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CW

A month has gone by since the last earnings report for Curtiss-Wright (CW). Shares have added about 4.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Curtiss-Wright due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Curtiss-Wright's Q2 Earnings Beat, '23 Sales View UpCurtiss-Wright reported second-quarter 2023 adjusted earnings per share (EPS) of $2.15, which surpassed the Zacks Consensus Estimate of $1.97 by 9.1%.The company reported a GAAP EPS of $2.10, up from $1.83 in the year-ago quarter.Operational PerformanceIn the quarter under review, the company’s net sales of $704.4 million went up 15.6% year over year. Also, the top line surpassed the Zacks Consensus Estimate of $649 million by 8.6%.The company reported operating income of $112.8 million in the second quarter, soaring 15% year over year. The operating margin contracted 10 basis points (bps) to 16%.Curtiss-Wright’s total backlog at the end of the second quarter was $2.8 billion, up from $2.7 billion at the end of the first quarter.New orders of $842 million increased 8% year over year in the second quarter, driven by the strong demand for defense electronics, naval defense products and nuclear aftermarket products.Segmental PerformanceAerospace & Industrial: Sales in this segment improved 8.5% year over year to $226.3 million. The upside was driven by strong demand and higher OEM sales of sensors products and surface treatment services on narrowbody and widebody platforms, increased sales of industrial automation products and surface treatment services and favorable timing of sales for its actuation equipment supporting various programs.While the operating income increased 9.9% to $35.7 million, the operating margin expanded 20 bps to 15.8%.Story continuesDefense Electronics: Sales in this segment increased 32.2% year over year to $197.7 million. This rise was due to increased sales of avionics and flight test equipment on various domestic and international platforms and higher sales of tactical battlefield communications equipment. Also, increased sales of its embedded computing and flight test instrumentation equipment on various fighter jet programs contributed to this segment’s revenue growth.The operating income increased 76.5% to $43.2 million, while the operating margin increased 540 bps to 21.8%.Naval & Power: Sales in this segment increased 11.6% year over year to $280.4 million, driven by solid contributions from the arresting systems acquisition and strong demand from international customers. Moreover, higher revenues from Columbia-class and Virginia-class submarines, as well as strong growth in industrial valve sales in the process market and solid growth in commercial nuclear aftermarket revenues, contributed to this unit’s top-line growth.The unit’s operating income decreased 1% to $46.8 million. The operating margin fell 320 bps to 16.7%. This decrease was due to the unfavorable mix of products.Financial UpdateCW’s cash and cash equivalents as of Jun 30, 2023, were $158.7 million compared with $256.9 million as of Dec 31, 2022.The long-term debt was $1,176.1 million as of Jun 30, 2023, compared with $1,051.9 million as of Dec 31, 2022.The operating cash inflow totaled $19.4 million at the end of the second quarter of 2023 against cash outflow of $93.3 million in the prior-year period.The adjusted free cash flow at the end of the reported quarter was $6.7 million against free cash outflow of $89.5 million recorded a year ago.2023 GuidanceCurtiss-Wright increased its financial guidance for 2023. The company now expects to generate adjusted earnings in the band of $8.90-$9.15 compared with the earlier guidance of $8.65-$8.90. The Zacks Consensus Estimate for the company’s full-year earnings is pegged at $8.89 per share, which is lower than the CW’s guided range.Curtiss-Wright now expects sales in the range of $2,730-$2,790 million, up from the prior guidance of $2,655-$2,710 million. The Zacks Consensus Estimate for its full-year sales is pegged at $2.70 billion, lower than the company’s guided range.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates revision.VGM ScoresAt this time, Curtiss-Wright has an average Growth Score of C, 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 second quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Curtiss-Wright has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.Performance of an Industry PlayerCurtiss-Wright belongs to the Zacks Aerospace - Defense Equipment industry. Another stock from the same industry, Teledyne Technologies (TDY), has gained 9.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2023.Teledyne reported revenues of $1.42 billion in the last reported quarter, representing a year-over-year change of +5.1%. EPS of $4.67 for the same period compares with $4.43 a year ago.For the current quarter, Teledyne is expected to post earnings of $4.74 per share, indicating a change of +4.4% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.1% over the last 30 days.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Teledyne. Also, the stock has a VGM Score of C.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportCurtiss-Wright Corporation (CW) : Free Stock Analysis ReportTeledyne Technologies Incorporated (TDY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Curtiss-Wright (CW) Up 4.8% Since Last Earnings Report: Can It Continue?

https://finance.yahoo.com/news/curtiss-wright-cw-4-8-153151405.html

9783dd08-4a5d-352d-b1de-694907830340

CW

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.Investors looking to make a profit from stocks that are currently on the move may find our "Recent Price Strength" screen pretty useful. This predefined screen comes handy in spotting stocks that are on an uptrend backed by strength in their fundamentals, and trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.There are several stocks that passed through the screen and Curtiss-Wright (CW) is one of them. Here are the key reasons why this stock is a solid choice for "trend" investing.A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. CW is quite a good fit in this regard, gaining 17.9% over this period.However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 0.6% over the past four weeks ensures that the trend is still in place for the stock of this engineering firm.Moreover, CW is currently trading at 98.7% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.Looking at the fundamentals, the stock currently carries a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.Story continuesThe Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.So, the price trend in CW may not reverse anytime soon.In addition to CW, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today.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 reportCurtiss-Wright Corporation (CW) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why Momentum in Curtiss-Wright (CW) Should Keep going

