns. Maybe he hadn’t seen the sign by the door warning of the policy?The customer started screaming at Doherty, venting his frustration not just about the policy but the pandemic itself. The shopper finally left, but not before nearly getting into a fight with another customer in the checkout line who tried to calm him down. Doherty was shaken. “I was only an 18-year-old girl,” she says. “It was just a little stressful having a man yell at you on Christmas Eve.”Alissa Heumann, a spokesperson for American Eagle Outfitters Inc., wouldn’t comment on Doherty’s experience but says, “We are committed to the health, safety and wellbeing of our associates.”Doherty now works at a smaller retailer where she’s been provided with de-escalation training, which has made it easier for her to handle unhappy shoppers. “The first day I was there, they talked us through the best ways to calm down customers when there’s a problem,” Doherty says. “That’s definitely important.”That kind of training has become more widespread, but Patrick Fennell, an assistant professor of marketing at Kennesaw State University, has found that less than 65% of lower-level-employees have received such instruction. That compares to 82% of managers.“The majority of the folks we talked to were in the lower levels,” Fennell says. “They were not really familiar with how to adequately handle these situations.”Workers, for their part, are conflicted about their role. A 2023 study of frontline retail workers co-authored by Fennell found that 89% have negative feelings about stepping in when customers are behaving badly.“You know, that’s kind of like the basic cardinal rule: The customer’s always right and don’t upset them, otherwise you’re gonna have trouble with your management even if you know it’s not your fault,” says Ryan, the Target worker.On the other hand, Fennell says, some workers are frustrated when they are forbidden from intervening.Artavia Milliam, who works at an H&M in New York’s Times Square, has pretty much seen it all. She watched a shoplifter shove one of her co-workers when he asked the guy not to steal items from the store. A manager has had a knife pulled on him when he tried to do the same. Milliam herself has been cursed out by a customer whom she asked to remove a drink from a clothing display. The shopper later apologized, saying she’d been having a bad day.She’s also regularly fielding customer complaints about how much the store’s prices have risen, thanks to inflation. “All we can say is, hey, everything went up,” she said. “We don’t set the prices.”Milliam says the most unpleasant development is that some customers began relieving themselves in the store’s fitting rooms. “That’s pretty much post-pandemic,” she says. “It wasn’t much of an issue before.” Milliam says she and her co-workers complained to their union, the RWDSU, which got H&M to bring in an outside firm to clean the rooms instead of relying on store employees to do it. H&M declined to comment.Milliam and her fellow employees, however, are hardly the norm in the US. According to the Bureau of Labor Statistics, 5% of retail employees were represented by a union in 2022. That’s a much smaller share than in many European countries, where wages are higher and retail workers are more likely to have health insurance.Yet as their working conditions grow more difficult, US retail employees are warming to the idea of union representation. “The pandemic opened people’s eyes,” says the RWDSU’s Appelbaum. “It’s never easy, but people feel that organizing is more necessary now than they realized before in order to protect themselves at work.”Retail wages are rising slightly faster than those in other industries, but retail employees still get paid a lot less than the median US worker. From 2006 to 2022, the median wage for retail salespeople rose 55% while US workers overall saw a 52% gain. Since 2019, retail wages are up 21%, compared with a 16% gain overall.Still, inflation has eaten a lot of that away, leaving workers questioning whether it’s worth it to deal with such headaches when they’re only making minimum wage. (An exception is Milliam, who has worked at H&M for 13 years and says she’s doing better thanks to her union — although she laments that inflation is taking a bite out of her paycheck, too.)Yorlenny Morillo, 28, has worked for a variety of retailers in the New York City area ranging from thrift stores to national chains. “I can’t stress enough how much I actually do love the work,” she says. “I don’t mind fixing racks all day. I don’t mind dusting a store.”But Morillo has often worked for minimum wage and has had difficulty getting enough hours to get by. She says it helps that she lives with her partner who has a higher-paying job at Cole Haan. Things are looking up for her, though. Morillo recently got a job at a Staples in Brooklyn, and she says it’s the first time she’s been offered health-care coverage. Up until now, she’s been on Medicaid.--With assistance from Ella Ceron and Alexandre Tanzi.Most Read from Bloomberg BusinessweekHuawei’s Surprise Phone Gives Ammo to Biden Doubters on ChinaLyme Disease Has Exploded, and a New Vaccine Is (Almost) HereIs Carlos Alcaraz the Next Billion-Dollar Tennis Player?How a Tiny Mexican Border City Built a Budget Dental EmpireThe Hostile Takeover of Blue Cities by Red States©2023 Bloomberg L.P.

Bloomberg

US Retail Workers Are Fed Up and Quitting at Record Rates

https://finance.yahoo.com/news/us-retail-workers-fed-quitting-040104626.html

ef6805bd-ce39-322e-b5cf-a446d978241c

TGT

Costco (NASDAQ: COST) stock has been a steady performer for investors this year. Shares have stayed ahead of the market rally so far in 2023 while beating rival retailers Walmart (NYSE: WMT) and Target (NYSE: TGT). The warehouse giant has a lot going for it as a business, including steady earnings that flow from subscription fees.Continue reading

Motley Fool

Costco's Sales Update: Can Wins in Stores Offset Weakness Online?

https://finance.yahoo.com/m/fb5cb322-3345-3814-91f7-6f3547f4abe5/costco-s-sales-update-can.html

fb5cb322-3345-3814-91f7-6f3547f4abe5

THC

Tenet Healthcare (THC) closed the most recent trading day at $77.56, moving -1.08% from the previous trading session. This change lagged the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.48%, and the Nasdaq, a tech-heavy index, added 0.11%.Prior to today's trading, shares of the hospital operator had gained 5.82% over the past month. This has outpaced the Medical sector's loss of 0.06% and the S&P 500's loss of 1.25% in that time.Tenet Healthcare will be looking to display strength as it nears its next earnings release. In that report, analysts expect Tenet Healthcare to post earnings of $1.18 per share. This would mark a year-over-year decline of 18.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.02 billion, up 4.53% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.73 per share and revenue of $20.29 billion. These totals would mark changes of -15.74% and +5.83%, respectively, from last year.Investors might also notice recent changes to analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.3% higher. Tenet Healthcare is currently sporting a Zacks Rank of #2 (Buy).Story continuesValuation is also important, so investors should note that Tenet Healthcare has a Forward P/E ratio of 13.68 right now. This represents a discount compared to its industry's average Forward P/E of 14.43.We can also see that THC currently has a PEG ratio of 2.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. THC's industry had an average PEG ratio of 1.72 as of yesterday's close.The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.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 reportTenet Healthcare Corporation (THC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Tenet Healthcare (THC) Dips More Than Broader Markets: What You Should Know

https://finance.yahoo.com/news/tenet-healthcare-thc-dips-more-221510327.html

f22fb868-8069-35f0-8c2f-1835138b49f8

THC

Tenet Healthcare (THC) closed the most recent trading day at $77.24, moving +0.78% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.7%. At the same time, the Dow lost 0.57%, and the tech-heavy Nasdaq lost 1.06%.Prior to today's trading, shares of the hospital operator had gained 4.71% over the past month. This has outpaced the Medical sector's gain of 0.86% and the S&P 500's gain of 0.58% in that time.Tenet Healthcare will be looking to display strength as it nears its next earnings release. In that report, analysts expect Tenet Healthcare to post earnings of $1.18 per share. This would mark a year-over-year decline of 18.06%. Meanwhile, our latest consensus estimate is calling for revenue of $5.02 billion, up 4.53% from the prior-year quarter.For the full year, our Zacks Consensus Estimates are projecting earnings of $5.73 per share and revenue of $20.29 billion, which would represent changes of -15.74% and +5.83%, respectively, from the prior year.Any recent changes to analyst estimates for Tenet Healthcare should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.33% higher. Tenet Healthcare is currently sporting a Zacks Rank of #2 (Buy).Investors should also note Tenet Healthcare's current valuation metrics, including its Forward P/E ratio of 13.37. This valuation marks a discount compared to its industry's average Forward P/E of 14.12.Story continuesWe can also see that THC currently has a PEG ratio of 2.05. 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 Medical - Hospital industry currently had an average PEG ratio of 1.67 as of yesterday's close.The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTenet Healthcare Corporation (THC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Tenet Healthcare (THC) Gains As Market Dips: What You Should Know

https://finance.yahoo.com/news/tenet-healthcare-thc-gains-market-221520945.html

2e12f654-a204-3fee-a121-84ce1b824a48

THO

THOR commits to sponsoring Girl Scouts Love State Parks weekend focused on inclusivity in the outdoors and stewardship of public lands for 3 additional yearsELKHART, Ind., Aug. 24, 2023 /PRNewswire/ -- Underscoring its continued commitment to promoting inclusivity in the outdoors, THOR Industries, Inc. (NYSE: THO) extended its partnership with Girl Scouts of the USA (GSUSA), the largest girl-led organization in the world, through 2025. (PRNewsfoto/THOR Industries)In the multi-year partnership, THOR sponsors GSUSA's largest and most popular outdoor event, Girl Scouts Love State Parks. The annual event is hosted in nearly 500 state parks across all 50 states and Puerto Rico.  The 2023 event, occurring September 9 and 10, will focus on park stewardship.Once again, Girl Scouts will incorporate THOR's sustainability program, Pick Up America, into its park stewardship efforts.  Any of the nearly 75,000 Girl Scouts and families expected to participate may pledge to remove bags of trash from public lands through a custom-designed, co-branded Pick Up America website. Since the founding of the partnership, Girl Scouts have pledged to remove more than 22 tons of trash from public lands- contributing to more than 290 tons of trash pledged to be removed from public lands since the Pick Up America program launched in 2019. "Girl Scouts Love State Parks is a great opportunity to connect people with nature and families with each other while promoting stewardship in state parks across the US," shared Bob Martin, President and CEO of THOR Industries. "We are proud to extend our partnership with Girl Scouts and support their continued success in providing girls with outdoor experiences which build confident, courageous leaders."The video, "Stronger Together" explores Girl Scouts Love State Parks weekend and highlights the organizations' shared commitment to environmental stewardship and outdoor equity.Story continuesAbout THOR IndustriesTHOR Industries is the sole owner of operating companies which, combined, represent the world's largest RV manufacturer. For more information on the Company and its products, please visit https://www.thorindustries.com/.We Are Girl Scouts of the USA Girl Scouts bring their dreams to life and work together to build a better world. Through programs from coast to coast, Girl Scouts of all backgrounds and abilities can be unapologetically themselves as they discover their strengths and rise to meet new challenges—whether they want to climb to the top of a tree or the top of their class, lace up their boots for a hike or advocate for climate justice, or make their first best friends. Backed by trusted adult volunteers, mentors, and millions of alums, Girl Scouts lead the way as they find their voices and make changes that affect the issues most important to them. To join us, volunteer, reconnect, or donate, visit girlscouts.org.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/thor-industries-extends-partnership-with-girl-scouts-of-the-usa-301909372.htmlSOURCE THOR Industries

PR Newswire

THOR Industries Extends Partnership with Girl Scouts of the USA

https://finance.yahoo.com/news/thor-industries-extends-partnership-girl-153500088.html

331757ff-667a-3bda-ad2d-53ca18f37774

THO

Viewing insider transactions for THOR Industries, Inc.'s (NYSE:THO ) over the last year, we see that insiders were net buyers. This means that a larger number of shares were purchased by insiders in relation to shares sold.While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, logic dictates you should pay some attention to whether insiders are buying or selling shares. See our latest analysis for THOR Industries THOR Industries Insider Transactions Over The Last YearThe Co-Founder & Chairman Emeritus Peter Orthwein made the biggest insider purchase in the last 12 months. That single transaction was for US$1.5m worth of shares at a price of US$72.50 each. We do like to see buying, but this purchase was made at well below the current price of US$101. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!insider-trading-volumeThere are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.Insiders At THOR Industries Have Sold Stock RecentlyOver the last three months, we've seen significant insider selling at THOR Industries. Specifically, Senior Vice President of Administration & Human Resources Kenneth Julian ditched US$1.1m worth of shares in that time, and we didn't record any purchases whatsoever. Overall this makes us a bit cautious, but it's not the be all and end all.Insider OwnershipI like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. THOR Industries insiders own about US$515m worth of shares (which is 9.5% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.Story continuesSo What Do The THOR Industries Insider Transactions Indicate?An insider sold THOR Industries shares recently, but they didn't buy any. In contrast, they appear keener if you look at the last twelve months. We are also comforted by the high levels of insider ownership. So we're happy to look past recent trading. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Every company has risks, and we've spotted 4 warning signs for THOR Industries (of which 1 doesn't sit too well with us!) you should know about.But note: THOR Industries may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

One THOR Industries Insider Raised Their Stake In The Previous Year

https://finance.yahoo.com/news/one-thor-industries-insider-raised-133439646.html

7c0668ae-87f2-3bb6-8125-a4c82cf6179f

THR

AUSTIN, TX / ACCESSWIRE / September 6, 2023 / Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon"), a global leader in industrial process heating solutions, announced today that it will host its inaugural investor day in New York City at 9:00am on Tuesday, November 14, 2023.Bruce Thames, President and CEO, and Kevin Fox, CFO, will be joined by other members of the executive management team to present an in-depth review of the Company's overall business, financial performance, long-term strategy and outlook, as well as key initiatives such as how the Company is enabling the energy transition, new product development, and operational excellence.The event will include formal presentations and multiple Q&A panel sessions with senior leadership. Information on registering for in-person attendance will be provided in the coming weeks. Due to space limitations, the number of in-person participants is limited and advanced registration is required.A live webcast and presentation materials will be accessible on http://ir.thermon.com at the time of the event. Interested parties unable to attend in-person or watch the live webcast will be able to view and listen to an archived copy of the webcast and obtain the presentation materials, which will be available following the conclusion of the event.About ThermonThrough its global network, Thermon provides safe, reliable and mission critical industrial process heating solutions. Thermon specializes in providing complete flow assurance, process heating, temperature maintenance, freeze protection and environmental monitoring solutions. Thermon is headquartered in Austin, Texas. For more information, please visit www.thermon.com.Contact:Kevin Fox, Chief Financial OfficerIvonne Salem, Vice President, FP&A and Investor Relations(512) [email protected]: Thermon Group Holdings, Inc.View source version on accesswire.com: https://www.accesswire.com/780872/thermon-to-host-investor-day-on-november-14-2023

ACCESSWIRE

Thermon to Host Investor Day on November 14, 2023

https://finance.yahoo.com/news/thermon-host-investor-day-november-115000986.html

d711da3e-6278-39b6-be1c-0b5f8de3d4d4

THR

While Thermon Group Holdings, Inc. (NYSE:THR) might not be the most widely known stock at the moment, it saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing. So, could the stock still be trading at a low price relative to its actual value? Today I will analyse the most recent data on Thermon Group Holdings’s outlook and valuation to see if the opportunity still exists. View our latest analysis for Thermon Group Holdings What's The Opportunity In Thermon Group Holdings?According to my valuation model, Thermon Group Holdings seems to be fairly priced at around 2.96% above my intrinsic value, which means if you buy Thermon Group Holdings today, you’d be paying a relatively fair price for it. And if you believe that the stock is really worth $26.11, there’s only an insignificant downside when the price falls to its real value. Although, there may be an opportunity to buy in the future. This is because Thermon Group Holdings’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company’s shares will likely fall by more than the rest of the market, providing a prime buying opportunity.Can we expect growth from Thermon Group Holdings?earnings-and-revenue-growthInvestors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. 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. In the upcoming year, Thermon Group Holdings' earnings are expected to increase by 44%, indicating a highly optimistic future ahead. This should lead to more robust 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 THR’s positive outlook, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the track record of its management team. Have these factors changed since the last time you looked at the stock? Will you have enough confidence to invest in the company should the price drop below its fair value?Are you a potential investor? If you’ve been keeping tabs on THR, 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.It can be quite valuable to consider what analysts expect for Thermon Group Holdings from their most recent forecasts. So feel free to check out our free graph representing analyst forecasts.If you are no longer interested in Thermon Group Holdings, 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 Now The Time To Look At Buying Thermon Group Holdings, Inc. (NYSE:THR)?

https://finance.yahoo.com/news/now-time-look-buying-thermon-125737141.html

540ad52c-f9fd-3ae5-8dc9-ac661f1b391f

THRN

The simplest way to invest in stocks is to buy exchange traded funds. But if you pick the right individual stocks, you could make more than that. For example, the Thorne HealthTech, Inc. (NASDAQ:THRN) share price is up 46% in the last 1 year, clearly besting the market return of around 4.2% (not including dividends). So that should have shareholders smiling. We'll need to follow Thorne HealthTech for a while to get a better sense of its share price trend, since it hasn't been listed for particularly long.Let's take a look at the underlying fundamentals over the longer term, and see if they've been consistent with shareholders returns. Check out our latest analysis for Thorne HealthTech In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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.Thorne HealthTech boasted truly magnificent EPS growth in the last year. We don't think the exact number is a good guide to the sustainable growth rate, but we do think this sort of increase is impressive. So we're unsurprised to see the share price gaining ground. Strong growth like this can be evidence of a fundamental inflection point in the business, making it a good time to investigate the stock more closely.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 Thorne HealthTech has improved its bottom line lately, but is it going to grow revenue? If you're interested, you could check this free report showing consensus revenue forecasts.A Different PerspectiveIt's nice to see that Thorne HealthTech shareholders have gained 46% over the last year. A substantial portion of that gain has come in the last three months, with the stock up 62% in that time. Demand for the stock from multiple parties is pushing the price higher; it could be that word is getting out about its virtues as a 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. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Thorne HealthTech (at least 1 which is a bit concerning) , and understanding them should be part of your investment process.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.

Simply Wall St.

Investing in Thorne HealthTech (NASDAQ:THRN) a year ago would have delivered you a 46% gain

https://finance.yahoo.com/news/investing-thorne-healthtech-nasdaq-thrn-150404603.html

2c38569a-0c6d-36c2-b667-5da284490e38

THRN

L Catterton to Commence a Tender Offer for all of Thorne's Outstanding Shares of Common StockThorne Stockholders to Receive $10.20 per Share in Cash, Representing a 94% Premium to the Unaffected PriceIndependent Special Committee and Thorne Board of Directors Unanimously Approve Transaction and Recommend that All Stockholders Tender Their Shares in the Tender Offer NEW YORK, Aug. 28, 2023 /PRNewswire/ -- Thorne HealthTech, Inc. ("Thorne" or the "Company") (NASDAQ: THRN), a leader in delivering innovative solutions for a personalized approach to health and wellness, announced today that it has entered into a definitive agreement under which L Catterton, a leading global consumer-focused investment firm, will commence a tender offer to acquire all outstanding shares of common stock of Thorne for $10.20 per share in cash. The transaction value of approximately $680 million represents a 94% premium to the unaffected closing share price on July 20, 2023, and a 113% premium to the 30-day volume weighted average price as of the unaffected date of July 20, 2023. Thorne's independent Special Committee and Board of Directors have each unanimously approved the agreement and recommend that all stockholders tender their shares in the tender offer.THT Logo (PRNewsfoto/Thorne HealthTech, Inc.)"We are very pleased to have reached an agreement with L Catterton, which offers immediate liquidity at a significant premium to our stockholders," said Sarah Kauss, a member of Thorne's Board of Directors and Chair of the Special Committee of Thorne's Board of Directors.  "The transaction is the result of a thorough process overseen and directed by an independent Special Committee of the Board of Directors and is a wonderful outcome for Thorne and its stockholders.  The transaction is possible due to the hard work and dedication of Thorne's world-class team and, on behalf of the Special Committee and the whole Board of Directors, I'd like to thank the entire management team for everything they've done to build Thorne into a leading science-driven wellness company that empowers consumers with the support, education, and solutions they need to live a healthier life."Story continues"This transaction is an excellent outcome for all of our stakeholders and marks the beginning of an exciting new chapter for Thorne," said Paul Jacobson, Chairman and Chief Executive Officer of Thorne. "For over a decade, we have worked tirelessly to deliver on our mission to bring science-based solutions to the prevention space and empower consumers to live healthier lives longer.  L Catterton has an impressive track record of fostering the growth and success of leading global consumer brands.  Together with their deep expertise in the health and wellness industry, global reach, and extensive operational capabilities, I am confident L Catterton is the right partner to fuel Thorne's long-term growth.""We have admired Thorne for many years given its uncompromising approach to science and innovation as well as its commitment to transforming consumers' lives and approach to health and wellness," said Marc Magliacano, a Managing Partner in L Catterton's Flagship Fund. "As one of the pioneers of the wellness movement, Thorne continues to lead by example and is on the precipice of breakthrough products and technologies that will allow consumers to significantly extend their healthspans through personalized wellness programs developed by Thorne's proprietary dataset and protocols."Transaction DetailsUnder the terms of the agreement, which was unanimously approved by Thorne's independent Special Committee and Board of Directors, L Catterton will commence a tender offer to acquire all of Thorne's outstanding shares of common stock for $10.20 per share in cash. The transaction is expected to be completed in the fourth quarter of 2023, subject to customary closing conditions, including satisfaction of the minimum tender condition and receipt of regulatory approvals. Subject to the terms and conditions of the agreement, following the completion of the tender offer, L Catterton will acquire any shares of Thorne that are not tendered in the tender offer through a second-step merger for $10.20 per share in cash.  Upon completion of the transaction, Thorne will become a privately held company and its shares of common stock will no longer be listed on any public market.AdvisorsCG Sawaya Partners (operating under Canaccord Genuity) served as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati served as legal advisor to Thorne and the Special Committee of the Board of Directors. BofA Securities served as financial advisor and Kirkland & Ellis LLP served as legal advisor to L Catterton.About Thorne HealthTech, Inc.Thorne HealthTech is a leader in developing innovative solutions for delivering personalized approaches to health and wellness. As a science-driven wellness company that empowers individuals with the support, education, and solutions they need to achieve healthy aging – living healthier longer – Thorne utilizes testing and data to create improved product efficacy and to deliver personalized solutions to consumers, health professionals, and corporations. Predicated on the power of the individual, Thorne leverages artificial intelligence models to provide insights and personalized data, products, and services that help individuals take a proactive and actionable approach to improve and maintain their health over a lifetime. Thorne is the only supplement manufacturer that collaborates with Mayo Clinic on health and wellness research and content and is trusted by more than five million customers, 47,000+ health-care professionals, thousands of professional athletes, more than 100 professional sports teams, and multiple U.S. National Teams. For more information, visit Thorne.com.About L CattertonL Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital and three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands. For more information about L Catterton, please visit www.lcatterton.com.Additional Information and Where to Find ItIn connection with the proposed acquisition of Thorne HealthTech, Inc. ("Thorne"), Healthspan Merger Sub, Inc. ("Purchaser") will commence a tender offer for all of the outstanding shares of Thorne. The tender offer has not yet commenced. This communication is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities of Thorne. It is also not a substitute for the tender offer materials that Purchaser will file with the Securities and Exchange Commission (the "SEC") upon commencement of the tender offer. The solicitation and offer to buy the outstanding shares of Thorne will only be made pursuant to an offer to purchase and related tender offer materials. At the time of the commencement of the tender offer, Purchaser will file tender offer materials on Schedule TO with the SEC, and Thorne will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT WILL CONTAIN IMPORTANT INFORMATION THAT SHOULD BE READ CAREFULLY AND CONSIDERED BY THORNE'S STOCKHOLDERS BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. Both the tender offer materials and the solicitation/recommendation statement will be made available to Thorne's stockholders free of charge. A free copy of the tender offer materials and the solicitation/recommendation statement will also be made available to Thorne's stockholders by visiting Thorne's website (https://investors.thornehealthtech.com/). In addition, the tender offer materials and the solicitation/recommendation statement (and all other documents filed by Thorne with the SEC) will be available free of charge on the SEC's website (http://www.sec.gov) upon filing with the SEC. THORNE'S STOCKHOLDERS ARE ADVISED TO READ THE TENDER OFFER MATERIALS AND THE SOLICITATION/RECOMMENDATION STATEMENT, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS FILED BY PURCHASER OR THORNE WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE THEY MAKE ANY DECISION WITH RESPECT TO THE TENDER OFFER. THESE MATERIALS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER, PURCHASER AND THORNE.Forward-Looking Statements This communication contains forward-looking statements. All statements other than statements of historical facts contained in this communication are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "would," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions. Forward-looking statements contained in this communication include, but are not limited to, statements regarding Thorne's pending acquisition by L Catterton or its affiliates (the "Transaction"), including the expected timing of the closing of the Transaction and considerations taken into account by Thorne's Special Committee of the Board of Directors and Thorne's Board of Directors in approving the Transaction. These forward-looking statements involve risks and uncertainties. If any of these risks or uncertainties materialize, or if any of Thorne's assumptions prove incorrect, Thorne's actual results could differ materially from the results expressed or implied by these forward-looking statements. These risks and uncertainties include the risk that the conditions to the tender offer or the closing of the Transaction are not satisfied, including the risk that a sufficient number of Thorne's stockholders do not tender their shares into the tender offer or otherwise participate in the Transaction; risks associated with potential litigation relating to the Transaction; uncertainties as to the timing of the consummation of the Transaction and the ability of each party to consummate the Transaction; risks that the Transaction disrupts the current plans and operations of Thorne; and the risks and uncertainties described in the section titled "Risk Factors" and elsewhere in Thorne's filings made with the SEC, including its Annual Report on Form 10-K filed on March 31, 2023 and its subsequent Quarterly Reports on Form 10-Q and other SEC filings, copies of which are available free of charge on the SEC website at www.sec.gov. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. All forward-looking statements in this communication are based on information available to Thorne as of the date of this communication, and Thorne does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/thorne-healthtech-inc-enters-into-definitive-agreement-to-be-acquired-by-l-catterton-for-10-20-per-share-in-cash-301911103.htmlSOURCE Thorne HealthTech, Inc.

PR Newswire

Thorne HealthTech, Inc. Enters into Definitive Agreement to be Acquired by L Catterton for $10.20 Per Share in Cash

https://finance.yahoo.com/news/thorne-healthtech-inc-enters-definitive-120000294.html

b0a272cd-9b73-3899-87fe-67820075fbf5

THRY

DALLAS, August 24, 2023--(BUSINESS WIRE)--Thryv Holdings, Inc. (NASDAQ:THRY) ("Thryv'' or the "Company"), the provider of the leading small and medium sized business ("SMB") software platform, announced today that Chief Customer Officer Grant Freeman has been promoted to the new role of Thryv President, effective September 1, 2023. Freeman will report to CEO, Joe Walsh, who will continue as Chairman and CEO."Grant has proven to be a SaaS growth leader with a distinguished track record," said Joe Walsh, Chairman and CEO. "Over the last eight years, he has played a key role in effectively helping to transition the company from solely a marketing services business to a fast-growing, market-leading SaaS company. Grant has been an instrumental part of our shift taking on roles including sales, training, operations, client experience and client success. He has been vital to creating a new culture focused on both client and employee experience. I have known Grant for 20 years and have seen him grow into a polished and effective executive. With this promotion, we are deepening the bench strength of our management team as we continue to scale and focus on profitable SaaS growth.""Thryv is pursuing a noble cause in helping small businesses around the globe," said Grant Freeman, President. "In this new role, I am committed to building profitable SaaS growth while maintaining operational excellence. We are uniquely positioned to be the leader in helping small businesses solve the many issues that they face. We have a talented leadership team, great products, incredible service, amazing employees, and even better clients. I look forward to leading the operational team into its next chapter under Joe’s continued leadership."At Thryv, Freeman has been leading the Thryv Client Success team, focused on continually improving the experience delivered across a client’s journey to create highly engaged clients. He has been overseeing acquisition, retention, and onboarding as well as monetization for the software segment at Thryv. Under Freeman’s leadership, Thryv has had double digit client growth while increasing active user engagement by more than 18% year-over-year. In addition, Freeman has led the learning teams for the organization. Prior to joining Thryv, Grant served as director of digital media for hibu/Yellowbook. While there, he led a team of senior digital specialists and was instrumental in helping the company reach its digital revenue targets. He and his team were also responsible for training across 23 states.Story continuesFreeman holds a BA degree in Marketing from Pennsylvania State University. He is married and the parent of two teenagers.About Thryv Holdings, Inc.Thryv Holdings, Inc. (NASDAQ: THRY) is a global leader in small business management software. More than 55,000 small- to medium-sized businesses (SMBs) utilize our award-winning SaaS platform, Thryv®, to grow and modernize their operations, empowering them to win in today’s economy. Thryv also manages the digital and print presence of over 400,000 SMBs, connecting them to local consumers via proprietary local online and print directories and popular social media and search engines, helping them gain new customers and grow their bottom line. For more information about Thryv Holdings, Inc, visit thryv.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230824256888/en/ContactsMedia Contact: Paige BlankenshipThryv, [email protected] Investor Contact: Cameron LessardThryv, [email protected]

Business Wire

Thryv Announces Promotion of Grant Freeman to New Role of Thryv President

https://finance.yahoo.com/news/thryv-announces-promotion-grant-freeman-123000847.html

01c325cf-3d02-3f9d-b123-707519094cf3

THRY

Thryv recognized by leading, global organizations for "Best SMB CRM Solution," "Best SaaS Product for SMBs and SMEs" and "Best Business Management Software Platform"DALLAS, August 31, 2023--(BUSINESS WIRE)--Thryv Holdings, Inc. (NASDAQ:THRY) ("Thryv'' or the "Company"), the provider of the leading small and medium sized business ("SMB") software platform, announced today it has received industry accolades for its award-winning SaaS technology. Recent recognition includes Best SMB CRM Solution, Best SaaS Product for SMBs and SMEs and Best Business Management Software Platform from the MarTech Breakthrough Awards, World Future Awards and 2023 SaaS Awards, respectively. Additionally, the company was once again ranked in the top 10 (8) in Selling Power’s 50 Best Companies to Sell for 2023."Our SaaS platform helps business owners across the globe to quickly and easily build, manage and strengthen customer relationships, and ultimately grow their footprints," said Ryan Cantor, Thryv’s Chief Product Officer. "This latest recognition is testament to our talented team, innovative SaaS technology and great customers, and it reinforces how Thryv helps small businesses succeed."Recognition highlights:Best SMB CRM Solution in the annual MarTech Breakthrough Awards program, a leading market intelligence organization that recognizes the top companies, technologies and products in the global marketing, sales and advertising technology industries. Thryv Marketing Center was recognized as one of the best, among more than 3,500 nominations from over 19 different countries.Best Business Management Software Platform at the World Future Awards, which recognized Thryv Business Center among the best products, software and services that will transform the global economy and define the landscape of the future.Best SaaS Product for Small Business and SMEs from the 2023 SaaS Awards, which celebrate the world’s best and brightest in software and Software-as-a-Service.Story continuesTop 8 global ranking on Selling Power’s 50 Best Companies to Sell for 2023 list. Thryv, which is ranked 8, has appeared on the list the past six years, improving its ranking each year.About Thryv Holdings, Inc.Thryv Holdings, Inc. (NASDAQ: THRY) is a global leader in small business management software. More than 55,000 small- to medium-sized businesses (SMBs) utilize our award-winning SaaS platform, Thryv®, to grow and modernize their operations, empowering them to win in today’s economy. Thryv also manages the digital and print presence of over 400,000 SMBs, connecting them to local consumers via proprietary local online and print directories and popular social media and search engines, helping them gain new customers and grow their bottom line. For more information about Thryv Holdings, Inc, visit thryv.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230831304461/en/ContactsMedia Contact: Paige BlankenshipThryv, [email protected] Investor Contact: Cameron LessardThryv, [email protected]

Business Wire

Thryv Receives Industry Accolades for Its Innovative SaaS Small Business Platform

https://finance.yahoo.com/news/thryv-receives-industry-accolades-innovative-123000629.html

8c6d78bb-9b8e-3a39-b7a7-2749c48d5ea2

TIL

Instil BioITIL-306, first CoStAR-TIL in clinical development, anticipated to start clinical trial ITIL-306-202 in 2H 2023Initial data from ITIL-306-202 clinical trial anticipated in 2024ITIL-306 operational in Manchester, UK manufacturing facility with additional process improvementsDALLAS, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Instil Bio, Inc. (“Instil”) (NASDAQ: TIL), a clinical-stage biopharmaceutical company focused on developing tumor infiltrating lymphocyte, or TIL, therapies for the treatment of patients with cancer, today reported its second quarter 2023 financial results and provided a corporate update.“Successful manufacturing of ITIL-306 in our Manchester, UK facility is a major milestone on our path to clinical development of ITIL-306,” said Mark Dudley, Chief Scientific Officer of Instil Bio. “We have implemented improvements to the manufacturing process of ITIL-306 that were shown to result in a doubling of the number of CoStAR-TILs in the final product, which we believe could be meaningful for the therapeutic profile of ITIL-306 in patients with advanced cancer.”Second Quarter 2023 Highlights and Anticipated Milestones:ITIL-306, first CoStAR-TIL in clinical development, anticipated to start clinical trial ITIL-306-202 in 2H 2023: Instil anticipates initiating phase 1 clinical trial ITIL-306-202 with an updated trial design versus ITIL-306-201; the ITIL-306-202 trial design has received positive initial feedback from the Medicines and Healthcare products Regulatory Agency, or MHRA in the United Kingdom. Instil expects Clinical Trial Application, or CTA, clearance from the MHRA in the second half of 2023 and initial clinical data from the ITIL-306-202 clinical trial in 2024.ITIL-306 operational in Manchester, UK manufacturing facility: Instil has successfully established ITIL-306, including multiple successful verification runs, in its Manchester, UK manufacturing facility. Instil has designed and implemented manufacturing process improvements that resulted in a doubling of the final yield of CoStAR-TILs from verification runs.Cash runway beyond 2026: Instil Bio confirms its previous guidance of cash runway beyond 2026.Story continuesSecond Quarter 2023 Financial and Operating Results:As of June 30, 2023, Instil had cash, cash equivalents, restricted cash and marketable securities of $202.9 million, which consists of $21.8 million in cash and cash equivalents, $1.2 million in restricted cash and $179.9 million in marketable securities, compared to $260.9 million in total cash and cash equivalents and marketable securities, consisting of $43.7 million in cash and cash equivalents and $217.2 million in marketable securities as of December 31, 2022. Instil expects that its cash, cash equivalents and marketable securities as of June 30, 2023 will enable it to fund its operating plan beyond 2026.Research and development expenses were $8.5 million and $29.1 million for the three and six months ended June 30, 2023, respectively, compared to $41.5 million and $80.7 million for the three and six months ended June 30, 2022, respectively.General and administrative expenses were $11.5 million and $24.7 million for the three and six months ended June 30, 2023, respectively, compared to $17.2 million and $32.3 million for the three and six months ended June 30, 2022, respectively.Restructuring and impairment charges were $1.0 million and $25.6 million for the three and six months ended June 30, 2023, respectively.INSTIL BIO, INC.SELECTED FINANCIAL DATA (Unaudited; in thousands, except share and per share amounts)Selected Balance Sheet Data  June 30, 2023 December 31, 2022Cash, cash equivalents, restricted cash and marketable securities$202,860  $260,920 Total assets$408,310  $482,128 Total liabilities$111,794  $118,523 Stockholders’ equity$296,516  $363,605  Statements of Operations(Unaudited; in thousands, except share and per share amounts)  Three Months Ended June 30, Six Months Ended June 30,  2023   2022   2023   2022 Operating expenses:       Research and development$8,459  $41,500  $29,129  $80,674 General and administrative 11,518   17,224   24,740   32,336 Restructuring and impairment charges 1,010   —   25,564   — Total operating expenses 20,987   58,724   79,433   113,010 Loss from operations (20,987)  (58,724)  (79,433)  (113,010)Interest income 2,287   486   4,358   583 Interest expense (590)  (331)  (1,226)  (331)Other income (expense), net 628   (1,032)  571   (1,448)Loss before income tax benefit (18,662)  (59,601)  (75,730)  (114,206)Income tax benefit —   609   —   1,097 Net loss$(18,662) $(58,992) $(75,730) $(113,109)Net loss per share, basic and diluted$(0.14) $(0.46) $(0.58) $(0.88)Weighted-average shares used in computing net loss per share, basic and diluted 130,079,097   129,367,833   130,079,097   129,244,334                 Note Regarding Use of Non-GAAP Financial MeasuresIn this press release, Instil Bio has presented certain financial information that has not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures include non-GAAP net loss and non-GAAP net loss per share, which are defined as net loss and net loss per share, respectively, excluding non-cash stock-based compensation expense. Instil Bio believes that these non-GAAP financial measures, when considered together with the GAAP figures, can enhance an overall understanding of Instil Bio’s financial performance. The non-GAAP financial measures are included with the intent of providing investors with a more complete understanding of Instil Bio’s operating results. In addition, these non-GAAP financial measures are among the indicators Instil Bio’s management uses for planning purposes and to measure Instil Bio’s performance. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The non-GAAP financial measures used by Instil Bio may be calculated differently from, and therefore may not be comparable to, non-GAAP financial measures used by other companies. Please refer to the below reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures. INSTIL BIO, INC.Reconciliation of GAAP to Non-GAAP Net Loss (Unaudited; in thousands, except share and per share amounts)  Three Months Ended June 30, Six Months Ended June 30,  2023   2022   2023   2022 Net loss$(18,662) $(58,992) $(75,730) $(113,109)Adjustments:       Non-cash stock-based compensation expense 4,413   8,323   8,943   15,816 Non-GAAP net loss$(14,249) $(50,669) $(66,787) $(97,293)Net loss per share, basic and diluted$(0.14) $(0.46) $(0.58) $(0.88)Adjustments:       Non-cash stock-based compensation expense per share 0.03   0.06   0.07   0.12 Non-GAAP net loss per share, basic and diluted*$(0.11) $(0.40) $(0.51) $(0.76)Weighted-average shares outstanding, basic and diluted 130,079,097   129,367,833   130,079,097   129,244,334 * Non-GAAP net loss per share, basic and diluted may not total due to rounding.About Instil BioInstil Bio, Inc. (Nasdaq: TIL) is a clinical-stage biopharmaceutical company focused on developing TIL therapies for the treatment of patients with cancer. Instil has assembled an accomplished management team with a successful track record in the research, development and manufacture of cell therapies. Using its proprietary and optimized manufacturing processes at its in-house manufacturing facilities, Instil is developing a novel class of genetically engineered TIL therapies using its Co-Stimulatory Antigen Receptor, or CoStAR™, platform, including ITIL-306, a next-generation, genetically-engineered TIL therapy using the CoStAR platform, for multiple solid tumors. For more information visit www.instilbio.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “expects,” “future,” “intends,” “plans,” “potential,” “projects,” and “will” or similar expressions are intended to identify forward-looking statements. Forward-looking statements include statements concerning or implying the therapeutic potential of our product candidates, our research, development and regulatory plans for our product candidates, including our expectations of CTA clearance from the MHRA, the timing of our ongoing and potential future clinical trials and studies and the availability and presentation of data therefrom, including our expectations concerning the initiation of, and timing of updates on, our ITIL-306 clinical trial in the United Kingdom, the potential for us to make submissions concerning, and for our product candidates to receive, regulatory approval from the FDA, MHRA or equivalent foreign regulatory agencies and whether, if approved, these product candidates will be successfully distributed and marketed, and other statements that are not historical fact. Forward-looking statements are based on management's current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements, including risks and uncertainties associated with the costly and time-consuming cell therapy product development process and the uncertainty of clinical success, including risks related to failure or delays in successfully initiating, enrolling, reporting data from or completing clinical studies, as well as the risks that results obtained in clinical trials to date may not be indicative of results obtained in ongoing or future trials and that Instil’s product candidates may otherwise not be effective treatments in their planned indications; macroeconomic conditions, including as a result of the conflict between Russia and Ukraine, interest rates, inflation, bank failures and other factors, which could materially and adversely affect Instil’s business and operations, including Instil's ability to timely initiate, enroll and complete its ongoing and future clinical trials; the time-consuming and uncertain regulatory approval process; risks inherent in manufacturing and testing of cell therapy products and the risk that Instil’s manufacturing process improvements do not ultimately result in enhancements to its product candidates; the sufficiency of Instil’s cash resources, and other risks and uncertainties affecting Instil and its development programs, including those discussed in the section titled “Risk Factors” Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 available on the SEC’s website at www.sec.gov, and in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 to be filed with the SEC. Additional information will be made available in other filings that we make from time to time with the SEC. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements speak only as the date hereof, and we disclaim any obligation to update these statements except as may be required by law.Contacts:Investor Relations1-972-499-3350investorrelations@instilbio.comwww.instilbio.com

GlobeNewswire

Instil Bio Reports Second Quarter 2023 Financial Results and Provides Corporate Update

https://finance.yahoo.com/news/instil-bio-reports-second-quarter-110000943.html

0540d4e5-71db-3281-b523-b0257750b355

TIL

Instil Bio, Inc. (TIL) has been beaten down lately with too much selling pressure. While the stock has lost 18.5% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why TIL Could Bounce Back Before LongThe heavy selling of TIL shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 29.89. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering TIL in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 15.7% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Story continuesMoreover, TIL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (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 reportInstil Bio, Inc. (TIL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

After Plunging -18.52% in 4 Weeks, Here's Why the Trend Might Reverse for Instil Bio, Inc. (TIL)

https://finance.yahoo.com/news/plunging-18-52-4-weeks-133506868.html

de94d417-b6b2-3580-89ec-6b1294313c1a

TILE

Interface, Inc. (NASDAQ:TILE), might not be a large cap stock, but it saw a significant share price rise of over 20% in the past couple of months on the NASDAQGS. Less-covered, small caps tend to present more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing. So, could the stock still be trading at a low price relative to its actual value? Let’s take a look at Interface’s outlook and value based on the most recent financial data to see if the opportunity still exists. Check out our latest analysis for Interface What's The Opportunity In Interface?Good news, investors! Interface is still a bargain right now. My valuation model shows that the intrinsic value for the stock is $12.72, but it is currently trading at US$9.97 on the share market, meaning that there is still an opportunity to buy now. However, given that Interface’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 another chance to buy in the future. This is based on its high beta, which is a good indicator for share price volatility.Can we expect growth from Interface?earnings-and-revenue-growthInvestors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. 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. Interface's earnings over the next few years are expected to double, indicating a very optimistic future ahead. This should lead to stronger cash flows, feeding into a higher share value.What This Means For YouAre you a shareholder? Since TILE is currently undervalued, it may be a great time to accumulate more of your holdings in the stock. With an optimistic outlook on the horizon, it seems like this growth has not yet been fully factored into the share price. However, there are also other factors such as capital structure to consider, which could explain the current undervaluation.Story continuesAre you a potential investor? If you’ve been keeping an eye on TILE for a while, now might be the time to enter the stock. Its prosperous future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy TILE. But before you make any investment decisions, consider other factors such as the strength of its balance sheet, in order to make a well-informed investment decision.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. To that end, you should learn about the 4 warning signs we've spotted with Interface (including 1 which is concerning).If you are no longer interested in Interface, 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$9.97, Is It Time To Put Interface, Inc. (NASDAQ:TILE) On Your Watch List?

