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WRAP

Wrap Technologies, Inc.Major Acquisition Expands and Diversifies Solutions Portfolio; Management Reorganization, Cost Reduction, Additional Funding and Strong 2H 2023 Growth Forecast Announced.TEMPE, Ariz., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) (“Wrap” or the “Company”), a global leader in innovative public safety technologies and services, today announced financial and operating results for the second quarter ended June 30, 2023, as well as announced a major acquisition in the body cam and digital evidence management markets.Acquisition AnnouncementWrap has executed a purchase agreement for the acquisition of Intrensic, LLC (“Intrensic”), a trailblazer in the field of digital evidence management and body worn cameras. The strategic acquisition was concluded through the purchase of 100% of the membership interest for $500,000 in cash and 1,250,000 shares of WRAP common stock. The transaction is expected to close in the next few days.The strategic integration of Intrensic offerings into Wrap Technologies’ portfolio creates a future rich with innovation and opportunities. Combining the companies’ forces empowers Wrap to offer a more comprehensive suite of solutions, making Wrap a one-stop shop for law enforcement and security technology needs. By tapping into Intrensic’s expertise in digital evidence management, Wrap expands its capabilities, creating a robust, fully integrated technology ecosystem. This not only allows Wrap to better serve its existing customer base, but also attract new clients seeking end-to-end, technologically advanced solutions. Furthermore, this merger fosters cross-pollination of ideas, propelling us further along our journey of tenacious innovation. This synergy positions Wrap for significant growth, and ultimately, enhances shareholder value in the long term.Intrensic's expertise in digital evidence management systems and body worn cameras will significantly extend Wrap's capabilities, presenting a more comprehensive and integrated set of solutions to its diverse customer base across the globe.Story continuesSecond Quarter and Recent HighlightsApril 2023: Appointed Kevin Mullins as Chief Executive Officer and Director. As Company President, Mullins led many of the Company’s initial cost containment initiatives as well as redefining the sales team and operations efforts, and large customer acquisitions over the past year. He is an experienced corporate leader with a track record of taking public safety technology companies from concept to growth to profitability.April 2023: Appointed Bruce Bernstein, an experienced investment professional and leader in the securities industry, and Marc Savas, a skilled executive with a strong track record of accelerating revenue growth for companies, to the Board of Directors.May 2023: Announced Kevin Mullins’ vision to redirect Wrap Technologies from a product-focused organization to a mission-based solutions provider, setting the stage for purpose-driven innovation and growth.June 2023: Announced that over the past four months, the Company has seen a remarkable increase of almost 90% in new agencies purchasing Wrap Technologies' solutions compared to the previous four-month period.June 2023: Announced Wrap Reality outperforms 2022's total sales in just six months, revolutionizing immersive learning experiences for law enforcement.July 2023: Closed on a new preferred stock and warrants offering pursuant to a securities purchase agreement with a founder and director of the Company and certain accredited and institutional investors. The gross proceeds of the offering were approximately $10 million.August 2023: Announced the acquisition of Intrensic, LLC propelling the company into the body cam and evidence on the Cloud® services to provide a full suite of solutions from training through on-scene capabilities and post incident management.Management Commentary"I am delighted to report that Wrap Technologies' second quarter of 2023 has been nothing short of outstanding with regard to restructuring and setting the business up for future success,” said Kevin Mullins, Chief Executive Officer of Wrap. “While our overall results were in line with the prior year period due to the timing of larger international orders, we still achieved a record in Wrap Reality™ sales and have seen a significant surge in customer demand for both Wrap Reality™ and BolaWrap®. This strong performance lays a solid foundation for a strong second half of the year, which we approach with confidence and excitement.”“Additionally, we've recently undertaken substantial strides in expanding our sales team. Our enhanced team, now larger and more diverse, is equipped to respond to the growing demand for our solutions in both domestic and international markets. The international market in particular presents vast potential and we are redoubling our efforts to maximize these opportunities. On behalf of the entire Wrap Technologies team, I'd like to extend a warm welcome to our new board members. Their rich industry expertise and diverse insights will be invaluable to our strategic direction and growth.”“Our core solution, BolaWrap,® continues to gain momentum with law enforcement worldwide. We anticipate robust growth in BolaWrap sales from both existing and new departments. We are also in advanced discussions for potentially large international orders that underscore the device’s global appeal. In addition, we have solidified our Wrap Reality™ virtual reality training platform with our scenario-based approach, and are on a trajectory to rapidly increase the number of unique scenarios designed to enhance officer critical decision-making skills in high stress situations.“Today we also announced the acquisition of Intrensic, a state-of-the-art digital evidence management system and body-worn camera company that aligns perfectly with our strategic vision to strengthen and diversify our offerings in the law enforcement and security market. This agreement will help Wrap in its commitment to empowering law enforcement worldwide with a diverse suite of tools as the nature of policing continues to evolve. With the acquisition of Intrensic, we intend to offer a more comprehensive suite of solutions, making Wrap a one-stop shop for law enforcement and security technology needs. This acquisition expands Wrap's current capabilities and creates a robust, fully integrated technology ecosystem that allows us to better serve existing departments with innovative law enforcement and security solutions and attract new partners seeking end-to-end, advanced technologically options. Looking ahead, we are prepared to break new ground in connectivity solutions for law enforcement. Leveraging our expanded team and solutions suite, we are poised to make a significant impact on the efficiency, safety, and effectiveness of law enforcement operations worldwide.“The company's performance in Q2 2023 set new benchmarks in certain areas, yet our journey has just begun. We are not only strengthening our current operations but are also investing in our future. With a clear vision and relentless drive, we remain committed to realizing the full potential of Wrap."Key Performance Indicators (“KPIs”):Trained law enforcement agencies during the second quarter of 2023 grew to more than 1,450, a 18% increase from the prior year period.Certified officer instructors during the second quarter of 2023 grew to more than 4,827 a 16% increase from the prior year period.Backlog was approximately $0.025 million at June 30, 2023.Second Quarter 2023 Financial ResultsNet revenue increased 3% to $1.20 million from $1.17 million in the prior year period. Revenue in the Americas increased 7% to $1.2 million from $1.1 million in the prior year period, while international revenue was $0.03 million or approximately in line with the prior year period.Gross profit increased to $0.67 million (56% of net revenue), a 46% increase from $0.46 million (39% of net revenue) in the prior year period. The increase in gross profit was primarily the result of increased efficiencies in the costs associated with production of the BolaWrap® 150 and cost containment efforts in the second quarter of 2023.Sales, general and administrative (SG&A) expense increased $0.99 million, or 26%, to $4.75 million from $3.76 million in the prior year period. The increase in selling general and administrative expenses was the result of the Company incurring approximately $1.4 million of one-time items related to organizational changes including severance and legal fees that impacted operational expense. Excluding these one-time items, selling general and administrative expenses for the second quarter 2023 would have been $3.35 million or a 11% decrease from the prior year period.Research and development (R&D) expense decreased $0.47 million, or 32%, to $1.00 million from $1.48 million in the prior year period. The decrease in R&D expense was primarily the result of continuing cost management efforts as well as improving development costs associated with the BolaWrap® 150.Operating expense increased $0.51 million, or 10%, to $5.75 million from $5.24 million in the prior year period. The increase in operating expenses was the result of the Company incurring approximately $1.4 million of one-time items related to organizational changes including severance and legal fees that impacted operational expense. Excluding these one-time items, operational expense for the second quarter 2023 would have been $4.35 million or a 17% decrease from the prior year period.Net loss increased 6% to $(5.08) million, or $(0.12) per share, from $(4.78) million, or $(0.12) per share, in the prior year period. The decrease in net loss was primarily the result of one-time items related to the organizational changes made during the second quarter 2023 including $1.22 million of non-cash expense related to stock compensation. Excluding the one-time items, net loss for the second quarter 2023 would have been $3.68 million or a 23% improvement in Net loss from the prior year period.Cash, cash equivalents and short-term investments were $18.2 million as of June 30, 2023, compared to $19.3 million as of December 31, 2022. The cash balance as of June 30, 2023, included approximately $7.4 million of initial proceeds from the $10 million preferred stock and warrants offering that was in the process of closing. Excluding these partial proceeds, cash as of June 30, 2023 would have been $10.8 million. Final proceeds and disbursement of fees occurred at closing on July 5, 2023.Financial Commentary"We are pleased to report that the organizational changes implemented in the second quarter 2023 have notably improved our operational efficiency and positioned us for a productive second half,” said Chris DeAlmeida, Chief Financial Officer of Wrap. “Our unwavering focus on cost containment, coupled with our strategic efforts, is guiding us towards sustainable growth.“Our operational expense for the quarter stood at $4.4 million, excluding one-time items related to the organizational changes we made in mid-April. This figure underscores our consistent efforts in managing operational costs even as we pursue strategic growth initiatives. We expect to see a further slight decline in operating expense in the third and fourth quarters as some changes in the second quarter were not implemented till the beginning of May.“We are also excited to announce that the recent capital raise has strengthened our balance sheet with an additional net cash of approximately $9.14 million. These funds will serve as a catalyst for future growth opportunities and propel us in executing our growth strategy.“In summary, our second quarter results epitomize our commitment to operational efficiency, fiscal discipline, and strategic growth, setting us on a promising trajectory for the rest of the year. Additionally, the acquisition of Intrensic will add immediate, accretive growth to our business."Conference CallWrap will hold a conference call today, August 9, 2023, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss these results.Wrap management will host a presentation, followed by a question-and-answer period.Date: Wednesday, August 9, 2023Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)Dial In Number: +1 (253) 215-8782Meeting ID: 92168214509Passcode: 890698Webcast Link: Click here to registerPlease join the call 5-10 minutes prior to the start time. A webcast recording of the call will be made available on the Company’s investor relations website.If you have any difficulty connecting with the conference call, please contact Gateway Group at 949-574-3860.About WrapWrap Technologies, Inc. (Nasdaq: WRAP) is a leading global provider of advanced public safety solutions, integrating state-of-the-art technology, cutting-edge tools, and comprehensive services to address the complex, modern day challenges facing public safety organizations around the world. Guided by a no-harm principle, Wrap is dedicated to developing groundbreaking solutions that empower public safety agencies to safeguard the communities they serve in a manner that fosters stronger relationships and delivers positive public safety outcomes.Wrap’s BolaWrap® solution encompasses an innovative and patented hand-held remote restraint device, strategically engineered with Wrap’s no-harm guiding principle to proactively deter escalation by deploying a Kevlar® tether that safely restrains individuals from a distance. Combined with BolaWrap® training, certified by the esteemed International Association of Directors of Law Enforcement Standards and Training (IADLEST), Wrap enables officers from over 900 agencies across the US and 60 countries around the world, with the expertise to effectively use BolaWrap® as an early intervention measure, mitigating potential risks and injuries, averting tragic outcomes.Wrap Reality™, the Company’s advanced virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform equips first responders with the discipline and practice to prevent escalation, de-escalate conflicts, and apply appropriate tactical use-of-force measures to better perform in the field. By offering a growing range of real-life scenarios, Wrap Reality™ addresses the dynamic nature of modern law enforcement situations for positive public safety outcomes.Wrap’s headquarters are in Tempe, Arizona. For more information, please visit wrap.com.Connect with Wrap:Wrap on FacebookWrap on TwitterWrap on LinkedInAbout Intrensic LLCIntrensic LLC is a pioneer in the digital evidence management system. It provides comprehensive solutions for managing and securing digital evidence, helping law enforcement agencies and other organizations streamline their operations and ensure integrity and compliance with laws and regulations.Use of Non-GAAP InformationIncluded in this press release are non-GAAP operational metrics regarding agencies and training, amounts of non-cash stock-based compensation expense and gross revenues before promotion discounts and incentives, which the Company believes provide helpful information to investors with respect to evaluating the Company’s performance.Trademark InformationBolaWrap®, Wrap and Wrap Reality™ are trademarks of Wrap Technologies, Inc. All other trade names used herein are either trademarks or registered trademarks of the respective holders. Intrensic and Evidence on Cloud® are registered trade marks of Intrensic LLC. Now part of Wrap Technologies.Cautionary Note on Forward-Looking Statements - Safe Harbor StatementThis press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: statements regarding the Company's overall business; total addressable market; and expectations regarding future sales, expenses and break-even and profitability expectations. Words such as "expect", "anticipate", "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. The Company'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: the Company's ability to successfully implement training programs for the use of its products; the Company's ability to manufacture and produce product for its customers; the Company's ability to develop sales for its new product solution; the acceptance of existing and future products, including the acceptance of the BolaWrap 150; the risk that distributor and customer orders for future deliveries are modified, rescheduled or cancelled in the normal course of business; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solution; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for countries outside of the US; the ability to obtain patents and defend IP against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent annual report on Form 10-K, quarterly report on Form 10-Q, and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.Investor Relations Contact:[email protected] Relations Contact:Leigh Anne Arnold5W Public [email protected] Wrap Technologies, Inc.Condensed Consolidated Statements of Operations and Comprehensive Loss(unaudited - dollars In thousands, except share and per share data)         Three Months Ended June 30, Six Months Ended June 30,  2023   2022   2023   2022 Revenues:       Product sales$1,034  $969  $1,650  $2,431 Other revenue 168   196   263   333 Total revenues 1,202   1,165   1,913   2,764 Cost of revenues 534   708   893   1,640 Gross profit (loss) 668   457   1,020   1,124         Operating expenses (i):       Selling, general and administrative 4,745   3,764   8,286   8,370 Research and development 1,002   1,476   2,073   2,971 Total operating expenses 5,747   5,240   10,359   11,341 Loss from operations (5,079)  (4,783)  (9,339)  (10,217)        Other income (expense) 72   (2)  304   - Net loss($5,007) ($4,785) ($9,035) ($10,217)        Net loss per basic and diluted common share($0.12) ($0.12) ($0.22) ($0.25)Weighted average common shares used to compute net loss per basic and diluted common share 41,709,718   40,978,820   41,483,669   40,943,241         Comprehensive loss:       Net loss($5,007) ($4,785) ($9,035) ($10,217)Net unrealized gain (loss) on short-term investments -   12   -   (11)Comprehensive loss($5,007) ($4,773) ($9,035) ($10,228)        (i) includes stock-based compensation expense as follows:                Three Months Ended June 30, Six Months Ended June 30,  2023   2022   2023   2022 Selling, general and administrative$990  $591  $1,552  $1,485 Research and development 231   136   297   271 Total share-based compensation expense$1,221  $727  $1,849  $1,756       Wrap Technologies, Inc. Consolidated Balance Sheets(unaudited - dollars in thousands)      June 30, December 31,   2023  2022 ASSETS    Current assets:    Cash and cash equivalents$11,688 $5,330 Short-term investments 6,500  13,949 Accounts receivable and contract assets 1,949  2,830 Inventories, net 6,520  3,975 Prepaid expenses and other current assets 722  775 Total current assets 27,379  26,859 Property and equipment, net 588  758 Operating lease right-of-use asset, net 232  285 Intangible assets, net 2,588  2,569 Other assets 69  100 Total assets$30,856 $30,571      LIABILITIES AND STOCKHOLDERS' EQUITY    Current liabilities:    Accounts payable$1,928 $1,419 Accounts liabilities 8,562  1,463 Customer deposits 3  - Deferred revenue 211  166 Operating lease liability - short term 113  108 Total current liabilities 10,817  3,156 Long-term liabilities 264  360 Total liabilities 11,081  3,516 Stockholders' equity 19,775  27,055 Total liabilities and stockholders' equity$30,856 $30,571        Wrap Technologies, Inc.Consolidated Statements of Cash Flows(in thousands)(unaudited)         Six Months Ended June 30,    2023   2022 Cash Flows From Operating Activities:     Net loss  ($9,035) $(10,217)Adjustments to reconcile net loss to net cash     used in operating activities:    Depreciation and amortization  403   380 Share-based compensation  1,849   1,756 Warranty provision  (44)  45 Non-cash lease expense  53   49 Provision for doubtful accounts  (4)  8 Changes in assets and liabilities:    Accounts receivable   884   2,446 Inventories   (2,545)  (467)Prepaid expenses and other current assets   53   168 Accounts payable   508   (417)Operating lease liability   (52)  (41)Customer deposits   3   (39)Accrued liabilities and other   7,149   106 Warranty settlement   (6)  (63)Deferred revenue   8   79 Net cash used in operating activities   (776)  (6,207)      Cash Flows From Investing Activities:     Purchase of short-term investments   (2,645)  (14,890)Proceeds from maturities of short-term investments  10,000   20,000 Capital expenditures for property and equipment  (66)  (168)Investment in patents and trademarks   (176)  (102)Purchase of intangible assets   (10)  - Investment in long-term deposits   -   (2)Proceeds from long-term deposits   31   - Net cash provided by (used in) investing activities  7,134   4,838       Cash Flows From Financing Activities:     Proceeds from exercise of stock options   -   75 Net cash provided by financing activities   -   75       Net decrease in cash and cash equivalents   6,358   (1,294)Cash and cash equivalents, beginning of period  5,330   4,937 Cash and cash equivalents, end of period  $11,688  $3,643 

GlobeNewswire

Wrap Technologies, Inc. Reports Second Quarter 2023 Results and Major Acquisition

https://finance.yahoo.com/news/wrap-technologies-inc-reports-second-200500746.html

707b88d1-ec8b-3c01-b5b7-3f69a5a6626c

WRAP

Wrap Technologies, Inc.TEMPE, Ariz., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP), a visionary leader in advanced public safety solutions, proudly introduces a groundbreaking addition to its robust catalogue of pre-recorded scenarios for its virtual reality training platform, Wrap Reality. This new scenario focuses on using the Incident Command System, a unified approach to emergency management response. It is designed to prepare law enforcement officers with the skills needed to excel at providing strong and steady leadership during times of crisis, and immediately upon arriving on scene.Law enforcement professionals often face situations where quick decision-making, effective information absorption, and efficient resource coordination are vital. Wrap’s Incident Management virtual reality training scenario immerses officers in dynamic and high-pressure situations, enabling them to develop critical skills that are essential for managing critical incidents effectively and ensuring public safety."We are driven to push the boundaries of law enforcement training by creating virtual reality training scenarios thoughtfully designed to mirror real-world challenges," said Kevin Mullins, CEO of Wrap Technologies. "Our Incident Management is the first of its kind, promoting leadership and empowering officers to confidently navigate high-stress situations by making informed decisions, coordinating resources, and managing chaotic scenes with precision."A hallmark of Wrap's approach is its responsiveness to customer feedback and real-world events. Wrap constantly innovates its training scenarios to reflect the evolving field of law enforcement. By actively seeking input from officers who use Wrap Reality, the scenarios are designed to meet their challenges and needs by addressing timely and relevant events shaping the public safety landscape.“Wrap Reality VR has been a game changer with our training. It’s easy to use and navigate, which in turn, increases our training time,” states Deputy Jeff Welch of Hopkins County Sheriff’s Office. “The system provides realistic graphics and scenarios. It is more than a use of force system. It is applicable for all aspects of law enforcement operations. My officers absolutely love using Wrap Reality for training.”Story continuesWrap remains dedicated to revolutionizing law enforcement training through immersive virtual reality experiences and believes continuous innovation and responsiveness to real-world needs contribute to more effective law enforcement practices towards safer communities around the world.For more information about Wrap's Wrap Reality virtual reality training solution, please visit wrap.com/reality.About Wrap Wrap Technologies, Inc. (Nasdaq: WRAP) is a leading global provider of advanced public safety solutions, integrating ultramodern technology, cutting-edge tools, and comprehensive services to address the complex, modern day challenges facing public safety organizations around the world. Guided by a no-harm principle, Wrap is dedicated to developing groundbreaking solutions that empower public safety agencies to safeguard the communities they serve in a manner that fosters stronger relationships. Driving safer outcomes, empowering public safety and communities to move forward together.Wrap's BolaWrap® solution encompasses an innovative and patented hand-held remote restraint device, strategically engineered with Wrap’s no-harm guiding principle to proactively deter escalation by deploying a Kevlar® tether that safely restrains individuals from a distance. Combined with BolaWrap® training, certified by the esteemed International Association of Directors of Law Enforcement Standards and Training (IADLEST), Wrap enables officers from over 900 agencies across the US and 60 countries around the world, with the expertise to effectively use BolaWrap® as an early intervention measure, mitigating potential risks and injuries, averting tragic outcomes.  Saving lives with each wrap.Wrap Reality™, the Company’s advanced virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform equips first responders with the discipline and practice to prevent escalation, de-escalate conflicts, and apply appropriate tactical use-of-force measures to better perform in the field. By offering a growing range of real-life scenarios, Wrap Reality™ addresses the dynamic nature of modern law enforcement situations for positive public safety outcomes. Building safer communities one decision at a time.Wrap’s Intrensic solution is a comprehensive, secure and efficient body worn camera and evidence collection and management solution designed with innovative technology to quickly capture, safely handle, securely store, and seamlessly track evidence, all while maintaining full transparency throughout the process. With meticulous consolidation and professional management of evidence, confidence in law enforcement and the justice system soars, fostering trust and reliability in court outcomes. Intrensic’s efficient system streamlines the entire process seamlessly, empowering all public safety providers to focus on what matters. Expediting justice with integrity.  Connect with Wrap: Wrap on Facebook Wrap on Twitter  Wrap on LinkedIn  Trademark InformationWrap, the Wrap logo, BolaWrap®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.  Cautionary Note on Forward-Looking Statements - Safe Harbor Statement This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: statements regarding the Company’s overall business; total addressable market; and, expectations regarding future sales and expenses. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’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: the Company’s ability to successful implement training programs for the use of its products; the Company’s ability to manufacture and produce product for its customers; the Company’s ability to develop sales for its new product solution; the acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solution; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the US; the ability to obtain patents and defend IP against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.Wrap’s headquarters are in Tempe, Arizona. For more information, please visit wrap.com.Investor Relations Contact: [email protected] Relations Contact: Leigh Anne Arnold5W Public [email protected]

GlobeNewswire

Wrap Technologies Unveils Critical Incident Management Virtual Reality Training Scenario for High-Stress Law Enforcement Environments

https://finance.yahoo.com/news/wrap-technologies-unveils-critical-incident-010500103.html

278836dd-473b-3d24-b792-9dcdc1ae8e24

WRB

Charles Brandes (Trades, Portfolio), the founder and former chairman of Brandes Investment Partners, recently filed the firm's 13F report for the second quarter of 2023. Brandes, who retired in 2018, is renowned for his value investing approach and has authored the book "Value Investing Today". His firm, established in 1974, is a leading investment advisory firm that manages a variety of global equity and fixed-income assets for investors worldwide. It was among the first investment firms to invest globally using a value approach.Portfolio OverviewWarning! GuruFocus has detected 8 Warning Signs with CX. Click here to check it out. CX 30-Year Financial DataThe intrinsic value of CXAs of the end of Q2 2023, the firm's portfolio contained 151 stocks with a total value of $4.96 billion. The top holdings were ERJ (5.49%), CX (3.75%), and WFC (3.21%).Charles Brandes' Q2 2023 13F Filing Update: Key Trades and Portfolio OverviewTop Three Trades of the QuarterThe following were the firm's top three trades of the quarter:Cemex SAB de CV (NYSE:CX)Brandes Investment Partners reduced their investment in Cemex SAB de CV (NYSE:CX) by 8,704,299 shares, impacting the equity portfolio by 1.02%. During the quarter, the stock traded for an average price of $6.35. As of August 15, 2023, CX had a price of $7.99 and a market cap of $11.58 billion. The stock has returned 76.16% over the past year. GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 7 out of 10. In terms of valuation, CX has a price-earnings ratio of 0.51, a price-book ratio of 0.94, a EV-to-Ebitda ratio of 11.62 and a price-sales ratio of 0.64.HCA Healthcare Inc (NYSE:HCA)The firm also reduced their investment in HCA Healthcare Inc (NYSE:HCA) by 113,930 shares, impacting the equity portfolio by 0.64%. During the quarter, the stock traded for an average price of $277.79. As of August 15, 2023, HCA had a price of $268.73 and a market cap of $73.09 billion. The stock has returned 25.26% over the past year. GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 10 out of 10. In terms of valuation, HCA has a price-earnings ratio of 13.22, a price-earnings-to-growth (PEG) ratio of 0.84, a EV-to-Ebitda ratio of 8.34 and a price-sales ratio of 1.22.Story continuesWR Berkley Corp (NYSE:WRB)During the quarter, Brandes Investment Partners bought 325,856 shares of WR Berkley Corp (NYSE:WRB), bringing their total holding to 409,372 shares. This trade had a 0.39% impact on the equity portfolio. During the quarter, the stock traded for an average price of $59.02. As of August 15, 2023, WRB had a price of $62.98 and a market cap of $16.22 billion. The stock has returned -3.94% over the past year. GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10. In terms of valuation, WRB has a price-earnings ratio of 13.84, a price-book ratio of 2.35, a price-earnings-to-growth (PEG) ratio of 1.06, a EV-to-Ebitda ratio of 9.96 and a price-sales ratio of 1.52.This article first appeared on GuruFocus.

GuruFocus.com

Charles Brandes' Q2 2023 13F Filing Update: Key Trades and Portfolio Overview

https://finance.yahoo.com/news/charles-brandes-q2-2023-13f-200802315.html

45769e2f-e64a-3778-99cf-f2ec62df2d82

WRB

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.Why Investors Should Pay Attention to This Value StockFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to highlight the most attractive and discounted stocks.W.R. Berkley (WRB)Founded in 1967 and based in Greenwich, CT., W.R. Berkley Corp. is a Fortune 500 company. It is one of the nation’s largest commercial lines property casualty insurance providers. The company offers a variety of insurance services from reinsurance, to workers comp third party administrators (TPAs).WRB sits at a Zacks Rank #3 (Hold), holds a Value Style Score of B, and has a VGM Score of B. Compared to the Insurance - Property and Casualty industry's P/E of 13.9X, shares of W.R. Berkley are trading at a forward P/E of 13.5X. WRB also has a PEG Ratio of 1.5, a Price/Cash Flow ratio of 12.6X, and a Price/Sales ratio of 1.4X.Many value investors pay close attention to a company's earnings as well. For WRB, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $4.52 per share for 2023. Per share WRB boasts an average earnings surprise of 5.5%.With strong valuation and earnings metrics, a good Zacks Rank, and top-tier Value and VGM Style Scores, investors should strongly think about adding WRB to their portfolios.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 reportStory continuesW.R. Berkley Corporation (WRB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why W.R. Berkley (WRB) is a Strong Value Stock

https://finance.yahoo.com/news/heres-why-w-r-berkley-134006245.html

b779d37f-2fc3-36f2-951e-bb8ef5cb5c1e

WRK

As per reports, packaging companies WestRock Company WRK and Smurfit Kappa Group Plc SMFKY are in talks for a potential merger, which is expected to create a global leader in sustainable packaging.The tie-up is expected to create new holding company, Smurfit WestRock. The entity will have a combination of two highly complementary portfolios with unique product diversity and innovative sustainability capabilities. The combined market capitalization of WestRock and Smurfit Kappa is around $18.9 billion (as of Sep 6, 2023).Smurfit WestRock will have an unmatched geographic reach spanning 42 countries with a significant presence in both Europe and the Americas. Given this scale, the merged entity is expected to be the global “Go-To” packaging partner, per the management of both the companies.The combination will lead to improved operating efficiency and increased returns across more than 500 converting operations and 67 mills.The merged entity’s combined last twelve months’ revenues and adjusted EBITDA were around $34 billion and $5.5 billion, respectively (as of 30 Jun, 2023). The WestRock-Smurfit Kappa combination is expected to result in annual pre-tax run-rate cost synergies of more than $400 million in the first year following its completion.Any potential combination is subject to the approval of shareholders of both the companies, the receipt of required regulatory clearances as well as other customary conditions. There is no assurance, however, at this time whether the deal will be finalized not. Smurfit WestRock would be incorporated and domiciled in Ireland with global headquarters in Dublin, Ireland and North and South American operations headquartered in Atlanta, GA. WestRock shareholders could receive shares of the combined entity.Both WestRock and Smurfit Kappa Group plc are major players in the Paper and Related Products industry. Recently, the industry has been impacted by weak packaging demand, as customer spending has been muted due to inflationary pressures. Nevertheless, increasing packaging requirements due to the rising trend in e-commerce activities and steady demand from consumer-oriented end markets, such as food and beverages and healthcare, are expected to support the industry.Story continuesThe growing preference for paper as a sustainable and eco-friendly packaging option due to environmental concerns will act as a key driver for the industry going forward. The companies are thus working on boosting their capacity to capitalize on this packaging demand.WestRock currently carries a Zacks Rank #3 (Hold).Shares of WestRock have fallen 21.1% in the past year compared with the industry’s 7.8% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS and Hawkins, Inc. HWKN. CRS and HWKN each sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The earnings estimate for Carpenter Technology’s current year is pegged at $3.48 per share, indicating year-over-year growth of 205%. CRS beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 10%. The company’s shares have rallied 84% in the past year.Hawkins has an average trailing four-quarter earnings surprise of 25.5%. The Zacks Consensus Estimate for HWKN’s fiscal 2024 earnings is pegged at $3.40 per share. The consensus estimate for 2024 earnings has moved 38% north in the past 60 days. Its shares have gained 66% in the last year.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportCarpenter Technology Corporation (CRS) : Free Stock Analysis ReportWestRock Company (WRK) : Free Stock Analysis ReportSmurfit Kappa (SMFKY) : Free Stock Analysis ReportHawkins, Inc. (HWKN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

WestRock (WRK) Engages in Merger Talks With Smurfit Kappa

https://finance.yahoo.com/news/westrock-wrk-engages-merger-talks-175700486.html

465ca1a3-9175-32e2-8704-36c4fe7704d7

WRK

Sonoco Products CompanyHARTSVILLE, S.C., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Sonoco Products Company (NYSE: SON) (“Sonoco” or the “Company”), a diversified global packaging leader, today announced the completion of its acquisition of the remaining equity interest in RTS Packaging, LLC (“RTS”) from joint venture partner WestRock (NYSE:WRK) and one WestRock paper mill in Chattanooga, Tennessee. The acquisition, originally announced on November 9, 2022, will further strengthen and expand Sonoco’s 100% recycled fiber-based packaging solutions to serve growing consumer wine, spirits, food, beauty and healthcare markets. Prior to closing the transaction, Sonoco was a 35% owner in the joint venture with WestRock.With this acquisition, Sonoco adds a network of 15 operations and 1,100 employees in the U.S., Mexico, and South America. The purchase price for this acquisition was $330 million, subject to customary price adjustments. The Company funded the acquisition with borrowings under its existing credit facilities and cash on hand. After the transaction, the Company’s net debt to adjusted EBITDA ratio is less than 2.9x. The acquisition is expected to be immediately accretive to earnings per share, excluding the impact of purchase accounting adjustments.About Sonoco Founded in 1899, Sonoco (NYSE:SON) is a global provider of packaging products. With net sales of approximately $7.3 billion in 2022, the Company has approximately 22,000 employees working in more than 310 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products, and a better world, for our customers, employees and communities. The Company ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies for 2022 and was also included in Barron’s 100 Most Sustainable Companies for the fourth consecutive year. For more information on the Company, visit our website at www.sonoco.com.Story continuesForward-Looking Statements This news release includes forward-looking statements. Such forward-looking statements are based on current expectations, estimates and projections about the Company, RTS, and the acquired paper mill in Chattanooga, Tennessee (the “Chattanooga Mill”), the industry and certain assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning the Company’s, RTS’s and the Chattanooga Mill’s future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including the ability of the parties to complete the transaction on the anticipated timetable, the parties’ ability to satisfy the closing conditions to the transaction and the ability of the Company to realize the anticipated benefits and synergies from the transaction. Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements.Additional information concerning some of the factors that could cause materially different results is included in the Company’s reports on forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Such reports are available from the Securities and Exchange Commission’s public reference facilities and its website, sec.gov, and from the Company’s investor relations department and the Company’s website, www.sonoco.com. CONTACT: Contact: Lisa Weeks +843-383-7524 [email protected]

GlobeNewswire

Sonoco Completes Acquisition of RTS Packaging

https://finance.yahoo.com/news/sonoco-completes-acquisition-rts-packaging-122000478.html

fd29fad7-574d-37eb-8d47-528ae5afdd83

WRLD

World Acceptance (WRLD) came out with quarterly earnings of $1.62 per share, beating the Zacks Consensus Estimate of $1.13 per share. This compares to earnings of $1.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 43.36%. A quarter ago, it was expected that this subprime consumer lender would post earnings of $1.49 per share when it actually produced earnings of $1.97, delivering a surprise of 32.21%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.World Acceptance , which belongs to the Zacks Financial - Consumer Loans industry, posted revenues of $139.32 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 0.22%. This compares to year-ago revenues of $157.59 million. The company has topped consensus revenue estimates four times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.World Acceptance shares have added about 107.4% since the beginning of the year versus the S&P 500's gain of 18.1%.What's Next for World Acceptance?While World Acceptance has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Story continuesAhead of this earnings release, the estimate revisions trend for World Acceptance: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.15 on $138.11 million in revenues for the coming quarter and $11.26 on $585.4 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Consumer Loans is currently in the top 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Another stock from the same industry, Curo Group (CURO), has yet to report results for the quarter ended June 2023. The results are expected to be released on August 3.This consumer finance company is expected to post quarterly loss of $0.70 per share in its upcoming report, which represents a year-over-year change of -150%. The consensus EPS estimate for the quarter has been revised 34.2% lower over the last 30 days to the current level.Curo Group's revenues are expected to be $209.81 million, down 31.1% from the year-ago quarter.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportWorld Acceptance Corporation (WRLD) : Free Stock Analysis ReportCURO Group Holdings Corp. (CURO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

World Acceptance (WRLD) Surpasses Q1 Earnings and Revenue Estimates

https://finance.yahoo.com/news/world-acceptance-wrld-surpasses-q1-124503427.html

78db2554-8e36-3da1-9976-803c1e7223de

WRLD

Rounding out this week’s earnings lineup several top-rated Zacks stocks will be releasing their quarterly results on Friday, July 21.These particular stocks belong to strong business industries and here is a look at why they are worthy of investors' consideration at the moment.World Acceptance (WRLD)Starting out of the Zacks Finance sector is World Acceptance which stock currently covets a Zacks Rank #1 (Strong Buy). Plus, World Acceptance’s Zacks Financial-Consumer Loans Industry is in the top 10% of over 250 Zacks industries.World Acceptance is engaged in the small-loan consumer finance business and there is much optimism about the company’s fiscal first-quarter earnings tomorrow. Anticipation is high after World Acceptance most recently blasted its Q4 earnings expectations by 32% in May with EPS at $1.97 compared to estimates of $1.49 a share.This sent shares of WRLD soaring which have now skyrocketed +109% this year to largely outperform the broader indexes and the Finance-Consumer Loans Markets’ +29%.Zacks Investment ResearchImage Source: Zacks Investment ResearchAlthough first-quarter earnings are expected to be down -2% from a year ago at $1.13 per share, there would be little surprise if World Acceptance was able to surpass estimates again. World Acceptance should continue to thrive from its vibrant business environment as a provider of short-term loans, medium-term larger loans, credit insurance, and ancillary products.  Furthermore, annual earnings are now forecasted to skyrocket 213% at $11.26 per share compared to EPS of $3.60 in 2022. World Acceptance stock is definitely one to watch with shares still trading reasonably at $136 and 12.4X forward earnings.   Despite this year’s very impressive rally World Acceptance stock still trades attractively beneath the S&P 500’s 21.4X and closer to its industry average of 7.9X. Even better, shares of WRLD still trade well below their decade-long high of 30.2X and roughly on par with the median of 11.8X.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchAutoNation (AN)Sporting a Zacks Rank #2 (Buy), AutoNation is another stock investors may want to consider at the moment with its Automotive-Retail and Whole Sales Industry in Zacks top 16%.In correlation with its favorable industry outlook, AutoNation is naturally expected to reap the rewards as the largest automotive retailer in the United States. Already coming off of a record year that saw earnings at $24.57 per share, AutoNation’s bottom line is expected to dip-10% in fiscal 2023 but remains robust.Plus, earnings estimate revisions have continued to rise leading up to AutoNation's second-quarter report. Over the last quarter, earnings estimates have now risen 5% for Q2 with annual EPS estimates rising 5% for FY23 and up 3% for FY24.Zacks Investment ResearchImage Source: Zacks Investment ResearchMore intriguing, the Zacks Expected Surprise Prediction (ESP) indicates AutoNation could top its Q2 earnings expectations with the Most Accurate Estimate having EPS at $6.01 and 3% above the Zacks Consensus of $5.80 per share.The cherry on top is that AutoNation stock has soared 65% YTD but still trades very attractively at $176 a share and just 8.4X forward earnings. This is well below the benchmark's forward looking P/E and near its industry average of 7.9X.Zacks Investment ResearchImage Source: Zacks Investment ResearchRoper Technologies (ROP)Lastly, investors may want to consider Roper Technologies stock which currently sports a Zacks Rank #2 (Buy) with its Computers-IT Services Industry in Zacks top 43%.Roper is a tech stock that could still have an abundance of upside this year as a provider of engineered products, software, and solutions to a variety of end markets. Shares of ROP currently trade at $481 and are up a respectable +11% YTD with rising earnings estimates offering furhter support.  Zacks Investment ResearchImage Source: Zacks Investment ResearchSolid quarterly growth is expected with Roper's Q2 earnings projected to be up 1% YoY at $4.00 a share and sales forecasted to climb 14% to $1.50 billion. What is most intriguing is that annual earnings are now anticipated to jump 14% this year at $16.25 per share compared to EPS of $14.28 in 2022.Better still, FY24 earnings are projected to rise another 6%. Fiscal 2024 EPS projections of $17.33 per share would represent 36% growth over the last five years with earnings at $12.74 a share in 2020.Zacks Investment ResearchImage Source: Zacks Investment ResearchBottom LineWorld Acceptance, AutoNation, and Roper Technologies stock look very attractive ahead of their quarterly reports tomorrow. Now appears to be a good time to buy as these stocks are poised to keep rising as we progress through 2023.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 reportWorld Acceptance Corporation (WRLD) : Free Stock Analysis ReportRoper Technologies, Inc. (ROP) : Free Stock Analysis ReportAutoNation, Inc. (AN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

3 Top-Rated Stocks to Consider as Earnings Approach

https://finance.yahoo.com/news/3-top-rated-stocks-consider-135300898.html

012879d5-9c1a-3876-b757-132fb53ba317

WSC

WillScot Mobile Mini Holdings Corp.PHOENIX, Sept. 06, 2023 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), the North American leader in innovative temporary space solutions, today announced that Brad Soultz, Chief Executive Officer, and Matt Jacobsen, Senior Vice President of Finance, will participate in a presentation and host private investor meetings at the RBC Capital Markets Global Industrials Conference in Las Vegas, NV, on September 12, 2023. The presentation will take place at 9:45 am PT.About WillScot Mobile Mini WillScot Mobile Mini trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative and flexible temporary space solutions. The Company’s diverse product offering includes modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, climate-controlled storage units, and a thoughtfully curated selection of furnishings, appliances, and other services so its solutions are turnkey for customers. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of approximately 240 branch locations and additional drop lots throughout the United States, Canada, and Mexico.Additional Information and Where to Find It Additional information can be found on the company's website at www.willscotmobilemini.com.Contact Information     Investor Inquiries: Media Inquiries:Nick Girardi Jake [email protected] [email protected]

GlobeNewswire

WillScot Mobile Mini to Participate in RBC Capital Markets Global Industrials Conference

https://finance.yahoo.com/news/willscot-mobile-mini-participate-rbc-200100228.html

6d10951e-a39f-3ad4-8445-d1727f7ab3ab

WSC

WillScot Mobile Mini Holdings Corp.PHOENIX, Sept. 08, 2023 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), the North American leader in innovative temporary space solutions, today announced that Brad Soultz, Chief Executive Officer, and Matt Jacobsen, Senior Vice President of Finance, will participate in a presentation and host private investor meetings at the Morgan Stanley Laguna Conference in Dana Point, CA, on September 13, 2023. The presentation will take place at 3:10 pm PT.About WillScot Mobile Mini WillScot Mobile Mini trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative and flexible temporary space solutions. The Company’s diverse product offering includes modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, climate-controlled storage units, and a thoughtfully curated selection of furnishings, appliances, and other services so its solutions are turnkey for customers. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of approximately 240 branch locations and additional drop lots throughout the United States, Canada, and Mexico.Additional Information and Where to Find It Additional information can be found on the company's website at www.willscotmobilemini.com.Contact Information     Investor Inquiries: Media Inquiries:Nick Girardi Jake [email protected] [email protected]

GlobeNewswire

WillScot Mobile Mini to Participate in Morgan Stanley Laguna Conference

https://finance.yahoo.com/news/willscot-mobile-mini-participate-morgan-120000970.html

7c895eb1-3e40-3388-a8ae-33766256f9da

WST

EXTON, Pa., Sept. 7, 2023 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, today announced that it will present at Bank of America Global Healthcare Conference in London, UK on Thursday, September 14, 2023 at 10:50 AM BST.(PRNewsfoto/West Pharmaceutical Services, I)A live audio webcast will be available in the "Investors" section of the Company's website at www.westpharma.com. Replay of the webcasts will be available for approximately 90 days after the events.About WestWest Pharmaceutical Services, Inc. is a leading provider of innovative, high-quality injectable solutions and services. As a trusted partner to established and emerging drug developers, West helps ensure the safe, effective containment and delivery of life-saving and life-enhancing medicines for patients. With 10,000 team members across 50 sites worldwide, West helps support our customers by delivering approximately 47 billion components and devices each year.2023 marks West's 100-year milestone of innovation and the critical role it continues to play in healthcare and the patient experience. Headquartered in Exton, Pennsylvania, West in its fiscal year 2022 generated $2.89 billion in net sales. West is traded on the New York Stock Exchange (NYSE: WST) and is included on the Standard & Poor's 500 index. For more information, visit www.westpharma.com.All trademarks and registered trademarks used in this release are the property of West Pharmaceutical Services, Inc. or its subsidiaries, in the United States and other jurisdictions, unless otherwise noted.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/west-to-participate-in-upcoming-investor-conference-301919859.htmlSOURCE West Pharmaceutical Services, Inc.