https://finance.yahoo.com/news/heres-why-momentum-curtiss-wright-125006412.html

219fec74-9e09-3bf6-96e0-d0a20df1bc30

CWBR

CohBar, Inc.IFx-Hu2.0 demonstrated to have a promising safety profile at all 3 dose schedules tested5 of 7 (71%) of patients achieved durable systemic anti-tumor responses following IFx-Hu2.0 therapy and rechallenge with an immune checkpoint inhibitor (ICI) in patients who exhibited primary resistance to ICIsTranslational biomarker data underscores IFx-Hu2.0 mechanism; Demonstrates activation of systemic tumor-specific immune responsesData presented at the 2023 American Society of Clinical Oncology (ASCO) Annual MeetingTAMPA, Fa. and MENLO PARK, Calif., June 05, 2023 (GLOBE NEWSWIRE) -- Morphogenesis, Inc. (“Morphogenesis”), a privately-held Phase 2/3 clinical-stage biotechnology company developing novel personalized cancer vaccines and tumor microenvironment modulators to overcome primary and acquired resistance to current immunotherapies, and CohBar, Inc. (NASDAQ: CWBR) (“CohBar”), today announced positive initial results from an exploratory analysis of anti-tumor responses to rechallenge with an ICI following protocol directed IFx-Hu2.0 therapy among patients with advanced MCC or cSCC who exhibited primary resistance to ICIs.The abstract titled, “Phase 1b trial of IFx-Hu2.0, a novel personalized cancer vaccine, in checkpoint inhibitor resistant Merkel cell carcinoma and cutaneous squamous cell carcinoma,” was presented by Andrew Brohl, MD, H. Lee Moffitt Cancer Center and Research Institute in a poster presentation as part of the Melanoma/Skin Cancers – Advanced/Metastatic Diseases session held at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting, taking place June 2-6, 2023 in Chicago, IL.“While patients with advanced Merkel cell carcinoma and cutaneous Squamous cell carcinoma exhibit high response rates to immune checkpoint inhibitor therapy, the approximately 50% of patients who fail to respond have limited treatment options. We are particularly encouraged by the results in patients with advanced Merkel cell who exhibited primary resistance to ICIs, where 4 of 5 (80%) achieved long lasting, major objective anti-tumor responses on rechallenge with an ICI within the same checkpoint axis,” noted Dr. James Bianco, Chief Executive Officer of Morphogenesis. “The potential for IFx-Hu2.0 adjunctive therapy to pembrolizumab in the first line treatment of advanced MCC could overcome primary resistance, allowing higher response rates than pembrolizumab alone.”Story continuesIFx-Hu2.0 is Morphogenesis’ lead personalized cancer vaccine candidate that is designed to overcome primary resistance to checkpoint inhibitors. In a Phase 1 study in advanced melanoma, biomarker analyses demonstrated robust immune priming effects of IFx administration. The ongoing Phase 1b study evaluates IFx-Hu2.0 in a two-stage study design to assess safety and to examine the effects of repeated weekly dosing up to 3 weeks on the magnitude of the ensuing systemic immune response to determine the optimal dose and schedule for the company’s planned Phase 2/3 registration directed trial.As reported at ASCO, following completion of protocol directed therapy, 5 patients with advanced MCC and 2 patients with cSCC who, prior to study entry, failed anti-PD(L)1 therapy were re-treated with anti-PD(L)1 monotherapy: pembrolizumab (3) or avelumab (2) in MCC and cemiplimab (2) in cSCC. Four of 5 (80%) patients with advanced MCC and 1 of 2 (50%) patients with cSCC, or 5 of 7 total (71%), experienced objective anti-tumor responses to ICI rechallenge in this setting, with duration of response ongoing in 4 patients (7+, 8+, 9+, 20+ months) and one response lasting 23 months. All 4 patients with advanced MCC with post-protocol response to anti-PD(L1) therapy had previously experienced progression to this same drug class prior to treatment on protocol.Based on the positive preliminary results seen to-date, an additional 11 patients are planned for enrollment in the expansion stage of the Phase 1b study using the weekly x 3 dosing schedule. Additional exploratory/biomarker analyses are planned.For more information about the company’s ongoing Phase 1b IFx-Hu2.0 study, visit Clinicaltrials.gov and reference Identifier NCT04160065.Morphogenesis and CohBar recently announced that they have entered into a definitive merger agreement for an all-stock transaction to form a company combining expertise and resources to advance a late-stage oncology pipeline. The combined company will focus on advancing Morphogenesis’ two technologies that seek to overcome the major obstacles that limit the effectiveness of current immunotherapies in treating cancer. The combined company is expected to operate under the name “TuHURA Biosciences, Inc.” and to trade on The Nasdaq Capital Market (“Nasdaq”). The transaction is expected to close in the third quarter of 2023.About Immune Fx (IFx) Personalized Cancer Vaccines IFx-Hu2.0 administration involves a simple injection into the patient’s tumor of a proprietary gene that encodes for an immunogenic bacterial protein which is expressed on the surface of the tumor cell. Recognizing the bacterial protein as being foreign, the patient’s immune system is activated “ingesting” the tumor cell and educating the immune system to all of the patient’s tumor’s neoantigens resulting in the production of tumor specific antibodies and cytotoxic T cells. The presence of activated T cells overcomes resistance to checkpoint inhibitors allowing checkpoint released activated T cells to seek out and destroy the tumor.Additionally, Morphogenesis is advancing its CD22 targeted, mRNA vaccine (IFx-Hu3.0), toward IND-enabling studies in 2024 for intravenous or autologous whole cell administration for the treatment of B cell malignancies like diffuse large B-cell lymphoma (DLBCL).About Morphogenesis, Inc. Morphogenesis is a Phase 2/3 clinical-stage biotechnology company developing novel personalized cancer vaccines and tumor microenvironment modulators to overcome primary and acquired resistance to immunotherapies. The company’s lead personalized cancer vaccine candidate, IFx-Hu2.0, is designed to overcome primary resistance to checkpoint inhibitors. Morphogenesis is preparing to initiate a single randomized placebo-controlled Phase 2/3 registration trial of IFx-Hu2.0 administered as an adjunctive therapy to Keytruda® (pembrolizumab) in first line treatment for advanced Merkel Cell Carcinoma. In addition to its personalized cancer vaccines the company is also developing first in class bi-functional antibody drug conjugates (ADCs) designed to reprogram the tumor microenvironment by targeting a recently characterized Delta receptor on Myeloid Derived Suppressor Cells inhibiting their immunosuppressive capabilities while localizing checkpoint inhibitor(s) in the tumor microenvironment.For additional information, please visit www.morphogenesis-inc.com.About CohBarCohBar (NASDAQ: CWBR) is a clinical-stage biotechnology company leveraging the power of the mitochondria and the peptides encoded in its genome to develop potential breakthrough therapeutics targeting chronic and age-related diseases with limited to no treatment options.For additional company information, please visit www.cohbar.com and engage with us on LinkedIn.No Offer or Solicitation This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any proxy, consent, authorization, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of the U.S. Securities Act of 1933, as amended.Additional Information About the Proposed Transaction for Investors and StockholdersIn connection with the proposed transaction between CohBar and Morphogenesis (the “Proposed Transaction”), CohBar intends to file relevant materials with the U.S. Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 that will contain a proxy statement/prospectus of CohBar. This press release is not a substitute for the registration statement or for any other document that CohBar may file with the SEC in connection with the Proposed Transaction. COHBAR URGES INVESTORS AND STOCKHOLDERS TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT COHBAR, MORPHOGENESIS, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and stockholders will be able to obtain free copies of the proxy statement/prospectus and other documents filed by CohBar with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. In addition, investors and stockholders should note that CohBar communicates with investors and the public using its website (www.cohbar.com), including its investor relations website (https://cohbar.com/investors), where anyone will be able to obtain free copies of the proxy statement/prospectus and other documents filed by CohBar with the SEC, and stockholders are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the Proposed Transaction.Participants in the SolicitationCohBar, Morphogenesis and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from CohBar’s stockholders in connection with the Proposed Transaction. Information about CohBar’s directors and executive officers including a description of their interests in CohBar is included in CohBar’s most recent Annual Report on Form 10-K (as amended), including any information incorporated therein by reference, as filed with the SEC. Additional information regarding these persons and their interests in the transaction will be included in the proxy statement/prospectus relating to the Proposed Transaction when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.Forward-Looking StatementsThis news release contains forward-looking statements that are not historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and other future conditions. In some cases you can identify these statements by forward-looking words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “should,” “would,” “project,” “plan,” “expect,” “goal,” “seek,” “future,” “likely” or the negative or plural of these words or similar expressions. Examples of such forward-looking statements include but are not limited to express or implied statements regarding CohBar’s or Morphogenesis’ management team’s expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the Proposed Transaction and the expected effects, perceived benefits or opportunities and related timing with respect thereto, expectations regarding clinical trials and research and development programs, in particular with respect to Morphogenesis’ IFx-Hu2.0 product candidate, its IFx-Hu3.0 preclinical program, and its TME modulators development program, and any developments or results in connection therewith; the anticipated timing of the results from those studies and trials; and the expected trading of the combined company’s stock on the Nasdaq Capital Market. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in these forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include: the risk that the conditions to the closing or consummation of the Proposed Transaction are not satisfied, including the failure to obtain stockholder approval for the Proposed Transaction; the risk that the previously announced concurrent financing in connection with the Proposed Transaction is not completed in a timely manner or at all; uncertainties as to the timing of the consummation of the Proposed Transaction and the ability of each of CohBar and Morphogenesis to consummate the transactions contemplated by the Proposed Transaction; risks related to CohBar’s and Morphogenesis’ ability to correctly estimate their respective operating expenses and expenses associated with the Proposed Transaction, as applicable, as well as uncertainties regarding the impact any delay in the closing would have on the anticipated cash resources of the resulting combined company upon closing and other events and unanticipated spending and costs that could reduce the combined company’s cash resources; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Proposed Transaction by either company; the effect of the announcement or pendency of the Proposed Transaction on CohBar’s or Morphogenesis’ business relationships, operating results and business generally; costs related to the merger; the outcome of any legal proceedings that may be instituted against CohBar, Morphogenesis, or any of their respective directors or officers related to the merger agreement or the transactions contemplated thereby; the ability of CohBar or Morphogenesis to protect their respective intellectual property rights; competitive responses to the Proposed Transaction; unexpected costs, charges or expenses resulting from the Proposed Transaction; legislative, regulatory, political and economic developments; and additional risks described in the “Risk Factors” section of CohBar’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the SEC. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission and applicable Canadian authorities, which are available on our website, and at www.sec.gov or www.sedar.com.You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. The forward-looking statements and other information contained in this news release are made as of the date hereof and CohBar does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Nothing herein shall constitute an offer to sell or the solicitation of an offer to buy any securities.Investor Contacts: Morphogenesis, Inc.Jenene Thomas JTC Team, LLC [email protected], [email protected]

GlobeNewswire

Morphogenesis, Inc. and CohBar, Inc. Announce Positive Results from Phase 1b Trial of IFx-Hu2.0, a Novel Personalized Cancer Vaccine, in Checkpoint Inhibitor Resistant Advanced Merkel Cell Carcinoma (MCC) and Cutaneous Squamous Cell Carcinoma (cSCC)

https://finance.yahoo.com/news/morphogenesis-inc-cohbar-inc-announce-120500670.html