https://finance.yahoo.com/news/us-9-97-time-put-193335843.html

8cd5be04-38c7-317a-838d-a7d88e28857b

TILE

ATLANTA, August 31, 2023--(BUSINESS WIRE)--Interface, Inc. (NASDAQ: TILE), the global flooring solutions company and leader in sustainability, today released its 2022 Impact Report, outlining the company’s annual environmental, social, and governance (ESG) commitments, progress, and achievements. The report illustrates the company’s continued efforts to operate in an ethical and more sustainable manner that benefits all stakeholders – employees, customers, shareholders, and the environment."Guided by our 50-year history of challenging the status quo, we’ve demonstrated that doing what’s right for people and the planet can deliver positive benefits to all stakeholders," said Laurel Hurd, CEO of Interface. "The 2022 Impact Report highlights our progress to reduce our environmental impacts, cultivate social responsibility, and maintain robust governance practices. We also take this opportunity to celebrate our 50th anniversary and look ahead to the next 50 years as we continue to build on our legacy as leaders in design, sustainability, and innovation."The Interface 2022 Impact Report highlights notable achievements, including:Transitioned 100% of its carpet tile production in EMEA to its differentiated cradle-to-gate carbon negative CQuest™ backing.Adopted the Commitment to Human Rights, a global statement that outlines how the company supports human rights for all people.Introduced new benefits to U.S.-based employees based on employee feedback, upholding the company’s commitment to providing high-quality care for its people and supporting physical and mental well-being.The 2022 Impact Report also provides transparency into the company’s environmental footprint including, global greenhouse gas (GHG) emissions, carbon footprint by product type, use of recycled and biobased materials, and use of renewable energy, along with enhanced employee metrics and demographics. The report follows traditional disclosure practices and aligns with the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) framework.Story continues"By setting aggressive targets across environmental, social, and economic aspects of our global business, we can positively impact the world and support a sustainable future for generations to come," continued Hurd. "The progress documented in our 2022 Impact Report is made possible by our talented and passionate team that makes up our purpose-driven community. As we look back on the last five decades, we are excited for what is to come. Our best days are ahead."The Interface 2022 Impact Report, and other ESG-related materials and documents, can be found at: https://investors.interface.com/corporate-responsibility-esg/default.aspxAbout InterfaceInterface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. We help our customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. Our mission, Climate Take Back™, invites you to join us as we commit to operating in a way that is restorative to the planet and creates a climate fit for life.Learn more about Interface at interface.com and blog.interface.com, our nora brand at nora.com, our FLOR® brand at FLOR.com, and our Carbon Neutral Floors™ program at interface.com/carbonneutral. Learn more about our carbon negative products at interface.com/carbonnegative.Follow us on Twitter, YouTube, Facebook, Pinterest, LinkedIn, Instagram, and Vimeo.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. Forward-looking statements may be identified by words such as "may," "expect," "forecast," "anticipate," "intend," "plan," "believe," "could," "should," "goal," "aim," "objective," "seek," "project," "estimate," "target," "will" and similar expressions. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including but not limited to the risks under the following subheadings in "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended January 1, 2023: "We compete with a large number of manufacturers in the highly competitive floorcovering products market, and some of these competitors have greater financial resources than we do. We may face challenges competing on price, making investments in our business, or competing on product design or sustainability", "Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicates a material impairment of those assets", "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives, our principal design consultant and other key personnel (including experienced sales and manufacturing personnel), and our loss of any of them could affect us adversely", "Large increases in the cost of our raw materials, shipping costs, duties or tariffs could adversely affect us if we are unable to pass these cost increases through to our customers", "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber or our primary third-party supplier for luxury vinyl tile ("LVT") or other key raw materials could have a material adverse effect on us", "The market price of our common stock has been volatile and the value of your investment may decline", "Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase our manufacturing costs, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations", "Our business operations could suffer significant losses from natural disasters, acts of war, terrorism, catastrophes, fire, adverse weather conditions, pandemics, endemics, unstable geopolitical situations or other unexpected events", "Disruptions to or failures of our information technology systems could adversely affect our business", "The impact of potential changes to environmental laws and regulations and industry standards regarding climate change could lead to unforeseen disruptions to our business operations", "The COVID-19 pandemic has had and could continue to have (and other public health emergencies could have in the future) a material adverse effect on our ability to operate, our ability to keep employees safe from the pandemic, our results of operations, financial condition, liquidity, capital investments, our near term and long term ability to stay in compliance with debt covenants under our Syndicated Credit Facility and Senior Notes, our ability to refinance our existing indebtedness, and our ability to obtain financing in capital markets", "Sales of our principal products have been and may continue to be affected by the COVID-19 pandemic, adverse economic cycles, and effects in the new construction market and renovation market", "Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including foreign currency fluctuations, restrictive taxation, custom duties, border closings or other adverse government regulations", "The conflict between Russia and Ukraine could adversely affect our business, results of operations and financial position", "Fluctuations in foreign currency exchange rates have had, and could continue to have, an adverse impact on our financial condition and results of operations", "The uncertainty surrounding the ongoing implementation and effect of the U.K.’s exit from the European Union, and related negative developments in the European Union could adversely affect our business, results of operations or financial condition", "We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt", "Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness", "We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness", "We face risks associated with litigation and claims". You should consider any additional or updated information we include under the heading "Risk Factors" in our subsequent quarterly and annual reports.Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.View source version on businesswire.com: https://www.businesswire.com/news/home/20230831333900/en/ContactsChristine NeedlesGlobal Corporate [email protected] +1 404-491-4660

Business Wire

Interface Publishes 2022 Impact Report on Environmental, Social, and Governance Initiatives

https://finance.yahoo.com/news/interface-publishes-2022-impact-report-130000291.html

9e56937e-b289-37d3-9059-11ff14114a39

TIPT

JACKSONVILLE, Fla., Aug. 15, 2023 /PRNewswire/ -- The Fortegra Group, Inc. ("Fortegra" or the "Company"), a global specialty insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT), today announced the appointment of Edward Peña as chief financial officer effective August 28, 2023. At that time, Mike Grasher, Fortegra's current CFO, will transition to executive vice president, international business development. The appointment of Mr. Peña adds to an already deep bench of experienced and highly qualified senior executives at Fortegra. He is a trusted leader with more than two decades of insurance, finance and mergers and acquisitions expertise. He comes to Fortegra from Liberty Mutual, where he ascended to the CFO position in the company's Global Retail Markets division. Mr. Peña's experience also includes various positions at Coaction Specialty Insurance and J.P. Morgan."It is an honor to be appointed CFO at such a critical point in Fortegra's growth trajectory," said Mr. Peña. "Under the leadership of Rick Kahlbaugh, Fortegra has grown into a leading global specialty insurer in the most thoughtful and strategic of ways. I am looking forward to working with our team to continue that momentum."Rick Kahlbaugh, who is the chief executive officer of Fortegra, said: "We are thrilled to have Ed join the Fortegra team. The breadth and range of his talents and experience will serve to support the current and future trajectory of the Company. Ed is immensely talented, and I am eager to start working with him."As CFO since rejoining Fortegra in October 2015, Mr. Grasher has been instrumental in the Company's consistent growth and profitability. During his tenure, the Company reached the $1 billion, $2 billion and now $3 billion gross written premium thresholds. As EVP, International Business Development, Mr. Grasher will build out Fortegra's specialty insurance companies in the UK and the European Union. Upon assuming his new position, Mr. Grasher will continue reporting to Fortegra's CEO.Story continues"Mike knows our business, knows our strategy and is uniquely suited to spearhead this strategic initiative," added Mr. Kahlbaugh. "I am confident that he and the team in London will build Fortegra's specialty insurance presence in strategic markets abroad, further accelerating our growth."About FortegraFor more than 45 years, Fortegra and its subsidiaries have underwritten risk management solutions that help people and businesses succeed in the face of uncertainty. As a global specialty insurer, we offer a diverse set of admitted and surplus insurance products and warranty solutions. Fortegra's A.M. Best Financial Strength Rating of A- (Excellent) is a result of our strict underwriting standards, consistent profitability, and high cash flows. For more information, please visit: https://www.fortegra.com.Contact:[email protected] original content:https://www.prnewswire.com/news-releases/new-hire-strengthens-fortegras-executive-leadership-team-301901440.htmlSOURCE Fortegra

PR Newswire

New Hire Strengthens Fortegra's Executive Leadership Team

https://finance.yahoo.com/news/hire-strengthens-fortegras-executive-leadership-200500267.html

b6fbc069-bb86-3408-9362-6494a8200b09

TIPT

JACKSONVILLE, Fla., Aug. 24, 2023 /PRNewswire/ -- The Fortegra Group, Inc. ("Fortegra" or the "Company"), a global specialty insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT), today announced that Rick Kahlbaugh, President & CEO, and Abbie Taylor, COO, will participate in a fireside chat at the 2023 Keefe, Bruyette & Woods Insurance Conference on Wednesday, September 6, 2023, in New York City.Kahlbaugh and Taylor are scheduled to speak at 2:50 p.m. EDT. Their talk comes amidst Fortegra's ongoing expansion, which includes increasing its presence in the United Kingdom, adding to an already deep executive bench, and delivering record revenues in 2023 Q2. During the discussion, Kahlbaugh and Taylor will discuss Fortegra's accomplishments over the past year, its unique business model, and the Company's growth strategy for the future.Interested parties may access a replay of the webcast from the investor relations section of Tiptree's website. About FortegraFor more than 45 years, Fortegra, via its subsidiaries, has underwritten risk management solutions that help people and businesses succeed in the face of uncertainty. As a global specialty insurer, we offer a diverse set of admitted and surplus lines insurance products and warranty solutions. Fortegra's A.M. Best Financial Strength Rating of A- (Excellent) is a result of our strict underwriting standards, consistent profitability, and high cash flows. For more information, please visit: https://www.fortegra.com.Contact:[email protected] original content:https://www.prnewswire.com/news-releases/fortegra-ceo-rick-kahlbaugh-and-coo-abbie-taylor-to-speak-at-the-2023-keefe-bruyette--woods-insurance-conference-301909566.htmlSOURCE Fortegra

PR Newswire

Fortegra CEO Rick Kahlbaugh and COO Abbie Taylor to speak at the 2023 Keefe, Bruyette & Woods Insurance Conference

https://finance.yahoo.com/news/fortegra-ceo-rick-kahlbaugh-coo-193000643.html

09e6e68e-7a1c-3b17-8c5c-444ead4b8df4

TITN

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.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.One stock to keep an eye on is Rush Enterprises (RUSHA). RUSHA is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.Another valuation metric that we should highlight is RUSHA's P/B ratio of 1.73. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.48. Over the past 12 months, RUSHA's P/B has been as high as 1.89 and as low as 1.43, with a median of 1.63.Finally, investors should note that RUSHA has a P/CF ratio of 5.77. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. RUSHA's P/CF compares to its industry's average P/CF of 7.75. Within the past 12 months, RUSHA's P/CF has been as high as 6.21 and as low as 4.53, with a median of 5.18.Another great Automotive - Retail and Whole Sales stock you could consider is Titan Machinery (TITN), which is a # 1 (Strong Buy) stock with a Value Score of A.Story continuesAdditionally, Titan Machinery has a P/B ratio of 1.16 while its industry's price-to-book ratio sits at 2.48. For TITN, this valuation metric has been as high as 2.01, as low as 1.01, with a median of 1.39 over the past year.These are only a few of the key metrics included in Rush Enterprises and Titan Machinery strong Value grade, but they help show that the stocks are likely undervalued right now. When factoring in the strength of its earnings outlook, RUSHA and TITN look like an impressive value stock at the moment.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 reportRush Enterprises, Inc. (RUSHA) : Free Stock Analysis ReportTitan Machinery Inc. (TITN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Should Value Investors Buy Rush Enterprises (RUSHA) Stock?

https://finance.yahoo.com/news/value-investors-buy-rush-enterprises-134010672.html

cfe96372-f72a-32c8-9f5e-761644ffb5ba

TITN

Titan Machinery (TITN) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.Therefore, the Zacks rating upgrade for Titan Machinery basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.For Titan Machinery, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.Story continuesHarnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for Titan MachineryFor the fiscal year ending January 2024, this agriculture and construction equipment seller is expected to earn $4.98 per share, which is a change of 10.2% from the year-ago reported number.Analysts have been steadily raising their estimates for Titan Machinery. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.9%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of Titan Machinery to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTitan Machinery Inc. (TITN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

What Makes Titan Machinery (TITN) a New Strong Buy Stock

https://finance.yahoo.com/news/makes-titan-machinery-titn-strong-160005208.html

82e40225-7d02-31b2-b134-f2e064fceaf7

TJX

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.Is This 1 Momentum Stock a Screaming Buy Right Now?Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.TJX (TJX)Based in Framingham, MA, The TJX Companies, Inc. is a leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The company’s broad range of assortments at varying prices helps it to reach out to a broad range of consumers. In addition to these, The TJX Companies tries to attract consumers through rapid turn of inventories. As of Apr 30, 2023, the company operated a total of 4,865 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and five e-commerce sites.TJX boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of TJX has seen some interesting price action recently; the stock is down 1.5% over the past one week and up 5.3% over the past four weeks. And in the last one-year period, TJX has gained 37.9%. As for the stock's trading volume, 5,680,733.50 shares on average were traded over the last 20 days.Momentum investors also pay close attention to a company's earnings. For TJX, 10 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.14 to $3.71 per share for 2024. TJX boasts an average earnings surprise of 6.6%.Story continuesInvestors should take the time to consider TJX for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThe TJX Companies, Inc. (TJX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why TJX (TJX) is a Top Momentum Stock for the Long-Term

https://finance.yahoo.com/news/why-tjx-tjx-top-momentum-135007608.html

cea54e2c-d720-3164-9bd5-5f11794d872c

TJX

Key InsightsTJX Companies' estimated fair value is US$99.32 based on 2 Stage Free Cash Flow to EquityTJX Companies' US$91.45 share price indicates it is trading at similar levels as its fair value estimateOur fair value estimate is similar to TJX Companies' analyst price target of US$98.39Today we will run through one way of estimating the intrinsic value of The TJX Companies, Inc. (NYSE:TJX) by taking the expected future cash flows and discounting them to their present value. This will be done using the Discounted Cash Flow (DCF) model. There's really not all that much to it, even though it might appear quite complex.Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model. Check out our latest analysis for TJX Companies Is TJX Companies Fairly Valued?We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value:10-year free cash flow (FCF) estimate2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$3.52bUS$3.76bUS$4.57bUS$4.59bUS$5.68bUS$6.21bUS$6.66bUS$7.04bUS$7.37bUS$7.65bGrowth Rate Estimate SourceAnalyst x7Analyst x7Analyst x6Analyst x3Analyst x3Est @ 9.38%Est @ 7.21%Est @ 5.69%Est @ 4.63%Est @ 3.88% Present Value ($, Millions) Discounted @ 7.3% US$3.3kUS$3.3kUS$3.7kUS$3.5kUS$4.0kUS$4.1kUS$4.1kUS$4.0kUS$3.9kUS$3.8k("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$38bStory continuesThe second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.3%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$7.7b× (1 + 2.2%) ÷ (7.3%– 2.2%) = US$153bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$153b÷ ( 1 + 7.3%)10= US$76bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$114b. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of US$91.5, the company appears about fair value at a 7.9% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.dcfThe 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 TJX Companies as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.3%, which is based on a levered beta of 1.021. 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 TJX CompaniesStrengthEarnings growth over the past year exceeded the industry.Debt is not viewed as a risk.Dividends are covered by earnings and cash flows.WeaknessDividend is low compared to the top 25% of dividend payers in the Specialty Retail market.OpportunityAnnual earnings are forecast to grow for the next 3 years.Current share price is below our estimate of fair value.ThreatAnnual earnings are forecast to grow slower than the American market.Moving On:Valuation is only one side of the coin in terms of building your investment thesis, and it is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For TJX Companies, we've put together three additional aspects you should explore:Risks: We feel that you should assess the 1 warning sign for TJX Companies we've flagged before making an investment in the company.Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for TJX's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors.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.

A Look At The Intrinsic Value Of The TJX Companies, Inc. (NYSE:TJX)

https://finance.yahoo.com/news/look-intrinsic-value-tjx-companies-120030899.html

450ddac1-f142-30af-be2d-f510625bc7c2

TK

Teekay CorporationHAMILTON, Bermuda, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay or the Company) (NYSE:TK) today reported results for the three months ended June 30, 2023.The full earnings release is available on the Company’s website here.About TeekayTeekay is a leading provider of international crude oil marine transportation and other marine services. Teekay provides these services directly and through its controlling ownership interest in Teekay Tankers Ltd. (NYSE: TNK), one of the world’s largest owners and operators of mid-sized crude tankers. The consolidated Teekay entities manage and operate total assets under management of over $2 billion, comprised of approximately 65 conventional tankers and other marine assets, including vessels operated for the Australian government. With offices in 8 countries and approximately 2,300 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world’s leading energy companies.Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol “TK”.For Investor Relations enquiries contact:E-mail: [email protected]: www.teekay.com

GlobeNewswire

Teekay Corporation Reports Second Quarter 2023 Results

https://finance.yahoo.com/news/teekay-corporation-reports-second-quarter-050000423.html

11bd45f6-9a34-37b3-90d2-633a8839289a

TK

Key InsightsSignificantly high institutional ownership implies Teekay's stock price is sensitive to their trading actionsThe top 5 shareholders own 52% of the companyOwnership research, combined with past performance data can help provide a good understanding of opportunities in a stockIf you want to know who really controls Teekay Corporation (NYSE:TK), 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 84% ownership. Put another way, the group faces the maximum upside potential (or downside risk).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. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future.In the chart below, we zoom in on the different ownership groups of Teekay. View our latest analysis for Teekay ownership-breakdownWhat Does The Institutional Ownership Tell Us About Teekay?Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.As you can see, institutional investors have a fair amount of stake in Teekay. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Teekay, (below). Of course, keep in mind that there are other factors to consider, too.earnings-and-revenue-growthInvestors should note that institutions actually own more than half the company, so they can collectively wield significant power. Teekay is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is Kattegat Limited with 35% of shares outstanding. In comparison, the second and third largest shareholders hold about 5.4% and 4.4% of the stock.Story continuesOn looking further, we found that 52% of the shares are owned by the top 5 shareholders. In other words, these shareholders have a meaningful say in the decisions of the company.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. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known.Insider Ownership Of TeekayThe definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.Our data cannot confirm that board members are holding shares personally. Given we are not picking up on insider ownership, we may have missing data. Therefore, it would be interesting to assess the CEO compensation and tenure, here.General Public OwnershipThe general public-- including retail investors -- own 16% 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: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.Many find it useful to take an in depth look at how a company has performed in the past. You can access this detailed graph of past earnings, revenue and cash flow.If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, backed by strong financial data.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

With 84% ownership, Teekay Corporation (NYSE:TK) boasts of strong institutional backing

https://finance.yahoo.com/news/84-ownership-teekay-corporation-nyse-124804469.html

b0479f20-82e0-302a-a8ac-8f4dafa30ee7

TMBR

Timber PharmaceuticalsWARREN, NJ, July 03, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Timber Pharmaceuticals, Inc. ("Timber" or the “Company”) (NYSE American: TMBR), a clinical-stage biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, today announced that on June 28, 2023 it received a letter (the “Notice”) from the NYSE American LLC (“NYSE American” or the “Exchange”) advising the Company is not in compliance with the NYSE American continued listing standards set forth in Sections 1003(a)(i) and (ii) of the NYSE American Company Guide given the reported stockholders’ deficit as of March 31, 2023, and losses from continuing operations and/or net losses in its four most recent fiscal years then ended.The Notice has no immediate impact on the listing of the Company’s shares of common stock, par value $0.001 per share (the “Common Stock”), which will continue to be listed and traded on the NYSE American during the period mentioned below, subject to the Company’s compliance with the other listing requirements of the NYSE American. The Common Stock will continue to trade under the symbol “TMBR”, but will have an added designation of “.BC” to indicate the status of the Common Stock as “below compliance”. The Notice does not affect the Company's ongoing business operations or its reporting requirements with the Securities and Exchange Commission (“SEC”).The Company is required to submit a plan of compliance by July 28, 2023 addressing how the Company intends to regain compliance with Section 1003(a)(i) and (ii) of the NYSE American Company Guide by December 28, 2024.Section 1003(a)(i) of the NYSE American Company Guide requires a listed company’s stockholders’ equity be at least $2.0 million if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years. Section 1003(a)(ii) of the NYSE American Company Guide requires a listed company’s stockholders’ equity be at least $4.0 million if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years.Story continuesAdditional details regarding the Notice from the Exchange were included in, and the description above is qualified in its entirety by, Timber's Current Report on Form 8-K filed with the SEC on July 3, 2023, which is available under "Investors" - "SEC filings" at www.timberpharma.com.About Timber Pharmaceuticals, Inc.Timber Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases. The Company's investigational therapies have proven mechanisms-of-action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing, and control) and safety profiles. The Company is initially focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI) and sclerotic skin diseases. For more information, visit www.timberpharma.com.Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's ability to regain compliance with the Exchange’s continued listing standards, the Company’s product development, clinical and regulatory timelines, market opportunity, competitive position, intellectual property rights, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, as well as other documents filed by the Company from time to time thereafter with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.For more information, contact:Timber Pharmaceuticals, Inc. John Koconis Chairman and Chief Executive Officer [email protected] Relations: Stephanie Prince PCG Advisory (646) 863-6341 [email protected] Relations: Adam Daley Berry & Company Public Relations (212) 253-8881 [email protected]

GlobeNewswire

Timber Pharmaceuticals Discloses Communication From NYSE American

https://finance.yahoo.com/news/timber-pharmaceuticals-discloses-communication-nyse-200500115.html

e5f7b66d-bee9-3f7f-8899-9ce8f9f61f93

TMBR

Timber PharmaceuticalsTransaction Provides Timber Stockholders with Upfront Cash Consideration and Downstream Value through Contingent Value RightsTotal Transaction Value of up to $36 millionTransaction Expected to Close in the 4th Quarter of 2023, subject to closing conditions and stockholder approvalWARREN, NJ, Aug. 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Timber Pharmaceuticals, Inc. (“Timber” or the “Company”) (NYSE American: TMBR) today announced that it has entered into a definitive agreement to be acquired by LEO US Holding, Inc. (“LEO Pharma”), a wholly-owned subsidiary of LEO Pharma A/S, in a total transaction value of up to $36 million with (i) an initial upfront consideration of $14 million and (ii) up to an additional $22.0 million in contingent value rights (CVRs) payable upon achievement of certain milestones described below. All of the issued and outstanding shares of capital stock and other equity interests of Timber will be converted into the right to receive the initial upfront consideration, less the payments for certain outstanding warrants that contain a Black Scholes cash payout value. For example, based on a current estimate of the Black Scholes value of such warrants of approximately $5.1 million, subject to change based on the assumptions detailed below, Timber expects the initial amount per share to be paid to Timber stockholders to be approximately $2.62 based on approximately 3.4 million shares of Timber common stock and restricted stock issued and outstanding as of August 20, 2023.The current estimated value to stockholders is based on an implied value assigned to certain outstanding warrants based on Black Scholes option pricing model as of August 18, 2023. This value will not be finalized until the closing of the merger and is subject to increase or decrease based on certain variables, including the actual trading price of Timber at the time of the merger and the trading volatility of Timber common stock prior to the merger.Story continuesThe CVRs that Timber stockholders will receive provide for the payment of up to an additional $22 million with respect to specific milestones for TMB-001, of which up to $12 million is related to FDA approval of TMB-001 by October 1, 2025 for the treatment of congenital ichthyosis, and up to $10 million of which is related to the first achievement of TMB-001 net sales exceeding $100 million within four consecutive calendar quarters by December 31, 2028. As part of the transaction, LEO Pharma has agreed to provide Timber with a bridge loan of up to $3.0 million, subject to certain conditions. The payments of the CVRs are subject to certain deductions relating to the repayment of 50% of the bridge loan provided by LEO Pharma to Timber in connection with the merger.John Koconis, Chairman and Chief Executive Officer of Timber, said, “We are very pleased to deliver a transaction that will maximize long term value for Timber’s shareholders. LEO Pharma is a leader in global dermatology with a mission that matches our own - a relentless pursuit to help patients suffering from skin diseases.“LEO’s expertise and global footprint make it the best choice to advance and achieve the full potential of Timber’s portfolio of product candidates. We believe that LEO has the potential to establish TMB-001 as the standard of care in the treatment of congenital ichthyosis, a devastating, rare disease.“Finally, I would like to sincerely thank our dedicated team at Timber for their tireless efforts, and the clinical investigators, medical professionals, patients and families whose personal contributions have been instrumental in shaping our understanding of TMB-001.”The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in the fourth quarter of 2023, subject to customary closing conditions, including approval by the holders of a majority of the shares of Timber’s common stock. Following completion of the transaction, Timber will become a privately held company and shares of Timber’s common stock will no longer be listed on any public market.Timber will file a Current Report on Form 8-K with the Securities and Exchange Commission (“SEC”) that will include a copy of the merger agreement and the CVR agreement and will contain a more detailed description of the merger and the consideration to be received by Timber stockholders.Advisors Lowenstein Sandler LLP is serving as legal counsel to Timber. Covington & Burling LLP is serving as legal counsel to LEO Pharma.About Timber Pharmaceuticals, Inc.Timber Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases. The Company's investigational therapies have proven mechanisms-of-action backed by decades of clinical experience and well-established CMC (chemistry, manufacturing, and control) and safety profiles. Timber is focused on developing non-systemic treatments for rare dermatologic diseases including congenital ichthyosis (CI) and sclerotic skin diseases. For more information, visit www.timberpharma.com.About LEO PharmaLEO Pharma is a global company dedicated to advancing the standard of care for the benefit of people with skin conditions, their families and society. Founded in 1908 and majority owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advance the science of dermatology, and today, the company offers a wide range of therapies for all disease severities. LEO Pharma is headquartered in Denmark with a global team of 4,700 people, serving millions of patients across the world. In 2022, LEO Pharma generated net sales of DKK 10.6 billion.Additional Information about the Proposed Merger Transaction and Where to Find It This communication relates to the proposed merger transaction involving Timber and may be deemed to be solicitation material in respect of the proposed merger transaction. In connection with the proposed merger transaction, Timber will file relevant materials with the SEC, including a proxy statement on Schedule 14A (the “Proxy Statement”). This communication is not a substitute for the Proxy Statement or for any other document that Timber may file with the SEC or send to Timber’s stockholders in connection with the proposed merger transaction. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF TIMBER ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TIMBER, THE PROPOSED MERGER TRANSACTION AND RELATED MATTERS. The proposed merger transaction will be submitted to Timber’s stockholders for their consideration. Investors and security holders will be able to obtain free copies of the Proxy Statement (when available) and other documents filed by Timber with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed by Timber with the SEC will also be available free of charge on Timber’s website at www.timberpharma.com or by contacting Timber’s Investor Relations contact at [email protected] in the Solicitation Timber and its directors and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies from Timber’s stockholders with respect to the proposed merger transaction under the rules of the SEC. Information about the directors and executive officers of Timber and their ownership of shares of Timber’s common stock is set forth in its Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 31, 2023, its proxy statement for its 2023 annual meeting of stockholders, which was filed with the SEC on May 1, 2023 and in subsequent documents filed with the SEC, including the Proxy Statement. Additional information regarding the persons who may be deemed participants in the proxy solicitations and a description of their direct and indirect interests in the merger transaction, by security holdings or otherwise, will also be included in the Proxy Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of this document as described above.Cautionary Statement Regarding Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Timber generally identifies forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words. These statements are only predictions. Timber has based these forward-looking statements largely on its then-current expectations and projections about future events and financial trends as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Timber’s control. Timber’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: (i) risks associated with Timber’s ability to obtain the stockholder approval required to consummate the proposed merger transaction and the timing of the closing of the proposed merger transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed merger transaction will not occur; (ii) the final calculation of the Black Scholes value of certain of Timber’s warrants, which value will impact the amount of upfront cash consideration to be received by Timber stockholders and is subject to significant change based on certain variables, including the actual trading price of Timber at the time of the merger and the volatility of Timber common stock prior to the merger, and which Timber will only be able to fully calculate until the closing date of the merger and could be significantly higher in value than currently determined by Timber, (iii) the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement; (iv) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement, (v) unanticipated difficulties or expenditures relating to the proposed merger transaction, the response of business partners and competitors to the announcement of the proposed merger transaction, and/or potential difficulties in employee retention as a result of the announcement and pendency of the proposed merger transaction; (vi) the CVR payments are tied to our ability to obtain regulatory approvals or commercialize our products, including the results of any ongoing or future clinical trials which may not satisfy U.S. regulatory authorities; (vii) the regulatory approval process is expensive, time consuming and uncertain and (viii) those risks detailed in Timber’s most recent Annual Report on Form 10-K and subsequent reports filed with the SEC, as well as other documents that may be filed by Timber from time to time with the SEC. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Timber cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this communication relate only to events as of the date on which the statements are made. Except as required by applicable law or regulation, Timber undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.For more information, contact:Timber Pharmaceuticals, Inc.John KoconisChairman and Chief Executive [email protected] Relations:Stephanie PrincePCG Advisory(646) [email protected] Relations:Adam DaleyBerry & Company Public Relations(212) [email protected]

GlobeNewswire

Timber Pharmaceuticals to be Acquired by LEO Pharma

https://finance.yahoo.com/news/timber-pharmaceuticals-acquired-leo-pharma-120000370.html

98cf7aa2-cfcc-3bd6-bc5d-1a58baf3d404

TMCI

Treace Medical Concepts, Inc.PONTE VEDRA, Fla., Aug. 21, 2023 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of hallux valgus (commonly known as bunions) through its Lapiplasty® 3D Bunion Correction™ Procedure, today announced Nathan Minnich has been appointed Sr. Vice President, Marketing, effective immediately. In this new position, Mr. Minnich will lead all aspects of Treace’s marketing efforts, with a focus on expanding the Company’s physician outreach, patient awareness and market penetration efforts. “I am delighted to welcome Nathan to the Treace team,” said John T. Treace, CEO, Founder and Board Member of Treace. “During his career, Nathan has led the development, implementation and execution of successful marketing and direct-to-consumer strategies and programs for several medical technology and healthcare businesses, including most recently at Align Technology. His proven track record of success in building class-leading marketing programs will be instrumental as we continue to focus on driving revenue growth, advancing our patient awareness/DTC initiatives, and launching new products, including our SpeedPlate™ Implant Fixation Platform and Micro-Lapiplasty™ System. This is an exciting time for Treace, and I’m confident that Nathan’s appointment will further bolster our ability to capitalize on the growth opportunities in front of us and accelerate our market performance.”“I am thrilled to be joining Treace, and I look forward to furthering its goal of advancing the standard of care for the surgical management of bunion and related midfoot deformities,” said Nathan Minnich. “Treace’s patented Lapiplasty® 3D Bunion Correction™ Procedure and its Adductoplasty® Midfoot Correction System both provide disruptive technology solutions in one of the largest and most underserved markets in orthopaedics."Story continuesMr. Minnich is an accomplished marketing leader with significant senior management experience in the healthcare and medical device sectors. He most recently served as Vice President, Americas at Align Technology, Inc. where he led a consumer marketing and business innovation team for the Invisalign® System. Prior to Align, he was Vice President of Neuromodulation at LivaNova PLC from 2014 to 2019. Earlier in his career, Mr. Minnich held several sales and marketing roles of increasing responsibility at UCB, AstraZeneca and Johnson & Johnson. Mr. Minnich received a B.S. in Health Policy & Administration from Penn State University and an M.B.A. from Centenary University.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements, including, but not limited to the Company’s ability to capitalize on the growth opportunities in front of it, accelerate its market performance and to set the standard in the treatment of hallux valgus. Forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results or other events to differ materially from those contemplated in this press release can be found in the Risk Factors section of Treace’s public filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 8, 2023 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, filed with the SEC on May 9, 2023. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of their date and, except to the extent required by law, the Company undertakes no obligation to update these statements, whether as a result of any new information, future developments or otherwise.Internet Posting of InformationTreace routinely posts information that may be important to investors in the “Investor Relations” section of its website at www.treace.com. The Company encourages investors and potential investors to consult the Treace website regularly for important information about Treace.About Treace Medical ConceptsTreace Medical Concepts, Inc. is a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related midfoot deformities. Bunions are complex 3-dimensional deformities that originate from an unstable joint in the middle of the foot and affect approximately 65 million Americans, of which Treace estimates 1.1 million are annual surgical candidates. Treace has pioneered and patented the Lapiplasty® 3D Bunion Correction™ System – a combination of instruments, implants, and surgical methods designed to surgically correct all 3 planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion and helping patients get back to their active lifestyles. Treace expanded its offering with the Adductoplasty® Midfoot Correction System, designed for reproducible surgical correction of the midfoot to provide further support to hallux valgus patients. For more information, please visit www.treace.com.To learn more about Treace, connect with us on LinkedIn, Twitter, Facebook and Instagram.Contacts:Treace Medical ConceptsJulie Dewey, IRCChief Communications & IR [email protected](209) 613-6945

GlobeNewswire

Treace Medical Concepts Appoints Nathan Minnich as Senior Vice President, Marketing

https://finance.yahoo.com/news/treace-medical-concepts-appoints-nathan-110000562.html

ab3d729a-fe56-380b-a648-6def2ee6b1fc

TMCI

Treace Medical Concepts, Inc.PONTE VEDRA, Fla., Aug. 22, 2023 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of hallux valgus (commonly known as bunions) through its Lapiplasty® 3D Bunion Correction™ Procedure, today announced that John T. Treace, Chief Executive Officer, and Mark L. Hair, Chief Financial Officer, will participate in a fireside chat at the 21st Annual Morgan Stanley Global Healthcare Conference on Wednesday, September 12, 2023, beginning at approximately 8:10 am ET.A live webcast and replay of the fireside chat will be available on the Company’s investor relations website at https://investors.treace.com/.Internet Posting of InformationTreace routinely posts information that may be important to investors in the “Investor Relations” section of its website at www.treace.com. The company encourages investors and potential investors to consult the Treace website regularly for important information about Treace.About Treace Medical ConceptsTreace Medical Concepts, Inc. is a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related midfoot deformities. Bunions are complex 3-dimensional deformities that originate from an unstable joint in the middle of the foot and affect approximately 65 million Americans, of which Treace estimates 1.1 million are annual surgical candidates. Treace has pioneered and patented the Lapiplasty® 3D Bunion Correction™ System – a combination of instruments, implants, and surgical methods designed to surgically correct all 3 planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion and helping patients get back to their active lifestyles. Treace expanded its offering with the Adductoplasty® Midfoot Correction System, designed for reproducible surgical correction of the midfoot to provide further support to hallux valgus patients. For more information, please visit www.treace.com.Story continuesTo learn more about Treace, connect with us on LinkedIn, Twitter, Facebook and Instagram.Contacts:Treace Medical ConceptsJulie Dewey, IRCChief Communications & IR [email protected](209) 613-6945

GlobeNewswire

Treace Announces Participation in the 21st Annual Morgan Stanley Global Healthcare Conference

https://finance.yahoo.com/news/treace-announces-participation-21st-annual-200500914.html

77c54973-4337-3fa7-90e8-a47093de4425

TMO

Thermo Fisher Scientific TMO recently announced the launch of Gibco CTS Detachable Dynabeads (“CTS Detachable Dynabeads”). The next-generation platform of Dynabeads comes with the first-of-its-kind active release mechanism for clinical trials and commercial manufacturing use.The CTS Detachable Dynabeads platform works within TMO’s modular, closed and automated cell therapy manufacturing workflow. The latest development represents a new generation of cell therapy isolation and activation products that prioritize patient quality and safety while simultaneously creating greater workflow control for Thermo Fisher’s customers.News in DetailThe active release mechanism of CTS Detachable Dynabeads utilizes a release buffer that enables users to actively detach Dynabeads from a target cell at any point during their manufacturing process. This helps save manufacturing costs while delivering high cell purity, yield and viability. These manufacturing benefits can help cell therapy developers get more life-changing treatments to patients faster, especially for those diagnosed with complex diseases such as blood cancer.Zacks Investment ResearchImage Source: Zacks Investment ResearchCTS Detachable Dynabeads offer process flexibility, compatibility with automation and scalability through its differentiating active release mechanism. This functionality for cGMP and clinical use helps empower users to achieve greater control of their processes, with the ability to consistently deliver target cells with the desired characteristics for their therapy.Cell recovery, phenotype and viability for downstream steps within the workflow are also optimized through this platform. These advantages are critical for scaling cell therapy manufacturing while maintaining a consistent performance in the transition from process development to clinical trials and commercial manufacturing.The first offering within this platform is the CTS Detachable Dynabeads CD3/CD28 Kit, which is specifically designed to help manufacturers isolate and actively target T cells in a one-step mechanism. The CTS Detachable Dynabeads CD3/CD28 Kit of isolation and activation reagents will serve both autologous and allogeneic manufacturing processes across multiple cell modalities.Story continuesIndustry ProspectsPer a Research report, the global cell and gene therapy market was valued at $7.28 billion in 2022 and is expected to witness a CAGR of 26.6% in the 2023-2030 period.Strategic Boosts for Cell Therapy DevelopmentsThermo Fisher’s Gibco Cell Culture for Bioprocessing, Chromatography and Protein Purification is already in high demand. As a key pillar of the growth strategy, Thermo Fisher is leveraging its scale and high growth in emerging markets to create a differentiated experience for its customers.The company is strengthening its capabilities serving emerging markets by opening a new Gibco cell culture rapid prototyping facility at its existing site in Suzhou, China. This facility will help regional customers accelerate the transition of their cell culture media production to current good manufacturing practices.The new cell therapy cGMP Manufacturing and Collaboration Center, built in collaboration with the University of California, San Francisco, offers solutions for cell therapy development — from discovery to clinical research through commercial manufacturing. Thermo Fisher sees immense potential in partnerships like this to transform clinical care.Price PerformanceIn the past six months, TMO shares have decreased 3.9% against the industry’s rise of 5.2%.Zacks Rank and Key PicksThermo Fisher currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the broader medical space are Haemonetics HAE, Quanterix QTRX and SiBone SIBN. Each of these companies presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Haemonetics stock has risen 14.4% in the past year. Earnings estimates for Haemonetics have increased from $3.58 to $3.82 in 2023 and $3.98 to $4.07 in 2024 in the past 30 days.HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.Estimates for Quanterix’s 2023 loss per share have narrowed from $1.16 to 97 cents in the past 30 days. Shares of the company have soared 149.6% in the past year against the industry’s decline of 5.3%.QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.Estimates for SiBone’s2023 loss have narrowed from $1.33 to $1.25 per share in the past 30 days. Shares of the company have rallied 21.9% in the past year compared with the industry’s rise of 3.3%.SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.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 reportThermo Fisher Scientific Inc. (TMO) : Free Stock Analysis ReportHaemonetics Corporation (HAE) : Free Stock Analysis ReportQuanterix Corporation (QTRX) : Free Stock Analysis ReportSiBone (SIBN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Thermo Fisher (TMO) Adds New Platform to CTS Product Portfolio

https://finance.yahoo.com/news/thermo-fisher-tmo-adds-platform-120400356.html

b399160a-f02d-32c6-aa5a-b3eea6a9c01c

TMO

Thermo Fisher Scientific Inc (NYSE:TMO) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at $520.38, Thermo Fisher Scientific Inc has witnessed a decline of 2.12% over a period, marked against a three-month change of 1.28%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that Thermo Fisher Scientific Inc is well-positioned for substantial growth in the near future.Warning! GuruFocus has detected 3 Warning Signs with SPR. Click here to check it out. TMO 30-Year Financial DataThe intrinsic value of TMOUnveiling the Investment Potential of Thermo Fisher Scientific Inc (TMO): A Comprehensive AnalysisDecoding 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.Thermo Fisher Scientific Inc has been assigned the following ranks:1. Financial strength rank: 6/102. Profitability rank: 9/103. Growth rank: 10/104. GF Value rank: 6/105. Momentum rank: 7/10Each one of these components is ranked and the ranks also have positive correlation with the long term performances of stocks. The GF score is calculated using the five key aspects of analysis. Through backtesting, we know that each of these key aspects has a different impact on the stock price performance. Thus, they are weighted differently when calculating the total score. With a high profitability rank and an impressive growth rank, GuruFocus assigned Thermo Fisher Scientific Inc the GF Score of 94 out of 100, which signals the highest outperformance potential.Understanding Thermo Fisher Scientific Inc's BusinessThermo Fisher Scientific Inc, with a market cap of $200.84 billion, is a leading provider of scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. The firm operates through four segments as of mid-2023: analytical technologies (16% of sales); specialty diagnostic products (10%); life science solutions (24%); and lab products and services, which includes CRO services (54%). The company's sales stand at $43.52 billion with an operating margin of 16.3%.Story continuesUnveiling the Investment Potential of Thermo Fisher Scientific Inc (TMO): A Comprehensive AnalysisFinancial Strength BreakdownAccording to the Financial Strength rating, Thermo Fisher Scientific Inc's robust balance sheet exhibits resilience against financial volatility, reflecting prudent management of capital structure. The Interest Coverage ratio for Thermo Fisher Scientific Inc stands impressively at 6.64, underscoring its strong capability to cover its interest obligations. With a favorable Debt-to-Revenue ratio of 0.78, Thermo Fisher Scientific Inc's strategic handling of debt solidifies its financial health.Profitability Rank BreakdownThe Profitability Rank shows Thermo Fisher Scientific Inc's impressive standing among its peers in generating profit. Thermo Fisher Scientific Inc Operating Margin has increased (20.36%) over the past five years, as shown by the following data: 2018: 15.74; 2019: 16.37; 2020: 24.50; 2021: 26.08; 2022: 18.94. Thermo Fisher Scientific Inc's strong Predictability Rank of 4.0 stars out of five underscores its consistent operational performance, providing investors with increased confidence.Growth Rank BreakdownRanked highly in Growth, Thermo Fisher Scientific Inc demonstrates a strong commitment to expanding its business. The company's 3-Year Revenue Growth Rate is 21.6%, which outperforms better than 71.22% of 205 companies in the Medical Diagnostics & Research industry. Moreover, Thermo Fisher Scientific Inc has seen a robust increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past few years. Specifically, the three-year growth rate stands at 20.2, and the rate over the past five years is 21.3. This trend accentuates the company's continued capability to drive growth.Unveiling the Investment Potential of Thermo Fisher Scientific Inc (TMO): A Comprehensive AnalysisConclusionGiven Thermo Fisher Scientific Inc's strong financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights the firm's unparalleled position for potential outperformance. This analysis underscores the company's robust financial health and its potential to deliver substantial returns to 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 Thermo Fisher Scientific Inc (TMO): A Comprehensive Analysis

https://finance.yahoo.com/news/unveiling-investment-potential-thermo-fisher-170320960.html