PR Newswire

West to Participate in Upcoming Investor Conference

https://finance.yahoo.com/news/west-participate-upcoming-investor-conference-100000868.html

3a01650f-c5c3-3580-8e67-418fa84146c7

WST

West Pharmaceutical Services Inc (NYSE:WST) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at $396.37, West Pharmaceutical Services Inc has witnessed a decline of 1.85% over a period, marked against a three-month change of 13.59%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that West Pharmaceutical Services Inc is well-positioned for substantial growth in the near future.Warning! GuruFocus has detected 2 Warning Sign with IDXX. Click here to check it out. WST 30-Year Financial DataThe intrinsic value of WSTUnpacking the Investment Potential of West Pharmaceutical Services Inc (WST): A Deep Dive into Key Financial MetricsDecoding 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.West Pharmaceutical Services Inc has been assigned the following ranks:1. Financial strength rank: 9/102. Profitability rank: 9/103. Growth rank: 10/104. GF Value rank: 3/105. Momentum rank: 9/10Each one of these components is ranked and the ranks also have positive correlation with the long term performances of stocks. The GF score is calculated using the five key aspects of analysis. Through backtesting, we know that each of these key aspects has a different impact on the stock price performance. Thus, they are weighted differently when calculating the total score. With high ranks in financial strength, profitability, and growth, and a slightly lower rank in GF Value, GuruFocus assigned West Pharmaceutical Services Inc the GF Score of 92 out of 100, which signals the highest outperformance potential.Story continuesUnderstanding West Pharmaceutical Services Inc's BusinessWest Pharmaceutical Services is a Pennsylvania-based medical supplies company that operates as a key supplier to firms in the pharmaceutical, biotechnology, and generic drug industries. With a market cap of $29.28 billion and sales of $2.87 billion, the company develops, manufactures, and distributes elastomer-based supplies for the containment and administration of injectable drugs, including basic equipment such as syringes, stoppers, and plungers, along with somewhat more complicated devices including auto-injectors and other self-injection platforms. The company reports in two segments: proprietary products (82% of 2021 sales) and contract-manufactured products (18%). It generates 55% of its revenue from international markets and 45% from the United States.Unpacking the Investment Potential of West Pharmaceutical Services Inc (WST): A Deep Dive into Key Financial MetricsFinancial Strength BreakdownAccording to the Financial Strength rating, West Pharmaceutical Services Inc's robust balance sheet exhibits resilience against financial volatility, reflecting prudent management of capital structure. The Interest Coverage ratio for West Pharmaceutical Services Inc stands impressively at 79.92, underscoring its strong capability to cover its interest obligations. With an Altman Z-Score of 22.42, West Pharmaceutical Services Inc exhibits a strong defense against financial distress. With a favorable Debt-to-Revenue ratio of 0.11, West Pharmaceutical Services Inc's strategic handling of debt solidifies its financial health.Profitability Rank BreakdownThe Profitability Rank shows West Pharmaceutical Services Inc's impressive standing among its peers in generating profit. West Pharmaceutical Services Inc Operating Margin has increased (86.87%) over the past five years. Furthermore, West Pharmaceutical Services Inc's Gross Margin has seen a consistent rise over the past five years, underscoring the company's growing proficiency in transforming revenue into profit.Growth Rank BreakdownRanked highly in Growth, West Pharmaceutical Services Inc demonstrates a strong commitment to expanding its business. The company's 3-Year Revenue Growth Rate is 16%, which outperforms better than 70.34% of 725 companies in the Medical Devices & Instruments industry. Moreover, West Pharmaceutical Services Inc has seen a robust increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past few years.Unpacking the Investment Potential of West Pharmaceutical Services Inc (WST): A Deep Dive into Key Financial MetricsConclusionGiven the company's strong financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights West Pharmaceutical Services Inc's unparalleled position for potential outperformance. This robust financial stance, coupled with its strategic business operations, makes West Pharmaceutical Services Inc a compelling investment opportunity for value investors.GuruFocus Premium members can find more companies with strong GF Scores using the following screener link: GF Score ScreenThis article first appeared on GuruFocus.

GuruFocus.com

Unpacking the Investment Potential of West Pharmaceutical Services Inc (WST): A Deep Dive into ...

https://finance.yahoo.com/news/unpacking-investment-potential-west-pharmaceutical-160313142.html

cf047f57-cf8b-3efb-b070-b7f8591d3df3

WTI

W&T Offshore, Inc.HOUSTON, Sept. 05, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (the “Company” or “W&T”) today announced the promotion of Ford A. Peters to Vice President of Land.Tracy W. Krohn, W&T’s Chairman and CEO, commented, “We are very pleased to promote Ford to Vice President of Land, where he will become an integral part of our senior leadership team. Ford has extensive industry experience and over the past two years has demonstrated the depth of his expertise on a variety of key projects at W&T. We look forward to Ford’s continued contributions to our success as a leading Gulf of Mexico operator.”Ford Peters, who currently serves as Land Manager, joined W&T in 2021 and has since served in various positions of increasing responsibility. Mr. Peters has over 13 years of industry and land related experience. Prior to joining W&T, he held various land and legal related positions with Fieldwood Energy LLC. He has also worked for multiple oil and gas companies as well as real estate firms.Mr. Peters is a licensed Texas Attorney, Registered Professional Landman, and serves on various industry related Boards including the Outer Continental Shelf Advisory Board and the Houston Association of Professional Landmen. He received his Bachelor of Science degree from Texas A&M University and a Doctor of Jurisprudence from South Texas College of Law.About W&T OffshoreW&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. As of June 30, 2023, the Company had working interests in 46 fields in federal and state waters (which include 38 fields in federal waters and eight in state waters). The Company has under lease approximately 578,000 gross acres (419,000 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 8,000 gross acres in Alabama State waters, 416,500 gross acres on the conventional shelf and approximately 153,500 gross acres in the deepwater. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.Story continuesCONTACTS: Al PetrieInvestor Relations [email protected] Sameer ParasnisExecutive VP and CFO [email protected]

GlobeNewswire

W&T Offshore Announces Management Promotion

https://finance.yahoo.com/news/w-t-offshore-announces-management-104500502.html

554945f3-1646-3622-a1a2-7118968f63a1

WTI

In this piece, we will take a look at 11 dirt cheap stocks to buy. If you want to skip our coverage of the current economic environment, then take a look at 5 Dirt Cheap Stocks To Buy. When compared to the optimism that surrounded stocks earlier this year after a strong run during the first half of 2023, the second half is relatively quieter. As opposed to the remainder of the Federal Reserve's interest rate hiking sector and artificial intelligence that dominated sentiment in H1, the second half is different. With weeks left until the Federal Reserve decides to raise interest rates by 25 basis points again or keep them at current levels, questions about the state of the economy and the duration of high interest rates are key questions that could determine where markets are heading moving forward.Talking about valuation, one of the biggest stocks this year has been the graphics processing unit (GPU) designer NVIDIA Corporation (NASDAQ:NVDA). NVIDIA's shares are up 238% year to date, effectively more than doubling any investment made earlier this year. Much of NVIDIA's valuation is based on the revenues that the market expects it to capture in an enterprise computing market shifting towards artificial intelligence. The market believes that NVIDIA can grow its earnings by quite a lot because of superior products for the budding AI market, but there are some quarters that speculate that the firm could be overvalued. Overvaluation is when the share price of a firm is significantly higher than its ability to earn revenue and generate a profit. Chip firms are typically valued at 54 times their earnings, and this has been pushed up by the recent downturn in the chip sector that has led to earnings drops as manufacturers struggle between balancing revenue and keeping costs low. NVIDIA's trailing P/E ratio is 117, helped by the massive increase in its share price.The main measure through which a stock is evaluated for its value is the price to earnings ratio. This determines whether a stock is expensive or cheap, and profitable companies that have low share prices respective to their earnings are often considered cheap. However, these categorizations of value shift when a firm is analyzed and compared with its industry peers. Different industries have different price to earnings ratios, and a firm can be cheap when compared to its peers but expensive in relation to other companies in different sectors or industries. Companies with low P/E ratios typically operate in mature sectors or have mature business models that are unlikely to aggressively pursue market share. On the flip side, for companies in growing sectors such as technology and electric vehicles, the ratio is higher as investors start to factor in future growth potential in the current price.Story continuesCautionary voices warning about overvalued stocks were quite common as the S&P 500 and NASDAQ soared earlier this year, as some investors were wary that share prices were higher simply due to market euphoria about falling inflation and a robust economy. By the end of June, the S&P500 was trading at 19 times its forward earnings, which is higher than the 15.6 historical average, leading Goldman Sachs to speculate that a draw down can come into play now if we take history as an example. This sentiment was echoed by Wells Fargo, which downgraded the technology sector to Neutral. A similar trend was present in the NASDAQ 100, which had been one of the best performing stock indexes this year. The NASDAQ was trading at 27 times price to forward earnings, also higher than the 19.3 times historical average.With the backdrop of lofty valuations in play, it appears that investor sentiment is shifting toward short term economic performance as well. U.S. non farm unemployment stood at 3.8% in August, leading some to worry that perhaps the economy might be slowing down a bit too much. Others believe that the higher unemployment is due to more labor market participation, and the economy is likely to see a soft landing rather than a recession in the wake of the Federal Reserve's rapid interest rate hiking cycle.Considering that valuations are quite important these days, we decided to take a look at some dirt cheap stocks to buy. The stocks that top this list are W&T Offshore, Inc. (NYSE:WTI), Community Health Systems, Inc. (NYSE:CYH), and Baytex Energy Corp. (NYSE:BTE).11 Dirt Cheap Stocks To BuyOur Methodology To compile our list of the best dirt cheap stocks to buy, we made a list of the 18 stocks with the lowest price to trailing earning ratios, a market capitalization greater than $300 million, a share price less than $5, and an average analyst share rating of Buy or better. The stocks were then ranked through their price to forward earnings ratio, and the 11 lowest were sorted through the number of hedge funds that had bought their shares as of Q2 2023 for the list of the best dirt cheap stocks to buy.11 Dirt Cheap Stocks To Buy11. Banco Itaú Chile (NYSE:ITCL)Latest P/E Ratio: 4.82Latest Share Price: $3.61Banco Itaú Chile (NYSE:ITCL) is a Chilean regional bank headquartered in Santiago de Chile, Chile. It is one of the older firms on our list, having been set up in 1871, and has operations in Columbia and Chile. A subsidiary of Itau Chile, the majority shareholder is currently seeing friction from minority shareholders after a bid to increase its stake in Banco Itaú Chile (NYSE:ITCL).By the end of this year's second quarter, one hedge fund out of the 910 polled by Insider Monkey had held a stake in Banco Itaú Chile (NYSE:ITCL). It joins W&T Offshore, Inc. (NYSE:WTI), Community Health Systems, Inc. (NYSE:CYH), and Baytex Energy Corp. (NYSE:BTE) in our list of the best dirt cheap stocks to buy.10. Diana Shipping Inc. (NYSE:DSX)Latest P/E Ratio: 4.52Latest Share Price: $3.62Diana Shipping Inc. (NYSE:DSX) is an ocean shipping company with more than 40 vessels in its fleet. After a series of three consecutive analyst EPS earnings beats, the firm missed the estimates for its second quarter earnings. The stock is rated Buy on average and its stock is down 2% year to date.As of June 2023, seven hedge funds among the 910 part of Insider Monkey's database were the firm's investors. Out of these, Diana Shipping Inc. (NYSE:DSX)'s largest shareholder is Jeremy Hosking's Hosking Partners since it owns 4.2 million shares that are worth $15.5 million.9. LexinFintech Holdings Ltd. (NASDAQ:LX)Latest P/E Ratio: 2.02 Latest Share Price: $2.65LexinFintech Holdings Ltd. (NASDAQ:LX) is a Chinese financial technology firm that offers lending products and services. It is one of the few stocks on our list with a significant stake by retail investors, as the latest estimates show that more than a third of its shares are owned by them.After digging through 910 hedge funds for their June quarter of 2023 investments, Insider Monkey discovered that nine had bought a stake in LexinFintech Holdings Ltd. (NASDAQ:LX). D. E. Shaw's D E Shaw is the company's biggest investor, courtesy of its $1.9 million stake.8. Intuitive Machines, Inc. (NASDAQ:LUNR)Latest P/E Ratio: 5.84 Latest Share Price: $4.89Intuitive Machines, Inc. (NASDAQ:LUNR) is an American firm with an eye on the future as it makes and sells products that are used in lunar exploration. The firm scored a win in August when it disclosed a $20 million investment by an institutional investor.Insider Monkey took a look at 910 hedge funds for their second quarter of 2023 shareholdings and found ten Intuitive Machines, Inc. (NASDAQ:LUNR) investors.7. Enel Chile S.A. (NYSE:ENIC)Latest P/E Ratio: 2.89 Latest Share Price: $3.28Enel Chile S.A. (NYSE:ENIC) is a subsidiary of the global energy giant Enel and it generates and provides power in Chile. Out of its four latest quarters, the firm has beaten analyst EPS estimates for three. The shares are rated Strong Buy on average, and the shares are up 49% year to date, for convincing performance even as the energy sector faltered this year.During June 2023, ten hedge funds out of the 910 surveyed by Insider Monkey had bought the firm's shares. Enel Chile S.A. (NYSE:ENIC)'s largest stakeholder is Israel Englander's Millennium Management due to its $10.7 million investment.6. VAALCO Energy, Inc. (NYSE:EGY)Latest P/E Ratio: 2.85 Latest Share Price: $4.39VAALCO Energy, Inc. (NYSE:EGY) is an American oil and gas exploration and production firm with operations in West African countries. Its has had a horrible year on the earnings front so far by having missed analyst EPS estimates in all four of its latest quarters.Insider Monkey's Q2 2023 survey of 910 hedge funds revealed that 11 had invested in VAALCO Energy, Inc. (NYSE:EGY). Out of these, the company's biggest hedge fund shareholder is George Baxter's Sabrepoint Capital since it owns 2.7 million shares that are worth $10.1 million.W&T Offshore, Inc. (NYSE:WTI), VAALCO Energy, Inc. (NYSE:EGY), Community Health Systems, Inc. (NYSE:CYH), and Baytex Energy Corp. (NYSE:BTE) are some dirt cheap stocks seeing strong hedge fund interest.Click to continue reading and see 5 Dirt Cheap Stocks To Buy. Suggested Articles:Goldman Sachs Defense Stocks: Top 10 Stock Picks12 Largest Magnesium Producing Companies and Best Magnesium Stocks To Buy11 Best Zinc Stocks to Buy in 2023Disclosure: None. 11 Dirt Cheap Stocks To Buy is originally published on Insider Monkey.

Insider Monkey

11 Dirt Cheap Stocks To Buy

https://finance.yahoo.com/news/11-dirt-cheap-stocks-buy-041007568.html

55073cea-7280-3e89-9318-48755c3f3d75

WTRG

Viewing insider transactions for Essential Utilities, Inc.'s (NYSE:WTRG ) 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. Check out our latest analysis for Essential Utilities The Last 12 Months Of Insider Transactions At Essential UtilitiesOver the last year, we can see that the biggest insider purchase was by Chairman Christopher Franklin for US$1.5m worth of shares, at about US$40.70 per share. That means that even when the share price was higher than US$36.69 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. To us, it's very important to consider the price insiders pay for shares. As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. Christopher Franklin was the only individual insider to buy during the last year.The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!insider-trading-volumeEssential Utilities is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.Essential Utilities Insiders Are Selling The StockOver the last three months, we've seen significant insider selling at Essential Utilities. In total, President of Aqua Water Colleen Arnold sold US$52k worth of shares in that time, and we didn't record any purchases whatsoever. This may suggest that some insiders think that the shares are not cheap.Story continuesInsider OwnershipMany investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. It appears that Essential Utilities insiders own 0.2% of the company, worth about US$21m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.What Might The Insider Transactions At Essential Utilities Tell Us?An insider hasn't bought Essential Utilities stock in the last three months, but there was some selling. In contrast, they appear keener if you look at the last twelve months. We like that insiders own a fair amount of the company. So the recent selling doesn't worry us too much. 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. When we did our research, we found 2 warning signs for Essential Utilities (1 is potentially serious!) that we believe deserve your full attention.If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity 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 Essential Utilities Insider Raised Stake By 22% In Previous Year

https://finance.yahoo.com/news/one-essential-utilities-insider-raised-174136734.html

f2345a9f-82df-3acb-abb5-b0d2324fd53b

WTRG

It has been about a month since the last earnings report for Essential Utilities (WTRG). Shares have lost about 11.2% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Essential Utilities due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Essential Utilities Q2 Earnings On Par With EstimatesEssential Utilities Inc. delivered second-quarter 2023 operating earnings per share (EPS) of 34 cents, on par with the Zacks Consensus Estimate. The bottom line surpassed the year-ago quarter’s earnings of 31 cents by 9.7%.Earnings from rates and surcharges and regulated water segment customer growth were offset by decreased regulated natural gas segment volume and other items.Total RevenuesSecond-quarter operating revenues of $437 million lagged the Zacks Consensus Estimate of $468 million by 6.7%. Total revenues were down 2.7% year over year.Highlights of the ReleaseEssential Utilities continues to expand operations through acquisitions. On Jun 20, 2023, the company’s subsidiary, Aqua Ohio, acquired the Union Rome Sewer system in Lawrence County, OH, further expanding its operation.Essential Utilities has signed four purchase agreements to acquire additional water and wastewater systems that will add 208,000 retail customers or equivalent dwelling units to its existing customer base for $336 million.The company invested nearly $547.6 million in the first half of 2023 to improve its regulated water and natural gas infrastructure systems and to enhance customer service across its operations.So far in 2023, the company’s regulated water segment has received rate awards or infrastructure surcharges worth $26.4 million and its regulated natural gas segment has received infrastructure surcharges worth $20.9 million.Operation and maintenance expenses for the second quarter were $133.5 million, down 1.1% from the year-ago figure of $134.9 million.Operating income was $155.3 million, up 12.7% year over year.Interest expenses increased 25.4% to $69.2 million from $55.2 million in the year-ago quarter.Story continuesFinancial HighlightsCurrent assets were $406.7 million as of Jun 30, 2023 compared with $658.2 million as of Dec 31, 2022.Long-term debt was $6,484.5 million as of Jun 30, 2023, higher than $6,615.5 million as of Dec 31, 2022.GuidanceEssential Utilities reaffirmed its 2023 earnings in the range of $1.85-$1.90 per share. The mid-point of the guidance range is a tad higher than the Zacks Consensus Estimate of $1.86 per share.The company expects its customer base in the water segment to expand by 2-3% through acquisitions and organic customer growth.Essential Utilities also plans to invest $1.1 billion in 2023 and $3.3 billion through 2025 to improve the water and natural gas systems and better serve customers using improved information technology.The company expects a compound annual growth rate of 6 to 7% through 2025 and 8 to 10% through 2025 for its regulated water and regulated natural gas segments, respectively.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates revision.VGM ScoresAt this time, Essential Utilities has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of this revision has been net zero. Notably, Essential Utilities has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportEssential Utilities Inc. (WTRG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Essential Utilities (WTRG) Down 11.2% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/essential-utilities-wtrg-down-11-153028867.html

887bc9de-105e-325f-8eb2-74199f6dce44

WTS

Fifth-generation, family-owned manufacturer Bradley Corp. of Menomonee Falls will be acquired by Watts Water Technologies for $303 million while retaining its top executive.Continue reading

American City Business Journals

Family-owned Milwaukee-area manufacturer fetches $303M in sale to East Coast firm

https://finance.yahoo.com/m/dc9ac6d4-9e0b-3b3b-b33f-7ab5a1f0d85b/family-owned-milwaukee-area.html

dc9ac6d4-9e0b-3b3b-b33f-7ab5a1f0d85b

WTS

The company that’s buying family-owned manufacturer Bradley Corp. is committed to American manufacturing and the future of the Menomonee Falls-based firm’s local employees and plants, a Bradley Corp. executive said.Continue reading

American City Business Journals

Buyer of 500-employee Menomonee Falls manufacturer committed to local jobs

https://finance.yahoo.com/m/3296da34-bc23-3e7c-8d89-cba1c9ab00c6/buyer-of-500-employee.html

3296da34-bc23-3e7c-8d89-cba1c9ab00c6

WTW

In this article, we will take a look at the 18 best 52-week low stocks to buy now. To see more such companies, go directly to 5 Best 52-Week Low Stocks To Buy Now.US stock markets are jittery after Fed Chair Jerome Powell made it clear that inflation is still high and needs further taming. Markets also also wavering amid bad news coming from China and some warnings from notable analysts that the economy is still not out of the woods. Talking to Bloomberg, Steve Sosnick, chief strategist at Interactive Brokers, had said that the Federal Reserve had “no choice but to keep it up” until they are “convinced” that inflationary pressures are under control. He stressed that “a pause is not a pivot” and it was important for the Fed to make sure that inflation does not come back.“Doing otherwise risks some of the embers reigniting. Even though two governors favored keeping rates steady in July, it is important to keep in mind that a pause is not a pivot,” Sosnick reportedly said.A latest Bloomberg report said that the Chinese government has asked some investment funds to avoid being net sellers of equities. The move reportedly comes as an effort to stop the rout that is crushing Chinese stocks and assets. Chinese real estate companies are again on investors’ radar amid Country Garden, one of China’s top property developers, showing signs of extreme trouble. The company recently suspended trading in 11 of its onshore bonds and analysts believe the company might be restructuring amid problems to raise enough cash to avoid a default.Best 52-Week Low Stocks To Buy NowPhoto by Ruben Sukatendel on Unsplash Our MethodologyFor this article, we first used stock screener to identify stocks that recently hit 52-week lows or are trading near their 52-week lows. We got a long list of stocks from these checks. From these stocks we selected 18 stocks with the highest number of hedge fund investors. The idea was to find 52-week low stocks that hedge funds are bullish on. Hence, the stocks in this list are the best 52-week low stocks according to smart money investors. The list is ranked in ascending order of the number of hedge fund investors.Story continuesBest 52-Week Low Stocks To Buy Now18. American Electric Power Company, Inc. (NASDAQ:AEP)Number of Hedge Fund Holders: 34American Electric Power Company, Inc. (NASDAQ:AEP) shares recently hit 52-week low. American Electric Power Company, Inc. (NASDAQ:AEP) has lost about 24% over the past year. In July American Electric Power Company, Inc. (NASDAQ:AEP) posted Q2 results. Adjusted EPS in the period came in at $1.13, meeting estimates. Revenue in the quarter fell 4.3% year over year to $4.4 billion, missing estimates by $290 million.A total of 34 hedge funds out of the 943 funds tracked by Insider Monkey reported owning stakes in American Electric Power Company, Inc. (NASDAQ:AEP) as of the end of the first quarter. The biggest stakeholder of American Electric Power Company, Inc. (NASDAQ:AEP) during this period was Dmitry Balyasny’s Balyasny Asset Management which owns an $119 million stake in the company.17. Conagra Brands, Inc. (NYSE:CAG)Number of Hedge Fund Holders: 34Conagra Brands, Inc. (NYSE:CAG) shares have lost about 14% over the past one year. In July, Morgan Stanley downgraded Conagra Brands, Inc. (NYSE:CAG) to Equal Weight from Overweight. Conagra Brands, Inc. (NYSE:CAG)’s analyst Pamela Kaufman said that the stock’s Overweight thesis is not playing out.As of the end of the first quarter of 2023, 34 hedge funds out of the 943 funds in Insider Monkey’s database reported owning stakes in Conagra Brands, Inc. (NYSE:CAG).16. PNM Resources, Inc. (NYSE:PNM)Number of Hedge Fund Holders: 34New Mexico-based energy holding company PNM Resources, Inc. (NYSE:PNM) was near its 52-week lows as of August 16. PNM Resources, Inc. (NYSE:PNM) has lost about 9% over the past one year. PNM recently reported Q2 results. Adjusted EPS in the quarter came in at $0.55, missing estimates by $0.01. Revenue in the period fell 4.5% year over year to $477.16 million, beating estimates by $30.14 million.Insider Monkey’s database of 943 hedge funds shows that 34 hedge funds had reported owning stakes in PNM Resources, Inc. (NYSE:PNM). The most significant stakeholder of PNM Resources, Inc. (NYSE:PNM) during this period was Alec Litowitz and Ross Laser’s Magnetar Capital with a $94 million stake.15. Alcoa Corporation (NYSE:AA)Number of Hedge Fund Holders: 35Aluminum company Alcoa Corporation (NYSE:AA) ranks 15th in our list of the best 52-week low stocks to buy now according to hedge funds. Alcoa Corporation (NYSE:AA) has lost about 42% over the past one year.As of the end of the first quarter of 2023, 35 hedge funds out of the 943 funds in Insider Monkey’s database reported owning stakes in Alcoa Corporation (NYSE:AA).ClearBridge Investments made the following comment about Alcoa Corporation (NYSE:AA) in its Q3 2022 investor letter:“We bought Alcoa Corporation (NYSE:AA), a leading aluminum producer, after the stock sold off over lower commodity prices. The current price of aluminum is unsustainably low, below its cost of production, despite inventories being at historic lows. We believe these depressed prices are due to the evaporation of Chinese demand resulting from its zero COVID-19 policy, but that it will likely recover over the next few quarters.Additionally, Alcoa is leading the industry in reducing carbon emissions from its smelting process which is helping to improve its cost position relative to global competitors. Given its compelling valuation and strong free cash flow yield, we are confident in the company as it is increasingly relied upon to meet the growing structural demand from electrification and the global energy transition.”14. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)Number of Hedge Fund Holders: 37Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was trading new its 52-week lows earlier this month. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) recently posted Q2 results. Adjusted EPS in the period came in at -$1.62, missing estimates by $0.28. Revenue in the quarter jumped 41.8% YoY to $318.75 million, missing estimates by $31.82 million.ClearBridge Select Strategy made the following comment about Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in its Q4 2022 investor letter:“Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), a biotech that develops RNA therapies to target and turn off certain proteins in the body, has a number of drugs in market whose revenues are expected to end the excessive cash burn that has plagued the company’s shares. As more drugs are launched and pipeline investments are more focused under new leadership, we believe the company will be an increasingly attractive asset.”13. Tower Semiconductor Ltd. (NASDAQ:TSEM)Number of Hedge Fund Holders: 37Israel-based Tower Semiconductor Ltd. (NASDAQ:TSEM) ranks 13th in our list of the best 52-week low stocks to buy now. Intel and Tower recently said they have agreed to terminate their $5.4 billion deal according to which Intel was supposed to acquire Tower Semiconductor Ltd. (NASDAQ:TSEM). The decision came as companies were unable to receive necessary regulatory approvals in China.A total of 37 hedge funds out of the 943 hedge funds tracked by Insider Monkey were long Tower Semiconductor Ltd. (NASDAQ:TSEM). The biggest stakeholder of Tower Semiconductor Ltd. (NASDAQ:TSEM) was Richard Mashaal’s Rima Senvest Management which owns a $145 million stake in the company.12. Moderna, Inc. (NASDAQ:MRNA)Number of Hedge Fund Holders: 40Moderna, Inc. (NASDAQ:MRNA) recently hit new lows amid downgrades from TD Cowen and Deutsche Bank. As demand for COVID vaccines tank around the world, analysts are looking for possible growth catalysts for Moderna, Inc. (NASDAQ:MRNA).However, 40 hedge funds in Insider Monkey’s database had stakes in Moderna, Inc. (NASDAQ:MRNA) as of the end of the first quarter.11. Willis Towers Watson Public Limited Company (NASDAQ:WTW)Number of Hedge Fund Holders: 42Insurance services company Willis Towers Watson Public Limited Company (NASDAQ:WTW) fell earlier this month after BMO Capital Markets downgraded the stock to Underperform from Market Perform amid weak Q2 results and guidance cut.However, 42 hedge funds out of the 943 funds in Insider Monkey’s database of hedge funds reported owning stakes in Willis Towers Watson Public Limited Company (NASDAQ:WTW).Here is what Artisan Partners specifically said about Willis Towers Watson Public Limited Company (NASDAQ:WTW) in its Q3 2022 investor letter:“Willis Towers Watson Public Limited Company (NASDAQ:WTW) shares rose 2% in the quarter. This modest increase made it one of our best performers during a difficult quarter. Absent significant news, the business continues to benefit from a hard insurance market. Results are still lagging peers, but the management team seems to be making progress in closing the gap. In the meantime, the company is returning significant amounts of capital to shareholders. Over the past eight months, it has repurchased $4 billion in stock and reduced the share count by 15%. And there is more on the way. This is a good business in a fantastic industry trading at 12X normalized earnings . We believe it is worth much more.”10. SolarEdge Technologies, Inc. (NASDAQ:SEDG)Number of Hedge Fund Holders: 42SolarEdge Technologies, Inc. (NASDAQ:SEDG) is down about 42% over the past one year. SolarEdge Technologies, Inc. (NASDAQ:SEDG) recently fell after the company gave a Q3 revenue guidance that missed analyst estimates by wide margins. In Q3 SolarEdge Technologies, Inc. (NASDAQ:SEDG) expects its revenue in the range of $880 million to $920 million, while analysts’ consensus estimate stood at $1.05 billion.9. Crown Castle Inc. (NYSE:CCI)Number of Hedge Fund Holders: 43Communications infrastructure REIT Crown Castle Inc. (NYSE:CCI) is one of the best 52-week low stocks to buy according to hedge funds. As of the end of the first quarter of 2023, 43 hedge funds out of the 943 funds in Insider Monkey’s database reported owning stakes in Crown Castle Inc. (NYSE:CCI). The most significant stakeholder of Crown Castle Inc. (NYSE:CCI) was Michael Larson’s Bill & Melinda Gates Foundation Trust which owns a $162 million stake in the company.Here is what Aristotle Value Equity has to say about Crown Castle Inc. (NYSE:CCI) in its Q2 2023 investor letter:“Crown Castle, the largest U.S. provider of shared communications infrastructure—cell towers, small cells and fiber—was the largest detractor from performance. The company reported a decline in fiber revenue and a deceleration in tower sales growth during the quarter after record network spending by wireless carriers in 2022 (related to the ongoing rollout of 5G). We continue to appreciate the benefits of management’s differentiated strategy to remain 100% focused on the U.S. while many competitors have instead sought to expand their tower businessesinternationally. We believe Crown Castle’s approach delivers a compelling value proposition as the company’s customers seek to utilize shared infrastructure while making multi‐ billion‐dollar investments in spectrum assets. Although carriers have generally pulled back from network spending this year, we continue to find the structure of Crown Castle’s tower business attractive. This includes the ability to implement a nearly 3% annual price escalator on tower rental rates, the low capital investment needed to maintain its towers and sticky customers with an over 95% renewal rate over the last 5 years. Looking past the short‐term movements in demand, we believe that, over the long term, the company is well‐poised to gain market share and also improve its profitability as it increases the average number of tenants per tower. In addition, management reiterated it is on pace to deploy 10,000 small cell nodes in 2023 (approximately doubling last year’s results). As such, we view Crown Castle as uniquely positioned to benefit from the shift to 5G networks, since the company’s portfolio skews toward urban areas where densification of populations, infrastructure and networks enhances the value proposition of small cells.”8. Illumina, Inc. (NYSE:ILMN)Number of Hedge Fund Holders: 44In early August Illumina, Inc. (NYSE:ILMN) was trading near its 52-week lows. Illumina, Inc. (NYSE:ILMN) has since recovered. Nonetheless it has lost about 20% in value over the past one year.As of the end of the first quarter of 2023, 44 hedge funds out of the 943 funds in Insider Monkey’s database had stakes in Illumina, Inc. (NYSE:ILMN). The most significant stakeholder of Illumina, Inc. (NYSE:ILMN) was Robert Joseph Caruso’s Select Equity Group.Polen Focus Growth Strategy made the following comment about Illumina, Inc. (NASDAQ:ILMN) in its second quarter 2023 investor letter:“The top absolute detractors were Illumina, Inc. (NASDAQ:ILMN), Thermo Fisher Scientific, and PayPal. With respect to detractors, the ongoing headache with Illumina’s acquisition of Grail continues to pressure the company’s share price, in our view. It seems increasingly likely that the company will have to divest the early-stage, cancer-testing company soon, as a divestiture order from the European Commission appears inevitable in the coming months. While we believe regulators far overreach on antitrust concerns, our opinions don’t matter here. We would prefer that Illumina own Grail and better position the company to bring potentially lifesaving cancer screenings to patients across the globe. Our investment thesis is based on Illumina’s competitive position in its core, next-generation genomic sequencing business. We remain sanguine on the company’s ability to compound earnings growth at attractive rates for many years to come, and as such, we find today’s valuation quite attractive. We expect the Grail drama to be in the rearview mirror within the next few quarters.”7. The AES Corporation (NYSE:AES)Number of Hedge Fund Holders: 44American utility company The AES Corporation (NYSE:AES) ranks 7th in our list of the best 52-week low stocks to buy according to hedge funds. The AES Corporation (NYSE:AES)’s decline in August was part of the broader utility sector’s decline amid US Treasury yields surging to their new lows.A total of 44 hedge funds out of the 943 hedge funds in Insider Monkey’s database had stakes in The AES Corporation (NYSE:AES).Massif Capital made the following comment about The AES Corporation (NYSE:AES) in its second quarter 2023 investor letter:“Currently, the portfolio has roughly 11% allocated across two utilities, The AES Corporation (NYSE:AES) and Polaris Renewable Energy. In the case of both equities, we have experienced disappointing 2023 market results, and in the case of AES, it is the long-book’s worst performer YTD, dragging down the overall portfolio by -2.09%. Polaris contributed a positive return of 0.21%. These two positions represent investments in similar assets but very different businesses, which explains much of the divergence in this year’s results.In the case of AES, we have a heavily US-focused utility with significant exposure to regulated and unregulated markets and a significant commitment to building out renewable energy. The firm also has some exposure to electricity markets in South America and exposure to electricity storage markets in the form of its ownership stake in Fluence (FLNC). Despite being one of the larger US utilities, the firm has trailed the sector (as measured by the IXUTR Index) dramatically this year…” (Click here to read the full text)6. Northrop Grumman Corporation (NYSE:NOC)Number of Hedge Fund Holders: 45Defensive giant Northrop Grumman Corporation (NYSE:NOC) was near its 52-week lows earlier this month. Northrop Grumman Corporation (NYSE:NOC) in July posted Q2 results. Net earnings fell 14% to $812 million, or $5.34 a share, from $946 million, or $6.06 a share, a year earlier. However, sales in the period jumped about 9% to reach $9.58 billion, beating estimates of $9.34 billion.A total of 45 hedge funds out of the 943 hedge funds in Insider Monkey’s database reported owning stakes in Northrop Grumman Corporation (NYSE:NOC) at the end of March. The biggest stakeholder of Northrop Grumman Corporation (NYSE:NOC) during this period was Donald Yacktman’s Yacktman Asset Management which owns a $189 million stake in the company.Harding Loevner Global Equity Strategy made the following comment about Northrop Grumman Corporation (NYSE:NOC) in its Q1 2023 investor letter:“Our other purchase was Northrop Grumman Corporation (NYSE:NOC), a US defense contractor whose stock price experienced a pullback. We like that Northrop has a larger presence than its rivals in the most favorable subcategories of the defense industry-namely, nuclear weapons, space systems, and what’s known as C4ISR (which stands for Command, Control, Communications, Computers. Intelligence, Surveillance, and Reconnaissance). C4ISR refers to digital systems that translate data picked up from different sensors-such as an incoming hypersonic missile or advancing troops-into a common format, and then escalate key information to the right people These differentiated technologies are especially relevant in a time of increased geopolitical tensions. Northrop also benefits from large barriers to entry in this stable industry, which should enable continued strong earnings and cash flow.” Click to continue reading and see 5 Best 52-Week Low Stocks To Buy Now. Suggested articles:Goldman Sachs Dividend Stocks: Top 12 Stock Picks15 Smallest Stocks In Warren Buffett’s PortfolioStanley Druckenmiller 13F Portfolio: Top 15 StocksDisclosure: None. 18 Best 52-Week Low Stocks To Buy Now is originally published on Insider Monkey.