08c4adeb-1c60-30c8-8458-f17e57182f34

CWBR

CohBar, Inc.MENLO PARK, Calif., Aug. 14, 2023 (GLOBE NEWSWIRE) -- CohBar, Inc. (NASDAQ: CWBR) today reported its financial results and highlights for the second quarter ended June 30, 2023.Second Quarter 2023 Summary and Financial ResultsEntered into Definitive Merger Agreement with Morphogenesis: In May 2023, CohBar announced that the company entered into a definitive merger agreement with a privately held biotechnology company, Morphogenesis, Inc. (“Morphogenesis”), for an all-stock transaction to advance a late-stage oncology pipeline. The combined company is expected to operate under the name “TuHURA Biosciences, Inc.” and to trade on The Nasdaq Capital Market (“Nasdaq”). The transaction is expected to close in the fourth quarter of 2023. Cash, Cash Equivalents and Investments: The company had cash, cash equivalents and investments of $12.3 million as of June 30, 2023, compared to $15.7 million as of December 31, 2022. R&D Expenses: Research and development expenses were $0.2 million for the three months ended June 30, 2023, compared to $1.2 million in the prior year quarter. The lower research and development expenses are due to the suspension of our development activities.G&A Expenses: General and administrative expenses were $4.3 million for the three months ended June 30, 2023, compared to $1.6 million in the prior year quarter. The increase in general and administrative expenses was primarily due to costs related to the merger with Morphogenesis and compensation charges incurred related to the retention of our key executives. Net Loss: For the three months ended June 30, 2023, net loss, which included $0.3 million of non-cash expenses, was $4.3 million, or $1.49 per basic and diluted share. For the three months ended June 30, 2022, net loss, which included $0.5 million of non-cash expenses, was $2.7 million, or $0.94 per basic and diluted share.About CohBarCohBar (NASDAQ: CWBR) is a clinical-stage biotechnology company leveraging the power of the mitochondria and the peptides encoded in its genome to develop potential breakthrough therapeutics targeting chronic and age-related diseases with limited to no treatment options.Story continuesFor additional company information, please visit www.cohbar.com and engage with us on LinkedIn.Forward-Looking StatementsThis news release contains forward-looking statements that are not historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and other future conditions. In some cases you can identify these statements by forward-looking words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “should,” “would,” “project,” “plan,” “expect,” “goal,” “seek,” “future,” “likely” or the negative or plural of these words or similar expressions. Examples of such forward-looking statements include but are not limited to express or implied statements regarding CohBar’s or Morphogenesis’ management team’s expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the proposed merger and the expected effects, perceived benefits or opportunities and related timing with respect thereto, expectations regarding clinical trials and research and development programs; and the expected trading of the combined company’s stock on the Nasdaq Capital Market. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in these forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include: the risk that the conditions to the closing or consummation of the merger transaction with Morphogenesis (the “Proposed Transaction”) are not satisfied, including the failure to obtain stockholder approval for the Proposed Transaction; the risk that the previously announced concurrent financing in connection with the Proposed Transaction is not completed in a timely manner or at all; uncertainties as to the timing of the consummation of the Proposed Transaction and the ability of each of CohBar and Morphogenesis to consummate the transactions contemplated by the Proposed Transaction; risks related to CohBar’s and Morphogenesis’ ability to correctly estimate their respective operating expenses and expenses associated with the Proposed Transaction, as applicable, as well as uncertainties regarding the impact any delay in the closing would have on the anticipated cash resources of the resulting combined company upon closing and other events and unanticipated spending and costs that could reduce the combined company’s cash resources; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Proposed Transaction by either company; the effect of the announcement or pendency of the Proposed Transaction on CohBar’s or Morphogenesis’ business relationships, operating results and business generally; costs related to the merger; the outcome of any legal proceedings that may be instituted against CohBar, Morphogenesis, or any of their respective directors or officers related to the merger agreement or the transactions contemplated thereby; the ability of CohBar or Morphogenesis to protect their respective intellectual property rights; competitive responses to the Proposed Transaction; unexpected costs, charges or expenses resulting from the Proposed Transaction; legislative, regulatory, political and economic developments; and additional risks described in the “Risk Factors” section of CohBar’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the SEC. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission and applicable Canadian authorities, which are available on our website, and at www.sec.gov or www.sedar.com.You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. The forward-looking statements and other information contained in this news release are made as of the date hereof and CohBar does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Nothing herein shall constitute an offer to sell or the solicitation of an offer to buy any securities.Contact:[email protected], Inc.Balance Sheets       As of  June 30, 2023 December 31, 2022  (unaudited)       ASSETS    Current assets:    Cash and cash equivalents $6,192,343  $5,930,731 Investments  6,119,012   9,806,591 Vendor receivable  42,323   27,500 Prepaid expenses and other current assets  119,742   453,681 Total current assets  12,473,420   16,218,503 Property and equipment, net  1,728   65,509 Intangible assets, net  17,469   18,083 Other assets  13,476   63,572 Total assets $12,506,093  $16,365,667      LIABILITIES AND STOCKHOLDERS’ EQUITY    Current liabilities:    Accounts payable $1,375,742  $180,104 Accrued liabilities  498,377   327,868 Accrued payroll and other compensation  1,127,786   525,666 Total liabilities  3,001,905   1,033,638      Commitments and contingencies         Stockholders’ equity:    Preferred stock, $0.001 par value, Authorized 5,000,000 shares;    No shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively  -   - Common stock, $0.001 par value, Authorized 12,000,000 shares;    Issued and outstanding 2,906,926 shares as of June 30, 2023 and December 31, 2022, respectively  2,907   2,907 Additional paid-in capital  112,908,754   112,238,392 Accumulated deficit  (103,407,473)   (96,909,270) Total stockholders’ equity  9,504,188   15,332,029 Total liabilities and stockholders’ equity $12,506,093  $16,365,667      CohBar, Inc.Condensed Statements of Operations(unaudited)           For The Three Months Ended June 30, For The Six Months Ended June 30,  2023 2022 2023 2022         Revenues $-  $-  $-  $-          Operating expenses:        Research and development  178,862   1,186,900   1,199,601   2,693,208 General and administrative  4,254,487   1,556,785   5,533,760   3,301,703 Total operating expenses  4,433,349   2,743,685   6,733,361   5,994,911 Operating loss  (4,433,349)   (2,743,685)   (6,733,361)   (5,994,911)          Other income (expense):        Interest income  100,997   18,717   235,158   18,717 Interest expense  -   -   -   (1,824) Amortization of debt discount and offering costs  -   -   -   (8,723) Total other income  100,997   18,717   235,158   8,170 Net loss $(4,332,352)  $(2,724,968)  $(6,498,203)  $(5,986,741) Basic and diluted net loss per share $(1.49)  $(0.94)  $(2.24)  $(2.07) Weighted average common shares outstanding - basic and diluted  2,906,926   2,899,390   2,906,926   2,895,158           

GlobeNewswire

CohBar Reports Second Quarter 2023 Financial Results

https://finance.yahoo.com/news/cohbar-reports-second-quarter-2023-200100558.html

9816a7a7-940d-356f-a0ce-038327186e57

CXDO

PHOENIX, AZ / ACCESSWIRE / August 17, 2023 / Crexendo, Inc. (Nasdaq:CXDO) ("Crexendo" or the "Company"), an award-winning premier provider of cloud communication platform and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business, is scheduled to participate at the following financial conferences over the coming months:H.C. Wainwright 25th Annual Global Investment ConferenceDate: Monday-Wednesday, September 11-13, 2023Location: New York, NYLake Street Capital Markets 7th Annual Best Ideas Growth ConferenceDate: Thursday, September 14, 2023Location: New York, NYNorthland Capital Markets Institutional Investor Conference 2023Date: Tuesday, September 19, 2023Location: Minneapolis, MNLD Micro 16th Annual Main EventDate: Tuesday-Thursday, October 3-5, 2023Location: Los Angeles, CAFor additional information or to request a meeting, please contact your financial institution's representative or Crexendo's investor relations team at [email protected] or 949-574-3860.About CXDOCrexendo, Inc. is an award-winning premier provider of cloud communication platform and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business. Our solutions currently support approximately three and a half million end users globally.Company Contact:Crexendo, Inc.Doug GaylorPresident and Chief Operating [email protected] Relations Contact:Gateway Investor RelationsMatt Glover and Tom [email protected]: Crexendo, Inc.View source version on accesswire.com: https://www.accesswire.com/774969/Crexendo-Sets-Fall-2023-Financial-Conference-Schedule