14fa69ab-0164-319d-ad7e-7fb642e6be9e

TMP

ITHACA, N.Y., July 21, 2023--(BUSINESS WIRE)--Tompkins Financial Corporation (NYSE American: TMP)Tompkins Financial Corporation ("Tompkins" or the "Company") reported diluted earnings per share of $0.59 for the second quarter of 2023, down 56.3% from the immediate prior quarter, and down 59.3% from diluted earnings per share of $1.45 reported in the second quarter of 2022. Net income for the second quarter of 2023 was $8.5 million, down $12.4 million, or 59.4%, when compared to the $20.9 million reported for the same period in 2022.Results for the current quarter were negatively affected by the sale of $80.9 million of available-for-sale securities. Though the sale resulted in a $7.1 million pre-tax loss on securities transactions during the quarter (or $0.37 per share), the transaction is expected to have a positive impact on future earnings. The available-for-sale securities sold in the second quarter of 2023 had an average yield of 0.48%, with a remaining average life of 2.3 years. Approximately $15.0 million of the proceeds from sale were reinvested in available-for-sale securities with an average yield of approximately 4.30%, while the remaining proceeds were used to pay down approximately $65.0 million of overnight borrowings with the Federal Home Loan Bank ("FHLB").For the year-to-date period ended June 30, 2023, diluted earnings per share were $1.94, down 36.4% from $3.05 for the same year-to-date period in 2022. Year-to-date net income was $27.9 million for the six month period ended June 30, 2023, down $16.3 million, or 36.9%, when compared to $44.1 million for the same period in 2022. Year-to-date results were also negatively impacted by the loss on securities transactions described above.Tompkins President and CEO, Stephen Romaine, commented, "The economic environment remains challenging for the banking industry. Despite these challenges, which continue to negatively affect our net interest income, we saw some positive trends during the second quarter and first half of 2023. These included annualized loan growth of 6.0% from the immediate prior quarter, stable noninterest bearing deposit balances when compared to the first quarter this year, and year-to-date annualized fee income growth of 1.3% over that same period in 2022."Story continuesSELECTED HIGHLIGHTS FOR THE PERIOD:Total loans at June 30, 2023 were $5.4 billion, up 6.0% annualized compared to the immediate prior quarter, and up $189.9 million, or 3.7%, from June 30, 2022.Total deposits at June 30, 2023 were $6.5 billion, down $54.4 million, or 0.84%, from March 31, 2023 and down $314.9 million, or 4.65%, from June 30, 2022. The year-over-year pace of decline of total deposits slowed in the second quarter, when compared to the year-over-year decline of 7.2% over the twelve month period ended March 31, 2023.Loan to deposit ratio remains stable at 83% as compared to 81% for the prior quarterRegulatory Tier 1 capital to average assets was 9.57% at June 30, 2023, compared to 9.63% at March 31, 2023 and 9.02% at June 30, 2022.Total nonperforming assets at June 30, 2023 represented 0.41% of total assets, an increase of 10.8% from the immediate prior quarter.NET INTEREST INCOMENet interest income was $51.9 million for the second quarter of 2023, down from $54.2 million for the first quarter of 2023 and $58.3 million for the second quarter of 2022. Net interest margin was 2.83% for the second quarter of 2023, compared to 2.99% reported for the first quarter of 2023 and 3.09% reported for the second quarter of 2022. The decrease in net interest income and net interest margin from the first quarter of 2023 and the second quarter of 2022 was due primarily to the increase in interest rates on interest-bearing liabilities outpacing increases on interest earning asset yields due to the higher interest rate environment.For the year-to-date period ended June 30, 2023, net interest income was $106.1 million, down $8.7 million or 7.6% when compared to the same period in 2022.Average loans for the quarter ended June 30, 2023 were up $53.4 million, or 1.0%, from the first quarter of 2023, and $189.4 million, or 3.7%, compared to the same period in 2022. The increase in average loans was mainly in the commercial real estate portfolio compared to the first quarter of 2023, and the quarter ended June 30, 2022. The average yield on interest-earning assets for the quarter ended June 30, 2023 was 3.91%, up 10 basis points compared to the quarter ended March 31, 2023, and up 68 basis points compared to the quarter ended June 30, 2022.Average total deposits for the second quarter of 2023 were down $121.4 million, or 1.8%, compared to the first quarter of 2023, and down $414.4 million, or 6.0%, compared to the same period in 2022. The decrease was largely driven by a decline in stimulus funding and a tightening monetary policy that has led to a declining trend in bank deposits on a national level, as reported by the Federal Reserve. The cost of interest-bearing deposits increased to 1.41% for the second quarter of 2023, compared to 1.10% for the first quarter of 2023, and 0.18% for the second quarter of 2022. The cost of interest-bearing deposits for the second quarter of 2023 increased 31 basis points from March 31, 2023, which is down from the 41 basis point increase in the cost of interest-bearing deposits for the first quarter of 2023, compared to the fourth quarter of 2022. Noninterest bearing deposits to total deposits at June 30, 2023, were 31.4% compared to 30.9% at March 31, 2023. The average cost of interest-bearing liabilities for the second quarter of 2023 of 1.64%, represents an increase of 38 basis points over the first quarter of 2023, and an increase of 142 basis points over the same period in 2022.NONINTEREST INCOMENoninterest income of $12.6 million for the second quarter of 2023 was down $6.3 million, or 33.4%, compared to the second quarter of 2022. Year-to-date noninterest income of $33.0 million was down $5.9 million, or 15.2%, compared to the same six month period in 2022. Noninterest income represented 19.6% of total revenue for the quarter ended June 30, 2023, compared to 24.5% for the quarter ended June 30, 2022. The decrease in noninterest income in the second quarter of 2023 was largely due to the sale of available-for-sale securities, which resulted in the recognition of a pre-tax loss of $7.1 million. Partially offsetting the decreases in noninterest income in the second quarter of 2023 compared to the prior year quarter were increases in fee income of $337,000 and an increase in income on bank-owned life insurance of $383,000.NONINTEREST EXPENSENoninterest expense was $52.0 million for the second quarter of 2023, which was up $2.8 million, or 5.8%, over the second quarter of 2022. For the year-to-date period, noninterest expense of $102.1 million was up $6.2 million, or 6.4%, from the same period in 2022. The increase in noninterest expense in the second quarter of 2023 over the same quarter last year was mainly in higher personnel-related expenses, up $1.2 million. The increase in personnel-related expenses was mainly in salaries and wages and reflects annual merit adjustments. Significant components that increased in other expenses were professional fees which were up $405,000, other losses which were up $517,000, and marketing which was up $232,000, in each case as compared to the second quarter of 2022.INCOME TAX EXPENSEThe Company's effective tax rate was 17.3% for the second quarter of 2023, compared to 23.2% for the same period in 2022. The effective tax rate for the six months ended June 30, 2023 was 21.6%, compared to 23.1% reported for the same period in 2022.The decrease in the effective tax rate for the three and six months ended June 30, 2023, compared to the same periods in 2022 is largely due to the anticipated retention of certain New York State tax benefits. The Company's banking subsidiary has an investment in a real estate investment trust that provides certain benefits on its New York State tax return for qualifying entities. A condition to claim the benefit is that the consolidated company has qualified average assets of no more than $8.0 billion for the taxable year. Based on current estimates of average assets during 2023, the Company expects to retain the benefits in 2023.ASSET QUALITYThe allowance for credit losses represented 0.91% of total loans and leases at June 30, 2023, up from 0.87% at March 31, 2023, and up from 0.85% at June 30, 2022. The ratio of the allowance to total nonperforming loans and leases was 154.76% for the second quarter of 2023, compared to 162.11% at March 31, 2023 and 147.95% at June 30, 2022.Provision for credit losses for the second quarter of 2023 was $2.3 million compared to $856,000 for the same period in 2022. Provision for credit losses for the six months ended June 30, 2023 was $1.4 million, compared to $336,000 for the six months ended June 30, 2022. The increase in provision expense for both the quarter and year-to-date periods was mainly driven by weaker economic forecasts, loan growth, and changes in asset quality. Net recoveries for the quarter ended June 30, 2023 were $27,000 compared to net recoveries of $887,000 reported for the same period in 2022.Nonperforming assets represented 0.41% of total assets at June 30, 2023, down from 0.43% at December 31, 2022 and up from the 0.38% reported at June 30, 2022. At June 30, 2023, nonperforming loans and leases totaled $31.4 million, compared to $32.8 million at December 31, 2022 and $29.6 million at June 30, 2022. The increase in loans past due 30-89 days at quarter end June 30, 2023 was mainly due to the inclusion of a $15.3 million commercial real estate loan.Special Mention and Substandard loans and leases totaled $118.1 million at June 30, 2023, reflecting an increase from the $98.3 million reported at December 31, 2022, and $115.0 million at June 30, 2022. The increase over year-end in Special Mention and Substandard was mainly a result of the downgrade of one commercial real estate loan added to Special Mention during the second quarter of 2023 and the downgrade of one commercial real estate loan previously reported as Special Mention.CAPITAL POSITIONCapital ratios at June 30, 2023 remained well above the regulatory minimums for well-capitalized institutions. The ratio of total capital to risk-weighted assets was 14.48% at June 30, 2023, compared to 14.42% at December 31, 2022 and 14.07% at June 30, 2022. The ratio of Tier 1 capital to average assets was 9.57% at June 30, 2023, compared to 9.34% at December 31, 2022 and 9.02% at June 30, 2022.During the second quarter of 2023, the Company repurchased 108,219 common shares at an aggregate cost of $6.3 million. These shares were purchased under the Company's Stock Repurchase Program announced in the third quarter of 2021.The Company announced today that its Board of Directors has authorized a new Stock Repurchase Program to repurchase up to 400,000 shares of the Company's outstanding common stock, par value $0.10 per share, from time to time, over the next 24 months.LIQUIDITY POSITIONThe Company's liquidity position remained stable from the first quarter of 2023. Liquidity is enhanced by ready access to national and regional wholesale funding sources including Federal funds purchased, repurchase agreements, brokered deposits, Federal Reserve Bank Discount Window advances and FHLB advances. The Company maintains ready access liquidity of $1.7 billion, or 22.3% of total assets at June 30, 2023. As members of the FHLB, the Company can use certain unencumbered mortgage-related assets and securities to secure borrowings from the FHLB. At June 30, 2023 the Company had an available borrowing capacity at the FHLB of $1.3 billion, unchanged from the first quarter of 2023. Through various programs at the Federal Reserve Bank, the Company has the ability to use certain unencumbered mortgage-related assets and securities to secure borrowings from the Federal Reserve Bank's Discount Window. At June 30, 2023 the available borrowing capacity with the Federal Reserve Bank was $245.7 million, secured by investment securities. In addition to the available borrowing lines at the FHLB and Federal Reserve Bank, at June 30, 2023, the Company maintained $137.7 million of unencumbered securities which could be pledged to further enhance secured borrowing capacity.ABOUT TOMPKINS FINANCIAL CORPORATIONTompkins Financial Corporation is a banking and financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Headquartered in Ithaca, NY, Tompkins Financial is parent to Tompkins Community Bank, Tompkins Insurance Agencies, Inc., and offers wealth management services through Tompkins Financial Advisors. For more information on Tompkins Financial, visit www.tompkinsfinancial.com."Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this press release that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements may be identified by use of such words as "may", "will", "estimate", "intend", "continue", "believe", "expect", "plan", or "anticipate", the negative and other variations of these terms and other similar words. Forward-looking statements are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to certain uncertainties and factors relating to the Company’s operations and economic environment, all of which are difficult to predict and many of which are beyond the control of the Company, that could cause actual results of the Company to differ materially from those expressed and/or implied by forward-looking statements and historical performance. The following factors, in addition to those listed as Risk Factors in Item 1A in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission are among those that could cause actual results to differ materially from the forward-looking statements: changes in general economic, market and regulatory conditions; our ability to attract and retain deposits and access other sources of liquidity; GDP growth; the impact of the interest rate and inflationary environment on the Company's business, financial condition and results of operations; other income or cash flow anticipated from the Company's operations, investment and/or lending activities; changes in laws and regulations affecting banks, bank holding companies and/or financial holding companies, such as state and local government mandates, SEC rule-making, the Dodd-Frank Act and Basel III and the Economic Growth, Regulatory Relief, and Consumer Protection Act; the impact of any change in the FDIC insurance assessment rate or the rules and regulations related to the calculation of the FDIC insurance assessment amount; technological developments and changes; cyber security incidents and threats, the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; governmental and public policy changes, including environmental regulation; reliance on large customers; uncertainties arising from national and global events, including the war in Ukraine, as well as the potential impact of widespread protests, civil unrest, political uncertainty on the economy and the financial services industry, and pandemics or other public health crises, including the COVID-19 pandemic; and access to financial resources in the amounts, at the times and on the terms required to support the Company’s future businesses. The Company does not undertake any obligation to update its forward-looking statements.TOMPKINS FINANCIAL CORPORATIONCONSOLIDATED STATEMENTS OF CONDITION(In thousands, except share and per share data)As ofAs ofASSETS06/30/202312/31/2022(Audited)Cash and noninterest bearing balances due from banks$65,916$18,572Interest bearing balances due from banks15,69859,265Cash and Cash Equivalents81,61477,837Available-for-sale debt securities, at fair value (amortized cost of $1,688,051 at June 30, 2023 and $1,831,791 at December 31, 2022)1,468,0031,594,967Held-to-maturity securities, at amortized cost (fair value of $262,444 at June 30, 2023 and $261,692 at December 31, 2022)312,369312,344Equity securities, at fair value778777Total loans and leases, net of unearned income and deferred costs and fees5,352,3655,268,911Less: Allowance for credit losses48,54545,934Net Loans and Leases5,303,8205,222,977Federal Home Loan Bank and other stock23,64917,720Bank premises and equipment, net81,08782,140Corporate owned life insurance86,70985,556Goodwill92,60292,602Other intangible assets, net2,5132,708Accrued interest and other assets173,094181,058Total Assets$7,626,238$7,670,686LIABILITIESDeposits:Interest bearing:Checking, savings and money market3,659,2203,820,739Time770,594631,411Noninterest bearing2,024,8372,150,145Total Deposits6,454,6516,602,295Federal funds purchased and securities sold under agreements to repurchase50,48356,278Other borrowings387,100291,300Other liabilities97,563103,423Total Liabilities$6,989,797$7,053,296EQUITYTompkins Financial Corporation shareholders' equity:Common Stock - par value $.10 per share: Authorized 25,000,000 shares; Issued: 14,441,413 at June 30, 2023; and 14,555,741 at December 31, 20221,4441,456Additional paid-in capital298,133302,763Retained earnings537,095526,727Accumulated other comprehensive loss(195,520)(208,689)Treasury stock, at cost – 124,265 shares at June 30, 2023, and 128,749 shares at December 31, 2022(6,185)(6,279)Total Tompkins Financial Corporation Shareholders’ Equity634,967615,978Noncontrolling interests1,4741,412Total Equity$636,441$617,390Total Liabilities and Equity$7,626,238$7,670,686TOMPKINS FINANCIAL CORPORATIONCONSOLIDATED STATEMENTS OF INCOME(In thousands, except per share data) (Unaudited)Three Months EndedSix Months Ended06/30/202306/30/202206/30/202306/30/2022INTEREST AND DIVIDEND INCOMELoans$63,527$52,505$124,369$103,636Due from banks18364322105Available-for-sale debt securities6,6187,06313,36113,833Held-to-maturity securities1,2191,2012,4332,330Federal Home Loan Bank and other stock323120623225Total Interest and Dividend Income71,870$60,953$141,108$120,129INTEREST EXPENSETime certificates of deposits of $250,000 or more2,5264004,313826Other deposits13,1191,64723,5133,267Federal funds purchased and securities sold under agreements to repurchase15152931Other borrowings4,3146297,1111,129Total Interest Expense19,9742,69134,9665,253Net Interest Income51,89658,262106,142114,876Less: Provision for credit loss expense2,2538561,428336Net Interest Income After Credit for Credit Loss Expense49,64357,406104,714114,540NONINTEREST INCOMEInsurance commissions and fees8,6728,42918,18117,746Wealth management fees4,6784,5969,1879,513Service charges on deposit accounts1,6401,7563,3863,535Card services income3,0872,9595,7695,502Other income1,6031,2413,5442,717Net loss on securities transactions(7,065)(37)(7,052)(84)Total Noninterest Income12,61518,94433,01538,929NONINTEREST EXPENSESalaries and wages25,33724,39649,84947,668Other employee benefits6,6476,34113,38812,138Net occupancy expense of premises3,3273,1316,6266,672Furniture and fixture expense2,1052,0044,1593,995Amortization of intangible assets84219167437Other operating expense14,46813,02927,93725,049Total Noninterest Expenses51,96849,120102,12695,959Income Before Income Tax Expense10,29027,23035,60357,510Income Tax Expense1,7846,3297,68513,305Net Income Attributable to Noncontrolling Interests and Tompkins Financial Corporation8,50620,90127,91844,205Less: Net Income Attributable to Noncontrolling Interests31326263Net Income Attributable to Tompkins Financial Corporation$8,47520,86927,85644,142Basic Earnings Per Share$0.59$1.45$1.94$3.06Diluted Earnings Per Share$0.59$1.45$1.94$3.05Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)Quarter EndedQuarter EndedJune 30, 2023June 30, 2022AverageAverageBalanceAverageBalanceAverage(Dollar amounts in thousands)(QTD)InterestYield/Rate(QTD)InterestYield/RateASSETSInterest-earning assetsInterest-bearing balances due from banks$13,585$1835.40%$88,094$640.29%Securities (1)U.S. Government securities1,972,7197,3041.49%2,305,1027,7461.35%State and municipal (2)92,1945902.57%97,4816192.55%Other securities (2)3,288566.86%3,337283.40%Total securities2,068,2017,9501.54%2,405,9208,3931.40%FHLBNY and FRB stock23,2113235.59%12,2341203.92%Total loans and leases, net of unearned income (2)(3)5,304,71763,7094.82%5,115,34052,7334.14%Total interest-earning assets7,409,71472,1653.91%7,621,58861,3103.23%Other assets226,086209,057Total assets$7,635,800$7,830,645LIABILITIES & EQUITYDepositsInterest-bearing depositsInterest bearing checking, savings, & money market$3,701,229$10,5901.15%$4,073,279$8900.09%Time deposits745,9705,0552.72%603,7911,1570.77%Total interest-bearing deposits4,447,19915,6451.41%4,677,0702,0470.18%Federal funds purchased & securities sold under agreements to repurchase56,083150.11%54,885150.11%Other borrowings379,7444,3144.56%169,3906291.49%Total interest-bearing liabilities4,883,02619,9741.64%4,901,3452,6910.22%Noninterest bearing deposits2,004,5602,189,132Accrued expenses and other liabilities97,660100,813Total liabilities6,985,2467,191,290Tompkins Financial Corporation Shareholders’ equity649,097637,896Noncontrolling interest1,4571,459Total equity650,554639,355Total liabilities and equity$7,635,800$7,830,645Interest rate spread2.27%3.01%Net interest income/margin on earning assets52,1912.83%58,6193.09%Tax Equivalent Adjustment(295)(357)Net interest income per consolidated financial statements$51,896$58,262Average Consolidated Statements of Condition and Net Interest Analysis (Unaudited)Year to Date Period EndedYear to Date Period EndedJune 30, 2023June 30, 2022AverageAverageBalanceBalanceAverage(Dollar amounts in thousands)(YTD)Interest(YTD)InterestYield/RateASSETSInterest-earning assetsInterest-bearing balances due from banks$13,161$3224.93%$110,984$1050.19%Securities (1)U.S. Government securities2,002,84614,7281.48%2,299,38915,1081.32%State and municipal (2)92,6951,1882.58%99,6021,2672.57%Other securities (2)3,2861106.70%3,363513.06%Total securities2,098,82716,0261.54%2,402,35416,4261.38%FHLBNY and FRB stock19,9986236.29%11,172...2254.06%Total loans and leases, net of unearned income (2)(3)5,278,145124,7444.77%5,085,808104,0884.13%Total interest-earning assets7,410,131141,7153.86%7,610,318120,8443.20%Other assets224,671259,809Total assets$7,634,802$7,870,127LIABILITIES & EQUITYDepositsInterest-bearing depositsInterest bearing checking, savings, & money market$3,767,032$19,2301.03%$4,116,870$1,6380.08%Time deposits710,1198,5962.44%617,6162,4550.80%Total interest-bearing deposits4,477,15127,8261.25%4,734,4864,0930.17%Federal funds purchased & securities sold under agreements to repurchase56,799290.10%59,536310.11%Other borrowings325,0527,1114.41%147,4661,1291.54%Total interest-bearing liabilities4,859,00234,9661.45%4,941,4885,2530.21%Noninterest bearing deposits2,034,9612,149,201Accrued expenses and other liabilities99,905103,451Total liabilities6,993,8687,194,140Tompkins Financial Corporation Shareholders’ equity639,494674,545Noncontrolling interest1,4401,442Total equity640,934675,987Total liabilities and equity$7,634,802$7,870,127Interest rate spread2.41%2.99%Net interest income/margin on earning assets106,7492.90%115,5913.06%Tax Equivalent Adjustment(607)(715)Net interest income per consolidated financial statements$106,142$114,876Tompkins Financial Corporation - Summary Financial Data (Unaudited)(In thousands, except per share data)Quarter-EndedYear-EndedPeriod End Balance SheetJun-23Mar-23Dec-22Sep-22Jun-22Dec-22Securities$1,781,150$1,899,001$1,908,088$2,054,036$2,204,851$1,908,088Total Loans5,352,3655,273,6715,268,9115,208,4365,162,5035,268,911Allowance for credit losses48,54546,09945,93444,77243,79345,934Total assets7,626,2387,644,3717,670,6867,779,9417,842,4617,670,686Total deposits6,454,6516,509,0096,602,2956,936,7266,769,5216,602,295Federal funds purchased and securities sold under agreements to repurchase50,48363,49156,27855,34050,07556,278Other borrowings387,100327,000291,300101,000295,600291,300Total common equity634,967648,322615,978571,453622,843615,978Total equity636,441649,765617,390572,959624,318617,390Average Balance SheetAverage earning assets$7,409,714$7,410,553$7,568,656$7,639,123$7,621,588$7,607,078Average assets7,635,8007,633,7937,721,3357,853,8477,830,6457,828,520Average interest-bearing liabilities4,883,0264,834,7124,828,5614,861,8574,901,3454,892,952Average equity650,554631,208580,720635,324639,354641,726Share dataWeighted average shares outstanding (basic)14,314,13314,326,59514,308,32314,289,02214,317,41514,328,280Weighted average shares outstanding (diluted)14,346,78714,389,67314,385,88414,367,14914,387,60114,404,294Period-end shares outstanding14,405,50314,519,74814,519,83114,483,75714,504,60414,519,831Common equity book value per share$44.08$44.65$42.42$39.45$42.94$42.42Tangible book value per share (Non-GAAP)**$37.54$38.16$35.93$32.93$36.42$35.93**See "Non-GAAP measures" below for a discussion of non-GAAP financial measures and a reconciliation of non-GAAP financial measures to the most directly comparable financial measures presented in accordance with GAAP.Income StatementNet interest income$51,896$54,246$57,294$58,111$58,262$230,281(Credit) provision for credit loss expense (5)2,253(825)1,3971,0568562,789Noninterest income12,61520,40018,35120,69218,94477,972Noninterest expense (5)51,96850,15850,19049,60249,120195,751Income tax expense1,7845,9014,4786,7746,32924,557Net income attributable to Tompkins Financial Corporation8,47519,38119,54821,34020,86985,030Noncontrolling interests3131323132126Basic earnings per share (4)0.591.351.361.491.455.92Diluted earnings per share (4)0.591.351.361.481.455.89Nonperforming AssetsNonaccrual loans and leases$31,333$28,424$28,289$30,013$24,665$28,289Loans and leases 90 days past due and accruing3413251616225Performing troubled debt restructuring*004,5304,7304,8724,530Total nonperforming loans and leases31,36728,43732,84434,90429,59932,844OREO3636152335122152Total nonperforming assets$31,403$28,473$32,996$35,239$29,721$32,996*No amount shown for periods subsequent to the Company's adoption of ASU 2022-02 effective January 1, 2023.Tompkins Financial Corporation - Summary Financial Data (Unaudited) - continuedQuarter-EndedYear-EndedDelinquency - Total loan and lease portfolioJun-23Mar-23Dec-22Sep-22Jun-22Dec-22Loans and leases 30-89 days past due and accruing$20,255$5,894$3,172$3,160$9,837$3,172Loans and leases 90 days past due and accruing3413251616225Total loans and leases past due and accruing20,2895,9073,1973,3219,8993,197Allowance for Credit LossesBalance at beginning of period$46,099$45,934$44,772$43,793$42,126$42,843Impact of adopting ASC 3260640000Provision (credit) for credit losses2,419(1,180)1,3521,101780$2,499Net loan and lease (recoveries) charge-offs(27)(1,281)190122(887)$(592)Allowance for credit losses at end of period$48,545$46,099$45,934$44,772$43,793$45,934Allowance for Credit Losses - Off-Balance Sheet ExposureBalance at beginning of period$3,151$2,796$2,751$2,796$2,720$2,506(Credit) provision for credit losses(166)35545(45)76$290Allowance for credit losses at end of period$2,985$3,151$2,796$2,751$2,796$2,796Loan Classification - Total PortfolioSpecial Mention$56,305$39,255$49,752$66,730$72,270$49,752Substandard61,82046,31548,53740,00742,75648,537Ratio AnalysisCredit QualityNonperforming loans and leases/total loans and leases0.59%0.54%0.62%0.67%0.57%0.62%Nonperforming assets/total assets0.41%0.37%0.43%0.45%0.38%0.43%Allowance for credit losses/total loans and leases0.91%0.87%0.87%0.86%0.85%0.87%Allowance/nonperforming loans and leases154.76%162.11%139.86%128.27%147.95%139.85%Net loan and lease losses annualized/total average loans and leases0.00%(0.10)%0.01%0.01%(0.07)%(0.01)%Capital AdequacyTier 1 Capital (to average assets)9.57%9.63%9.34%9.14%9.02%9.34%Total Capital (to risk-weighted assets)14.48%14.62%14.42%14.26%14.07%14.42%Profitability (period-end)Return on average assets *0.45%1.03%1.00%1.08%1.07%1.09%Return on average equity *5.22%12.45%13.36%13.33%13.09%13.25%Net interest margin (TE) *2.83%2.99%3.02%3.04%3.09%3.05%* Quarterly ratios have been annualizedTompkins Financial Corporation - Summary Financial Data (Unaudited) - continuedNon-GAAP MeasuresThis press release contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (GAAP). Where non-GAAP disclosures are used in this press release, the comparable GAAP measure, as well as reconciliation to the comparable GAAP measure, is provided in the below tables. The Company believes the non-GAAP measures provide meaningful comparisons of our underlying operational performance and facilitate management's and investors' assessments of business and performance trends in comparison to others in the financial services industry. These non-GAAP financial measures should not be considered in isolation or as a measure of the Company's profitability or liquidity; they are in addition to, and are not a substitute for, financial measures under GAAP. The non-GAAP financial measures presented herein may be different from non-GAAP financial measures used by other companies, and may not be comparable to similarly titled measures reported by other companies. Further, the Company may utilize other measures to illustrate performance in the future. Non-GAAP financial measures have limitations since they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP.Reconciliation of Tangible Book Value Per Share (non-GAAP) to Common Equity Book Value Per Share (GAAP)Quarter-EndedYear-endedJun-23Mar-23Dec-22Sep-22Jun-22Dec-22Total common equity$634,967$648,322$615,978$571,453$622,843$615,978Less: Goodwill and intangibles94,16994,25394,33694,55494,61794,336Tangible common equity (Non-GAAP)540,798554,069521,642476,899528,226521,642Ending shares outstanding14,405,50314,519,74814,519,83114,483,75714,504,60414,519,831Tangible book value per share (Non-GAAP)$37.54$38.16$35.93$32.93$36.42$35.93(1) Average balances and yields on available-for-sale securities are based on historical amortized cost.(2) Interest income includes the tax effects of taxable-equivalent adjustments using an effective income tax rate of 21% in 2023 and 2022 to increase tax exempt interest income to taxable-equivalent basis.(3) Nonaccrual loans are included in the average asset totals presented above. Payments received on nonaccrual loans have been recognized as disclosed in Note 1 of the Company's consolidated financial statements included in Part I of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022.(4) Earnings per share for the full fiscal year may not equal the sum of the quarterly earnings per share as a result of rounding of average shares.(5) Amounts in prior periods' financial statements are reclassified when necessary to conform to the current period's presentation.View source version on businesswire.com: https://www.businesswire.com/news/home/20230721547318/en/ContactsStephen S. Romaine, President & CEOFrancis M. Fetsko, Executive VP, CFO & COOTompkins Financial Corporation (888) 503-5753

Business Wire

Tompkins Financial Corporation Reports Second Quarter Earnings

https://finance.yahoo.com/news/tompkins-financial-corporation-reports-second-130000126.html

82f5ef2d-19cd-37ca-9290-c59f9743c905

TMP

ITHACA, N.Y., July 21, 2023--(BUSINESS WIRE)--Tompkins Financial Corporation (NYSE American:TMP)Tompkins Financial Corporation announced today that its Board of Directors has authorized a new stock repurchase program of up to 400,000 shares of the Company's outstanding common stock, par value $0.10 per share. This program replaces the Company's existing 400,000 share repurchase program announced on October 22, 2021.The new stock repurchase program is expected to be completed over the next 24 months. The shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion in connection with its overall capital management strategies and will depend on a number of factors, including the market price of the Company's stock, general market and economic conditions, interest rates, financial forecasts, other strategic uses of capital, and applicable legal requirements. The Company has no obligation to repurchase any shares and may discontinue repurchases at any time.About Tompkins Financial CorporationTompkins Financial Corporation is a banking and financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Headquartered in Ithaca, NY, Tompkins Financial is parent to Tompkins Community Bank, Tompkins Insurance Agencies, Inc., and offers wealth management services through Tompkins Financial Advisors. For more information on Tompkins Financial, visit www.tompkinsfinancial.com."Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of such words as "may", "will", "estimate", "intend", "continue", "believe", "expect", "plan", or "anticipate", the negative and other variations of these terms and other similar words. This press release includes forward‑looking statements with respect to corporate plans and objectives. The Company assumes no duty, and specifically disclaims any obligation, to update forward‑looking statements, and cautions that these statements are subject to numerous assumptions, risks, and uncertainties, all of which could change over time. Actual results could differ materially from forward‑looking statements.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230721635834/en/ContactsStephen S. Romaine, President & CEOFrancis M. Fetsko, Executive VP, CFO & COOTompkins Financial Corporation (888) 503-5753

Business Wire

Tompkins Financial Corporation Announces Stock Repurchase Program

https://finance.yahoo.com/news/tompkins-financial-corporation-announces-stock-130000321.html

9b954c16-2431-3d9c-800c-385b2eb81306

TMPO

In this article, we will take a look at the 14 hot penny stocks on the move. To see more such companies, go directly to 5 Hot Penny Stocks On the Move.The US stock market enjoyed huge gains in 2023 first on the back of a tech rally that again pushed tech stock valuations to uneasy levels which also caused many analysts and experts to issue warnings on high valuations and unfounded market euphoria. Then, recently, the Federal Reserve’s fight against inflation started to show signs of success.  This led to several stocks making moves and gaining value.Nvidia's "Penny Stock Moment"Some major, stable companies earlier this year posted gains that surprised many and had analysts looking for the real catalysts behind these gains. For example, Kirkoswald Asset Management’s Diana Amoa, according to a report from Bloomberg, called the frenzy around NVIDIA Corp (NASDAQ:NVDA) shares a result of “FOMO.” The analyst said that markets “ don’t know what to do with equities.” Bloomberg called NVIDIA Corp (NASDAQ:NVDA)’s rise after its earnings in May a “penny stock” moment. NVIDIA Corp (NASDAQ:NVDA)’s gains came after the company gave a remarkable guidance on the back of expectations that the popularity of generative applications like ChatGPT would increase demand for NVIDIA Corp (NASDAQ:NVDA)’s chips which are often powering AI software applications.While Amoa reportedly acknowledged at the time that investors were piling into stocks they think are sustainable, she said that it was hard to say whether valuations were truly based on fundamentals. The analyst said part of the reason behind such huge stock gains was investors’ wish to not miss out on the winners.The same Bloomberg report also quoted JPMorgan Asset Management’s Phil Camporeale, who said at the time that overall it’s not a good idea to be underweight S&P 500. However, the analyst said at the time that he was advising people to invest in companies that can outlast the tough financial conditions as he believed “there is no way” the Fed would ease up on monetary policies “any time soon.” Time did prove Phil Camporeale’s claim as the Federal Reserve has been consistently raising interest rates and now investors are keenly looking at what the central bank’s move might be, especially after clear signs that inflation is declining in the US.Story continuesAs investors begin to open their wallets for risky bets amid the start of a bullish tide, penny stocks are gaining attention.  Every once in a while we hear in the news how some penny stock went big and surpassed all expectations, leaving investors only hoping that they’d have found this gem before it became famous. For example, a small penny-stock company called Cyberlux Corp. made news earlier this year when it received orders for special drones from the Pentagon to be used in the Russia-Ukraine war. While the stock has gone nowhere it’s always useful to keep in mind the importance of momentum in stock investing. That’s why in this article we will take a look at some penny stocks that are currently on the move. But why is it a good strategy to keep a check on stocks on the move?A 2010 research paper from AQR Research quoted a study which showed links between positive stock movement, growth rates and long-term growth prospects. Here’s what the paper said:“So, a firm that has a big positive shock to returns provides a signal to investors that the long-term growth prospects of the firm's cash flows have improved. Thus, the long-term expected return to the firm will also increase accordingly. This provides a positive relationship between the past return of the firm and its future long-term expected return or discount rate. In other words, momentum. Berk, Green, and Naik (1999) show that economic risk factors can have a persistent effect when firms face growth opportunities and this can give rise to momentum. In a similar model, Sagi and Seasholes (2007) argue that if the market value of the firm increases faster than the revenue of the firm, this will cause a link between growth rates and firm risk, giving rise to a momentum effect where past returns predict future expected returns due to risk.”Hot Penny Stocks On the MovePhoto by Ruben Sukatendel on Unsplash Our MethodologyFor this article, we simply used Yahoo Finance’s stock screener which listed the most active penny stocks as of August 5. The screener lists down penny stocks with the highest share price gains on a single day and high volumes. We sorted the screen based on stock price gains and picked the top 14 penny stocks with the biggest stock price gains and strong volumes.Hot Penny Stocks On the Move14. FBEC Worldwide, Inc. (NYSE:FBEC)Share Price Gains: 25%FBEC Worldwide, Inc. (NYSE:FBEC) is up about 25% as of the time of this writing on August 5. According to Yahoo Finance this penny stock’s volume as of August 5 stands at 9.76 million. FBEC Worldwide, Inc. (NYSE:FBEC) makes hemp based energy drinks.13. MineralRite Corporation (NYSE:RITE)Share Price Gains: 25%Ferndale, Washington-based MineralRite Corporation (NYSE:RITE) ranks 13th in our list of the hot penny stocks on the move. MineralRite Corporation (NYSE:RITE) is up about 25% as of August 5.Yahoo Finance’s data shows that MineralRite Corporation (NYSE:RITE)’s average volume over the past three months is 24 million.12. Capital Financial Global, Inc. (NYSE:CFGX)Share Price Gains: 25%Capital Financial Global, Inc. (NYSE:CFGX) has been making moves after it announced in July that it was able to increase its funding capacity due to its new strategic partnership with correspondent lender RCN Capital.Capital Financial Global, Inc. (NYSE:CFGX)’s volume as of August 5 was 30.19 million, according to Yahoo Finance.11. Digital Locations, Inc. (NYSE:DLOC)Share Price Gains: 28%5G internet and wireless communications company Digital Locations, Inc. (NYSE:DLOC) ranks 11th in our list of the hot penny stocks on the move. Digital Locations, Inc. (NYSE:DLOC) has gained about 28% as of August 5.10. Drone Guarder, Inc. (NYSE:DRNG)Share Price Gains: 35%Security and surveillance products company Drone Guarder, Inc. (NYSE:DRNG) is one of the hot penny stocks on the move. Drone Guarder, Inc. (NYSE:DRNG) is up about 35% as of August 5. Drone Guarder, Inc. (NYSE:DRNG)’s volume as of August 5 is over 9 million.9. Tupperware Brands Corporation (NYSE:TUP)Share Price Gains: 35%Kitchen products and storage containers company Tupperware Brands Corporation (NYSE:TUP) ranks 9th in our list of the hot penny stocks on the move.In its Q4 earnings call, Tupperware Brands Corporation (NYSE:TUP)’s management said the following about its 2023 outlook, and its business in China and Korea:“So we are carrying good momentum into 2023. While still small, B2B sales grew strongly in the double-digits in China last year despite difficult conditions out there and we look for another strong year in 2023. In fact, the number of our markets reporting B2B activity in 2022 was 22 markets. In total, we added 50 retail chain customers around the world. As you may imagine, selling products into retail chain is a very different proposition from operating a direct selling distribution model. As such, we are building a new consumer-facing company within our legacy direct-selling consumer push company. Perhaps, no better showcase for our growth strategy was the success we had in Korea last year. Korea is among the most advanced markets in the process of building an omni-channel ecosystem.In 2022, Korea surpassed Indonesia, our third largest market in the Asia Pacific region, behind China and Malaysia. In total, Korea grew 16% last year in constant currency as core sales increase in middle single-digits and B2B expansion, particularly in TV shopping added over 10 percentage points to growth. We are learning from this success and are sharing best practices in many markets around the world throughout this 2023. While it’s still early days, these initiatives help validate that our growth strategy to expand the consumer access to our products beyond the direction of distribution channel. Third, the new product introductions. We had many successful product introductions over the past couple of years that really gained traction last year.”8. Tempo Automation Holdings, Inc. (NASDAQ:TMPO)Share Price Gains: 49%Electronics company Tempo Automation Holdings, Inc. (NASDAQ:TMPO) ranks 8th in our list of the hot penny stocks on the move. In May Tempo Automation Holdings, Inc. (NASDAQ:TMPO) posted Q1 results. GAAP EPS in the period came in at -$0.28. Revenue in the quarter fell about 28% year over year to $2.8 million.For the full year Tempo Automation Holdings, Inc. (NASDAQ:TMPO) now expects its revenue to come in the range of $11.0 million to $13.0 million. Adjusted EBITDA in the period is expected to be negative $12.5 million to $10.5 million range.In March Tempo Automation Holdings, Inc. (NASDAQ:TMPO)  jumped after the company said it will acquire Optimum Design Associates, Inc. and Optimum Design Associates Pty. Ltd. Optimum Design makes circuit boards.Financial details of the deal were not disclosed.Insider Monkey’s database of 943 hedge funds shows that 7 hedge funds had stakes in Tempo Automation Holdings, Inc. (NASDAQ:TMPO).7. Fomo Worldwide, Inc. (NYSE:FOMC)Share Price Gains: 50%Fomo Worldwide, Inc. (NYSE:FOMC) offers business incubation services to emerging companies. Fomo Worldwide, Inc. (NYSE:FOMC) was up about 50% as of August 5. This penny stock’s volume stands at over 10 million as of August 5. Over the past three months its average volume is 21 million.6. BlackStar Enterprise Group, Inc. (NYSE:BEGI)Share Price Gains: 50%BlackStar Enterprise Group, Inc. (NYSE:BEGI) provides financial services, such as  merchant banking to crypto-equity companies and blockchain entrepreneurs for securities, tax, and commodity issues. BlackStar Enterprise Group, Inc. (NYSE:BEGI) ranks 6th in our list of the hot penny stocks on the move since it’s up 50% as of August 5.According to Yahoo Finance BlackStar Enterprise Group, Inc. (NYSE:BEGI)’s average volume over the past three months is about 28 million. As of August 5 BlackStar Enterprise Group, Inc. (NYSE:BEGI)’s volume is 40 million. Click to continue reading and see 5 Hot Penny Stocks On the Move. Suggested articles:10 Best EV, Battery and Autonomous Driving ETFs25 Most Health-Conscious States in the US10 Oversold Growth Stocks To BuyDisclosure: None. 14 Hot Penny Stocks On the Move is originally published on Insider Monkey.