Insider Monkey

18 Best 52-Week Low Stocks To Buy Now

https://finance.yahoo.com/news/18-best-52-week-low-133129994.html

73f9df7f-2cfd-3912-902e-0339a846e199

WTW

Willis Towers Watson Public Limited CompanyLONDON, Aug. 31, 2023 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, announced today that it will participate in the 2023 KBW Insurance Conference on Thursday, September 7, 2023, in New York City.Carl Hess, WTW’s Chief Executive Officer, is scheduled to present at the 2023 KBW Insurance Conference at 4:35 p.m. Eastern Time on Thursday, September 7, 2023.A live webcast of the conference presentation will be available at the Investor Relations section of www.wtwco.com. Additionally, a replay of the conference presentation will be available online shortly after the conclusion of the live presentation.ABOUT WTWAt WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.CONTACTINVESTORSClaudia De La Hoz | [email protected]

GlobeNewswire

WTW Announces Upcoming Conference Presentation

https://finance.yahoo.com/news/wtw-announces-upcoming-conference-presentation-210000705.html

22f94035-7cdb-313e-b8de-f24b8b1e390d

WW

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

Insider Monkey

10 Best Performing Small-cap ETFs in 2023

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

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

WW

WW International Inc.NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- WW International, Inc. (NASDAQ: WW) (“WeightWatchers,” “WW,” or the “Company”) today announced that it will present at the following investor conferences.Baird 2023 Global Healthcare ConferenceTuesday, September 12, 2023 at 4:55 pm ET New York, NYPresenters: Heather Stark, Chief Financial Officer and Gary Foster, PhD, Chief Scientific OfficerMorgan Stanley 21st Annual Global Healthcare ConferenceWednesday, September 13, 2023 at 3:35 pm ETNew York, NYPresenters: Sima Sistani, Chief Executive Officer and Heather Stark, Chief Financial OfficerThe presentations will be accessible via live audio webcast on the Company's corporate website at corporate.ww.com in the Investors section under Presentations and Events. An archive of the webcasts will be available on this site for 30 days.About WW International, Inc.WeightWatchers is a human-centric technology company powered by our proven, science-based, clinically effective weight loss and weight management program. For six decades, we have inspired millions of people to adopt healthy habits for real life. We combine technology and community to help members reach and sustain their goals on our program. To learn more about the WeightWatchers approach to healthy living, please visit ww.com. For more information about our global business, visit our corporate website at corporate.ww.com.For more information, contact:Corey [email protected]

GlobeNewswire

WW International, Inc. Announces Participation in Upcoming Investor Conferences

https://finance.yahoo.com/news/ww-international-inc-announces-participation-130000691.html

f6106dc5-0698-3a8f-8da7-a9bee190b28d

WWD

Key InsightsWoodward's estimated fair value is US$215 based on 2 Stage Free Cash Flow to EquityCurrent share price of US$126 suggests Woodward is potentially 41% undervaluedOur fair value estimate is 75% higher than Woodward's analyst price target of US$123Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Woodward, Inc. (NASDAQ:WWD) as an investment opportunity by taking the forecast future cash flows of the company and discounting them back to today's value. This will be done using the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. Check out our latest analysis for Woodward The CalculationWe're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate:Story continues10-year free cash flow (FCF) forecast2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$293.2mUS$357.5mUS$418.0mUS$488.0mUS$539.7mUS$583.3mUS$620.0mUS$651.3mUS$678.5mUS$702.7mGrowth Rate Estimate SourceAnalyst x6Analyst x5Analyst x2Analyst x1Est @ 10.60%Est @ 8.07%Est @ 6.29%Est @ 5.05%Est @ 4.18%Est @ 3.57% Present Value ($, Millions) Discounted @ 6.3% US$276US$316US$348US$382US$397US$404US$403US$399US$390US$380("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$3.7bWe 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 6.3%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$703m× (1 + 2.2%) ÷ (6.3%– 2.2%) = US$17bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$17b÷ ( 1 + 6.3%)10= US$9.3bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$13b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of US$126, the company appears quite undervalued at a 41% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.dcfImportant 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 Woodward as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.3%, which is based on a levered beta of 0.836. 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 WoodwardStrengthEarnings growth over the past year exceeded the industry.Debt is not viewed as a risk.WeaknessDividend is low compared to the top 25% of dividend payers in the Aerospace & Defense market.OpportunityAnnual earnings are forecast to grow faster than the American market.Trading below our estimate of fair value by more than 20%.ThreatAnnual revenue is 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 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. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. What is the reason for the share price sitting below the intrinsic value? For Woodward, we've compiled three relevant aspects you should further research:Financial Health: Does WWD have a healthy balance sheet? Take a look at our free balance sheet analysis with six simple checks on key factors like leverage and risk.Future Earnings: How does WWD's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NASDAQGS every day. If you want to find the calculation for other stocks just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Woodward, Inc.'s (NASDAQ:WWD) Intrinsic Value Is Potentially 70% Above Its Share Price

https://finance.yahoo.com/news/woodward-inc-nasdaq-wwd-intrinsic-120707067.html

53b81e02-4b0f-3419-8bd9-8d14d0ffadca

WWD

Gabelli FundsRYE, N.Y., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Gabelli Funds, LLC, is hosting our annual Aerospace & Defense Symposium at The Harvard Club in New York, NY on September 7th.  The conference will draw 16 companies, with a focus on the themes of the strong demand outlook, high barriers to entry, large aftermarket opportunity, growth in excess of GDP, defense spending, and M&A potential for the Aerospace and Defense industry.  Attendees will also have the opportunity to meet with management in a one-on-one setting.Preliminary Agenda7:50 Gabelli FundsTony Bancroft 8:00 Terran Orbital (NYSE: LLAP)Marc Bell, CEO 8:30 Crane (NYSE: CR)Jay Higgs, President; Richard Maue, Executive VP & CFO; Alex Alcala, Executive VP; Jason Feldman, Treasury & IR 9:00 Kaman (NYSE: KAMN) Ian Walsh, Chairman, President, & CEO; Jamie, Coogan, Senior VP & CFO 9:30 Moog (NYSE: MOG.A)Patrick Roche, CEO; Jennifer Walter, CFO 10:00 FTAI (NASDAQ: FTAI)Joe Adams, CEO 10:30 Ducommun (NYSE: DCO)Suman Mookerji, Senior VP & CFO 11:00 Woodward (NASDAQ: WWD)Dan Provaznik, Director of IR 11:30 Graham Corp (NYSE: GHM)Dan Thoren, President & CEO; Chris Thome, CFO; Matt Malone, President & CEO, Barber-Nichols 12:00 Lunch Break 12:15 Avio S.p.A (BIT: AVIO)Giulio Ranzo, CEO 12:45 Elbit Systems (NASDAQ: ESLT)Joseph Gaspar, Senior Executive VP, Business Management; Rami Myerson, IR Director 1:15 AAR Corp (NYSE: AIR)Sean Gillen, CFO; Dylan Wollin, VP Strategy 1:45 Innovative Solutions and Support (NASDAQ: ISSC)Shahram Askarpour, CEO; Mike Linacre, CFO 2:15 Mynaric (XE: M0YN)Mustafa Veziroglu, CEO; Stefan Berndt-von Bulow, CFO 2:45 Bridger Aerospace (NASDAQ: BAER)McAndrew Rudisill, CIO & Director 3:15 Park Aerospace (NYSE: PKE)Matt Farabaugh, Senior VP & CFO 1x1 Meetings Only General Electric (NYSE: GE)Steve Winoker, VP IR; Blaire Shoor, Executive IR The Harvard Club, New York City, NYThursday, September 7, 2023Story continuesRegistration link: CLICK HEREFor general inquiries, contact:Miles McQuillen, AVP Private Wealth Management, [email protected] Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc.Contact: Tony BancroftPortfolio Manager(914) 921-5083   

GlobeNewswire

Gabelli Funds to Host 29th Annual Aerospace & Defense Symposium at The Harvard Club, New York, NY

https://finance.yahoo.com/news/gabelli-funds-host-29th-annual-141900116.html

7423e106-ec08-3753-9a88-65b885c7a130

WWE

STAMFORD, Conn., September 05, 2023--(BUSINESS WIRE)--WWE® (NYSE: WWE) today announced that Payback, which emanated from PPG Paints Arena in Pittsburgh, became the most-watched and highest-grossing Payback in company history. The premium live event set new records for viewership, gate and merchandise.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230905785600/en/WWE® PAYBACK DELIVERS RECORDS FOR VIEWERSHIP, GATE & MERCHANDISE (Photo: Business Wire)Viewership of Payback was up 36 percent versus the previous record set in 2016. With 12,468 in attendance, it marked the largest gate ever for any Payback, up 13 percent versus the prior record set in Chicago in 2016. Payback also became the highest-grossing WWE event ever held in Pittsburgh.In addition, Payback broke the all-time event merchandise record. In partnership with special event retail partner Fanatics, merchandise sales were up 182 percent versus the previous record set in 2017.2023 Payback was also the most-viewed social Payback of all time with a combined 146 million social views, up 44 percent from the previous record set in 2020. The most-viewed moment across social platforms was Cody Rhodes announcing Jey Uso would be joining the Monday Night Raw roster which generated more than seven million social views across all platforms in one day.About WWEWWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 25 languages through world-class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.Story continuesAdditional information on WWE can be found at wwe.com and corporate.wwe.com.Forward-Looking Statements: This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our outlook regarding future financial results, the impact of recent changes to management and our board of directors (the "Board"): the timing and outcome of the Company's media and other rights negotiations including major domestic programming licenses before their expirations through 2024: the Company's pending business combination with UFC, our plans to remediate identified material weaknesses in our disclosure control and procedures and our internal control over financial reporting, and regulatory, investigative or enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters. The words "may," "will," ·could," ·anticipate," "plan," "continue," "project," "intend," ·"estimate," "believe," ·expect," ·outlook," "target." "goal,'' ·"guidance" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These statements relate to future possible events, as well as our plans, objectives, expectations and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or the performance by us to be materially different from expected future results or performance expressed or implied by any forward-looking statements.These forward-looking statements are subject to uncertainties relating to, without limitation, the consummation of the pending business combination with UFC in the expected timeline or at all; diversion of management's time and attention due to the pending business combination with UFC: the availability of sufficient cash at the close of our transaction with UFC to distribute to shareholders of the new public company in line with current expectations; possible disruptions in our content delivery and online operations and our those of our business partners; privacy norms and regulations; our need to continue to develop creative and entertaining programs and events; our need to retain and continue to recruit key performers; the possibility of a decline in the popularity of our brand of sports entertainment: possible adverse changes in the regulatory atmosphere and related private sector initiatives: the highly competitive. rapidly changing and increasingly fragmented nature of the markets in which we operate and/or our inability to compete effectively, especially against competitors with greater financial resources or marketplace presence; uncertainties associated with international markets including possible disruptions and reputational risks; our difficulty or inability to promote and conduct our live events and/or other businesses if we do not comply with applicable regulations; our dependence on our intellectual property rights, our need to protect those rights, and the risks of our infringement of others’ intellectual property rights; potential substantial liability in the event of accidents or injuries occurring during our physically demanding events; large public events as well as travel to and from such events; our expansion into new or complementary businesses, strategic investments and/or acquisitions; our accounts receivable; the construction and move to our new leased corporate and media production headquarters; litigation and other actions, investigations or proceedings; a change in the tax laws of key jurisdictions; inflationary pressures and interest rate changes; our indebtedness including our convertible notes; our potential failure to meet market expectations for our financial performance; our share repurchase program; the impact of actions by Mr. McMahon (our controlling shareholder, whose interests could conflict with those of our Class A common stockholders); the substantial number of shares are eligible for sale by the McMahons and the sale, or the perception of possible sales, of those shares could cause our stock price to decline; and the volatility in trading prices of our Class A common stock. In addition. our dividend and share repurchases are dependent on a number of factors, including. among other things, our liquidity and historical and projected cash flow, strategic plan (including alternative uses of capital, our financial results and condition. contractual and legal restrictions, general economic and competitive conditions and such other factors as our Board may consider relevant.Forward-looking statements made by the Company speak only as of the date made and are subject to change without any obligation on the part of the Company to update or revise them. Undue reliance should not be placed on these statements. For more information about risks and uncertainties associated with the Company's business. please refer to any documents filed, or to be filed, by the Company with the SEC, including, but not limited to, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of our annual reports on Form 10‑K and 10‑K/A and quarterly reports on Form 10‑Q/A and Form 10‑Q.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905785600/en/ContactsMedia Contact: Chuck [email protected] Contact: Seth Zaslow203 352 [email protected]

Business Wire

WWE® Payback Delivers Records for Viewership, Gate & Merchandise

https://finance.yahoo.com/news/wwe-payback-delivers-records-viewership-130000217.html

58db4c78-4bc8-3ec0-aa88-b2e1b111f6de

WWE

Tickets On Sale Friday, September 15STAMFORD, Conn., September 07, 2023--(BUSINESS WIRE)--WWE® (NYSE: WWE) today announced 26 additional live events as part of the company’s 2023 touring schedule. Tickets go on sale next Friday, September 15.The schedule includes:DateLocationEventVenueSaturday, November 4Rochester, N.Y.WWE SuperShowBlue Cross ArenaSunday, November 5Springfield, Mass.WWE SuperShowMass Mutual CenterFriday, November 10Columbus, OhioSmackDownNationwide ArenaSaturday, November 11Johnson City, Tenn.WWE SuperShowFreedom HallSunday, November 12Roanoke, Va.WWE SuperShowBerglund Center ColiseumMonday, November 13Washington, D.C.RAWCapital One ArenaFriday, November 17Evansville, Ind.SmackDownFord CenterSaturday, November 18Canton, OhioWWE Saturday Night's Main EventCanton Memorial Civic CenterSaturday, November 18Tupelo, Miss.WWE Saturday Night's Main EventCadence Bank ArenaSunday, November 19Saginaw, Mi.WWE Sunday StunnerDow Event CenterSunday, November 19Jonesboro, Ark.WWE Sunday StunnerFirst National Bank CenterSunday, November 26Peoria, Ill.WWE Holiday TourPeoria Civic CenterMonday, November 27Nashville, Tenn.RAWBridgestone ArenaFriday, December 1Brooklyn, N.Y.SmackDownBarclays CenterSaturday, December 2Bangor, MaineWWE Holiday TourCross Insurance CenterSaturday, December 2Allentown, Penn.WWE Holiday TourPPL CenterSunday, December 3Portland, MaineWWE Holiday TourCross Insurance ArenaSunday, December 3Newark, Del.WWE Holiday TourBob Carpenter CenterMonday, December 4Albany, N.Y.RAWMVP ArenaFriday, December 8Providence, R.I.SmackDownAmica Mutual PavilionSaturday, December 9Utica, N.Y.WWE Holiday TourAdirondack Bank CenterMonday, December 11Cleveland, OhioRAWRocket Mortgage FieldhouseFriday, December 15Green Bay, Wisc.SmackDownResch CenterSaturday, December 16Moline, Ill.WWE Holiday TourVibrant Arena at The MarkSunday, December 17Rochester, Minn.WWE Holiday TourMayo Civic CenterMonday, December 18Des Moines, IowaRAWWells Fargo ArenaAbout WWEWWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media and publishing platforms. WWE’s TV-PG programming can be seen in more than 1 billion homes worldwide in 25 languages through world-class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.Story continuesAdditional information on WWE can be found at wwe.com and corporate.wwe.com.Forward-Looking Statements: This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our outlook regarding future financial results, the impact of recent changes to management and our board of directors (the "Board"): the timing and outcome of the Company's media and other rights negotiations including major domestic programming licenses before their expirations through 2024: the Company's pending business combination with UFC, our plans to remediate identified material weaknesses in our disclosure control and procedures and our internal control over financial reporting, and regulatory, investigative or enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters. The words "may," "will," ·could," ·anticipate," "plan," "continue," "project," "intend," ·"estimate," "believe," ·expect," ·outlook," "target." "goal,'' ·"guidance" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These statements relate to future possible events, as well as our plans, objectives, expectations and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or the performance by us to be materially different from expected future results or performance expressed or implied by any forward-looking statements.These forward-looking statements are subject to uncertainties relating to, without limitation, the consummation of the pending business combination with UFC in the expected timeline or at all; diversion of management's time and attention due to the pending business combination with UFC: the availability of sufficient cash at the close of our transaction with UFC to distribute to shareholders of the new public company in line with current expectations; possible disruptions in our content delivery and online operations and our those of our business partners; privacy norms and regulations; our need to continue to develop creative and entertaining programs and events; our need to retain and continue to recruit key performers; the possibility of a decline in the popularity of our brand of sports entertainment: possible adverse changes in the regulatory atmosphere and related private sector initiatives: the highly competitive. rapidly changing and increasingly fragmented nature of the markets in which we operate and/or our inability to compete effectively, especially against competitors with greater financial resources or marketplace presence; uncertainties associated with international markets including possible disruptions and reputational risks; our difficulty or inability to promote and conduct our live events and/or other businesses if we do not comply with applicable regulations; our dependence on our intellectual property rights, our need to protect those rights, and the risks of our infringement of others’ intellectual property rights; potential substantial liability in the event of accidents or injuries occurring during our physically demanding events; large public events as well as travel to and from such events; our expansion into new or complementary businesses, strategic investments and/or acquisitions; our accounts receivable; the construction and move to our new leased corporate and media production headquarters; litigation and other actions, investigations or proceedings; a change in the tax laws of key jurisdictions; inflationary pressures and interest rate changes; our indebtedness including our convertible notes; our potential failure to meet market expectations for our financial performance; our share repurchase program; the impact of actions by Mr. McMahon (our controlling shareholder, whose interests could conflict with those of our Class A common stockholders); the substantial number of shares are eligible for sale by the McMahons and the sale, or the perception of possible sales, of those shares could cause our stock price to decline; and the volatility in trading prices of our Class A common stock. In addition. our dividend and share repurchases are dependent on a number of factors, including. among other things, our liquidity and historical and projected cash flow, strategic plan (including alternative uses of capital, our financial results and condition. contractual and legal restrictions, general economic and competitive conditions and such other factors as our Board may consider relevant.Forward-looking statements made by the Company speak only as of the date made and are subject to change without any obligation on the part of the Company to update or revise them. Undue reliance should not be placed on these statements. For more information about risks and uncertainties associated with the Company's business. please refer to any documents filed, or to be filed, by the Company with the SEC, including, but not limited to, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of our annual reports on Form 10‑K and 10‑K/A and quarterly reports on Form 10‑Q/A and Form 10‑Q.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907107842/en/ContactsMedia: Chuck [email protected] Investors: Seth Zaslow203 352 [email protected]

Business Wire

WWE® Announces Additional Dates to 2023 Live Event Touring Schedule

https://finance.yahoo.com/news/wwe-announces-additional-dates-2023-140000776.html

859d9050-a223-332c-b66a-932d4f8aef4b

WWW

Wolverine World Wide, Inc.'s (NYSE:WWW) investors are due to receive a payment of $0.10 per share on 1st of November. Based on this payment, the dividend yield on the company's stock will be 4.5%, which is an attractive boost to shareholder returns.While the dividend yield is important for income investors, it is also important to consider any large share price moves, as this will generally outweigh any gains from distributions. Wolverine World Wide's stock price has reduced by 36% in the last 3 months, which is not ideal for investors and can explain a sharp increase in the dividend yield. Check out our latest analysis for Wolverine World Wide Wolverine World Wide's Earnings Easily Cover The DistributionsWe like to see robust dividend yields, but that doesn't matter if the payment isn't sustainable. While Wolverine World Wide is not profitable, it is paying out less than 75% of its free cash flow, which means that there is plenty left over for reinvestment into the business. We generally think that cash flow is more important than accounting measures of profit, so we are fairly comfortable with the dividend at this level.According to analysts, EPS should be several times higher next year. If the dividend extends its recent trend, estimates say the dividend could reach 1.9%, which we would be comfortable to see continuing.historic-dividendWolverine World Wide 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. The annual payment during the last 10 years was $0.24 in 2013, and the most recent fiscal year payment was $0.40. This implies that the company grew its distributions at a yearly rate of about 5.2% over that duration. The growth of the dividend has been pretty reliable, so we think this can offer investors some nice additional income in their portfolio.Dividend Growth Potential Is ShakySome investors will be chomping at the bit to buy some of the company's stock based on its dividend history. Unfortunately things aren't as good as they seem. Wolverine World Wide's earnings per share has shrunk at 46% a year over the past five years. This steep decline can indicate that the business is going through a tough time, which could constrain its ability to pay a larger dividend each year in the future. On the bright side, earnings are predicted to gain some ground over the next year, but until this turns into a pattern we wouldn't be feeling too comfortable.Story continuesIn SummaryOverall, we don't think this company makes a great dividend stock, even though the dividend wasn't cut this year. The company has been bring in plenty of cash to cover the dividend, but we don't necessarily think that makes it a great dividend stock. We don't think Wolverine World Wide is a great stock to add to your portfolio if income is your focus.Companies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. For example, we've identified 3 warning signs for Wolverine World Wide (1 shouldn't be ignored!) that you should be aware of before investing. Is Wolverine World Wide not quite the opportunity you were looking for? Why not check out our selection of top dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Wolverine World Wide's (NYSE:WWW) Dividend Will Be $0.10

https://finance.yahoo.com/news/wolverine-world-wides-nyse-dividend-121906794.html

5731ddbb-50f1-3ad0-9742-fcbb87b50413

WWW

Wolverine Worldwide Inc. became the latest footwear company to make a change at the top when, in mid-August, it announced that CEO Brendan Hoffman had suddenly exited. He was promptly replaced by Christopher Hufnagel, formerly president of the company.The move was swift, but praised by industry watchers, who regarded the appointment of the Wolverine veteran as a step in the right direction for the challenged parent company of Saucony, Merrell, Sperry and Sweaty Betty, among other brands.More from Footwear NewsCEO Talks: Arne Freundt Outlines His Vision for Puma's Next ChapterWWD x FN x Beauty Inc 50 Women in Power 2023As CEO, Hufnagel takes the reins of Wolverine’s broad turnaround effort to lead the footwear giant back to profitability. It’s no small task, but it’s also become the standard job description for new footwear CEOs in 2023.Since the start of the year, VF Corp., Academy Sports & Outdoors, Under Armour, Adidas, Designer Brands, Converse, Pacsun, Kohl’s, Belk, Red Wing and more major footwear brands and retailers have ushered in a new top executive to their ranks. And that list grows wider — including firms like Foot Locker, Puma and Reebok — when the aperture is expanded to the last 12 months.These leaders are entering their roles in an unprecedented time for the footwear industry. The supply chain and pandemic-related issues of the last two years have now been replaced with a slew of other challenges — inflation, foreign exchange headwinds, an oversaturated North American athletic footwear market and cost-conscious consumers with little discretionary income to spend on shoes.“CEO jobs have always been challenging,” said Craig Rowley, a senior client partner in the consumer sector for consulting firm Korn Ferry. “[But] they’re probably as challenging and difficult as I’ve seen in my career.”As such, successful CEOs need a new set of qualities to get them through the fog. Namely, a clear vision, a strong sense for what the consumer wants and the ability to pivot quickly when the environment demands it.Story continuesSeeing around the cornerIn tandem with their CEO shifts, Wolverine, VF, Under Armour, Foot Locker and Adidas have all outlined different business transformation plans this year. These new leaders describe 2023 as a “reset” year, to set up their respective brands for long-term success with a focus on streamlining operations, cutting costs and elevating products.For example, as Mary Dillon approaches the one-year mark as CEO of Foot Locker, she told FN one of her top priorities is executing on Foot Locker’s transformation plan — or “Lace Up” strategy. In a recent interview, Dillon said it’s important for company leaders to have broader plans that drive “long-term, sustainable, profitable growth,” even if it takes longer to realize.Former executive chair and CEO of Ulta Beauty Mary Dillon came on board as Foot Locker’s new CEO in September.“Sometimes it takes a minute,” she said. “But at least in the long term, investing in the right places is critical for every business, because the world is changing rapidly.”But how did these companies — and CEOs — get to this point? According to Bobbie Lenga, who leads the global retail practice for leadership advisory firm Russell Reynolds, some of these problems can be chalked up to a general lack of foresight.“There are a lot of companies that are going through turnarounds and it’s not because the CEOs, in most cases, had done something so wrong,” said Lenga. “They just didn’t take action fast enough. This business moves so fast … there wasn’t enough innovation and there wasn’t enough transformation.”An effective retail chief needs a strong vision, or as Lenga put it, the ability to “see around corners.” Just short of predicting the future, retail CEOs need to arm themselves with consumer data and analytics to effectively evolve with consumer preferences.With an emphasis on turnaround experience, some boards have been looking outside the shoe industry and their own ranks to find their new CEOs.“Tenure in the industry is not as critical right now,” said Jaimee Marshall, managing partner of executive search firm Kirk Palmer Associates. “If you look across footwear, as well as retail, apparel and accessories, the sector has been troubled, and boards feel like the same old talent might not be the answer.”VF Corp. president and CEO Bracken Darrell Courtesy of VF Corp.For example, VF Corp. in June appointed Logitech International CEO and president Bracken Darrell as its new president and CEO. Analysts were overall positive on Darrell’s potential to turn the company around, despite his lack of experience in the retail and footwear space. And Stephanie Linnartz joined Under Armour as CEO in February after a 25-year stint in the hospitality industry, culminating in her role as president of Marriott International Inc. As for Dillon at Foot Locker, the bulk of her career was spent in the food industry before entering retail in 2013 as the head of Ulta Beauty.“If the board believes that their company’s current leadership does not yet have a vision for the future and they believe they need to go through dramatic change, the more likely it is they will hire someone completely outside the industry,” said Korn Ferry’s Rowley.Building strong brandsIn his first conference call as Wolverine’s CEO last month, Hufnagel outlined his topline goal: transforming the company into a true “builder of brands” by focusing on product innovation, consumer preferences and demand creation.But building up brand equity is no small feat right now, as the athletic footwear market, in particular, reels with too many products and not enough demand to sustain it.Following Hufnagel’s appointment, Williams Trading analyst Sam Poser wrote in a note to investors that Wolverine’s new chief should be careful not to go too hard, too fast. He further explained to FN that athletic brands need to control allocation in a more measured way, even though it may lead to short-term sales dips. This builds brand equity and keeps products desirable as opposed to omnipresent. “Managing brand sanctity drives long-term profitable growth,” Poser said. “[If] you do this, you grow better and more profitably.”In practice, this might require pulling back distribution across different channels to keep the consumer looking for more. “It looks like what Nike did with Jordan,” Poser said. “You allocate, you control.”For new leaders entering the sneaker industry, Poser said to take this approach: “It’s counterintuitive, [but] if you do less, you get more.”Beyond tracking demand, experts agree that for a CEO to be successful, he or she must have a strong sense for what consumers want. Where are they shopping? What products are making them tick? And where will they choose to cut back when their wallets get stretched?“It’s a matter of how you respond to what your customers are telling you, and how you make adjustments in your business,” said Lenga of Russell Reynolds. “You have to work fast.”Best of Footwear NewsA History of Forever 21: From Humble Beginnings to Bankruptcy and the Shaquille O'Neal BouncebackFootwear Company CEOs You Should KnowList of Footwear Company CEOs You Should Know

Footwear News

As New Leaders Take the Reins, Here’s How to Succeed as a Footwear CEO in 2023

https://finance.yahoo.com/news/leaders-reins-succeed-footwear-ceo-123000584.html

e4b2da02-9ed6-3719-a80b-b2fe0175b489

WY

These dividend-focused investments have upcoming catalysts that could make them compelling buys this fall.Continue reading

Motley Fool

See You in September? 3 Dividend Stocks to Consider Buying This Fall

https://finance.yahoo.com/m/034501e8-c6f6-3b82-98e6-9071d1e97145/see-you-in-september-3.html

034501e8-c6f6-3b82-98e6-9071d1e97145

WY

In this article, we will be analyzing the global timber industry while covering the top 20 largest timber exporting countries in the world. If you want to skip our detailed analysis, you can go directly to the Top 5 Largest Timber Exporting Countries in the World.Timber refers to wood fiber which is specifically used for building structures. A stage in wood production where wood can produce a minimum dimensional size can be classified as timber. Thus, processed beams and planks are timber. It is also referred to as lumber in the United States and Canada.Timber can be divided into hardwood and softwood. Hardwood comes from an angiosperm tree. The timber obtained from hardwood trees is generally dense and heavy as these trees grow slower and take almost 150 years to harvest. Examples of hardwoods include walnut, ash maple, and oak. On the contrary, softwood timber is derived from gymnosperm and this timber is lightweight since it grows faster and becomes ready to harvest in almost 40 years. Softwood timber includes cedars, spruces, firs, and pines.The Timber IndustryThe timber industry is an important part of the global wood market. Timber is any wood that is sewn into planks and beams. According to a report by Mordor Intelligence, the sawn wood market is currently valued at $751.77 million and is expected to grow to $780 million in 2028 at a compound annual growth rate of 0.74%.Asia Pacific serves to dominate the timber market by its high market share. The high market share is due to increased incomes, urbanization, and population growth. The timber consumption rates are high, especially in countries like China. China is one of the world’s largest importers of sawn wood. This can be attributed to the Chinese furniture market. The main producers of timber in the APAC region include countries like India, Malaysia, and Vietnam.The fastest growing region around the world is North America which is expected to grow at a high compound annual growth rate till 2028. However, Latin America and Middle East Africa have low market shares.Story continuesIn another report by Fact.MR, it was reported that Europe is the leading manufacturer of sawn timber. This region is also following green building codes so they consume wood as a sustainable option in buildings, thereby decreasing carbon footprint.Noteworthy Names in the Timber IndustrySome of the known timber market players in the United States include UFP Industries, Inc. (NASDAQ:UFPI), Boise Cascade Company (NYSE:BCC), Weyerhaeuser Company (NYSE:WY), and Jewett Cameron Trading Co (NASDAQ:JCTCF).UFP Industries, Inc. (NASDAQ:UFPI) is a Michigan-based company that started off as a lumber supplier for manufacturing houses. Now, it operates in retail, packaging, and construction segments. It supplies wood and non-wood composites in Asia, North America, Australia, and Europe. On August 22, Business Wire reported that UFP Packaging, a subsidiary of UFP Industries, Inc. (NASDAQ:UFPI), will be launching its packaging solutions in the form of wood pallets, wooden crates, and even customized label packaging at its Las Vegas' PACK Expo that will be held in the coming month of September on September 11-13. PACK Expo is an event conducted for suppliers of packaging to showcase their solutions for different industries.Boise Cascade Company (NYSE:BCC) is another leading name in the North American lumber industry. It produces lumber, panels, and engineered wood products for the residential and construction markets. On August 23, the company reported that it would be acquiring Brockway-Smith, a distributor of millwork and doors. Since Boise Cascade Company (NYSE:BCC) also specializes in wood mill-produced materials for construction, the two firms tend to be of similar nature. Commenting on this upcoming acquisition, Jeff Strom, Executive Vice President, Building Materials Distribution, said:“BROSCO is a long-standing industry leader in the Northeast region known for high-capacity manufacturing, quality artisanship, and a loyal customer base. This acquisition furthers our strategy to expand our millwork business. We are excited to bring this outstanding team on board.”Weyerhaeuser Company (NYSE:WY) is one of the largest wood product manufacturers. It owns many hectares of forests in the United States and works as a real estate investment trust. On July 27, the company reported its financial performance for the second quarter of 2023, hoping to maintain its financial position after acquiring 22,000 acres of timberland in Mississippi, US. On August 22, MSN reported that a former Weyerhaeuser Company (NYSE:WY) building in Everett which used to hold administration offices for the company, was transformed into a coffee and cocktail house. Furthermore, the original woodwork in the building was maintained and QR codes were installed for customers to learn more about the building's history.Based in Oregon, Jewett Cameron Trading Co (NASDAQ:JCTCF) manufactures and distributes wood products. It operates in the US, Canada, Europe, Mexico, and Asia Pacific through three segments. The first segment, Industrial Wood Products supplies industrial wood. The Pet, Fencing and Other segment engages in producing fencing and pet supplies. Furthermore, the company also distributes seeds for agriculture through its Seed Processing and Sales segment. On July 13, the company reported results for the third quarter of fiscal year 2023. It made $18.9 million in revenue as compared to last year’s $20.9 million. Elaborating on the decline in sales for the third quarter of 2023, here is what the CEO, Chad Summers, said:“The winter weather which covered much of the US into April had a negative effect on our 3rd quarter sales, as many of our customers delayed, and then reduced, purchases of our outdoor products”Jewett Cameron Trading Co (NASDAQ:JCTCF) has also decided to wrap up its seed segment by the end of 2023.Recent Trends and ChallengesThe timber industry has given rise to the trend of low-carbon constructions. Timber is considered to be less carbon-intensive and hence it plays a significant role in energy efficiency. Thus, the carbon footprints of buildings are being reduced. Mass timber is being consumed for this purpose. An example of this emerging trend is Walmart Inc.'s (NYSE:WMT) Bentonville-based home office which will be launched by 2025. In this regard,  Walmart Inc. (NYSE:WMT) reported that the new home office will comprise 12 buildings in a 2.4 million square feet of mass timber construction. For this purpose, 1.7 million cubic feet of lumber is being locally sourced by Walmart Inc.(NYSE:WMT).The demand for the timber market keeps on increasing. An increase in income has led to a rise in the consumption of timber since it implies more money spent on housing and building. Furthermore, urbanization and high population growth in countries around the world have also led to an increase in the demand for timber. Flooring, fencing, furniture making, and construction also require timber which further boosts this market. Sawn timber is also being used in the production of pallets. These pallets are utilized for packaging.However, this industry is subject to concerns related to deforestation and its impact on biodiversity. This is evident from the New South Wales' situation regarding the timber market. On August 26, MSN reported that bans on logging are to be imposed in surrounding areas like Victoria and Western Australia. Hence, the timber workers in New South Wales are worried about their future. A Great Koala National Park has also been announced by the government in the thick forests of the region. Only a minor portion of the native forests is available for timber harvesting. In this condition, the task at hand is to accommodate the Koalas in a natural habitat while preserving the timber market which fuels the economy of New South Wales.Now that we have taken a look at the timber industry and its current situation, we can move to the top 20 largest timber exporting countries.Top 20 Largest Timber Exporting Countries in the WorldJosef Hanus/Shutterstock.comMethodologyIn order to find out the top 20 largest timber exporting countries in the world, we sourced data from the FAO Forestry Production and Trade Database. We carried out extensive research to see how timber is represented in this database. FAO reports that it “segregates timber products into 5 general categories: roundwood, sawnwood and sleepers, wood-based panels, wood pulp, paper and paperboard”. Here, roundwood includes both industrial roundwood and non-industrial roundwood.Furthermore, non-industrial roundwood is excluded from the trade data on FAO as it has a low value per unit of volume. Thus, excluding non-industrial roundwood, we considered the categories of industrial roundwood, sawnwood and sleepers, wood-based panels, wood pulp, paper and paperboard to define ‘timber’. We used export volume as of 2021 as a metric. Please note that ‘timber’ represents the above categories whenever mentioned in this article. We added the dollar value of exports for all timber categories to find the total export volume, as quoted in the rankings. Finally, we ranked the top 20 largest timber exporting countries in ascending order of the dollar value of their exports, as follows:Top 20 Largest Timber Exporting Countries in the World20. RomaniaExport Volume: $2.04 Billion One of the largest exporters of timber is Romania. It has old-growth forests in abundance which are now under the threat of legal and illegal logging. A large portion of the overall forestry is subject to illegal logging. Most of the timber is exported to Italy, the US, and China. In 2021, the country exported timber worth $2.04 billion.19. IndiaExport Volume: $2.05 BillionIndia is one of the largest producers of tropical wood in the world. The United States, China, and Nepal are among its top export destinations. However, the country’s exports are affected by unsustainable forestry and illegal logging.  In 2021, India exported $2.05 billion worth of timber.18. UruguayExport Volume: $2.3 BillionAnother top timber exporter is Uruguay. It is known for its native forests. Eucalyptus, pine, blackwood, and hybrid poplar are suitable for timber plantations in this region. The country exported timber worth $2.3 billion in 2021.17. LatviaExport Volume: $2.4 BillionA large part of Latvia is covered with forests, making it a potential timber market. The country’s largest industry is timber processing. It exports to the UK, Germany, and Sweden. In 2021, Latvia exported timber worth $2.4 billion.16. MalaysiaExport Volume:$2.5 BillionThe Malaysian timber market has managed to stay vibrant. Plywood, sawn wood, and furniture are exported from Malaysia to Japan, the US, Singapore, and India. In 2021, Malaysia exported timber worth $2.5 billion, thereby becoming one of the largest exporters of timber in the world.15. PortugalExport Volumes: $2.9 BillionAnother significant exporter of timber is Portugal. It has a sustainable wood sector, having an abundance of forests. The most common plantation is of Eucalyptus. The country exported $2.9 billion worth of timber in 2021.Some notable timber stocks to look up include UFP Industries, Inc. (NASDAQ:UFPI), Boise Cascade Company (NYSE:BCC), Weyerhaeuser Company (NYSE:WY), and Jewett Cameron Trading Co (NASDAQ:JCTCF).14. The Czech RepublicExport Volume: $3 BillionOne of the most forested countries in Europe, The Czech Republic, is one of the important timber producers in the world. It exchanges timber with countries like China, Austria, Romania, and Slovakia. The country exported timber worth $3 billion in 2021.13. ThailandExport Volume: $3.5 BillionAnother leading timber exporter is Thailand. Often, para rubber wood or imported logs here are used as an alternative to banned hardwood logging, as a result of deforestation. In 2021, the country exported $3.5 billion worth of timber.12. ChileExport Volume: $4.5 BillionOne of the leading timber exporters in the world is Chile. An extensive part of the country is filled with native forests. It exports timber to the US, China, Japan and Mexico. In 2021, Chile exported $4.5 billion worth of timber.11. New ZealandExport Volume: $4.8 BillionForestry is a key sector in New Zealand’s economy, making it the eleventh-largest export of timber in the world. Top export destinations for New Zealand include China, Japan, Korea and Australia. It exported $4.8 billion worth of timber in 2021.10. FranceExport Volume: $6.9 BillionAnother top timber exporter is France. It exports sawn timber, veneer, plywood, joinery, and paper products to countries such as Spain, Italy, and the United States. In 2021, the country exported timber worth $6.9 billion.9. AustriaExport Volume: $7.7 BillionThe timber market in Austria is flourishing. The country has one of the highest shares of forests in Europe. Italy, Germany, The Czech Republic and the UK are among Austria’s export destinations. Austria exported timber worth $7.7 billion in 2021.8. RussiaExport Volume: $10 BillionRussia is one of the largest suppliers of timber in the world. Russia has been redirecting its timber to Middle Eastern and North African countries due to sanctions on trade from the West after its Ukrainian invasion. It is one of the largest producers of industrial roundwood. In 2021, the country exported $10 billion worth of timber.Companies that dominate the timber industry include UFP Industries, Inc. (NASDAQ:UFPI), Boise Cascade Company (NYSE:BCC), Weyerhaeuser Company (NYSE:WY), and Jewett Cameron Trading Co (NASDAQ:JCTCF).7. BrazilExport Volume: $11.2 BillionBrazil exports plywood, joinery, furniture, pulp and paper, and sawn wood around the world. A major portion of the country is covered with forests It is the seventh largest exporter of timber, supplying timber worth $11.2 billion in 2021.6. FinlandExport Volume: $14.3 BillionOne of the largest exporters of timber in the world is Finland. It exports timber to Germany, the United States, Sweden, and China. In  2021, the country exported timber worth $14.3 billion.Click to continue reading and see Top 5 Largest Timber Exporting Countries in the World.Suggested articles:Long-Term Returns of Keith Meister's Activist Targets15 Most Popular Private Jets in the World17 Highest Paying Countries for LawyersDisclosure: None. Top 20 Largest Timber Exporting Countries in the World is originally published on Insider Monkey.

Insider Monkey

Top 20 Largest Timber Exporting Countries in the World

https://finance.yahoo.com/news/top-20-largest-timber-exporting-183623650.html

4da153b2-6b0e-3bfb-9934-f050d1065ec9

WYNN

LAS VEGAS (AP) — Wynn Resorts and nine unnamed women are settling a lawsuit alleging the casino company failed to investigate allegations that female employees were sexually harassed by former company CEO Steve Wynn, according to a court document.Attorneys for Wynn Resorts and the women who worked as manicurists and makeup artists filed the document Tuesday in U.S. District Court in Las Vegas. Terms of the agreement were not disclosed.The women accused company officials of being aware and failing to act on allegations of misconduct before Steve Wynn resigned in February 2018. He was not a named a defendant in the case.Wynn, now 81 and living in Florida, has paid record monetary fines to gambling regulators but consistently has denied sexual misconduct allegations in multiple courts.The plaintiffs are identified in the lawsuit only as Judy Doe No. 1 through Judy Doe No. 9. Their attorneys, led by Kathleen England and Jason Maier, did not respond Thursday to emails from The Associated Press.Wynn Resorts spokesman Michael Weaver declined to comment.Steve Wynn's lawyers in Las Vegas, Colby Williams and Donald Campbell, did not respond Thursday to an email from AP requesting comment.The settlement was first reported by the Las Vegas Review-Journal.U.S. District Judge Gloria Navarro scheduled a Nov. 6 court date to dismiss the case to allow time for completion of “the settlement process, including the issuance of settlement fund," according to the court filing.The lawsuit was filed in September 2019 in Nevada state court and moved in October 2019 to U.S. District Court. It was dismissed in July 2020 by a federal judge in Las Vegas who faulted it for using pseudonyms and not specifying individual harassment claims.The 9th Circuit U.S. Court of Appeals revived it in November 2021, ruling the nine women could remain anonymous and amend their complaint to add individual harassment allegations.Steve Wynn resigned from his corporate positions after the Wall Street Journal published allegations by several women that he sexually harassed or assaulted them at his hotels. He divested company shares, quit the corporate board and resigned as finance chairman of the Republican National Committee.Story continuesWynn in July agreed to end a yearslong battle with the Nevada Gaming Commission by paying a $10 million fine and cutting ties to the casino industry he helped shape in Las Vegas, where he developed luxury properties including the Golden Nugget, Mirage and Bellagio. He also developed the Golden Nugget in Atlantic City, New Jersey; Beau Rivage in Biloxi, Mississippi; and Wynn Macau in China.His former company, Wynn Resorts Ltd., paid the commission $20 million in February 2019 for failing to investigate the sexual misconduct claims made against him.Massachusetts gambling regulators fined Wynn Resorts another $35 million and new company chief executive Matthew Maddox $500,000 for failing to disclose when applying for a license for the Encore Boston Harbor resort that there had been sexual misconduct allegations against Steve Wynn.Wynn Resorts agreed in November 2019 to accept $20 million in damages from Steve Wynn and $21 million more from insurance carriers on behalf of current and former employees of Wynn Resorts to settle shareholder lawsuits accusing company directors of failing to disclose misconduct allegations.