ACCESSWIRE

Crexendo Sets Fall 2023 Financial Conference Schedule

https://finance.yahoo.com/news/crexendo-sets-fall-2023-financial-200000428.html

86b8ac92-35f2-3912-8fb2-641cbf5387de

CXDO

PHOENIX, AZ / ACCESSWIRE / September 6, 2023 / Crexendo, Inc. (Nasdaq:CXDO) ("Crexendo" or the "Company"), an award-winning premier provider of cloud communication platform and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business, today announced that the Company has begun participating on the Webull Corporate Communications Service Platform.The Crexendo page on the Webull Platform will help provide the Company with a direct line of communication to shareholders and followers by providing up-to-date notifications regarding corporate content such as Company news, earnings reports, investor presentations, and more."Joining Webull's platform is a further commitment to the advancement of transparency and inclusivity in our Company," said Crexendo CEO Jeff Korn. "Webull helps provide the means to enrich our corporate communication efforts, and we look forward to using the service as a way to strengthen our relationships with those who have a vested interest in our organization."About CrexendoCrexendo, Inc. is an award-winning premier provider of cloud communication platform and services, video collaboration and managed IT services designed to provide enterprise-class cloud solutions to any size business. Our solutions currently support over three million end users globally.About Webull FinancialWebull Financial LLC is a broker dealer registered with the Securities and Exchange Commission (SEC), is a member of the Financial Industry Regulatory Authority (FINRA), and the Securities Investor Protection Corporation (SIPC). The headquarters of Webull Financial LLC are located at 44 Wall Street, New York, NY, USA.Safe Harbor StatementThis press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "will" and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include information about Crexendo (i) having a commitment to the advancement of transparency and inclusivity in our company; (ii) Webull helping provide the means to enrich its corporate communication efforts and (iii) looking forward to using the service as a way to strengthen our relationships with those who have a vested interest in our organization.Story continuesFor a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the company's Form 10-K for the year ended December 31, 2022, and quarterly Form 10-Qs as filed with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the company undertakes no obligation to update such forward-looking statements, except as required by law.ContactsCompany Contact:Crexendo, Inc. Doug GaylorPresident and Chief Operating [email protected] Relations Contact:Gateway GroupMatt Glover and Tom [email protected]: Crexendo, Inc.View source version on accesswire.com: https://www.accesswire.com/780695/crexendo-joins-webull-corporate-communications-service-platform

ACCESSWIRE

Crexendo Joins Webull Corporate Communications Service Platform

https://finance.yahoo.com/news/crexendo-joins-webull-corporate-communications-130000856.html

a6bb3f3d-d0b8-3397-a1cd-658a98ab560f

CXH

BOSTON, August 25, 2023--(BUSINESS WIRE)--MFS Investment Management® (MFS®) announced today that the Board of Trustees (the "Board") of MFS Investment Grade Municipal Trust (the "Fund") (NYSE: CXH), a closed-end management investment company, authorized the Fund to conduct a cash tender offer (the "Tender Offer") for up to 10% of the Fund’s outstanding common shares (the "Shares") at a price per Share equal to 98% of the Fund’s net asset value ("NAV") per Share as of the close of regular trading on the New York Stock Exchange ("NYSE") on the date the Tender Offer expires. The Fund expects to commence the Tender Offer on or before October 6, 2023.As of July 31, 2023, the Fund had 9,110,245 shares of common stock outstanding, 488 shares of preferred stock outstanding, and total net assets of $77.5 million (not including preferred shares).The Board approved the recommendation of MFS, the Fund's investment adviser, to authorize the Tender Offer as part of an agreement with a large shareholder of the Fund, who had provided notice of its intention to propose two nominees of its own choosing for election as trustees to the Board and to ask shareholders to approve a non-binding proposal asking the Board to authorize a liquidity event for the Shares at the Fund’s 2023 annual meeting of shareholders. As part of this agreement, the large shareholder has withdrawn its proposals from consideration at the Fund’s 2023 annual meeting of shareholders and has undertaken certain obligations until the Fund’s 2025 annual meeting of shareholders. In addition, pursuant to the agreement, the Board has agreed to propose that shareholders of the Fund approve a proposal for a liquidity event at the Fund’s 2025 annual meeting of shareholders, unless the average trading discount of the Shares is equal to or less than 7.50% for the entirety of any consecutive 30 calendar day period between the expiration date of the Tender Offer and July 15, 2025.Story continuesAdditional terms and conditions of the Tender Offer will be set forth in the Fund's offering materials filed with the U.S. Securities and Exchange Commission (the "SEC"). If the number of Shares tendered exceeds the maximum amount of the Tender Offer, the Fund will purchase shares from tendering shareholders on a pro-rata basis. Accordingly, there is no assurance that the Fund will purchase all of a shareholder's tendered common shares. The Fund may determine not to accept shares tendered in the Tender Offer under various circumstances, as will be set forth in the offering materials.Further information about the Tender Offer will be announced by future press releases and the Fund’s offering materials. This announcement is for informational purposes only and is not a recommendation, an offer to purchase, or a solicitation of an offer to sell shares of the Fund and is not a prospectus, circular or representation intended for use in the purchase or sale of Fund shares. The Fund has not yet commenced the Tender Offer described in this release. A Tender Offer will be made only by an offer to purchase, a related letter of transmittal, and other documents that will be filed with the SEC as exhibits to a tender offer statement on Schedule TO and will be available free of charge at the SEC's website at www.sec.gov. Shareholders should read the applicable offer to purchase and tender offer statement on Schedule TO and related exhibits if and when those documents are filed and become available, as they will contain important information about the particular Tender Offer. The Fund will also make available, without charge, the offer to purchase and the letter of transmittal for the Tender Offer that is conducted.Cautionary Statement Regarding Forward-Looking StatementsThis press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within The Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue," or other similar words. Such forward-looking statements are based on the Fund's current plans and expectations, are not guarantees of future results or performance, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements are as of the date of this release only; the Fund undertakes no obligation to update or review any forward-looking statements. You are urged to carefully consider all such factors.About the FundThe Fund is a closed-end investment company product advised by MFS Investment Management. Closed end funds, unlike open end funds, are not continuously offered. Except pursuant to a Tender Offer, common shares of the Fund are only available for purchase/sale on the NYSE at the current market price. Shares may trade at a discount to NAV. Shares of the Fund are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Shares of the Fund involve investment risk, including possible loss of principal. For more complete information about the Fund, including risks, charges, and expenses, please see the Fund's annual and semi-annual shareholder reports or contact your financial adviser.About MFS Investment ManagementIn 1924, MFS launched the first U.S. open end mutual fund, opening the door to the markets for millions of everyday investors. Today, as a full-service global investment manager serving financial advisors, intermediaries, and institutional clients, MFS still serves a single purpose: to create long-term value for clients by allocating capital responsibly. That takes our powerful investment approach combining collective expertise, thoughtful risk management and long-term discipline. Supported by our culture of shared values and collaboration, our teams of diverse thinkers actively debate ideas and assess material risks to uncover what we believe are the best investment opportunities in the market. As of July 31, 2023, MFS manages $598.6 billion in assets on behalf of individual and institutional investors worldwide. Please visit mfs.com for more information.MFS Investment Management111 Huntington Ave., Boston, MA 0219955767.1View source version on businesswire.com: https://www.businesswire.com/news/home/20230825490241/en/ContactsMedia contacts: Dan Flaherty, +1 617.954.4256 For shareholders/advisors: Jeffrey Schwarz, +1 617.954.5872

Business Wire

MFS Investment Grade Municipal Trust Announces Tender Offer

https://finance.yahoo.com/news/mfs-investment-grade-municipal-trust-201500765.html

ae697c7b-c99c-36f2-82ff-12c84ae38c71

CXH

SADDLE BROOK, N.J., Aug. 28, 2023 (GLOBE NEWSWIRE) -- Special Opportunities Fund (NYSE: SPE), High Income Securities Fund (NYSE: PCF), and Bulldog Investors, LLP (“Bulldog”) (together, the “Shareholders”) are pleased to announce that they have reached a settlement agreement with two closed-end municipal bond funds managed by MFS Investment Management® (MFS®). The MFS-managed funds are MFS High Yield Municipal Trust (NYSE: CMU), and MFS Investment Grade Municipal Trust (NYSE: CXH).Pursuant to the settlement agreement, each MFS-managed fund will conduct a cash tender offer, which is expected to commence on or before October 6, 2023, for up to 10% of its outstanding common shares at a price per share equal to 98% of its net asset value (“NAV”) per share. In addition, the Board of each of the MFS-managed funds has agreed to propose that shareholders approve a proposal for a liquidity event at the 2025 annual meeting, unless the average trading discount of its shares is equal to or less than 7.50% for any consecutive 30 calendar day period between the expiration date of the tender offer and July 15, 2025.As part of the settlement agreement, the Shareholders have agreed to certain standstill conditions.Andrew Dakos, a managing partner of Bulldog, commented: “We are pleased to have reached this agreement with the Board, which is the result of ongoing constructive engagement with MFS.”About Bulldog InvestorsBulldog Investors LLP is an SEC-registered investment adviser that manages Special Opportunities Fund, Inc., a registered closed-end investment company, and separately managed accounts. High Income Securities Fund is an internally managed registered closed-end investment company.Contact: InvestorComJohn Glenn Grau, (203) 972-9300 ext. [email protected]