Insider Monkey

14 Hot Penny Stocks On the Move

https://finance.yahoo.com/news/14-hot-penny-stocks-move-134527390.html

145c76dc-cce8-3096-907a-b4aa77fd9296

TMPO

Tempo Automation Holdings, Inc.SAN FRANCISCO, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, the “Company”), a leading software-accelerated electronics manufacturer, today announced that it had received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, because the Company has not yet filed its Form 10-Q for the period ended June 30, 2023 (the “Filing”), the Company no longer meets the requirements for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5250(c)(1) (the “Periodic Filing Rule”). The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities.In accordance with Nasdaq Listing Rule 5810(c)(2)(F), the Company will have 60 calendar days, or until October 16, 2023 (the “Plan Date”), to submit a plan to regain compliance with the Periodic Filing Rule (the “Plan”), and if Nasdaq accepts the Plan, Nasdaq can grant an exception of up to 180 calendar days from the Filing’s due date, or until February 12, 2024 (the “Compliance Date”), to regain compliance. Nasdaq will consider things such as the following when determining whether to accept the Plan: (i) the likelihood that the Filing, along with any subsequent periodic filing that will be due, can be made within the 180-calendar day period; (ii) the Company’s past compliance history; (iii) the reasons for the late Filing; (iv) other corporate events that may occur within Nasdaq’s review period; (v) the Company’s overall financial condition; and (vi) the Company’s public disclosures. If the Company submits the Plan, Nasdaq will review the Plan and provide the Company with written notice of its decision regarding whether to grant an exception.In the event that (i) the Company does not (a) submit the Plan by the Plan Date, or (b) regain compliance with the Periodic Filing Rule by the Compliance Date, or (ii) Nasdaq does not accept the Plan, the Company will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Company intends to consider available options to regain compliance with the Periodic Filing Rule. There can be no assurance that the Company will be able to submit the Plan by the Plan Date, or if it does, that Nasdaq will accept the Plan or that execution of the Plan will result in the Company successfully regaining compliance with the Periodic Filing Rule by the Compliance Date.About TempoTempo is a leading software-accelerated electronics manufacturer, transforming the way top companies innovate and bring new products to market. Tempo’s unique automated manufacturing platform optimizes the complex process of printed circuit board manufacturing to deliver unmatched quality, speed and agility. The platform’s all-digital process automation, data-driven intelligence, and connected smart factory create a distinctive competitive advantage for customers—to deliver tomorrow’s products today. From rockets to robots, autonomous cars to drones, many of the fastest-moving companies in industrial tech, medical technology, space, and other industries partner with Tempo to accelerate innovation and set a new tempo for progress. Learn more at www.tempoautomation.com.Forward-Looking StatementsThis press release includes information that constitutes 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. Words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “might”, “will”, “should”, “can have”, “likely” and similar expressions are used to identify forward-looking statements. These forward-looking statements are based on the Company’s current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. These factors include, without limitation, the Company's ability to timely and satisfactorily submit the Plan, the Company’s ability to respond in a timely and satisfactory manner to any additional inquiries by Nasdaq, the Company’s ability to regain compliance with the Periodic Filing Rule, the Company’s ability to become current with its reports with the Securities and Exchange Commission (the “SEC”), and the risk that the completion and filing of the Form 10-Q will take longer than expected. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to the Company’s filings with the SEC, including the risk factors contained in its most recent Annual Report on Form 10-K and the Company’s other subsequent filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.CONTACT: Contact: Investor Relations [email protected]

GlobeNewswire

Tempo Automation Receives Nasdaq Notification of Noncompliance with Listing Rule 5250(c)(1)

https://finance.yahoo.com/news/tempo-automation-receives-nasdaq-notification-093000129.html

61dcb0de-5500-34e8-a2e0-c578e17529da

TMQ

On September 5, 2023, Elaine Sanders, the Vice President and Chief Financial Officer of Trilogy Metals Inc (TMQ), sold 15,000 shares of the company. This move is part of a series of insider transactions that have taken place over the past year.Warning! GuruFocus has detected 1 Warning Sign with TMQ. Click here to check it out. TMQ 30-Year Financial DataThe intrinsic value of TMQElaine Sanders is a seasoned executive with extensive experience in the mining industry. As the VP and CFO of Trilogy Metals Inc, she plays a crucial role in the company's financial planning and strategic decision-making processes. Her insider trades, therefore, provide valuable insights into the company's financial health and future prospects.Trilogy Metals Inc is a base metals exploration company with a focus on advancing mining at the Upper Kobuk Mineral Projects in Alaska. The company is committed to environmentally responsible mining practices and aims to create significant value for its shareholders through the development of its high-quality, copper-dominant mineral resource properties.Over the past year, Elaine Sanders has sold a total of 70,000 shares and has not made any purchases. This recent sale of 15,000 shares is part of this larger trend. The insider transaction history for Trilogy Metals Inc shows a total of 2 insider buys and 4 insider sells over the past year.Insider Sell: Elaine Sanders Sells 15,000 Shares of Trilogy Metals IncThe insider's selling activities often provide a glimpse into the company's financial health. In this case, the consistent selling by the insider could be interpreted as a lack of confidence in the company's future prospects. However, it's also important to note that insiders may sell shares for reasons unrelated to the company's performance, such as personal financial planning or diversification.On the day of the insider's recent sale, shares of Trilogy Metals Inc were trading for $0.5 apiece, giving the stock a market cap of $77.6 million. Despite the insider's selling activities, the stock's price has remained relatively stable. This suggests that the market has not reacted strongly to the insider's transactions, possibly because they are viewed as personal decisions rather than reflections of the company's performance.In conclusion, while the insider's selling activities over the past year may raise some concerns, it's important to consider the broader context. The stock's stable price and the company's ongoing operations suggest that Trilogy Metals Inc remains a viable player in the mining industry. Investors should continue to monitor the insider's transactions and other relevant factors to make informed decisions.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: Elaine Sanders Sells 15,000 Shares of Trilogy Metals Inc

https://finance.yahoo.com/news/insider-sell-elaine-sanders-sells-170120366.html

595b10f5-844a-3c07-9fc9-b0ae1ef5a3ce

TMQ

VANCOUVER, BC, Sept. 7, 2023 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is pleased to announce recent research conducted with the assistance of the Colorado School of Mines (the "School") and the United States Geological Survey ("USGS") has highlighted the potential for germanium to be a by-product during future copper production from the South Reef area of the Bornite copper-cobalt project. Germanium is a critical element with increasing demand in modern technologies and significant supply risks. China, the world's largest producer of germanium, has adopted export controls intended to restrict the export of germanium, among other metals.Additionally, Ambler Metals LLC ("Ambler Metals"), the joint venture operating company owned equally by Trilogy and South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) ("South32"), will be providing samples to the School and the USGS to be used in their collaboration on critical minerals in the US. The Bornite project is part of Ambler Metals' Upper Kobuk Mineral Projects ("UKMP") in northwestern Alaska which also includes the flagship Arctic copper-zinc-lead-silver-gold project, and surrounding state mining claims and NANA Regional Corporation, Inc. ("NANA") lands.Bornite is located approximately 24 km southwest of the Arctic deposit that is envisioned to be served by the Ambler Access Road (see Figure 1). The Bornite deposit has a total Inferred resource of 6.5 billion pounds of copper (see Table 1). It is a carbonate-hosted copper deposit with stacked stratabound mineralized bodies or 'reefs' (see Figure 2) that include the near surface Lower and Upper Reefs, that together have an In-Pit Inferred resource of 170 million tonnes ("Mt") grading 1.14% copper (using a 0.5% copper cut-off) and the deeper and higher-grade Ruby Zone and South Reef area. South Reef has an Inferred resource of 22 Mt at 3.48% copper (using a 1.79% copper cut-off).Story continuesGermanium at South ReefGermanium values ranging from <1 to 125 ppm were measured in 84 core samples taken from five drill holes from South Reef as part of a recently completed Master of Science thesis done at the School. The samples, averaging 15 cm in length, were selected to establish the presence of germanium sulphides at South Reef. Due to the known association between copper sulphides and germanium seen by the USGS in the 1980s, higher copper grades (>5% copper) in the South Reef core were a key criteria in the sampling strategy. Although the samples represent only a small part of the South Reef area, the results clearly demonstrate that germanium is present at levels that are significantly higher than values obtained using a standard analytical method where a volatile germanium compound is lost during reaction with hydrochloric acid.Importantly, the thesis work confirms the close association between the germanium sulphide renierite (Cu10ZnGe2Fe4S16 to Cu11GeAsFe4S16) and copper sulphides, most commonly bornite and chalcocite (see Figure 3). In the 1980s, the USGS identified renierite and germanite (Cu13Ge2Fe2S16) in samples from the Ruby Zone occurring as discrete grains up to 75 microns across, embedded within grains of bornite. The close association with copper sulphides suggests the germanium sulphides will in part be recovered in the copper concentrate during flotation without special or additional processing.Tony Giardini, President and CEO of Trilogy, commented "We are excited about our ongoing collaboration with the USGS and the Colorado School of Mines. Germanium is an important metal with numerous applications, particularly in the manufacture of semiconductor chips, fiber-optic systems, and high efficiency solar cells. Prices for the high-value metal have steadily climbed to approximately $2,750 per kilogram, a 35% increase from January 2020. We believe this trend will continue due to China's recent export curb. It is imperative that other sources of germanium are developed. The most significant Western source is the Red Dog Mine in Alaska, operated by Teck Resources Limited in partnership with the land owner, NANA, which is approximately 320 km from the Ambler Mining District."Richard Gosse, VP Exploration of Trilogy, said "I would like to thank Alexander Jones for the research he did as part of his MSc thesis at the Colorado School of Mines on the distribution of germanium at the South Reef deposit, as well as his supervisor, Dr. Katharina Pfaff, Manager of the School's Mineral and Material Characterization Facility, and Dr. Garth Graham of the USGS for their oversight and assistance in the collection and subsequent studies. The high standard of their analytical work has highlighted the importance of germanium at Bornite and we look forward to contributing to their new project to better understand the availability of critical mineral resources in the US."Germanium at BorniteThe under-reporting of germanium using a standard analytical method was recognized by the Company in 2011. At that time, 50 mostly continuous core samples ranging from 0.65 to 3.34 meters were selected from four drill holes. Germanium values ranged from <1 to 83 ppm compared to a maximum value of 1.15 ppm using a standard analytical method. The best composite result obtained was 17.56 meters averaging 30 ppm germanium with 12.48% copper (see Table 2), part of a 176-meter drill intercept grading 4.01% copper in hole RC11-0187. Prior to this work, only six samples from Bornite are known to have been analyzed for germanium using sample preparation methods specifically for germanium. Including the samples used in the Jones thesis, it appears only 140 samples have been correctly analyzed for germanium in the 70+ years since the first hole was drilled at Bornite.Work has now started to accurately determine the amount and distribution of germanium at Bornite. Samples collected by Trilogy from Kennecott's pile of mineralization that was excavated during shaft sinking in the 1960s were recently analyzed at an ALS laboratory in Australia using an analytical method specialized to prevent the loss of the volatile germanium compound. The results confirm the loss of germanium using the standard four acid digest. In addition, Ambler Metals will soon begin re-analyzing 14 composite samples and their resulting concentrates obtained from metallurgical test work conducted in 2019 and 2021.Finally, Ambler Metals has recently accepted a proposal from the Center to Advance the Science of Exploration to Reclamation in Mining ("CASERM") at the School with leveraged USGS funding to contribute samples from Bornite to further investigate the occurrence, distribution, and sequestration of critical elements, including germanium, using a suite of micro-analytical methods such as SEM- and XRF-based techniques, electron probe micro analysis, and LA-ICP-MS. Objectives of the study include compiling a comprehensive whole-rock 60+ geochemical dataset of select samples from the Bornite deposit that complement the existing dataset from South Reef related to the MSc study. Additional sampling of mineralized core for the study is in progress.GermaniumVarious modern technologies, including infra-red systems used in thermal imaging applications such as night-vision goggles, as well as fiber optics, semiconductors, and solar panels, use germanium. About 130 tonnes of germanium are produced globally each year, up from 50-70 tonnes twenty years ago, primarily from zinc residues and fly ash (waste from the burning of coal), with China producing between 60-80%. Supply and price are largely determined by recovery processes, geopolitical and legislative factors, and environmental regulations.Estimates on the future demand for germanium vary widely and are largely based on different solar energy scenarios. Germanium is an essential component of solar photovoltaic cells that use amorphous silicon-germanium thin film technology. Future technologies that could also strongly affect demand are fiber optics and SiGe semiconductors used in 5G telecom and related infrastructure. For more information on the demand and uses of germanium, see the paper by Madhav Patel and Athanasios Karamalidis1.Copper and CobaltCopper mineralization at Bornite comprises chalcopyrite, bornite, and chalcocite as stringers, veinlets, and breccia fillings in hydrothermally altered dolostone within a sequence of alternating carbonates (limestones and dolostones) and calcareous phyllite. As with the other world-class carbonate-hosted copper deposits, such as at Kipushi (DR Congo) and Tsumeb (Namibia), Bornite shows early pyrite-dolomite alteration followed by copper-dominant sulphide mineralization with associated cobalt, germanium, silver, and zinc.Studies of cobalt mineralization at Bornite indicate that most of the cobalt occurs as cobaltiferous pyrite both within and enveloping the deposit. Cobalt is also present as two cobalt-bearing sulphides, carrollite and cobaltite, that are associated with the copper mineralization. The Bornite Technical Report (as defined below) on the Mineral Resource Update of the Bornite project includes representative drill hole intersections with cobalt grades showing drill holes within South Reef containing higher grades than drill holes in-pit.Critical Minerals and AlaskaCritical minerals such as copper, cobalt and germanium play an essential role in powering modern technologies, from renewable energy systems and electric vehicles to advanced electronics and national defense. Trilogy's management is confident that high-grade Alaskan mineral deposits such as Bornite can play an important role in securing a reliable supply of these materials, which are essential for the United States' economic competitiveness and national security.Copper, cobalt and germanium are included in the US Critical Materials list, which informs eligibility for tax credits for suppliers under the Inflation Reduction Act.Table 1. Mineral Resources for the Bornite Deposit.ClassType/AreaCut-off(Cu %)Tonnes(Mt)Average Copper Grade (%)Contained Copper (Mlb)InferredIn-Pit0.5170.41.154,303Outside-PitSouth Reef1.7922.03.481,690Outside-PitRuby Zone1.7910.42.28521Total Inferred (100%)202.71.466,514Total Inferred (50% Attributable Interest)101.33,257Notes: (1)The effective date of the mineral resource is January 26, 2023. The QP for the mineral resource is an employee of Wood Canada Limited.(2)Mineral Resources are prepared in accordance with CIM Definition Standards (2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (CIM, 2019).(3)Mineral resources are constrained by: an open pit shell at a cut-off grade of 0.5% Cu, with an average pit slope of 43 degrees; and underground mining shapes with a cut-off grade of 1.79% Cu. The cut-off grades include the considerations of a $4.05/lb Cu price, process recovery of 87.2%, open pit mining costs of $3.21/t mined, underground mining cost of $73.62/t mined, process cost of $19.14/t processed, G&A cost of $4.14/t processed, treatment, refining, sales cost of $0.73/lb Cu in concentrate, road use cost of $8.04/t processed, 2% NSR royalty. (4)Figures may not sum due to rounding.(5)See technical report titled "NI 43-101 Technical Report on the Mineral Resource Update of the      Bornite Project, Northwest Alaska, USA" with an effective date of January 26, 2023 and a release date of February 14, 2023 (the "Bornite Technical Report").Table 2. Significant composite intercepts of germanium from a 50-sample subset of reanalyzed 2011 drill core using standard and germanium-specific analytical methods. Composites were selected based on an approximate 10 ppm cut-off. HoleFrom (m)To (m)Width (m)Copper Grade (%)Germanium (ppm)Associated MineralogyRC11-0183323.74330.496.7524.4716bn-cp-pyRC11-0185173.74178.264.527.969bn-cp-pyRC11-0187458.79476.3517.5612.4830bn-cc-cp-pyRC11-0194756.53762.135.609.808bn-cc-cp-pyTable 3. 2011 drill hole locations, depths and orientations.HoleEastingNorthingElevationDepthAzimuthDipRC11-0183589401.67440451198.307359.36112.9-58.2RC11-0185589129.77439619255.592350.5286.3-52.4RC11-0187590273.57440008306.097714.75122.4-85.5RC11-0194590478.77440196265.651782.421.3-70.41 M. Patel & A. Karamalidis, Germanium: A review of its US demand, uses, resources, chemistry and separation technologies; in Separation and Purification Technology, Elsevier, 2021.QA/QC Program The drilling program, sampling and assaying protocol, and data verification for germanium completed during 2011 were managed by qualified persons (QPs) employed by NovaCopper Inc. The diamond drill holes were completed using HQ or NQ diameter core. Drill core was cut lengthwise into halves using a diamond saw; one-half was used for the assay sample and the other half retained in core boxes and archived at site. Samples were collected through mineralized zones using a 0.3 m minimum length and 3.1 m maximum length; median sample length is 2.6 m.Each core sample was placed into a bag with a numbered tag, and quality control samples were inserted between core samples using the same numbering sequence. The samples were grouped into batches for shipping and laboratory submissions. Each batch of 20 samples contains one certified reference material (CRM), one blank (BLK), and one crushed duplicate (DUP). Blank samples are commercial landscape marble. Duplicate samples were prepared at the sample preparation facility by taking a second split from the entire crushed sample. Chain of custody records were maintained for sample shipments and the custody was transferred upon delivery from NovaCopper expeditor to the laboratory.Samples were shipped to ALS Minerals laboratory in Fairbanks, Alaska, USA, for sample submission. ALS Minerals Fairbanks is a satellite sample preparation facility accredited under ALS Minerals. The ALS Minerals Fairbanks shipped the samples to ALS Minerals in Reno, Nevada, USA, for sample preparation and analysis. ALS Minerals is an independent laboratory certified under ISO 9001:2008 and accredited under ISO/IEC 17025:2005.  ALS Minerals includes its own internal quality control samples comprising certified reference materials, blanks, and pulp duplicates.Drill core samples were weighed, dried, coarsely crushed to 70% passing 6 mm, finely crushed to 70% passing 2 mm, riffle split to 250 g subsamples, and pulverized to 85% passing 75 μm. Gold analyses were completed using a 30 g lead fire assay and AAS finish (Au-AA23). Multi-element analyses for 48 elements were completed using a geochemical four acid digestion and ICP-ES/MS finish (ME-MS61m). Over-range assays for Ag, Cu, Zn, and S were completed using an ore grade four-acid digestion and ICP-ES finish (ME-OG62). Additional analyses were completed for Ba and Hg.Au, Ag, Cu, Pb, and Zn assays for QC samples were reviewed to ensure that CRMs are within tolerance limits specified on supplier certificates; BLKs are below acceptable thresholds; and DUPs display statistical patterns normally expected for sample types, methods, and elements.Samples submitted for germanium check analyses were analyzed at ALS Minerals by a three acid digestion (Ge-MS66), which comprises nitric-hydrofluoric-orthophosphoric acids specifically set up to avoid volatilization of germanium chloride that occurs with a conventional four acid digestion that comprises nitric-perchloric-hydrofluoric-hydrochloric acids.  Although external germanium CRMs were not included with the check samples, higher germanium values are more in-line with expectations based on mineralogy.Qualified PersonRichard Gosse, P.Geo., Vice President Exploration for Trilogy Metals Inc., is a Qualified Person as defined by National Instrument 43-101.  Mr. Gosse has reviewed the technical information in this news release and approves the disclosure contained herein.About Trilogy MetalsTrilogy Metals Inc. is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the Upper Kobuk Mineral Projects in northwestern Alaska. On December 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler Mining District – the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods.Cautionary Note Regarding Forward-Looking StatementsThis press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, perceived merit of properties, outcomes of studies and testwork, the amount and distribution of germanium at Bornite, the role and demand of critical minerals such as copper, cobalt, germanium and deposits such as Bornite, and the Company's plans to conduct further studies, provide further updates and the timing thereof are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the uncertainties involving our ability to conserve cash and to raise capital at terms favorable to the Company, or at all and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2022 filed with Canadian securities regulatory authorities and with the United States Securities and Exchange Commission and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.CisionView original content:https://www.prnewswire.com/news-releases/trilogy-metals-announces-potential-for-by-product-germanium-at-the-bornite-copper-cobalt-project-alaska-301919948.htmlSOURCE Trilogy Metals Inc.CisionView original content: http://www.newswire.ca/en/releases/archive/September2023/07/c3330.html

CNW Group

Trilogy Metals Announces Potential for By-product Germanium at the Bornite Copper-Cobalt Project, Alaska

https://finance.yahoo.com/news/trilogy-metals-announces-potential-product-103000440.html

41df6375-cfcf-37e5-8fc9-e4e4ec200303

TMUS

T-Mobile (NASDAQ: TMUS) is finally going to start paying dividends. The wireless company added a cash payment as part of its capital return program. While its payout will pale in comparison to the big-time yields offered by rivals Verizon (NYSE: VZ) and AT&T (NYSE: T), dividend-focused investors shouldn't dismiss T-Mobile's dividend.Continue reading

Motley Fool

Income Alert: Investors Have Another New (and Potentially Brilliant) Dividend Stock to Consider

https://finance.yahoo.com/m/1523cf1a-b783-37f8-b0c3-90cee722b184/income-alert-investors-have.html

1523cf1a-b783-37f8-b0c3-90cee722b184

TMUS

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

TNET

DUBLIN, Calif., Sept. 6, 2023 /PRNewswire/ -- TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), today announced additional speakers for TriNet PeopleForce 2023 including several TriNet customers that were featured in its latest People Matter advertising campaign, Talkspace CEO Jon Cohen M.D., and Entrepreneur Magazine's Editor-in-Chief Jason Feifer.TriNet Announces Additional Speakers for TriNet PeopleForce 2023The three-day, award-winning conference taking place September 12-14 will feature acclaimed leaders from the worlds of business, sports, technology, science, social justice, entertainment, media and more. The event will take place live from The Theater at City Tech in downtown Brooklyn, New York—and virtually from anywhere.The latest speakers added to TriNet PeopleForce 2023 include:Dr. Brook Parker-Bello – Founder & CEO, More Too LifeJaime Robinson – Founder & CEO, JOAN CreativeLisa Clunie – Founder & Co-CEO, JOAN CreativeDr. Harvey Karp – Founder & CEO, Happiest BabyDr John R. Adler – Founder & CEO, Zap Surgical SystemsJose A. Quinonez – Founder & CEO, Mission Asset FundJon Cohen, M.D. – CEO of Talkspace, and author of Swab: Leadership in the Race to Provide Covid Testing to AmericaJason Feifer – Editor-in-Chief of Entrepreneur MagazineAmong the previously announced speakers are Michael Phelps, World Champion, 23-time Gold Medalist & founder of the Michael Phelps Foundation; Goldie Hawn, Academy Award-winning actress, and Founder and CEO of MindUP; Ryan Reynolds, Multi-Faceted Entrepreneur, Ashley Judd Global Humanitarian, and Pulitzer Prize-winning investigative reporter Ronan Farrow.With People for People as the program's theme, TriNet PeopleForce 2023 will explore a broad range of topics, including AI, the capital environment, healthcare, mental health, employee satisfaction and more. In addition to live interviews and performances on the main stage, attendees will have access to break-out sessions with tailored, interactive content.Story continuesRegistration and complete list of speakers can be found at PeopleForce.TriNet.com.For a look at TriNet PeopleForce 2022, visit: Rise | Empowered by TriNetAbout TriNetTriNet (NYSE: TNET) provides small and medium-size businesses (SMBs) with full-service industry-specific HR solutions, providing both professional employer organization (PEO) and human resources information system (HRIS) services. TriNet offers access to human capital expertise, benefits, risk mitigation, compliance, payroll, and R&D tax credit services, all enabled by industry-leading technology. TriNet's suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, benefits, employee engagement, payroll and time & attendance. Rooted in more than 30 years of supporting entrepreneurs and adapting to the ever-changing modern workplace, TriNet empowers SMBs to focus on what matters most—growing their business and enabling their people. For more information, visit TriNet.com or follow us on Twitter, Facebook, LinkedIn and Instagram.Investors:        Media:Alex Bauer        Renee Brotherton/Josh GrossTriNet                        [email protected]        [email protected]@TriNet.comCisionView original content to download multimedia:https://www.prnewswire.com/news-releases/trinet-announces-additional-speakers-for-trinet-peopleforce-2023-including-six-trinet-customers-more-too-life-joan-creative-happiest-baby-zap-surgical-systems-mission-asset-fund-and-talkspace-301919155.htmlSOURCE TriNet Group, Inc.

PR Newswire

TriNet Announces Additional Speakers for TriNet PeopleForce 2023 Including Six TriNet Customers More Too Life, JOAN Creative, Happiest Baby, Zap Surgical Systems, Mission Asset Fund, and Talkspace

https://finance.yahoo.com/news/trinet-announces-additional-speakers-trinet-131500796.html

1a14c70e-25e4-39e3-9cc1-e4fd5b37e455

TNET

DUBLIN, Calif., Sept. 7, 2023 /PRNewswire/ -- TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), today announced the entertainment line-up for TriNet PeopleForce 2023, which includes Tony Award-winning Broadway performer Myles Frost, country-music singer-songwriter Lauren Davidson, and the magical and inspiring Mzansi Youth Choir.Tony Award-Winner Myles Frost, Country Music Artist Lauren Davidson, and South Africa’s Mzansi Youth Choir to Perform at TriNet PeopleForce 2023The three-day, award-winning conference, taking place September 12-14, will feature acclaimed leaders from the worlds of business, sports, technology, science, social justice, entertainment, media and more. The event will take place live from The Theater at City Tech in downtown Brooklyn, New York—and virtually from anywhere.TriNet PeopleForce 2023 will feature performances by the following artists:Myles Frost – Winner of the 2022 Tony Award for Best Leading Actor in a Musical for his performance in MJ The MusicalLauren Davidson – Country Music Association (CMA) Artist & Grammy Recording Academy MemberMzansi Youth Choir – South African Youth Performance Choir, America's Got Talent season 18 finalist"We are looking forward to incredible performances by these amazing and highly talented artists at PeopleForce this year," said Michael Mendenhall, SVP, CMO and CCO at TriNet. "Not only do they complement our theme and tremendous roster of speakers, but each of these artists is truly inspirational—and it will be an honor to hear them."Among the previously announced speakers are Michael Phelps, World Champion, 23-time Gold Medalist and founder of the Michael Phelps Foundation; Goldie Hawn, Academy Award-winning actress, and Founder and CEO of MindUP; Ryan Reynolds, Multi-Faceted Entrepreneur, Ashley Judd Global Humanitarian, and Pulitzer Prize-winning investigative reporter Ronan Farrow.Registration and complete list of speakers can be found at PeopleForce.TriNet.com.Story continuesFor a look at TriNet PeopleForce 2022, visit: Rise | Empowered by TriNetAbout TriNetTriNet (NYSE: TNET) provides small and medium-size businesses (SMBs) with full-service industry-specific HR solutions, providing both professional employer organization (PEO) and human resources information system (HRIS) services. TriNet offers access to human capital expertise, benefits, risk mitigation, compliance, payroll, and R&D tax credit services, all enabled by industry-leading technology. TriNet's suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, benefits, employee engagement, payroll and time & attendance. Rooted in more than 30 years of supporting entrepreneurs and adapting to the ever-changing modern workplace, TriNet empowers SMBs to focus on what matters most—growing their business and enabling their people. For more information, visit TriNet.com or follow us on Twitter, Facebook, LinkedIn and Instagram.Investors:        Media:Alex Bauer        Renee Brotherton/Josh GrossTriNet                        [email protected]        [email protected]@TriNet.comTriNet and the TriNet logo are registered trademarks of TriNet. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/tony-award-winner-myles-frost-country-music-artist-lauren-davidson-and-south-africas-mzansi-youth-choir-to-perform-at-trinet-peopleforce-2023-301921333.htmlSOURCE TriNet Group, Inc.

PR Newswire

Tony Award-Winner Myles Frost, Country Music Artist Lauren Davidson, and South Africa's Mzansi Youth Choir to Perform at TriNet PeopleForce 2023

https://finance.yahoo.com/news/tony-award-winner-myles-frost-203000849.html

ecab5373-9606-3118-b6e4-3a57f41b2ed9

TNON

~ The new kit provides for a lower profile access portal designed to enhance stability, and tools for improved graft handling ~~ Matthew T Davies, MD and team from Lakewalk Surgery Center successfully perform first cases in Duluth, MN ~LOS GATOS, CA / ACCESSWIRE / September 6, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced completion of the first patients treated with the Company's newly released JIB Instrument Kit. Matthew T. Davies, MD, a board-certified Neurosurgeon from Orthopedic Associates in Duluth, Minnesota successfully treated the first three patients with the JIB kit at Lakewalk Surgery Center on August 31, 2023. Dr. Davies is a recognized leader in the diagnosis and treatment of the SI Joint, utilizing innovative minimally invasive SI Joint fusion procedures to treat painful SI Joint dysfunction and degenerative sacroiliitis. He has performed more than 300 SI Joint fusion procedures and recently incorporated the Catamaran implant into his SI Joint fusion treatment algorithm.The JIB Kit is a next generation instrument set utilized to implant the Company's Catamaran Fixation Device during a SI Joint fusion procedure. The JIB Kit is used with the current Catamaran instrument tray for accessing the implant site, implant delivery, and expediting bone graft removal and insertion into the Catamaran implant. The JIB Kit incorporates physician feedback gained from early surgeries and provides a lower profile access portal designed to enhance stability, and tools for improved graft handling."Stabilizing the joint and ultimately fusing it is the optimal outcome in relieving pain for patients with painful SI joint disorders. The Catamaran's ability to transfix the SI joint along its longitudinal axis, coupled with a surgical approach that optimizes the opportunity to fuse the joint truly differentiates it from other SI implants," states Matthew Davies, MD. "The addition of the new, lower profile access portal and improved graft handling tools to the Catamaran System are all positive upgrades that should continue to enhance the ease of use of the Catamaran implant. The opportunity to maximize our minimally invasive techniques with a lower profile and more efficient instrumentation is a positive for myself and my SI joint patients."Story continues"We are excited with the initial use of our new Catamaran JIB Kit by Dr. Davies and his team at Lakewalk Surgery Center," commented Steven M. Foster, President and CEO of Tenon Medical. "The Tenon Medical organization is fortunate to have Dr. Davies and other key physician advisors who are willing to work closely with our team. This ongoing collaboration is focused on the continued enhancement of our technology and associated techniques as we seek to deliver optimal outcomes for our physician customers and their patients. We are very pleased with the traction we are getting with the Catamaran System as more and more physicians seek a procedure and technology that offers the best chance of successfully stabilizing and fusing the SI joint long term for their patients suffering with SI joint pain."It is estimated that over 30 million American adults suffer from chronic lower back pain and that a significant percentage of these cases include an SI Joint disruption component. The SI joints are located between the iliac bones and the sacrum, connecting the spine to the hips. Caused most frequently by trauma or degeneration, pain from the SI Joint often goes misdiagnosed. Published clinical studies have shown that 15% to 30% of all chronic lower back pain is associated with the SI Joint.About Tenon Medical, Inc.Tenon Medical, Inc., a medical device company formed in 2012, has developed The Catamaran&trade; SI Joint Fusion System that offers a novel, less invasive approach to the SI joint using a single, robust titanium implant. The system features the Catamaran&trade; Fixation Device which passes through both the axial and sagittal planes of the ilium and sacrum, stabilizing and transfixing the SI Joint along its longitudinal axis. The angle and trajectory of the Catamaran surgical approach is also designed to provide a pathway away from critical neural and vascular structures and into the strongest cortical bone. Since the national launch of the Catamaran SI Joint Fusion System in October 2022 Tenon is focused on three commercial opportunities with its System in the SI Joint market which includes: 1) Primary SI Joint procedures, 2) Revision procedures of failed SI Joint implants and 3) SI Joint fusion adjunct to a spine fusion construct. For more information, please visit https://www.tenonmed.com/.The Tenon Medical logo and Tenon Medical are registered trademarks of Tenon Medical, Inc. Catamaran is a trademark of Tenon Medical, Inc.Safe HarborThis press release contains "forward-looking statements," which are statements related to events, results, activities or developments that Tenon expects, believes or anticipates will or may occur in the future. Forward-looking often contains words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versions thereof. Such statements are based on Tenon's experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances, and speak only as of the date made. Forward-looking statements are inherently uncertain and actual results may differ materially from assumptions, estimates or expectations reflected or contained in the forward-looking statements as a result of various factors. For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, please review our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 on file with the Securities and Exchange Commission at www.sec.gov, particularly the information contained in the section entitled "Risk Factors". We undertake no obligation to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise unless required by law.IR Contact:Shannon Devine: 203-741-8811MZ North [email protected]: Tenon Medical, Inc.View source version on accesswire.com: https://www.accesswire.com/780808/tenon-medicalr-announces-first-patients-treated-with-new-jib-instrument-kit-for-companys-catamaranr-si-joint-fusion-system

ACCESSWIRE

Tenon Medical(R) Announces First Patients Treated with New JIB Instrument Kit for Company’s Catamaran(R) SI Joint Fusion System

https://finance.yahoo.com/news/tenon-medical-r-announces-first-110000065.html

519ee332-5980-3150-ace8-c8d8ccc7765c

TNON

Tenon Medical Announces Proposed Public Offering of Common StockLOS GATOS, CA / ACCESSWIRE / September 8, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that it has commenced a public offering of shares of its common stock (the "Offering"). All of the shares of common stock are being offered by Tenon. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.Maxim Group LLC is acting as the sole placement agent for the offering.The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-271648) previously filed with the U.S. Securities and Exchange Commission ("SEC") and declared effective on May 17, 2023. The shares may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the public offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. When available, copies of the preliminary prospectus supplement and accompanying prospectus relating to the public offering may also be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at [email protected]. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus, together with the information incorporated therein, for more complete information about Beam and the proposed offering. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.Story continuesAbout Tenon Medical, Inc.Tenon Medical, Inc., a medical device company formed in 2012, has developed The Catamaran&reg; SI Joint Fusion System that offers a novel, less invasive approach to the SI joint using a single, robust titanium implant. The system features the Catamaran&reg; Fixation Device which passes through both the axial and sagittal planes of the ilium and sacrum, stabilizing and transfixing the SI Joint along its longitudinal axis. The angle and trajectory of the Catamaran surgical approach is also designed to provide a pathway away from critical neural and vascular structures and into the strongest cortical bone. Since the national launch of the Catamaran SI Joint Fusion System in October 2022 Tenon is focused on three commercial opportunities with its System in the SI Joint market which includes: 1) Primary SI Joint procedures, 2) Revision procedures of failed SI Joint implants and 3) SI Joint fusion adjunct to a spine fusion construct. For more information, please visit https://www.tenonmed.com/.The Tenon Medical logo, Tenon Medical and Catamaran are registered trademarks of Tenon Medical, Inc.Safe HarborThis press release contains "forward-looking statements," which are statements related to events, results, activities or developments that Tenon expects, believes or anticipates will or may occur in the future. Forward-looking often contains words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versions thereof. Such statements are based on Tenon's experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances, and speak only as of the date made. Forward-looking statements are inherently uncertain and actual results may differ materially from assumptions, estimates or expectations reflected or contained in the forward-looking statements as a result of various factors. For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, please review our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 on file with the Securities and Exchange Commission at www.sec.gov, particularly the information contained in the section entitled "Risk Factors". We undertake no obligation to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise unless required by law.IR Contact:Shannon Devine: 203-741-8811MZ North [email protected]: Tenon Medical, Inc.View source version on accesswire.com: https://www.accesswire.com/782329/tenon-medical-announces-proposed-public-offering-of-common-stock

ACCESSWIRE

Tenon Medical Announces Proposed Public Offering of Common Stock

https://finance.yahoo.com/news/tenon-medical-announces-proposed-public-204000472.html

d999ffd2-988b-33e7-833c-8b7b86d9b512

TOI

Toi Management, LLCCERRITOS, Calif., Aug. 08, 2023 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI) (“TOI” or the “Company”), one of the largest value-based community oncology groups in the United States, today reported financial results for its three and six months ended June 30, 2023 and reaffirmed its full year 2023 guidance.Recent Operational Highlights:Completed the acquisition of Southland Radiation Oncology Network (“SRON”)Signed a new partnership with Massive Bio to further enhance randomization of trialsIncreased patient visits 14% compared to the prior year quarterIncreased oral drugs dispensed 38% compared to the prior year quarterSecond Quarter 2023 Financial HighlightsConsolidated revenue of $80 million, an increase of 32% compared to the prior year quarterGross profit of $15 million, an increase of 36% compared to the prior year quarter, and gross margin of 18.8%, an increase from 18.3% the prior year quarterNet loss of $16.9 million compared to net loss of $5.5 million for the prior year quarterBasic and diluted (loss) earnings per share of $(0.19) and $(0.19), respectively, compared to $(0.06) and $(0.06), respectively, for the prior year quarterAdjusted EBITDA of $(6.9) million compared to $(6.9) million for the prior year quarterCash, cash equivalents, and investments of $98 million as of June 30, 2023Management CommentaryDaniel Virnich, CEO of TOI, commented, "I am very pleased with our strong performance in the second quarter of 2023, as we delivered 32% topline growth and expanded our gross margin. Fee-for-service and oral drug revenue performed better than we expected and organic growth was robust in both established and expansion markets. We formed two new strategic partnerships during the quarter and acquired SRON to expand our presence in the Greater Los Angeles market. As we look toward the balance of the year, we are reaffirming our 2023 guidance given the momentum in our business and our optimism that we can execute against our strategic initiatives.   Longer term, we are confident in our ability to achieve sustainable growth and deliver even greater value to our patients, partners and other key stakeholders.”Story continuesReaffirmed Outlook for Fiscal Year 2023TOI uses Adjusted EBITDA, a non-GAAP metric, as an additional tool to assess its operational performance. See "Financial Information: Non-GAAP Financial Measures" below. In reliance on the unreasonable efforts exception for forward-looking information provided under Regulation S-K, TOI is not reasonably able to provide a quantitative reconciliation of Adjusted EBITDA to net (loss) income, the most directly comparable GAAP financial measure, without unreasonable efforts due to uncertainties regarding taxes, share-based compensation, goodwill impairment charges, change in fair value of liabilities, unrealized (gains) losses on investments, practice acquisition-related costs, consulting and legal fees, transaction costs and other non-cash items. The variability of these items could have an unpredictable, and potentially significant, impact on TOI’s future GAAP financial results. TOI expects interest expense in the range of $4 million to $5 million, other adjustment add backs in the range of $2 million to $4 million, and depreciation and amortization in the range of $4 million to $6 million. TOI is not adding back new clinic startup or acquisition costs for this non-GAAP metric.2023 Guidance - ReaffirmedRevenue$290 to $320 million, representing approximately 15% to 27% growth over 2022 revenueGross Profit$60 to $70 millionAdjusted EBITDA$(25) to $(28) millionValue-based lives(1)1.75 million to 2.0 million lives(1) Represents lives under capitation contracts.TOI's achievement of the anticipated results is subject to risks and uncertainties, including those disclosed in its filings with the U.S. Securities and Exchange Commission. The outlook does not take into account the impact of any unanticipated developments in the business or changes in the operating environment, nor does it take into account the impact of TOI's acquisitions, dispositions or financings during 2023. TOI's outlook assumes a largely reopened global market, which would be negatively impacted if closures or other restrictive measures persist or are reimplemented.Second Quarter 2023 Results (for the three months ended June 30, 2023)Consolidated revenue for Q2 2023 was $80 million, an increase of 31.7% compared to Q2 2022, and a 5.3% increase compared to Q1 2023.Revenue for patient services was $53 million, up 36.6% compared to Q2 2022. Growth in patient services revenue was driven by an increase in fee-for-service ("FFS") revenue due to practice acquisitions and an overall increase in clinic count. Dispensary revenue increased 24.6% compared to Q2 2022 due to an increase in the number of filled prescriptions, offset by a slight decrease in the average revenue per filled prescription. Clinical trials & other revenue increased by 0.5% compared to Q2 2022 primarily due to an increase in California Proposition 56 revenue and TOI Clinical Research revenue.Gross profit in Q2 2023 was $15 million, an increase of 35.7% compared to Q2 2022. The increase was primarily driven by improved cost management of oral and IV drugs and enhanced rebate opportunities. Gross profit is calculated by subtracting direct costs of patient services, dispensary, and clinical trials and other from consolidated revenues.Selling, general and administrative ("SG&A") expenses in Q2 2023 were $29 million or 35.8% of revenue, compared with $28 million, or 46.5% of revenue, in Q2 2022. During Q2 2023, share-based compensation expense was $4 million. The remainder of the increase in SG&A expenses was due to headcount and other costs associated with operating as a public company and supporting revenue growth and expansion into new markets.Net loss for Q2 2023 was $16.9 million, an increase of $11 million in net loss compared to Q2 2022 primarily due to a $10.8 million decrease in the change in fair value of earnout liabilities. Adjusted EBITDA was $(6.9) million in Q2 2023 and Q2 2022.First Half 2023 Results (for the six months ended June 30, 2023)Consolidated revenue for the first half of 2023 was $156 million, an increase of 34.7% compared to the first half of 2022. Revenue for patient services the first half of 2023 was $104 million, up 39.8% compared to the first half of 2022. Growth in patient services revenue was driven by an increase in FFS revenue due to practice acquisitions and an overall increase in clinic count. Dispensary revenue increased 27.1% compared to the first half of 2022 due to an increase in the number of filled prescriptions, offset by a slight decrease in the average revenue per filled prescription. Clinical trials & other revenue increased by 8.7% compared to the first half of 2022 primarily due to an increase in California Proposition 56 revenue and TOI Clinical Research revenue.Gross profit in the first half of 2023 was $29 million, an increase of 24.5% compared to the first half of 2022. The increase was primarily driven by improved cost management of oral and IV drugs and enhanced rebate opportunities. Gross profit is calculated by subtracting direct costs of patient services, dispensary, and clinical trials and other from consolidated revenues.SG&A expenses in the first half of 2023 were $58 million or 36.8% of revenue, compared with $58 million, or 50.1% of revenue, in the first half of 2022. During the first half of 2023, share-based compensation expense was $9 million compared to $15 million for the same period of 2022.Net loss for the first half of 2023 was $47 million, a decrease of $61 million in income compared to the first half of 2022 primarily due to a $46 million decrease in the change in fair value of earnout liabilities, as well as a goodwill impairment charge of $17 million in the first half of 2023 that did not occur in the same period of 2022. Adjusted EBITDA was $(14) million, a decrease of $2 million compared to the first half of 2022.Webcast and Conference CallTOI will host a conference call and webcast on Tuesday, August 8, 2023 at 5:00 p.m. (Eastern Time) to discuss second quarter results.The conference call can be accessed live over the phone by dialing 1-877-407-0789, or for international callers, 1-201-689-8562. A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the live call and the replay is 13739395. The replay will be available until August 15, 2023.Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of TOI's website at https://investors.theoncologyinstitute.com.About The Oncology Institute, Inc. Founded in 2007, TOI is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of approximately 1.8 million patients including clinical trials, transfusions, and other services traditionally associated with the most advanced care delivery organizations. With 100+ employed clinicians and more than 700 teammates in over 67 clinic locations and growing, TOI is changing oncology for the better. For more information visit www.theoncologyinstitute.com.Forward-Looking StatementsThis press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “preliminary,” “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “predict,” “potential,” “guidance,” “approximately,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, anticipated financial results, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations. These statements are based on various assumptions and on the current expectations of TOI and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by anyone as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of TOI. These forward-looking statements are subject to a number of risks and uncertainties, including the accuracy of the assumptions underlying the 2023 outlook discussed herein, the outcome of judicial and administrative proceedings to which TOI may become a party or governmental investigations to which TOI may become subject that could interrupt or limit TOI’s operations, result in adverse judgments, settlements or fines and create negative publicity; changes in TOI’s clients’ preferences, prospects and the competitive conditions prevailing in the healthcare sector; failure to continue to meet, or to cure any deficiency with respect to, stock exchange listing standards; the impact of COVID-19 on TOI’s business; those factors discussed in the documents of TOI filed, or to be filed, with the SEC, including the Item 1A. "Risk Factors" section of TOI's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 16, 2023 and any subsequent Current Reports on Form 8-K. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that TOI does not presently know or that TOI currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect TOI’s plans or forecasts of future events and views as of the date of this press release. TOI anticipates that subsequent events and developments will cause TOI’s assessments to change. TOI does not undertake any obligation to update any of these forward-looking statements. These forward-looking statements should not be relied upon as representing TOI’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.Financial Information; Non-GAAP Financial MeasuresSome of the financial information and data contained in this press release, such as Adjusted EBITDA, have not been prepared in accordance with United States generally accepted accounting principles (“GAAP”). TOI believes that the use of Adjusted EBITDA provides an additional tool to assess operational performance and trends in, and in comparing our financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors. TOI’s non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial measures determined in accordance with GAAP. The principal limitation of Adjusted EBITDA is that it excludes significant expenses and income that are required by GAAP to be recorded in TOI's financial statements. Because of the limitations of non-GAAP financial measures, you should consider the non-GAAP financial measures presented in this press release in conjunction with TOI’s financial statements and the related notes thereto.TOI defines Adjusted EBITDA as net (loss) income plus depreciation, amortization, net interest expense, income taxes, non-cash addbacks, share-based compensation, goodwill impairment charges, changes in fair value of liabilities, unrealized gains or losses on investments and other adjustments to add-back the following: consulting and legal fees related to acquisitions, deferred consideration payment for practice acquisition, one-time consulting and legal fees related to certain advisory projects, software implementations and debt or equity financings, severance expense and temporary labor and recruiting charges to build out our corporate infrastructure. A reconciliation of Adjusted EBITDA to net (loss) income, the most comparable GAAP metric, is set forth below.Adjusted EBITDA Reconciliation Three Months Ended June 30, Change(dollars in thousands) 2023   2022  $ %Net (loss) income$(16,897) $(5,453) $(11,444) 209.9%Depreciation and amortization 1,329   1,098   231  21.0%Interest expense, net 1,638   61   1,577  2,585.2%Income tax expense (benefit) 99   (32)  131  (409.4)%Non-cash addbacks(1) 24   108   (84) (77.8)%Share-based compensation 4,107   6,514   (2,407) (37.0)%Changes in fair value of liabilities (135)  (12,865)  12,730  (99.0)%Unrealized (gains) losses on investments 267   —   267  N/APractice acquisition-related costs(2) 55   111   (56) (50.5)%Post-combination compensation expense(3) 581   —   581  N/AConsulting and legal fees(4) 929   1,144   (215) (18.8)%Infrastructure and workforce costs(5) 1,042   1,634   (592) (36.2)%Transaction costs(6) 20   750   (730) (97.3)%Adjusted EBITDA$(6,941) $(6,930) $(11) 0.2%(1) During the three months ended June 30, 2023, non-cash addbacks were primarily comprised of non-cash rent of $27 and net reversal of bad debt recovery of $2. During the three months ended June 30, 2022, non-cash addbacks were primarily comprised of reversals of bad debt recoveries of $105 and non-cash rent of $3.(2) Practice acquisition-related costs were comprised of consulting and legal fees incurred to perform due diligence, execute, and integrate acquisitions of various oncology practices.(3) Deferred consideration payments for practice acquisitions that are contingent upon the seller’s future employment at the Company.(4) Consulting and legal fees were comprised of a subset of the Company’s total consulting and legal fees, and related to certain advisory projects during the three months ended June 30, 2023. During the three months ended June 30, 2022, these fees related to advisory projects, software implementations, and legal fees for debt financing and predecessor litigation matters.(5) Infrastructure and workforce costs were comprised of recruiting expenses to build out corporate infrastructure of $430 and $1,207, software implementation fees of $22 and $31, severance expenses resulting from cost rationalization programs of $250 and $67, and temporary labor of $339 and $329 during the three months ended June 30, 2023 and 2022, respectively.(6) Transaction costs incurred during the three months ended June 30, 2022 were comprised of consulting, legal, administrative and regulatory fees associated with the Business Combination. Six Months Ended June 30, Change(dollars in thousands) 2023   2022  $ %Net (loss) income$(46,895) $13,833  $(60,728) (439.0)%Depreciation and amortization 2,598   2,085   513  24.6%Interest expense, net 3,081   135   2,946  2,182.2%Income tax expense (benefit) 143   148   (5) (3.4)%Non-cash addbacks(1) 165   305   (140) (45.9)%Share-based compensation 9,072   15,067   (5,995) (39.8)%Goodwill impairment charges 16,867   —   16,867  N/AChanges in fair value of liabilities (4,348)  (50,844)  46,496  (91.4)%Unrealized (gains) losses on investments 124   —   124  N/APractice acquisition-related costs(2) 71   533   (462) (86.7)%Post-combination compensation expense(3) 1,163   —   1,163  N/AConsulting and legal fees(4) 1,514   1,799   (285) (15.8)%Infrastructure and workforce costs(5) 2,116   2,587   (471) (18.2)%Transaction costs(6) 28   2,194   (2,166) (98.7)%Adjusted EBITDA$(14,301) $(12,158) $(2,143) 17.6%(1) During the six months ended June 30, 2023, non-cash addbacks were primarily comprised of non-cash rent of $167 and net reversal of bad debt recovery of $1. During the six months ended June 30, 2022, non-cash addbacks were primarily comprised of net credit losses of $259 and non-cash rent of $32.(2) Practice acquisition-related costs were comprised of consulting and legal fees incurred to perform due diligence, execute, and integrate acquisitions of various oncology practices.(3) Deferred consideration payments for practice acquisitions that are contingent upon the seller’s future employment at the Company.(4) Consulting and legal fees were comprised of a subset of the Company’s total consulting and legal fees, and related to certain advisory projects during the six months ended June 30, 2023. During the six months ended June 30, 2022, these fees related to advisory projects, software implementations, and legal fees for debt financing and predecessor litigation matters.(5) Infrastructure and workforce costs were comprised of recruiting expenses to build out corporate infrastructure of $892 and $1,631, software implementation fees of $52 and $57, severance expenses resulting from cost rationalization programs of $265 and $85, and temporary labor of $907 and $814 during the six months ended June 30, 2023 and 2022, respectively.(6) Transaction costs incurred during the six months ended June 30, 2022 were comprised of consulting, legal, administrative and regulatory fees associated with the Business Combination.Key Business Metrics Three Months Ended June 30, Six Months Ended June 30,  2023   2022   2023   2022 Clinics(1) 81   69   81   69 Markets 15   13   15   13 Lives under value-based contracts (millions) 1.8   1.7   1.8   1.7 Net (loss) income$(16,897) $(5,453) $(46,895) $13,833 Adjusted EBITDA (in thousands)$(6,941) $(6,930) $(14,301) $(12,158)(1)  Includes independent oncology practices to which we provide limited management services, but do not bear the operating costs.Consolidated Balance Sheets (Unaudited)(in thousands except share data) June 30, 2023 December 31, 2022Assets   Current assets:   Cash and cash equivalents$28,892  $14,010 Marketable securities 10,291   59,796 Accounts receivable, net 46,394   39,816 Other receivables 499   617 Inventories, net 12,168   9,261 Prepaid expenses 5,827   6,918 Total current assets 104,071   130,418 Non-current investments 58,944   58,354 Property and equipment, net 10,772   8,547 Operating right of use assets 29,041   24,494 Intangible assets, net 19,344   17,957 Goodwill 7,230   21,418 Other assets 557   477 Total assets$229,959  $261,665 Liabilities and stockholders’ equity   Current liabilities:   Accounts payable$13,123  $9,372 Current portion of operating lease liabilities 6,001   5,498 Income taxes payable 256   255 Accrued expenses and other current liabilities 14,126   14,595 Total current liabilities 33,506   29,720 Operating lease liabilities 26,647   22,060 Derivative warrant liabilities 89   350 Derivative earnout liabilities 34   803 Conversion option derivative liabilities 642   3,960 Long-term debt, net of unamortized debt issuance costs 83,688   80,621 Other non-current liabilities 553   868 Deferred income taxes liability 78   108 Total liabilities 145,237   138,490 Stockholders’ equity:   Common Stock, $0.0001 par value, authorized 500,000,000 shares; 74,548,216 shares issued and 72,955,088 shares outstanding at June 30, 2023 and 73,265,621 shares issued and outstanding at December 31, 2022 7   7 Series A Convertible Preferred Stock, $0.0001 par value, authorized 10,000,000 shares; 165,045 shares issued and outstanding at June 30, 2023 and December 31, 2022 —   — Additional paid-in capital 195,586   186,250 Treasury Stock, 1,593,128 and 0 shares at June 30, 2023 and December 31, 2022 (894)  — Accumulated deficit (109,977)  (63,082)Total stockholders’ equity 84,722   123,175 Total liabilities and stockholders’ equity$229,959  $261,665 Consolidated Statements of Operations (Unaudited)(in thousands except share data) Three Months Ended June 30, Six Months Ended June 30,  2023   2022   2023   2022 Revenue       Patient services$53,426  $39,109  $103,699  $74,166 Dispensary 25,196   20,218   49,436   38,897 Clinical trials & other 1,602   1,594   3,281   3,019 Total operating revenue 80,224   60,921   156,416   116,082 Operating expenses       Direct costs – patient services 44,878   32,875   87,692   60,253 Direct costs – dispensary 20,111   16,754   39,256   32,078 Direct costs – clinical trials & other 118   150   252   287 Goodwill impairment charges —   —   16,867   — Selling, general and administrative expense 28,726   28,348   57,556   58,154 Depreciation and amortization 1,329   1,098   2,598   2,085 Total operating expenses 95,162   79,225   204,221   152,857 Loss from operations (14,938)  (18,304)  (47,805)  (36,775)Other non-operating expense (income)       Interest expense 2,672   61   5,322   135 Interest income (1,034)  —   (2,241)  — Change in fair value of derivative warrant liabilities (118)  (2,065)  (261)  (604)Change in fair value of earnout liabilities (17)  (10,800)  (769)  (50,240)Change in fair value of conversion option derivative liabilities —   —   (3,318)  — Gain on loan forgiveness —   —   —   (183)Other, net 357   (15)  214   136 Total other non-operating income (loss) 1,860   (12,819)  (1,053)  (50,756)(Loss) income before provision for income taxes (16,798)  (5,485)  (46,752)  13,981 Income tax expense (99)  32   (143)  (148)Net income (loss)$(16,897) $(5,453) $(46,895) $13,833 Net income (loss) per share attributable to common stockholders:       Basic$(0.19) $(0.06) $(0.52) $0.15 Diluted$(0.19) $(0.06) $(0.52) $0.15 Weighted-average number of shares outstanding:       Basic 74,119,910   72,996,836   73,786,374   73,123,895 Diluted 74,119,910   72,996,836   73,786,374   76,106,201 Consolidated Statements of Cash Flows (Unaudited)(in thousands) Six Months Ended June 30,  2023   2022 Cash flows from operating activities:   Net (loss) income$(46,895) $13,833 Adjustments to reconcile net (loss) income to cash and cash equivalents used in operating activities:Depreciation and amortization 2,598   2,085 Amortization of debt issuance costs 3,067   — Goodwill impairment charges 16,867   — Share-based compensation 9,072   15,067 Change in fair value of liability classified warrants (261)  (604)Change in fair value of liability classified earnouts (769)  (50,240)Change in fair value of liability classified conversion option derivatives (3,318)  — Realized loss on sale of investments 11   — Unrealized loss on investments 113   — Accretion of discount on investment securities (1,589)  — Deferred taxes (30)  131 Gain on loan forgiveness —   (183)Credit losses (2)  259 Loss on disposal of property and equipment —   14 Changes in operating assets and liabilities:Accounts receivable (6,576)  (9,200)Inventories (2,907)  (1,733)Other receivables 118   815 Prepaid expenses 1,091   1,152 Operating lease right-of-use assets 3,125   2,191 Other assets (80)  (86)Accrued expenses and other current liabilities 1,350   2,562 Income taxes payable 1   — Accounts payable 3,751   (1,658)Current and long-term operating lease liabilities (2,529)  (1,767)Other non-current liabilities (320)  2 Net cash and cash equivalents used in operating activities (24,112)  (27,360)Cash flows from investing activities:   Purchases of property and equipment (2,776)  (2,344)Cash paid for practice acquisitions (4,300)  (8,920)Purchases of marketable securities/investments (9,747)  — Sales of marketable securities/investments 60,127   — Net cash and cash equivalents provided by (used in) investing activities 43,304   (11,264)Cash flows from financing activities:   Payments made for financing of insurance payments (2,576)  (2,481)Payment of deferred consideration liability for acquisition (759)  (759)Principal payments on financing leases (81)  (26)Common stock repurchase from related party (894)  (9,000)Common stock issued for options exercised —   337 Taxes for common stock net settled —   (413)Net cash, cash equivalents, and restricted cash used in financing activities (4,310)  (12,342)Net increase (decrease) in cash and cash equivalents 14,882   (50,966)Cash and cash equivalents at beginning of period 14,010   115,174 Cash and cash equivalents at end of period$28,892  $64,208 ContactsMediaThe Oncology Institute, Inc.Daniel Virnich, [email protected] (562) 735-3226 x 81125ReviveMichael [email protected] (615) 760-4542InvestorsSolebury Strategic Communications [email protected]