AP Finance

Wynn Resorts to settle sexual harassment inaction claim from 9 female salon workers

https://finance.yahoo.com/news/wynn-resorts-settle-sexual-harassment-002940882.html

07257c4f-2e04-3352-b71e-1eb6eabc4fcf

WYNN

It has been about a month since the last earnings report for Wynn Resorts (WYNN). Shares have lost about 9.4% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Wynn due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Wynn Resorts Q2 Earnings & Revenues Beat EstimatesWynn Resorts reported impressive second-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Also, the top and bottom lines grew year over year.The uptrend is backed by consistent performance growth in the company’s Macau and North America properties. Wynn Resorts witnessed growth in mass gaming, luxury retail and hotel businesses in Macau, portraying exceptional post-Covid recovery.Q2 Earnings & RevenuesDuring the quarter, the company reported adjusted earnings of 91 cents per share, beating the Zacks Consensus Estimate of adjusted earnings of 51 cents per share by 78.4%. In the prior-year quarter, the company reported an adjusted loss of 82 cents per share.Quarterly revenues of $1,595.8 million surpassed the consensus mark of $1,491 million by 7%. Also, the top line increased 75.6% on a year-over-year basis. The upside was mainly attributed to performance growth in Wynn Palace and Wynn Macau, resulting from an increase in gaming volumes, hotel occupancy and covers at restaurants.Wynn Palace OperationsDuring the second quarter of 2023, Wynn Palace’s operating revenues were $468.4 million, compared with $58.7 million reported in the prior-year quarter. The reported value can be compared with our model’s projection of $231.1 million or 294% year-over-year growth, which is comparatively on the lower side.Casino revenues in the reported quarter totaled $365.3 million, compared with $27.2 million reported in the prior-year quarter. Rooms, and food and beverage revenues surged a whopping 614.8% and 268.4% year over year to $50.1 million and $25.3 million, respectively. During the quarter under review, entertainment, retail and other revenues increased 57.6% year over year to $27.7 million.In the VIP segment, table games turnover was $3,042.3 million, up 783.2% year over year. VIP table games win (loss) rate (based on turnover) was 4.24% against the loss of 1.94% reported in the prior-year quarter. Table drop in the mass market segment was $1,507.1 million, compared with $210.5 million reported in the prior-year quarter. Table games wins in mass market operations amounted to $305.8 million, compared with $41.6 million reported in the prior-year quarter.During the reported quarter, revenue per available room or RevPAR increased 648.8% year over year to $307. Occupancy levels in the segment came in at 96.5%, compared with 28.5% reported in the prior-year quarter. The average daily rate (ADR) during the quarter came in at $318, up 119.3% on a year-over-year basis.Story continuesWynn Macau OperationsDuring the second quarter, Wynn Macau’s operating revenues amounted to $301.6 million, compared with $58.6 million reported in the prior-year quarter. For this business operation, we projected year-over-year growth of 185.8% to $167.4 million.Casino revenues in the reported quarter were $243 million, up 508% year over year. Rooms, and entertainment, and retail and other revenues grew 448.7% and 106.8% year over year to $26.1 million and $17.8 million, respectively. During the quarter, food and beverage revenues increased 180.4% year over year to $14.7 million.Table games turnover in the VIP segment increased 360.9% year over year to $1,390.3 million. The VIP table games win rate (based on turnover) was 4.16%, lower than 4.79% reported in the prior-year quarter.Table drop in the mass market segment was $1,223.3 million, compared with $216.2 million reported in the prior-year quarter. Table games' win in the mass market category was $216.4 million, compared with $30.6 million reported in the prior-year quarter.During the reported quarter, RevPAR grew 453.2% year over year to $260. Occupancy levels in the segment came in at 96.8%, compared with 31.3% in the prior-year quarter. Furthermore, ADR came in at $269, up 79.3% year over year.Las Vegas OperationsDuring the second quarter, operating revenues from Las Vegas operations were $578.1 million. The reported value is compared with $561.1 million reported in the year-ago quarter and our quarter’s expectation of $712.6 million or 27% year-over-year growth.Casino revenues increased 1.9% year over year to $137.9 million. Revenues from food and beverage declined 0.8% to $195.1 million, while the same increased for rooms as well as entertainment, retail and other by 6.4% and 8.4% year over year to $177.8 million and $67.2 million, respectively.Table games drop was down 0.9% year over year to $559.7 million. Table games wins also declined 7.8% year over year to $128 million. During the second quarter, table games win percentage of 22.9% was below 24.6% reported in the prior-year quarter.During the quarter under review, RevPAR inched up 0.2% year over year to $418. The occupancy rate came in at 90.6%, flat year over year. ADR was $462, up 0.4% year over year.Encore Boston HarborDuring the second quarter, operating revenues from Encore Boston Harbor operations amounted to $221.9 million, up from $210.2 million reported in the prior-year quarter. The reported value is comparatively lower than our projection of 6.4% year-over-year growth to $223.5 million.Casino revenues increased 6.2% year over year to $166.8 million. Furthermore, revenues from rooms, food and beverage, as well as entertainment, retail and other increased 0.5%, 4.1% and 11.2% year over year to $22.5 million, $22 million and $10.6 million, respectively.During the quarter, table games win percentage of 22.3% was above 21.9% reported in the prior-year quarter.During the reported quarter, RevPAR increased 0.8% year over year to $371. The occupancy rate came in at 92.7%, down from 94.1% reported in the prior-year quarter. ADR was $400, up 2.3% year over year.Operating PerformanceDuring the second quarter of 2023, adjusted property EBITDAR was $524.5 million, compared with $179.2 million reported in the prior-year quarter.In the quarter under review, adjusted property EBITDAR from Wynn Macau totaled $89.6 million against ($40.4) million reported in the prior-year quarter. Adjusted property EBITDAR from Las Vegas operations was $224.1 million, compared with $226.7 million reported in the year-ago quarter. Adjusted property EBITDAR from Encore Boston Harbor was $69.1 million, compared with $63.7 million reported in the prior-year quarter.Cash PositionAs of Jun 30, 2023, Wynn Resorts’ cash and cash equivalents totaled $3.65 billion, on par with the value reported as of 2022 end.Total current and outstanding debt at the end of second-quarter 2023 amounted to $12.14 billion. The figure included $2.65 billion of Wynn Las Vegas-related debt, $6.73 billion of Macau debt, $2.15 billion of Wynn Resorts Finance debt and $613.8 million of debt held by the retail joint venture, which the company consolidated.How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.The consensus estimate has shifted 77.92% due to these changes.VGM ScoresCurrently, Wynn has a strong Growth Score of A, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Wynn has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerWynn belongs to the Zacks Gaming industry. Another stock from the same industry, Light & Wonder (LNW), has gained 1.4% over the past month. More than a month has passed since the company reported results for the quarter ended June 2023.Light & Wonder reported revenues of $731 million in the last reported quarter, representing a year-over-year change of +19.8%. EPS of $1.02 for the same period compares with -$0.07 a year ago.For the current quarter, Light & Wonder is expected to post earnings of $0.34 per share, indicating a change of +142.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.2% over the last 30 days.Light & Wonder has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportWynn Resorts, Limited (WYNN) : Free Stock Analysis ReportLight & Wonder, Inc. (LNW) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Wynn (WYNN) Down 9.4% Since Last Earnings Report?

https://finance.yahoo.com/news/why-wynn-wynn-down-9-153026462.html

3e68efa8-612a-30fd-af5c-c95f904be846

X

United States Steel (X) closed the most recent trading day at $30.82, moving -0.64% from the previous trading session. This change lagged the S&P 500's 0.32% loss on the day. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.Coming into today, shares of the steel maker had gained 31.39% in the past month. In that same time, the Basic Materials sector lost 1.57%, while the S&P 500 lost 0.12%.Investors will be hoping for strength from United States Steel as it approaches its next earnings release. In that report, analysts expect United States Steel to post earnings of $0.91 per share. This would mark a year-over-year decline of 53.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.36 billion, down 16.26% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.96 per share and revenue of $17.95 billion. These totals would mark changes of -60.2% and -14.79%, respectively, from last year.Investors might also notice recent changes to analyst estimates for United States Steel. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.21% lower. United States Steel currently has a Zacks Rank of #3 (Hold).In terms of valuation, United States Steel is currently trading at a Forward P/E ratio of 7.84. Its industry sports an average Forward P/E of 8.68, so we one might conclude that United States Steel is trading at a discount comparatively.Story continuesThe Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% 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.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 reportUnited States Steel Corporation (X) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

United States Steel (X) Dips More Than Broader Markets: What You Should Know

https://finance.yahoo.com/news/united-states-steel-x-dips-220020691.html

c886bd83-d184-3c0f-ae66-688016235e6a

X

In this article, we discuss 10 best mining ETFs. If you want to skip our discussion on the mining industry, head directly to 5 Best Mining ETFs.Mining and metals operations are long-term investments. In today's fast-changing environment, companies need to look ahead for sustainable growth. As highlighted by Deloitte, while many mining firms have general ESG goals, specific nature-related targets are rare. Often, ESG is treated separately from core business functions. For example, processes like site selection and mine planning continue as usual. However, nature's impact is expected to affect mining companies directly or through supply chains in the next decade. This impact can create or destroy value in different scenarios. Reflecting these impacts in strategies and valuations is crucial. Developing skills and understanding will help companies protect against threats and make the most of opportunities. Moving forward, mining firms with an integrated approach to nature within their ESG strategy will have an advantage in funding, insurance, talent attraction, and securing permits and social approval.According to KPMG, with the global economy transitioning toward a carbon-free future, a significant concern is whether mining and metals companies possess the capability to supply the increasing quantities of materials required for products like wind turbines, solar panels, and electric vehicles. These materials are essential for facilitating the shift to a net-zero world. The mining and metals industry, as per a global survey conducted by KPMG International, involving over 400 C-level executives representing diversified mining and metal production activities, ranging from steel to coal to lithium, appears to hold a strong belief in its capacity to meet these increasing demand projections. Optimistic viewpoints outnumbered pessimistic ones by nearly 12 to 1 in the survey results. However, among producers of materials critical to achieving a net-zero future, such as lithium and copper, the ratio slightly decreases to 6 to 1 in favor of optimism. KPMG International interviewed Rohitesh Dhawan, who serves as the President and CEO of the International Council on Mining & Metals, an organization representing a significant portion of the global industry. Dhawan, in his role as a representative of the industry, understands its crucial role in a range of issues during this pivotal period in history. He said:Story continues“We’re entering a new phase that we’ve never had before. The world is now fully invested in our industry in a way it was not previously. This means that the things that got us here aren’t the things that will take us to the next phase in our relationship with society. It requires us to engage differently.”As per PwC’s findings, mining revenue remained stable at $711 billion in 2022, marking another year of strong financial performance. However, rising costs and economic uncertainties led to a decrease in EBITDA margins from 32% to 29%. According to PwC, the market capitalization of the Top 40 miners tripled from $400 billion in 2003 to $1.2 trillion in 2022. The energy transition's impact is expected to shape the industry for the next couple of decades. Miners will need to navigate the growing influence of governments and new entrants like automobile companies in the sector, while also positioning themselves well for the clean energy shift that relies on resource access. The focus on critical minerals dominated deal activities in 2022 as miners sought to take advantage of the global shift towards clean energy, driven by two key factors; firstly, these minerals' pivotal role in clean energy technologies like batteries, electric vehicles, and solar and wind power; and secondly, their significance in national defense, technologies, and weaponry. Exploration in gold, copper, lithium, and cobalt saw notable growth in 2022. Given the growing demand and limited supply of critical minerals, continued investment in exploration for these minerals is essential for driving the energy transition. Andries Rossouw, PwC Africa Mining Leader, stated:“Looking forward, the next 20 years has the potential to be as positive for the industry as the last 20 years. Demand for critical minerals—which fuels a growing boom in sustainability requirements like electric vehicles—requires miners to reinvent and reimagine how they will best support their clients and stakeholders globally. The high-demand era of critical minerals is now. It’s full of opportunity; but for those miners who do not reimagine and reinvent their operations by finding the right value-chain partners, they will likely miss out on the opportunity.”In this article, we explore some of the best mining ETFs, which provide investors with access to companies like Newmont Corporation (NYSE:NEM), Agnico Eagle Mines Limited (NYSE:AEM), and Cameco Corporation (NYSE:CCJ). Our MethodologyWe used an ETF screener and filtered out the best performing mining ETFs based on their 5-year performance. We have also discussed the top holdings of the ETFs to offer better insight to potential investors. These ETFs have amassed significant gains in the past 5 years. The list is ranked in ascending order of the 5-year performance of these mining ETFs as of September 9, 2023.10 Best Mining ETFsPixabay/Public DomainBest Mining ETFs10. Global X Gold Explorers ETF (NYSE:GOEX)5-Year Performance as of September 9: 27.18%The Global X Gold Explorers ETF (NYSE:GOEX), which is one of the best mining ETFs, aims to reflect the price and yield performance of the Solactive Global Gold Explorers & Developers Total Return Index, prior to accounting for fees and expenses. This ETF grants investors access to a range of companies engaged in exploring gold deposits. It was introduced on November 3, 2010. As of September 8, 2023, the ETF's total assets stand at $34.52 million, with an expense ratio of 0.65%. Its portfolio consists of 51 stocks.Hecla Mining Company (NYSE:HL) is one of the top holdings of the Global X Gold Explorers ETF (NYSE:GOEX). Hecla Mining Company (NYSE:HL) offers precious and base metal properties in the United States and globally. The company engages in the extraction of silver, gold, lead, and zinc concentrates. It also handles carbon material containing silver and gold, which it sells to custom smelters, metal traders, and third-party processors. Additionally, the company deals in doré, a substance containing silver and gold.According to Insider Monkey’s second quarter database, 18 hedge funds were bullish on Hecla Mining Company (NYSE:HL), compared to 17 funds in the prior quarter. Eric Sprott’s Sprott Asset Management held the largest position in the company, with 2.63 million shares valued at $13.56 million.9. iShares MSCI Global Metals & Mining Producers ETF (BATS:PICK)5-Year Performance as of September 9: 29.46%The iShares MSCI Global Metals & Mining Producers ETF (BATS:PICK) aims to replicate the performance of the MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index. This index tracks global companies primarily engaged in mining, extraction, and production of various metals, excluding gold and silver. Launched on January 31, 2012, the ETF holds approximately $1.43 billion in net assets, with a portfolio containing 267 stocks as of September 9, 2023. The expense ratio is 0.39%.BHP Group Limited (NYSE:BHP) is the largest holding of the iShares MSCI Global Metals & Mining Producers ETF (BATS:PICK). BHP Group Limited (NYSE:BHP) functions as a resource company with operations spread worldwide. The company's activities are divided into Copper, Iron Ore, and Coal segments. Its operations include mining copper, silver, zinc, molybdenum, uranium, gold, iron ore, as well as metallurgical and energy coal.According to Insider Monkey’s second quarter database, 23 hedge funds were long BHP Group Limited (NYSE:BHP), compared to 24 funds in the preceding quarter. Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company, with approximately 1.8 million shares worth $105.94 million.Like Newmont Corporation (NYSE:NEM), Agnico Eagle Mines Limited (NYSE:AEM), and Cameco Corporation (NYSE:CCJ), BHP Group Limited (NYSE:BHP) is one of the best mining stocks to buy.Here is what Harding Loevner has to say about BHP Group Limited (NYSE:BHP) in its Q1 2021 investor letter:“Our purchase of Australian mining company BHP is an example of a quality company at a moderate valuation that should deliver attractive long-term returns. We believe the market has undervalued its enduring competitive advantage due to its low cost iron and copper mining operations which has allowed the company to deliver consistent profits and cash flows across the inevitable ups and downs of the global metals cycle. While the variability of commodity prices prevents BHP from scoring in the top ranks of measured quality, we are willing to bear some of that uncertainty in return for a more attractive valuation given the company’s strong business fundamentals.”8. U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE:GOAU)5-Year Performance as of September 9: 46.70%The U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE:GOAU), recognized as one of the best mining ETFs, grants investors access to companies involved in the production of precious metals. This involvement can be either active, such as mining or production, or passive, like holding royalties or production streams. The ETF is based on the U.S. Global GO GOLD and Precious Metal Miners Index. It was introduced on June 27, 2017. As of September 7, 2023, the fund's net assets total $87.9 million, with an expense ratio of 0.60%. The ETF's portfolio consists of 28 stocks.Franco-Nevada Corporation (NYSE:FNV) is a prominent holding of the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE:GOAU). Franco-Nevada Corporation (NYSE:FNV) functions as a company focused on gold-related royalties and streaming. It operates in Latin America, the United States, Canada, and internationally. The company is divided into two segments – Mining and Energy.According to Insider Monkey’s second quarter database, 23 hedge funds were bullish on Franco-Nevada Corporation (NYSE:FNV), in contrast to the last quarter, when 31 funds had invested in the stock. Jean-Marie Eveillard’s First Eagle Investment Management is the largest position holder in the company, with 2.2 million shares worth $311.76 million.Here is what Horizon Kinetics has to say about Franco-Nevada Corporation (NYSE:FNV) in its Q3 2022 investor letter:“Back to basic principles. We don’t hold gold in client portfolios, we hold gold royalty companies. The two have surprisingly little in common. The gold royalty company generates very impressive profits even if the gold price never rises, and it earns those profits year after year. Here is a long-term chart of Franco Nevada Corp., the premier gold royalty company vs. gold itself: a comparable gold price today than a decade ago, yet Franco Nevada returned 12.5% annually, matching the S&P 500 return, despite its nearsole source of revenues unchanged. What will Franco Nevada’s earnings and share price do if gold rises over the course of a decade?”7. VanEck Steel ETF (NYSE:SLX)5-Year Performance as of September 9: 50.67%The VanEck Steel ETF (NYSE:SLX) aims to closely replicate the price and yield performance of the NYSE Arca Steel Index. This index is designed to reflect the overall performance of companies within the steel sector. VanEck Steel ETF (NYSE:SLX) is one of the best mining ETFs. The ETF was introduced on October 10, 2006. As of September 8, 2023, the fund holds net assets totaling $121.50 million, with a portfolio including 26 stocks. Its net expense ratio is 0.56%.Rio Tinto Group (NYSE:RIO) is one of the top holdings of the VanEck Steel ETF (NYSE:SLX). Rio Tinto Group (NYSE:RIO) is involved in the global exploration, mining, and processing of mineral resources. The company's operations are categorized into Iron Ore, Aluminium, Copper, and Minerals Segments. Additionally, Rio Tinto Group (NYSE:RIO) owns and manages open pit and underground mines, and facilities such as refineries, smelters, concentrators, and power stations.According to Insider Monkey’s second quarter database, 29 hedge funds were bullish on Rio Tinto Group (NYSE:RIO), compared to 33 in the previous quarter. Brandon Haley’s Holocene Advisors held a significant position in the company, with 869,470 shares worth $55.5 million.HL International Equity Strategy made the following comment about Rio Tinto Group (NYSE:RIO) in its first quarter 2023 investor letter:“In terms of geographical performance, the eurozone emerged as the top-performing region, and our stocks did better still, fueled by the strong performance of Infineon, L’Oréal, and Schneider Electric. EMs, which lagged the index, were boosted by the improving outlook for semiconductor companies TSMC and Samsung. Mexico’s FEMSA also contributed strongly to relative returns. Europe ex EMU was the weakest region primarily due to the underperformance of SE Banken and UK miner Rio Tinto Group (NYSE:RIO). The latter was affected by concerns over softer iron ore pricing in the current year, another reflection of manufacturing weakness in steelmaking giant China.”6. SPDR S&P Metals and Mining ETF (NYSE:XME)5-Year Performance as of September 9: 51.77%The SPDR S&P Metals and Mining ETF (NYSE:XME) seeks to deliver investment outcomes that align with the total return performance of the S&P Metals and Mining Select Industry Index. It provides exposure to the metals and mining sector within the S&P Total Market Index, including sub-industries like Aluminum, Coal & Consumable Fuels, Copper, Diversified Metals & Mining, Gold, Precious Metals & Minerals, Silver, and Steel. Launched on June 19, 2006, the fund holds assets under management valued at $1.73 billion as of September 7, 2023. Its portfolio includes 32 stocks, and it features an expense ratio of 0.35%. It is one of the best mining ETFs to monitor. United States Steel Corporation (NYSE:X) is one of the top holdings of the SPDR S&P Metals and Mining ETF (NYSE:XME). United States Steel Corporation (NYSE:X) is a manufacturer and distributor of flat-rolled and tubular steel products, primarily serving markets in North America and Europe. The company's operations are divided into four segments – North American Flat-Rolled, Mini Mill, U. S. Steel Europe, and Tubular Products.According to Insider Monkey’s second quarter database, 33 hedge funds were bullish on United States Steel Corporation (NYSE:X), up from 30 in the previous quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP held the largest position in the company, with 6.13 million shares valued at $153.4 million.Like Newmont Corporation (NYSE:NEM), Agnico Eagle Mines Limited (NYSE:AEM), and Cameco Corporation (NYSE:CCJ), United States Steel Corporation (NYSE:X) is one of the best mining stocks to buy.   Click to continue reading and see 5 Best Mining ETFs.  Suggested articles:10 Biotech Stocks with Biggest Upside30 Wealthiest Countries by Per Capita Net Worth15 Largest Biodiesel Producers in the World Disclosure: None. 10 Best Mining ETFs is originally published on Insider Monkey.

Insider Monkey

10 Best Mining ETFs

https://finance.yahoo.com/news/10-best-mining-etfs-190659919.html

3e252988-3de0-3e48-a7e5-696d61a22c72

XAIR

Beyond Air™GARDEN CITY, N.Y., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR) (“Beyond Air” or the “Company”) a commercial stage medical device and biopharmaceutical company focused on harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders and solid tumors (through its affiliate Beyond Cancer, Ltd.), today announced that Steve Lisi, Chairman and Chief Executive Officer of Beyond Air, will present a corporate overview and participate in one-on-one meetings at the 2023 Cantor Global Healthcare Conference, on Wednesday, September 27th.2023 Cantor Global Healthcare Conference: September 26 – 28, 2023 Title:Beyond Air (NASDAQ: XAIR) Company Presentation Date & Time:Wednesday, September 27th, at 9:10 a.m. – 9:40 a.m. ET Participant:Steve Lisi, Chairman & CEO, Beyond Air Webcast Link:https://wsw.com/webcast/cantor19/xair/2102100   If you are interested in requesting a 1x1 meeting at the conference, please contact your bank/conference representative.About Beyond Air®, Inc.Beyond Air is a commercial stage medical device and biopharmaceutical company dedicated to harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders, and solid tumors. The Company has received FDA approval for its first system, LungFit® PH for the treatment of term and near-term neonates with hypoxic respiratory failure. Beyond Air is currently advancing its other LungFit systems in clinical trials for the treatment of severe lung infections such as viral community-acquired pneumonia (including COVID-19), and nontuberculous mycobacteria (NTM). The Company has also partnered with The Hebrew University of Jerusalem to advance a pre-clinical program dedicated to the treatment of autism spectrum disorder (ADS) and other neurological disorders. Beyond Cancer, Ltd., an affiliate of Beyond Air, is investigating ultra-high concentrations of NO with a proprietary delivery system to target certain solid tumors in the pre-clinical setting. For more information, visit www.beyondair.net.Story continuesForward Looking StatementsThis press release contains “forward-looking statements” concerning the potential safety and efficacy of inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate, as well as its therapeutic potential in a number of indications; and the potential impact on patients and anticipated benefits associated with inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate. Forward-looking statements include statements about expectations, beliefs, or intentions regarding product offerings, business, results of operations, strategies or prospects. You can identify such forward-looking statements by the words “appears,” “expects,” “plans,” “anticipates,” “believes” “expects,” “intends,” “looks,” “projects,” “goal,” “assumes,” “targets” and similar expressions and/or the use of future tense or conditional constructions (such as “will,” “may,” “could,” “should” and the like) and by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from any future results expressed or implied by the forward-looking statements. These forward-looking statements are only predictions and reflect views as of the date they are made with respect to future events and financial performance. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including risks related to the ability to raise additional capital; the timing and results of future pre-clinical studies and clinical trials; the potential that regulatory authorities, including the FDA and comparable non-U.S. regulatory authorities, may not grant or may delay approval for our product candidates; the approach to discover and develop novel drugs, which is unproven and may never lead to efficacious or marketable products; the ability to fund and the results of further pre-clinical studies and clinical trials of our product candidates; obtaining, maintaining and protecting intellectual property utilized by products; obtaining regulatory approval for products; competition from others using similar technology and others developing products for similar uses; dependence on collaborators; and other risks, which may, in part, be identified and described in the “Risk Factors” section of Beyond Air’s most recent Annual Report on Form 10-K and other of its filings with the Securities and Exchange Commission, all of which are available on Beyond Air’s website. Beyond Air and Beyond Cancer undertake no obligation to update, and have no policy of updating or revising, these forward-looking statements, except as required by applicable law.CONTACTS:Edward BargerHead of Investor [email protected] Davis, Ph.D.LifeSci Advisors, [email protected]

GlobeNewswire

Beyond Air® To Participate in the 2023 Cantor Global Healthcare Conference

https://finance.yahoo.com/news/beyond-air-participate-2023-cantor-110000003.html

92b6e8c6-8614-38e6-96ab-f8320d0d181c

XAIR

Beyond Air™Partnership provides access to hospitals in key Asia-Pacific countriesGetz Healthcare will make a payment to Beyond Air upon receipt of CE Mark Beyond Air will receive royalty payments based on net salesGARDEN CITY, New York, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR) (“Beyond Air” or the “Company”), a commercial stage medical device and biopharmaceutical company focused on harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders and solid tumors (through its affiliate Beyond Cancer, Ltd. (“Beyond Cancer”)), today announced that it has entered into an agreement with Getz Healthcare to commercialize the LungFit PH device in certain countries across the Asia-Pacific region, pending regulatory approvals.“This partnership with Getz Healthcare expands the reach of Beyond Air’s innovative technology into key growth markets outside of the United States,” stated Steve Lisi, Chairman and Chief Executive Officer of Beyond Air. “We are excited to work with such a strong partner which is well positioned to maximize the potential for LungFit PH in the Asia-Pacific region.”Under the terms of the agreement, Getz Healthcare will make a milestone payment to Beyond Air following CE mark certification of LungFit PH in the European Union. CE mark certification in Europe provides a pathway to approval in certain countries across the Asia-Pacific region. In addition, Beyond Air will receive ongoing royalty payments based on net sales of LungFit PH.The partnership provides access to hospitals in Australia, New Zealand, Thailand, Philippines, Taiwan, Hong Kong, Malaysia, Pakistan, Singapore and Vietnam. Getz Healthcare will manage the logistics, sales, service, and maintenance process in each of these countries where they have extensive experience with medical device distribution and hospital sales. Also, Getz Healthcare’s regulatory team will handle local product registration in addition to customer service and support. Beyond Air will provide the LungFit PH device and all accessories on a cost-plus basis, as well as providing other support services in areas such as marketing.Story continuesJames Simkins, CEO of Getz Healthcare, commented, “We are thrilled to announce our partnership with Beyond Air, a pivotal step forward in Getz Healthcare’s unwavering commitment to deliver impactful healthcare solutions to the Asia-Pacific region. Together, we will be pioneering innovative approaches in the delivery and access to nitric oxide therapy."BTIG, LLC acted as the financial advisor to Beyond Air, Inc.About LungFit®PH*Beyond Air’s LungFit PH is a cylinder-free, phasic flow generator and delivery system that has received premarket approval (PMA) from the U.S. Food and Drug Administration (FDA). The device is ventilator compatible and can generate NO from ambient air on demand for delivery to the lungs at concentrations ranging from 1 ppm to 80 ppm. LungFit PH could potentially replace large, high-pressure NO cylinders providing significant advantages in the hospital setting, including greatly reducing inventory and storage requirements, improving overall safety with the elimination of NO2 purging steps, and other benefits. LungFit PH is the first and only FDA approved system with patented Ionizer technology that generates nitric oxide using room air, enabling the delivery of unlimited, on-demand nitric oxide regardless of dose and flow.* Beyond Air’s LungFit PH is currently approved for commercial use only in the United States of America to treat term and near-term neonates with hypoxic respiratory failure. About Beyond Air®, Inc.Beyond Air is a commercial stage medical device and biopharmaceutical company dedicated to harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders, and solid tumors. The Company has received FDA approval for its first system, LungFit® PH for the treatment of term and near-term neonates with hypoxic respiratory failure. Beyond Air is currently advancing its other LungFit systems in clinical trials for the treatment of severe lung infections such as viral community-acquired pneumonia (including COVID-19), and nontuberculous mycobacteria (NTM). The Company has also partnered with The Hebrew University of Jerusalem to advance a pre-clinicals program dedicated to the treatment of autism spectrum disorder (ADS) and other neurological disorders. Beyond Cancer, Ltd., an affiliate of Beyond Air, is investigating ultra-high concentrations of NO with a proprietary delivery system to target certain solid tumors in the pre-clinical setting. For more information, visit www.beyondair.net.About Getz HealthcareGetz Healthcare is recognized as the leading distributor of medical equipment, devices, and consumables, in Asia Pacific. The company is an ISO 9001:2015 certified company, and partners with leading manufacturers in medical technology, to offer a wide range of innovative and high-quality products and solutions, enabling customers to focus on what is important – providing better care for patients. Headquartered in Singapore, Getz Healthcare has been operating in the Asia Pacific region for over 110 years, serving over 7,500 customers, from 23 offices and distribution centers, spread across Australia, Hong Kong, Malaysia, New Zealand, Pakistan, Philippines, Taiwan, Thailand, and Vietnam. Getz Healthcare is part of The Getz Group of companies. The company’s mission is to bring meaningful healthcare solutions to the people of Asia Pacific.Forward Looking StatementsThis press release contains “forward-looking statements” concerning the Company’s expectations regarding the collaboration with Getz Healthcare, the potential for LungFit PH device to be approved for commercialization in certain countries across the Asia Pacific region; and the potential safety and efficacy of the Company’s products and product candidates. Forward-looking statements include statements about expectations, beliefs, or intentions regarding product offerings, business, results of operations, strategies or prospects. You can identify such forward-looking statements by the words “appears,” “expects,” “plans,” “anticipates,” “believes” “expects,” “intends,” “looks,” “projects,” “goal,” “assumes,” “targets” and similar expressions and/or the use of future tense or conditional constructions (such as “will,” “may,” “could,” “should” and the like) and by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from any future results expressed or implied by the forward-looking statements. These forward-looking statements are only predictions and reflect views as of the date they are made with respect to future events and financial performance. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including the timing and results of future pre-clinical studies and clinical trials; the potential that regulatory authorities, including the FDA and comparable non-U.S. regulatory authorities, may not grant or may delay approval for our product candidates; the approach to discover and develop novel drugs, which is unproven and may never lead to efficacious or marketable products; the ability to raise additional capital; the results of further pre-clinical studies and clinical trials of our product candidates; obtaining, maintaining and protecting intellectual property utilized by products; obtaining regulatory approval for products; competition from others using similar technology and others developing products for similar uses; dependence on collaborators; and other risks, which may, in part, be identified and described in the “Risk Factors” section of Beyond Air’s most recent Annual Report on Form 10-K and other of its filings with the Securities and Exchange Commission, all of which are available on Beyond Air’s website. Beyond Air and Beyond Cancer undertake no obligation to update, and have no policy of updating or revising, these forward-looking statements, except as required by applicable law.CONTACTS:Investor Relations ContactsEdward BargerHead of Investor [email protected] Davis, Ph.D.LifeSci Advisors, [email protected] ContactKori-Ann TaylorHead of [email protected]

GlobeNewswire

Beyond Air® and Getz Healthcare Enter Strategic Collaboration to Commercialize LungFit PH in Asia-Pacific Region

https://finance.yahoo.com/news/beyond-air-getz-healthcare-enter-113000801.html

35f354f0-8fff-3817-8107-aa0ed9fea3da

XBIO

Xenetic Biosciences (XBIO) came out with a quarterly loss of $0.69 per share versus the Zacks Consensus Estimate of a loss of $1.13. This compares to loss of $1.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 38.94%. A quarter ago, it was expected that this company would post a loss of $1.10 per share when it actually produced a loss of $0.60, delivering a surprise of 45.45%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Xenetic Biosciences , which belongs to the Zacks Medical - Drugs industry, posted revenues of $0.65 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 47.96%. This compares to year-ago revenues of $0.42 million. The company has topped consensus revenue estimates four times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Xenetic Biosciences shares have added about 26.6% since the beginning of the year versus the S&P 500's gain of 16.4%.What's Next for Xenetic Biosciences?While Xenetic Biosciences has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Story continuesAhead of this earnings release, the estimate revisions trend for Xenetic Biosciences: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$1.12 on $0.46 million in revenues for the coming quarter and -$4.61 on $1.8 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the same industry, Akebia Therapeutics (AKBA), is yet to report results for the quarter ended June 2023.This kidney disease treatment developer is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of -113%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Akebia Therapeutics' revenues are expected to be $59.1 million, down 53.4% from the year-ago quarter.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportXenetic Biosciences, Inc. (XBIO) : Free Stock Analysis ReportAkebia Therapeutics, Inc. (AKBA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Xenetic Biosciences (XBIO) Reports Q2 Loss, Tops Revenue Estimates

https://finance.yahoo.com/news/xenetic-biosciences-xbio-reports-q2-132503256.html

034116e0-5a8e-3abf-8658-2a6e1a7c05f8

XBIO

FRAMINGHAM, MA / ACCESSWIRE / September 5, 2023 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) ("Xenetic" or the "Company"), a biopharmaceutical company focused on advancing innovative immune-oncology technologies addressing hard to treat cancers, today announced that Jeffrey Eisenberg, Chief Executive Officer of Xenetic will present at the H.C. Wainwright 25th Annual Global Investment Conference being held September 11-13, 2023 in New York, NY and virtually.In addition to the presentation, management will be available to participate in in-person and virtual one-on-one meetings with qualified members of the investor community who are registered to attend the conference. For more information about the conference, please visit the conference website.A video webcast of the presentation will be accessible for viewing on-demand beginning on Monday, September 11 at 7:00 AM ET for those registered for the event and will be available on the IR Calendar page in the Investors section of the Company's website (www.xeneticbio.com). The webcast replay will be archived for 90 days following the event.About Xenetic BiosciencesXenetic Biosciences, Inc. is a biopharmaceutical company focused on advancing innovative immune-oncology technologies addressing hard to treat cancers. The Company's DNase platform is designed to improve outcomes of existing treatments, including immunotherapies, by targeting neutrophil extracellular traps (NETs), which have been implicated in cancer progression and resistance to cancer treatments. Xenetic is currently focused on advancing its systemic DNase program into the clinic as an adjunctive therapy for pancreatic carcinoma and locally advanced or metastatic solid tumors.For more information, please visit the Company's website at www.xeneticbio.com and connect on Twitter, LinkedIn, and Facebook.Contact:JTC Team, LLCJenene Thomas(833) [email protected]: Xenetic Biosciences, Inc.View source version on accesswire.com: https://www.accesswire.com/780096/xenetic-biosciences-inc-to-present-at-the-hc-wainwright-25th-annual-global-investment-conference

ACCESSWIRE

Xenetic Biosciences, Inc. to Present at the H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/xenetic-biosciences-inc-present-h-120500932.html

55d68730-f084-31e8-aa8d-c7f71a319f17

XCUR

CHICAGO, August 23, 2023--(BUSINESS WIRE)--Exicure, Inc. (Nasdaq: XCUR), historically an early-stage biotechnology company focused on developing nucleic acid therapies targeting ribonucleic acid against validated targets, today announced that, effective as of August 21, 2023, Paul Kang, a Class III director, was appointed as Chief Executive Officer of the Company and Jiyoung Hwang, a Class I director, was appointed as Chief Financial Officer of the Company. Mr. Kang and Ms. Hwang succeed Mr. Jung-Sang (Michael) Kim, who stepped down as Chief Executive Officer and Chief Financial Officer last Friday.Additionally, effective as of August 21, 2023, the Board also approved the appointment of Hyuk Joon (Raymond) Ko as a Class III director, Dongho Lee as a Class I director, and Hojoon Lee as a Class II director of the Board. The new directors will be replacing the vacancies created by the resignations of Mr. Kim and Mr. Changil Ahn last Friday."We are glad that management, the Board and our controlling stockholders are now fully aligned in our strategic vision for the future of the Company, and we will be focusing on real steps to maximize value for all stockholders of the Company in the coming months," said Mr. Kang of the renewed management and Board.Additional information about today’s announcement, including biographical information about Mr. Kang and Ms. Hwang, will be filed on a Form 8-K with the U.S. Securities and Exchange Commission.About ExicureExicure, Inc. has historically been an early-stage biotechnology company focused on developing nucleic acid therapies targeting ribonucleic acid against validated targets. Following its recent restructuring and suspension of clinical and development activities, the Company is exploring strategic alternatives to maximize stockholder value, both with respect to its historical biotechnology assets and more broadly. For further information, see www.exicuretx.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical fact may be deemed forward looking including, but not limited to, statements regarding: the Company’s current business plans and objectives, including the pursuit of strategic alternatives to maximize stockholder value. Words such as "plans," "expects," "will," "anticipates," "continue," "advance," "believes," "target," "may," "intend," "could," and other words and terms of similar meaning and expression are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. Forward-looking statements are based on management’s current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. For a discussion of other risks and uncertainties, and other important factors, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statements, see the section titled "Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on March 27, 2023, as updated by the Company’s subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information or to publicly announce the results of any revisions to any of such statements to reflect future events or developments, except as required by law.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230823557776/en/ContactsMedia: Lavinia JurkiewiczExicure, [email protected]

Business Wire

Exicure, Inc. Announces Appointment of New CEO and CFO and Changes to Board of Directors

https://finance.yahoo.com/news/exicure-inc-announces-appointment-ceo-134800127.html

7bd6547e-3238-3f75-9264-6064b08e86e0

XCUR

Exicure, Inc. (NASDAQ:XCUR) shares have had a horrible month, losing 25% after a relatively good period beforehand. The recent drop completes a disastrous twelve months for shareholders, who are sitting on a 55% loss during that time.After such a large drop in price, Exicure may be sending very bullish signals at the moment with its price-to-sales (or "P/S") ratio of 0.3x, since almost half of all companies in the Biotechs industry in the United States have P/S ratios greater than 11.8x and even P/S higher than 53x are not unusual. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly reduced P/S. Check out our latest analysis for Exicure ps-multiple-vs-industryWhat Does Exicure's Recent Performance Look Like?With revenue growth that's exceedingly strong of late, Exicure has been doing very well. One possibility is that the P/S ratio is low because investors think this strong revenue growth might actually underperform the broader industry in the near future. If that doesn't eventuate, then existing shareholders have reason to be quite optimistic about the future direction of the share price.Although there are no analyst estimates available for Exicure, take a look at this free data-rich visualisation to see how the company stacks up on earnings, revenue and cash flow.Is There Any Revenue Growth Forecasted For Exicure?In order to justify its P/S ratio, Exicure would need to produce anemic growth that's substantially trailing the industry.Retrospectively, the last year delivered an explosive gain to the company's top line. Pleasingly, revenue has also lifted 60% in aggregate from three years ago, thanks to the last 12 months of explosive growth. Accordingly, shareholders would have definitely welcomed those medium-term rates of revenue growth.Comparing that to the industry, which is predicted to deliver 118% growth in the next 12 months, the company's momentum is weaker, based on recent medium-term annualised revenue results.Story continuesWith this in consideration, it's easy to understand why Exicure's P/S falls short of the mark set by its industry peers. It seems most investors are expecting to see the recent limited growth rates continue into the future and are only willing to pay a reduced amount for the stock.What We Can Learn From Exicure's P/S?Exicure's P/S looks about as weak as its stock price lately. Generally, our preference is to limit the use of the price-to-sales ratio to establishing what the market thinks about the overall health of a company.In line with expectations, Exicure maintains its low P/S on the weakness of its recent three-year growth being lower than the wider industry forecast. Right now shareholders are accepting the low P/S as they concede future revenue probably won't provide any pleasant surprises. If recent medium-term revenue trends continue, it's hard to see the share price experience a reversal of fortunes anytime soon.We don't want to rain on the parade too much, but we did also find 3 warning signs for Exicure (2 shouldn't be ignored!) that you need to be mindful of.If these risks are making you reconsider your opinion on Exicure, explore our interactive list of high quality stocks to get an idea of what else is out there.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.