GlobeNewswire

Special Opportunities Fund, High Income Securities Fund, and Bulldog Investors Reach Settlement Agreement with Two MFS Municipal Bond Funds

https://finance.yahoo.com/news/special-opportunities-fund-high-income-134900125.html

981a1c19-31e7-3856-b01a-936fc849f2ba

CYCN

Cyclerion Therapeutics, Inc.       – Asset Purchase Agreement Closed; Cyclerion Received Equity Ownership in Tisento and Upfront Cash Payment –– Tisento Developing Zagociguat in MELAS*, a Rare Primary Mitochondrial Disease with No Approved Therapies, Leveraging Extensive Preclinical and Clinical Data Generated by Cyclerion –CAMBRIDGE, Mass., July 31, 2023 (GLOBE NEWSWIRE) -- Cyclerion Therapeutics, Inc. (Nasdaq: CYCN) and Tisento Therapeutics, Inc. today announced the closing of the previously disclosed asset purchase agreement. Tisento is launching with an $81 million Series A financing to support its development of the Phase 2 soluble guanylate cyclase (sGC) stimulator zagociguat in MELAS and other genetic mitochondrial diseases, as well as the company’s advancement of additional assets for serious diseases with unmet need.Zagociguat is a first-in-class, brain-penetrant sGC stimulator that modulates the nitric oxide-cyclic guanosine monophosphate (cGMP) pathway, a fundamental cell-signaling pathway, and has shown potential to treat both central nervous system (CNS) and peripheral symptoms of mitochondrial diseases. Phase 2a clinical data, generated by Cyclerion, showed rapid improvements in disease-associated biomarkers in patients with MELAS who received zagociguat for 28 days. In the study, zagociguat exhibited an excellent safety profile, exposure in the CNS and throughout the body consistent with once-daily oral dosing, and improvements across key domains of the disease pathophysiology including neuronal function, mitochondrial function, cerebrovascular hemodynamics, and inflammatory processes.“Tisento is launching with a Phase 2b-ready asset, compelling clinical data, an experienced team led by CEO Peter Hecht, committed investors, and an established network of healthcare providers and patient advocates. We have significant momentum and a strong sense of urgency to deliver on behalf of patients who currently have no treatment options,” said Bryan Roberts, PhD, Chair of the Board at Tisento and partner at Venrock. “The nitric oxide-cyclic GMP pathway has yielded a number of meaningful approved therapies. We are excited to extend the potential of this mechanism into the central nervous system by advancing the first brain-penetrant sGC stimulators. We are laser-focused on executing on our Phase 2b study of zagociguat in MELAS in order to build on the promising Phase 2a clinical data and deliver a potential new option for patients as quickly as possible.”Story continuesMajor Cyclerion shareholders participated in Tisento’s Series A financing, including Invus, Peter Hecht, Polaris, and others. They are joined in the Tisento investor syndicate by Sanofi Ventures, Venrock, J. Wood Capital, and others.In the transaction, Tisento acquired from Cyclerion zagociguat and CY3018, a CNS-targeted sGC stimulator in IND-enabling studies. Cyclerion received 10 percent equity ownership in Tisento with anti-dilution protection through $100 million in post-money valuation, as well as the right to purchase additional Tisento equity in the future. The Tisento equity ownership provides Cyclerion shareholders with the opportunity to benefit from future Tisento value creation without further financial or operational obligations for the Tisento assets. In addition, Cyclerion received a $10.4 million cash payment, consisting of an $8 million upfront payment and reimbursement for certain employee and development expenses related to zagociguat and CY3018 for the period between the signing and closing of the transaction. In conjunction with the asset sale, Peter Hecht invested $5 million in Cyclerion.“We are very pleased to have found a good solution to advance our promising brain-penetrant sGC development programs on behalf of patients with significant unmet medical needs,” said Errol De Souza, Chair of the Board at Cyclerion. “In the midst of this extremely challenging financing climate for the biotech industry, we’re honored to partner with an excellent syndicate of investors. The launch of Tisento supports the optimal advancement of zagociguat and CY3018 while providing Cyclerion with near-term capital and potential future value for our shareholders. With cash runway now extended into 2025, Cyclerion will continue to seek to create value via a highly efficient, externalized business model, initially targeting later-staged, de-risked, quick-to-advance CNS assets and, in parallel, explore mechanisms to further advance its systemic sGC stimulators.”* MELAS (Mitochondrial Encephalomyopathy, Lactic Acidosis, and Stroke-like episodes)About Cyclerion TherapeuticsCyclerion Therapeutics is a clinical-stage biopharmaceutical company on a mission to develop treatments for serious diseases. Cyclerion acquired 10 percent equity ownership in Tisento Therapeutics as part of an asset purchase agreement in which Tisento acquired the brain-penetrant sGC stimulators zagociguat and CY3018. Cyclerion’s current portfolio includes novel sGC stimulators, namely praliciguat and olinciguat, as well as multiple research stage molecules. Praliciguat is a systemic sGC stimulator that is exclusively licensed to Akebia and is being advanced in rare kidney disease. Olinciguat is a vascular sGC stimulator that Cyclerion intends to develop itself or out-license for cardiovascular diseases. Concurrently, Cyclerion is also evaluating other activities aimed at enhancing shareholder value, which potentially include collaborations, licenses, mergers, acquisitions and/or other targeted investments.About Tisento TherapeuticsTisento Therapeutics is developing novel medicines to treat diseases with significant unmet medical needs. Tisento’s lead candidate is zagociguat, a Phase 2, first-in-class, brain-penetrant sGC stimulator, which is advancing in MELAS and other genetic mitochondrial diseases. Zagociguat is ideally suited to treat mitochondrial diseases with both CNS and peripheral symptoms, such as cognitive impairment, fatigue, and muscle weakness.Forward Looking StatementCertain matters discussed in this press release are “forward-looking statements”. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should”, “positive” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. In particular, the Company’s statements regarding the potential of zagociguat for the treatment of MELAS and other mitochondrial diseases, any future value creation to the Company from the sale, and other trends and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the risks that the referenced transactions may not be successful in generating future value for Cyclerion shareholders; that zagociguat and CY3018 may not demonstrate the desired safety and efficacy in ongoing and future clinical trials; the ability of Tisento to successfully develop and/or commercialize zagociguat and CY3018; the receipt of regulatory approvals and adequate financing for Tisento to develop or commercialize any of its products, the risk that the Company may be deemed an investment company and required to register as such; and other risks described in the Company’s Form 10-K for the fiscal year ended December 31, 2022. The factors discussed herein could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.Contacts:Cyclerion Investor & Media RelationsPhone: 857-327-8778Email: [email protected] Media RelationsJessi Rennekamp, Astrior CommunicationsEmail: [email protected]

GlobeNewswire

Tisento Launches with $81 Million From Top-Tier Investor Syndicate and Promising Cyclerion Assets

https://finance.yahoo.com/news/tisento-launches-81-million-top-110000171.html

49c8f87c-72a6-34bd-83a8-c22cca081a3f

CYCN

Peter Hecht, the co-founder and CEO of embattled biotech Cyclerion Therapeutics Inc. (Nasdaq: CYCN), is heading up a new startup that's effectively a life raft for Cyclerion's research. Elsewhere in the Petri Dish: a $1 billion deal for Pfizer gene therapies, a succession plan for a founder-led biotech organization, and a new Longwood Fund spinout with assets from GSK.Continue reading