GlobeNewswire

The Oncology Institute Reports Second Quarter 2023 Financial Results and Reaffirms Full Year 2023 Guidance

https://finance.yahoo.com/news/oncology-institute-reports-second-quarter-204000564.html

ffca2e30-d1a7-3701-bb5c-5696d835d7c3

TOI

Toi Management, LLCCERRITOS, Calif., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Ambience Healthcare, a market leader in generative AI technology for clinical documentation, workflows, and patient experience, and The Oncology Institute (TOI), a premier provider of cutting-edge cancer care, are announcing a landmark agreement to implement a new AI operating system for oncology care.“The average oncologist spends as much as two thirds of their time in the EHR. That’s time that our clinicians could otherwise be spending with patients,” reflects Dr. Yale D. Podnos, M.D., MPH, FACS, Chief Medical Officer of The Oncology Institute. “Given the complexity of oncology care, it’s mission critical for our clinicians to be fully present with patients and their families during the visit.”To address these challenges, Ambience Healthcare has developed a suite of generative AI products that enable a human-centered, value-based approach to care delivery.“With Ambience’s technology automatically capturing clinical conversations and producing documentation in real-time, our oncologists will no longer need to multitask within the EHR during a visit. Instead, they will be fully engaged with the patient and their caregivers,” shared Dr. Podnos. “After each visit, patients and their families will also have access to highly personalized educational materials and care plans generated in real-time, titrated to their level of health literacy, and translated into their preferred language. After careful evaluation of the generative AI ecosystem, we felt that Ambience’s platform was the only clinical documentation solution on the market with the technology maturity required to meet the complexity of our care model and the diversity of our population.”We believe this agreement between Ambience Healthcare and The Oncology Institute represents the first national-scale rollout of generative AI technology to support oncology care delivery in the United States.About Ambience HealthcareAmbience Healthcare’s mission is to supercharge healthcare providers with breakthrough generative AI technology. Ambience’s products are currently leveraged by leading provider organizations and health systems across North America to reduce documentation burden, alleviate provider burnout, and improve care quality. Founded in 2020 by Mike Ng and Nikhil Buduma, Ambience is headquartered in San Francisco, California, and backed by Andreessen Horowitz, OpenAI Startup Fund, Human Capital, Kleiner Perkins, Martin Ventures, AIX Ventures, AirTree Ventures, John Doerr, Jeff Dean, Richard Socher, Pieter Abbeel, Anne Wojcicki, Eren Bali, Jay Desai, Nish Bhat, Matt Mochary, and others. To learn more, visit ambiencehealthcare.com.Story continuesAbout The Oncology InstituteFounded in 2007, The Oncology Institute of Hope and Innovation (TOI) is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of more than 1.8 million patients including clinical trials, transfusions, and other care delivery models traditionally associated with the most advanced care delivery organizations. With 100+ employed clinicians and more than 800 teammates in over 65 clinic locations and growing, TOI is changing oncology for the better. For more information visit www.theoncologyinstitute.com.ContactsInvestorsSolebury Strategic Communications [email protected]

GlobeNewswire

Ambience Healthcare and The Oncology Institute (TOI) Partner to Create a Best-in-Class Oncology Experience for Patients and Clinicians, Leveraging Breakthrough Generative AI Technology

https://finance.yahoo.com/news/ambience-healthcare-oncology-institute-toi-121000271.html

20abaa69-11da-3826-979a-cf719757e141

TOL

Toll Brothers, Inc.Two professionally decorated model homes now available for toursNorthbrooke by Toll BrothersToll Brothers Northbrooke community is now open in Forsyth County, Georgia with two professionally decorated model homesCUMMING, Ga., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced the highly anticipated opening of the Company’s Northbrooke community, offering single-family, ranch-style homes in Forsyth County, Georgia. Home buyers are invited to visit the Toll Brothers Sales Center and tour two professionally decorated model homes at 6230 Wallace Farms Drive in Cumming.Northbrooke is a premier community offering expansive, open-concept floor plans priced from the mid-$600,000s. Homes include versatile living spaces with 2 to 4 bedrooms, 2 to 3.5 baths, 2- to 3.5-car garages plus indoor/outdoor living features and an array of personalization options.Northbrooke by Toll BrothersHomeowners will enjoy an amenity-rich resort lifestyle, low-maintenance living, and a convenient location that is easily accessible to Route 400 and Highway 369. A future onsite community clubhouse will offer pickleball courts, a fire pit, pavilion, playground, community garden, and more.“At our new Northbrooke community, idyllic living meets modern convenience in the heart of Forsyth County,” said Eric White, Division President of Toll Brothers in Atlanta. “Our collection of ranch-style homes, nestled amidst lush greenery, offers open-concept elegance and top-tier personalization options, creating a private haven that is perfect for every lifestyle.”Toll Brothers Juneau Elite and Ivywood Elite model homes are now open for tours, providing home buyers with a glimpse into life at Northbrooke. Meticulously designed and professionally decorated, these homes reflect the Toll Brothers commitment to quality, craftsmanship, and style.Home buyers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows home buyers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.Story continuesFor more information on Northbrooke and Toll Brothers communities throughout Georgia, call 888-686-5542 or visit TollBrothers.com/GA.About Toll Brothers Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 56 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.Toll Brothers was named the #1 Home Builder in Fortune magazine’s 2023 survey of the World’s Most Admired Companies®, the eighth year it has been so honored. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.    ©2023 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of, Toll Brothers.Contact: Andrea Meck | Toll Brothers, Director, Public Relations & Social Media | 215-938-8169 | [email protected] photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fc38b704-b7f7-415b-848e-6f746058b72aSent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

GlobeNewswire

Toll Brothers Announces the Opening of Northbrooke in Forsyth County, Georgia

https://finance.yahoo.com/news/toll-brothers-announces-opening-northbrooke-155500633.html

173e3aa5-f853-386d-b62b-545f0499e90a

TOL

Toll Brothers, Inc.Toll Brothers Preserve at Folsom RanchSales are opening in Toll Brothers’ newest luxury home community, Preserve at Folsom Ranch, in California.Toll Brothers Preserve at Folsom Ranch“We are thrilled to bring our highly anticipated Preserve at Folsom Ranch community to the Sacramento area,” said Scott Esping, Division President of Toll Brothers in Sacramento.FOLSOM, Calif., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced its highly anticipated luxury new home community, Preserve at Folsom Ranch, is opening in the desirable Folsom area of Sacramento, California. The interest list is currently forming, and the community is scheduled to open for sale this Saturday, September 9, 2023.Preserve at Folsom Ranch features two impressive collections of luxury single and two-story homes in the new Folsom Ranch master plan. The Heritage Trails Collection offers spacious floor plans ranging from 2,500 to 3,700+ square feet with 4 to 5 bedrooms, 3.5 to 5.5 baths, and 2- or 3-car garages. The Oak Trails Collection boasts two-story home designs ranging from 2,900 to 3,300+ square feet with 4 to 5 bedrooms, 3.5 to 4.5 baths, and 2- or 3-car garages. Home buyers at Preserve at Folsom Ranch can choose from a stunning array of personalization options, including multi-paneled stacking doors, primary suite decks, and indoor and outdoor fireplaces. Each collection is built with the outstanding quality, craftsmanship, and value for which Toll Brothers is known.Toll Brothers Preserve at Folsom Ranch“We are thrilled to bring our highly anticipated Preserve at Folsom Ranch community to the Sacramento area,” said Scott Esping, Division President of Toll Brothers in Sacramento. “This exclusive Toll Brothers new home community offers an ideal blend of luxury living and natural beauty, with two impressive collections of single- and two-story homes. We look forward to welcoming residents to this beautiful community and helping them create their dream home.”Preserve at Folsom Ranch offers residents the perfect blend of natural beauty and urban convenience. Nestled amongst oak trees and scenic trails, this exclusive Toll Brothers new home community is located in the heart of Folsom, just minutes away from a variety of shopping, dining, entertainment options, and within the Folsom Cordova Unified School District. Residents can enjoy the tranquil surroundings of tree-lined open spaces, natural creeks and streams, and miles of meandering trails and bikeways right outside their doors. Homeowners can also take advantage of the city’s many amenities including the Folsom Historic Downtown District, Folsom Lake and State Park, CSUS Aquatic Center, Folsom Public Library, Folsom Lake College, Mercy Hospital, Folsom Sports Complex, and more.Story continuesHome buyers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows home buyers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.Additional Toll Brothers new home communities in the Sacramento area include Regency at Folsom Ranch and Hidden Ridge.For more information on Preserve at Folsom Ranch and Toll Brothers communities throughout California, call 844-849-5263 or visit TollBrothers.com/CA.Toll Brothers Preserve at Folsom RanchAbout Toll Brothers Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 56 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.Toll Brothers was named the #1 Home Builder in Fortune magazine’s 2023 survey of the World’s Most Admired Companies®, the eighth year it has been so honored. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.©2023 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of, Toll Brothers.Contact: Andrea Meck | Toll Brothers, Director, Public Relations & Social Media | 215-938-8169 | [email protected] accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/b8361c5c-f694-4a39-bd92-e4275ea35673https://www.globenewswire.com/NewsRoom/AttachmentNg/4cb76576-1ada-4a6a-ba3d-08a5898a7b8fSent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

GlobeNewswire

Toll Brothers Announces New Luxury Home Community in Folsom, California

https://finance.yahoo.com/news/toll-brothers-announces-luxury-home-181900838.html

37a6ed57-e0b0-3531-8481-30c5574b0e57

TOON

Kartoon StudiosAI-Enhanced Art Available Exclusively to Kartoon Studios’ Shareholders of Record on June 26, 2023, the Company’s First Day Trading on the NYSE AmericanLimited-Edition Digital ArtworkAvailable exclusively to shareholders of recordBEVERLY HILLS, Calif., Aug. 15, 2023 (GLOBE NEWSWIRE) -- Kartoon Studios (NYSE American:TOON) announces its will provide an exclusive piece of AI-enhanced, digital art featuring characters from its library of animated content, to its shareholders of record on June 26, 2023, the Company’s first day trading on the NYSE under its new ticker “TOON”.Formerly known as Genius Brands International, Inc., the company changed its name to Kartoon Studios, when transitioning to the NYSE. Commemorating the milestone event and the numerous shareholders that were present to support the company, Kartoon Studios has created an exclusive piece of digital art featuring characters from its popular animated programming, including Warren Buffett’s Secret Millionaires Club, co-created by and starring Warren Buffett; Shaq’s Garage, starring Shaquille O’Neal; Llama Llama for Netflix, starring Jennifer Garner; and Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger; and Rainbow Rangers.Available exclusively to shareholders of recordAll shareholders of record on June 26, 2023, may request the digital download. Each piece of art will be annotated with a limited-edition number. To request the digital download, send an email request to [email protected] the Company builds its assets of timeless and positive animated IP for children, it wishes to show its appreciation to shareholders during this transition into its next phase of growth, trading on NYSE. Kartoon Studios is offering a digital piece of collectible artwork featuring its most popular characters in a format that showcases the Company’s commitment to creating high-quality, cutting-edge entertainment for the global marketplace.The certificate is for commemorative purposes only and has no cash value.About Kartoon Studios Kartoon Studios (NYSE AMERICAN: TOON) is a global end-to-end creator, producer, distributor, marketer, and licensor of entertainment brands. The Company’s IP portfolio includes original animated content, including the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq’s Garage, starring Shaquille O’Neal, on Kartoon Channel!, and a broad distribution platform, Rainbow Rangers on Kartoon Channel! and Netflix; the Netflix Original, Llama Llama, starring Jennifer Garner, and more.Story continuesIn 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media and made a strategic investment becoming the largest shareholder in Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s leading distributors and broadcasters of high-quality programs for children and families.The company’s wholly owned digital distribution network, Toon Media Group, consists of Kartoon Channel!, Kartoon Channel! Worldwide, Frederator Network, and Ameba. Kartoon Channel! is a globally distributed entertainment platform with full penetration of the U.S. television market and international expansion underway with launches in key markets around the world, including Germany, India, Australia, New Zealand, South Africa & Sub-Sahara Africa and more. Kartoon Channel! and Ameba are available across multiple platforms, including Apple iOS, Apple TV, Android Mobile, Android TVWeb, Amazon Prime Video, Amazon Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Tubi, Xumo, Samsung and LG Smart TVs, and YouTube. Frederator Network owns and operates the largest global animation network on YouTube, with channels featuring over 2000 exclusive creators and influencers, garnering on average over a billion views every month.For additional information, please visit www.kartoonstudios.com.Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes 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, our ability to generate revenue or achieve profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of a significant number of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period; general economic and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology; competitive pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party production and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products; our ability to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set forth in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.MEDIA CONTACT :[email protected] RELATIONS CONTACT :                                                                        [email protected] photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0d771a3-4667-4ca6-a7e4-0f48e2594ee6

GlobeNewswire

Kartoon Studios Creates Limited-Edition Digital Artwork Commemorating Transition to the New York Stock Exchange

https://finance.yahoo.com/news/kartoon-studios-creates-limited-edition-130000502.html

ca0aaa64-a2ad-328d-b0c1-d2655a9c1614

TOON

VANCOUVER, British Columbia, September 08, 2023--(BUSINESS WIRE)--In a significant move reinforcing its commitment to innovative digital publishing, Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) ("Legible" / "Company") is pleased to announce that it has been selected by Kartoon Studios, Inc. ("Kartoon Studios") (NYSE AMERICAN: TOON) to publish and distribute in web and print Stan Lee's Workforce, created by Stan Lee himself, the legendary co-creator of Spider-Man, The Avengers, X-Men, and many other blockbuster franchises.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230908226130/en/Kill Switch - Stan Lee's Workforce (Graphic: Business Wire)This deal expands Legible’s existing partnership with Kartoon Studios and further positions the Company as an emerging global publisher, with a growing catalogue of high-revenue content for its upcoming online Unbound membership service, as well as expansion of Legible’s print publishing arm.Jon Ollwerther, Executive Vice President of Business Development at Kartoon Studios, commented, "Legible is a consummate partner to Kartoon Studios and as the publisher of Stan Lee Comics Legible already has deep knowledge of Stan Lee and his catalogue. They were the obvious choice to bring Stan Lee’s Workforce to readers around the world."The news follows the recent announcement that Stan Lee Universe (a joint venture between Kartoon Studios and POW!) selected Legible as a leading online eBook streaming platform and multimedia publisher to develop and distribute approximately 12 original comic book series based on never-before-seen Stan Lee creations. Legible subsequently appointed Stan Lee colleagues and aficionados, Batman Executive Producer Michael Uslan and his film industry innovator son David Uslan, as strategic advisors, and the Uslans’ insights and leadership in these initiatives will be invaluable as these dynamic and compelling projects unfold.Story continues"Legible is the perfect partner for this creative digital innovation and will bring so much entertainment to existing and new Stan Lee fans worldwide," said Michael Uslan. "Stan would have been so excited about this project as we amplify and grow his remarkable legacy to include a whole new generation."Kaleeg Hainsworth, CEO of Legible, stated, "We are honoured and thrilled to become the exclusive global publisher and distributor for this high-profile project. Legible is emerging as a major new publisher with high-value content. Stan Lee co-created unforgettable characters that are globally loved, and we look forward to making his extraordinary work accessible to fans new and old around the world by delivering next-generation multimedia enriched reading experiences."About Stan LeeStan Lee is one of the most prolific and legendary comic creators of all time. As Marvel's editor-in-chief, Stan "The Man" Lee helped create and build a universe of interlocking continuity, one where fans felt as if they could turn a street corner and run into a superhero from Spider-Man to the Fantastic Four, Thor, Iron Man, the Hulk, the X-Men, and more.Stan went on to become Marvel’s editorial director and publisher in 1972, and was eventually named chairman emeritus. Among Stan’s many awards is the National Medal of Arts, awarded by President Bush in 2008, and the Disney Legends Award, received in 2017. He was also inducted into the comic industry’s Will Eisner Award Hall of Fame and Jack Kirby Hall of Fame.About Kartoon StudiosKartoon Studios (NYSE AMERICAN: TOON) is a global end-to-end creator, producer, distributor, marketer, and licensor of entertainment brands. The Company’s IP portfolio includes original animated content, including the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq’s Garage, starring Shaquille O’Neal, on Kartoon Channel!, and a broad distribution platform, Rainbow Rangers, on Kartoon Channel! and Netflix; the Netflix Original, Llama Llama, starring Jennifer Garner, and more.In 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media and made a strategic investment becoming the largest shareholder in Germany’s Your Family Entertainment AG (FRA: RTV), one of Europe’s leading distributors and broadcasters of high-quality programs for children and families.The company’s wholly-owned digital distribution network, Toon Media Group, consists of Kartoon Channel!, Kartoon Channel! Worldwide, Frederator Network, and Ameba. Kartoon Channel! is a globally distributed entertainment platform with full penetration of the U.S. television market and international expansion underway with launches in key markets around the world, including Germany, India, Australia, New Zealand, Africa & Sub-Saharan Africa and more.Kartoon Channel! and Ameba are available across multiple platforms, including Apple iOS, Apple TV, Android Mobile, Android TVWeb, Amazon Prime Video, Amazon Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Tubi, Xumo, Samsung and LG Smart TVs, and YouTube. Frederator Network owns and operates the largest global animation network on YouTube, with channels featuring over 2000 exclusive creators and influencers, garnering on average over a billion views every month.For additional information, please visit www.kartoonstudios.comAbout Legible Inc.Legible Inc. is a book entertainment and media company with a mission: millions of books for billions of readers, globally. Legible provides innovative eReading experiences to anyone anywhere with an internet-enabled device. Legible has developed multiple high-value verticals: a browser-based, mobile-first B2C eBook entertainment platform delivering a global online bookstore, streaming about 2 million eBooks in a reading system for the emerging web with high-growth potential called Legible.com; and a global B2B eBook conversion and production service with high revenue potential called Legible Publishing. Legible is transforming the digital publishing industry and gaining market share through innovative, 21st century publishing and global reading experiences, and embraces core values of sustainability, accessibility, and global literacy.Please visit Legible.com and discover the place where eBooks come to life.Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes 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, our ability to generate revenue or achieve profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of a significant number of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period; general economic and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology; competitive pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party production and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products; our ability to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set forth in the "Risk Factors" section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings with the Securities and Exchange Commission (the SEC). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908226130/en/ContactsKARTOON STUDIOS MEDIA: [email protected] STUDIOS INVESTOR RELATIONS: [email protected] MEDIA AND IR:Deborah Harford EVP, Global Strategic Partnerships Email: [email protected] Website: https://invest.legible.com

Business Wire

Legible Secures Worldwide Rights to Stan Lee's Workforce in Landmark Deal With Kartoon Studios

https://finance.yahoo.com/news/legible-secures-worldwide-rights-stan-123000243.html

e7d41b12-16c5-37ef-aba5-ddfb447a6641

TOVX

Theriva Biologics, Inc.- Initiated dosing at U.S. sites for VIRAGE, the Phase 2b clinical trial of VCN-01 in combination with chemotherapy for Pancreatic Ductal Adenocarcinoma-Second doses of intravenous VCN-01 administered to patients in Spain and were well tolerated with a safety profile consistent with prior clinical trials - -VIRAGE remains on track to complete enrollment in the first quarter of 2024-- VCN-01 granted Orphan Drug Designation by the U.S. FDA for the treatment of pancreatic cancer –- Ramon Alemany, Ph.D., appointed as Senior Vice President of Discovery, strengthening the collaboration with the Institut Catala d’Oncologia (ICO) and the Biomedical Research Institute of Bellvitge (IDIBELL)--As of June 30, 2023, Theriva Biologics reports $34.2 million in cash, which is expected to provide runway into the fourth quarter of 2024--Conference call and webcast to be held on Tuesday, August 8th at 8:30 a.m. ET -ROCKVILLE, Md., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Theriva™ Biologics (NYSE American: TOVX), a diversified clinical-stage company developing therapeutics designed to treat cancer and related diseases in areas of high unmet need, today reported financial results for the second quarter ended June 30, 2023, and provided a corporate update.“We are pleased by the continued progress in the first half of 2023 and look forward to executing on key priorities for our a systemically administered oncolytic adenovirus and lead program, VCN-01, in key indications and therapeutic combinations,” said Steven A. Shallcross, Chief Executive Officer of Theriva Biologics. “Notably, we have initiated dosing at U.S. sites for VIRAGE, the Phase 2b trial of VCN-01 in patients with newly-diagnosed metastatic pancreatic ductal adenocarcinoma (PDAC). Dosing in Spain initiated in January 2023 and the first patients have now received their second doses of intravenous VCN-01, which were well tolerated with safety profile consistent with prior clinical trials. VIRAGE remains on track to complete enrollment in the first quarter of 2024. Reaching this critical milestone adds to the strong momentum for the trial and we are further encouraged by the FDA’s decision to grant orphan drug designation to VCN-01 for patients with pancreatic cancer, for which there is an urgent need for new treatment options.”Story continuesMr. Shallcross continued, “We are encouraged by the growing clinical data that underscores VCN-01’s multi-modal mechanism of action, alone or in combination with chemotherapy and immunotherapy products. At the upcoming annual ESMO Congress in Madrid, investigators will present survival data from the ongoing study of VCN-01 in combination with durvalumab in patients with recurrent/metastatic squamous cell carcinoma of the head and neck, which will provide the first clinical insights into the feasibility of combining VCN-01 with an immune checkpoint inhibitor. These results build on the impressive safety, biochemical and mechanistic data presented last year, demonstrating that VCN-01 improved tumor immunogenicity in previously immunotherapy refractory patients. In parallel, we look forward to upcoming discussions with regulatory agencies planned in the second half of 2023 to discuss the development pathway for VCN-01 as an adjunct to chemotherapy in pediatric patients with advanced retinoblastoma. Further, as we continue to explore the potentially broad synergistic clinical benefit of VCN-01, we remain committed to pursuing new oncolytic virus candidates to leverage our novel Albumin Shield technology, which has tremendous potential for our pipeline.”Recent Program Highlights and Anticipated Milestones:VCN-01:Dosing is underway and enrollment continues to progress for VIRAGE, the randomized, controlled, multicenter, open-label Phase 2b trial of VCN-01 in combination with standard-of-care chemotherapy (gemcitabine/nab-paclitaxel) as a first line therapy in newly diagnosed metastatic PDAC patients. Initiated dosing at U.S sites following the initiation of dosing in Spain in January 2023. The first patients in Spain have now received their second doses of intravenous VCN-01, which were well tolerated with safety profile consistent with prior clinical trials. The trial is expected to enroll 92 patients and, remains on track to complete enrollment (Q1 2024).The U.S. Food and Drug Administration (FDA) has granted orphan drug designation to VCN-01 for the treatment of pancreatic cancer. Previously, the FDA granted orphan drug designation to VCN-01 for treatment of retinoblastoma.The University of Pennsylvania presented initial data from two ovarian cancer patients and one pancreatic cancer patient in their investigator sponsored study combining VCN-01 with huCART-meso cells. The presentation at the Cellicon Valley conference on Thursday 22 June 2023 demonstrated the feasibility of administering VCN-01 with huCART-meso cells and provided evidence of persistence for both VCN-01 and CAR T-cells, supporting the potential opportunity for VCN-01 in combination with immunotherapy products to treat solid tumors.Dosing is underway and screening is on-going for the investigator sponsored clinical trial of VCN-01 in patients with high-grade brain tumors who are scheduled for surgical resection. The first patient was dosed in January 2023 and the trial is being conducted at St. James’s University Hospital, United Kingdom, in collaboration with the University of Leeds. If the results show that intravenous VCN-01 gains entry to brain tumors that are otherwise only accessible through surgery, this could be transformative for patients by providing a potential systemic line of treatment.Additional anticipated milestones:Presentation of data from a Phase 1 investigator-sponsored study evaluating VCN-01 in combination with durvalumab for patients with recurrent/ metastatic squamous cell carcinoma of the head and neck (R/M HNSCC) at the ESMO Congress being held in Madrid, Spain from October 20-24, 2023.The Company intends to meet with the FDA (H2 2023) to discuss the clinical development and potential registration pathway for VCN-01 as an adjunct to chemotherapy in pediatric patients with advanced retinoblastoma.SYN-004 (ribaxamase):Dosing is underway for the ongoing Phase 1b/2a randomized, double-blinded, placebo-controlled clinical trial of SYN-004 (ribaxamase) in allogeneic hematopoietic cell transplant (HCT) recipients for the prevention of acute graft-versus-host-disease (aGVHD). SYN-004 appeared to be well tolerated in HCT patients treated with IV meropenem and SYN-004 was not detected in blood samples from the majority of the evaluable patients. The trial is on track to complete the second cohort (Q1 2024)Corporate Updates:In May 2023, appointed Ramon Alemany, Ph.D., to Senior Vice President of Discovery. In addition to overseeing Theriva’s discovery and development pipeline, Dr. Alemany continues to serve as Chair of the Scientific Advisory Board.Dr. Alemany is Head of the Immunotherapy and Virotherapy Group at the ProCURE Program of the Catalan Insitute of Oncology (ICO) and the Oncobell Program of the Biomedical Research Institute of Bellvitge (IDIBELL). Dr. Alemany’s laboratory has developed unique oncolytic adenoviruses that are highly selective for replication in tumor cells, with modifications for tumor-targeting, tumor stroma degradation, evasion of neutralizing antibodies, and promotion of tumor immunogenicity.Second Quarter Ended June 30, 2023 Financial ResultsGeneral and administrative expenses increased to $2.7 million for the three months ended June 30, 2023, from $1.5 million for the three months ended June 30, 2022. This increase of 80% is primarily comprised of increased expense related to the fair value of the contingent consideration adjustment of $0.9 million, along with higher audit fees, consulting fees, travel, and VCN administrative expenses not included in the prior year, offset by a decrease in legal costs related to the VCN acquisition. The charge related to stock-based compensation expense was $106,000 for the three months ended June 30,2023, compared to $86,000 for the three months ended June 30, 2022.Research and development expenses decreased to $3.1 million for the three months ended June 30, 2023, from approximately $3.5 million for the three months ended June 30, 2022. This decrease of 10% is primarily the result of lower expenses related to our Phase 1b/2a clinical trial of SYN-004 (ribaxamase) in allogeneic HCT recipients Phase 1a clinical trial of SYN-020, and decreased manufacturing expenses related to our Phase 1a clinical trial of SYN-020, offset by increased clinical trial expenses related to VCN-01. We anticipate research and development expense to increase as we continue enrollment in our VIRAGE Phase 2 clinical trial of VCN-01 in PDAC, and our ongoing Phase 1 clinical trial in retinoblastoma, expand GMP manufacturing activities for VCN-01, and continue supporting our VCN-11 and other preclinical and discovery initiatives. The charge related to stock-based compensation expense was $40,000 for the three months ended June 30, 2023, compared to $27,000 related to stock-based compensation expense for the three months ended June 30, 2022.Other income was $377,000 for the three months ended June 30, 2023 compared to other expense of $17,000 for the three months ended June 30, 2022. Other income for the three months ended June 30, 2023 is primarily comprised of interest income of $381,000 and exchange loss of $4,000. Other income for the three months ended June 30, 2022 is primarily comprised of interest income of $26,000 offset by an exchange loss of $9,000.Cash and cash equivalents totaled $34.2 million as of June 30, 2023, compared to $41.8 million as of December 31, 2022.Conference CallTheriva Biologics will host a conference call on Tuesday, August 8, 2023, at 8:30 a.m. ET to discuss its financial results for the quarter ended June 30, 2023 and provide a corporate update. Individuals may participate in the live call via telephone by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international) and using the conference ID: 13739888. Participants are asked to dial in 15 minutes before the start of the call to register. Investors and the public can access the live and archived webcast of this call via the “News & Media” section of the company’s website, https://www.therivabio.com, under “Events” or by clicking here, up to 90 days after the call.About Theriva™ Biologics, Inc.Theriva™ Biologics (NYSE American: TOVX), is a diversified clinical-stage company developing therapeutics designed to treat cancer and related diseases in areas of high unmet need. The Company is advancing a new oncolytic adenovirus platform designed for intravenous (IV), intravitreal and antitumoral delivery to trigger tumor cell death, improve access of co-administered cancer therapies to the tumor, and promote a robust and sustained anti-tumor response by the patient’s immune system. The Company’s lead candidates are: (1) VCN-01, an oncolytic adenovirus designed to replicate selectively and aggressively within tumor cells, and to degrade the tumor stroma barrier that serves as a significant physical and immunosuppressive barrier to cancer treatment; (2) SYN-004 (ribaxamase) which is designed to degrade certain commonly used IV beta-lactam antibiotics within the gastrointestinal (GI) tract to prevent microbiome damage, thereby limiting overgrowth of pathogenic organisms such as VRE (vancomycin resistant Enterococci) and reducing the incidence and severity of acute graft-versus-host-disease (aGVHD) in allogeneic hematopoietic cell transplant (HCT) recipients; and (3) SYN-020, a recombinant oral formulation of the enzyme intestinal alkaline phosphatase (IAP) produced under cGMP conditions and intended to treat both local GI and systemic diseases. For more information, please visit Theriva Biologics' website at www.therivabio.com.Forward-Looking StatementThis release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, and include statements regarding VIRAGE remaining on track to complete enrollment in the first quarter of 2024, upcoming discussions with regulatory agencies planned in the second half of 2023 to discuss the development pathway for VCN-01 as an adjunct to chemotherapy in pediatric patients with advanced retinoblastoma, the broad synergistic clinical benefit of VCN-01, the expected enrollment of 92 patients in the VIRAGE trial, the opportunity for VCN-01 in combination with immunotherapy products to treat solid tumors, VCN-01 being transformative for patients by providing a potential systemic line of treatment, the SYN-004 trial being on track to complete the second cohort (Q1 2024).    and cash being expected to provide runway into the fourth quarter of 2024,. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s and VCN’s ability to reach clinical milestones when anticipated, including completion of enrollment in Virage in the first quarter of 2024 and completing the SYN-004 second cohort in the first quarter of 2024, generating clinical data that establishes VCN-01 being an adjunct to chemotherapy in pediatric patients with advanced retinoblastoma and combining with immunotherapy products to treat solid tumors, the Company’s ability to successfully combine and operate the business of the Theriva Biologics and VCN, the Company’s and VCN’s product candidates demonstrating safety and effectiveness, as well as results that are consistent with prior results; the ability to complete clinical trials on time and achieve the desired results and benefits, continuing clinical trial enrollment as expected; the ability to obtain regulatory approval for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company’s and VCN’s ability to promote or commercialize their product candidates for the specific indications, acceptance of product candidates in the marketplace and the successful development, marketing or sale of the Company’s and VCN’s products, developments by competitors that render such products obsolete or non-competitive, the Company’s and VCN’s ability to maintain license agreements, the continued maintenance and growth of the Company’s and VCN’s patent estate, the ability to continue to remain well financed and the cash providing a runway into the fourth quarter of 2024, and other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and its other filings with the SEC, including subsequent periodic reports on Forms 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and Theriva Biologics undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.For further information, please contact: Investor Relations: Chris Calabrese LifeSci Advisors, LLC [email protected] 917-680-5608Theriva Biologics, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands except share and par value amounts) (Unaudited)       June 30, 2023    December 31, 2022Assets             Current Assets       Cash and cash equivalents$34,248  $41,786 Prepaid expenses and other current assets 3,717   3,734 Total Current Assets 37,965   45,520       Non-Current Assets     Property and equipment, net 301   345 Restricted cash 100   99 Right of use asset 1,956   1,199 In-process research and development 19,483   19,150 Goodwill 5,621   5,525 Deposits and other assets 23   23 Total Assets$ 65,449  $ 71,861       Liabilities and Stockholders‘ Equity            Current Liabilities:      Accounts payable$741  $915 Accrued expenses 1,826   1,496 Accrued employee benefits 1,070   1,403 Contingent consideration, current portion 4,978   2,973 Loans payable-current 67   57 Operating lease liability 452   216 Total Current Liabilities 9,134   7,060       Non-current Liabilities     Non-current contingent consideration 5,773   7,211 Loan Payable - Long term 153   221 Deferred tax liabilities, net 952   1,618 Operating lease liability - Long term 1,684   1,187 Total Liabilities 17,696   17,297       Commitments and Contingencies      Temporary Equity     Series C convertible preferred stock, $0.001 par value; 10,000,000 authorized;275,000 issued and outstanding 2,006   2,006 Series D convertible preferred stock, $0.001 par value; 10,000,000 authorized;100,000 issued and outstanding 728   728 Stockholders’ Equity:      Common stock, $0.001 par value; 350,000,000 shares authorized, 17,762,010 issued and 17,041,777 outstanding at June 30, 2023 and 15,844,294 issued and 15,124,061 outstanding at December 31, 2022 18   16 Additional paid-in capital 346,176   343,750 Treasury stock at cost, 720,233 shares at June 30, 2023 and at December 31, 2022 (288)  (288)Accumulated other comprehensive loss (356)  (679)Accumulated deficit (300,531)  (290,969)Total Stockholders’ Equity 45,019   51,830       Total Liabilities Temporary Equity, and Stockholders’ Equity$ 65,449  $ 71,861 Theriva Biologics, Inc. and Subsidiaries Consolidated Statements of Operations and Comprehensive Loss(In thousands, except share and per share amounts) (Unaudited)             For the three months ended June 30,     For the six months ended June 30,  2023    2022    2023    2022Operating Costs and Expenses:               General and administrative 2,687   1,541   4,888   3,196 Research and development 3,133   3,485   6,110   6,082 Total Operating Costs and Expenses 5,820   5,026   10,998   9,278             Loss from Operations (5,820)  (5,026)  (10,998)  (9,278)            Other Expense:           Exchange loss (4)  (9)  1   (31)Interest income 381   26   745   27 Total Other Income (Expense) 377   17   746   (4)            Net Loss (5,443)  (5,009)  (10,252)  (9,282)Income tax benefit 359   532   689   532 Net Loss Attributable to Common Stockholders$ (5,084) $ (4,477) $ (9,563) $ (8,750)            Net Loss Per Share - Basic and Dilutive$(0.34) $(0.28) $(0.63) $(0.59)            Weighted average number of shares outstanding during the period - Basic and Dilutive 15,166,209   15,844,061   15,145,252   14,837,832             Net Loss  (5,084)   (4,477)   (9,563)   (8,750)Gain(Loss) on foreign currency translation  (51)   (1,442)   323    (1,261)Total comprehensive loss$ (5,135) $ (5,919) $ (9,240) $ (10,011)

GlobeNewswire

Theriva™ Biologics Reports Second Quarter 2023 Operational Highlights and Financial Results

https://finance.yahoo.com/news/theriva-biologics-reports-second-quarter-120000783.html