Lacklustre Performance Is Driving Exicure, Inc.'s (NASDAQ:XCUR) 25% Price Drop

https://finance.yahoo.com/news/lacklustre-performance-driving-exicure-inc-100205794.html

fd9d6205-bb6b-32ab-b652-4e9628a87b8e

XEL

Xcel Energy Inc.’s XEL strategic investments in infrastructure projects and focus on renewable expansion will further boost its earnings performance. The company’s expanding customer base and rising demand act as tailwinds.However, this Zacks Rank #3 (Hold) company has to face risks related to failure of transmission and distribution lines.TailwindsXcel Energy aims to spend $29.5 billion during the 2023-2027 period, excluding $2-$4 billion of potential incremental investment opportunities planned in the same time frame. These investments are aimed to strengthen and expand its transmission, distribution, electric generation and renewable projects.High quality and reliable services provided by the company attract new customers and allow Xcel Energy to serve an expanding electric and natural gas customer base. In second-quarter 2023, the electric and natural gas’ customer base increased 1.1% each. In the same time frame, sales volumes for the electric segment improved 0.6% and natural gas volumes increased 0.1% year over year.Xcel Energy is focusing on clean-energy transition. After completing six wind projects with 1,500 MW capacities in 2020, the company completed four wind farms, adding another 800 MW of clean energy generation capacity to its portfolio. XEL got key regulatory approval for the Minnesota resource plan, which includes the closing of coal plants like the A.S. King Plant and Sherco 3 by 2028 and 2030, respectively.HeadwindsXcel Energy’s natural gas and electric transmission and distribution operations are exposed to several risks, including explosions, leaks and mechanical setbacks. These incidents can affect the company’s operations, thereby impacting its financial performance.XEL has plans to borrow additional funds to meet its capital expenditure target. It is likely to add an additional debt of $8.2 billion in the 2023-2027 period to meet its expenses. Additional debts will increase its interest expenses and dent margins.Story continuesStocks to ConsiderSome better-ranked stocks from the same industry are FirstEnergy Corporation FE, Pinnacle West Capital Corporation PNW and Entergy Corp. ETR, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.FirstEnergy’s long-term (three to five year) earnings growth rate is 6.45%. The Zacks Consensus Estimate for FE’s 2023 earnings per share indicates an increase of 5% from the previous year’s level.PNW’s long-term earnings growth rate is 6.46%. The Zacks Consensus Estimate for PNW’s 2023 sales indicates an increase of 4.6% from the 2022 level.Entergy’s long-term earnings growth rate is 5.65%. It delivered an average earnings surprise of 3.4% in the previous four quarters.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 reportXcel Energy Inc. (XEL) : Free Stock Analysis ReportEntergy Corporation (ETR) : Free Stock Analysis ReportFirstEnergy Corporation (FE) : Free Stock Analysis ReportPinnacle West Capital Corporation (PNW) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Xcel Energy (XEL) Rides on Investment, Clean Power Generation

https://finance.yahoo.com/news/xcel-energy-xel-rides-investment-122100422.html

64476f02-0aa3-35dd-848f-36ddf01bf53a

XEL

In this article, we will be taking a look at Goldman Sachs solar and green energy stocks: top 10 stock picks. To skip our detailed analysis of the green energy market and Goldman Sachs' second quarter holdings, you can go directly to see the Goldman Sachs Solar and Green Energy Stocks: Top 5 Stock Picks.The Global Climate Change EnvironmentRenewable energy and the sources from which it is borne, such as wind and solar, have become hot topics not only among your everyday consumers but also among businesses, investors, and financial professionals. As global warming continues to ramp up with each passing moment, the global community is becoming increasingly fixated on ways to curb the impact of rapid climate change in an attempt to preserve the planet and its resources for future generations. As a result of this sense of urgency, renewable energy and the companies working to make such energy available have both steadily begun to gain popularity among consumers, governments, and businesses alike.According to the United States Office of Energy Efficiency and Renewable Energy, renewable energy was generating about 20% of all US electricity in 2022. Of this 20%, 9.2% comes from wind, 6.3% from hydropower, 2.8% from solar, 1.3% from biomass, and 0.4% from geothermal resources. In 2022 alone, solar and wind energy resources were expected to add over 60% of the utility-scale generating capacity to the US power grid, representing a split of 46% from solar and 17% from wind. This widespread use of renewable energy in the country has many reasons. One notable reason is the continued effort on the part of the government to promote renewable energy-related programs and projects. According to the United States Environmental Protection Agency, there are several programs in place right now for the purpose of promoting the use of sustainable energy. These include the Combined Heat and Power Partnership, Energy Star, and WaterSense. The Combined Heat and Power Partnership program aims to reduce the environmental impact of power generation by promoting the use of combined heat and power. At the same time, Energy Star is working to provide an energy management strategy that can help measure current energy performance, set goals, track energy savings, and reward improvements. Finally, the WaterSense program is working to protect the American water supply by offering simpler ways to use less water with water-efficient products.Story continues"This Country Should Be Ahead Of Where It Is"These are merely a few examples of the immense effort that is going into promoting renewable energy in the US today. Such efforts are also aiding companies like Enphase Energy, Inc. (NASDAQ:ENPH), SolarEdge Technologies, Inc. (NASDAQ:SEDG), and NextEra Energy, Inc. (NYSE:NEE) in their renewable energy projects today. Despite this, major investors such as billionaire Warren Buffett still believe that the country is falling behind its environmental obligations. Here's what Buffett had to say on his company's contributions to the renewable energy space at the 2023 Berkshire Hathaway annual shareholders meeting:"We've probably spent more money than any other utility I'd guess in the United States. And we've just scratched the surface. But it is not easy when you cross state lines, I mean you have different jurisdictions. This country should be ahead of where it is in terms of transmission. We have been the biggest factor in helping that."Buffett's comments make it clear that there is an expectation of major companies in the US to make large contributions to the continuing progress of the renewable energy transformation. Many companies have been following suit with environmental programs and projects to make these very contributions for the betterment of the environment and the planet as a whole. Considering the amount of money and effort that is thus being piled into this space at the moment, we have compiled a list of some of the top renewable energy and solar stocks to invest in according to Goldman Sachs, an institutional investor. These include some of the best solar and green energy stocks to buy today for those looking to invest in renewable energy in the face of climate change.Goldman Sachs Solar and Green Energy Stocks: Top 10 Stock PicksPhoto by Jason Blackeye on UnsplashOur MethodologyWe went through Goldman Sachs' 13F holdings for the second quarter to pick 10 solar and green energy stocks the institutional investor was seen to be holding in that quarter. We then ranked these stocks based on Goldman Sachs' stake value in each of them, from the lowest to the highest. We also mentioned hedge fund information for these companies by using Insider Monkey's hedge fund data for the second quarter.Goldman Sachs Solar and Green Energy Stocks: Top Stock Picks10. Dominion Energy Inc. (NYSE:D)Goldman Sachs' Q2 Stake Value: $213.4 millionNumber of Hedge Fund Holders: 25Dominion Energy Inc. (NYSE:D) is a utility company based in Richmond, Virginia. The company produces and distributes energy in the US. It has the Dominion Energy Green Power program for the provision of green energy to its customers, among more.As of August 7, analysts at BMO Capital Markets have an Outperform rating on shares of Dominion Energy Inc. (NYSE:D). The analysts also maintain a price target of $54 on the stock.Dominion Energy Inc. (NYSE:D) had 25 hedge funds long its stock in the second quarter, with a total stake value of $431.7 million.Holding 3.8 million shares in the company, Diamond Hill Capital was the largest shareholder in Dominion Energy Inc. (NYSE:D) at the end of the second quarter.This is what Carillon Tower Advisers said about Dominion Energy Inc. (NYSE:D) in its fourth-quarter 2022 investor letter:“Dominion Energy, Inc. (NYSE:D) traded lower following the surprise announcement of the company’s strategic review. The company is likely to sell several business units, which will impact future earnings. As a result of earnings uncertainty, we decided to sell the stock.”Like Enphase Energy, Inc. (NASDAQ:ENPH), SolarEdge Technologies, Inc. (NASDAQ:SEDG), and NextEra Energy, Inc. (NYSE:NEE), Dominion Energy Inc. (NYSE:D) is a top renewable energy stock hedge funds are eyeing today.9. Sempra (NYSE:SRE)Goldman Sachs' Q2 Stake Value: $217 millionNumber of Hedge Fund Holders: 30Analysts at Barclays initiated coverage on shares of Sempra (NYSE:SRE) with an Overweight rating on August 23.Sempra (NYSE:SRE) is another utility company on our list. It is based in San Diego, California. The company operates through its San Diego Gas & Electric Company, Southern California Gas Company, Sempra Texas Utilities, and Sempra Infrastructure segments. It provides electricity generated through wind, solar, and other resources.In the second quarter, 30 hedge funds were long Sempra (NYSE:SRE). Their total stake value in the company was $594.7 million.Citadel Investment Group was the largest shareholder in Sempra (NYSE:SRE) at the end of the second quarter, holding 1.5 million shares in the company.8. Xcel Energy Inc. (NYSE:XEL)Goldman Sachs' Q2 Stake Value: $291.5 millionNumber of Hedge Fund Holders: 27Xcel Energy Inc. (NYSE:XEL) was spotted in the 13F holdings of 27 hedge funds in the second quarter, with a total stake value of $394.7 million.Xcel Energy Inc. (NYSE:XEL) is an electric utility company based in Minneapolis, Minnesota. The company generates, purchases, transmits, distributes, and sells electricity. It operates through its Regulated Electric Utility, Regulated Natural Gas Utility, and Other segments. The company generates electricity through solar, hydroelectric, biomass, oil, and wind energy resources, among more.Analysts at Barclays initiated coverage on Xcel Energy Inc. (NYSE:XEL) shares on August 24. The analysts also placed a price target of $60 on the stock.7. Enbridge Inc. (NYSE:ENB)Goldman Sachs' Q2 Stake Value: $301.4 millionNumber of Hedge Fund Holders: 28GQG Partners was the most prominent shareholder in Enbridge Inc. (NYSE:ENB) at the end of the second quarter, holding 6.4 million shares in the company.Enbridge Inc. (NYSE:ENB) is an energy company that operates through its Liquid Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Resources segments. The company is based in Calgary, Canada. It operates several power-generating assets, including wind, solar, geothermal, waste heat recovery, and transmission assets in North America.A Buy rating was maintained on shares of Enbridge Inc. (NYSE:ENB) on August 8 by analysts at TD Cowen. The analysts also placed a price target of $58 on the stock.Our hedge fund data for the second quarter shows 28 hedge funds holding stakes in Enbridge Inc. (NYSE:ENB). Their total stake value in the company was $449.7 million.6. Suncor Energy Inc. (NYSE:SU)Goldman Sachs' Q2 Stake Value: $480.9 millionNumber of Hedge Fund Holders: 33Shares of Suncor Energy Inc. (NYSE:SU) were upgraded from Equal Weight to Overweight on August 23 by analysts at Wells Fargo & Company. The analysts also raised their price target on the stock from $44 to $54.Suncor Energy Inc. (NYSE:SU) was seen in the portfolios of 33 hedge funds during the second quarter, with a total stake value of $889.5 million.Suncor Energy Inc. (NYSE:SU) is an energy company based in Calgary, Canada. It operates through its Oil Sands, Exploration and Production, and Refining and Marketing segments. The company has been producing renewable fuel since the early 2000s at its ethanol plant in St. Clair, Ontario.Here's what Artisan Partners said about Suncor Energy Inc. (NYSE:SU) in its fourth-quarter 2022 investor letter:“Suncor Energy Inc. (NYSE:SU), a Canada-based operator of oil sands mines, refineries and retail gas stations, was the third-largest contributor to return for the year, mainly due to higher oil prices. The share price increased by one third. Notably, the portfolio generated significant returns from energy stocks, including Suncor, Tenaris, Imperial Oil and tangentially Alimentation Couche-Tarde and Seven & i Holdings, both of which are in the gas station business. Given the cyclicality and commodity nature of the oil business, we have sold shares of these investments, including the complete sale of both Tenaris and Imperial Oil.”Like Enphase Energy, Inc. (NASDAQ:ENPH), SolarEdge Technologies, Inc. (NASDAQ:SEDG), and NextEra Energy, Inc. (NYSE:NEE), Suncor Energy Inc. (NYSE:SU) is a renewable energy stock that Goldman Sachs is piling into this year. Click to continue reading and see Goldman Sachs Solar and Green Energy Stocks: Top 5 Stock Picks. Suggested articles:12 Best Solar Energy and Battery Stocks To Buy Now10 Solar Stocks Billionaires Are Loading Up OnGoldman Sachs Bank Stocks: Top 10 Stock PicksDisclosure: None. Goldman Sachs Solar and Green Energy Stocks: Top 10 Stock Picks is originally published on Insider Monkey.

Insider Monkey

Goldman Sachs Solar and Green Energy Stocks: Top 10 Stock Picks

https://finance.yahoo.com/news/goldman-sachs-solar-green-energy-114617380.html

50bc8d0c-3b71-3595-ab9c-6ee0e629a180

XLO

Xilio Therapeutics, Inc.WALTHAM, Mass., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Xilio Therapeutics, Inc. (Nasdaq: XLO), a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology therapies for people living with cancer, today announced that René Russo, Pharm.D., chief executive officer, will participate in a fireside chat at the Morgan Stanley 21st Annual Global Healthcare Conference on Monday, September 11, 2023, at 2:55 pm EST.A live webcast can be accessed under “Events & Presentations” in the Investors & Media section of the Xilio Therapeutics website at https://ir.xiliotx.com/. A replay of the webcast will be archived on the website for 30 days following the presentation.About Xilio TherapeuticsXilio Therapeutics is a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology (I-O) therapies with the goal of significantly improving outcomes for people living with cancer without the systemic side effects of current I-O treatments. The company is using its proprietary geographically precise solutions (GPS) platform to build a pipeline of novel, tumor-activated molecules, including antibodies, cytokines and other biologics, which are designed to optimize their therapeutic index and localize anti-tumor activity within the tumor microenvironment. Xilio is currently advancing multiple programs for tumor-activated I-O treatments in clinical development, as well as programs in preclinical development. Learn more by visiting www.xiliotx.com and follow us on LinkedIn (Xilio Therapeutics, Inc.).This press release contains hyperlinks to information that is not deemed to be incorporated by reference in this press release.For Investor and Media Inquiries: Julissa VianaVice President, Head of Investor Relations and Corporate [email protected] ForstArgot [email protected]

GlobeNewswire

Xilio Therapeutics to Present at Morgan Stanley 21st Annual Global Healthcare Conference

https://finance.yahoo.com/news/xilio-therapeutics-present-morgan-stanley-113000871.html

f7c1d068-243b-3b0b-8e86-1aeb0b81e332

XLO

Xilio Therapeutics, Inc.Martin Huber, M.D., to leave Xilio Therapeutics and remain an advisorWALTHAM, Mass., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Xilio Therapeutics, Inc. (Nasdaq: XLO), a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology therapies for people living with cancer, today announced the promotion of Katarina Luptakova, M.D., to the role of chief medical officer and Scott Coleman, Ph.D., to the role of chief development officer, each effective as of September 5, 2023. Dr. Luptakova will succeed Martin Huber, M.D., who has served as the company’s chief medical officer since 2020 and as president and head of research and development since 2022. Dr. Huber will leave the company this month to pursue a chief executive officer opportunity and will remain an advisor to Xilio.“The promotion of Katarina to chief medical officer and Scott to chief development officer are part of a thoughtful succession planning process jointly undertaken with the board and highlight the depth of Xilio’s internal talent,” said René Russo, Pharm.D., chief executive officer of Xilio. “Katarina has an extensive, proven track record in clinical oncology drug development, and her strong relationships with clinical investigators and oncology thought leaders have been critical to our clinical development efforts to date. Having worked closely with Scott across multiple companies over the years, I know how invaluable his drug development instincts, strategic thinking and scientific leadership are in building successful companies across all stages of development and a broad range of therapeutic areas. On behalf of Xilio and the board of directors, I want to thank Marty for his partnership in helping to develop our internal talent and rapidly translating our novel, tumor-selective platform into multiple clinical programs with promising early clinical data.”Dr. Luptakova, a hematologist and oncologist, has 20 years of experience in clinical practice and oncology drug development and most recently served as Xilio’s senior vice president, medical since October 2022. Prior to joining Xilio as vice president, clinical research in December 2021, Dr. Luptakova served as vice president, clinical development at Constellation Pharmaceuticals, Inc. Prior to that, Dr. Luptakova served as senior medical director and clinical lead at Tesaro, Inc., where she contributed to the successful development and commercialization of multiple cancer therapies, including Zejula® (niraparib) and Blenrep® (belantamab mafodotin-blmf). Earlier in her career, Dr. Luptakova held roles of increasing responsibility at Takeda Oncology and was an attending physician in the bone marrow transplant and malignant hematology division at Beth Israel Deaconess Medical Center.Story continuesDr. Coleman most recently served as Xilio’s senior vice president, nonclinical development and has over 25 years of experience in biotechnology and drug development, including contributing to the successful development and approval of multiple therapies across a broad range of therapeutic areas, including oncology. Prior to joining Xilio in June 2022, Dr. Coleman served as vice president, nonclinical development at Acceleron Pharma Inc., where he contributed to the development of sotatercept. Previously, Dr. Coleman served in senior scientific roles at Spero Therapeutics, Merck, Cubist Pharmaceuticals and Millennium Pharmaceuticals.“With the recent encouraging early clinical data from our lead programs demonstrating tumor-selective activation in patients, Xilio has shown that it is capable of discovering, designing and advancing novel, tumor-activated I-O product candidates with differentiated clinical profiles,” said Martin Huber, M.D., president and head of research and development of Xilio. “It has been a privilege to help build Xilio to be the exciting, clinical-stage company that it is today with a deep leadership team, and I am grateful to René for her mentorship, encouragement and support in preparing me to pursue a CEO opportunity. Having worked closely with Katarina for many years, I am confident that she is the right person to lead the next stages of clinical development for Xilio’s pipeline and build on the strong research and development capabilities we’ve established, and I look forward to continuing my engagement with the company as an advisor.”“I have been fortunate to work with our trial investigators from the start of clinical development for each of our three ongoing clinical-stage programs, and I am highly encouraged by our early data demonstrating tumor-selective activation of our molecules in patients. I believe Xilio’s platform and team have the ability to develop potentially transformative tumor-activated I-O therapies for people living with cancer, and I am honored to be appointed as Xilio’s chief medical officer,” said Dr. Luptakova.“I look forward to partnering with the Xilio leadership team to build upon our strong scientific foundation and continue our rapid pace of innovation and execution,” said Dr. Coleman. “Xilio’s shared commitment to fostering an inclusive culture, science-focused approach and urgency for patients positions us well to advance the company through its next phase.”About Xilio TherapeuticsXilio Therapeutics is a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology (I-O) therapies with the goal of significantly improving outcomes for people living with cancer without the systemic side effects of current I-O treatments. The company is using its proprietary geographically precise solutions (GPS) platform to build a pipeline of novel, tumor-activated molecules, including antibodies, cytokines and other biologics, which are designed to optimize their therapeutic index and localize anti-tumor activity within the tumor microenvironment. Xilio is currently advancing multiple programs for tumor-activated I-O treatments in clinical development, as well as programs in preclinical development. Learn more by visiting www.xiliotx.com and follow us on LinkedIn (Xilio Therapeutics, Inc.).Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding the ability to develop transformative tumor-activated I-O therapies for people living with cancer; the ability to advance the company through its next phase; the potential benefits of any of Xilio’s current or future product candidates in treating patients; and Xilio’s strategy, goals and anticipated financial performance, milestones, business plans and focus. The words “aim,” “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of important risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks and uncertainties related to ongoing and planned research and development activities, including initiating, conducting or completing preclinical studies and clinical trials and the timing and results of such preclinical studies or clinical trials; the delay of any current or planned preclinical studies or clinical trials or the development of Xilio’s current or future product candidates; Xilio’s ability to obtain and maintain sufficient preclinical and clinical supply of current or future product candidates; Xilio’s advancement of multiple early-stage programs; there can be no assurance that interim or preliminary preclinical or clinical data or results will be predictive of future preclinical or clinical data or results; Xilio’s ability to successfully demonstrate the safety and efficacy of its product candidates and gain approval of its product candidates on a timely basis, if at all; results from preclinical studies or clinical trials for Xilio’s product candidates, which may not support further development of such product candidates; actions of regulatory agencies, which may affect the initiation, timing and progress of current or future clinical trials; Xilio’s ability to obtain, maintain and enforce patent and other intellectual property protection for current or future product candidates; Xilio’s ability to obtain and maintain sufficient cash resources to fund its operations beyond the end of the second quarter of 2024; the impact of international trade policies on Xilio’s business, including U.S. and China trade policies; and Xilio’s ability to maintain its clinical trial collaboration with Roche to develop XTX101 in combination with atezolizumab. These and other risks and uncertainties are described in greater detail in the sections entitled “Risk Factor Summary” and “Risk Factors” in Xilio’s filings with the U.S. Securities and Exchange Commission (SEC), including Xilio’s most recent Quarterly Report on Form 10-Q and any other filings that Xilio has made or may make with the SEC in the future. Any forward-looking statements contained in this press release represent Xilio’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, Xilio explicitly disclaims any obligation to update any forward-looking statements.This press release contains hyperlinks to information that is not deemed to be incorporated by reference in this press release.For Investor and Media Inquiries: Julissa VianaVice President, Head of Investor Relations and Corporate [email protected] ForstArgot [email protected]

GlobeNewswire

Xilio Therapeutics Announces Promotion of Katarina Luptakova, M.D., to Chief Medical Officer and Scott Coleman, Ph.D., to Chief Development Officer

https://finance.yahoo.com/news/xilio-therapeutics-announces-promotion-katarina-123000948.html

398162aa-6954-34b8-80a9-87b3cf22919c

XMTR

Xometry, Inc.Provides Engineering, Supply Chain and Procurement Colleagues With Visibility Into Existing ProjectsStreamlines Order Management And Drives Data-Based Decision-MakingAccelerates Scaling Of Xometry Marketplace For Assemblies And Large Production RunsNORTH BETHESDA, Md., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ:XMTR), the global AI-powered marketplace connecting enterprise buyers with suppliers of manufacturing services, today unveiled a new cloud-based collaboration tool that lets employees at the same company manage projects within Xometry’s AI-powered platform.The new dashboard provides engineering, procurement and supply chain colleagues with visibility into existing projects. An important addition to Xometry’s online marketplace, the dashboard helps streamline order management, increase efficiency and drive data-based decision-making.“Our new dashboard further accelerates Xometry’s continued adoption into the enterprise and supports a growing number of clients who rely on us to strengthen their supply chains and provide additional capacity for large-volume production runs,” said Randy Altschuler, Xometry CEO. “With it, our customers can manage the production of individual parts to entire supply chain projects, empowered by data and insights that help them drive real-time decision-making.”The dashboard was announced on the company’s second quarter 2023 earnings call on Wednesday, Aug. 9 and is in beta with large companies. It will be widely available later this year. Its introduction also comes on the heels of other recent innovations, including the continued expansion of Xometry’s AI-powered marketplace.Xometry’s two-sided marketplace is playing a vital role in the rapid digital transformation of the manufacturing industry, connecting enterprise buyers with manufacturers who build the big ideas that fuel the global economy. Xometry’s proprietary technology shortens development cycles, drives efficiencies within corporate environments and helps stabilize supply chains to make them more resilient. Xometry’s product portfolio includes its industry leading digital marketplace, popular Thomasnet.com industrial sourcing platform and cloud-based tools, including Workcenter, a manufacturing execution system that helps small and medium manufacturers digitize every aspect of their shop.Story continuesAbout XometryXometry’s (NASDAQ:XMTR) AI-powered marketplace, popular Thomasnet industrial sourcing platform and suite of cloud-based services are rapidly digitizing the $2.4 trillion manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to access global manufacturing capacity and create locally resilient supply chains. The Xometry Instant Quoting Engine® leverages millions of pieces of data to quickly and effectively analyze complex parts in real-time, match buyers with the right suppliers globally and provide accurate pricing and lead times. Through its extensible marketplace, Xometry continuously scales its offerings, delivering an ever-expanding menu of manufacturing capabilities. Learn more at www.xometry.com or follow @xometry.Contacts: Matthew HutchisonVP, Corporate [email protected] PR for [email protected] MilneVP, Investor [email protected]

GlobeNewswire

Xometry Adds New Dashboard Collaboration Tool To Its AI-Powered Marketplace

https://finance.yahoo.com/news/xometry-adds-dashboard-collaboration-tool-120500518.html

a76678bb-9571-3b57-81a4-a0e41d24c266

XMTR

Xometry, Inc.NORTH BETHESDA, Md., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ:XMTR), the global AI-powered marketplace connecting enterprise buyers with suppliers of manufacturing services, today announced that management will attend the following investor events:Goldman Sachs Communacopia + Technology Conference Sept. 5, in San Francisco at 2:25 p.m. P.T.Citi’s 2023 Global Technology and GEMS Conference, Sept. 7, in New York at 11:15 a.m. E.T.CL King’s 21st Annual Best Ideas Conference 2023, Sept. 18, (virtual event with no webcast)Webcasts and replays of the fireside chats will be accessible within the Investor Relations section of Xometry’s website following each session.About Xometry Xometry’s (NASDAQ:XMTR) AI-powered marketplace, popular Thomasnet industrial sourcing platform and suite of cloud-based services are rapidly digitizing the $2.4 trillion manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to access global manufacturing capacity and create locally resilient supply chains. The Xometry Instant Quoting Engine® leverages millions of pieces of data to quickly and effectively analyze complex parts in real-time, match buyers with the right suppliers globally and provide accurate pricing and lead times. Through its extensible marketplace, Xometry continuously scales its offerings, delivering an ever-expanding menu of manufacturing capabilities. Learn more at www.xometry.com or follow @xometry.Investor Contact: Shawn Milne VP, Investor Relations 240-335-8132 [email protected] Contact: Matthew Hutchison VP, Global Corporate Communications [email protected]

GlobeNewswire

Xometry to Participate in Upcoming Investor Conferences

https://finance.yahoo.com/news/xometry-participate-upcoming-investor-conferences-121700516.html

f08ba995-5441-3ef1-a691-9056a822de7d

XOM

In a mere four years, Guyana went from first discovery to first oil, a rapid timeframe in an industry where it can take years to bring major energy projects online. The former British colony is now a major South American oil producer and global petroleum exporter. As a result, Guyana is benefiting from a tremendous economic windfall, with the country emerging as the world’s fastest-growing economy with 2022 gross domestic product (GDP) expanding by a stunning 62%. Industry consultancies and the government in Georgetown expect Guyana to be pumping 1.2 million barrels of crude oil per day by 2027, a figure greater than many OPEC members. Exxon’s commitment to developing the offshore 6.6-million-acre Stabroek Block indicates oil output could soar even higher. This has the potential to alter global energy market dynamics and challenge the price-making power of the OPEC Plus consortium.Data from Guyana’s Ministry of Natural Resources shows the country of less than one million was lifting 351,600 barrels of oil per day at the end of July 2023. That production volume pumped by the Liza Destiny and Unity floating production storage and offloading vessels (FPSOs) is greater than their combined nameplate capacity of 340,000 barrels per day. Exxon, which holds a 45% stake in the Stabroek Block and is the operator, prioritized development of the block in late-2020 due to the Liza oilfield’s low breakeven price of $25 per barrel to $35 per barrel and high-quality light sweet crude oil. That saw the global energy supermajor ramp up activity with a large exploration drilling campaign that eventually yielded over 30 discoveries and more than 11 billion barrels of oil resources in the Stabroek Block.Since the first oil discovery in the Stabroek Block was made in 2015, the Exxon-led consortium comprised of Hess, with a 30% interest, and CNOOC, holding a 25% stake, have approved six projects with the initial Liza phase-1 and 2 developments complete. There are four more operations being developed, which, on start-up, will significantly lift oil production to at least 1.2 million barrels per day, and perhaps more. These include the 220,000 barrel per day Payara operation, with the first oil slated for late 2023 and the 250,000 barrels per day Yellowtail project, which will commence operations in 2025. Earlier this year, the consortium approved the $12.7 billion 250,000 barrel-per-day Uaru project, which is expected to start production during 2026. In the latest news, Exxon and its partners in the prolific Stabroek Block announced they will proceed with the sixth development, the nearly $13 billion Whiptail project. This facility will consist of 72 wells with a nameplate production capacity of 250,000 barrels per day and commence operations in late 2027.Story continuesOnce all of those assets are operational, Exxon will have the capacity to lift just over 1.3 million barrels per day from the Stabroek Block. Each of those operations, like the functioning Liza Phase-1 and Phase-2 FPSOs, possesses the potential to pump more petroleum than the designated capacity. For this reason, oil output from the Stabroek Block could easily surpass the 1.3 million barrels expected. By 2027, Guyana’s petroleum output could very well surpass the forecast of 1.2 million barrels daily, which will see the country exceed the petroleum output of many OPEC members and become the world's 16th largest oil producer.The immense international interest in Guyana is being driven by a high exploration success rate and substantial offshore petroleum potential, which appears to exceed that estimated by the U.S. Geological Survey. The light sweet oil being discovered, with the Liza grade possessing an API gravity of 32 degrees and 0.58% sulfur content, is easier and cheaper for refineries to process into high-quality fuels further adding to offshore Guyana’s popularity. According to Rystad Energy, the carbon intensity of the oil being extracted is among some of the lowest globally. That is an extremely attractive attribute for foreign energy companies at a time when big oil is being pressured to sharply reduce emissions and become carbon neutral. Industry low breakeven prices, estimated by Rystad to average $28 per barrel, make operating in offshore Guyana highly profitable, especially with Brent selling for around $90 a barrel.For those reasons, Guyana’s rising petroleum output will not stop at 1.2 million or 1.3 million barrels per day, nor will discovered oil resources remain at around 11 billion barrels, both will expand at a solid clip. Earlier this year, Guyana’s Environmental Protection Agency greenlighted Exxon’s 35-well drilling campaign for the Stabroek Block, which will lead to further oil discoveries based on the supermajor’s success rate. Other foreign energy companies are investing in exploration assets and drilling activities in offshore Guyana. Georgetown’s pending first-time oil auction, which has been delayed multiple times since December 2022, captured considerable interest. Reportedly, Brazil’s national oil company Petrobras is eyeing investing in Guyana while French supermajor TotalEnergies, which made five commercial discoveries in nearby Block 58 offshore Suriname, has interests in Guyana’s Canje and Kanuku Blocks.Guyana’s growing production and discovered oil resources will boost global supply at a crucial time, which will diminish the influence of the OPEC Plus cartel. In recognition of this and Guyana’s tremendous petroleum potential, OPEC is attempting to woo the former British colony to join its ranks. The cartel has invited representatives from Guyana to participate in its meetings in Europe but has yet to officially invite the country to join the cartel. Regardless, Georgetown appears reticent to join OPEC, especially with membership requiring Guyana to comply with various rules and regulations. Indeed, such a move would place limitations on Guyana’s oil industry by requiring compliance with OPEC Plus production quotas, a key reason regional neighbor Ecuador exited the cartel in 2020.Guyana’s explosive arrival as a serious global oil producer, going from first discovery to first oil in a mere four years, will challenge OPEC’s dominance. When coupled with Brazil’s plans to become the world’s fourth largest producer, South America will reemerge as a major petroleum-producing region with the capability to challenge OPEC Plus’s role as a global price maker. These are all significant developments for the world’s largest oil consumer, the U.S., where Gulf Coast refineries, since 2019 when President Donald Trump ratcheted up sanctions against Venezuelan oil have been seeking alternate sources of supply. It will also blunt the Kingdom of Saudi Arabia’s at times antagonistic attitude toward the U.S., which is responsible for higher oil prices.By Matthew Smith for Oilprice.comMore Top Reads From Oilprice.com:U.S. Consumer Oil Demand Has Exceeded ExpectationsSaudi Arabia Reaps The Benefits Of Steepening BackwardationThe Tipping Point In Global Oil DemandRead this article on OilPrice.com

Oilprice.com

Guyana's Oil Boom Challenges OPEC+ Dominance

https://finance.yahoo.com/news/guyanas-oil-boom-challenges-opec-220000261.html

63938dc9-1725-3b3e-81af-fcd2a5c5d14f

XOM

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

XOS

Xos, Inc.Xos Hub Now Eligible for CARB's CORE Incentive, saving customers $160KXos Hub™ is now eligible for COREThe Xos Hub™ is now eligible for $160,000 in savings through the CARB CORE program.LOS ANGELES, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), is proud to announce that the Xos Hub™ mobile charging unit is now eligible for the California Clean Air Resources Board's (CARB) Clean Off-Road Equipment Voucher Incentive Project (CORE). Xos customers are eligible to receive $160,000 in savings on their purchase of the Xos Hub as a result.The CORE program provides point-of-sale discounts to off-set eligible zero-emission technologies. The CORE project applies to California-based purchases and leases of zero-emission off-road equipment. In addition, the incentive includes no scrappage requirement. Additional funding is available for certain charging and fueling infrastructure, equipment deployed in disadvantaged communities, and purchases of equipment by small businesses."We are thrilled to be part of the CORE Voucher Incentive Project and offer our customers this incentive," said Xos Energy Solutions Director, Danny Marquez. "We are committed to providing Xos customers with the best possible solutions to charge their fleets. The CORE incentive is a great way to help them save money and get charging quickly."The Xos Hub is a rapidly deployable, mobile charging solution that enables flexible and scalable access to DC fast charging without the need for permanent infrastructure. It is designed to be easy to install and use and is compatible with commercial and passenger vehicle applications and is capable of charging up to five electric vehicles (EVs) at once. The Xos Hub—in combination with the CORE incentive—is the perfect solution for those looking to expedite their infrastructure projects and save on costs.About Xos, Inc.Xos is a leading technology company, fleet services provider, and original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes of up to 270 miles or less per day. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, visit www.xostrucks.com.Story continuesXos ContactsXos Investor [email protected] Media [email protected] Statement Regarding Forward-Looking StatementsThis press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding expectations and timing related to manufacturing quality, production yields, product deployments and launches; sufficiency of existing cash reserves; customer acquisition and order metrics. These forward-looking statements may be identified by the words “believe,” “plan,” “project,” “potential,” “seem,” “seek,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “target,” “opportunity,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Xos’ ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, (ii) Xos’ limited operating history, (iii) cost increases and delays in production due to supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (iv) Xos’ ability to meet production milestones and fulfill backlog orders, (v) changes in the industries in which Xos operates, (vi) variations in operating performance across competitors, (vii) changes in laws and regulations affecting Xos’ business, (viii) Xos’ ability to implement its business plan or meet or exceed its financial projections, (ix) Xos’ ability to retain key personnel and hire additional personnel, particularly in light of current and potential labor shortages, (x) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry, (xi) Xos’ ability to service its indebtedness, (xii) macroeconomic and political conditions, and (xiii) the outcome of any legal proceedings that may be instituted against Xos. All forward-looking statements included in this press release are expressly qualified in their entirety by, and you should carefully consider, the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” included in Xos’ Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2023 and Xos’ other filings with the SEC copies of which may be obtained by visiting Xos’ Investors Relations website at https://investors.xostrucks.com/ or the SEC's website at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Xos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Xos does not give any assurance that it will achieve its expectations.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ef159b2-722d-4edf-830b-6377e9f877ed

GlobeNewswire

Xos Hub Now Eligible for $160,000 CARB CORE Incentive

https://finance.yahoo.com/news/xos-hub-now-eligible-160-130700847.html

2410f5a2-caf1-32b3-a4c8-5a8bec9593a9

XOS

Xos, Inc.Xos Revolutionizes Commercial Vehicle Updates with Over-the-Air CapabilitiesXos Stepvan Over-The-Air GraphicInfographic depicting over-the-air updates being transferred to a 2023 Xos SVLOS ANGELES, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), is proud to announce the successful completion of its first launch of over-the-air updates to its 2023 Xos SV Stepvans. This marks a major milestone in the commercial electric vehicle industry, as full-vehicle over-the-air updates have traditionally been limited to consumer electric vehicles.The 2023 Xos SV Stepvan is the latest in a line of electric commercial vehicles from Xos. It includes a range of improvements over previous models, including the capability for over-the-air updates. This allows Xos to make a variety of updates to the vehicle, including new vehicle features, powertrain tuning, and charging enhancements.The same telematics control units that enable over-the-air updates also allow for over-the-air diagnostics. This allows Xos to quickly and more efficiently address charging or operation issues.Among the vehicles that have received the first over-the-air updates is a stepvan in service with a major parcel and delivery operator. These updates include charging enhancements to stabilize the vehicle's charging compatibility with the third party chargers already onsite at the customer's terminal."We are thrilled to be among the first to offer full vehicle over-the-air updates to our electric commercial stepvans," said Saleh Heydari, Vice President of Software Engineering at Xos. "This is a major milestone for the industry, and we are proud to be leading the way in providing our customers with the most advanced and reliable electric vehicles on the market."About Xos, Inc.Xos is a leading technology company, fleet services provider, and original equipment manufacturer of Class 5 through Class 8 battery-electric vehicles. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes of up to 270 miles or less per day. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, visit www.xostrucks.com.Story continuesXos ContactsXos Investor [email protected] Media [email protected] Statement Regarding Forward-Looking StatementsThis press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding expectations and timing related to manufacturing quality, production yields, product deployments and launches; sufficiency of existing cash reserves; customer acquisition and order metrics. These forward-looking statements may be identified by the words “believe,” “plan,” “project,” “potential,” “seem,” “seek,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “target,” “opportunity,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Xos’ ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, (ii) Xos’ limited operating history, (iii) cost increases and delays in production due to supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system, (iv) Xos’ ability to meet production milestones and fulfill backlog orders, (v) changes in the industries in which Xos operates, (vi) variations in operating performance across competitors, (vii) changes in laws and regulations affecting Xos’ business, (viii) Xos’ ability to implement its business plan or meet or exceed its financial projections, (ix) Xos’ ability to retain key personnel and hire additional personnel, particularly in light of current and potential labor shortages, (x) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry, (xi) Xos’ ability to service its indebtedness, (xii) macroeconomic and political conditions, and (xiii) the outcome of any legal proceedings that may be instituted against Xos. All forward-looking statements included in this press release are expressly qualified in their entirety by, and you should carefully consider, the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” included in Xos’ Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2023 and Xos’ other filings with the SEC copies of which may be obtained by visiting Xos’ Investors Relations website at https://investors.xostrucks.com/ or the SEC's website at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Xos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Xos does not give any assurance that it will achieve its expectations.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2b66e449-5187-4b00-b933-2eca4b24c5eb

GlobeNewswire

Xos Completes First Over-the-Air Updates Across Vehicles

https://finance.yahoo.com/news/xos-completes-first-over-air-130700602.html

0948b3f0-fa0a-3f69-a2d6-365b0343fa80

XPO

XPO has completed roughly half of its planned capacity additions. (Photo: Jim Allen/FreightWaves)Less-than-truckload carrier XPO saw recent volume wins from Yellow’s departure stick in August. Tonnage was up 3.1% year over year (y/y) during the month following a 4.2% increase in July. The increases were the combination of high-single-digit growth in shipments partially offset by mid-single-digit declines in weight per shipment.Most carriers have seen lighter shipment weights throughout the softer demand environment.XPO (NYSE: XPO) has been taking market share within its local accounts, which are often smaller and more impacted by macroeconomic changes than its larger shippers. As the economy softens, the group tends to keep shipment counts level but fewer pallets get shipped in each load. However, on a two-year stacked comparison, XPO’s tonnage appeared to increase from July to August.XPO’s tonnage was down nearly 3% y/y in the third quarter last year but improved as the quarter progressed, turning positive by September. The turnaround was tied to market share wins, notably in areas where the company had added or expanded terminals, as well as an increase to its sales force.Table: Company reportsEvery major carrier has seen shipments improve following the shutdown of Yellow Corp.Saia (NASDAQ: SAIA) recently noted a 13% y/y jump in shipments in the first two weeks of August, and ArcBest (NASDAQ: ARCB) said shipments at its core accounts have improved roughly 20% since June (but were up just 3% in total during August).Freight began fleeing Yellow’s network in mid-July when the company said it wouldn’t be able to make required benefits payments. Its union workforce threatened to strike and customers quickly sought other options for capacity.XPO said on its second-quarter call a month ago that shipments per day increased between 3,000 and 4,000 (on a 50,000 per-day run rate) from the beginning to the end of July. It appears the new daily run rate held steady through August.Even with the increase in volumes, the carrier noted an improvement in its damage claims ratio in the first two months of the third quarter when compared to the second quarter.Story continuesXPO does not provide yield metrics in its intraquarter updates. It guided to a 3% y/y increase in yields (excluding fuel) on its second-quarter call.The company continues to add capacity to the network.XPO also announced Tuesday the completion of an expansion project that added 58 new doors to a terminal near Dallas. The project is part of a two-year growth plan that will add 900 new doors on a net basis to its network by the first quarter of next year. It opened six new service centers last year and has expanded capacity at three other terminals so far this year.On the second-quarter call, the company said that excess capacity in the network had been reduced to a midteen percentage, lower than a desired level of roughly 20% prior to Yellow’s exit. At the time, it said it may need to add terminals and equipment to meet the increased need but that any new freight it onboarded would have to be accretive to margins.Most growth-oriented carriers are proactive, adding incremental infrastructure ahead of demand. XPO has completed roughly half of its growth plan.More FreightWaves articles by Todd MaidenAugust transportation prices decline at slowest pace in a yearMFN Partners trying to protect equity investment in YellowArcBest sees 20% increase in shipments at core accountsThe post XPO holds volume gains in August appeared first on FreightWaves.