American City Business Journals

The Petri Dish: Alexion buys Pfizer gene therapies in $1B deal; Peter Hecht's plan to save Cyclerion assets

https://finance.yahoo.com/m/a747287a-6d00-3384-924f-1450b56ab7e4/the-petri-dish-alexion-buys.html

a747287a-6d00-3384-924f-1450b56ab7e4

CYRX

CryoPort, Inc. (CYRX) came out with a quarterly loss of $0.42 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -68%. A quarter ago, it was expected that this company would post a loss of $0.18 per share when it actually produced a loss of $0.16, delivering a surprise of 11.11%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.CryoPort, Inc. , which belongs to the Zacks Transportation - Services industry, posted revenues of $57.02 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 0.14%. This compares to year-ago revenues of $64.15 million. The company has topped consensus revenue estimates three 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.CryoPort, Inc. Shares have lost about 22.5% since the beginning of the year versus the S&P 500's gain of 17.2%.What's Next for CryoPort, Inc.While CryoPort, Inc. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Story continuesAhead of this earnings release, the estimate revisions trend for CryoPort, Inc. Unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.23 on $56.77 million in revenues for the coming quarter and -$0.90 on $234.11 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, Transportation - Services is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Despegar.com (DESP), another stock in the same industry, has yet to report results for the quarter ended June 2023. The results are expected to be released on August 17.This online travel company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +126.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Despegar.com's revenues are expected to be $158.85 million, up 18.2% 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 reportCryoPort, Inc. (CYRX) : Free Stock Analysis ReportDespegar.com Corp. (DESP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

CryoPort, Inc. (CYRX) Reports Q2 Loss, Tops Revenue Estimates

https://finance.yahoo.com/news/cryoport-inc-cyrx-reports-q2-213019313.html

0d58b61f-e4f4-3383-9257-10f337f46e0f

CYRX

Conestoga Capital Advisors, an asset management company, released its “Micro Cap Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The Micro Cap Composite declined -1.53% net of fees in the second quarter, compared to the Russell Microcap Growth Index’s 6.35% return. Despite eight of the eleven sectors adding value to relative performance, negative stock selection effects in the Industrials, Health Care, and Technology sectors proved too much to overcome. The portfolio was also hindered by stylistic headwinds. Positive sector allocation effects contributed modestly to performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.Conestoga Micro Cap Strategy highlighted stocks like Cryoport, Inc. (NASDAQ:CYRX) in the second quarter 2023 investor letter. Headquartered in Brentwood, Tennessee, Cryoport, Inc. (NASDAQ:CYRX) provides logistics solutions to the life science industry. On August 9, 2023, Cryoport, Inc. (NASDAQ:CYRX) stock closed at $13.65 per share. One-month return of Cryoport, Inc. (NASDAQ:CYRX) was -6.51%, and its shares lost 68.69% of their value over the last 52 weeks. Cryoport, Inc. (NASDAQ:CYRX) has a market capitalization of $621.693 million.Conestoga Micro Cap Strategy made the following comment about Cryoport, Inc. (NASDAQ:CYRX) in its second quarter 2023 investor letter:"Cryoport, Inc. (NASDAQ:CYRX): CYRX is a leading provider of cold chain logistics solutions to the life sciences industry. Shares declined 28.1% during the quarter despite beating earnings expectations. The mid-point of fiscal 2023 revenue guidance was also above consensus. The cause of the under-performance can be tied to general weakness in the bio-processing industry. Biotech companies are seeing pressure from the challenging funding environment. Inventory destocking headwinds are also prevalent across the industry. We expect industry conditions to remain weak through 2023 but to begin to improve in 2024."Story continuesBiggest Logistics Companies in the WorldPixabay/ Public DomainCryoport, Inc. (NASDAQ:CYRX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Cryoport, Inc. (NASDAQ:CYRX) at the end of first quarter which was 10 in the previous quarter.We discussed Cryoport, Inc. (NASDAQ:CYRX) in another article and shared Headwaters Capital Management's views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles:26 Best Universities in the World With No Tuition Fee22 Medical Schools with the Highest Acceptance Rates in America15 Best Medical Specialties for Female Doctors and MomsDisclosure: None. This article is originally published at Insider Monkey.

Insider Monkey

Cryoport (CYRX) Fell 28.1% in Q2 Despite Beating Earnings Expectations

https://finance.yahoo.com/news/cryoport-cyrx-fell-28-1-111421341.html

3da173f1-0f33-3177-aa8c-edf22b804614

CYT

- CYT-0851 has demonstrated early activity in combination with capecitabine or gemcitabine in advanced solid tumors and a generally well tolerated safety profile in a heavily pretreated population of patients- Overall disease control rate was 71.4% with the capecitabine combination and 87.5% with the gemcitabine combination- Enrollment in the Phase 1 dose escalation study continues with preliminary data expected in mid-2023LEXINGTON, Mass., June 03, 2023--(BUSINESS WIRE)--Cyteir Therapeutics, Inc. ("Cyteir") (Nasdaq: CYT), a clinical stage oncology company, today presented results from a Phase 1 study with CYT-0851 in combination with capecitabine or gemcitabine in a poster titled "Phase 1 Results of CYT-0851, a Monocarboxylate Transporter (MCT) Inhibitor, in Combination with Capecitabine or Gemcitabine in Advanced Solid Tumors" (Abstract: 3099, Poster: 297) at the 2023 American Society of Clinical Oncology (ASCO) annual meeting in Chicago, Illinois."We are encouraged by the preliminary data from the Phase 1 dose escalation study with CYT-0851 in combination with capecitabine and gemcitabine and are pleased that the safety profile of CYT-0851 continues to be generally tolerable even when combined with these standard chemotherapy agents," said Markus Renschler, MD, President and Chief Executive Officer of Cyteir. "The Cyteir team is diligently executing on the clinical development of CYT-0851 as a potential combination therapy, and we look forward to sharing preliminary data for all patients in these cohorts mid-year."Phase 1 Study ObjectivesThe primary objective of the ongoing Phase 1 study is to determine the recommended Phase 2 dose and maximum tolerated dose of CYT-0851 in combination with capecitabine or gemcitabine. Key secondary objectives include evaluation of safety and tolerability, determination of the pharmacokinetic parameters, optimal dosing regimen for each combination and characterization of preliminary anti-tumor activity of the combinations.Story continuesPhase 1 Study Preliminary FindingsThe data presented in the poster are the first report of preliminary results of an ongoing study.As of the May 1, 2023 data cutoff, 22 patients were enrolled in the capecitabine cohort across four dose-escalation cohorts from 100 mg to 400 mg once daily dose and 13 patients were enrolled in the gemcitabine cohort across three dose-escalation cohorts from 100 mg to 300 mg once daily dose. Fourteen patients in the capecitabine arm were response evaluable and eight patients in the gemcitabine arm were response evaluable.The recommended Phase 2 dose in the capecitabine combination is 400 mg once a day with no dose limiting toxicities observed. The maximum tolerated dose in the combination of CYT-0851 with capecitabine was not identified. The dose escalation of CYT-0851 in combination with gemcitabine is ongoing and the study has cleared the 200 mg dose.Combination of CYT-0851 with capecitabineSeven ovarian cancer patients and seven pancreatic cancer patients were response evaluable with RECIST measurements available.There was one partial response in an ovarian cancer patient with treatment ongoing in cycle 12 and nine patients had stable disease (five pancreatic cancer patients and four ovarian cancer patients).The overall disease control rate in the capecitabine combination was 71.4%.Combination of CYT-0851 with gemcitabineFive sarcoma patients, two pancreatic cancer patients and one ovarian cancer patient were response evaluable.There was one confirmed partial response in a sarcoma patient at month two and six patients with stable disease (three sarcoma patients, two pancreatic patients and one ovarian cancer patient).The overall disease control rate was 87.5%.Safety:To date, CYT-0851 has exhibited a generally well tolerated safety profile without unanticipated toxicities observed at clinically active doses, and without exacerbation of the expected toxicity from the chemotherapy combination partners.In the capecitabine cohort, 45.5% of patients reported adverse events with 9.1% being grade 3/4. The most common treatment-related adverse events were fatigue (27.3%), decreased appetite (13.6%) and nausea (13.6%).In the gemcitabine cohort, 69.2% of patients reported adverse events with 46.2% being grade 3/4. The most common treatment-related adverse events were fatigue (38.5%), anemia (23.1%) and neutropenia (23.1%).No dose-limiting toxicities were observed in any patients treated with the combination of CYT-0851 and capecitabine.In the CYT-0851 plus gemcitabine combination cohorts, one patient at the 300 mg level had dose-limiting hyperglycemia with starvation ketoacidosis that resolved upon treatment interruption and has not recurred upon rechallenge at a lower dose.No treatment related deaths have been reported, and no patients experienced a treatment related adverse event that led to discontinuation of CYT-0851.About Cyteir Therapeutics, Inc.Cyteir is a clinical-stage oncology company that is focused on the development of CYT-0851, an oral investigational drug that inhibits monocarboxylate transporters. Cyteir’s current priority in CYT-0851 development is in combination with capecitabine and gemcitabine in a Phase 1/2 clinical study, including patients with advanced ovarian cancer. Follow Cyteir on social media: LinkedIn and Twitter and at www.cyteir.com.Forward-Looking StatementsThis press release contains "forward-looking statements" about Cyteir’s strategy, future plans, and prospects, including statements regarding the development of CYT-0851, regulatory strategy and path for CYT-0851, and the expected timing and reporting of data for CYT-0851. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.Actual results could differ materially from those included in the forward-looking statements due to various factors, risks and uncertainties, including, but not limited to: that Cyteir’s clinical trials may fail to demonstrate adequately the safety and efficacy of CYT-0851; that preclinical testing of CYT-0851 may not be predictive of the results or success of clinical trials; that the clinical development of CYT-0851 may be delayed or otherwise take longer and/or cost more than planned; that Cyteir may be unable to initiate, enroll or complete clinical development of CYT-0851; that preliminary data may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data; that the continuing global outbreak of COVID-19 (including any resurgences or variants) may result in development or manufacturing delays, supply shortages, or shortages of qualified healthcare personnel; that synthetic lethality, as an emerging class of precision medicine targets, could result in negative perceptions of the efficacy, safety or tolerability of this class of targets, which could adversely affect our ability to conduct our business, advance our drug candidates or obtain regulatory approvals; and that Cyteir’s compounds may not receive regulatory approvals or become commercially successful products. These and other risks and uncertainties are identified under the heading "Risk Factors" in Cyteir’s most recent Annual Report on Form 10-K and other filings Cyteir has made and may make with the Securities and Exchange Commission ("SEC") in the future, available on the SEC's website at www.sec.gov.The forward-looking statements contained in this press release are based on management's current views, plans, estimates, assumptions, and projections with respect to future events, and Cyteir does not undertake and specifically disclaims any obligation to update any forward-looking statements.View source version on businesswire.com: https://www.businesswire.com/news/home/20230603005002/en/ContactsCyteir Investor [email protected]