88468d2b-15db-34b0-81ee-a9c3c59f94ae

TOVX

ParticipantsManel CascallóSteven A. Shallcross; CEO, CFO, Treasurer, Corporate Secretary & Director; Theriva Biologics, Inc.James Francis Molloy; MD of Equity Research and Biotechnology & Specialty Pharmaceuticals Equity Research Analyst; Alliance Global Partners, Research DivisionChris CalabresePresentationOperatorLadies and gentlemen, good morning, and welcome to the Theriva Biologics, Inc. 2023 Second Quarter Earnings Conference Call. (Operator Instructions) As a reminder, this conference is being recorded.It is now my pleasure to introduce your host, Chris Calabrese from LifeSci Advisors. Please go ahead.Chris CalabreseThank you, operator, and good morning, everyone. Welcome to Theriva Biologics Second Quarter 2023 Investor Conference Call. Leading the call today will be Steven Shallcross, Chief Executive and Chief Financial Officer of Theriva Biologics; Dr. Manel Cascalló, General Director of Theriva Biologics, European subsidiary; and Dr. Vince Wacher, Head of Corporate and Product Development of Theriva Biologics are also on the call and will be available to answer questions during the Q&A session.Theriva Biologics issued a press release this morning, which provided operational highlights and included the financial results for the second quarter ending June 30, 2023. The press release can be found in the Investors section of the company website at www.therivabio.com, together with the quarterly report on Form 10-Q for the quarter ended June 30, 2023, which we plan to file today with the Securities and Exchange Commission, or SEC. In addition to the phone line, this call is being streamed live via webcast, which will be archived on the company website, www.therivabio.com for 90 days.During this call, certain forward-looking statements regarding Theriva Biologics and VCN Biosciences' current expectations and projections about future events will be made. Generally, the forward-looking statements can be identified by terminology such as may, should, expects, anticipates, intends, plans, believes, estimates and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, including those set forth in Theriva Biologics filings with the SEC, many of which are difficult to predict. No forward-looking statements can be guaranteed, and actual results may differ materially from such statements.The information on this call is provided only as of the date of this call, and Theriva Biologics undertakes no obligation to update any forward-looking statements contained on this conference call on account of new information, future events or otherwise, except as required by law.With that, I'd like to turn the call over to Steve. Steve?Story continuesSteven A. ShallcrossThanks, Chris. Good morning, and I appreciate everyone taking the time to join us today. We're making tremendous progress with advancing our organization and addressing unmet needs for difficult-to-treat cancers. And in the second quarter of 2023, we continue to drive forward our oncology-focused portfolio. With our extended cash runway into the fourth quarter of 2024, we believe we're well positioned to execute on our corporate objectives and remain on track to reach multiple value-enhancing milestones.Our primary efforts and resources are focused on pursuing multiple therapeutic opportunities for our lead clinical candidate, VCN-01. As a reminder, VCN-01 is a systemically administered oncolytic adenovirus, designed to selectively replicate within the tumor, degrade the tumor matrix and increase tumor immunogenicity. We believe these multiple modes of action position VCN-01 for optimized tumor killing across several indications and in combination with different types of therapies.Our confidence in VCN-01 is built on a strong clinical foundation as VCN-01 has been administered to more than 90 patients so far in diverse indications that include pancreatic ductal adenocarcinoma, or PDAC; head and neck squamous cell carcinoma; colorectal cancer; ovarian cancer; and retinoblastoma.VCN-01 has been awarded orphan drug designation in the U.S. and Europe for the treatment of pancreatic cancer and in the U.S. for retinoblastoma, providing additional opportunities for regulatory engagement and, if approved, market exclusivity. The potential use of VCN-01 to enable and enhance the use of chemotherapy and immune checkpoint inhibitors and otherwise refractory solid tumors is a strategic focus for Theriva that may provide multiple opportunities in areas of high therapeutic needs. I'm pleased today to report recent highlights from our ongoing programs evaluating VCN-01 in different indications in combination with chemotherapy, immune checkpoint inhibitors and CAR T cells.First, enrollment is accelerating in VIRAGE, our multinational Phase IIb clinical trial evaluating intravenous VCN-01 in combination with standard of care chemotherapy, gemcitabine/nab-paclitaxel as a first-line therapy for patients with PDAC. The first patients at study sites in Spain have received their second doses of VCN-01 and U.S. sites have dosed their first patients in the trial. Repeated dosing of VCN-01, if effective, is expected to enable dosing in more standardized treatment cycles and potentially improve treatment outcomes.Second, survival data for patients treated with VCN-01 in combination with the immune checkpoint inhibitor durvalumab in patients with recurrent metastatic head and neck cancer will be presented at ESMO -- at the ESMO conference in October. Biochemical and mechanistic data presented last year demonstrated that VCN-01 proved tumor immunogenicity in previous immunotherapy refractory patients and in the upcoming presentation, we'll discuss and highlight some of the first clinical outcomes data evaluating the feasibility of a VCN-01 checkpoint inhibitor combination.And third, the University of Pennsylvania continues to enroll and treat patients in their investigator-sponsored trial administering VCN-01 with huCART-meso cells in ovarian and pancreatic cancer patients. Initial data from this trial were presented at the Silicon Valley Conference in June, highlighting the feasibility of administering VCN-01 with huCART-meso cells to treat solid tumors. CAR T cell therapies have had limited efficacy against solid tumors to date, and we look forward to further data from the study to determine if VCN-01 can improve patient outcomes with these powerful immunotherapies.Looking ahead, we intend to meet with the FDA in the second half of 2023 to discuss the development pathway for VCN-01 as an adjunct to chemotherapy in pediatric patients with advanced retinoblastoma. Further, as we continue to explore the potentially broad synergistic clinical benefit of VCN-01, we remain committed to pursuing new oncolytic virus candidates to leverage our novel Albumin Shield technology, which is designed to protect systemically administered oncolytic viruses from the host immune system and may facilitate repeated administration of oncolytic virus therapies. This may enable our pipeline of programs to be used in standardized treatment cycles that are well established in cancer chemotherapy and immunotherapy.Additionally, part of our oncology focused portfolio, in addition to exploring the potential clinical benefits of VCN-01 in different solid tumor antigens, we continue to screen and enroll patients in the second cohort of the Phase Ib/IIa clinical trial of SYN-004, which we expect to complete in the first quarter of 2024. As a reminder, SYN-004 is designed to prevent potentially fatal adverse outcomes in patients who undergo allogeneic hematopoietic cell transplant, or HCT, to treat hematological cancers.I will now provide further detail on how these programs continue to position Theriva at the forefront of oncolytic virus development, starting with our lead program, VCN-01. With a 5-year survival rate of only 3%, metastatic PDAC has one of the lowest survival rates among all cancers and is an indication that is ripe for innovation. It is well established that the PDAC tumor matrix is one of the key reasons for the overall poor therapeutic outcomes for these patients. We believe VCN-01 has the potential to address the urgent need for new treatment options for patients with PDAC by degrading the tumor matrix in increasing tumor access by standard of care chemotherapy.The initiation of dosing at U.S. sites in the VIRAGE trial and the completion of the second VCN-01 doses for the first patients in Spain are important accomplishments that add to the strong momentum for VCN-01 development. We are extremely encouraged by the reported safety profile seen in the second VCN dose, which was consistent with the safety profile observed for single doses of VCN-01 administered with standard of care chemotherapy in this and previous clinical trials.More broadly, the VIRAGE trial will enable us to determine the feasibility of repeated dosing of VCN-01, which could shift the paradigm to standardized treatment cycles that are well established into chemotherapy and immunotherapy and may lead to improved clinical outcomes for patients with PDAC and other solid tumors. The VIRAGE trial is expected to enroll 92 patients and currently has 4 sites open in the U.S. and 8 sites open in Spain.As a reminder, in both the control arm and treatment arm of our Phase IIb trial, patients will receive gemcitabine and nab-paclitaxel standard of care chemotherapy in 28-day cycles. In the treatment arm only, patients will also receive systemically administered VCN-01 seven days prior to the first and fourth cycles of gemcitabine and nab-paclitaxel treatment. Primary endpoints for the trial include overall survival and VCN safety and tolerability. Additional points include progression-free survival, objective response rate and measures of biodistribution, VCN-01 replication and immune response.Since this is an open-label trial, progress will be monitored very closely and steps to accelerate the clinical program may be implemented if supported by emerging data.In addition to advancing the VIRAGE PDAC trial, we continue to work closely with key opinion leaders to refine our clinical strategy in retinoblastoma. We look forward to scheduling conversations with regulatory agencies to discuss the development pathway for VCN-01 as an adjunct to chemotherapy in pediatric patients with advanced retinoblastoma. We believe intravitreal VCN-01 has the potential to treat vitreous seeds in children with retinoblastoma and we look forward to leveraging our orphan drug designation in this indication to facilitate protocol discussions with the FDA and other regulatory agencies.Since current clinical practice varies and there is no regulatory guidance specific to retinoblastoma drug development, we are working with our key opinion leaders in the U.S., Europe and Central and South America to develop new potential treatment options for this difficult-to-treat cancer. In parallel with company-sponsored studies, the potential utility of VCN-01 is being explored in a number of investigator-sponsored studies that are underway at leading oncology research institutions around the world. As previously noted, enrollment and treatment are ongoing at an investigator-sponsored study at the University of Pennsylvania, administering VCN-01 with UPenn's huCART-meso cells. In this study, VCN-01 is administered 14 days prior to the dose of huCART-meso cells, and the patients are carefully followed for safety and clinical outcomes.At the recent Silicon Valley Conference in June, the University of Pennsylvania investigators presented initial data from 2 ovarian cancer patients and one pancreatic cancer patient who'd received the scheduled doses of VCN-01 and huCART-meso cells. The investigators noted that the combination was generally well tolerated, which highlights the feasibility of administering VCN-01 with huCART-meso cells and supports the continued evaluation of VCN-01 in combination with immunotherapy products to treat solid tumors.In a separate investigator-sponsored study, we are exploring the therapeutic potential of VCN-01 in combination with durvalumab for patients with recurrent metastatic head and neck cancer. We are encouraged by the data generated to date, highlighted by the acceptable safety profile seen with the sequential dosing of VCN-01 and durvalumab as well as the biological activity observed in head and neck cancer patients who failed multiple previous lines of therapy, including treatment with anti-PD-1 and PD-L1 agents.At the upcoming ESMO Congress in Madrid, Spain from October 20 through the 24 this year, investigators will present survival data from the ongoing Phase I study, which will provide the first clinical insights into the feasibility of combining VCN-01 with an immune checkpoint inhibitor.Furthermore, in collaboration with the University of Leeds, we are evaluating intravenous VCN-01 in patients with high-grade brain tumors who are scheduled for surgical resection. This Phase I trial is designed to evaluate the ability of VCN-01 to enter brain tumors following systemic administration. The leaky vasculature of many brain tumors may provide an excellent opportunity for systemically-administered VCN-01 to enter the tumor where it may replicate and initiate tumor cell killing, destroy tumor stroma and stimulate an antitumor immune response.Successful systemic delivery of VCN-01 to brain tumors could provide a less invasive intervention and potentially transform the way these cancers are treated. The Leeds investigators have initiated dosing and are exploring protocol refinements that may help expand enrollment.Additionally, enrollment in the Phase I clinical study in collaboration with Hospital Sant Joan de Déu in Barcelona, Spain has extended its 2 additional patients. The study designed to evaluate the safety and tolerability of VCN-01 in patients with interocular retinoblastoma refractory to systemic interatrial or intravitreal chemotherapy or radiotherapy. We look forward to using these data in future discussions with regulatory agencies to refine the development pathway for VCN-01 in retinoblastoma.Turning to our ongoing Phase Ib/IIa clinical trial of SYN-004, or ribaxamase, to prevent acute graft-versus-host disease, or aGVHD, in patients undergoing allogeneic HCT treatment for hematological cancers. SYN-004 is intended to address key limitations of broad-spectrum antibiotics or IV beta-lactam antibiotics and potentially improve treatment outcomes with this important and widely used class of therapeutics. The Phase Ib/IIa study is designed to assess the feasibility of using SYN-004 in the specific patient population and to provide key information requested by the FDA regarding the safety and tolerability of SYN-004 in patients with impaired intestinal dysfunction.As a reminder, the study consists of 3 sequential cohorts designed to compare different IV beta-lactam antibiotics to treat fever following conditioning therapy. In each cohort, 8 patients will receive SYN-004 and 4 will receive placebo. While the data remain blinded, interim analysis suggests that SYN-004 is well tolerated and was not observed in the blood samples of a majority of the evaluable patients.Our second cohort is underway and is designed to evaluate SYN-004 in combination with piperacillin and tazobactam. This cohort will provide important additional safety information, in particular, whether oral SYN-004 has the potential to alter IV antibiotic levels in this patient population.With our collaborators at Washington University, we continue to explore the potential of SYN-004 to reduce potentially fatal adverse events related to IV antibiotic use in HCT recipients, including aGVHD and overgrowth and infection by pathological organisms, C. difficile and vancomycin-resistant enterococci.We are pleased with the progress of our clinical programs. As we continue to build on the growing data that underscores VCN-01's differentiated mechanism, key priority will be to identify new candidates, to leverage the novel Albumin Shield technology and exciting additional technologies from our OV platform, which have tremendous potential for our pipeline. To this end, in 2023, we appointed Dr. Ramon Alemany, PhD, to Senior Vice President of Discovery. Ramon is an internationally recognized expert in oncolytic adenoviruses and as Co-Founder of VCN Biosciences is uniquely suited to oversee Theriva's discovery and development pipeline. Ramon will continue to serve as Chair of the Scientific Advisory Board and is Head of the Immunotherapy and Virotherapy Group at the ProCURE Program at the Catalan Institute of Oncology, ICO, and the Oncobell Program of the Biomedical Research Institute of Bellvitge, or IDIBELL. We look forward to his guidance and strategic leadership in this new role.Additionally, we are grateful for the opportunity to strengthen our relationship with ICO and IDIBELL, the leading research institutions and long-term collaborators where our current OV technologies and products were invented and incubated. Overall, I'm confident that the company's strong cash position and upcoming catalyst provide a solid foundation for execution and value creation. We remain focused driving our clinical programs forward and exploring opportunities to expand our pipeline through our OV discovery platform. We remain on track to complete enrollment for the VIRAGE program by the first quarter of 2024. Meet with the FDA to discuss the clinical development and potential registration pathway for VCN-01 is an adjunct to chemotherapy in pediatric patients with advanced retinoblastoma before the end of the year and complete the second cohort of our Phase Ib/IIa clinical study of SYN-004 for the prevention of acute graft-versus-host disease in bone marrow transplants in patients in the first quarter of 2024.Now I'd like to briefly turn to the financial results for the second quarter of June 30, 2023. General and administrative expenses increased to $2.7 million for the 3 months ended June 30, 2023, from $1.5 million for the 3 months ended June 30, 2022. This increase of 80% is primarily comprised of increased expense related to the fair value of contingent consideration adjustment of $0.9 million, along with higher audit fees, consulting fees, travel and VCN administrative expenses not included in the prior year, offset by a decrease in legal costs related to the VCN acquisition. The charge related to stock-based compensation expense was $106,000 for 3 months ended June 30, 2023, compared to $86,000 for the 3 months ended June 30, 2022.Research and development expenses decreased to $3.1 million for the 3 months ended June 30, 2023, from approximately $3.5 million for the 3 months ended June 30, '22. This decrease of 10% is primarily the result of lower expenses related to our Phase Ib/II clinical trail of SYN-004 and allogeneic HCT recipients Phase Ia clinical trials of SYN-020 and decreased manufacturing expenses related to our Phase Ia clinical trial of SYN-020, offset by increased clinical trial expenses related to VCN-01. We anticipate research and development expense to increase as we continue enrollment in our VIRAGE Phase II clinical trial of VCN-01 in PDAC and our ongoing Phase I trial in retinoblastoma, expand GMP manufacturing activities for VCN-01 and continue supporting our VCN-11 and other preclinical and discovery initiatives.The charge related to stock-based compensation expense was $40,000 for the 3 months ended June 30, 2023, compared to $27,000 for the 3 months ended June 30, 2022.Other income was $377,000 for the 3 months ended June 30, 2023, compared to other expense of $17,000 for the 3 months ended June 30, 2022. Other income for the 3 months ended June 30, 2023, primarily comprised of interest income of $381,000 and an exchange loss of $4,000. Other income for the 3 months ended June 30, 2022, is primarily comprised of interest income of $26,000 and offset by an exchange loss of $9,000.Cash and cash equivalents totaled $34.2 million as of June 30, 2023, compared to $41.8 million as of December 31, 2022.We remain deeply committed to improving patient outcomes for these very, very hard-to-treat cancers. And before we conclude today's call, I want to extend my sincere appreciation and gratitude for the foundational work that has brought us closer to delivering on our mission. I'd also like to thank the entire Theriva team, our investors and the many people who have been supportive along the way, including our patients and their families.With that, we're happy to take some questions.Question and Answer SessionOperator(Operator Instructions) Our first question comes from the line of James Molloy with Alliance Global Partners.James Francis MolloyI had a question on the ISTs that are running. We've got the pancreatic, the brain tumor (inaudible) leads. When should we anticipate going down sort of 3 said brain tumor Phase I, the combo with CAR-T for ovarian, pancreatic and the Phase I with Imfinzi or head and neck? When should we anticipate, I guess, the interim looks for these and potentially, I know it's hard to judge for an IST. Wouldn't it be reasonable to think you might be looking at the top line data on these trials?Steven A. ShallcrossOkay. Thanks, Jim. Let me take the first stab at that. So going down the line, the UPenn study, which we're incredibly excited about is ongoing and they have not given us a deadline on how long that trial will continue. We know they continue to enroll patients. As I mentioned, the Silicon Valley Conference, they presented some data. We believe that there is some additional conferences that are coming up this fall that further data will be presented at. Again, it's a function of how quickly they can attract the right patients to enroll in their study and ultimately the data that's presented. But so far, we're very encouraged by what we're seeing in terms of the results that have been generated to date with UPenn.The retinoblastoma study, we've kept that open in Spain. And that's important to continue to gather as much data as possible ahead of our meeting with regulatory authorities, including the FDA. I think the possibility of closing that trial perhaps as soon as the end of this year, early next year, that's probably the time line. And once that trial is concluded, we'll update everybody on the additional data that's been generated.The Leed study, that one, again, we don't have a firm deadline. We continue to have discussions with the investigators and we continue to look at ways to make enrollment easier for patients to participate. As you may or may not have heard, the U.K. health system has been feeling a little bit of pressure from budgetary issues and staffing. So the investigators continue to address that. And again, when we have an update on the timing, we'll certainly bring everybody up to speed with that. And then finally, we're really excited about the head and neck cancer trial. As we said in the presentation here today, the survival and efficacy data is going to be presented at the ESMO conference in Madrid in October. It's the 20th or the 24th. We don't have a meeting date yet. And when the day, it's going to be presented. But that's going to be, I think, a real opportunity to highlight how VCN-01 to be used in combination with checkpoint inhibitors, particularly in patients that have failed previous rounds with checkpoint inhibitors and became refractory to those treatments. So that's sort of all I have right now. And again, we'll continue to update everybody as we have more firm deadlines. Is that helpful for you?James Francis MolloyIt is indeed. Yes. I had heard that U.K. is -- they're cutting funding and sort of shutting down programs so they feel like they can't get them completely in a reasonable amount of time as the University of Leeds IST in brain tumor, one of these specialties looking at that.Steven A. ShallcrossThe study itself is funded. It's the staffing issues at the hospitals where I think they're feeling some pressure. But again, we're in communication with the investigator, and we continue to look for ways to enhance the opportunity for patients to be enrolled in that trial.James Francis MolloyOkay. And maybe on VIRAGE then just to clarify, the enrollment completed in first quarter '24, which is excellent, on track with expectations. In -- when would you -- is there an interim look to anticipate on that in the current year? And then I think in the fourth quarter '23, maybe I made that up. And then when would you anticipate potentially top line data for the VIRAGE trial and sort of wrapping that trial and taking next steps?Steven A. ShallcrossSo first and formal, the primary endpoint of that trial is overall survival. And assuming that the trial is completely enrolled by the first quarter of next year, arguably, that data will start presenting itself some time probably in '25. Now having said that, we have multiple secondary endpoints that will help us evaluate before then whether or not the drug is performing as expected. And maybe as soon as the end of this year going into next year, we could possibly have a good indication of overall response. How we convey that information to the market is yet to be determined because depending on what those data say, we may be well positioned to first have a discussion with regulatory authorities before we make that data public. So although it could be an opportunity for us to have such a communication, more importantly, I think the fact that we could have an opportunity to go in front of regulatory authorities to figure out how we can expedite the clinical development of the asset would be equally important. So stay tuned, I guess, is the answer.James Francis MolloyOkay. And as an open-label trial, I mean, obviously, you have the opportunity to release data as you deem and worthy of release. Correct?Steven A. ShallcrossAgain, I would not suggest that we plan to release that data before we had a chance to analyze it and first have a discussion with regulatory authorities. I think that wouldn't be fair to the trial, the participants and our ability to sort of chart the path forward and from a clinical development point of view.James Francis MolloyAnd maybe last couple of questions. I apologize if I missed it on the call. On VCN-11, is the IND on track for third quarter this year?Steven A. ShallcrossManel, you want to talk about VCN-11 and our other development initiatives?Manel CascallóYes. I can do that probably. So we are working right now with basically the manufacturing part of VCN-11. We don't have a formal deadline for this year for this product yet. In fact, our research and development team is working very actively with VCN-11 and also with different candidates right now. We have announced that the incorporation of Ramon Alemany during this year and that has been a real boost for all our discovery activities.So for VCN-11, yes, we are advancing that we are not yet in the phase of applying for IMPD formally. We are working on that, but we need still some work to do before that. And we are all developing, as said, new candidates that can be really, really promising. So I think that probably in the next month, we are going to have some additional things to show you. But that's still a bit early.James Francis MolloyGot it. Understood. I may have made up the IND there on my end. And then maybe last question. On SYN-004 and SYN-020, I know that we've long discussed potentially partnering these programs. How realistic is the opportunity to the partner? I know that you're still looking data from them to perhaps make the product look better. What is a realistic expectation as an outsider we should have thinking about a potential partnership for either the 020 or 004?Steven A. ShallcrossI think it's realistic to certainly expect the potential partnership with either one of those assets. And as I've said on previous calls, although there's folks that we've had discussions with, we continue to have discussions with until we have something committed and over the line, we're not going to talk any further about that.Operator(Operator Instructions) As there are no further questions, I will now hand the conference over to Steven Shallcross for closing comments.Steven A. ShallcrossThank you, Ryan. Thanks again to everyone for taking the time to join us today. We remain focused on driving our key programs, as we've talked about today. And we'll continue to evaluate strategetic opportunities that could, in fact, further drive shareholder value and long-term success. Once again, thanks again for joining us today, and we look forward to keeping you updated on our progress.OperatorThe conference of Theriva Biologics, Inc. has now concluded. Thank you for your participation. You may now disconnect your lines.

Thomson Reuters StreetEvents

Q2 2023 Theriva Biologics Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-theriva-biologics-inc-024331359.html

33f52e37-37b4-35d8-86db-8a9a96a9cc8a

TPG

Her Experience Strategically Evolving Businesses Will Drive Morrow Sodali’s Growth in Stakeholder EngagementNEW YORK, September 05, 2023--(BUSINESS WIRE)--Morrow Sodali (the "Firm"), the global stakeholder engagement and ESG consulting firm, today announced that Barri Rafferty has been named CEO, Americas and as a member of the Firm’s Executive Committee. In this newly created role, Rafferty will oversee the Firm’s operations in North and South America. Rafferty is based in Stamford, CT and New York, NY, and reports to Alvise Recchi, Morrow Sodali’s Global Chief Executive Officer.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230905841211/en/Barri Rafferty, CEO, Americas - Morrow Sodali (Photo: Business Wire)"As we continue to grow and expand our platform, we are focused on adding exceptional leadership talent to our team," said Recchi. "Barri has global experience as a senior leader at dynamic companies and a track record of enhancing sales, building organizational effectiveness, and creating collaboration across teams. I am excited to welcome Barri to Morrow Sodali and am confident she will drive the growth of our Americas franchise."Rafferty joins Morrow Sodali after serving as Head of Communications and Brand Management for Wells Fargo and as CEO and President for Ketchum. She is known for her effectiveness modernizing organizations and positioning them to meet the challenges of today’s marketplace. She is also a strong advocate for diversity and inclusion and served as a fractional interim CEO of C200, a non-profit committed to inspiring, educating, supporting, and advancing women entrepreneurs and corporate, profit-center leaders. She has also served as a strategic consultant for start-up and mid-sized companies scaling their businesses and aligning organizational structures toward effective and efficient growth through Rafferty Consulting.Story continues"I am excited to work closely with the leadership team at Morrow Sodali and our investors at TPG to continue to grow this global corporate consultancy and leverage the Firm’s recent acquisitions in ESG and sustainability advisory services," said Rafferty. "As stakeholder relations becomes more complex, corporate governance and activism more pronounced, and the need for companies to take stands on ESG topics more controversial, Morrow Sodali has a unique role to play in enhancing corporate value."Rafferty joins Morrow Sodali at a time of considerable momentum for the Firm. With support from TPG and following a significant investment from TPG Growth, the firm’s middle market and growth equity platform, Morrow Sodali has made several highly strategic acquisitions. This includes acquiring HXE Partners and Framework ESG, two market-leading ESG strategy and implementation advisory firms, and Citadel Magnus, an Australian financial communications and investor relations agency. The Firm remains focused on being a global acquiror-of-choice across our core services."Barri is a proven leader with a strong track record and we are confident she will help position Morrow Sodali for further growth," added Ransom Langford, Partner at TPG. "We are pleased to partner with Barri as we continue building and broadening the Firm’s suite of stakeholder engagement and ESG consulting services.""Morrow Sodali’s team is the driving force behind the Firm’s success and Barri brings considerable experience attracting and retaining exceptional and diverse talent," added Rachel Stern, EVP, Chief Legal Officer and Global Head of Strategic Resources at FactSet and Morrow Sodali Board Director. "Together with the leadership team and our partners at TPG, we are focused on advancing Morrow Sodali’s position as a world-class professional services firm, with clients at the center of everything we do."Rafferty has been recognized as a NYWICI Matrix honoree, Provoke Influence 100, PRWeek Outstanding Agency Professional and named multiple times to PRWeek’s "Power 50" list. She was recognized with the Flex Leader Award, Diversity & Flexibility and has spoken on gender parity at the World Economic Forum and TedxEast. She also serves on the board of C200.ABOUT MORROW SODALIMorrow Sodali is a global corporate consultancy that provides clients with comprehensive advice and services relating to corporate governance, compensation, ESG, sustainability, proxy solicitation, capital markets intelligence, shareholder and bondholder engagement, M&A, activism and contested situations, financial communications, investor relations and research.From headquarters in New York and London and offices in global capital markets, Morrow Sodali serves over 1,000 clients in more than 80 countries, including many of the world’s largest multinational corporations, both listed and private, mutual fund groups, stock exchanges and membership associations.In 2022, Morrow Sodali celebrated its 50th anniversary and also secured majority investment from TPG Growth, the middle market and growth equity platform of alternative asset firm TPG. This partnership significantly advances Morrow Sodali’s mission of providing clients worldwide with unrivaled strategic advice and comprehensive support, enabling them to maximize value and expertly manage stakeholder relations.ABOUT TPGTPG (NASDAQ: TPG) is a leading global alternative asset management firm, founded in San Francisco in 1992, with $139 billion of assets under management and investment and operational teams around the world. TPG invests across five multi-strategy platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905841211/en/ContactsMorrow Sodali Jennifer Carberry, [email protected], +1 203 658 9419TPG Ari Cohen and Julia Sottosanti, [email protected], +1 415 743 1550

Business Wire

Morrow Sodali Names Barri Rafferty as CEO of the Americas

https://finance.yahoo.com/news/morrow-sodali-names-barri-rafferty-120000656.html

b864f71f-aa6f-3efb-a21c-3474e0e6101c

TPG

Ken Murphy to Retire from the FirmSAN FRANCISCO & FORT WORTH, Texas, September 05, 2023--(BUSINESS WIRE)--TPG (NASDAQ: TPG), a global alternative asset management firm, announced that effective today, Partner and Board Member Anilu Vazquez-Ubarri has been named Chief Operating Officer of the firm. As COO, Vazquez-Ubarri will lead TPG’s operational functions globally to enable the firm’s strategic business and investment priorities. She will continue to partner closely with CEO Jon Winkelried and the rest of the firm’s leadership team to develop and drive TPG’s growth strategy. Vazquez-Ubarri succeeds Ken Murphy, who will retire from the firm after a planned transition period."As we continue to grow our platform and expand our investment capabilities, it’s critical that our operating infrastructure aligns with our mandate and focus on continuous innovation. Anilu has been at the forefront of several milestones at the firm, including our IPO in 2022 and our recent acquisition of Angelo Gordon. She is a highly skilled and strategic operator whose leadership and counsel are valued at every level of our organization," said Jon Winkelried, CEO of TPG. "Since joining the firm in 2015, Ken has been instrumental in developing our infrastructure and expanding our operating capabilities. Ken’s impact positioned TPG to become a public company and continues to enable our growth. We thank him for his leadership, partnership, and significant contributions over many years."Vazquez-Ubarri joined TPG in 2018 and most recently served as Partner and Chief Human Resources Officer of the firm. She is responsible for developing and implementing a multi-year human resources strategy that reflects the current and future state of the business, prioritizes talent development and management, and helped institutionalize TPG’s culture of inclusivity, transparency, and innovation. This strategy was critical to executing TPG’s 2022 IPO and several other important firm growth initiatives. In addition, Vazquez-Ubarri is a founding member of TPG NEXT, the firm’s strategy to seed and stake diverse investment managers, and she currently serves as a senior sponsor and investment committee member for TPG NEXT’s inaugural fund. Anna Edwin, TPG’s Global Head of Talent, will become the Global Head of Human Resources, reporting to Vazquez-Ubarri.Story continues"I was drawn to TPG given its distinct culture, which is transparent, entrepreneurial, and founded on a shared passion for problem solving and commitment to investment excellence," said Vazquez-Ubarri. "In my time at the firm, I have been proud to partner with excellent colleagues to drive innovation and growth, and I am thrilled to have the opportunity to broaden this work in my new role as COO."Before joining TPG, Vazquez-Ubarri spent more than a decade at Goldman Sachs, where she last served as the firm’s Global Head of Talent and Chief Diversity Officer. Prior to Goldman Sachs, Vazquez-Ubarri was an Associate at Shearman & Sterling LLP in the Executive Compensation & Employee Benefits group. She currently serves as a Director on the boards of Upwork Inc. and Greenhouse Software and on the boards of nonprofit companies Teach for America-Bay Area, the Vera Institute of Justice, and Charter School Growth Fund.About TPGTPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $139 billion of assets under management and investment and operational teams around the world. TPG invests across five multi-strategy platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905129536/en/ContactsShareholder: Gary [email protected]: Luke Barrett or Courtney [email protected]

Business Wire

TPG Appoints Anilu Vazquez-Ubarri as Chief Operating Officer

https://finance.yahoo.com/news/tpg-appoints-anilu-vazquez-ubarri-163100040.html

d9ab97ad-7454-34e7-b794-21f8c1aa36ad

TPR

It looks like Tapestry, Inc. (NYSE:TPR) is about to go ex-dividend in the next four 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 of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. Meaning, you will need to purchase Tapestry's shares before the 7th of September to receive the dividend, which will be paid on the 25th of September.The company's next dividend payment will be US$0.35 per share, on the back of last year when the company paid a total of US$1.20 to shareholders. Based on the last year's worth of payments, Tapestry stock has a trailing yield of around 4.2% on the current share price of $33.7. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. So we need to investigate whether Tapestry can afford its dividend, and if the dividend could grow. See our latest analysis for Tapestry 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. Tapestry paid out a comfortable 30% of its profit last year. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. Thankfully its dividend payments took up just 36% of the free cash flow it generated, which is a comfortable payout ratio.It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.Click here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. It's encouraging to see Tapestry has grown its earnings rapidly, up 24% a year for the past five years. Tapestry is paying out less than half its earnings and cash flow, while simultaneously growing earnings per share at a rapid clip. This is a very favourable combination that can often lead to the dividend multiplying over the long term, if earnings grow and the company pays out a higher percentage of its earnings.Story continuesThe main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Tapestry has delivered 1.6% dividend growth per year on average over the past 10 years. It's good to see both earnings and the dividend have improved - although the former has been rising much quicker than the latter, possibly due to the company reinvesting more of its profits in growth.To Sum It UpFrom a dividend perspective, should investors buy or avoid Tapestry? Tapestry has grown its earnings per share while simultaneously reinvesting in the business. Unfortunately it's cut the dividend at least once in the past 10 years, but the conservative payout ratio makes the current dividend look sustainable. Overall we think this is an attractive combination and worthy of further research.While it's tempting to invest in Tapestry for the dividends alone, you should always be mindful of the risks involved. In terms of investment risks, we've identified 2 warning signs with Tapestry and understanding them should be part of your investment process.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.

Tapestry, Inc. (NYSE:TPR) Passed Our Checks, And It's About To Pay A US$0.35 Dividend

https://finance.yahoo.com/news/tapestry-inc-nyse-tpr-passed-121341597.html

716b6cd8-686a-31be-a443-36f4f5242bc0

TPR

The S&P 500 has rebounded strongly from last year's pullback, but the broad-market index stalled out in August as concerns about rising interest rates and a recovery that may have gotten ahead of itself contributed to the decline in stocks. As you can see from the chart below, the S&P 500 edged down 1.8% in August, slightly better than the Nasdaq and Dow Jones Industrial Average. Let's take a look at the three worst-performing S&P 500 stocks from August to see if any are worth buying.Continue reading

Motley Fool

Is It Time to Buy the S&P 500's 3 Worst-Performing August Stocks?

https://finance.yahoo.com/m/50ca6b28-d1c5-3249-923a-5993a9ecd06b/is-it-time-to-buy-the-s-p.html

50ca6b28-d1c5-3249-923a-5993a9ecd06b

TPST

Tempest TherapeuticsBRISBANE, Calif., Aug. 10, 2023 (GLOBE NEWSWIRE) -- Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage oncology company developing first-in-classi therapeutics that combine both targeted and immune-mediated mechanisms, today reported financial results for the quarter ended June 30, 2023 and provided a corporate update.“2023 continues to be a productive and potentially transformative year for Tempest,” said Stephen Brady, chief executive officer of Tempest. “In the second quarter, we presented data from our second clinical program, TPST-1495, the company’s novel dual EP2/EP4 antagonist designed to selectively modulate the prostaglandin pathway, both at ASCO and in a paper published in Cancer Research Communications. These presentations were made on the heels of announcing early exciting triplet data from our lead TPST-1120 program demonstrating a clinically-meaningful improvement over standard of care alone in first-line HCC patients in an ongoing, global, randomized Phase 1b/2 study. We expect to be able to discuss an updated and comprehensive data set from the formal review of this trial in the second half of 2023.”Recent HighlightsTPST-1120 (clinical PPARα antagonist): announced positive early results from the ongoing randomized first-line HCC study comparing TPST-1120 combined with the standard-of-care regimen of atezolizumab and bevacizumab, with head-to-head to standard-of-care alone. The data were positive in multiple categories, and demonstrated a favorable safety profile:Unconfirmed responses of 30% for the TPST-1120 triplet arm (12/40) vs. 17.2% for the active control arm (5/29), demonstrating a 74.4% relative improvement in objective response rate (ORR);Confirmed responses of 17.5% for the TPST-1120 triplet arm (7/40) vs. 10.3% for the active control arm (3/29), demonstrating a 69.9% relative improvement in confirmed ORR;47.5% (19/40) of the TPST-1120 arm patients are on treatment vs. 23.3% (7/30) in the control arm; and80% (32/40) of the TPST-1120 arm patients are on study vs. 50% (15/30) in the control.iiTPST-1495 (clinical dual EP2/4 prostaglandin receptor antagonist): (i) presented data from a Phase 1 study evaluating TPST-1495 as a monotherapy and in combination with the anti-PD-1 checkpoint inhibitor pembrolizumab in advanced solid tumors at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting; (ii) published mechanism of action data highlighting the increased potency of the molecule against prostaglandin-driven tumor models in Cancer Research Communications, a journal of the American Association for Cancer Research; and (iii) continued enrollment of an endometrial cancer-specific arm investigating the two highest doses of TPST-1495 in combination with pembrolizumab.Story continuesPotential Upcoming Milestones TPST-1120 (clinical PPARα antagonist): we expect to be able to discuss an updated and comprehensive data set from the formal review of the ongoing, global, randomized Phase 1b/2 study in first-line liver cancer patients in the second half of 2023.TPST-1495 (clinical dual EP2/4 prostaglandin receptor antagonist): we plan to report data from the combination arm at the two highest TPST-1495 doses in patients with advanced endometrial cancer in 2024.TREX1 Inhibitor (preclinical tumor-selective STING pathway activator): we expect to advance new proprietary small molecule series TREX1 inhibitors generated through insights resulting from human TREX1-inhibitor co-crystal structures. Financial ResultsSecond Quarter 2023Tempest ended the second quarter with $17.6 million in cash and cash equivalents, compared to $31.2 million on December 31, 2022.Net loss and net loss per share for the quarter ended June 30, 2023 were $7.6 million and $0.54, respectively, compared to $9.2 million and $0.79, respectively, for the same period in 2022.Research and development expenses for the quarter ended June 30, 2023 were $4.4 million compared to $5.7 million for the same period in 2022. The decrease was primarily due to a decrease in costs incurred from contract research organizations and third-party vendors, partially offset by an increase in personnel costs, as well as facilities expenses.General and administrative expenses for the quarter ended June 30, 2023 were $3.1 million. The decrease was primarily due to a decrease in consulting and professional expenses.Year-to-DateNet cash used in operations for the six months ended June 30, 2023 was $14.7 million.Net loss and net loss per share for the six months ended June 30, 2023 were $15.2 million and $1.09, respectively, compared to $17.7 million and $1.88, respectively, for the same period in 2022.Research and development expenses for the six months ended June 30, 2023 were $9.1 million compared to $10.8 million for the same period in 2022. The $1.7 million decrease was primarily due to a decrease in costs incurred from contract research organizations and third-party vendors, partially offset by an increase in personnel costs, as well as facilities expenses.General and administrative expenses for the six months ended June 30, 2023 were $6.0 million compared to $6.2 million for the same period in 2022. The $0.2 million decrease was primarily due to a decrease in consulting and professional expenses.About Tempest TherapeuticsTempest Therapeutics is a clinical-stage oncology company advancing small molecules that combine both tumor-targeted and immune-mediated mechanisms with the potential to treat a wide range of tumors. The company has a diverse portfolio of novel programs ranging from early research to investigation in a randomized global study in first-line cancer patients. The company’s two clinical programs, TPST-1120 and TPST-1495, target PPARα and EP2/EP4, respectively, and are advancing through trials designed to study the agents as monotherapies and in combination with approved agents. Tempest is also developing an orally available inhibitor of TREX1, a target that controls activation of the cGAS/STING pathway. Tempest is headquartered in Brisbane, California. More information about Tempest can be found on the company’s website at www.tempesttx.com.Forward-Looking Statements This press release contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended (the “Securities Act”)) concerning Tempest Therapeutics, Inc. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Tempest Therapeutics, as well as assumptions made by, and information currently available to, management of Tempest Therapeutics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “could”, “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions. All statements that are not historical facts are forward-looking statements, including any statements regarding: the design, initiation, progress, timing, scope and results of clinical trials; anticipated therapeutic benefit and regulatory development of Tempest Therapeutic’s product candidates; the Company’s ability to deliver on potential value-creating milestones; the Company’s ability to achieve its operational plans. Forward-looking statements are based on information available to Tempest Therapeutics as of the date hereof and are not guarantees of future performance. Any factors may cause differences between current expectations and actual results, including: unexpected safety or efficacy data observed during preclinical or clinical trials; clinical trial site activation or enrollment rates that are lower than expected; changes in expected or existing competition; changes in the regulatory environment; and unexpected litigation or other disputes. Other factors that may cause actual results to differ from those expressed or implied are discussed in greater detail in the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 and other documents filed by the Company from time to time with the Securities and Exchange Commission. Except as required by applicable law, Tempest Therapeutics undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Tempest Therapeutics’ views as of any date subsequent to the date of this press release and should not be relied upon as prediction of future events. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of Tempest Therapeutics.    TEMPEST THERAPEUTICS, INC. Consolidated Balance Sheets (in thousands)          June 30, 2023  December 31, 2022 Assets      Current assets      Cash and cash equivalents $17,604  $31,230 Insurance recovery of legal settlement  -   450 Prepaid expenses and other current assets  931   1,270 Total current assets  18,535   32,950        Property and equipment, net  1,005   1,060 Operating lease right-of-use assets  10,804   11,650 Other noncurrent assets  398   429        Total assets $30,742  $46,089        Liabilities and Stockholders' Equity      Current liabilities      Accounts payable $868  $1,108 Accrued legal settlement  -   450 Accrued expenses and other  2,454   2,961 Current loan payable, net  2,974   - Current operating lease liabilities  1,414   1,413 Accrued compensation  823   1,248 Interest payable  105   97 Total current liabilities  8,638   7,277        Loan payable, net  7,484   10,371 Operating lease liabilities  9,608   10,330 Total liabilities  25,730   27,978        Stockholders' equity      Common stock  13   11 Additional paid-in capital  155,988   153,872 Accumulated deficit  (150,989)  (135,772)Total stockholders' equity  5,012   18,111 Total liabilities and stockholders' equity $30,742  $46,089   TEMPEST THERAPEUTICS, INC. Consolidated Statements of Operations (in thousands, except per share amounts)                             Three months ended  Three months ended  Six months ended  Six months ended   June 30, 2023  June 30, 2022  June 30, 2023  June 30, 2022 Expenses:            Research and development $4,416  $5,651  $9,094  $10,760 General and administrative  3,054   3,123   5,957   6,175              Total expenses  7,470   8,774   15,051   16,935              Operating loss  (7,470)  (8,774)  (15,051)  (16,935)             Other income (expense), net:            Interest expense  (355)  (464)  (699)  (797)Interest and other income, net  244   70   533   73              Net loss $(7,581) $(9,168) $(15,217) $(17,659)Net loss per share $(0.54) $(0.79) $(1.09) $(1.88) Investor Contacts:Sylvia WheelerWheelhouse Life Science [email protected] Reynolds Wheelhouse Life Science [email protected] If approved by the FDAii As of data cutoff date, February 8, 2023

GlobeNewswire

Tempest Reports Second Quarter 2023 Financial Results and Provides Business Update

https://finance.yahoo.com/news/tempest-reports-second-quarter-2023-201300883.html

f60bc0c8-3f9b-3cf2-a725-888959989cda

TPST

Tempest TherapeuticsBRISBANE, Calif., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage oncology company developing first-in-classi therapeutics that combine both targeted and immune-mediated mechanisms, announced today that Sam Whiting, M.D., Ph.D., chief medical officer of Tempest, will present at the H.C. Wainwright 25th Annual Global Investment Conference.The company presentation will be available for on-demand viewing Monday, September 11, 2023, at 7:00 a.m. ET on the investor section of the Tempest website at https://ir.tempesttx.com.About Tempest TherapeuticsTempest Therapeutics is a clinical-stage oncology company advancing small molecules that combine both tumor-targeted and immune-mediated mechanisms with the potential to treat a wide range of tumors. The company has a diverse portfolio of novel programs ranging from early research to investigation in a randomized global study in first-line cancer patients. The company’s two clinical programs, TPST-1120 and TPST-1495, target PPARα and EP2/EP4, respectively, and are advancing through trials designed to study the agents as monotherapies and in combination with approved agents. TPST-1120 is currently being evaluated in first line hepatocellular carcinoma (HCC) in combination with atezolizumab and bevacizumab, the standard of care for first-line HCC, in a Phase 1b/2 randomized global study where an early data cut demonstrated positive results in multiple categories; the company expects the formal data set in the second half of 2023. TPST-1495 is being evaluated in combination with pembrolizumab in a Phase 1b expansion cohort in patients with advanced endometrial cancer. Tempest is also developing an orally available inhibitor of TREX1, a target that controls activation of the cGAS/STING pathway. Tempest is headquartered in Brisbane, California. More information about Tempest can be found on the company’s website at www.tempesttx.com.Investor Contacts:Sylvia WheelerWheelhouse Life Science [email protected] continuesAljanae Reynolds Wheelhouse Life Science [email protected]________________________i If approved by the FDA

GlobeNewswire

Tempest to Present at the H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/tempest-present-h-c-wainwright-120000372.html

4e097235-daaa-3d99-a01d-d053e372e56e

TPX

Tempur Sealy International, Inc. (NYSE:TPX) stock is about to trade ex-dividend in four days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. Meaning, you will need to purchase Tempur Sealy International's shares before the 16th of August to receive the dividend, which will be paid on the 31st of August.The company's next dividend payment will be US$0.11 per share, and in the last 12 months, the company paid a total of US$0.44 per share. Based on the last year's worth of payments, Tempur Sealy International has a trailing yield of 1.0% on the current stock price of $45.62. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. So we need to check whether the dividend payments are covered, and if earnings are growing. See our latest analysis for Tempur Sealy International 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. Tempur Sealy International is paying out just 17% of its profit after tax, which is comfortably low and leaves plenty of breathing room in the case of adverse events. 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. It distributed 27% of its free cash flow as dividends, a comfortable payout level for most companies.It's positive to see that Tempur Sealy International's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.Story continuesClick here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. That's why it's comforting to see Tempur Sealy International's earnings have been skyrocketing, up 23% per annum for the past five years. Tempur Sealy International is paying out less than half its earnings and cash flow, while simultaneously growing earnings per share at a rapid clip. This is a very favourable combination that can often lead to the dividend multiplying over the long term, if earnings grow and the company pays out a higher percentage of its earnings.The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Tempur Sealy International has delivered 25% dividend growth per year on average over the past two years. It's great to see earnings per share growing rapidly over several years, and dividends per share growing right along with it.To Sum It UpIs Tempur Sealy International an attractive dividend stock, or better left on the shelf? Tempur Sealy International has been growing earnings at a rapid rate, and has a conservatively low payout ratio, implying that it is reinvesting heavily in its business; a sterling combination. There's a lot to like about Tempur Sealy International, and we would prioritise taking a closer look at it.With that in mind, a critical part of thorough stock research is being aware of any risks that stock currently faces. To help with this, we've discovered 2 warning signs for Tempur Sealy International that you should be aware of before investing in their 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.