FreightWaves

XPO holds volume gains in August

https://finance.yahoo.com/news/xpo-holds-volume-gains-august-232425913.html

1079078f-1bdd-3b13-ae89-fab4f37a7b57

XPO

Overhaul says one of the most dangerous routes for transporters in Mexico is the Arco Norte Highway near Mexico City, where a truck driver was recently killed by an organized gang. (Photo: Jim Allen/FreightWaves)Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico averaged 58 cargo thefts a day in the second quarter; APM Terminals invests $140 million to expand a facility at a Mexico seaport; XPO adds capacity at a Texas facility; and Jaguar Transport Holdings will operate a Dallas transload facility.Mexico averages 58 cargo thefts a day in Q2Trucks haulings food and beverage products and building materials topped the list of goods being targeted by freight thieves in Mexico during the second quarter, according to a new report from Overhaul.The Austin, Texas-based supply chain visibility firm recorded 5,178 cargo theft incidents in April, May and June, a 6% year-over-year increase compared to the same period in 2022 and a 2% increase compared to the first quarter.“The central region [of Mexico] remained the region with the highest proportion of cargo theft (62%), while the northwest and western regions experienced an increase of 1% each,” Overhaul said. “Although criminal activity continued to be clustered on workdays, the months of April, May, and June saw a growth in thefts conducted during the night, from 6 p.m. to midnight.”The monthly average for cargo thefts in Mexico during the second quarter was 1,726, about 58 incidents every day.In comparison, Overhaul reported a total of 240 cargo thefts that occurred across the U.S. in the first six months of 2023. The states with the highest rates of theft were California, Texas and Georgia, with an average of loss of $360,000.In Mexico, the most common type of cargo theft in the second quarter involved stealing entire loads from trucks (35%), followed by pilferage of products from trucks (31%), deceptive pickups (23%), facility theft (4%), theft from last-mile couriers (4%) and hijacking trucks (3%).The most stolen goods in the quarter were food and beverage products (30%), building materials (12%), home and garden supplies (7%), metals (6%), auto parts (4%), alcoholic beverages (4%) and pharmaceuticals (3%).Story continuesAlthough the percentage of cargo thefts with violence remained the same during the first and second quarters of 2023, the level of violence used by criminals to commit the crimes escalated.“The number of thefts with violence in the second quarter … retained the same proportion as in the first quarter, 82%,” Overhaul said. “Criminal groups are expanding their areas of action while increasing the number and specialization of people dedicated to cargo theft.”The company said one of the most dangerous routes for truck drivers in Mexico was the Arco Norte Highway, a roadway on the northern outskirts of Mexico City.“The Arco Norte highway was one of the five highways with the highest rate of theftsrecorded by Overhaul in the first half of 2023,” Overhaul said. “At least six drivers were injured in thefts along the Arco Norte, two by firearms and four by severe beatings. Additionally, at least one operator died as a direct result of criminal groups operating on this highway.”Overhaul said law enforcement, as well as shippers, carriers and cross-border trade stakeholders, need to cooperate in order to combat cargo theft on the roadways.“The effectiveness of security measures depends on the full cooperation and participation of all the parties implicated in the supply chain, which is not only limited to shipping lines, drivers, yard personnel and freight owners,” Overhaul said. “It demands a prevention and safety awareness culture in which the parties involved are aware of and respect the safety strategies implemented before, during and at the end of the route.”APM Terminals invests $140M to expand facility at Mexico seaportAPM Terminals recently announced a $140 million investment to increase capacity to its container facility at Mexico’s Port of Lazaro Cardenas.APM Terminals Lazaro Cardenas said the project will increase the capacity of the first semi-automated facility in Latin America, with an additional 1 million twenty-foot equivalent units to position it as a hub for the Americas region.APM Terminals is expanding its container facility at the Port of Lazaro Cardenas to position it as a hub for the Americas. (Photo: APM Terminals)The Port of Lazaro Cardenas is a deepwater container facility located along the country’s Pacific coast, about 386 miles west of Mexico City.The project is scheduled to be completed in 2026 and will allow the terminal to handle an annual throughput capacity of 2.2 million TEUs.The expansion also includes six automated rail-mounted gantry cranes, 14 new shuttle carriers and four empty handlers.APM Terminals, a division of A.P. Moller-Maersk, operates facilities in 65 locations around the world.XPO adds capacity at Texas facilityLess-than-truckload carrier XPO recently completed an expansion of its service center in Garland, Texas.XPO added 58 dock doors to the facility, located in the Dallas metro area. The expansion is part of the company’s plan to grow capacity by adding 900 new doors to its service centers across the country by the first quarter of 2024.The Garland service center currently employs more than 100 people. With the expansion, XPO plans to hire additional dockworkers and driver sales representatives. XPO employs nearly 2,300 people across Texas.Greenwich, Connecticut-based XPO (NYSE: XPO) is one of the largest providers of asset-based less-than-truckload transportation in North America. The company serves more than 49,000 customers with 562 locations and 37,000 employees.Jaguar Transport Holdings to operate Dallas transload facilityJaguar Transport Holdings has entered into an agreement with Union Pacific subsidiary Loup Logistics to operate the Dallas Transload Solution facility, located southeast of downtown Dallas near Interstate 45.The 7-acre facility connects with a Union Pacific line and is equipped with three transload tracks, truck scales, covered storage areas and other outdoor laydown space.Dallas Transload — which mostly transports steel and lumber — provides rail service for customers that want the efficiencies of using rail but lack a physical site located on a railroad, Jaguar Transport officials said in a news release.Joplin, Missouri-based Jaguar Transport Holdings is a transportation and logistics company operating eight short line railroads and multiple other rail-served sites across the U.S.Watch: FreightWaves discusses why Flexport recently fired its CEO.This content is not available due to your privacy preferences.Update your settings here to see it.Click for more FreightWaves articles by Noi Mahoney.More articles by Noi MahoneyCould Mexico help Texas become the US’ largest economy?Borderlands: Solar panel maker to build $1B factory in New MexicoTaiwan-based electronics company investing $500M in MexicoThe post Borderlands: Mexico averages 58 cargo thefts a day in Q2 appeared first on FreightWaves.

FreightWaves

Borderlands: Mexico averages 58 cargo thefts a day in Q2

https://finance.yahoo.com/news/borderlands-mexico-averages-58-cargo-110000594.html

d52e3986-aa8c-382b-a070-529595600399

XPOF

Xponential Fitness, Inc. XPOF recently announced its 2026 operating targets. It also confirmed that it coincides with 2024 sell-side performance estimates. Shares of the company dropped 15.4% during trading hours on Sep 6.2026 OutlookFor 2026, the company expects revenues of $405 million. The company anticipates new studio openings to be 500 in 2026. System-wide sales in 2026 are anticipated to be $2.330 billion. The company expects 2026 Adjusted EBITDA to be at $190 million.Other UpdatesThe company announced the selection of VaynerMedia as its global media and creative agency of record, effective Oct 1, 2023. The partnership supports a streamlined and coordinated approach to enhance consumer touchpoints and brand-building efforts.Under the collaboration, VaynerMedia will create and carry out a thorough and insights-driven marketing and content plan to boost brand awareness, engage new audiences, and optimize marketing spend. It will also provide media, strategic and creative services to support Xponential's international growth. The management is optimistic concerning the partnership.Apart from this, the company also disclosed a partnership with the corporate wellness platform Gympass. The company is confident that it can reach a new market of potential clients and generate additional studio revenue backed by Gympass coverage of 15,000 corporate customers and two million paid users.Zacks Investment ResearchImage Source: Zacks Investment ResearchSo far this year, shares of the company have declined 16.8% against the industry’s rise of 18.6%.Zacks Rank & Stocks to ConsiderXponential Fitness currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Zacks Consumer Discretionary sector are:Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.5% on average. Shares of RCL have gained 118.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 54.5% and 180.3%, respectively, from the year-ago period’s levels.Trip.com Group Limited TCOM flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 147.9% on average. Shares of TCOM have increased 50.9% in the past year.The Zacks Consensus Estimate for TCOM’s 2023 sales and EPS indicates a rise of 104.9% and 537.9%, respectively, from the year-ago period’s levels.Skechers U.S.A., Inc. SKX sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 39.1% on average. Shares of SKX have increased 31.8% in the past year.The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 8.7% and 42%, respectively, from the year-ago period’s levels.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis ReportSkechers U.S.A., Inc. (SKX) : Free Stock Analysis ReportTrip.com Group Limited Sponsored ADR (TCOM) : Free Stock Analysis ReportXponential Fitness, Inc. (XPOF) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Xponential Fitness (XPOF) Reveals 2026 Targets, Stock Down

https://finance.yahoo.com/news/xponential-fitness-xpof-reveals-2026-151700836.html

224d6445-f1fc-3c5e-a225-470cff64e393

XPOF

Week to date, shares of Xponential Fitness (NYSE: XPOF) were down 13% through Thursday's market close, according to data provided by S&P Global Market Intelligence. Xponential Fitness has grown revenue about fivefold over the last five years. In the most recent quarter, Xponential Fitness reported same-store sales growth in North America of 15%.Continue reading

Motley Fool

Why Xponential Fitness Stock Dropped This Week

https://finance.yahoo.com/m/9ecbe728-6941-304c-8e62-b22a92bb2e16/why-xponential-fitness-stock.html

9ecbe728-6941-304c-8e62-b22a92bb2e16

XRAY

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Q2 2023 Earnings Call Transcript August 3, 2023 Operator: Good day and thank you for standing by. Welcome to the Dentsply Sirona Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Andrea Daley; Vice President of Investor Relations. Andrea Daley: Thank you, operator, and good morning, everyone. Welcome to the Dentsply Sirona Second Quarter 2023 Earnings Call. Joining me for today’s call is Simon Campion, Chief Executive Officer, and Glenn Coleman, Chief Financial Officer. I’d like to remind you that an earnings press release and slide presentation related to the call are available in the Investors section of our website at www.dentsplysirona.com. Additionally historical financial data for our new segment is also available on our website. Yesterday, we announced that the company identified a material weakness in internal control over financial reporting, which did not result in a material misstatement of the company’s previously issued financial statements.Lucky Business/Shutterstock.com For more information, refer to Item 801 of the company’s current report on Form 8-K filed on August 2, 2023. Before we begin, please take a moment to read the forward-looking statements in our earnings press release. During today’s call, we may make certain predictive statements that reflect our current views about the future performance and financial results. We base these statements and certain assumptions and expectations on future events that are subject to risks and uncertainties. Our most recently filed Form 10-K and any updating information in subsequent SEC filings lists some of the most important risk factors that could cause actual results to differ from our predictions. Additionally on today’s call, our remarks will be based on non-GAAP financial results. We believe that non-GAAP financial measures provide investors with useful supplemental information about financial performance of our business, enable the comparison of financial results between periods where certain items may vary independently our business performance and allow for greater transparency with respect to key metrics used by management in operating our business. Please refer to our press release for the reconciliation between GAAP and non-GAAP results. Comparisons provided are to the prior year quarter unless otherwise noted. A webcast replay of today’s call will be available on the Investor section of the company’s website following the call. And with that, I will now turn the call over to Simon. Simon Campion: Thank you, Andrea, and thank you all for joining us this morning for our Q2 2023 Earnings Call. Today, I’ll start by providing an overview of our recent performance. Glenn will cover Q2 results and the updated 2023 outlook and then I will finish by providing a strategic operating update. Starting on Slide 4. We were pleased with the second quarter results, delivering more than 2% organic sales growth. These results rounded out a strong first half of the year in which we exceeded our commitments and delivered over 3% organic growth, well above our expectations. Fulfilling our commitments, financial and otherwise, both internally and externally remains a top priority for this leadership team. Q2 performance was highlighted by organic growth in all four new segments. Based on the momentum in the first half of the year and our increasing confidence in the back half of the year, we are raising the full year 2023 outlook for net sales, organic sales and adjusted EPS, which Glenn will cover in a moment. We continue to execute on our transformational and strategic initiatives. The progress we are making is beginning to take shape in our results. We believe we are on the right path, driving improvement and transforming the business to deliver sustainable performance over the long term. As previously shared, we had received several inquiries about our Wellspect healthcare business from interested parties. After a thorough review of these and other alternatives, we have decided to keep the Wellspect business in the Dentsply Sirona portfolio as the options explored did not adequately reflect the value of the business. We have now commenced the incorporation of Wellspect into the operating model and we’ll share performance data as part of our investor updates. We have initiated quarterly business reviews with our second one recently held in Europe to discuss performance and strategy for each country and business group. While there, we reviewed the Connected Technology Solutions R&D pipeline, which we feel is robust. Spending time with our local teams also plays a critical role in building an accountable, high performance culture. These meetings give us the opportunity to dive deeper into the business and engage with employees and customers. Additionally, in Europe, we continue to engage in productive and positive conversations with the Workers Councils regarding the restructuring plan. We are also continuing to deliver on our sustainability commitments. We have developed and launched the first sustainability educational curriculum for dentistry through the Dentsply Sirona Academy. The curriculum was developed in response to an international study Dentsply Sorona conducted in 2022 on sustainability. To complement the course, the team developed a Sustainability in Dentistry resource Kit to assist dentists in their effort. And now I’ll turn it over to Glenn to discuss our second quarter results in greater detail. Glenn? Glenn Coleman: Thanks, Simon. Good morning and thank you all for joining us. Today, I’ll provide more detail on our second quarter results and an update on our 2023 outlook. As Simon mentioned, we delivered top and bottom line results above expectations. The second quarter performance was highlighted by organic growth in all four segments, which coupled with favorable margins and a lower tax rate, drove better than expected adjusted EPS. Notably, the second quarter represents another quarter of delivering on our commitments. Let’s begin on Slide 5. Our second quarter revenue was $1.028 billion, representing reported sales growth of 0.5%. Foreign currency negatively impacted sales by $18 million and was larger than expected due to the strengthening of the U.S. dollar versus the Japanese yen and Russian ruble. On a constant currency basis, sales grew 2.3% led by continued double digit growth in our Aligners business and broad based strength in Asia Pacific led by China which grew 25%. EBITDA margins were 17.7% and were better than expected driven by leverage from higher sales and effective cost management. Year-over-year EBITDA margins were lower due to continued inflationary headwinds impacting our cost of goods sold, the higher commercial and infrastructure investments, partially offset by price increases and cost reductions from our restructuring program. Adjusted EPS in the second quarter was $0.51 and was well above expectations despite a $0.2 FX headwind. On a year-over-year basis, adjusted EPS declined by $0.18 largely due to lower operating margins. Operating cash flow was $104 million as compared to $173 million in the prior year quarter. The decline was primarily due to changes in working capital, which was impacted by the timing of AR and AP compared to the prior year and higher operating expenses associated with commercial and infrastructure investments. In the second quarter, we returned $30 million to shareholders through dividends with a total of $207 million returned year-to-date through a combination of dividends and share repurchases. Let me now turn to our second quarter segment performance on Slide 6. Starting with the Connected Technology Solutions segment or CTS, organic sales grew 2.8% primarily due to improvements in the supply chain and shorter lead times for certain high tech equipment, partially offset by softer demand in Europe. Within CTS, our CAD/CAM business declined by mid-single digits driven by lower demand in Europe, particularly in Germany along with broader macroeconomic challenges across the region. That said, underlying retail demand in the U.S. improved sequentially. The Equipment & Instruments business grew high single digits, driven by improvements in treatment centers and imaging in Europe. As well as solid demand across all product categories in Asia Pacific. Organic sales in the Essential Dental Solutions segment, which includes Endo, Resto and preventive products grew 0.7%, driven by stable patient traffic in the U.S., partially offset by softer demand in Europe. We attribute a portion of the softness in Europe to pre-buying activity in the first quarter. Moving to the Orthodontic and Implant Solutions segment, organic sales grew 3.7%. Aligners grew double digits for the fourth consecutive quarter driven by growth in both SureSmile and Byte. SureSmile grew over 20% and continues to benefit from market share gains, regional expansion, new product offerings and differentiated outcomes. Our direct-to-consumer aligner brand Byte grew high single digits, driven by improved customer conversion rates and lower customer acquisition costs which not only drove higher revenues but also better profitability. On a full year basis, we continued to expect our Aligners business to grow double digits. Implants returned to growth in the quarter, highlighted by demand for value implants as well as growth in China due to VBP volumes and a recovery from COVID related shutdowns. Our U.S. implants declined in the quarter, but we expect to see gradual improvement for the remainder of the year. And wrapping up with the Wellspect Healthcare segment, organic sales grew 3.1% with growth across all three regions. For Wellspect, we expect to see faster growth in the second half of the year, which will include recent and planned new product launches. Now let’s turn to Slide 7 to discuss second quarter financial performance by region. U.S. organic sales grew 1.1% driven by stable demand in Essential Dental Solutions and double digit growth in Aligners, partially offset by lower sales of imaging equipment and implants. U.S. CAD/CAM distributor inventory levels declined approximately $20 million sequentially in the quarter driven by solid underlying retail demand. Distributor inventory levels for CAD Cam products remained low at the end of the second quarter relative to historical averages. Because of this, for Q3, we expect to see a sequential increase in U.S. distributor inventory levels in advance of DS World in September. Turning to Europe, organic sales declined 2% due to lower implants in CAD/CAM sales which we attribute to macroeconomic headwinds in the market and unfavorable timing of orders for Essential Dental Solutions. These declines were partially offset by continued SureSmile growth in the region. We also saw more pronounced demand softness in Germany, which is a key market for our business due to recessionary pressures in the country. Rest of world organic sales grew 11% in the quarter, driven by growth in all four segments. China and Australia posted solid growth and we also saw strong equipment demand across the region. With that, let’s move to Slide 8 to discuss our updated outlook for 2023. We’ve updated our full year outlook to reflect our performance in the first half of the year as well as our increased confidence for the remainder of 2023. While we recognize macro uncertainties cloud the economic outlook in the second half, we are seeing stable to improving patient traffic in most key markets and our execution is improving. We are increasing our outlook for the full year net sales to a new range of $3.98 billion to $4.02 billion. This represents a $75 million increase at the midpoint of the range which is now at $4 billion. We expect organic sales to grow approximately 3% which is an increase compared to our prior range of flat to 2% growth and we expect to show growth in all four of our segments. We estimate full year EBITDA margin to be greater than 18% unchanged from prior outlook. While we continue to face cost headwinds impacting gross margin we’re seeing these headwinds stabilize and expect gross margins in the second half of the year to be consistent with the first half. Given the better than expected top line performance, we’re also raising our full year adjusted EPS outlook by $0.5 at the midpoint to a new range of $1.92 to $2.02. Keep in mind that the improved outlook also includes a $0.3 FX translation headwind. Overall, we’re pleased to be raising our adjusted EPS outlook for the second consecutive quarter. Our first half performance gives us even more confidence that we’re on the right path towards achieving our target of $3 adjusted EPS in 2026. For the second half of the year, we expect organic sales growth to be approximately 3% with Q3 growth below 3% and Q4 growth above 3%. For the third quarter, we expect adjusted EPS to grow mid-teens year-over-year but be lower sequentially due to seasonality. A return to earnings growth in the third quarter would mark an important milestone in our turnaround story. With that, I’ll turn the call back over to Simon. Simon Campion: Thank you, Glenn. Moving on to the strategic update starting on Slide 9. Let me start by reaffirming our strategy, to transform dentistry by digitalizing dental workflows, driving product and service innovation and delivering an exceptional customer and patient experience through an engaged and diverse workforce. In order to fulfill our strategy, we must focus on a simple, more secure and connected workflow experience that our clinic and lab customers trust to deliver better treatment journeys and patient outcomes. We are making meaningful progress executing on the strategy as we remain intently focused on our objectives. Slide 10 shows the 2023 and beyond strategic objectives which I first shared with you at the start of this year. Our five core tactical and strategic objectives are to, one, deliver on our annual growth and margin commitments, two, enhance and sustain profitability, three, accelerate enterprise digitalization, four, win in Aligners and implants and five, create a high performance culture. We continue to leverage and expand our operating model to regularly monitor and measure performance and drive progress against these objectives, which we believe has already begun to translate into better business performance. Turning to Slide 11 for an update on our objectives. Starting with the goal to achieve our annual growth and margin commitments, we now have consecutive quarters where we have exceeded our commitments and delivered a better than expected first half of the year. While there is still much work to do, we are increasingly confident in our ability to deliver consistently on our commitments. In February, we announced the new operating model and restructuring plan. We have acted with urgency and have made meaningful progress on the transformation work, with workforce reductions largely complete in regions outside of Europe. Our SKU rationalization plan continues to advance with pilots well underway in Europe and the U.S. and a project team in place to oversee execution. Additionally, there are other opportunities to enhance and sustain profitability through network and operational simplification initiatives with four locations in the U.S. already in the midst of transferring to other locations in our network. Enterprise digitalization is critical to our success and we remain focused on accelerating it both internally and externally. We are advancing our multi-year ERP implementation project with the internal team assembled and the blueprinting or design phase already underway. We also continue to add capability to DS Core. Over the past two quarters, new functionality has been added to enable more efficient communication between dentists, labs and patients, improve the efficiency of CAD/CAM practice workflows and broaden the range of services to include SureSmile and the Lab. Winning in Aligners and Implants is another important strategic objective. In the new structure, these businesses are now combined into one segment. In Q2, the Aligner business delivered another quarter of double digit growth, highlighting the momentum and traction we have gained in this category. Byte continued to deliver top line growth and enhanced operational performance with higher customer conversion rates, effective patient engagement and lower customer acquisition cost. SureSmile continues to drive market recognition and growth through our differentiated offering, particularly in the GP channel. Our offering is now available in 55 countries, representing most of our key markets across the globe and we continue to demonstrate the benefits of SureSmile and evaluate investment opportunities to enhance our footprint in certain geographies. In Implants, we have reactivated our investment in clinical education after a prolonged period of underinvestment in this area. In Q2, we hosted the Implant Summit in Athens, Greece, which brought together more than 400 clinicians for three days of hands on peer-to-peer learning and engagement. Customer feedback from the event was very positive. Additionally, we continue to focus on performance in the Implants business and recognize there is more work to do. In the U.S., we are seeing some green shoots with a number of new accounts coming online in the last quarter. Globally, our value implants offering MIS has shown consistent growth. In China, the Implants business gained strong traction during the VBP program rollout. The incremental volume since implementation has exceeded our expectations and we now expect that volume will more than offset the pricing headwinds for the full year. Lastly and importantly, I would like to touch on the work we are doing to create a high performance culture here at Dentsply Sirona. This is critical to enable achievement of our other strategic objectives and foundational to driving long-term value creation for all stakeholders. Our new operating model continues to evolve and take shape, providing clarity, efficiency and putting the customer back at the center of everything we do with compliance at the forefront. It gives meaning to the KPIs implemented to diligently run the business and hold ourselves and each other accountable. You can expect to keep hearing these things from us because they stand out as core to our operating model and principles. We’ve also continued to build out the leadership team. Last quarter, I announced that a new SVP of Quality and Regulatory Affairs joined the team, a newly created role elevating quality within the leadership team. Most recently in mid-July, we brought in a new HR leader who along with the rest of the leadership team will play an instrumental role in driving high performance culture throughout Dentsply Sirona. We also hosted the top 100 DS leaders in Charlotte during the quarter. This meeting, the first since 2019, helped us further align on our operational objectives and transformation, drive our winning culture and reinforce our commitments to ethics and compliance. Now let me close with a few remarks on slide 12. As a reminder, 2023 is a transition year. However, Q2 represented another quarter of improved execution, which provides increased confidence in our outlook. As an organization, we believe we are making significant progress on our transformational and strategic initiatives and we’ll pivot as warranted to pursue our goals. Achievement of the goals, coupled with more normalized marking conditions, will position Dentsply Sirona to grow revenue in line with the market while also increasing profitability. The combination of these positive factors can position Dentsply Sirona to deliver meaningful earnings improvement with adjusted EPS of $3 targeted in 2026. While we have talked a lot about cutting costs, we recognize the criticality of leveraging some of these released funds to invest smartly in our business with a focus on ROI to drive long-term growth. As I said earlier, it’s not just about bringing great products to the market, we must also actively invest in customer engagement, clinical education and sustainability. As previously announced, our Investor Day will be on November 9th in Charlotte. We look forward to sharing more details about our strategy and road map at this event. And with that, I will open it up for questions. See also 15 Ugliest Nationalities in Europe According To Reddit and 10 Best Sectors To Invest In Long-Term.Story continuesQ&A SessionOperator: Thank you. We will now conduct the question-and-answer session. [Operator Instructions] Please stand by while we compile the Q&A roster. Our first question comes from Elizabeth Anderson with Evercore ISI. Please proceed with your question. Elizabeth Anderson: Hi guys. Congrats on the quarter and thanks so much for the question. I was wondering if you could talk about how you sort of see the progression of the gross margin over the rest of the year? You obviously had a little step up in the quarter. I think you previously talked about maybe 100 basis points for the third quarter. So just sort of if you could talk about maybe or if you can’t talk about it quantitatively if you could sort of talk about the puts and takes on that line? Thank you very much. Simon Campion: Yes, Elizabeth, thanks for the question. If you look at the first half of the year, gross margins, we did something around 56.7%, a little bit higher sequentially from Q1 to Q2. We expect it to be pretty consistent in the back half of the year. So I would just say second-half of the year very consistent with what we saw in the first half of the year. And we’re still dealing with inflationary pressures. I think the good news is they are starting to subside, but I think we’ll see a better improvement in gross margins moving into next year. On EBITDA margins, we do expect to see a meaningful improvement in our EBITDA margins really in the fourth quarter, so sequentially I’d expect EBITDA margins to go up slightly from Q2 and then a much more meaningful increase in -- from Q2 to Q3 and then more meaningful increase in Q4. So EBITDA margins, we are expecting a much larger jump and that’s because of the restructuring savings kicking in in the back half of the year. Elizabeth Anderson: Got it. That was very helpful. And as a follow up, can you talk about, I know the macro has been excitingly ever changing this year and I appreciate your comments about China et cetera in the quarter. Can you talk about sort of how July progressed and sort of what you’re seeing currently in the U.S. and Europe and China? I know China obviously had the lockdown, your comments on the rest of the world would also be helpful. Thank you. Simon Campion: Yes. In terms of July trends, I would just say no significant changes from what we saw in the second quarter. We did have some growth in the month of July, but keep in mind. July sequentially coming off of June is a big drop off, especially in Europe. So when you look at our Q3 guidance, well, it’s up year-over-year in terms of organic growth. We said it’s a little bit less than 3%. Sequentially, we expect Q3 to be down largely driven by the seasonality factor in Europe. So make sure you consider that in your numbers. But July trended exactly in line with our expectations down sequentially but, up slightly year-over-year continue to see stable patient volumes even in spite of a challenging external environment. I would just say that our Ortho business performed really well in July, so that was good to see. But again it’s still just one month in the quarter and our guidance for Q3 reflects what we saw in the month of July and again guidance for Q3 would suggest less than 3% organic growth down on a sequential basis and if you do the math on that, I would say somewhere on 975 would be the revenue number for Q3. And then EPS, we do expect to see mid-teens growth year-over-year, which is good to see. We’re finally talking about positive numbers year-over-year. And based upon that color, I would just say the EPS number is probably around $0.47 to $0.48. So hopefully that gives you a little bit of color on Q3. Operator: Please stand by for our next question. Our next question comes from Michael Cherny with Bank of America. Please proceed with your question. Michael Cherny: All right, good morning and thanks for taking the question. Maybe if I can just start on the segments. I’m not sure if this is too early or something we should wait till Analyst Day for, but is there any color you can give on how we should think about growth across the segments that’s embedded in guidance in the remainder of the year and how we should think about the run rate and I guess the medium term, long term, whatever time frame we want to use outlook for the four new segments?. Glenn Coleman: Yes, Mike, this is Glenn. I would just say we haven’t given specific guidance on the segments other than, we did make comments that we do expect to see organic growth in each of the four segments. So I would just say, from a color perspective, that’s all we’re willing to say at this point. When you look at the faster growing segments, obviously Implants and Ortho obviously are one of the fastest growing segments. So that would be one where you’d expect to see faster growth. But at this point, we’re seeing positive trends across all four segments. We expect growth and look for Ortho and Implants to probably go a bit faster than the other three segments. Michael Cherny: Got it. It’s helpful start. And then I guess maybe on the Ortho side, there’s been a lot of variability over the last few quarters now, but especially this quarter in terms of the reported growth rates, obviously off very different bases. How do you see, I’m thinking more on the professional side, but happy to touch on Byte as well, but where the current competitive dynamics lies and I guess the areas where you’re winning the most opportunity versus the areas where you still think you have the most room for further penetration or improvement?Simon Campion: Yes. Good morning. So, Ortho again performed extremely well and SureSmile in particular, I would say globally, it performed very well. We’re now in over 55 countries. Europe had a tremendous performance and excess of 50% growth in Europe on SureSmile and we’re winning in the in the GP arena. That’s where we’ve been focused on. We are also in the process of equipping our Ortho reps with scanners as we focus on scanner penetration too. So SureSmile is a critical component of our business, has been and will continue to be. We expect to launch some additional simulation tools in the back half of the year. We also expect on the Byte side which is another solid quarter of growth to launch Byte Plus as we roll towards the end of the year which we feel will help drive more patients into the GP channel and so they can actually become patients, not just for the Byte aligners, but also for other preventative and restorative care in the GP space. So, an area of intense focus, a lot of investment and as we said in our prepared remarks, we continue to evaluate opportunities to invest in commercial channels for our Aligner business on a global basis. Michael Cherny: All right, thanks. Operator: Thank you. Please stand by for our next question. Our next question comes from Jeff Johnson from Baird. Please proceed. Jeff Johnson: Thank you. Good morning guys. Congratulations on the continued progress. Glenn, you touched on it in one of your answers here just recently on a little bit on the cost saving sides. But out of the $200 million that you’re planning over the next several years, can you just remind us what so far is run rate into the P&L? And I think more importantly, as you’ve reactivated some of that Implant training doubling down here on some of the clinical education, the ERP progress is starting to happen. Just remind us, the phasing maybe of that $200 million in savings over the next one, two, three years, does the bulk of it come in year one versus year two and three and how much initially of those savings should we expect to be offset by some of these added investments here at least in the short intermediate term? Thanks. Glenn Coleman: Hi, Jeff, thanks for your comments. First, I would say we’re on track to our restructuring plans with annualized savings of $200 million to $225 million. That will be realized by mid-2024, so most of the savings would come next year. For 2023, what we said was we’d achieve about $0.30 of savings from the restructuring program. That’s about $85 million. But to your point, we are investing a lot of that back into the business, commercial infrastructure, whether it be North America Implants, DSOs, a lot of investment in clinical education, the ERP system, compliance and qualities, to name a few. We basically said that those investments would consume about $0.25 of the $0.30 in terms of the restructuring programs, only the $0.5 would flow through this year in terms of the restructuring program. In terms of where we are, the headcount actions have essentially been taken across all countries outside of a few in Europe and those are obviously complex in terms of the multiple workers council approvals that we have to get through. And we’ve also got to get some additional non headcount savings in the back half of the year. But on the whole, everything is progressing as we would expect. If you look at the first half of the year versus second-half of the year for 2023 and the meaningful improvement in the back half of the year, both in terms of EBITDA margins and EPS, so, we did $0.90 of EPS in the first half midpoint of our guidance, which suggests a dollar seven in the back half. Over two thirds of that improvement in EPS is expected to come from the restructuring savings kicking in the back half of the year. So hopefully that gives you a lot of color on what we’re expecting this year and then obviously as you move forward to next year, we should see another meaningful increase. In the restructuring savings, we haven’t yet laid out how much of that is going to be offset by investments next year, but clearly there will be a nice pull through when we look at 2024. Jeff Johnson: All right and hopefully this doesn’t count as my follow up, but would you expect those investments to be less as a percentage of the cost savings next year, so more of the cost savings can flow through. But then the follow up question I do want to ask is just on Europe, what’s your just, maybe, sign and your update on state of the economy there? I think your comments this quarter were maybe a little more guarded, obviously leading that to economic indicators have not looked great. Obviously, you have a pretty sizable exposure to Germany with the Sirona legacy business so maybe it’s all equipment, but what is patient demand looking like there? How concerned are you about maybe the next six to twelve months? Is that something that you think Europe could really see a consumption issue from a general standpoint? Is this just an equipment sluggishness right now because of Germany’s macro? Just how to think about the lay of the land in Europe right now? Thanks. Glenn Coleman: Well, thanks. Sure. So Jeff, just like we did for the last two quarters, we ran our survey and we got about 450 responses from Europe, about half of those came from Germany. And I would say sentiment in Germany with customers is muted and has deteriorated versus the prior survey. Especially around capital equipment and indeed around patient volumes, let’s say the other geography that is a watch out for us and others I’m sure is Australia and New Zealand. They’ve also, their sentiment has also declined but in the other countries in Europe, the UK is stable, France is stable, Italy is stable. So it’s really centered around, the negative sentiment that we that we found in our survey is primarily centered around Germany and Australia, New Zealand with everywhere else stable to modest improvement very modest improvement.Jeff Johnson: That’s helpful. Thank you. Operator: Thank you. Please stand by for our next question. Our next question comes from Kevin Caliendo with UBS. Please proceed. Kevin Caliendo: Thanks. Thanks for taking my question. You talked earlier about winning some new accounts in Implants. I know you had made some investments in Implant sales force. Can you maybe talk a little bit about what kind of clients you’re winning on the Implant side and the Implant dynamics that you’re seeing in the U.S., in Europe and in China, the differences between the markets right now? Glenn Coleman: Yes, so let me start with the shining light Kevin, which is China. We had a tremendous quarter in China on implants. We now strongly believe that we will offset the price degradation with volume as we head into the back part of the year. Clearly we’re winning in MIS there in the mix. The mix is also favorable for us in China, so all very positive in China. I would say in the U.S. we’ve made those investments as we went into the early part of this year in the sales team and now in Q2 not only have we got the e sales team together for training, we also invested in that 400 person session in Greece and other sessions like it. We have we had stepped away, the company had stepped away from investments in the Implants business and clinical education in particular over the past number of years and I think as I shared on the last call the Implantologists view themselves as a family and we had moved away from that family, but we’re now reengaging. And it’s, sentiment is positive from these customers as a result of this. I would say with the type of customers that we are winning, it’s -- I would say, it’s too early to get any trends from that. Obviously, we monitor this on a religious basis each and every month. And I mentioned in the prepared remarks that there are green shoots in terms of the engagement of our reps, the number of customer visits they are making, some of the positivity from customers and also from their referral dentists because that’s part of the challenge that we have here. It’s not just calling on the implantologist. We also need to get to their referring dentists as well, which is the heavy climb that we have faced. But as Glenn said in his remarks, we do expect progress in Q3 and Q4 and expect to see growth for the year in implants. So, we’re heading in the right direction we feel, but it’s -- we’re a long way from thinking we have the job done. Kevin Caliendo: If I can ask you a quick follow-up. DS World is coming up, we’re all anxious to see your -- you guys running your first DS world and I know that when you took over, you were -- you looked at some of the R&D projects that were in the pipeline and I think maybe got rid of some of them or changed up sort of the R&D model. How much of this DS World would you say is stuff that you’re -- that you put in place and how do you think, from an R&D perspective, where does investment need to come going forward? Like where would you want to be focused going forward? Simon Campion: So I would say, a year into our tenure here. You don’t make changes in terms of products sitting in the street within a year. The life cycle is longer than that, but what we have done is install the processes around R&D, so that we can accurately assess the potential return on it and accurately assess the timing of commercial launches. And so, they are the processes that we have built around and we have consolidated our R&D efforts around fewer programs that we focus on ROI. We have a robust process now for valuation and we will be, as I mentioned in an early response, we will be launching new products over the next number of months. You’ll get sight on some of them at DS World and then further into Q4 and Q1. So, it’s very much a work in progress on the R&D side and it’s, I would say, no projects that we have kicked off will have -- will see the light of day here for the next several months, but the process is more robust. Kevin Caliendo: Thank you. Operator: Thank you. Please stand by for our next question. Our next question comes from Jonathan Block with Stifel. Please proceed. Jonathan Block: Thanks guys. Good morning. The outperformance for the first half of 2023 and Glenn, I think as you mentioned, you’re obviously taking up the implied 2H as well by really a decent clip. But Glenn, what are the areas of the overall business that deviated the most to the upside, call it, versus your expectations when you guided whatever that was six, seven months ago? I’m guessing Aligners might be one of them, but maybe you can elaborate and give a little bit more detail and then I’ll pause and ask my follow-up. Glenn Coleman: Yes. I would say, regionally, it’s been in the U.S. and Asia Pacific. So, in the U.S., consumables have done better than our initial expectations. I think the retail demand has also been stronger for certain CAD/CAM equipment, which we haven’t yet seen in our numbers, so that’s encouraging as well. In Asia Pacific, obviously, we mentioned China. China has now been outperforming even some pretty robust expectations for the back half of the year. So I think China will continue to do well and actually outperform our initial budget, if you will. We’re seeing better recovery in imaging and treatment centers as well and a lot of that is improvements in the supply chain. We’ve significantly reduced lead times and so really good work by our global ops team on doing that, and that’s helping us to overperform there.And so those would be the areas coupled with what you mentioned earlier, which is Aligners. Aligners continues to do really well, really strong double-digit growth for us, both SureSmile and Byte and so those are the areas of outperformance. On the EPS front, the volume benefit from these higher sales is obviously helping us overachieve. We got a slightly higher restructuring savings in the first half of the year as well. The ortho profitability doing better than we had expected because of the outperformance there and then a lower tax rate. So I think on the whole, that’s how we look at the first half of the year. And we’re very pleased with how we started the year and looking forward to continuing it in the back half. Jonathan Block: Okay. Great color, thanks for that. And maybe I’ll try to ask sort of two quick ones. Simon, strategically on the scanner, you talked about some good results there and maybe you’re bundling with the Aligners. Are you -- where you want to be strategically, in other words, do you think you need, call it, a lower end scanner when you’ve seen what’s going on with some of the prices out there? And then if I can try to jam in another question. You started the year organic sort of flattish, you’re now at 3%, but the EBITDA margins remain, call it, greater than 18%, so where are those additional dollars, where are they being earmarked and going in terms of investments? And maybe just talk to us about the return time line on those dollars? Thanks guys. Simon Campion: Yes. So on the scanner side, with PrimeScan, we’re obviously a premium scanner with great technology available. And we did launch PrimeScan Connect in the September time frame last year. We had a really strong quarter in Q2 on PrimeScan Connect in fact, scanners, I think we had the second biggest quarter in six on unit sales in scanners and on mills. So we adapted some price on the PrimeScan Connect. So that’s not, I would say, an upper mid-value scanner that has resonated. We had traction in Europe, traction in Japan so scanners, we are pleased with the quarter, but we’re not pleased with where we are in the market and we are intently focused on bringing next-gen scanners to the marketplace. And as I mentioned, DS Core continues to be a really important aspect of our business moving forward. We brought new incremental capability to that in Q2 that will continue throughout this year and next year and any new technology that we bring out will obviously be integrated into DS Core and leverage the cloud. So that’s where we’re around scanner and equipment, and I’ll let Glenn handle the other part. Glenn Coleman: Yes, Jonathan, on the EBITDA margins, we have not updated our guidance since the beginning of the year. We’re on track to be greater than 18% EBITDA margins. And if you look at where we are investing, I would say, on the commercial side, North America implants, the return on that will come, I believe, probably later this year, Q4, most likely but that return should start to be felt here in 2023. The investments in DSOs we’re already seeing the top line improvements there. We do expect DSOs to have faster growth in the overall corporate average for the full year 2023. So that’s looking promising. The clinical education investments that we’re making on the implant side, on the Endo side, again, you don’t see an immediate payback for that, but we would expect to see that probably in 2024. The ERP investments take longer, the returns on those will take us multiple years to get to but an investment we have to make now if we’re going to have a sustainable, profitable long-term business. And I would just say, given the strong start to the year, we’ve made some additional investments in certain R&D programs and certain commercial areas outside the U.S. So for example, because we’re overachieving, I’ve just given the green light to go forward and add some additional reps and commercial footprint in Japan for our Ortho team, where we see a nice opportunity. And the returns on that will be 2024. I’ll actually have a hit in 2023, but we’ll definitely see returns in 2024. And so I’m going to do some things in the back half of the year here while still hitting our commitments but really setting us up better for next year. We want 2024 to really be an inflection year for us both in terms of top line performance and in terms of EBITDA margins and EPS. And so given the good start we’ve had to this year and what we’re seeing for this full year, I think we could do more while still hitting our commitments and setting ourselves up for better performance next year. Thanks for your question. Jonathan Block: Thank you. Operator: Thank you. Please stand by for our next question. Our next question comes from Nathan Rich with Goldman Sachs. Please proceed. Unidentified Analyst: Good morning. Hi, this Is Sara on for Nate. I just wanted to dig into the 25% growth we saw in China. So how much of that was VBP volume uplift versus underlying traffic improvement and the compares? And then how was traffic trending throughout the quarter? I’d just be curious to get a sense of your expectations for China over the back half of the year. Glenn Coleman: Yes. So in terms of our performance in China, let me just try to summarize the overall situation. I’m not sure we’re going to have the level of detail that you’re asking for. But I think, first and foremost, our China business represents about 3% of our consolidated sales to put that into perspective. We did have year-over-year growth of 25%. Sequentially, we actually even grew faster from Q1 to Q2 and a lot of that was driven by these VBP volume increases in implants. Implants had really strong growth above the 25%. And Simon made some comments earlier. We expect that the volumes now will actually offset the price erosion on a full year basis, which is very positive for us overall. As we move forward, I would expect to see really healthy growth in Q3 and Q4 coming out of China, at least double-digit growth in both of those quarters.And just to give you some perspective on the second quarter here, implants had a really strong quarter. We saw growth across all product categories, except for imaging. So the one area that we’re still being cautious on is the equipment side in China, both imaging and CAD/CAM but on the whole, between the COVID recoveries, between what we’re seeing in terms of our share gains in VBP and it’s both on the public and private side, we feel really good about the momentum we have there. Simon Campion: I would just add on the -- on our server data from China, where we had over 250 respondents. They are reasonably bullish about the next three to six months. Though their patient levels are -- their offices are not yet full, but they are improving quarter-over-quarter or survey over quarter – survey-over-survey. Unidentified Analyst: Really helpful, thank you. And then just on imaging, we saw strength from the supply recovery in the quarter. But if we exclude this impact, can you discuss like the underlying business performance? And then how are you thinking about imaging throughout the back half of the year? Glenn Coleman: Yes, no, we were pleased with the imaging performance as well as treatment centers. Both Europe and Rest of the World had really strong, robust double-digit growth in both of those categories. A lot of it was the improvements I mentioned earlier on supply chain and shortening lead times. If we look at the rest of the year, we’re still cautious on imaging. So I would say, right now, I’m still expecting to see some pressure on imaging in the third quarter and in the fourth quarter, and that’s what’s built into our guidance. So we’re not expecting to see a rebound, the high cost of financing, we think will likely impact some of this in the back half of the year in certain markets, including Germany, so, we’re going to be cautious on the equipment forecast going forward. It’s one of the reasons why our second half of the year guidance relative to first half of the year is flat to down when you look at half-to-half performance. And so if that turns out to be better, that’s going to be upside for us. But right now, we’re being very cautious on the equipment environment until we see better signs overall. Thanks for your question. Operator: Thank you. Please stand by for our next question. Our next question comes from Justin Lin with William Blair. Please proceed. Justin Lin: Hi, good morning guys. Thanks for taking my questions. I want to touch on guidance a little bit. The EPS guidance raise factoring the 3 points of FX headwind, I think, essentially just passes through the beat in the quarter that, obviously, you’ve raised yourselves much greater than the beat. Can you maybe just talk about kind of your thought process behind the guidance here? Glenn Coleman: Yes. Listen, I think this is our second guidance raise. We’re only halfway through the year. We did pass through the outperformance here in the second quarter. To your point, we are seeing higher FX headwinds right now. So we’re absorbing those in this increased guidance range that we’re providing. And again, if you look at the back half of the year, there are certain areas where we need to be careful about relative to getting ahead of ourselves. So, if you look at the Germany market, Australia, we’re being cautious there. I want to see the momentum we have coming out of DS World. We’re expecting to have a great event, and I’m hoping that we actually get some upside from the U.S. team coming out of the September event. So, still some things to see before we get too bullish on the year but in terms of EPS, we still have a lot of investments to make in this business ,we still got to get the infrastructure to where it needs to be having a solid foundation across the company. And like I mentioned earlier, I’m going to take some of this overperformance and try to do some things that I think will position us even better for next year. And so I’m looking at areas and opportunities, Simon mentioned these reviews that we’re doing regionally. Coming out of the last region review, we gave some additional dollars to certain sales leaders to go and get better top line performance for next year. And we have more planned coming up here later this month in Asia Pacific, as an example, and I’m planning on probably having a similar conversation. So one of the benefits of us actually overperforming on the top line is we can probably do some more investments to position us better for next year. But on the whole, we’re very happy with the first half of the year performance, both top line, EPS, EBITDA margins, and we’re moving forward. Justin Lin: Got it. That’s very helpful. I guess we haven’t really talked about Primeprint for a while, I feel like. Can you talk about how the product is gaining traction relative to your expectation and whether you’ve seen any sort of short-term hit to Prime mill, some doctors may see 3D printing as a replacement for mills in your practices. Simon Campion: Yes. So I’ll start with the second part of your question, Justin. We see printing and milling as extremely complementary. Printing does not, in our opinion, have the capability for permanent crowns, but more facilitates implants, temporary crowns, et cetera, et cetera, that’s our opinion. And we’ve been sharing it with customers and potential customers and we think it does resonate, and we have a strong printer offering, a strong resin offering and a great mill offering. Now with respect to our performance, I would say we are doing okay in the marketplace today. Our device is very efficient. We believe it’s got a great safety profile in the sense that it doesn’t expose the clinicians or technicians or the office to resins or fumes and the fact that it’s linked up to DS Core and other technologies as well.We think it’s a competitive advantage for -- we continue to invest in new materials, new material capability and we expect as we roll through the next six to nine months that our ability to compete with other vendors in this space that we will begin to level out the playing field as we bring some of these new materials to bear on that marketplace. So, we are bullish about the future of printing. We think it’s complementary to milling and that our complete technology offering coupled with DS Core will continue to be meaningful for customers, and we will certainly be driving it in that manner. Justin Lin: Very, helpful. Thank you. Operator: Thank you. Please stand by for our final question. Our final question comes from Michael Petusky with Barrington Research. Michael Petusky: Hi, good morning. Thanks for the question. And I’m going to sort of throw out a bigger-- I think philosophical question. So Simon, you’ve almost been in the chair for a year at this point. Obviously, a number of people have in that chair over the past decade have not been able to create sort of sustainable momentum and sustainable value -- a sustainable value-creating business. Just curious, what are two or three things now that you’ve been in the chair almost a year that you’ve sort of looked at and you said, "You know what, okay, I see where my predecessors maybe ran into some problems or these are some things that, obviously, we’ve as a business, historically, have not been able to get done." I mean are there things that you’ve learned at this point where you can sort of see, hey, this is why predecessors have not quite executed and here’s why I think we can? Thanks. Simon Campion: Well, I don’t know if I want to comment on what they -- what predecessors did and did not do. I’d rather focus on what we are doing. Michael Petusky: Sure. Simon Campion: So I’ll pick some of the things that we’ve spoken about at this meeting or at this call this morning. So, one, investment in commercial infrastructure and clinical education, we have reinvested, I think, significantly in that space. Number two, building capability around R&D, particularly, around uncovering innovation, monetizing it and discipline around the R&D process. The big gap for us, and we’re prepared to grab that thorny bush is ERP. We have thirteen or fourteen ERP systems in this company that drives massive inefficiency. So we -- as we noted in the prepared remarks, we have kicked off that project. We have selected the vendor we have selected the integration partner, we’ve built a team around it, and we’re in the blueprinting phase. We are reducing our network, our manufacturing and distribution network, so there are a lot of levers that we are pulling why others did or did not pull the same levers, I don’t know, but we have our -- we have a full plate and we’re making progress in all regards. In addition to the cultural transformation, we’re building out the team and we’ve elevated quality. We brought in a new CHRO leader, we’ve changed out the leadership in Australia and New Zealand. We’ve put the customer at the center of everything we do. In addition to driving a culture of ethical and compliant behavior, which we think is -- which we know is extremely important and we drive that at every single meeting. In fact, at the top 100 leader meeting that we had in Charlotte, the first presentation on the agenda was ethics and compliance. So we are not screwing around. It’s really important. Michael Petusky: All right, very good. Thank you so much. Operator: Thank you. At this time, I am showing no further questions. I would now like to turn the conference back over to Simon Campion, CEO, for closing remarks. Simon Campion: Thank you, and thank you all for your attendance on today’s call. I would just like to take a moment to reiterate some key points before we close. Firstly, delivering on our commitments is of the utmost importance to this team. We feel that operational execution is improving at Dentsply Sirona. We continue to make advances on the transformational and strategic objectives that we’ve laid out. We are, as we’ve spoken about, investing back into our business, which has been funded in part by our cost savings initiatives. And then finally, on behalf of the management team, I want to thank all Dentsply Sirona employees for their dedication to the business and the necessary transformation that is underway. And in particular, we want to express our thanks to employees who have departed the organization in the last quarter and wish them all well in the next phase of their careers. Thank you. Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.