Business Wire

Preliminary Ongoing Results with CYT-0851 in Combination with Capecitabine or Gemcitabine in Advanced Solid Tumors Show Early Clinical Activity and Generally Well Tolerated Safety Profile

https://finance.yahoo.com/news/preliminary-ongoing-results-cyt-0851-130000802.html

c4014985-0a8b-3262-bf00-53871f3ca8ea

CYT

LEXINGTON, Mass., June 30, 2023--(BUSINESS WIRE)--Cyteir Therapeutics, Inc. ("Cyteir" or the "Company") (Nasdaq: CYT) today announced that it is discontinuing all development of CYT-0851, its investigational monocarboxylate transporter inhibitor, and that Cyteir’s Board of Directors has determined, after consideration of potential strategic alternatives, it is in the best interests of its shareholders to dissolve Cyteir, liquidate its assets following an orderly wind down of the Company’s operations, and return remaining cash to shareholders.CYT-0851 was being evaluated in a Phase 1 combination study with capecitabine or gemcitabine in advanced ovarian cancer and other solid tumors. While durable responses were observed in both combination arms, the overall clinical efficacy data did not meet Cyteir’s criteria to advance the program into the next phase of clinical development. Given the resources required to identify predictive biomarkers to identify who could potentially benefit from treatment with CYT-0851, and the current financial and regulatory environment, continuation of development of CYT-0851 by Cyteir was determined not to be feasible. The Company will continue to treat patients currently enrolled in the Company’s Phase 1 combination study with capecitabine or gemcitabine prior to the effectiveness of the Company’s dissolution."The Board of Directors and management devoted substantial time and effort in identifying development paths for CYT-0851 and strategic options for Cyteir," said Markus Renschler, MD, President and CEO of Cyteir. "We would like to thank the patients who enrolled in our trial, the staff at our clinical trial sites, all employees of Cyteir, the Board of Directors and our investors who have supported Cyteir over the years. While we wish that the outcome was different today, we believe that discontinuation of our programs and a dissolution of the Company will maximize shareholder value."Story continuesPlanned Liquidation and DissolutionDue to the planned discontinuation of CYT-0851 development, and the previously announced discontinuation of Cyteir’s discovery pipeline, the Company’s Board of Directors intends to approve a Plan of Liquidation and Dissolution ("Plan of Dissolution") that would, subject to shareholder approval, include the distribution of remaining cash to shareholders following an orderly wind down of the Company’s operations, including the proceeds, if any, from the sale of its assets. Prior to winding down operations, the Company intends to complete regulatory and patient obligations from the ongoing clinical trial. The Company will engage independent advisors, who are experienced in the dissolution and liquidation of companies, to assist in the Company’s dissolution and liquidation. The Company also intends to call a special meeting of its shareholders in the second half of 2023 to seek approval of the Plan of Dissolution and will file proxy materials relating to the special meeting with the Securities and Exchange Commission (the "SEC"). If the Company’s shareholders approve the Plan of Dissolution, the Company would then file a certificate of dissolution, delist its shares of common stock from The Nasdaq Global Select Market, satisfy or resolve its remaining liabilities, obligations and costs associated with the dissolution and liquidation, make reasonable provisions for unknown claims and liabilities, attempt to convert all of its remaining assets into cash or cash equivalents, including through a potential sale of CYT-0851, and return remaining cash to its shareholders. The Company will provide an estimate of any such amount that may be distributed to shareholders in the proxy materials to be filed with the SEC. However, the amount of cash actually distributable to shareholders may vary substantially from any estimate provided by the Company based on a number of factors.Upon the filing of the certificate of dissolution, the Company intends to cease trading in its common stock, close its stock transfer books and discontinue recording transfers of shares of its capital stock, in accordance with applicable law. The Company will establish a reserve, which will be used to pay all expenses (including operating expenses up until the filing of the certificate of dissolution) and other known, non-contingent liabilities and obligations, and will include reasonable provision for future expenses of liquidation and contingent and unknown liabilities as required by Delaware law. The Company currently expects that its existing capital resources together with the anticipated net proceeds from the sale of certain assets will enable it to meet its remaining liabilities and obligations with sufficient reserves.The Company does not intend to comment on the planned liquidation and dissolution until the Company files a proxy statement related to the special meeting with the SEC.IMPORTANT ADDITIONAL INFORMATIONIn connection with the proposed Plan of Dissolution, the Company intends to file with the SEC a proxy statement and other relevant materials. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT, ANY AMENDMENTS OR SUPPLEMENTS THERETO, ANY OTHER SOLICITING MATERIALS AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PLAN OF DISSOLUTION AND RELATED MATTERS OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE CYTEIR THERAPEUTICS, INC. PLAN OF DISSOLUTION AND RELATED MATTERS. Shareholders may obtain a free copy of the proxy statement and the other relevant materials (when they become available), and any other documents filed by the Company with the SEC, at the SEC’s website at http://www.sec.gov or on the "Investors & Media" section of Cyteir’s website at www.cyteir.com.Participants in the SolicitationCyteir and its executive officers and directors may be deemed to be participants in the solicitation of proxies from its shareholders with respect to the proposed Plan of Dissolution and related matters, and any other matters to be voted on at the special meeting of shareholders. Information regarding the names, affiliations and interests of such directors and executive officers will be included in the proxy statement (when available). Additional information regarding such directors and executive officers is included in Cyteir’s Proxy Statement on Schedule 14A, which was filed with the SEC on April 27, 2023. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of Cyteir’s shareholders in connection with the Plan of Dissolution and related matters and any other matters to be voted upon at the special meeting will be set forth in the proxy statement (when available). These documents are available free of charge as described in the preceding section.Forward Looking StatementsStatements contained in this press release regarding matters that are not historical facts are "forward-looking statements". Words such as "may," "will," "expect," "anticipate," "estimate," "intend," "poised" and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are intended to identify forward-looking statements.For example, all statements Cyteir makes regarding the proposed dissolution pursuant to the Plan of Dissolution, timing of filing of the certificate of dissolution and holding a special shareholder meeting to approve the Plan of Dissolution, the amount and timing of liquidating distributions, if any, in connection with the dissolution, the amount of planned reserves, plans to engage advisors and similar statements are forward-looking. All forward-looking statements are based on estimates and assumptions by Cyteir’s management that, although Cyteir believes to be reasonable, are inherently uncertain. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Cyteir expected. Such risks and uncertainties include, among others, the availability, timing and amount of liquidating distributions; the amounts that will need to be set aside by Cyteir; the adequacy of such reserves to satisfy Cyteir’s obligations; potential unknown contingencies or liabilities, including tax claims, and Cyteir’s ability to favorably resolve them or at all; the amount of proceeds that might be realized from the sale or other disposition of any remaining assets; the application of, and any changes in, applicable tax laws, regulations, administrative practices, principles and interpretations; the incurrence by Cyteir of expenses relating to the dissolution; the ability of the board of directors to abandon, modify or delay implementation of the Plan of Dissolution, even after shareholder approval; and the uncertain macroeconomic environment. These statements are also subject to a number of material risks and uncertainties that are described in Cyteir’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 23, 2023 and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 10, 2023, as updated by subsequent filings the Company may make with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Cyteir undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230630372398/en/ContactsInvestor [email protected]