Be Sure To Check Out Tempur Sealy International, Inc. (NYSE:TPX) Before It Goes Ex-Dividend

https://finance.yahoo.com/news/sure-check-tempur-sealy-international-100110765.html

89a42b3f-7885-338d-8c76-59600a63ad5a

TPX

LEXINGTON, Ky., Sept. 8, 2023 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX, "Company" or "Tempur Sealy") announced today that it will participate in a fireside chat at the Piper Sandler Growth Frontiers Conference on September 12, 2023.Date: September 12, 2023Time: 10:00 a.m. ET / 9:00 a.m. CTPresenter: Scott Thompson, Chairman, President and CEOThe fireside chat is being webcast and will be accessible on the Company's investor relations website at investor.tempursealy.com. Time listed is subject to change.About Tempur Sealy International, Inc.Tempur Sealy is committed to improving the sleep of more people, every night, all around the world. As a leading designer, manufacturer, distributor and retailer of bedding products worldwide, we know how crucial a good night of sleep is to overall health and wellness. Utilizing over a century of knowledge and industry-leading innovation, we deliver award-winning products that provide breakthrough sleep solutions to consumers in over 100 countries.Our highly recognized brands include Tempur-Pedic®, Sealy® and Stearns & Foster® and our popular non-branded offerings consist of value-focused private label and OEM products. At Tempur Sealy we understand the importance of meeting our customers wherever and however they want to shop and have developed a powerful omni-channel retail strategy. Our products allow for complementary merchandising strategies and are sold through third-party retailers, our 700+ Company-owned stores worldwide and our e-commerce channels.  With the range of our offerings and variety of purchasing options, we are dedicated to continuing to turn our mission to improve the sleep of more people, every night, all around the world into a reality.Importantly, we are committed to carrying out our global responsibility to protect the environment and the communities in which we operate. As part of that commitment, we have established the goal of achieving carbon neutrality for our global wholly owned operations by 2040.Story continuesInvestor Relations Contact Aubrey Moore Investor Relations Tempur Sealy International, Inc. [email protected] original content:https://www.prnewswire.com/news-releases/tempur-sealy-to-present-at-financial-conference-301922028.htmlSOURCE Tempur Sealy International, Inc.

PR Newswire

Tempur Sealy to Present at Financial Conference

https://finance.yahoo.com/news/tempur-sealy-present-financial-conference-200100214.html

b2cf63ae-d7fd-3eb9-8390-81a1a703cfcb

TREX

Announces 5-Year Net Sales, EBITDA and EBITDA Margin TargetsWINCHESTER, Va., September 07, 2023--(BUSINESS WIRE)--Trex Company, Inc. (NYSE:TREX), the world’s #1 brand of high-performance, low-maintenance and eco-friendly composite decking and railing and a leader in outdoor living products, today hosted its previously announced 2023 Investor Day in New York, NY.At the event, President and CEO, Bryan Fairbanks laid out the company’s five-year financial targets for organic growth:For Full Year 2028Net sales of $1.8 billion to $1.9 billionEBITDA doubling to $600 million+EBITDA margin of improvement of 500 bps to approximately 34%A copy of the Investor Day presentation including these details is available in the "Investor Relations" section of the Company’s website."As the industry leader, Trex continues to capitalize on its key competitive advantages, namely our unparalleled brand recognition, our exceptional distribution and channel partner network, and our industry-leading, low-cost manufacturing operation. Our five-year growth targets are supported by the ongoing strength of the outdoor living category, accelerated conversion from wood, substantial growth opportunities in railing, as well as expansion of our comprehensive product portfolio that includes fasteners, cladding, and fencing, together with the substantial leverage inherent in the Trex business model," Mr. Fairbanks noted.About Trex CompanyFor more than 30 years, Trex Company [NYSE: TREX] has invented, reinvented and defined the composite decking category. Today, the Company is the world’s #1 brand of sustainably made, wood-alternative decking and deck railing – all proudly manufactured in the U.S.A. – and a leader in high performance, low-maintenance, eco-friendly outdoor living products. Trex boasts the industry’s strongest distribution network with products sold through more than 6,700 retail outlets across six continents. Through strategic licensing agreements, the Company offers a comprehensive outdoor living portfolio that includes deck drainage, flashing tapes, LED lighting, outdoor kitchen components, pergolas, spiral stairs, lattice, cornhole and outdoor furniture – all marketed under the Trex® brand. Based in Winchester, Va., Trex is proud to have been named 2023 America’s Most Trusted® Decking Brand* and one of 2022’s 50 Best U.S. Manufacturers by Industry Week. For more information, visit trex.com. You also can follow Trex on LinkedIn (https://www.linkedin.com/company/trex-company/), X (@Trex_Company), Instagram (@trexcompany), Pinterest (trexcompany) or Houzz (trexcompany-inc), "like" Trex on Facebook (@TrexCompany) or view product and demonstration videos on the brand’s YouTube channel (TheTrexCo).Story continues*2023 DISCLAIMER: Trex received the highest numerical score in the proprietary Lifestory Research 2023 America’s Most Trusted® Outdoor Decking study. Study results are based on experiences and perceptions of people surveyed. Your experiences may vary. Visit www.lifestoryresearch.com.Use of Non-GAAP InformationThe financial target information provided in this press release includes the forward-looking non-GAAP financial measures of earnings before interest, taxes, depreciation and amortization (EBITDA) and EBITDA as a percentage of net sales (EBITDA margin), which management uses in measuring performance. The Company believes non-GAAP EBITDA and EBITDA margin provide useful information to investors and others in understanding and evaluating its results of operations, as well as provides a useful measure for period-to-period comparisons of the Company’s business performance. The Company calculates forward-looking non-GAAP EBITDA and EBITDA margin based on internal forecasts that omit certain amounts that would be included in forward-looking GAAP net income (loss). The Company is not able to provide a reconciliation of forward-looking non-GAAP EBITDA and EBITDA margin guidance to forward-looking GAAP net income (loss) because forecasting the exact timing or impact of items, including without limitation, the impact of macroeconomic, industry and operational changes through 2028, that have not yet occurred and are out of its control is inherently uncertain and unavailable without unreasonable efforts. Further, the Company believes that such reconciliations would imply a degree of precision and certainty that could be confusing to investors and could have a substantial impact on GAAP measures of financial performance.Forward-Looking StatementsThe statements in this press release regarding the Company’s expected future performance and condition constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company’s actual operating results to differ materially. Such risks and uncertainties include, but are not limited to: the extent of market acceptance of the Company’s current and newly developed products; the costs associated with the development and launch of new products and the market acceptance of such new products; the sensitivity of the Company’s business to general economic conditions; the impact of seasonal and weather-related demand fluctuations on inventory levels in the distribution channel and sales of the Company’s products; the availability and cost of third-party transportation services for the Company’s products; the Company’s ability to obtain raw materials at acceptable prices; increasing inflation in the macro-economic environment; the Company’s ability to maintain product quality and product performance at an acceptable cost; the level of expenses associated with product replacement and consumer relations expenses related to product quality; the highly competitive markets in which the Company operates; cyber-attacks, security breaches or other security vulnerabilities; the impact of upcoming data privacy laws and the EU General Data Protection Regulation and the related actual or potential costs and consequences; material adverse impacts from global public health pandemics and global conflicts; and material adverse impacts related to labor shortages or increases in labor costs. It is routine for the Company’s internal projections and expectations to change as the year or years progress, and therefore it should be clearly understood that the internal projections, beliefs and assumptions upon which the Company based its financial targets disclosed in this press release may change prior to the end of the period included in the guidance provided. Documents filed with the U.S. Securities and Exchange Commission by the Company, including in particular its latest annual report on Form 10-K and quarterly reports on Form 10-Q, discuss some of the important factors that could cause the Company’s actual results to differ materially from those expressed or implied in these forward-looking statements. The Company expressly disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906548724/en/ContactsLynn Morgen/Viktoriia NakhlaADVISIRY Partners 212-750-5800

Business Wire

Trex Company Hosts Investor Day in New York

https://finance.yahoo.com/news/trex-company-hosts-investor-day-201500547.html

237dc5eb-3e7a-3bb6-8ba1-4a871db0c7a3

TREX

In this article, we discuss 13 best stocks to invest in, according to AI. If you want to skip our detailed discussion on how valuable AI can prove to be in the financial and stock trading industry, head directly to 5 Best Stocks To Invest In According to AI.The abundance of posts claiming that ChatGPT, an AI-powered chatbot, has beaten the stock market highlights the significant variation in its responses based on input. It's important to appreciate and leverage the diverse possibilities AI offers. For instance, when Bloomberg asked ChatGPT to create an ETF to outperform the US stock market, it simply reiterated the standard disclaimer that past performance doesn't guarantee future results and that beating the market due to its high volatility is improbable.However, experts have managed to coax ChatGPT into providing lists of stocks by posing as expert stock advisors. Investors have explored using AI to gain an edge in the market, with some researchers claiming high success rates for short-term predictions using machine learning models based on trading data. A group of stocks chosen by ChatGPT has shown significantly better performance than some of the most popular investment funds in the UK.Finder.com, a financial comparison site, tasked ChatGPT with constructing a stock portfolio aimed at surpassing some of the United Kingdom's most favored funds, including Fundsmith, Vanguard LifeStrategy 100% Equity A Acc, Vanguard LifeStrategy 80% Equity A Acc, and Vanguard FTSE Glb All Cp Idx £ Acc, among others. Over an eight-week period, the ChatGPT-generated portfolio of 38 stocks gained 4.9% during the initial 11 weeks since its creation on March 6, 2023, while ten leading investment funds in the UK experienced an average loss of 0.8%, according to CNN. This performance notably outpaced the performance of the top 10 most popular UK funds, which experienced a decline of 0.12% over the same period. For the purposes of this article, we have chosen 12 stocks from ChatGPT's portfolio that garnered the highest interest from hedge fund investors.Story continuesAI's influence on stock markets has become substantial, leading to comparisons with the surges witnessed in cryptocurrency and the dot-com era. Companies increasingly use buzzwords like "generative AI," "large language models," and "artificial intelligence" during earnings calls and meetings, resulting in a substantial 85% increase in the use of the term "artificial intelligence" during such events. This heightened focus on AI often drives up stock prices when companies announce plans to integrate AI into their operations, even among non-tech firms like Wendy's, which experienced stock price gains after revealing AI-driven cost-cutting plans.Although traditional investment funds have been using AI for years, ChatGPT makes this technology accessible to the general public, potentially influencing retail investors' decisions. A survey by Finder.com found that 8% of UK adults had already used ChatGPT for financial advice, and 19% were considering doing so.However, 35% of respondents indicated that they would not consider using the chatbot for financial decisions. Douglas Boneparth, a certified financial planner and the president and founder of Bone Fide Wealth, explains to CNBC Make It that ChatGPT is certainly not a tool that can help you outperform the stock market in any way. While AI can process vast amounts of data and make some accurate stock picks, its long-term performance remains uncertain. Additionally, the limitations of AI, such as outdated knowledge and an inability to understand individual preferences, make it unsuitable for replacing human financial advisors.Despite its potential, experts advise caution and recommend conducting individual research or consulting a qualified financial adviser when making investment decisions, as it may be too early to fully trust AI with financial matters. Instead, ChatGPT and similar AI tools can be valuable for looking up financial terms and gathering data during research. For emotionally-driven financial decisions or those involving personal preferences, human financial advisors are better equipped to provide tailored guidance and empathetic support, areas where AI currently falls short. Nonetheless, the democratization of AI is seen as a disruptive force in the financial industry.The current market performance and the hype created by AI technology can be a motivator for investors to consider the best investments according to AI. Ergo, investors looking to diversify their portfolios by investing in these stocks can check our list, which includes Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG).Our MethodologyWe selected the best stocks to invest in according to AI based consensus picks from credible sources. We have calculated the performance of each stock from the day its source was published, to date. We also assessed the hedge fund sentiment from Insider Monkey’s database of 910 elite hedge funds tracked as of the end of the second quarter of 2023. The list is arranged in ascending order of the number of hedge fund investors in each firm.13 Best Stocks To Invest In According To AIPhoto by lucas law on UnsplashBest Stocks To Invest In According to AI13. Parsons Corporation (NYSE:PSN)Number of Hedge Fund Holders: 15Share price performance from August 17 to September 7: 2.81% Parsons Corporation (NYSE:PSN) delivers integrated solutions and services within the defense, intelligence, and critical infrastructure sectors across North America, the Middle East, and worldwide. The company operates through two divisions: Federal Solutions and Critical Infrastructure. On August 02, Parsons Corporation (NYSE:PSN) reported a Q2 GAAP EPS of $0.38, beating Wall Street estimates by $0.10. The revenue of $1.36 billion increased 34% year-on-year, surpassing market estimates by $230 million.The share price for Parsons Corporation (NYSE:PSN) has increased by 2.81% since August 17, hinting that this can be a good investment option this year. According to Insider Monkey’s second quarter database, 15 hedge funds were bullish on Parsons Corporation (NYSE:PSN), compared to 12 in the previous quarter. Ken Griffin’s Citadel Investment Group is the top stakeholder of the firm, with 565,006 shares, valued at approximately $27.2 million.Like Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG), Parsons Corporation (NYSE:PSN) is one of the best AI stocks to monitor.12. ChampionX Corporation (NASDAQ:CHX)Number of Hedge Fund Holders: 24Share price performance from August 17 to September 7: 7.02%ChampionX Corporation (NASDAQ:CHX) offers chemical solutions and specialized equipment and technologies to global oil and gas firms. The company is organized into four divisions: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies. On July 24, ChampionX Corporation (NASDAQ:CHX) reported a Q2 non-GAAP EPS of $0.49, beating Wall Street estimated by $0.05. The revenue of $926.6 million decreased by 0.6%, missing market estimates by $54.91 million.AI has picked this stock as one of the best stocks to invest in, according to a source published on August 17. Since then to date, the stock has seen an increase of almost 7% in its value.According to Insider Monkey’s second quarter database, 24 hedge funds were bullish on ChampionX Corporation (NASDAQ:CHX), one down from the last quarter. Jeffrey Gates’ Gates Capital Management is the top stakeholder of the firm, with 4.17 million shares, valued at approximately $129 million.Alger Small Cap Focus Fund made the following comment about ChampionX Corporation (NASDAQ:CHX) in its Q4 2022 investor letter:“ChampionX Corporation (NASDAQ:CHX) provides equipment and services that assist in the drilling. completion and production phases of well drilling. The company also provides production and reservoir chemicals, along with highly engineered equipment and technologies, such as artificial lift and drill bit inserts, for the oil and gas industry. Notably, ChampionX has a global footprint and favorable product mix, where its chemicals and artificial lift businesses are tied to the production phase of the life of a well. We believe this produces lower earnings variability and potentially stronger operating results. Shares outperformed during the quarter as the company reported strong fiscal third quarter results and gave better-than-expected fourth quarter guidance. Moreover, the company expanded its capital return program by committing to return 60% of its free cash flow (FCF) to shareholders through opportunistic buybacks. Management also raised its share buyback authorization program from $250m to $750m over next 2 to 3 years. We believe the company is well positioned to deliver strong revenue growth, driven by their production focused Performance Chemicals business, which may lead to margin improvement and FCF generation.”11. Chart Industries (NYSE:GTLS)Number of Hedge Fund Holders: 37Share price performance from August 2 to September 7: 4.84%Chart Industries (NYSE:GTLS) produces and markets specialized cryogenic equipment for both the industrial gas and clean energy sectors, serving customers in the United States and around the world. The company is structured into four distinct divisions: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. On February 24, Chart Industries (NYSE:GTLS) reported a Q4 non-GAAP EPS of $1.67, missing Wall Street estimates by $0.03. The revenue of $441.4 million increased 16.5% year-over-year, missing market estimates by $49.48 million.As of August 02, Chart Industries (NYSE:GTLS) has seen a 4.84% increase in stock price. According to Insider Monkey’s second quarter database, 37 hedge funds were bullish on Chart Industries (NYSE:GTLS), as compared to 43 in the prior quarter. Franklin Parlamis’s Aequim Alternative Investments is the top stakeholder of the firm, with 740,000 shares, valued at approximately $48.2 million.Aristotle Atlantic Large Cap Growth Strategy made the following comment about Chart Industries, Inc. (NYSE:GTLS) in its Q1 2023 investor letter:“Chart Industries, Inc. (NYSE:GTLS) is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Its unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart’s customers are mainly large, multinational producers and distributors of hydrocarbon and industrial gases. The company generates about half its sales in North America.We see Chart Industries as a leading manufacturer of highly engineered cryogenic solutions that are used for the production and storage of industrial gases. With the exposure to energy end markets including liquified natural gas (LNG), compressed natural gas (CNG) and hydrogen, the company has the technology to ship gas from oversupplied markets to markets that do not have access to enough energy resources. Hydrogen is gaining traction as a renewable fuel due to the focus on climate change. The recent acquisition of Howden is complementary to Chart’s existing product and service offerings.10. Waste Management (NYSE:WM)Number of Hedge Fund Holders: 39Share price performance from August 17 to September 7: -1.59%Waste Management (NYSE:WM) and its subsidiary companies specialize in delivering environmental solutions to customers in the residential, commercial, industrial, and municipal sectors across the United States and Canada. On August 21, Waste Management (NYSE:WM) declared a quarterly dividend of $0.70 per share, in line with previous. The dividend will be distributed on September 22, to shareholders of record on September 08.As of August 17, Waste Management (NYSE:WM) has seen a decline of 1.59% in stock performance, indicating that AI stock picks might not always be the best ones to invest in. According to Insider Monkey’s second quarter database, 39 hedge funds were bullish on Waste Management (NYSE:WM), as compared to 43 in the prior quarter. Michael Larson’s Bill & Melinda Gates Foundation Trust is the top stakeholder of the firm, with 35.2 million shares, valued at approximately $6.11 billion.9. Trex Company Inc. (NYSE:TREX)Number of Hedge Fund Holders: 43Share price performance from August 17 to September 7: 2.70%Trex Company Inc. (NYSE:TREX) produces and markets composite decking, railing, and outdoor living items and accessories designed for both residential and commercial markets within the United States. The company is divided into two segments: Trex Residential and Trex Commercial. On July 31, Trex Company Inc. (NYSE:TREX) reported a Q2 GAAP EPS of $0.71, beating market estimates by $0.17. The revenue of $357 million dropped 7.6% year-over-year, surpassing market estimates by $38.11 million.As of August 17, the share price performance of Waste Management (NYSE:WM) has seen a rise of 2.70%, hinting at the probability of this stock being a good investment option. According to Insider Monkey’s second quarter database, 43 hedge funds were bullish on Trex Company Inc. (NYSE:TREX), as compared to 30 in the prior quarter. Steve Cohen’s Point72 Asset Management is the top stakeholder of the firm, with 1.34 million shares, valued at approximately $88 million.​​Conestoga Smid Strategy made the following comment about Trex Company, Inc. (NYSE:TREX) in its second quarter 2023 investor letter:“Trex Company, Inc. (NYSE:TREX): TREX is a market share leader in the manufacturing and distribution of composite decking that is sold in the residential market. TREX reported solid results in 1Q23 with better margins and with guidance for 2Q23 that was higher than street expectations. The stock rallied during the quarter given the solid results, a normalization of inventory in the channel, and the recent introduction of several exciting new products.”8. CME Group Inc. (NASDAQ:CME) Number of Hedge Fund Holders: 55Share price performance from August 17 to September 7: -0.18%Based in Chicago, CME Group Inc. (NASDAQ:CME) manages financial derivatives exchanges such as the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, and The Commodity Exchange. Additionally, the company holds a 27% ownership stake in S&P Dow Jones Indices. On July 26, CME Group Inc. (NASDAQ:CME) reported a Q2 non-GAAP EPS of $2.30, beating Wall Street estimates by $0.11. The revenue of $1.36 billion increased 9.9% year-over-year, surpassing market estimates by $20 million.As of August 17, the share price performance of CME Group Inc. (NASDAQ:CME) has seen a drop of 0.18%. This drop is not significant enough to label the stock as a poor investment choice, and the almost 10% revenue growth year-over-year backs that assessment. According to Insider Monkey’s second quarter database, 55 hedge funds were bullish on CME Group Inc. (NASDAQ:CME), same as the last quarter. Guardian Capital’s GuardCap Asset Management is the top stakeholder of the firm, with 4.24 million shares, valued at approximately $785 million.VGI Partners made the following comment about CME Group Inc. (NASDAQ:CME) in its second quarter 2023 investor letter:“CME Group Inc. (NASDAQ:CME) operates futures and derivatives exchanges, including the Chicago Mercantile Exchange, the New York Mercantile Exchange, the Chicago Board of Trade, and the Dow Jones Index Services. On top of this, CME also owns other key assets related to foreign exchange trading & infrastructure and a strategic shareholding in Standard & Poor’s (S&P) Index business.The key driver of trading activity for CME is in its interest rate derivatives products, where it has an effective monopoly in the exchange trading of interest rate derivatives in the United States, through its benchmark products across the entirety of the interest rate curve. Demand for interest rate derivatives is driven by volatility in interest rate markets, whose effect is compounded by the number of bonds held by those looking to manage interest rate risk and, by extension, market liquidity. The below chart of average daily volumes of interest rate derivatives and US Federal debt held by the public illustrates the extremely strong relationship between the size of the US Treasury market and volumes growth, although there are deviations around this primarily around Fed intervention (for example, at the start of the pandemic, volumes were suppressed by an enormous amount of Quantitative Easing (QE) and effectively zero interest rates which reduced the demand for hedging products). We expect the growth in the size of the US Treasury market, particularly in relation to privately held US treasuries as the Fed undergoes a balance sheet unwind, to remain a powerful underpinning of CME’s interest rate derivatives business…” (Click here to read the full text)7. Exxon Mobil Corporation (NYSE:XOM)Number of Hedge Fund Holders: 71Share price performance from August 17 to September 7: 5.64%Exxon Mobil Corporation (NYSE:XOM) is involved in the exploration and extraction of crude oil and natural gas, both domestically in the United States and on a global scale. The company's operations are categorized into four segments: Upstream, Energy Products, Chemical Products, and Specialty Products. On July 28, Exxon Mobil Corporation (NYSE:XOM) reported a Q2 non-GAAP EPS of $1.94 missing b Wall Street estimates by $0.08. The revenue of $82.91 billion decreased 28.3% year-over-year, missing market estimates by $7.41 million.As of August 17, the share price performance of Exxon Mobil Corporation (NYSE:XOM) has seen a rise of 5.64%, indicating that this might be a good stock to invest in within the current stock market landscape. According to Insider Monkey’s second quarter database, 71 hedge funds were bullish on Exxon Mobil Corporation (NYSE:XOM), two less than the previous quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the top stakeholder of the firm, with 13.33 million shares, worth approximately $1.43 billion. 6. Micron Technology, Inc. (NASDAQ:MU)Number of Hedge Fund Holders: 86Share price performance from August 2 to September 7: 3.29%Micron Technology, Inc. (NASDAQ:MU) is a global company specializing in the design, creation, production, and sale of memory and storage solutions. The company is structured into four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit, each catering to distinct markets and needs. On June 28, Micron Technology, Inc. (NASDAQ:MU) reported a Q3 non-GAAP EPS of -$1.43, beating Wall Street estimates of $0.14. The revenue of $3.75 billion dropped by a whopping 56.6% year-over-year, surpassing market estimates by $70 million.As of August 2, the share price performance of Micron Technology, Inc. (NASDAQ:MU) has seen a hike of 3.29%, indicating that this might be a good stock to invest in within the current stock market landscape. According to Insider Monkey’s second quarter database, 86 hedge funds were bullish on Micron Technology, Inc. (NASDAQ:MU), as compared to 73 in the previous quarter. Ken Griffin’s Citadel Investment Group is the top stakeholder of the firm, with 6.73 million shares, worth approximately $424.6 million.In addition to Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG), Micron Technology, Inc. (NASDAQ:MU) is one of the top AI stocks to watch.Here is what Claret Asset Management has to say about Micron Technology, Inc. (NASDAQ:MU) in its Q3 2022 investor letter:“Inflation is still higher than interest rates… not an incentive to save for most people. Either inflation must come down or interest rates have to go up further. Or both. And probably both. Now that they are taking the punch bowl away and the party is over, what happens next? For whatever reason, the stock market seems to always precede the economic reality: Micron reached a high of $98.45 on January 5th, 2022 and is trading at $50.00 today.”   Click to continue reading and see 5 Best Stocks To Invest In According to AI. Suggested articles:10 Biotech Stocks with Biggest UpsideiOS vs Android Market Share by Country: Top 30 Countries Using iPhones20 Most Popular Dating Apps In The US Disclosure: None. 13 Best Stocks To Invest In According to AI is originally published on Insider Monkey.

Insider Monkey

13 Best Stocks To Invest In According to AI

https://finance.yahoo.com/news/13-best-stocks-invest-according-142817979.html

fcec758b-51f7-30f8-a22f-2f9cca0d90fd

TRGP

Key InsightsUsing the 2 Stage Free Cash Flow to Equity, Targa Resources fair value estimate is US$104With US$87.53 share price, Targa Resources appears to be trading close to its estimated fair value The US$101 analyst price target for TRGP is 3.4% less than our estimate of fair valueIn this article we are going to estimate the intrinsic value of Targa Resources Corp. (NYSE:TRGP) by estimating the company's future cash flows and discounting them to their present value. This will be done using the Discounted Cash Flow (DCF) model. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model. View our latest analysis for Targa Resources What's The Estimated Valuation?We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:Story continues10-year free cash flow (FCF) forecast2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$915.9mUS$1.81bUS$1.64bUS$1.82bUS$1.95bUS$2.07bUS$2.16bUS$2.25bUS$2.32bUS$2.39bGrowth Rate Estimate SourceAnalyst x7Analyst x4Analyst x1Analyst x1Est @ 7.26%Est @ 5.73%Est @ 4.66%Est @ 3.90%Est @ 3.38%Est @ 3.01% Present Value ($, Millions) Discounted @ 10.0% US$833US$1.5kUS$1.2kUS$1.2kUS$1.2kUS$1.2kUS$1.1kUS$1.1kUS$988US$925("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$11bWe now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 10.0%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$2.4b× (1 + 2.2%) ÷ (10.0%– 2.2%) = US$31bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$31b÷ ( 1 + 10.0%)10= US$12bThe total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$23b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of US$87.5, the company appears about fair value at a 16% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.dcfThe AssumptionsWe would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Targa Resources 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 10.0%, which is based on a levered beta of 1.563. 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 Targa ResourcesStrengthEarnings growth over the past year exceeded the industry.Debt is well covered by earnings and cashflows.Dividends are covered by earnings and cash flows.WeaknessDividend is low compared to the top 25% of dividend payers in the Oil and Gas market.OpportunityAnnual earnings are forecast to grow faster than the American market.Current share price is below our estimate of fair value.ThreatAnnual revenue is forecast to grow slower than the American market.Looking Ahead:Whilst important, the DCF calculation ideally won't be the sole piece of analysis you scrutinize for a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Targa Resources, there are three relevant items you should consider:Risks: For instance, we've identified 3 warning signs for Targa Resources that you should be aware of.Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for TRGP's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors.Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

A Look At The Fair Value Of Targa Resources Corp. (NYSE:TRGP)

https://finance.yahoo.com/news/look-fair-value-targa-resources-164737865.html

bafe5d57-7497-3ad7-9cb1-38d196472a89

TRGP

Targa Resources Corp.HOUSTON, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the following investor conferences in New York City, NY:Barclays CEO Energy-Power Conference on Wednesday, September 6, 2023; andMUFG Oil & Gas Conference on Thursday, September 7, 2023.A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events.About Targa Resources Corp.Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.Targa is a FORTUNE 500 company and is included in the S&P 500.For more information, please visit the Company’s website at www.targaresources.com.Regulation FD Disclosures We use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.targaresources.com, including information that may be deemed to be material. We encourage investors and others interested in the company to monitor these distribution channels for material disclosures.Story continuesForward-Looking StatementsCertain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance and capital spending. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics or any other public health crises, commodity price volatility due to ongoing or new global conflicts, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, the timing and success of business development efforts and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.Contact the Company's investor relations department by email at [email protected] or by phone at (713) 584-1133.Sanjay LadVice President, Finance & Investor RelationsJennifer KnealeChief Financial Officer

GlobeNewswire

Targa Resources Corp. to Participate in Investor Conferences

https://finance.yahoo.com/news/targa-resources-corp-participate-investor-110000790.html

1926c57d-2724-381e-938e-7f904209ee24

TRMB

Latest Report Demonstrates Trimble's Continued Commitment to "Shaping a Sustainable Future" Through Building Resilience, Empowering People and Leading with IntegrityWESTMINSTER, Colo., Aug. 31, 2023 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced today the publication of its 2022 Sustainability Report, featuring progress and milestones as part of its sustainability strategy.Trimble Releases 2022 Sustainability ReportBuilt around the company living its values and mission of transforming the way the world works, the report features how Trimble is "Shaping a Sustainable Future" for our planet and the communities we serve. Trimble is also introducing a new way of communicating about its Environmental, Social and Governance (ESG) commitments—Building Resilience, Empowering People and Leading with Integrity—that reflect Trimble's approach to sustainability as part of its business strategy.2022 highlights include:Trimble published its first report aligned with the Task Force on Climate-Related Financial Disclosures (TCFD), a globally recognized reporting framework, which provides stakeholders with critical information on our operational climate risks and opportunities.Trimble implemented its executive long-term incentive program, adding a "People & Planet" modifier. This ensures that Trimble's executive compensation is aligned to its science-based carbon reduction and workforce diversity goals.Trimble entered into a new five-year $1.25 billion revolving credit facility that will help drive progress for two of Trimble's sustainability commitments: reducing the company's Greenhouse Gas (GHG) footprint and increasing gender diversity with more female representation in the workplace.Trimble made progress on its renewable electricity goal. The company is at 36 percent of its goal of 100 percent renewable electricity by 2025. Trimble has sourced energy from local producers in Germany, as well as from hydroelectricity plants in the US and on-site solar at several of our facilities worldwide.Trimble is helping to shape the global leaders for tomorrow with 28 Trimble Technology Labs (TTL) across 14 countries on 5 continents. In 2022, we celebrated our latest TTL at Edinburgh Napier University (ENU) with an inaugural Trimble TTL Conference. It welcomed more than 50 leading construction, geospatial and natural resources academics from around the world to participate in knowledge exchange and community building.Story continuesThe report summarizes Trimble's sustainability initiatives and performance, highlighting the company's sustainability approach; end-user industry solutions; community philanthropy through its Trimble Foundation Fund; employee engagement and development as well as Diversity, Equity and Inclusion (DEI) initiatives; and governance. The report's data aligns with the Sustainability Accounting Standards Board (SASB) standards for Electrical and Electronic Components and Software and IT Services. It also aligns with the United Nations Sustainable Development Goals (UN SDGs).About TrimbleDedicated to the world's tomorrow, Trimble is a technology company delivering solutions that enable our customers to work in new ways to measure, build, grow and move goods for a better quality of life. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products and enterprise lifecycle solutions to industry cloud services, Trimble is transforming critical industries such as construction, geospatial, agriculture and transportation to power an interconnected world of work. For more information about Trimble (NASDAQ: TRMB), visit: www.trimble.com.Safe HarborCertain statements made in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include, but are not limited to statements relating to our sustainability strategy, priorities and goals, targets, commitments and plans, as well as our expectations regarding the timing of meeting those goals, targets, commitments and plans. Actual results could vary materially from these forward-looking statements based on a number of factors and risks, including, but not limited to: third-party cooperation with our sustainability plans; the cost of attaining our targets, which may increase significantly causing us to reassess or delay achievement of our goals; the challenges associated with monitoring and quantifying achievement of our targets; the impact of continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; and the risk factors detailed from time to time in reports filed with the SEC, including our quarterly reports on Form 10-Q and annual report on Form 10-K. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.GTRMBCisionView original content to download multimedia:https://www.prnewswire.com/news-releases/trimble-releases-2022-sustainability-report-301914352.htmlSOURCE Trimble

PR Newswire

Trimble Releases 2022 Sustainability Report

https://finance.yahoo.com/news/trimble-releases-2022-sustainability-report-120000779.html

52910f13-267e-34c6-a908-97c1ffbe4e4c

TRMB

Let's talk about the popular Trimble Inc. (NASDAQ:TRMB). The company's shares saw a double-digit share price rise of over 10% in the past couple of months on the NASDAQGS. As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. However, could the stock still be trading at a relatively cheap price? Today I will analyse the most recent data on Trimble’s outlook and valuation to see if the opportunity still exists. View our latest analysis for Trimble Is Trimble Still Cheap?Good news, investors! Trimble is still a bargain right now. My valuation model shows that the intrinsic value for the stock is $78.94, which is above what the market is valuing the company at the moment. This indicates a potential opportunity to buy low. Although, there may be another chance to buy again in the future. This is because Trimble’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company's shares will likely fall by more than the rest of the market, providing a prime buying opportunity.Can we expect growth from Trimble?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. With profit expected to grow by 46% over the next couple of years, the future seems bright for Trimble. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation.What This Means For YouAre you a shareholder? Since TRMB is currently undervalued, it may be a great time to increase your holdings in the stock. With an optimistic outlook on the horizon, it seems like this growth has not yet been fully factored into the share price. However, there are also other factors such as financial health to consider, which could explain the current undervaluation.Story continuesAre you a potential investor? If you’ve been keeping an eye on TRMB for a while, now might be the time to enter the stock. Its buoyant future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy TRMB. But before you make any investment decisions, consider other factors such as the track record of its management team, in order to make a well-informed buy.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. To help with this, we've discovered 2 warning signs (1 is a bit unpleasant!) that you ought to be aware of before buying any shares in Trimble.If you are no longer interested in Trimble, 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.

Should You Investigate Trimble Inc. (NASDAQ:TRMB) At US$55.06?

https://finance.yahoo.com/news/investigate-trimble-inc-nasdaq-trmb-115915619.html

b7173114-d185-34ba-a24a-905e974b24d1

TRNS

Transcat, Inc. (TRNS) shares soared 9.1% in the last trading session to close at $109.55. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.9% gain over the past four weeks.Transcat is likely to benefit from healthy demand trends within the services segment, complemented by its recent acquisitions and strong performance from the low-margin distribution segment driven by a robust equipment rental program. The holistic growth model is expected to buoy margins backed by solid business mix and higher efficiency, resulting in improved operating leverage in the business.This company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +19.4%. Revenues are expected to be $61.74 million, up 9.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Transcat, Inc., the consensus EPS estimate for the quarter has been revised 6.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TRNS going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Transcat, Inc. is a member of the Zacks Instruments - Control industry. One other stock in the same industry, Sensata (ST), finished the last trading session 1% higher at $38.39. ST has returned -7.6% over the past month.For Sensata , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.90. This represents a change of +5.9% from what the company reported a year ago. Sensata currently has a Zacks Rank of #4 (Sell).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 reportTranscat, Inc. (TRNS) : Free Stock Analysis ReportSensata Technologies Holding N.V. (ST) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Transcat, Inc. (TRNS) Moves 9.1% Higher: Will This Strength Last?

https://finance.yahoo.com/news/transcat-inc-trns-moves-9-103500798.html

c0e93fde-5576-3015-bed2-bf8a121023a6

TRNS

At the moment the Zacks Instruments-Control Industry in is the top 1% of over 250 Zacks industries. While many of these companies may not be the first names investors think of among the broader technology sector demand for their services continues to grow. Furthermore, now looks like an ideal time to buy several stocks in the instruments-control space as they are standing out with a Zacks Rank #1 (Strong Buy).Badger Meter BMILongevity regarding essential business operations that correlate to steady growth is the main reason to consider Badger Meter’s stock.  This also reconfirms why a premium may be warranted for Badger Meter’s stock with the company providing flow measurement, control, and communication solutions to water and gas utilities, municipalities, and industrial customers worldwide.Badger Meter’s anticipated top and bottom line expansion has led to its stock soaring +50% this year to easily top the S&P 500’s +17% and the Nasdaq’s +31%. To that point, annual earnings are now expected to leap 26% in fiscal 2023 and rise another 8% in FY24 to $3.10 per share. On the top line, total sales are forecasted to climb 20% in FY23 and rise another 6% in FY24 to $717.39 million.Zacks Investment ResearchImage Source: Zacks Investment ResearchTranscat TRNSSteady but expansive growth prospects and a special niche in the Instruments-Control Industry make Transcat’s stock attractive.Transcat distributes test and measurement instruments along with providing accredited calibration services to a variety of markets including the life sciences, pharmaceutical, and petroleum refining industry among others.Largely outperforming the broader indexes, Transcat’s stock has soared +60% YTD with earnings projected to climb 18% in its current fiscal 2024 and jump another 16% in FY25 to $1.94 per share. Total sales are forecasted to rise 9% in FY24 and pop another 8% in FY25 to $274.36 million.Zacks Investment ResearchImage Source: Zacks Investment ResearchWoodward WWDAnother company with a unique niche as it relates to the Zacks Instrument-Controls Industry is Woodward. As a provider of energy control and optimization solutions, Woodward provides a number of products that serve the commercial aerospace, business jet, military, and energy markets.Story continuesWoodward’s stock has risen +37% this year to also edge the broader indexes. The company’s growth trajectory points to more upside with FY23 earnings now expected to skyrocket 51% at $4.15 per share compared to $2.75 a share last year. Plus, FY24 earnings are projected to rise another 9%.More intriguing and indicative of more short-term upside in Woodward stock is that over the last 60 days, FY23 and FY24 earnings estimates have soared 16% and 11% respectively.Zacks Investment ResearchImage Source: Zacks Investment ResearchIn regards to sales, Woodward is expecting 22% growth in FY23 and another 5% growth in FY24 with projections at $3.05 billion. It’s also noteworthy that Woodward offers a modest 0.68% dividend in an industry where most companies are focused on expansive growth and don’t offer a payout.Zacks Investment ResearchImage Source: Zacks Investment ResearchTakeaway With inflationary concerns starting to resurface, these highly-ranked Zacks Instruments-Control Industry stocks are very appealing. There will naturally be fears that many companies could still experience stalling growth associated with broader economic headwinds but these stocks appear to be ahead of the curve attributed to their growing business industry. 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 ReportBadger Meter, Inc. (BMI) : Free Stock Analysis ReportTranscat, Inc. (TRNS) : Free Stock Analysis ReportWoodward, Inc. (WWD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Highly Ranked Stocks to Buy Among a Booming Industry

https://finance.yahoo.com/news/highly-ranked-stocks-buy-among-002500779.html

a115b160-148f-38b7-8f2a-124e9485fe56

TROW

New Research Representing Defined Contribution and Retirement Viewpoints from 32 of the Nation's Leading Consulting and Advisory Firms Addresses Retirement Trends and Key Investment ThemesBALTIMORE, Sept. 6, 2023 /PRNewswire/ -- T. Rowe Price today released findings from its latest Defined Contribution Consultant Research Study. T. Rowe Price surveyed 32 defined contribution (DC) consultants and advisory firms—with a collective $6.7 trillion in assets under advisement—to explore factors driving plan sponsor decisions as they relate to target date solutions, retirement income, investment trends, and financial wellness programs.Several key themes emerged from the findings, including:Support for greater diversification opportunities within target date strategies, specifically within the fixed income allocation (e.g., adding exposure to nontraditional bonds);Plan sponsors adopting a more decision-oriented posture on retirement income solutions;Shaper focus on fixed income options due to the current interest rate environment;Support for both active and passive investment options, with high conviction in return-seeking fixed income strategies; andContinued motivation to invest in financial wellness programs to improve overall worker satisfaction and retention.QUOTESMichael Davis, Head of Defined Contribution plan specialists, T. Rowe Price, and former Deputy Assistant Secretary of the U.S. Department of Labor"Ongoing market volatility and economic uncertainty are driving changes in the retirement landscape, creating obstacles for the intermediary community, but also evolutionary opportunities for DC plans and consultant and advisory practices. This study helps us to better understand that evolution, especially as we compare the 2021 results to the 2023 findings. Fixed income markets are a perfect example – with tightening monetary conditions, higher interest rates, and inflation, it is not surprising that 62% of consultants and advisors surveyed agree with the statement, 'fixed income oversight for DC plans now requires more consideration than it did in prior years.'"Story continuesJessica Sclafani, Defined Contribution Specialist, T. Rowe Price"Data from this survey helps us put our fingertips on the pulse of what is important for our DC plan clients and their trusted consultants and advisors. An important learning from this year's survey was that the current market environment has created a unique opportunity for the industry to expand the way it thinks about offering participants exposure to fixed income, and more specifically, the types of fixed income made available—whether it's in a standalone investment or in multi-asset investment option. Fixed income has historically not received the same mindshare as equities, but amid the current interest rate environment, and with many plans experiencing an aging workforce, the time feels right to be talking about fixed income in DC plans. Another striking finding from this year's survey was DC plan sponsors' meaningful shift in sentiment with respect to in-plan retirement income solutions. On the whole, we observe plans evolving from an exploratory to a decision-oriented stance."KEY FINDINGSWhen looking at target date solutions, two key implementation developments received strong support – target date solutions offered in a collective investment trust (CIT) and target date solutions utilizing both active and passive underlying strategies. With respect to target date diversification, adding exposure to nontraditional bonds garnered the most interest from DC consultants. Despite the recent inflationary environment, study results reveal only moderate support for adding or increasing allocations to traditional inflation-sensitive strategies in target date portfolios.The survey shows that plan sponsors are taking a close look at retirement income; the 2021 DC Consultant Study showed consultants describe 59% of clients as "having no stated opinion" on in-plan retirement income solutions versus only 24% in 2023. Data also shows the percent of clients that consultants categorize as currently offering or planning to add a retirement income solution has more than doubled: 8% of clients in 2021 compared with 19% in 2023. Despite increasing retirement income product proliferation, survey respondents identify a simple systematic withdrawal capability as the most appealing strategy or solution for the delivery of retirement income.The evolving fixed income landscape has made it necessary for many consultants to sharpen their focus on the asset class– 78% report a greater focus on identifying opportunities for diversification within fixed income, whether it is across the credit spectrum or global yield curve, as well as by method of implementation (active or passive). Fixed income is also where respondents express the greatest conviction in active management. At least half of respondents selected active management as their preferred method of implementation for core plus bond/multi-sector, corporate bond (investment grade), international or global bond, low duration bond, and high yield bond strategies.Study respondents generally approve of the use of both active and passive investment strategies in DC plans overall. Most preferred both active and passive investment options for large-cap equity, small-/mid-cap equity, and international equity. Notably, more than half (52%) of respondents believe emerging markets equity is best implemented using active management.Additionally, research showed the primary motivation for plan sponsors to invest in financial wellness programs came from the desire to improve worker satisfaction and retention and reduce employee financial stress. The topics that matter most were improving overall financial knowledge and estimating retirement income needs – with 43% and 54% of respondents respectively believing that the importance of these issues has increased over the last 12 months.The Defined Contribution Research Study was conducted during Q1 2023. The executive summary is available here.ABOUT THE DEFINED CONTRIBUTION RESEARCH STUDYThe 2023 Defined Contribution Research Study was conducted by T. Rowe Price in partnership with Schaus Group. The study population includes 32 defined contribution consulting and advisory firms surveyed from February 14 to March 31, 2023. You may visit troweprice.com/dcio and refer to the 2023 Defined Contribution Research Study material for highlights from this study. Participating firms also received a custom report comparing their firm's responses to the aggregate responses.ABOUT T. ROWE PRICEFounded in 1937, T. Rowe Price (NASDAQ-GS: TROW) helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management approach of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price manages USD $1.43 trillion in assets under management as of July 31, 2023, and serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, Twitter, YouTube, and troweprice.com/newsroom.CisionView original content:https://www.prnewswire.com/news-releases/t-rowe-price-releases-latest-defined-contribution-consultant-research-study-301919366.htmlSOURCE T. Rowe Price Group, Inc.