Insider Monkey

DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Q2 2023 Earnings Call Transcript

https://finance.yahoo.com/news/dentsply-sirona-inc-nasdaq-xray-164825592.html

73256402-185b-3497-a8f3-e876a1ef89da

XRAY

DENTSPLY SIRONA Inc.CHARLOTTE, N.C., Aug. 18, 2023 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the "Company") (Nasdaq: XRAY) today announced that the Company will participate in the Baird 2023 Global Healthcare Conference. Management is scheduled to participate in a fireside chat discussion on September 12, 2023, at 9:05 am ET.Investors and other interested parties will be able to access a live audio webcast and audio webcast replay by visiting the Investors section of the Dentsply Sirona website at https://investor.dentsplysirona.com.About Dentsply SironaDentsply Sirona is the world’s largest manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solution offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. Dentsply Sirona’s products provide innovative, high-quality and effective solutions to advance patient care and deliver better and safer dental care. Dentsply Sirona’s headquarters is located in Charlotte, North Carolina. The Company’s shares are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products.Contact InformationInvestors:Andrea DaleyVice President, Investor [email protected]

GlobeNewswire

Dentsply Sirona to Participate in the Baird 2023 Global Healthcare Conference

https://finance.yahoo.com/news/dentsply-sirona-participate-baird-2023-143000762.html

a0be92c5-ab3a-3841-9d43-aef49c905009

XYL

Patrick Decker to retire from CEO position at the end of the year and remain employed as an advisor through March 2024COO Matthew Pine to assume CEO position effective January 1, 2024William Grogan appointed CFO, succeeding Sandra Rowland, effective October 1, 2023Company reaffirms third-quarter and full-year 2023 guidanceWASHINGTON, September 05, 2023--(BUSINESS WIRE)--Xylem Inc. (NYSE: XYL), a leading global water technology company dedicated to solving the world’s most challenging water issues, today announced that after a distinguished decade leading Xylem, President and Chief Executive Officer Patrick Decker has announced his plans to retire as CEO at the end of 2023. In accordance with the Company's long-term succession planning process, Decker will be succeeded by Matthew Pine, Xylem’s Chief Operating Officer, effective January 1, 2024. At that time, Decker will retire from Xylem’s Board and Pine will join as a Director. Decker and Pine will work closely together to ensure a smooth transition.Xylem has also appointed William Grogan, formerly Chief Financial Officer of IDEX Corporation, to Senior Vice President and Chief Financial Officer, effective October 1, 2023. Grogan succeeds Sandra Rowland who is leaving to pursue new and different opportunities. Both Decker and Rowland will remain employed through March 2024 to serve as advisors and support the transitions.Robert Friel, Chair of Xylem’s Board, commented, "With Patrick’s decision to retire, we have the privilege of making these executive appointments as Xylem’s strength, performance and momentum continue to rise. The Board unanimously agrees that Matthew is the right leader to drive the next chapter of value creation at Xylem. Matthew brings a strategic, global mindset and deep operational capability, and we look forward to his continued leadership in advancing the Company’s impact around the world."Friel continued, "The Board is very grateful for Patrick’s leadership over nearly ten years, a period during which Xylem transformed into a global market leader with expanded scale and international presence, the water industry’s most advanced portfolio of solutions, and an outstanding record of value creation – delivering more than 300% total return to shareholders. Under Patrick’s visionary and passionate leadership, he and the team have fortified Xylem’s competitive advantages and put the Company on a path of continuing growth. Xylem’s future is very bright and we thank Patrick for his service."Story continuesPatrick Decker commented, "It has been a tremendous honor to serve as CEO for nearly a decade. I am so proud of the impact the Xylem team has had helping our customers and communities become more water-secure and more sustainable. Having worked side-by-side with Matthew for the past several years, I have full confidence he will continue Xylem’s trajectory of growth and accelerate our focus on both economic and social value creation. I want to thank Rob and our entire Board of Directors for their steadfast encouragement and partnership throughout my tenure. I am excited about Xylem’s next chapter and look forward to working with Matthew over the next several months to ensure a smooth transition."COO Matthew Pine said, "Xylem is an outstanding company with an exceptionally talented and purpose-driven team. I am humbled and excited to have the opportunity to build on the strong foundation, momentum and long-term trajectory created under Patrick’s leadership. As we integrate two great companies – Xylem and Evoqua – the whole team is committed to helping our customers address intensifying global water challenges by applying the power of technology and innovation, driving the digital transformation of water, and delivering solutions at scale. Together with our partners, we have an unparalleled opportunity to deliver even more impact, alongside profitable growth and value creation for all our stakeholders."Commenting on the CFO succession, Decker said, "Bill will be an outstanding partner in guiding Xylem’s future, and Matthew and I are thrilled to welcome him to the team. A strategic global finance leader, Bill brings an impressive track record of value creation over 20-plus years. His deep experience delivering profitable organic and inorganic growth, focus on productivity, and disciplined approach to capital deployment will serve Xylem well as we continue on our path to deliver sustained organic growth, margin expansion, and above-market returns."Decker concluded, "On behalf of our entire company, I want to extend heartfelt thanks to Sandy for her countless contributions as our CFO over the past three years. Her energizing leadership and commitment to excellence have put us in a position of robust financial health and steered us confidently into the next phase of Xylem’s growth."The Company is reaffirming its third-quarter and full-year 2023 guidance issued on August 2, 2023.About Our ExecutivesMatthew Pine joined Xylem in 2020. During his tenure, he has led Xylem’s Applied Water Systems and Measurement & Control Solutions segments and the Americas Commercial Team. As Chief Operating Officer, he currently leads Xylem’s regions, business segments and the Company’s global innovation, technology, product management, IT, integrated supply chain, and digital functions. Prior to joining Xylem, Mr. Pine amassed more than 25 years of experience in general management, sales, marketing, digital and product management, including as President of Carrier Residential for United Technologies Corporation, Marketing and Product Management Lead for the Carrier Residential HVAC business unit, Head of Power Plant Sales Technology in Central Europe for Vestas Wind Systems, Director of Product Management and Marketing for Lennox International Inc., and sales and marketing leadership roles at Trane Residential & Light Commercial Systems.William Grogan has served since 2017 as Executive Vice President and Chief Financial Officer of IDEX Corporation (NYSE: IEX), a diversified manufacturer of highly engineered, mission-critical products for a wide range of markets. At IDEX, Mr. Grogan was responsible for a global financial strategy that supported more than doubling the Company’s market cap to $17 billion during his tenure as CFO. He previously held finance leadership roles at Walgreens, Highway Technologies, Crane, and Sears. Mr. Grogan earned a Bachelor’s Degree in Finance from Merrimack College and an MBA from Kellogg Graduate School of Management at Northwestern University. He is a member of the Board of Directors and the Audit Committee for Crane NXT (NYSE: CXT).About XylemXylem (XYL) is a leading global water technology company committed to solving the world’s critical water, wastewater, and water-related challenges through technology, innovation, and expertise. Our more than 22,000 diverse employees delivered combined pro forma revenue of $7.3 billion in 2022. We are creating a more sustainable world by enabling our customers to optimize water and resource management and helping communities in more than 150 countries become water-secure. Join us in the effort at www.xylem.com and Let’s Solve Water.Forward-Looking StatementsThis press release contains certain statements that may be deemed "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. Generally, the words "anticipate," "estimate," "expect," "project," "intend," "plan," "contemplate," "predict," "forecast," "likely," "believe," "target," "will," "could," "would," "should," "potential," "may" and similar expressions or their negative, may, but are not necessary to, identify forward-looking statements. By their nature, forward-looking statements address uncertain matters and include any statements that are not historical, such as statements about our strategy, financial plans, outlook, objectives, plans, intentions or goals (including those related to our social, environmental and other sustainability goals); or address possible or future results of operations or financial performance, including statements relating to orders, revenues, operating margins and earnings per share growth. Such statements are not guarantees of future performance. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. The forward-looking statements included in this press release are also subject to a number of material risks and uncertainties set forth under "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, and in subsequent filings we make with the Securities and Exchange Commission. All forward-looking statements made herein are based on information currently available to us as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905069092/en/ContactsMediaHouston Spencer +1 (914) [email protected] van der Berg +1 (914) [email protected]

Business Wire

Xylem Announces CEO Succession Aligned with Growth Strategy and Next Steps in Value Creation

https://finance.yahoo.com/news/xylem-announces-ceo-succession-aligned-105500724.html

c977410d-8f81-3095-b4d1-f51dc53d9a4d

XYL

Xylem Inc (NYSE:XYL) has been experiencing a slight downturn, with a daily loss of 4.84% and a 3-month loss of 6.7%. Despite this, the company posted an Earnings Per Share (EPS) of 1.88. This raises the question: is Xylem (NYSE:XYL) modestly undervalued? In this article, we will delve into the company's valuation, financial strength, profitability, and growth to provide a comprehensive analysis for potential investors.Company OverviewWarning! GuruFocus has detected 4 Warning Signs with XYL. Click here to check it out. XYL 30-Year Financial DataThe intrinsic value of XYLXylem, a global leader in water technology, offers a wide range of solutions, including the transport, treatment, testing, and efficient use of water for customers in the utility, industrial, commercial, and residential sectors. Spun off from ITT in 2011, Xylem has a presence in over 150 countries and employs 16,200. The company generated $5.5 billion in revenue and $672 million in adjusted operating income in 2022. With a current stock price of $97.61 per share, Xylem has a market cap of $23.50 billion.Unveiling Xylem's True Worth: Is It Really Priced Right? A Comprehensive GuideUnderstanding the GF ValueThe GF Value is a proprietary measure that estimates the current intrinsic value of a stock. It is based on historical trading multiples, an adjustment factor from GuruFocus based on the company's past performance and growth, and future business performance estimates. The GF Value Line on our summary page provides an overview of the fair value at which the stock should be traded.Based on this method, Xylem (NYSE:XYL) appears to be modestly undervalued. If the stock price is significantly above the GF Value Line, the stock may be overvalued, predicting poor future returns. Conversely, if the stock price is significantly below the GF Value Line, the stock may be undervalued, suggesting high future returns. Given Xylem's current price and market cap, the stock appears to be modestly undervalued, implying that the long-term return of its stock is likely to be higher than its business growth.Story continuesUnveiling Xylem's True Worth: Is It Really Priced Right? A Comprehensive GuideLink: These companies may deliver higher future returns at reduced risk.Financial StrengthInvesting in companies with low financial strength could result in permanent capital loss. A company's financial strength can be initially assessed by looking at the cash-to-debt ratio and interest coverage. Xylem has a cash-to-debt ratio of 0.27, which ranks worse than 79.83% of 2791 companies in the Industrial Products industry. Based on this, GuruFocus ranks Xylem's financial strength as 7 out of 10, suggesting a fair balance sheet.Unveiling Xylem's True Worth: Is It Really Priced Right? A Comprehensive GuideProfitability and GrowthInvesting in profitable companies carries less risk, especially if the companies have demonstrated consistent profitability over the long term. Xylem has been profitable 10 years over the past 10 years. During the past 12 months, the company had revenues of $6.10 billion and Earnings Per Share (EPS) of $1.88. Its operating margin of 11.11% is better than 71.51% of 2801 companies in the Industrial Products industry. Overall, GuruFocus ranks Xylem's profitability as fair.Growth is probably the most important factor in the valuation 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 Xylem is 1.7%, which ranks worse than 67.34% of 2670 companies in the Industrial Products industry. The 3-year average EBITDA growth rate is -0.6%, which ranks worse than 69.22% of 2362 companies in the Industrial Products industry.ROIC vs WACCOne can also evaluate a company's profitability by comparing its return on invested capital (ROIC) to its weighted average cost of capital (WACC). 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. If the return on invested capital exceeds the weighted average cost of capital, the company is likely creating value for its shareholders. During the past 12 months, Xylem's ROIC is 7.14 while its WACC came in at 9.66.Unveiling Xylem's True Worth: Is It Really Priced Right? A Comprehensive GuideConclusionIn conclusion, the stock of Xylem (NYSE:XYL) appears to be modestly undervalued. The company's financial condition is fair and its profitability is fair. Its growth ranks worse than 69.22% of 2362 companies in the Industrial Products industry. To learn more about Xylem stock, you can check out its 30-Year Financials here.To find out the high-quality companies that may deliver above-average returns, please check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Unveiling Xylem's True Worth: Is It Really Priced Right? A Comprehensive Guide

https://finance.yahoo.com/news/unveiling-xylems-true-worth-really-153637849.html

9612856f-d356-3590-8190-598d3211a249

YEXT

C3.ai withdraws its forecast that it would reach profitability on an adjusted basis by the end of fiscal 2024, ChargePoint stock tumbles after losses widen, Apple shares slump for a second day, and UiPath surges after adjusted earnings beat Wall Street expectations.Continue reading

Barrons.com

These Stocks Are Moving the Most Today: C3.ai, ChargePoint, Apple, UiPath, Toro, BlackBerry, Yext, and More

https://finance.yahoo.com/m/14a5ad78-b5fd-350d-addc-ec6173adf9e8/these-stocks-are-moving-the.html

14a5ad78-b5fd-350d-addc-ec6173adf9e8

YEXT

The search technology company is falling despite delivering a modest quarterly beat and raise. Here's what investors need to know.Continue reading

Motley Fool

Why Yext Stock Plunged Today

https://finance.yahoo.com/m/41e81288-4e10-3edb-9c09-e8a76246f21e/why-yext-stock-plunged-today.html

41e81288-4e10-3edb-9c09-e8a76246f21e

YORW

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.York Water in FocusHeadquartered in York, York Water (YORW) is a Utilities stock that has seen a price change of -10.23% so far this year. The purifying and distribution company is currently shelling out a dividend of $0.2 per share, with a dividend yield of 2.01%. This compares to the Utility - Water Supply industry's yield of 2.02% and the S&P 500's yield of 1.63%.In terms of dividend growth, the company's current annualized dividend of $0.81 is up 2.9% from last year. In the past five-year period, York Water has increased its dividend 5 times on a year-over-year basis for an average annual increase of 4.03%. Future dividend growth will depend on earnings growth as well as payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Right now, York Water's payout ratio is 56%, which means it paid out 56% of its trailing 12-month EPS as dividend.Earnings growth looks solid for YORW for this fiscal year. The Zacks Consensus Estimate for 2023 is $1.53 per share, which represents a year-over-year growth rate of 9.29%.Bottom LineInvestors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. It's important to keep in mind that not all companies provide a quarterly payout.Story continuesFor instance, it's a rare occurrence when a tech start-up or big growth business offers their shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. That said, they can take comfort from the fact that YORW is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThe York Water Company (YORW) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why York Water (YORW) is a Great Dividend Stock Right Now

https://finance.yahoo.com/news/why-york-water-yorw-great-154503761.html

c4b58669-a838-39d9-82bc-d3839a65e0f1

YORW

A reasonably small amount of money can go a long way when it's invested in game-changing businesses.Continue reading

Motley Fool

3 No-Brainer Stocks to Buy With $300 Right Now

https://finance.yahoo.com/m/2cbc43c5-adbd-3d47-a420-e8ccd7a31767/3-no-brainer-stocks-to-buy.html

2cbc43c5-adbd-3d47-a420-e8ccd7a31767

YUM

In this article, we shall discuss the 20 most addictive foods according to science. To skip our detailed analysis of food addiction and its impact on the fast food and weight loss industries, go directly and see 5 Most Addictive Foods According to Science. According to a poll conducted by the University of Michigan, one in eight Americans over 50 struggle with food addiction. Therefore, it does not come as a surprise that the United States tops our list of 25 Countries With The Highest Rates of Obesity. According to the World Health Organization, obesity remains one of the most significant challenges to public health in the 21st century. A report published by pharmaceutical giant Novo Nordisk (NYSE:NVO) ascertains that the global economic impact of the obesity epidemic is likely to double by 2035 to $4.27 trillion from 2020 levels as prevalence of the condition continues to skyrocket to alarming levels.  Food Addiction and Fast Food: An In-Depth LookBut why do processed foods pose such a grave threat to public health? Despite rising obesity levels, why do people find it difficult to quit consuming unhealthy food? Here is what Dr. Ashley Gearhardt, an associate professor of psychology at the University of Michigan, had to say about the correlation between rising obesity rates and food addiction:"Evidence is growing that highly processed foods are capable of triggering addictive processes akin to addictive drugs like tobacco. In fact, addictive drugs and highly processed foods are created using very similar processes. For example, humans refine and process a naturally occurring substance (like a tobacco leaf) and process it into a product (like cigarettes) that has unnaturally high levels of a rewarding substance (like nicotine) and then add scores of additives (like ammonia and menthol) to further enhance it. These addictive drugs hijack the same reward centers of the brain that are so powerfully activated by highly processed foods. In fact, highly processed foods and addictive drugs are often consumed for the same reason—to experience a sense of pleasure and to reduce negative emotions. Whether it is a highly processed food or a drug, a substance can become so highly rewarding that it can trigger compulsive behavior (i.e., the person can’t stop even if they really want to). This is good news for industries that profit from selling these substances, but bad news for the rest of us."Story continuesIn a June 2023 article, the Guardian traced the genesis of addictive foods. The article posited that "ultra-processed foods" are the source of the rampant food addiction seen across the United States today. In the 1980s, food companies started to engineer a new classification of foods called "ultra-processed foods" at a mass scale. These foods tend to contain exorbitant amounts of sugar, salt, fat, artificial food color, or preservatives - substances that aren't exactly food so much as "extracted from foods", like hydrogenated fats, bulking agents, and starches. This formula was later co-opted by massive fast food chains like McDonald's Corporation (NYSE:MCD), Domino's Pizza Inc. (NYSE:DPZ) and Yum! Brands (NYSE:YUM). In 2009, Brazilian researcher Carlos Monteiro published a paper in which he concluded that "ultra-processed foods" are intentionally and specifically engineered to be "edible, palatable, and habit-forming". According to Monteiro, added usage of salt, sugar, fat, and preservatives in addictive foods by fast food conglomerates like McDonalds (NYSE:MCD), Domino's (NYSE:DPZ) and Yum! Brands (NYSE:YUM) stimulate the release of dopamine. It signals to the brain that one is not eating as much as one actually is, leading to the obesity epidemic the United States struggles with today. To know more about the rising consumption of fast food around the world and the impact it is having on the global economy, check out our article on the Top 20 Countries With Highest Fast Food Consumption.The Rise of The Weight Loss IndustryAs food companies enhance the use of addictive ingredients in their portfolio thereby exacerbating the global obesity crisis, consumers are beginning to adopt a different perspective to wellness and weight loss, according to a survey by McKinsey and Company. For the modern consumer, weight loss is to be looked at through a much more "sophisticated lens", incorporating not only weight loss, nutrition and fitness but also physical and mental health wellbeing. The study surveyed roughly 7500 respondents across six major markets around the world to conclude that more than 79% of consumers believe weight loss and wellness to be important, and 42% consider it to be a foremost priority.As pointed out in our article "11 Best Weight Loss Stocks to Invest In", consumer interest and purchasing power remains on the upsurge and is beginning to present numerous opportunities for weight loss companies. According to McKinsey, the global wellness market is worth more than $1.5 trillion, with an annual growth rate of up to 10 percent. Post the COVID-19 crisis and with conversations around food addiction making it into the mainstream, spending on personal wellness is on a strong rebound. With its flagship anti-obesity drug Wegovy, Novo Nordisk (NYSE:NVO) is a major player in the weight loss market. Other prominent weight loss stocks are Medifast Inc. (NYSE:MED) and Eli Lilly and Company (NYSE:LLY). However, McKinsey also points out that due to this rebound, the weight loss market is becoming increasingly competitive, creating the need for companies to be incredibly strategic about how and where they create points of competition.As the food industry continues to double down on many of the addictive ingredients that go into the products which made our list of the most addictive foods according to science, hedge funds are diverting major investments into health and pharmaceutical stocks like Novo Nordisk (NYSE:NVO), Medifast Inc. (NYSE:MED), and Eli Lilly and Company (NYSE:LLY).Our MethodologyTo create our list of the 20 most addictive foods according to science, we relied on a widescale study conducted by the University of Michigan. The survey is one of the most extensive studies ever conducted on food addiction and has more than 400 citations. The researchers studied addiction-like eating habits of more than 520 participants. Each participant was provided with a list of 35 foods, both processed and unprocessed. The respondents used the Yale Food Addiction Scale (YFAS) as a point of reference. The YFAS measures addiction-like eating of palatable foods based on the eleven primary diagnostic criteria of substance dependence in the fifth revision of the Diagnostic and Statistical Manual of Mental Disorders (DSM-V).With the YFAS as a point of reference, each respondent was then asked to rate a variety of foods on a scale of 1 (not at all addictive) to 7 (extremely addictive). After every respondent had rated each type of food, the resultant scores of were then averaged out to create an individual score for each entry. The foods were then ranked based on the average score they obtained, from lowest to highest.In this vein, here is our list of the 20 most addictive foods according to science.Most Addictive Foods According to SciencePhoto by Nathan Dumlao on UnsplashMost Addictive Foods According to Science20. EggsAverage Score: 2.18One of the most versatile foods to make and consume, eggs are a breakfast staple across the world. Due to the extensive variety in which eggs can be prepared and eaten, they make our list of the 20 most addictive foods according to science.19. NutsAverage Score: 2.47Nuts contain a lot of vegetable omega 6-fatty acids. That, coupled with the unique combination of flavors and textures that many people find appealing, contribute to the "munching" behavior which is commonly attributed to nuts.18. MuffinsAverage Score: 2.50Muffins are quaint and colorful pieces of cake in a cup-shaped foil and are typically iced. Although they seem harmless, research has shown that the butter in the fluffy sponges and the excessive amount of sugar in the icing ensure a habitual consumption of muffins by the consumer.17. SteaksAverage Score: 2.54Steaks, which are thick cuts of meat that are usually grilled or fried, are an American culinary favorite. They are usually prepared  in domestic and professional kitchens and are often a household offering in a menu. Steaks may appear in small amounts in an hors d'oeuvre, in an entrée dish or, more usually, in a significant amount as the main course.16. Gummy CandiesAverage Score: 2.57Popularly known as "gummies", gummy candy are a broad category of gelatin based chewable candy. They are available in a diverse variety of shapes, flavors, and sizes and contain exorbitant amounts of sugar which make them incredibly addictive. They are one of the most widely consumed types of confectionary and their popularity among children ranks them on our list of the 20 most addictive foods according to science.15. Breakfast CerealsAverage Score: 2.59Perhaps one of the most surprising entries on this list, respondents highlighted breakfast cereals to be incredibly addicting. This is probably due to the added usage of sugar and salt which are often used in processed foods to make people crave them more.14. PopcornAverage Score: 2.64Whether it be because of the addition of strong aroma chemicals or the added usage of addictive ingredients like salt and butter, developing excessive consumption patterns with respect to popcorn is an incredibly common occurrence. As popcorn becomes synonymous with movies and sleepovers, it is fast emerging as one of the most widely consumed snacks in the United States.13. RollsAverage Score: 2.73One of the few non-processed foods to make our list of the 20 most addictive foods according to science, a roll is a round or oblong individual loaf of bread usually served as a meal accompaniment in American English and British traditions. They can be eaten whole, or can be cut and filled. Bread rolls are increasingly common in Eastern, Northern, and Western Europe.12. Fried ChickenAverage Score: 2.97A tradition dating back to the European Middle Ages, deep fried chicken is a dish consisting of chicken pieces that have been coated with flour and deep-fried. It is one of the most popular fast foods, with Yum! Brands (NYSE:YUM) and McDonald's (NYSE:MCD) cementing their place as two of the biggest producers of the dish.11. BaconAverage Score: 3.03According to a study by the National Institute of Health, bacon is one of the most addictive foods primarily due to its distinctive scent, its nostalgic value, and the exorbitant amount of salt and fat it contains.10. CheeseAverage Score: 3.22Cheese is one of the most popular dairy products in the world, used cross-culturally in an incredibly diverse variety of cuisines. Surveys show that on average, Americans consume more than eleven pounds of cheese per person per year as of 2018. One of the primary reasons for this is the presence of the protein casein which can cross the blood-brain barrier and attach on dopamine receptors in the brain, causing addiction-like symptoms. Fast food companies like McDonald's (NYSE:MCD), Yum! Brands (NYSE:YUM) and Domino's (NYSE:DPZ) use large amounts of cheese in their product portfolio.9. CakesAverage Score: 3.26Due to excessive amounts of sugar, desserts like cake cause the brain to release endorphins such as serotonin. These hormones tend to make one feel happy, calm, and cheerful, replicating the same effects certain drugs have on the brain. Hence, cakes make our list of the 20 most addictive foods according to science.8. SodasAverage Score: 3.29Like cake, sodas also contain abnormally large quantities of sugar. Additionally though, according to a study by Ohio State University, carbonation also makes sodas incredibly addictive. The bubbles tend to add a minute amount of acidity, which when coupled with excessive caffeine, intensifies feelings of euphoria in the consumer.7. CheeseburgersAverage Score: 3.51A study by the University of Wisconsin posited that cheeseburgers can be just as addictive as cigarettes and on occasion, even hard drugs. Due to high quantities of fat and carbohydrates, cheeseburgers can alter brain biochemistry in the same way as certain powerful opiates such as morphine.6. French friesAverage Score: 3.60French fries are part of a select group of foods that come under the category of "hyperpalatable foods". Due to an excessive amount of salt, fat, and carbohydrate, French fries stimulate the reward center of the brain to induce constant craving within the consumer. Fast food giants like McDonald's (NYSE:MCD) and Yum! Brands (NYSE:YUM) coat fries in dextrose, a form of sugar to create feelings of euphoria and happiness. Click to continue reading and see 5 Most Addictive Foods According to Science.   Suggested Articles:20 Most Sexist and Misogynistic Countries in the World60 Highest Rated Beers in America20 Countries with Highest Rates of Hair Loss Disclosure: None. 20 Most Addictive Foods According to Science is originally published on Insider Monkey.