PR Newswire

T. ROWE PRICE RELEASES LATEST DEFINED CONTRIBUTION CONSULTANT RESEARCH STUDY

https://finance.yahoo.com/news/t-rowe-price-releases-latest-143000703.html

a25f9248-4336-3967-8b0b-e47d4ccd0a5b

TROW

Readers hoping to buy T. Rowe Price Group, Inc. (NASDAQ:TROW) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. 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. Accordingly, T. Rowe Price Group investors that purchase the stock on or after the 14th of September will not receive the dividend, which will be paid on the 28th of September.The company's next dividend payment will be US$1.22 per share. Last year, in total, the company distributed US$4.88 to shareholders. Last year's total dividend payments show that T. Rowe Price Group has a trailing yield of 4.5% on the current share price of $109.24. If you buy this business for its dividend, you should have an idea of whether T. Rowe Price Group's dividend is reliable and sustainable. So we need to investigate whether T. Rowe Price Group can afford its dividend, and if the dividend could grow. View our latest analysis for T. Rowe Price Group 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. T. Rowe Price Group paid out more than half (72%) of its earnings last year, which is a regular payout ratio for most companies.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?Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. With that in mind, we're encouraged by the steady growth at T. Rowe Price Group, with earnings per share up 2.1% on average over the last five years.Story continuesThe main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. T. Rowe Price Group has delivered an average of 14% per year annual increase in its dividend, based on the past 10 years of dividend payments. We're glad to see dividends rising alongside earnings over a number of years, which may be a sign the company intends to share the growth with shareholders.The Bottom LineIs T. Rowe Price Group worth buying for its dividend? T. Rowe Price Group has been generating some growth in earnings per share while paying out more than half of its earnings to shareholders in the form of dividends. In sum this is a middling combination, and we find it hard to get excited about the company from a dividend perspective.Curious what other investors think of T. Rowe Price Group? See what analysts are forecasting, with this visualisation of its historical and future estimated earnings and cash flow.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.

Four Days Left To Buy T. Rowe Price Group, Inc. (NASDAQ:TROW) Before The Ex-Dividend Date

https://finance.yahoo.com/news/four-days-left-buy-t-120413625.html

3520fe85-06fb-3021-a478-f7f78133ffd4

TRST

TrustCo Bank Corp NYGLENVILLE, N.Y., Aug. 15, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on August 15, 2023, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis. The dividend will be payable on October 2, 2023 to shareholders of record at the close of business on September 1, 2023.Chairman, President, and Chief Executive Officer Robert J. McCormick said: “Offering industry-leading mortgage products enabled us to grow our total loans under challenging economic and market conditions. That loan growth is supported by deposit stability that is the product of deep Home-Town ties and strong customer relationships. We are very proud to maintain our century-long history of meaningful quarterly dividends.”About TrustCo Bank Corp NYTrustCo Bank Corp NY is a $6.1 billion savings and loan holding company. Through its subsidiary, Trustco Bank, Trustco operates 143 offices in New York, New Jersey, Vermont, Massachusetts and Florida. Trustco has a more than 100-year tradition of providing high-quality services, including a wide variety of deposit and loan products. In addition, Trustco Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. Trustco Bank is rated as one of the best performing savings banks in the country. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. For more information, visit www.trustcobank.com.Forward-Looking Statements All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future developments, results or periods. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements. Examples of these include, but are not limited to: the effects of inflation and inflationary pressures and changes in monetary and fiscal policies and laws, including increases in the Federal funds target rate by, and interest rate policies of, the Federal Reserve Board; changes in and uncertainty related to benchmark interest rates used to price loans and deposits; the geopolitical and macroeconomic impact of the war in Ukraine; the impact of the actions taken by governmental authorities to contain the COVID-19 pandemic or address the impact of the pandemic on the economy; the risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and, if any, in our subsequent quarterly reports on Form 10-Q; the other financial, operational and legal risks and uncertainties detailed from time to time in TrustCo’s cautionary statements contained in its filings with the Securities and Exchange Commission; and the effect of all of such items on our operations, liquidity and capital position, and on the financial condition of our borrowers and other customers. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.Story continuesSubsidiary: Trustco BankContact: Robert M. Leonard  Executive Vice President  (518) 381-3693   

GlobeNewswire

Buoyed by Strong Liquidity and Deposit Stability, TrustCo Declares Dividend

https://finance.yahoo.com/news/buoyed-strong-liquidity-deposit-stability-200000559.html

af93aae2-e73b-3b51-9a2a-fbd3ae253b3e

TRST

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 TrustCo Bank Corp NY (NASDAQ:TRST) is about to go ex-dividend in just 4 days. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order to receive a dividend. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. In other words, investors can purchase TrustCo Bank Corp NY's shares before the 31st of August in order to be eligible for the dividend, which will be paid on the 2nd of October.The company's upcoming dividend is US$0.36 a share, following on from the last 12 months, when the company distributed a total of US$1.44 per share to shareholders. Last year's total dividend payments show that TrustCo Bank Corp NY has a trailing yield of 5.1% on the current share price of $28.24. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. So we need to check whether the dividend payments are covered, and if earnings are growing. View our latest analysis for TrustCo Bank Corp NY 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. Fortunately TrustCo Bank Corp NY's payout ratio is modest, at just 37% of profit.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 TrustCo Bank Corp NY paid out over the last 12 months.historic-dividendHave Earnings And Dividends Been Growing?Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. Fortunately for readers, TrustCo Bank Corp NY's earnings per share have been growing at 12% a year for the past five years.Story continuesAnother key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. In the past 10 years, TrustCo Bank Corp NY has increased its dividend at approximately 0.9% a year on average. It's good to see both earnings and the dividend have improved - although the former has been rising much quicker than the latter, possibly due to the company reinvesting more of its profits in growth.To Sum It UpIs TrustCo Bank Corp NY an attractive dividend stock, or better left on the shelf? When companies are growing rapidly and retaining a majority of the profits within the business, it's usually a sign that reinvesting earnings creates more value than paying dividends to shareholders. Perhaps even more importantly - this can sometimes signal management is focused on the long term future of the business. We think this is a pretty attractive combination, and would be interested in investigating TrustCo Bank Corp NY more closely.So while TrustCo Bank Corp NY looks good from a dividend perspective, it's always worthwhile being up to date with the risks involved in this stock. Our analysis shows 1 warning sign for TrustCo Bank Corp NY and you should be aware of this before buying any shares.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.

TrustCo Bank Corp NY (NASDAQ:TRST) Looks Interesting, And It's About To Pay A Dividend

https://finance.yahoo.com/news/trustco-bank-corp-ny-nasdaq-123307333.html

71dd11ad-03e8-394a-a64b-c197c49f453e

TRTX

NEW YORK, September 07, 2023--(BUSINESS WIRE)--TPG RE Finance Trust, Inc. (NYSE: TRTX) ("TRTX" or the "Company") today announced that Doug Bouquard, Chief Executive Officer, is scheduled to host investor meetings at the Bank of America Securities 2023 Global Real Estate Conference on September 12, 2023.The Company’s presentation will be available on the Investor Relations section of TRTX’s website at http://investors.tpgrefinance.com/event.ABOUT TRTXTPG RE Finance Trust, Inc. is a commercial real estate finance company that originates, acquires, and manages primarily first mortgage loans secured by institutional properties located in primary and select secondary markets in the United States. The Company is externally managed by TPG RE Finance Trust Management, L.P., a part of TPG Real Estate, which is the real estate investment platform of global alternative asset management firm TPG Inc. (NASDAQ: TPG). For more information regarding TRTX, visit https://www.tpgrefinance.com/.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907362322/en/ContactsINVESTOR RELATIONS CONTACT +1 (212) [email protected] CONTACT TPG RE Finance Trust, Inc.Courtney Power+1 (415) [email protected]

Business Wire

TPG RE Finance Trust, Inc. to Participate in the Bank of America Securities 2023 Global Real Estate Conference

https://finance.yahoo.com/news/tpg-finance-trust-inc-participate-201900340.html

a730d297-f52a-383d-8053-22bdb8e8d002

TRTX

NEW YORK, September 08, 2023--(BUSINESS WIRE)--TPG RE Finance Trust, Inc. (NYSE: TRTX) ("TRTX" or the "Company") today announced the Company’s Board of Directors declared a cash dividend of $0.3906 per share of 6.25% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") for the third quarter of 2023. The Series C Preferred Stock dividend is payable on September 29, 2023 to preferred stockholders of record as of September 19, 2023.ABOUT TRTXTPG RE Finance Trust, Inc. is a commercial real estate finance company that originates, acquires, and manages primarily first mortgage loans secured by institutional properties located in primary and select secondary markets in the United States. The Company is externally managed by TPG RE Finance Trust Management, L.P., a part of TPG Real Estate, which is the real estate investment platform of global alternative asset management firm TPG Inc. (NASDAQ: TPG). For more information regarding TRTX, visit https://www.tpgrefinance.com/.FORWARD-LOOKING STATEMENTSThis press release contains "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. These forward‐looking statements are subject to various risks and uncertainties, including, without limitation, risks and uncertainties relating to: the performance of the Company’s investments; global economic trends and economic conditions, including heightened inflation, slower growth or recession, changes to fiscal and monetary policy, higher interest rates, labor shortages, currency fluctuations and challenges in global supply chains; the Company's ability to originate loans that are in the pipeline and under evaluation by the Company; financing needs and arrangements; and the risks, uncertainties and factors set forth under the heading "Risk Factors" in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as such risk factors may be updated from time to time in the Company’s periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC’s website at www.sec.gov. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "believe," "could," "project," "predict," "continue," "payable" or other similar words or expressions. Forward-looking statements are based on certain assumptions, discuss future expectations, describe existing or future plans and strategies, contain projections of results of operations, liquidity and/or financial condition or state other forward-looking information. Statements, among others, relating to the payment of dividends on a future date are forward-looking statements. The ability of TRTX to predict future events or conditions or their impact or the actual effect of existing or future plans or strategies is inherently uncertain. Although the Company believes that such forward-looking statements are based on reasonable assumptions, actual results and performance in the future could differ materially from those set forth in or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company’s views only as of the date of this press release. Except as required by law, neither the Company nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements appearing in this press release. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise. Past performance is not indicative nor a guarantee of future returns.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230908892224/en/ContactsINVESTOR RELATIONS +1 (212) [email protected] MEDIA TPG RE Finance Trust, Inc.Courtney Power+1 (415) [email protected]

Business Wire

TPG RE Finance Trust, Inc. Declares Cash Dividend on Series C Cumulative Redeemable Preferred Stock

https://finance.yahoo.com/news/tpg-finance-trust-inc-declares-200500344.html

23adcff3-761a-35d7-b03e-3c81b57ac51f

TRV

Prudent pricing, an improving rate environment, exposure growth, prudent underwriting and solid capital position poise property and casualty (P&C) insurers well amid a volatile market. However, an active catastrophe environment could weigh on the upside.Global commercial insurance prices rose for 23 straight quarters, though the magnitude has slowed down, per Marsh Global Insurance Market Index. Global commercial insurance prices increased 4% in the first quarter, followed by a 3% rise in the second quarter of 2023.Improving pricing drives improved premiums and claims payment. Per Deloitte Insights, gross premiums are estimated to increase about sixfold to $722 billion by 2030. China and North America should account for more than two-thirds of the global market, per the report. Per Deloitte Insights, trends like commercial lines witnessing growth at a faster pace than personal lines and homeowners’ premiums improving better than personal auto are likely to continue in 2023. Per reports published in Carrier Management, direct premiums written across the P&C business in 2023 are estimated to grow in the double digit.The insurance industry is rate sensitive. The Fed has already made three hikes in 2023, taking the tally to 11 since March 2022. An improving rate environment is a boon for insurers, especially long-tail insurers.Amid the tailwinds, the unpredictable nature of catastrophic events weighs on the underwriting profitability of insurers. Swiss Re estimated a global economic loss of $120 billion in the first half of 2023 from natural disasters, while insured losses were estimated to be about $50 billion. Per a report in the Insurance Journal, the combined net ratio in 2023 is estimated to be 102.2. Underwriting losses are expected to be largely due to soft performance in personal lines, which, in turn, is driven by higher catastrophe losses per Insurance Information Institute and Milliman.Nonetheless, the insurance industry continues to witness accelerated digitalization. Players are investing heavily in technology to improve scale and efficiencies.While a solid policyholders’ surplus will help the industry absorb losses, a sturdy capital level supports insurers in strategic mergers and acquisitions, investing in growth initiatives, engaging in share buybacks, increasing dividends or paying out special dividends.The industry has risen 11.5% year to date versus the Finance sector’s increase of 6.4%. The Zacks S&P 500 composite has witnessed an increase of 18.6% in the said time frame.Here we focus on two P&C insurers, namely The Travelers Companies Inc. TRV and The Allstate Corporation ALL. Travelers Companies, with a market capitalization of $37.2 billion, is one of the leading writers of auto and homeowners’ insurance, commercial U.S. P&C insurer and the largest publicly-held personal lines carrier in the United States. Both companies carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Let’s now see how these P&C insurers have fared in terms of some of the key metrics.Story continuesPrice PerformanceTRV has lost 13.5% year to date compared with ALL’s decline of 18.5%. Return on EquityTRV has a return on equity (ROE) of 10.8%, which exceeds ALL’s ROE of negative 14.7% and the industry average of 6.7%.Dividend YieldALL has a dividend yield of 3.2%, which tops the industry average of 0.3% and TRV’s dividend yield of 2.5%.Debt-to-EquityAllstate’s debt-to-equity ratio of 51.7 is higher than the industry average of 23.4 and TRV’s reading of 36.7.Growth ProjectionThe Zacks Consensus Estimate for 2023 earnings indicates a 3.3% decrease from the year-ago reported figure for TRV and 105.2% for ALL.The consensus estimate for 2024 earnings indicates a 36.69% increase from the year-ago reported figure for TRV and 712.6% for ALL.The expected long-term earnings growth for earnings is pegged at 10% for TRV and 7% for ALL, though both lag the industry average of 12.1%.ValuationThe price-to-book multiple of TRV is 1.7 lower than ALL’s multiple of 2.16. The industry average is 1.42.To ConcludeOur comparative analysis shows that TRV has the edge over ALL with respect to price performance, return on equity, growth projection, leverage and valuation. ALL outpaces TRV on dividend yield.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThe Travelers Companies, Inc. (TRV) : Free Stock Analysis ReportThe Allstate Corporation (ALL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

TRV or ALL: Which P&C Insurance Stock Should You Hold Now?

https://finance.yahoo.com/news/trv-p-c-insurance-stock-170100177.html

105463aa-f003-3f2b-8e25-2eec8f8fa73b

TRV

Assessing Dividend Sustainability and Growth Prospects of The Travelers Companies Inc (NYSE:TRV)The Travelers Companies Inc (NYSE:TRV) recently announced a dividend of $1 per share, payable on 2023-09-29, with the ex-dividend date set for 2023-09-07. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's deep dive into The Travelers Companies Inc's dividend performance and assess its sustainability.What Does The Travelers Companies Inc Do?High Yield Dividend Stocks in Gurus' PortfolioThis Powerful Chart Made Peter Lynch 29% A Year For 13 YearsHow to calculate the intrinsic value of a stock?Travelers offers a broad product range and participates in both commercial and personal insurance lines. Its commercial operations offer a variety of coverage types for companies of any size but concentrate on serving midsize businesses. Its personal lines are roughly evenly split between auto and homeowners insurance. Travelers derives 6% of its premiums from foreign markets.Travelers Companies Inc (TRV): A Deep Dive into its Dividend PerformanceA Glimpse at The Travelers Companies Inc's Dividend HistoryThe Travelers Companies Inc has maintained a consistent dividend payment record since 1985. Dividends are currently distributed on a quarterly basis.The Travelers Companies Inc has increased its dividend each year since 2005. The stock is thus listed as a dividend achiever, an honor that is given to companies that have increased their dividend each year for at least the past 18 years. Below is a chart showing annual Dividends Per Share for tracking historical trends.Travelers Companies Inc (TRV): A Deep Dive into its Dividend PerformanceBreaking Down The Travelers Companies Inc's Dividend Yield and GrowthAs of today, The Travelers Companies Inc currently has a 12-month trailing dividend yield of 2.34% and a 12-month forward dividend yield of 2.47%. This suggests an expectation of increased dividend payments over the next 12 months.Over the past three years, The Travelers Companies Inc's annual dividend growth rate was 4.30%. Extended to a five-year horizon, this rate increased to 5.20% per year. And over the past decade, The Travelers Companies Inc's annual dividends per share growth rate stands at 7.60%.Story continuesBased on The Travelers Companies Inc's dividend yield and five-year growth rate, the 5-year yield on cost of The Travelers Companies Inc stock as of today is approximately 3.02%.Travelers Companies Inc (TRV): A Deep Dive into its Dividend PerformanceThe Sustainability Question: Payout Ratio and ProfitabilityTo assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2023-06-30, The Travelers Companies Inc's dividend payout ratio is 0.40.The Travelers Companies Inc's profitability rank, offers an understanding of the company's earnings prowess relative to its peers. GuruFocus ranks The Travelers Companies Inc's profitability 7 out of 10 as of 2023-06-30, suggesting good profitability prospects. The company has reported positive net income for each of the year over the past decade, further solidifying its high profitability.Growth Metrics: The Future OutlookTo ensure the sustainability of dividends, a company must have robust growth metrics. The Travelers Companies Inc's growth rank of 7 out of 10 suggests that the company's growth trajectory is good relative to its competitors.Revenue is the lifeblood of any company, and The Travelers Companies Inc's revenue per share, combined with the 3-year revenue growth rate, indicates a strong revenue model. The Travelers Companies Inc's revenue has increased by approximately 8.50% per year on average, a rate that outperforms than approximately 65.72% of global competitors.The company's 3-year EPS growth rate showcases its capability to grow its earnings, a critical component for sustaining dividends in the long run. During the past three years, The Travelers Companies Inc's earnings increased by approximately 5.90% per year on average, a rate that outperforms than approximately 55.31% of global competitors.Lastly, the company's 5-year EBITDA growth rate of 11.40%, which outperforms than approximately 68.77% of global competitors.Next StepsGiven The Travelers Companies Inc's consistent dividend payments, a healthy growth rate, a sustainable payout ratio, and solid profitability and growth metrics, it appears to be a promising candidate for dividend investors. However, as with all investments, it's essential to do your due diligence and consider your financial goals and risk tolerance before making a decision.GuruFocus Premium users can screen for high-dividend yield stocks using the High Dividend Yield Screener.This article first appeared on GuruFocus.

GuruFocus.com

Travelers Companies Inc (TRV): A Deep Dive into its Dividend Performance

https://finance.yahoo.com/news/travelers-companies-inc-trv-deep-110637460.html

260783e1-4e13-3d32-86e7-fcae2c65c064

TSCO

The annual T-shirt fundraiser will benefit FFA youth nationwideBRENTWOOD, Tenn., September 08, 2023--(BUSINESS WIRE)--Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, announced today the launch of its ninth annual National Future Farmers of America Organization (FFA) T-shirt fundraiser. For a limited time, customers can purchase special-edition FFA T-shirts exclusively at Tractor Supply stores nationwide and online to support FFA and its ongoing commitment to the future of agriculture. Campaign proceeds will be distributed to FFA chapters across the country, funding agricultural programs and activities for students and alumni in support of future leaders at the National FFA Convention & Expo, to be held in Indianapolis, Indiana, Nov. 1-4.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230908460939/en/(Photo: Business Wire)The T-shirt fundraiser has generated nearly $2.2 million in sales since the program’s inception in 2015, with 2022 marking the highest T-shirt sales to date at $412,812. Tractor Supply also proudly supports FFA and its mission through multiple annual fundraising events, such as Grants for Growing and many activities at the local level."We are immensely proud to announce our partnership with FFA in this year's T-shirt campaign," said Kimberley Gardiner, chief marketing officer of Tractor Supply. "Each shirt sold is a symbol of our long-standing commitment to empowering the future of agriculture. With every purchase, we are not only supporting FFA but also investing in the dreams and aspirations of future leaders in our community."The campaign will benefit four FFA programs: the "Living to Serve" student community empowerment program, "Alumni Legacy Grants" which provide $1,000 scholarships annually to students pursuing degrees in agricultural education, "New Farmers of America Archives" aimed at promoting inclusivity and accommodating students of all races and backgrounds, and "Gift of Blue" which provides funding for FFA members who might not otherwise be able to afford their own jackets.Story continuesFor more information on the fundraiser and Tractor Supply’s support of FFA, visit TractorSupply.com/FFA and follow Tractor Supply on Facebook, Instagram and Twitter.About Tractor Supply CompanyFor 85 years, Tractor Supply Company (NASDAQ: TSCO) has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts and all those who enjoy living Life Out Here. Tractor Supply is the largest rural lifestyle retailer in the U.S., ranking 291 on the Fortune 500. The Company’s 52,000 Team Members are known for delivering legendary service and helping customers pursue their passions, whether that means being closer to the land, taking care of animals or living a hands-on, DIY lifestyle. In store and online, Tractor Supply provides what customers need – anytime, anywhere, any way they choose at the low prices they deserve.As of July 1, 2023, the Company operated 2,181 Tractor Supply stores in 49 states, including 81 stores acquired from Orscheln Farm and Home in 2022 that will be rebranded to Tractor Supply by the end of 2023. For more information on Tractor Supply, visit www.tractorsupply.com.Tractor Supply Company also owns and operates Petsense by Tractor Supply, a small-box pet specialty supply retailer providing products and services for pet owners. As of July 1, 2023, the Company operated 192 Petsense by Tractor Supply stores in 23 states. For more information on Petsense by Tractor Supply, visit www.Petsense.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908460939/en/ContactsMary Winn Pilkington (615) 440-4212Tricia Whittemore (615) [email protected]

Business Wire

Tractor Supply Launches Limited-Edition T-shirt to Support 96th National FFA Convention

https://finance.yahoo.com/news/tractor-supply-launches-limited-edition-120000187.html

72a3cf45-82f7-3364-8338-fce1bf0b681e

TSCO

Key InsightsThe projected fair value for Tractor Supply is US$229 based on 2 Stage Free Cash Flow to EquityCurrent share price of US$217 suggests Tractor Supply is potentially trading close to its fair valueOur fair value estimate is 6.5% lower than Tractor Supply's analyst price target of US$245How far off is Tractor Supply Company (NASDAQ:TSCO) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by projecting its future cash flows and then discounting them to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. There's really not all that much to it, even though it might appear quite complex.We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model. Check out our latest analysis for Tractor Supply Is Tractor Supply Fairly Valued?We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:Story continues10-year free cash flow (FCF) estimate2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$856.3mUS$1.17bUS$1.27bUS$1.36bUS$1.42bUS$1.48bUS$1.53bUS$1.58bUS$1.62bUS$1.67bGrowth Rate Estimate SourceAnalyst x10Analyst x4Analyst x1Analyst x1Est @ 4.90%Est @ 4.07%Est @ 3.50%Est @ 3.09%Est @ 2.81%Est @ 2.61% Present Value ($, Millions) Discounted @ 7.5% US$797US$1.0kUS$1.0kUS$1.0kUS$992US$961US$926US$888US$850US$812("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$9.3bAfter calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.5%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$1.7b× (1 + 2.2%) ÷ (7.5%– 2.2%) = US$32bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$32b÷ ( 1 + 7.5%)10= US$16bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$25b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Relative to the current share price of US$217, the company appears about fair value at a 5.1% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.dcfThe AssumptionsWe would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. 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 Tractor Supply as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.5%, which is based on a levered beta of 1.060. 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 Tractor SupplyStrengthEarnings growth over the past year exceeded the industry.Debt is well covered by earnings and cashflows.Dividends are covered by earnings and cash flows.WeaknessEarnings growth over the past year is below its 5-year average.Dividend is low compared to the top 25% of dividend payers in the Specialty Retail market.OpportunityAnnual earnings are forecast to grow for the next 3 years.Current share price is below our estimate of fair value.ThreatAnnual earnings are forecast to grow slower than the American market.Looking Ahead:Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn't be the only metric you look at when researching a company. DCF models are not the be-all and end-all of investment valuation. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Tractor Supply, there are three further items you should look at:Risks: To that end, you should be aware of the 1 warning sign we've spotted with Tractor Supply .Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for TSCO's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors.Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

A Look At The Fair Value Of Tractor Supply Company (NASDAQ:TSCO)

https://finance.yahoo.com/news/look-fair-value-tractor-supply-134253342.html

94d85059-9448-3d58-b898-6493fa9df434

TSHA

The market had a choppy August as traders digested the latest developments from a busy earnings season and a hawkish Federal Reserve. While the overall market is volatile, we’ve seen some large speculative run-ups amid small-cap stocks.For these three small-cap stocks to sell, it’s time to cash in on their recent rallies before the enthusiasm runs out. All three of these names popped more than 50% in August and look set to plunge in the rest of 2023.Moneylion (ML)MoneyLion Iphone DisplaySource: Sulastri Sulastri / Shutterstock.comMoneylion (NYSE:ML) is a FinTech lending and consumer finance platform. It aims to be the “go-to money destination.” So far, it has struggled to achieve that end; revenue growth has slowed down dramatically, and the firm remains dramatically unprofitable. Things looked particularly grim in the most recent quarter with consumer revenues growing just 6% while operating losses widened.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBulls would argue that Moneylion shares are cheap on a price/sales basis. But this is the wrong metric to use. Risky lending companies almost always trade at low P/S ratios. Leading high-yield personal loan lender OneMain Financial (NYSE:OMF) and large credit card lender Capital One (NYSE:COF) both go for around 1x revenues and are exceptionally profitable. It’s unclear why Moneylion should fetch a higher valuation given it is even riskier as it isn’t anywhere close to profitability yet.A whole bunch of FinTech companies, Moneylion included, went public a few years ago selling investors visions of tech-enabled financial platforms that should sell at high P/S and EBITDA multiples. But, in reality, these are lending businesses — and by all appearances, often not even particularly well-run ones. Traders are right to sell these and move on. That’s especially true for ML stock in particular after its unwarranted August rally.Taysha Gene Therapies (TSHA)OLK Stock. Modern Medical Research Laboratory: Two Scientists Wearing Face Masks use Microscope, Analyse Sample in Petri Dish, Talk. Advanced Scientific Lab for Medicine, Biotechnology. Blue Color. KZR stock. RSLS stockSource: Gorodenkoff / Shutterstock.comStory continuesTaysha Gene Therapies (NASDAQ:TSHA) is a clinical-stage biotech company attempting to address Rett Syndrome, a rare disease that can lead to seizures, developmental disabilities, and coordination problems among other symptoms.TSHA stock became one of the biggest winners on the stock market in August, with shares rising more than 400% over the past month. However, it’s time to pump the brakes on that rally, at least for now.Yes, Taysha reported positive results in its Phase 1/2 trial. However, investors should note that this trial is, so far, based on just one patient. Encouraging results are always good news, but Taysha will need to enroll more patients and get a bigger data set to provide more confidence that the drug is on a successful path toward FDA approval.The company also recently raised $150 million in a private placement. That’s positive to the extent that it funds the company through mid-2025 at the current burn rate. Taysha could one day emerge as a serious player in rare disease treatment. However, the 400% run-up in TSHA stock based on a one patient trial seems premature.EOS Energy Enterprises (EOSE)An illustration of various clean energy symbols; a faucet with water flowing to the earth, a windmill and solar panel with a plug leading to an electric carSource: RoseStudio / ShutterstockEOS Energy Enterprises (NASDAQ:EOSE) is a small energy storage company. EOSE stock has been exceptionally volatile over the past year, rising from a low of 96 cents to a peak of $5.67 in June. Since then, the stock lost more than half its value before bouncing back more than 50% higher in August.The uncertainty comes due to the unclear nature of Energy Operating System’s (EOS) business model and balance sheet. EOS generated just $18 million in revenues last year and projections are for around $30 million this year. However, analysts see that figure leaping to $238 million in 2024 and more than $500 million the year after.If that actually plays out and EOS’ energy storage business sees exponential growth, the stock could be a winner. However, that outcome seems unlikely.Short-selling research firm Iceburgh Research has raised substantial doubts about Bridgelink Commodities, the single firm that makes up the majority of EOS’ purported orders backlog. Meanwhile, EOS has a balance sheet that is in bad shape.If revenues fail to materialize as planned, EOS will likely have to raise tons of capital and dilute shareholders dramatically. The firm’s current $500 million market cap seems way too steep given these concerns.On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.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 3 Small-Cap Stocks to Sell in September Before They Crash & Burn appeared first on InvestorPlace.

InvestorPlace

3 Small-Cap Stocks to Sell in September Before They Crash & Burn

https://finance.yahoo.com/news/3-small-cap-stocks-sell-190442002.html

5df81d25-362e-34f2-8206-a2cca0262d57

TSHA

Taysha Gene Therapies, Inc. (TSHA) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, TSHA's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross."A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving averages being the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.TSHA has rallied 404.2% over the past four weeks, and the company is a #3 (Hold) on the Zacks Rank at the moment. This combination indicates TSHA could be poised for a breakout.Looking at TSHA's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 3 changes higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.Investors should think about putting TSHA on their watchlist given the ultra-important technical indicator and positive move in earnings estimates.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 reportTaysha Gene Therapies, Inc. (TSHA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Taysha Gene Therapies, Inc. (TSHA) Just Flashed Golden Cross Signal: Do You Buy?

https://finance.yahoo.com/news/taysha-gene-therapies-inc-tsha-135504707.html

ff2df1f7-7d42-312e-a18f-5332ab00157f

TSLA

Tesla fell back from key resistance amid a Model 3 upgrade and big new price cuts. BYD reported booming sales after strong earnings.Continue reading

Investor's Business Daily

Tesla Vs. BYD 2023: EV Giants Both Hitting Key Resistance

https://finance.yahoo.com/m/3ce7d1c9-a5c6-39c5-aa87-7a13a2c16297/tesla-vs-byd-2023-ev-giants.html

3ce7d1c9-a5c6-39c5-aa87-7a13a2c16297

TSLA

Here's how to handle the battered market rally. The Apple iPhone 15 looms with earnings from AI giants Adobe and Oracle. Tesla stock got a big price target hikeContinue reading

Investor's Business Daily

Dow Jones Futures Rise For Ailing Market Rally; Tesla Stock Gets Huge Price Target Hike

https://finance.yahoo.com/m/adf86857-6fcf-31e1-aae0-fab15e31db5c/dow-jones-futures-rise-for.html

adf86857-6fcf-31e1-aae0-fab15e31db5c

TSN

Your chicken wings, hot dogs, and breakfast sausage could soon essentially transport themselves with the help of artificial intelligence.Tyson Foods (TSN) announced Wednesday it teamed up with autonomous vehicle maker Gatik to test out driverless trucks in northwest Arkansas.The multiyear contract kicked off last week with a four-truck fleet of Class 7 autonomous vehicles created to carry heavier frozen meats, and the next several trucks will be delivered in about a month, Tyson Foods vice president of transportation Patrick Simmons told Yahoo Finance.Don't expect these self-driving trucks at your local supermarket, though. Right now they are being used to make short deliveries from a production plant to multiple cold storage facilities, which are typically 10 to 15 miles apart."We’re after what I would call our middle mile," Simmons said. "If everything goes well, which we plan on it being that way at scale, there's really 40 sites that we've identified across the United States at some point in the future that we could roll this out."Tyson Foods, Inc. and Gatik AI Inc. are testing autonomous trucks to deliver cold food from the plant to the storage facility. (Courtesy: Tyson Foods).For the time being, drivers will continue to be in the vehicles as the AI software learns the routes. Eventually, the trucks will be completely driverless, which could happen in as soon as six months.Other companies that Gatik has worked with include Kroger (KR), which in March announced plans to deliver groceries to stores in Dallas, and Tyson's neighbor in northwest Arkansas, Walmart (WMT).'A better fit'According to Simmons, now is the right time for innovation around transportation."Coming out of the lessons of COVID, there was a lot of supply chain struggles, not just within our industry but within every industry across the globe," he said. "This enables us to become more self-reliant, more agile, mobile, flexible, and better serve the business and ultimately our customers."Tyson turned to AI technology in part due to the truck driver shortage "that was amplified during the pandemic" and still exists today, Simmons said. He also stressed that the autonomous trucks were not about eliminating jobs but finding a better fit for existing drivers.Story continues"Truck drivers don't like to do those short-term runs that are in and out of traffic," he said. "They like to get out on the highway and go 65 miles an hour and go 300, 400, 500 miles at a time."A Tyson Foods semi-truck on Interstate 80 near North Platte, Nebraska. (Getty Images)The AI component of the driverless truck also allows the company to use each vehicle longer than a traditional truck driver would be able to based on safety rules from the Department of Transportation. Instead of having drivers operate vehicles for 11 hours at a time, Tyson is planning on running the driverless trucks 18 hours a day.As the company looks to the future, Simmons also said the efforts could help attract younger generations of workers, who are generally more interested in technology careers and will be able to manage the fleet remotely or by drone."That's a productivity gain for us," Simmons said. "Then we're able to repurpose our truck driver. It's a better fit for what that driver would like to be doing anyhow."Tyson faces 'challenging' yearTyson has been looking to get back on its feet after a string of disappointing quarterly results. Shares of the mass food producer are down 30% over the past 12 months.Tyson Foods CEO Donnie King told Yahoo Finance recently in an exclusive interview that there has never been "a more challenging time" in his 40 years in the business. "The macro environment is challenging, and it'll continue to be challenging for a bit," King added.In the most recent quarter, Tyson's earnings fell short of estimates as weakened consumer demand and a supply glut caused prices to fall for many products.The company also shared plans to shutter three chicken-processing locations in October of this year, including facilities located in North Little Rock, Ark.; Noel, Mo.; and Dexter, Mo. The fourth location — in Corydon, Ind. — will close on or around March 1, 2024.This content is not available due to your privacy preferences.Update your settings here to see it.Following the results, JPMorgan analyst Ken Goldman wrote that the closures were "helpful to margins but not to an industry that remains arguably over-supplied.""Either way, it’s good to see the company lean into what Donnie King sometimes does best — run efficient businesses — and we think it’s reasonable to model MSD operating margins for this segment as soon as 4Q23," Goldman added.As part of those plans to streamline operations, Tyson also said it will launch a new supply chain center and announced that Brady Stewart, who previously oversaw the fresh meats business, will become the company's chief supply chain officer.As far as the outlook for 2023, the company now expects total sales between $53 billion and $54 billion for the full year, with sales growth flat year over year.—Brooke DiPalma is a reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at [email protected] here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Tyson enlists self-driving trucks to deliver chicken wings and hot dogs

https://finance.yahoo.com/news/tyson-enlists-self-driving-trucks-to-deliver-chicken-wings-and-hot-dogs-142304891.html

65adc448-bc68-48bc-a1b7-9f7a85063a90

TSN

Tyson Foods (TSN) is partnering with Gatik to test driverless AI trucks in the U.S. Yahoo Finance Reporter Brooke DiPalma joins the Live show to break down the report.Video TranscriptRACHELLE AKKUFO: Mega food producer Tyson is teaming up with autonomous vehicle maker Gatik to test driverless trucks in the Northwest Arkansas. Now, Yahoo Finance's Brooke DiPalma is here with the details. Sounds like music to all of us food lovers is right now.BROOKE DIPALMA: Sounds like music to my ears too. I mean, what an innovation. The future is here, Rachelle. Essentially, Tyson using AI technology to transport its inventory as the company continues to tackle the supply chain issue that it faced in the recent quarterly results. So really, what this comes down to is Tyson is teaming up with Gatik. It's a multi-year contract that kicked off last week. It'll start with four trucks that will roll out and essentially work to deliver those products inventory from the plants to cold storage facilities.Now, Gatik did create these Class 7 autonomous vehicles specifically for Tyson to create an opportunity to carry those heavier foods. Now, the next several trucks will be delivered in about a month, and that middle mile is what they're really looking to get at. These will be used in shorter trips, think 10 to 15 miles. And what is being tested right now is something that, for the time being, will actually have a person inside the autonomous vehicle as that AI technology learns these routes.And essentially, when we talked to Tyson, they were very optimistic about this rollout as the company looks really to double down on its supply chain. They said that there's about 40 sites that should this all go well, that they've identified where this autonomous vehicle technology can be used to transport its inventory, once again, from those cold storage facilities-- or rather from the plants to the cold storage facilities. And one executive telling Yahoo Finance that this really is a productivity gain.When you think about drivers, based upon rules and safety rules set by the DOT, they're only allowed to drive about 11 hours a day. But when you think about these autonomous vehicles, they can essentially run all day, but they intend to use them for about 18 hours a day. And other partners that Gatik has teamed up with also include Kroger as well as Tyson's next-door neighbor in Northwest Arkansas Walmart. And so certainly, lots underway in Tyson's HQ, but also it'll be interesting to watch the efficiency gains that comes from Tyson in the months to come.RACHELLE AKKUFO: Indeed, interesting development there, especially since during the pandemic, we were talking about truck driver shortage. So clearly some solutions here on the table. Brooke DiPalma, thank you so much.

Yahoo Finance Video

Tyson Foods partners with Gatik to test autonomous delivery trucks

https://finance.yahoo.com/video/tyson-foods-partners-gatik-test-160550117.html

6adc341a-6bb9-3992-b46e-28497acd19dc

TT

Affirm Holdings, Inc. AFRM recently announced a partnership with ATERNAL to serve as the exclusive pay over-time provider in art galleries. Shares of AFRM gained 1.7% on Sep 7, 2023, implying investors’ confidence in the company’s prospects. ATERNAL is an inventory management platform for small to large-scale art galleries, and this partnership is expected to enhance its offerings to merchants, driving growth.This move bodes well, as AFRM will be able to expand its network with new merchants, driving its top-line growth. The partnership is expected to increase gross merchandise value in the future. Initiatives like this will aid AFRM in achieving its expected full-year profitability in fiscal 2024 on an adjusted operating income basis. It expects revenues to be more than $1.9 billion for fiscal 2024.ATERNAL can provide flexible payment options to art buyers, such as pay over time. This will add to ATERNAL’s offerings to art galleries, like improved workflows and insights from transactions. Hence, ATERNAL’s clients will experience increased sales as more customers get attracted to the buy now pay later (BNPL) solutions.The major strength of Affirm is its technology, which aids it in pricing its products and risk assessment. AFRM allows customers to pay overtime and does not charge hidden fees or late payment charges. It charges customers on a simple interest-rate basis and is transparent in displaying exactly what the customer owes, reducing their burden.Affirm is set to grow its business by collaborating with global giants, such as Amazon and Fidelity National Information Services. These partnerships will enable customers to access buy now and pay later options and drive growth in merchant business. AFRM will make money from commissions charged to businesses, boosting its top line in the future.The Zacks Consensus Estimate for AFRM’s fiscal 2024 revenues is pegged at $2.4 billion, indicating 21% year-over-year growth. This trend will likely help the company to become a profitable firm. The company is yet to register operating profit in the quarters ahead. However, modern and exciting products like Debit+ Card and partnerships will bring the company closer to its goals.Story continuesZacks Rank and Price PerformanceAffirm currently has a Zacks Rank #3 (Hold). In the year-to-date period, shares of Affirm have gained 132.5% compared with 2.3% growth of the industry it belongs to.Zacks Investment ResearchImage Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks in the Business Services space are Limbach Holdings, Inc. LMB, Trane Technologies plc TT and Api Group Corporation APG. While Limbach presently sports a Zacks Rank #1 (Strong Buy), Trane Technologies and APi Group currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The bottom line of Limbach outpaced estimates in each of the last four quarters, the average surprise being 81.40%. The Zacks Consensus Estimate for LMB’s 2023 earnings is pegged at $1.36 per share, which has more than doubled from the year-ago reported figure. The consensus mark for revenues suggests growth of 0.8% from the year-ago reported number. The consensus mark for LMB’s 2023 earnings has moved 21.4% north in the past 30 days.Trane Technologies’ earnings outpaced estimates in each of the trailing four quarters, the average surprise being 7.30%. The Zacks Consensus Estimate for TT’s 2023 earnings suggests an improvement of 19.8% from the year-ago reported figure. The same for revenues suggests growth of 10% from the year-ago reported number. The consensus mark for TT’s 2023 earnings has moved 0.6% north in the past 30 days.The bottom line of APi Group outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 9.85%. The Zacks Consensus Estimate for APG’s 2023 earnings suggests an improvement of 13.5% from the year-ago reported figure. The consensus mark for revenues suggests growth of 7.9% from the year-ago reported number. The consensus mark for APG’s 2023 earnings has moved 0.7% north in the past 60 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 reportTrane Technologies plc (TT) : Free Stock Analysis ReportLimbach Holdings, Inc. (LMB) : Free Stock Analysis ReportAPi Group Corporation (APG) : Free Stock Analysis ReportAffirm Holdings, Inc. (AFRM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Affirm (AFRM) & ATERNAL to Offer BNPL Solutions to Art Buyers

https://finance.yahoo.com/news/affirm-afrm-aternal-offer-bnpl-173700165.html

1de2b082-48ac-31ad-8b72-5cae4aebdedc

TT

On September 6, 2023, Vikram Kini, the Senior Vice President and CFO of Ingersoll Rand Inc (NYSE:IR), sold 169,153 shares of the company. This move has sparked interest among investors and analysts alike, as insider trading activities often provide valuable insights into a company's financial health and future prospects.Warning! GuruFocus has detected 4 Warning Signs with SD. Click here to check it out. IR 30-Year Financial DataThe intrinsic value of IRVikram Kini has been with Ingersoll Rand Inc for several years, serving in various leadership roles before his current position as Senior Vice President and CFO. His extensive experience and deep understanding of the company's operations make his trading activities particularly noteworthy.Ingersoll Rand Inc is a globally recognized industrial manufacturing company. It specializes in the production of mission-critical flow creation and industrial solutions, including air compressors, tools, material handling systems, and more. The company's products and services are used in a wide range of industries, from manufacturing and construction to mining and energy.Over the past year, Vikram Kini has sold a total of 169,153 shares and purchased 0 shares. This recent sale represents a significant portion of his trading activities during this period.Senior Vice President and CFO Vikram Kini Sells 169,153 Shares of Ingersoll Rand IncThe insider transaction history for Ingersoll Rand Inc shows a trend of more insider sells than buys over the past year. There have been 12 insider sells and 0 insider buys in total. This could suggest that insiders believe the company's stock is currently overvalued, prompting them to sell their shares.On the day of the insider's recent sale, shares of Ingersoll Rand Inc were trading for $69.43 apiece, giving the stock a market cap of $28.07 billion. The price-earnings ratio is 40.36, which is higher than the industry median of 22.38 and the companys historical median price-earnings ratio. This could indicate that the stock is overpriced compared to its earnings.Story continuesSenior Vice President and CFO Vikram Kini Sells 169,153 Shares of Ingersoll Rand IncAccording to the GuruFocus Value, which is an intrinsic value estimate based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates, Ingersoll Rand Inc has a price-to-GF-Value ratio of 1.02. This suggests that the stock is fairly valued. However, the insider's recent sale could indicate that he believes the stock is overvalued, despite its fair valuation according to the GF Value.In conclusion, the insider's recent sale of Ingersoll Rand Inc shares could suggest that he believes the stock is overvalued. However, investors should also consider other factors, such as the company's financial health and future prospects, before making investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

Senior Vice President and CFO Vikram Kini Sells 169,153 Shares of Ingersoll Rand Inc

https://finance.yahoo.com/news/senior-vice-president-cfo-vikram-170103946.html

55e1d0ce-0552-32d2-95ba-9d550f794705