Insider Monkey

20 Most Addictive Foods According to Science

https://finance.yahoo.com/news/20-most-addictive-foods-according-105056970.html

d4ad6f73-e40e-3ae0-b20d-c3f1922bd6c5

YUM

The finger lickin' good deal is available starting Sept. 10 for a limited time onlyLOUISVILLE, Ky., Sept. 7, 2023 /PRNewswire/ -- Just in time for football season, Kentucky Fried Chicken® is launching new Hot & Spicy Wings at an unbeatable price – get 8 for just $4.99 beginning Sept. 10 for a limited time only.* While others have wings for football season, none offer finger lickin' good heat and delicious taste for this value.KFC introduces new Hot & Spicy Wings – get 8 for just $4.99 beginning Sept. 10 for a limited time only, at participating locations (tax, tips and fees extra). The new KFC Hot & Spicy Wings are spicy marinated and double hand-breaded in KFC's signature Extra Crispy™ breading, creating the perfect amount of spice with each satisfying crunch.The new KFC Hot & Spicy Wings are spicy marinated and double hand-breaded in KFC's signature Extra Crispy™ breading, creating the perfect amount of spice with each satisfying crunch."We're coming in HOT (and spicy) this football season with a truly unmatched deal," said Nick Chavez, CMO, KFC U.S. "Bench the other players. Why get 6 wings for $5.99 when you can start our 8 pc. Hot & Spicy Wings instead for just $4.99?"KFC's signature spicy flavor is an MVP in KFC markets worldwide, and now the globally beloved flavor has made its way to U.S. restaurants with KFC's new Hot & Spicy Wings. While the new wings are packed with flavor, the spice isn't so intense that it will cause a penalty – it balances heat with delicious taste.To sweeten the already great deal, fried chicken fans can make Thursday nights, 'Kentucky Fried Chicken Night' with FREE DELIVERY on any orders on KFC.com and the KFC app on Thursdays, starting today.** KFC customers can also use Quick Pick Up to order the new Hot & Spicy Wings and other KFC favorites ahead of time and pick up their order on KFC's dedicated Quick Pick-Up shelf.The new KFC Hot & Spicy Wings are a favorite of longtime KFC fan and Pro Football Hall of Famer Deion Sanders and his family, who call them "legendary" in new video content.This season KFC has also partnered with Amazon Prime Video and Twitch to unveil special content featuring sports journalist, Taylor Rooks and pro quarterback, Kirk Cousins. Fans can see this KFC content roll out across Amazon Prime Video and Twitch beginning September 14.Story continuesSpicy-marinated, hand-breaded – and 8 for just $4.99 – get fired up for KFC's NEW Hot & Spicy Wings!*Prices and participation may vary. Prices higher on third party ordering websites/apps. Tax, tips and fees extra. **Free delivery available only on KFC app and kfc.com at participating locations (see store locator) only on Thursdays from 9/7/2023. Not all products available at all locations. Delivery availability and hours may vary.  Not available for orders placed on third-party delivery platforms. Tax, tips and fees extra.About KFCKFC Corporation, based in Louisville, Ky., has been serving joy through its Original Recipe® fried chicken and finger lickin' good food since 1952. KFC's Original Recipe represents the unmistakable taste of KFC – the top-secret, unique blend of 11 herbs & spices that was perfected by Colonel Harland Sanders and is still used today. Beyond bucket meals and homestyle sides, KFC specialties include KFC Chicken Nuggets, the KFC Chicken Sandwich in spicy and classic, Extra Crispy™ Tenders, KFC Famous Bowls®, KFC Mac & Cheese Bowls, Pot Pies and Secret Recipe Fries. There are over 28,000 KFC restaurants in more than 150 countries and territories around the world. KFC Corporation is a subsidiary of Yum! Brands, Inc., Louisville, Ky. (NYSE: YUM). For more information, visit www.kfc.com. Follow KFC on Facebook, Twitter, Instagram and TikTok.KFC Logo (PRNewsfoto/KFC)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/kfc-scores-a-touchdown-with-new-hot--spicy-wings--get-8-for-just-4-99--301920032.htmlSOURCE Kentucky Fried Chicken

PR Newswire

KFC SCORES A TOUCHDOWN WITH NEW HOT & SPICY WINGS - GET 8 FOR JUST $4.99

https://finance.yahoo.com/news/kfc-scores-touchdown-hot-spicy-120000221.html

903385f4-aaa3-31c8-9cfc-915170340e43

ZBH

Zimmer Biomet Holdings Inc (NYSE:ZBH) recently saw a daily gain of 2.56%, although over the last three months, it has experienced a loss of 8.12%. The company's Earnings Per Share (EPS) is $2.41. These figures raise the question: Is the stock modestly undervalued? This article will provide a detailed valuation analysis to answer this question. Stay with us as we explore the intrinsic value of Zimmer Biomet Holdings.Company IntroductionWarning! GuruFocus has detected 4 Warning Signs with ZBH. Click here to check it out. ZBH 30-Year Financial DataThe intrinsic value of ZBHZimmer Biomet Holdings Inc (NYSE:ZBH) designs, manufactures, and markets orthopedic reconstructive implants, supplies, and surgical equipment for orthopedic surgery. The company has a leading share of the reconstructive market in the United States, Europe, and Japan, thanks to the acquisitions of Centerpulse in 2003 and Biomet in 2015. The company's stock is currently trading at $120.83 per share with a market cap of $25.20 billion. However, the GF Value, an estimation of fair value, is $138.41. This discrepancy suggests that the stock might be undervalued.Is Zimmer Biomet Holdings (ZBH) Modestly Undervalued? A Comprehensive AnalysisUnderstanding GF ValueThe GF Value is a proprietary measure of a stock's intrinsic value. It is computed based on historical trading multiples, a GuruFocus adjustment factor based on past performance and growth, and future business performance estimates. The GF Value Line provides an overview of the fair value at which the stock should ideally be traded. If the stock price is significantly above the GF Value Line, it is overvalued, and its future return is likely to be poor. Conversely, if it is significantly below the GF Value Line, its future return will likely be higher.Zimmer Biomet Holdings (NYSE:ZBH) appears to be modestly undervalued according to the GuruFocus Value calculation. This suggests that the long-term return of its stock is likely to be higher than its business growth.Is Zimmer Biomet Holdings (ZBH) Modestly Undervalued? A Comprehensive AnalysisAssessing Financial StrengthIt is vital to check the financial strength of a company before investing in its stock. Companies with poor financial strength pose a higher risk of permanent loss. The cash-to-debt ratio and interest coverage are great indicators of a company's financial strength. Zimmer Biomet Holdings has a cash-to-debt ratio of 0.05, which is worse than 95.69% of 835 companies in the Medical Devices & Instruments industry. The overall financial strength of Zimmer Biomet Holdings is 6 out of 10, indicating fair financial strength.Story continuesIs Zimmer Biomet Holdings (ZBH) Modestly Undervalued? A Comprehensive AnalysisProfitability and GrowthCompanies that have been consistently profitable over the long term offer less risk for investors. Zimmer Biomet Holdings has been profitable 8 over the past 10 years. Over the past twelve months, the company had a revenue of $7.20 billion and Earnings Per Share (EPS) of $2.41. Its operating margin is 18.69%, which ranks better than 82.08% of 826 companies in the Medical Devices & Instruments industry. Overall, the profitability of Zimmer Biomet Holdings is ranked 7 out of 10, indicating fair profitability.Growth is an essential factor in the valuation of a company. The 3-year average annual revenue growth rate of Zimmer Biomet Holdings is -5.1%, which ranks worse than 78.04% of 724 companies in the Medical Devices & Instruments industry. The 3-year average EBITDA growth rate is -11.8%, which ranks worse than 78.6% of 729 companies in the same industry.ROIC vs WACCComparing a company's return on invested capital to the weighted average cost of capital is another way to determine its profitability. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business. The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. When the ROIC is higher than the WACC, it implies the company is creating value for shareholders. For the past 12 months, Zimmer Biomet Holdings's return on invested capital is 5.05, and its cost of capital is 7.36.Is Zimmer Biomet Holdings (ZBH) Modestly Undervalued? A Comprehensive AnalysisConclusionIn conclusion, the stock of Zimmer Biomet Holdings (NYSE:ZBH) appears to be modestly undervalued. The company's financial condition is fair, and its profitability is fair. However, its growth ranks worse than 78.6% of 729 companies in the Medical Devices & Instruments industry. To learn more about Zimmer Biomet Holdings stock, you can check out its 30-Year Financials here.To find out the high-quality companies that may deliver above-average returns, please check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Is Zimmer Biomet Holdings (ZBH) Modestly Undervalued? A Comprehensive Analysis

https://finance.yahoo.com/news/zimmer-biomet-holdings-zbh-modestly-153323591.html

6d3e1784-d42a-3839-99f2-a7e44f0188b2

ZBH

Dexcom stock surged Wednesday after the company allayed concerns that popular weight-loss drugs would tamp on its diabetes devices.Continue reading

Investor's Business Daily

Dexcom Says It Won't Be The Biggest Loser In The Weight-Loss Battle — And Shares Soar

https://finance.yahoo.com/m/d839061c-678a-3882-86c9-63506c614eb5/dexcom-says-it-won-t-be-the.html

d839061c-678a-3882-86c9-63506c614eb5

ZBRA

Zebra Technologies Corp (NASDAQ:ZBRA) recently experienced a daily loss of -5.29 % and a 3-month loss of -5.51%. Its Earnings Per Share (EPS) stands at 12.51. The question that arises for investors is whether the stock is modestly undervalued, and if so, what this implies for its future performance. This article provides an in-depth valuation analysis of Zebra Technologies (NASDAQ:ZBRA), and encourages readers to delve deeper into the company's financials and market position.Company IntroductionWarning! GuruFocus has detected 5 Warning Signs with ZBRA. Click here to check it out. ZBRA 30-Year Financial DataThe intrinsic value of ZBRAZebra Technologies is a leading provider of automatic identification and data capture technology to enterprises. Its solutions include barcode printers and scanners, mobile computers, and workflow optimization software. The firm primarily serves the retail, transportation logistics, manufacturing, and healthcare markets, designing custom solutions to improve efficiency at its customers. The current stock price is $257.97, while the estimated fair value (GF Value) is $363.19. This discrepancy paves the way for a deeper exploration of the company's value.Unveiling Zebra Technologies (ZBRA)'s Value: Is It Really Priced Right? A Comprehensive GuideUnderstanding the GF ValueThe GF Value is a proprietary measure of a stock's intrinsic value, calculated based on historical trading multiples, a GuruFocus adjustment factor based on past performance and growth, and future business performance estimates. The GF Value Line provides an overview of the fair trading value of the stock. If the stock price is significantly above the GF Value Line, it is overvalued and its future return is likely to be poor. Conversely, if it is significantly below the GF Value Line, its future return will likely be higher.Zebra Technologies (NASDAQ:ZBRA) is currently considered modestly undervalued according to GuruFocus' valuation method. At its current price of $257.97 per share, Zebra Technologies stock is believed to be modestly undervalued, suggesting that the long-term return of its stock is likely to be higher than its business growth.Story continuesUnveiling Zebra Technologies (ZBRA)'s Value: Is It Really Priced Right? A Comprehensive GuideLink: These companies may deliver higher future returns at reduced risk.Financial StrengthCompanies with poor financial strength pose a high risk of permanent capital loss to investors. To avoid this, it is crucial to review a company's financial strength before deciding to purchase shares. Key indicators of financial strength include the cash-to-debt ratio and interest coverage. Zebra Technologies has a cash-to-debt ratio of 0.03, which ranks worse than 98.09% of 2351 companies in the Hardware industry. The overall financial strength of Zebra Technologies is 6 out of 10, indicating fair financial strength.Unveiling Zebra Technologies (ZBRA)'s Value: Is It Really Priced Right? A Comprehensive GuideProfitability and GrowthInvesting in profitable companies, especially those with consistent profitability over the long term, is generally less risky. Zebra Technologies has been profitable 8 over the past 10 years. Over the past twelve months, the company had a revenue of $5.50 billion and Earnings Per Share (EPS) of $12.51. Its operating margin is 16.76%, ranking better than 89.71% of 2420 companies in the Hardware industry. Overall, the profitability of Zebra Technologies is ranked 8 out of 10, indicating strong profitability.Growth is a crucial factor in the valuation of a company. Zebra Technologies's 3-year average revenue growth rate is better than 67.01% of 2313 companies in the Hardware industry. Zebra Technologies's 3-year average EBITDA growth rate is 11.2%, which ranks better than 50.88% of 1938 companies in the Hardware industry.ROIC vs WACCComparing a company's return on invested capital (ROIC) to its weighted cost of capital (WACC) is another way to evaluate its profitability. ROIC measures how well a company generates cash flow relative to the capital it has invested in its business. WACC is the rate that a company is expected to pay on average to all its security holders to finance its assets. If the ROIC is higher than the WACC, it indicates that the company is creating value for shareholders. Over the past 12 months, Zebra Technologies's ROIC was 11.67, while its WACC came in at 13.3.Unveiling Zebra Technologies (ZBRA)'s Value: Is It Really Priced Right? A Comprehensive GuideConclusionIn summary, Zebra Technologies (NASDAQ:ZBRA) is believed to be modestly undervalued. The company's financial condition is fair, and its profitability is strong. Its growth ranks better than 50.88% of 1938 companies in the Hardware industry. To learn more about Zebra Technologies stock, you can check out its 30-Year Financials here.To find out the high quality companies that may deliver above average returns, please check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Unveiling Zebra Technologies (ZBRA)'s Value: Is It Really Priced Right? A Comprehensive Guide

https://finance.yahoo.com/news/unveiling-zebra-technologies-zbra-value-163316610.html

4b8a5ba0-e1a5-354e-bf83-5f7089bf3f8f

ZBRA

Zebra Technologies Corporation ZBRA has failed to impress investors with its recent operational performance due to low demand across end markets and foreign currency headwinds. These factors are likely to impede ZBRA’s earnings in the quarters ahead.Let’s discuss the factors that might continue taking a toll on this Zacks Rank #5 (Strong Sell) company.Business Weakness: Weakness in the printing end market is affecting the Asset Intelligence and Tracking segment’s performance. Revenues from the unit declined 1.7% in the second quarter of 2023. Significant weakness in the mobile computing market has been weighing on the Enterprise Visibility & Mobility segment, revenues from which declined 24.6% year over year in the second quarter of 2023.Softness in End Markets: Low demand across end markets, particularly in the retail and e-commerce and transportation logistics markets, is taking a toll on Zebra Technologies’ operations. Also, reduced consumer spending, thanks to interest rate hikes, has been weighing on the company’s operations. Due to these headwinds, as well as significant reduction in demand in the mobile computing market, Zebra Technologies has provided a bleak forecast for the third quarter of 2023 and the full year. For the third quarter, ZBRA expects a 30-35% drop in net sales from the year-ago reported quarter. For 2023, the company expects net sales to decline 20-23% from the year-ago period.Forex Woes: Given its widespread presence in international markets, Zebra Technologies is exposed to unfavorable foreign currency movements. The foreign-currency translation had an adverse impact of 2.5% on sales in the first half of 2023. For the third quarter and the full year, the company expects a negative impact of 1 percentage point each from currency headwinds on its sales.Southbound Estimate Revisions: In the past 60 days, the Zacks Consensus Estimate for ZBRA’s 2023 earnings has been revised 30.3% downward.Price Performance: Shares of the company have declined 15.6% in the past year against the industry’s 5.1% increase.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked companies from the Industrial Products sector are discussed below:Caterpillar Inc. CAT presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.CAT’s earnings surprise in the last four quarters was 18.5%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 11.1% for 2023. The stock has gained 48.5% in the past year.Eaton Corporation plc ETN currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of approximately 3%, on average.In the past 60 days, estimates for Eaton’s earnings have increased 3.9% for 2023. The stock has soared 61.2% in the past year.A. O. Smith Corp. AOS presently carries a Zacks Rank of 2. AOS’ earnings surprise in the last four quarters was 10.5%, on average.In the past 60 days, estimates for A. O. Smith’s earnings have increased 2.9% for 2023. The stock has gained 27.4% in the past year.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportCaterpillar Inc. (CAT) : Free Stock Analysis ReportEaton Corporation, PLC (ETN) : Free Stock Analysis ReportA. O. Smith Corporation (AOS) : Free Stock Analysis ReportZebra Technologies Corporation (ZBRA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

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

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

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

ZEUS

Olympic Steel, Inc. (NASDAQ:ZEUS) stock is about to trade ex-dividend in 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. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. Meaning, you will need to purchase Olympic Steel's shares before the 31st of August to receive the dividend, which will be paid on the 15th of September.The company's upcoming dividend is US$0.13 a share, following on from the last 12 months, when the company distributed a total of US$0.50 per share to shareholders. Last year's total dividend payments show that Olympic Steel has a trailing yield of 1.0% on the current share price of $49.25. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! As a result, readers should always check whether Olympic Steel has been able to grow its dividends, or if the dividend might be cut. See our latest analysis for Olympic Steel If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Olympic Steel is paying out just 12% of its profit after tax, which is comfortably low and leaves plenty of breathing room in the case of adverse events. 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. What's good is that dividends were well covered by free cash flow, with the company paying out 2.5% of its cash flow last year.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.Story continuesClick 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. For this reason, we're glad to see Olympic Steel's earnings per share have risen 17% per annum over the last five years. The company has managed to grow earnings at a rapid rate, while reinvesting most of the profits within the business. This will make it easier to fund future growth efforts and we think this is an attractive combination - plus the dividend can always be increased later.Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Olympic Steel has delivered 20% dividend growth per year on average over the past 10 years. Both per-share earnings and dividends have both been growing rapidly in recent times, which is great to see.To Sum It UpIs Olympic Steel an attractive dividend stock, or better left on the shelf? Olympic Steel 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. It's a promising combination that should mark this company worthy of closer attention.On that note, you'll want to research what risks Olympic Steel is facing. Every company has risks, and we've spotted 2 warning signs for Olympic Steel you should know about.A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is It Smart To Buy Olympic Steel, Inc. (NASDAQ:ZEUS) Before It Goes Ex-Dividend?

https://finance.yahoo.com/news/smart-buy-olympic-steel-inc-121956089.html

ec16ee89-2a91-33bb-aa76-118d797c2531

ZEUS

CLEVELAND, September 05, 2023--(BUSINESS WIRE)--Olympic Steel Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced the promotion of Leah M. Kiley to the role of General Manager for the Company’s Minneapolis, Minnesota, plate processing facility.Ms. Kiley will lead day-to-day operations with primary profit and loss responsibility for the facility. She will report to Thomas J. Sacco, Vice President – Central Region."Leah has been instrumental in the commercial success and continued growth of our Midwest territories," said David J. Gea, President – Carbon Flat Rolled. "She is a driven leader focused on creating mutually beneficial customer partnerships that will support the continued safe, profitable and sustainable success of the organization."Ms. Kiley began her career with Olympic Steel in 2012. She has held roles of increasing commercial responsibility throughout her time with the Company, most recently serving as Regional Sales Manager.Ms. Kiley earned a bachelor’s degree in communications with minors in business and psychology from the University of Minnesota – Duluth.About Olympic SteelFounded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminum, tin plate, and metal-intensive branded products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricator of value-added parts and components. Headquartered in Cleveland, Ohio, Olympic Steel operates from more than 44 facilities in North America.For additional information, please visit the Company’s website at www.olysteel.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230831215407/en/ContactsMichelle Pearson-CaseyVice President Corporate Communications & Marketing(216) 292-3800

Business Wire

Olympic Steel Names Leah Kiley General Manager

https://finance.yahoo.com/news/olympic-steel-names-leah-kiley-120000790.html

8a2b072e-21d5-3aab-bee5-64155eab3cc4

ZI

Integration Allows ZoomInfo’s MarketingOS Customers to Expand Ad Reach, Scale Domestic Audiences, and Deliver Ads InternationallyVANCOUVER, Wash., September 07, 2023--(BUSINESS WIRE)--ZoomInfo (NASDAQ: ZI), the go-to-market platform to find, acquire, and grow customers, today announced a strategic integration with global advertising technology leader The Trade Desk. Leveraging The Trade Desk’s industry-leading platform, ZoomInfo has expanded its omnichannel ad network to access more premium publishers and deliver display, video, and audio ads internationally for the first time.MarketingOS, ZoomInfo’s account-based marketing (ABM) platform, is the ideal hub for executing business-to-business (B2B) advertising campaigns, offering dynamic intent market signals and entire categories of intent data that aren’t available anywhere else. It offers the industry’s first in-house B2B demand-side platform (DSP), focused on meeting the needs of companies doing true B2B account-based marketing, and optimized to match critical account context, not high-level insights.By directly integrating with top exchanges and supply-side platforms (SSPs), MarketingOS enables customers to buy ads through real-time auctions for placement in top-tier business publications. On the back end, ZoomInfo takes users’ customized audiences and campaign information and executes campaigns programmatically via The Trade Desk’s ad auction process.MarketingOS customers can now create advertising campaigns that leverage the power of The Trade Desk’s platform innovation, capitalizing on its access to the industry’s widest reach of available inventory. With improved domestic reach and the ability to target new international audiences, customers should see improved campaign performance and better ROI, leading to sustained business growth."MarketingOS is the optimal solution for companies looking to target advertising to B2B buyers in a data-driven way," ZoomInfo Chief Marketing Officer Bryan Law said. "Our industry-leading audience creation capabilities are built on the strongest data foundation in the market, and with The Trade Desk expanding our reach, we can now deliver the best of both worlds. This partnership opens the door for our customers to scale their audiences and unlock new avenues for customer acquisition."Story continues"In the world of B2B marketing, companies have tremendous opportunity to supercharge their advertising campaigns, bringing them closer to the right audience," said Ed Chater, SVP of Global Client Service at The Trade Desk. "ZoomInfo is leading the way for B2B and account-based marketing via their MarketingOS platform, and we’re excited to see our innovation power their capabilities that leverage data and decisioned media buying. This is even more exciting when thinking about the available inventory, including connected TV, that can be bought programmatically, which really can change the way B2B marketers plan and execute their campaigns."This integration is currently available to U.S. customers. For more information, please visit ZoomInfo’s audience-based advertising page.About ZoomInfoZoomInfo (NASDAQ: ZI) is the trusted go-to-market platform for businesses to find, acquire, and grow their customers. It delivers accurate, real-time data, insights, and technology to more than 35,000 companies worldwide. Businesses use ZoomInfo to increase efficiency, consolidate technology stacks, and align their sales and marketing teams — all in one platform. ZoomInfo is a recognized leader in data privacy, with industry-leading GDPR and CCPA compliance and numerous data security and privacy certifications. For more information about how ZoomInfo can help businesses grow their revenue at scale, please visit www.zoominfo.com.About The Trade DeskThe Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, Twitter, LinkedIn and YouTube.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907586183/en/ContactsMedia Rob MorseSenior Communications [email protected]

Business Wire

ZoomInfo Partners with The Trade Desk to Expand Digital Media Buying Capabilities

https://finance.yahoo.com/news/zoominfo-partners-trade-desk-expand-130000242.html

2ca1bf6b-749c-3101-b051-806c529bda22

ZI

ZoomInfo (ZI) is noticing accelerated growth in its non-software customers as the software space faces several headwinds. ZoomInfo Founder and CEO Henry Schuck sits down with Yahoo Finance Executive Editor Brian Sozzi at the Goldman Sachs Communacopia & Technology Conference to discuss the data company's growth outlook across segments"All the other industries, we see a really steady path to growth, growing north of 20 percent in those non-software companies," Schuck says. "We're continuing to just stay focused on driving customer success and customer value for our customers. Make sure that the software companies, the non-software companies, they're getting a lot of value out of our product and that we're investing in them seeing a real return on it."Schuck discusses AI's role in powering data collection as well as his leadership experiences at ZoomInfo Technologies.Click here for more of Yahoo Finance's coverage from the Goldman Sachs Communacopia tech conference.Video TranscriptBRIAN SOZZI: Yahoo Finance's still stationed at the Goldman Sachs tech and media conference. Lots of talk about AI, the future of media, software, hardware. But for right now, we're gonna talk some software with Henry Schuck, ZoomInfo CEO. Henry, weren't we just hear a year ago?HENRY SCHUCK: Was it?BRIAN SOZZI: Yeah, it feels like time flies in this crazy field. Talk to us about the state of your business. I mean, the market reaction was tough to that latest earnings report. But things seemed OK.HENRY SCHUCK: Yeah, look, I think when you look at our business, it's kind of a tale of two universes. On one side, we have 35% of our customer base is software companies. And software companies are in a tough cycle today. The other 65% of our business, nonsoftware, is growing 20% a year.And what we see in software is you have these companies that were kinda like going down the highway at 90 miles an hour. And then all of a sudden, they pulled the handbrake. And their whole business models changed. When I talked about one of our customers in their earnings call was this customer, they had 40 salespeople. They were growing 40%, 50% year over year.Story continuesAnd they said, look, we're gonna have hundreds salespeople over the next two years. We're gonna buy 100 licenses. And when they bought 100 licenses, their investors came in and said, look, you have a business growing 40% a year. It's losing money. Over the next quarter, we need that business to grow 10% and actually make 30%, 40% margins.That's a very different business. And so instead of having 100 sales employees, they went down to 20 sales employees. And you see that over and over and over again in the software space. Everywhere else in the business, all the other industries, we see a really steady path to growth. So growing north of 20% in those nonsoftware companies.We're continuing to just stay focused on driving customer success and customer value for our customers, make sure that the software companies, the nonsoftware companies are getting a lot of value out of our product and that we're investing in them seeing a real return on it.BRIAN SOZZI: How do you reignite that growth? Is it just sending a message out to the salespeople, get on the phone, sell these guys? What do you need to do?HENRY SCHUCK: I mean, look, we should be in the best place ever to be able to drive, go to market efficiency, and go to market growth. That's literally what we do. And what you see in our business too is on the new business side, we've been relatively strong business side, particularly relative to software or on the customer business.And so we feel really good about our ability to drive demand. We're seeing tremendous demand on the new business side. And so the sellers are out there they are calling.BRIAN SOZZI: No sales guy. Salespeople, sometimes they're trying to get the upsell. They're not trying to go out there and get the new business. I used to sell.HENRY SCHUCK: Yeah, we actually at ZoomInfo, we split the sides. And so you have reps who are focused on New business. And then you have reps focused on growing the business.BRIAN SOZZI: When does this loosen up? What is your visibility into 2024 in terms of that enterprise demand?HENRY SCHUCK: I think the thing that we're looking at most when we look across our customer base is what is the health of an account look like? How much are they using our platform?How often are they using it? How are they integrated into their multiple different systems? How are we talking back and forth between CRM, and marketing automation, and Snowflake, and Databricks, and to really assess the health of those accounts?And then we're looking at each of these accounts from an account management and customer success perspective. We're saying, hey, we're gonna treat this account that's red. They haven't fully provisioned, or they're not using it the same way. We're gonna go in there. And we're gonna triage that account. We're gonna make sure they know all the capabilities of ZoomInfo.We're gonna run another training, another onboarding to make sure that when they come up for renewal, when their cycle comes up, that they're getting tremendous value out of ZoomInfo. So we're looking at our business from a health of account perspective.When we think about the enterprise portion of our business, our million dollar cohort of customers, customers who spend over $1 million a year with us, that grew 40% year over year. And so our big deal motion is still running. And it's running really well. We continue to feel really good about that. And so again, there's these pockets of the business that have real headwinds.And so as software gets its feet underneath them again, I think what you're gonna see is companies are gonna sort of in a panic-driven motion cut a lot of spend and then realize after they've cut a lot of spend, they still have a requirement to grow. And when they see that, they're gonna invest in ZoomInfo. They're gonna invest in other platforms that really drive their revenue. And right now, I think they're just getting accustomed to this new operating environment.BRIAN SOZZI: What's your 2024 AI roadmap?HENRY SCHUCK: Yeah, so I think of AI and we think of AI in two ways. We think of it, one, as driving simplicity in the way that you build your product, the way that your customers use your product. And so we've seen a number of different places in the platform where something that would take 37 clicks can now be done in one or two or three because you power AI behind it.We're seeing our customers use natural language search. So instead of clicking you know chief information officers at health care companies in the United States with over 100 employees, they can just right, tell me the chief information officers I should be engaging with today.And the I can do all of that triangulation to make the user experience much more seamless. And so we're really investing behind that because obviously the more simple the user experience, the easier it is our customers-- for our customers to get value, the more value they get.The second way we're thinking about it is, today, there's this new-- I'm sure every single person who sat in this chair today, Brian, you got to ask about AI. And they are thinking about AI.BRIAN SOZZI: Every single person.HENRY SCHUCK: Every single person. And they're all CEOs or CFOs of large companies. And so what we're seeing happening is those CEOs are coming down into the go-to market organization. And they're saying, hey, what are you doing with AI? I want you to be using AI to engage with customers, to respond to customers, to write emails for salespeople.Of course, we should be using AI and LLMs and generative AI to drive our customer acquisition motion. So all of a sudden, those VPs of sales, VPs of sales ops, VPs of marketing are going, OK, how do I use gen AI? And the first place they go to get the data to put into the LLM, to put into the gen AI is their CRM data.And I've been sitting here and in a number of different places for the last two decades saying, the data in your CRM is not good enough to be leveraged by your salespeople. It's not good enough to be leveraged by your ops people, your business intelligence people because there's no infrastructural element that keeps data about companies and people. You got a promotion this last year. That doesn't just magically show up in somebody's CRM like it does--BRIAN SOZZI: Well, it should. I wish it did. Everybody should know-- everybody should know I got promoted.HENRY SCHUCK: I'm trying to make sure that when that promotion happens, it immediately reflects inside of your CRM through ZoomInfo. But to leverage generative AI and go to market, you need a solid data foundation. And you just can't do it unless that data on companies and people at those companies is accurate and up to date.And once you get that, you can do all sorts of great things with generative AI. And so what we're focused on is how do we power that data infrastructure so that companies can take advantage of gen AI in their go-to-market motion?BRIAN SOZZI: We have another minute, right? You good?HENRY SCHUCK: Sure.BRIAN SOZZI: I'm asking all founders here about their views on leadership. A founder is very special. They create a big business in many cases. Certainly you fit into that mold. How do you take your passion for the business and try to build it into your team? And do you get frustrated? Or how do you deal with it as a leader when you don't see that same passion in return?HENRY SCHUCK: Yeah, so it's a great question. Look, I think number one, I have to be visible all over the organization. And it's really easy. My days are very busy. I can walk in on a day and have 16 meetings 30 minutes after 30 minutes. And then nobody really gets to see me, except for once a quarter on an all hands or something like that.And so I'm really intentional about setting up round tables where I'm talking to new employees, existing employees, where they're getting an opportunity to ask me questions, where I'm being really transparent with them. And they can see my passion for the business, my passion for the future. They know I'm playing a long game here. And they get a feel for how I run the business.But the more that I can be in front of them, the more then I can be talking to them, walking the halls. We bought our employees back three days a week. I feel really great about seeing them in the office again. And they get a feel for the culture that I'm trying to build, that we're all building together. I think that's really important. They have to have face-to-face visibility with me, like some of my employees will talk to me less than you've talked to me over the last year. And that shouldn't be the case, right?BRIAN SOZZI: No, it shouldn't really should not be the case at all. Point well taken. All right, ZoomInfo founder and CEO Henry Schuck, always nice to see you. Thanks for always making time for Yahoo Finance. We really do appreciate it.HENRY SCHUCK: Of course, thank you, Brian.

Yahoo Finance Video

ZoomInfo's software, business enterprises are 'tale of two universes': CEO

https://finance.yahoo.com/video/zoominfos-software-business-enterprises-tale-180248068.html

2e904991-8e14-3cd7-a9dc-c81ff21d85d0

ZION

Long-established in the Banks industry, Zions Bancorp NA (NASDAQ:ZION) has enjoyed a stellar reputation. However, it has recently witnessed a decline of 3.04%, juxtaposed with a three-month change of 18.05%. Fresh insights from the GuruFocus Score Rating hint at potential headwinds. Notably, its diminished rankings in financial strength, growth, and valuation suggest that the company might not live up to its historical performance. Join us as we dive deep into these pivotal metrics to unravel the evolving narrative of Zions Bancorp NA.Warning! GuruFocus has detected 5 Warning Signs with TSL. Click here to check it out. ZION 30-Year Financial DataThe intrinsic value of ZIONUnraveling the Future of Zions Bancorp NA (ZION): A Deep Dive into Key MetricsDecoding the GF ScoreThe GF Score is a stock performance ranking system developed by GuruFocus using five aspects of valuation, which has been found to be closely correlated to the long-term performances of stocks by backtesting from 2006 to 2021. The stocks with a higher GF Score generally generate higher returns than those with a lower GF Score. Therefore, when picking stocks, investors should invest in companies with high GF Scores. The GF Score ranges from 0 to 100, with 100 as the highest rank.1. Financial strength rank: 5/102. Profitability rank: 6/103. Growth rank: 4/104. GF Value rank: 8/105. Momentum rank: 2/10Based on the above method, GuruFocus assigned Zions Bancorp NA the GF Score of 69 out of 100, which signals poor future outperformance potential.Understanding Zions Bancorp NA's BusinessZions Bancorporation is a regional U.S. bank with core operations that span 11 states. The bank is headquartered in Salt Lake City and does business primarily in the Western and Southwestern United States. Zions primarily focuses on providing banking services to small and midsize businesses, with the majority of its loans focused on commercial and commercial real estate lending. With a market cap of $5.19 billion and sales of $3.32 billion, the company's operating margin is currently not applicable.Story continuesUnraveling the Future of Zions Bancorp NA (ZION): A Deep Dive into Key MetricsFinancial Strength BreakdownZions Bancorp NA's financial strength indicators present some concerning insights about the company's balance sheet health. The financial strength rank of 5/10 suggests that the company may face challenges in maintaining its financial stability, which could impact its future performance.Growth ProspectsA lack of significant growth is another area where Zions Bancorp NA seems to falter, as evidenced by the company's low Growth rank of 4/10. This indicates that the company's growth potential may be limited, which could affect its ability to generate higher returns for investors.Lastly, Zions Bancorp NA's predictability rank is just one star out of five, adding to investor uncertainty regarding revenue and earnings consistency.Unraveling the Future of Zions Bancorp NA (ZION): A Deep Dive into Key MetricsConclusionGiven the company's financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights Zions Bancorp NA's potential for underperformance. While the company has a strong reputation in the banking industry, its current financial and growth indicators suggest that it may struggle to maintain its historical performance. Therefore, investors should exercise caution when considering this stock for their portfolio.GuruFocus Premium members can find more companies with strong GF Scores using the following screener link: GF Score ScreenThis article first appeared on GuruFocus.

GuruFocus.com

Unraveling the Future of Zions Bancorp NA (ZION): A Deep Dive into Key Metrics

https://finance.yahoo.com/news/unraveling-future-zions-bancorp-na-160619778.html

3ac9bfd5-330e-32af-a313-9c406eb94852

ZION

Key InsightsInstitutions' substantial holdings in Zions Bancorporation National Association implies that they have significant influence over the company's share priceA total of 13 investors have a majority stake in the company with 51% ownership Analyst forecasts along with ownership data serve to give a strong idea about prospects for a businessA look at the shareholders of Zions Bancorporation, National Association (NASDAQ:ZION) can tell us which group is most powerful. With 84% stake, institutions possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company.And so it follows that institutional investors was the group most impacted after the company's market cap fell to US$5.0b last week after a 7.1% drop in the share price. The recent loss, which adds to a one-year loss of 40% for stockholders, may not sit well with this group of investors. Institutions or "liquidity providers" control large sums of money and therefore, these types of investors usually have a lot of influence over stock price movements. Hence, if weakness in Zions Bancorporation National Association's share price continues, institutional investors may feel compelled to sell the stock, which might not be ideal for individual investors.In the chart below, we zoom in on the different ownership groups of Zions Bancorporation National Association. View our latest analysis for Zions Bancorporation National Association ownership-breakdownWhat Does The Institutional Ownership Tell Us About Zions Bancorporation National Association?Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.We can see that Zions Bancorporation National Association does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. 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 Zions Bancorporation National Association, (below). Of course, keep in mind that there are other factors to consider, too.Story continuesearnings-and-revenue-growthInvestors should note that institutions actually own more than half the company, so they can collectively wield significant power. Zions Bancorporation National Association is not owned by hedge funds. The company's largest shareholder is The Vanguard Group, Inc., with ownership of 14%. With 7.1% and 5.5% of the shares outstanding respectively, BlackRock, Inc. and State Street Global Advisors, Inc. are the second and third largest shareholders. In addition, we found that Harris Simmons, the CEO has 0.9% of the shares allocated to their name.After doing some more digging, we found that the top 13 have the combined ownership of 51% in the company, suggesting that no single shareholder has significant control over the company.While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.Insider Ownership Of Zions Bancorporation National AssociationThe definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.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.Shareholders would probably be interested to learn that insiders own shares in Zions Bancorporation, National Association. The insiders have a meaningful stake worth US$82m. Most would see this as a real positive. It is good to see this level of investment by insiders. You can check here to see if those insiders have been buying recently. General Public OwnershipThe general public-- including retail investors -- own 14% 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:While it is well worth considering the different groups that own a company, there are other factors that are even more important. Be aware that Zions Bancorporation National Association is showing 1 warning sign in our investment analysis , you should know about...But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Zions Bancorporation, National Association's (NASDAQ:ZION) latest 7.1% decline adds to one-year losses, institutional investors may consider drastic measures

https://finance.yahoo.com/news/zions-bancorporation-national-associations-nasdaq-131656541.html

19665683-c9e5-3bdd-a8bd-27fcf3234ac2

ZTS

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

Insider Monkey

Long-Term Returns of Scott Ferguson Activist Targets

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

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

ZTS

Key InsightsZoetis' estimated fair value is US$190 based on 2 Stage Free Cash Flow to EquityZoetis' US$186 share price indicates it is trading at similar levels as its fair value estimate The US$218 analyst price target for ZTS is 14% more than our estimate of fair valueToday we will run through one way of estimating the intrinsic value of Zoetis Inc. (NYSE:ZTS) by taking the expected future cash flows and discounting them to today's value. We will use the Discounted Cash Flow (DCF) model on this occasion. It may sound complicated, but actually it is quite simple!We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. View our latest analysis for Zoetis The ModelWe're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:10-year free cash flow (FCF) estimate2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$2.47bUS$2.69bUS$3.12bUS$3.42bUS$3.64bUS$3.84bUS$4.00bUS$4.15bUS$4.28bUS$4.41bGrowth Rate Estimate SourceAnalyst x5Analyst x6Analyst x4Analyst x4Est @ 6.59%Est @ 5.26%Est @ 4.32%Est @ 3.67%Est @ 3.22%Est @ 2.90% Present Value ($, Millions) Discounted @ 6.2% US$2.3kUS$2.4kUS$2.6kUS$2.7kUS$2.7kUS$2.7kUS$2.6kUS$2.6kUS$2.5kUS$2.4k("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$26bStory continuesThe second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.2%. We discount the terminal cash flows to today's value at a cost of equity of 6.2%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$4.4b× (1 + 2.2%) ÷ (6.2%– 2.2%) = US$113bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$113b÷ ( 1 + 6.2%)10= US$62bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$87b. In the final step we divide the equity value by the number of shares outstanding. Compared to the current share price of US$186, the company appears about fair value at a 2.2% 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. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Zoetis as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.2%, which is based on a levered beta of 0.800. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.SWOT Analysis for ZoetisStrengthDebt is well covered by earnings and cashflows.WeaknessEarnings growth over the past year underperformed the Pharmaceuticals industry.Dividend is low compared to the top 25% of dividend payers in the Pharmaceuticals 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:Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For Zoetis, we've compiled three further aspects you should consider:Risks: As an example, we've found 1 warning sign for Zoetis that you need to consider before investing here.Future Earnings: How does ZTS's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

A Look At The Intrinsic Value Of Zoetis Inc. (NYSE:ZTS)

https://finance.yahoo.com/news/look-intrinsic-value-zoetis-inc-110030189.html

e311d7a3-cf30-3139-a95f-d872b13a75ee

ZYNE

The centerpiece of Harmony Biosciences' deal is Zynerba's lead new drug candidate Zygel, a pharmaceutically produced transdermal cannabinoid therapy.Continue reading

American City Business Journals

Harmony Biosciences to acquire Main Line's Zynerba in up to $200M deal

https://finance.yahoo.com/m/6a00d95f-16b0-3853-b052-da5de14fef16/harmony-biosciences-to.html

6a00d95f-16b0-3853-b052-da5de14fef16

ZYNE

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.Given this risk, we thought we'd take a look at whether Zynerba Pharmaceuticals (NASDAQ:ZYNE) shareholders should be worried about its cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway. View our latest analysis for Zynerba Pharmaceuticals Does Zynerba Pharmaceuticals Have A Long Cash Runway?A company's cash runway is calculated by dividing its cash hoard by its cash burn. In March 2023, Zynerba Pharmaceuticals had US$44m in cash, and was debt-free. Looking at the last year, the company burnt through US$31m. That means it had a cash runway of around 17 months as of March 2023. Notably, analysts forecast that Zynerba Pharmaceuticals will break even (at a free cash flow level) in about 4 years. Essentially, that means the company will either reduce its cash burn, or else require more cash. The image below shows how its cash balance has been changing over the last few years.debt-equity-history-analysisHow Is Zynerba Pharmaceuticals' Cash Burn Changing Over Time?Zynerba Pharmaceuticals didn't record any revenue over the last year, indicating that it's an early stage company still developing its business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. With the cash burn rate up 25% in the last year, it seems that the company is ratcheting up investment in the business over time. However, the company's true cash runway will therefore be shorter than suggested above, if spending continues to increase. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.Story continuesCan Zynerba Pharmaceuticals Raise More Cash Easily?While Zynerba Pharmaceuticals does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn.Zynerba Pharmaceuticals' cash burn of US$31m is about 46% of its US$68m market capitalisation. That's high expenditure relative to the value of the entire company, so if it does have to issue shares to fund more growth, that could end up really hurting shareholders returns (through significant dilution).How Risky Is Zynerba Pharmaceuticals' Cash Burn Situation?Even though its cash burn relative to its market cap makes us a little nervous, we are compelled to mention that we thought Zynerba Pharmaceuticals' cash runway was relatively promising. One real positive is that analysts are forecasting that the company will reach breakeven. Looking at the factors mentioned in this short report, we do think that its cash burn is a bit risky, and it does make us slightly nervous about the stock. Taking a deeper dive, we've spotted 6 warning signs for Zynerba Pharmaceuticals you should be aware of, and 3 of them shouldn't be ignored.Of course Zynerba Pharmaceuticals may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.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 Zynerba Pharmaceuticals (NASDAQ:ZYNE) In A Good Position To Deliver On Growth Plans?

https://finance.yahoo.com/news/zynerba-pharmaceuticals-nasdaq-zyne-good-120835374.html

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