Business Wire

Cyteir Therapeutics Announces Discontinuation of CYT-0851 Development Program and Planned Liquidation and Dissolution

https://finance.yahoo.com/news/cyteir-therapeutics-announces-discontinuation-cyt-120000794.html

3a1190da-d5b1-3d1d-af86-a1b53c44bbe1

CZR

In partnership with Red Mile Gaming & Racing and Keeneland, Caesars Entertainment, Inc. CZR has introduced its retail sportsbook, Caesars Sportsbook, at Red Mile in Lexington, KY.This partnership takes Caesars a step closer toward its commitment to horse racing and the expansion of the Caesars Racebook app, which is currently live in 17 states. The company will be launching online sports betting in Kentucky on Sep 28, 2023. Eligible customers, who are 21 years and above, can have access by downloading the Caesars Sportsbook application, website for desktop or registering at the retail sportsbook in Red Mile.Perks for Offline and Online UsersThe retail version of Caesars Sportsbook at Red Mile is set to deliver memorable in-person sports wagering services to the users in Kentucky. The 4,600-square-foot retail sportsbook houses advanced Vegas-style sportsbook featuring five betting windows, a grand bar area complete with wall-to-wall flatscreen televisions on the first floor along with 14 self-service betting kiosks throughout the gaming floor and simultaneous broadcasting areas. The second floor comprises a grand environment with a range of comfortable seating arrangements for larger sporting events, views of the racetrack, and full food & beverage service throughout the space.The online version of Caesars Sportsbook provides services like the livestreaming of marquee sporting events, and dynamic in-play betting options with live same-game parlays, and much more. Early online registrants, from Sep 7 to Sep 27, will get a chance to enjoy special early deposit offers.The company offers its industry-leading loyalty program, Caesars Rewards, to both online and in-person Caesars Sportsbook customers, ensuring a responsible sports betting experience as well as providing various rewards and benefits.Zacks Investment ResearchImage Source: Zacks Investment ResearchShares of CZR gained 28.3% in the year-to-date period, outperforming the Zacks Leisure and Recreation Services industry’s 18.6% growth.Story continuesCaesars Racebook to Drive GrowthCaesars Entertainment continues to focus on partnerships to drive growth. The company expanded its partnership with NYRA Bets to boost the presence of its horse racing account wagering app Caesars Racebook. Owing to its focus on horse racing, Caesars Entertainment is sponsoring the National Horseplayers Championship held annually at the recently rebranded Horseshoe Las Vegas. The company also initiated the construction of Harrah’s Columbus Racing & Casino, an upcoming establishment in Columbus, NE, featuring a casino, sportsbook and a mile-long thoroughbred racetrack set to open in 2024.Caesars Entertainment intends to launch its Caesars Racebook in additional states across the United States, after the regulatory approvals. The expansion will provide users with the benefits of NYRA Bets, including race replays, handicapping insights and more.Zacks RankCaesars Entertainment currently carries a Zacks Rank #3 (Hold).Key PicksSome better-ranked stocks from the Consumer Discretionary sector are Royal Caribbean Cruises Ltd. RCL, Live Nation Entertainment, Inc. LYV and Strategic Education, Inc. STRA.Royal Caribbean presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.RCL has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has gained 105.7% in the past year. The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) indicates growth of 54.5% and 180.3%, respectively, from the year-ago period’s levels.Live Nation presently sports a Zacks Rank of 1. LYV has a trailing four-quarter earnings surprise of 34.6%, on average. The stock has declined 13.2% in the past year.The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates growth of 21% and 57.8%, respectively, from the year-ago period’s levels.Strategic Education currently sports a Zacks Rank of 1. STRA has a trailing four-quarter earnings surprise of 12.1%, on average. Shares of the company have increased 16.7% in the past year.The Zacks Consensus Estimate for STRA’s 2023 sales and EPS indicates a rise of 4.9% and 27.9%, respectively, from the year-ago period’s levels.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis ReportStrategic Education Inc. (STRA) : Free Stock Analysis ReportLive Nation Entertainment, Inc. (LYV) : Free Stock Analysis ReportCaesars Entertainment, Inc. (CZR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Caesars Entertainment (CZR) Opens Retail Sportsbook in Kentucky

https://finance.yahoo.com/news/caesars-entertainment-czr-opens-retail-122900623.html

4c1444cf-b337-3343-97c7-14a05ad1ccec

CZR

NFL season kicks off this weekend amid what's expected to be another record year for online sports gambling. While bettors debate which team will win the Super Bowl this year, the companies providing the markets for most of those wagers are duking it out for customers.DraftKings (DKNG) and FanDuel had more than 75% of the market through the end of the first quarter of this year, per analysis from Macquarie research. But two of sports business' premier brands, ESPN and Fanatics, are entering the gambling world, setting the stage for a fall that could once again be defined by heavy promotions.DraftKings, for its part, says it isn't worried about the competition."We've seen this in pretty much every digital product in existence, the best product wins," DraftKings Co-Founder and CEO Jason Robins told Yahoo Finance. "On the internet, it's easy to compare. People talk and they see. I think that we really invested there, and I think at this point in time we're the best product in the market and it's only going to get better."This content is not available due to your privacy preferences.Update your settings here to see it.Destabilizing the landscapeOn August 8, Penn Entertainment ditched Barstool Sports and signed a $2 billion deal with ESPN, the self-proclaimed worldwide leader in sports. Penn is aiming to launch ESPN Bet in November and hopes the new brand can earn it double-digit market share, up from it's current low single-digit share.Penn CEO Jay Snowden said at an industry conference this week that Penn is now operating its own tech stack and believes the company has "great product," which could be a meaningful development with primetime ESPN exposure expected to draw more eyes to the app. This content is not available due to your privacy preferences.Update your settings here to see it.Meanwhile, Fanatics has a massive database of sports fans and their favorite teams from years of order placements. The company sends targeted emails to sell merchandise around team events. It could leverage a similar strategy with online gambling and promote bets to customers based on their favorite teams.Story continues"I think there's a real opportunity to do some things differently in the category, some things that look a lot more like a consumer technology company and a lot less like a sportsbook," Matt King, CEO of Fanatics Betting & Gaming, told Yahoo Finance.King spent nearly six years at FanDuel, including almost four as CEO, before leaving in the fall of 2021. He likens the new approach he's taking with Fanatics to American Express, where customers pay year-after-year to be a part of the reoccurring rewards program. The e-commerce giant is currently offering a free jersey to any Massachusetts user that bets $50 or more on the platform. It also plans to integrate its collectibles business and build out fan experiences where bettors can interact with players."The question for the Fall is will PENN's launch of ESPN Bet (and Fanatics' launch too) destabilize what was a rationalizing competitive landscape," Shaun Kelley, Bank of America research analyst, wrote in a research note on Tuesday.Macquarie Securities managing director Chad Beynon, who covers the sports gambling space, believes DraftKings and FanDuel have long been the market leaders with the most visually appealing platform and the best selection of betting options."The big question is, that gap is probably going to close with the others, but will people transition over?" Beynon said.LANDOVER, MD - JANUARY 20: FedEx Field Opens the first Fanatics Sportsbook betting lounge inside an NFL Stadium on January 20, 2023. Credit: mpi34/MediaPunch /IPXReturn of promotions?The heightened competition raises the question of whether companies will double down on promotions that previously hurt their margins."Let's say we get to week five or six of the NFL season and people aren't happy with their market share or how they're stacking up," said Joel Simkins, a managing director in Houlihan Lokey's technology group. "Do we see those marketing wars kind of remerge, do we some more aggressive re-engagement activities?"Promotions have been the flashy way to bring bettors onto an app. At their best, companies use them to bring new customers onto a platform with the hopes to retaining bettors long-term.At their worst, promotions play out like Caesar's (CZR) 2021 New York launch, which offered $3,000  deposit matches but failed to maintain customers. Caesars Digital, which includes the sportsbook, lost $560 million in net income during the quarter it launched in New York. Its market share in New York decreased from 24% in February 2022 to just under 10% in August 2023, per New York State Gaming Commission Data. The industry has improved its margins this year. FanDuel achieved profitability on an adjusted EBITDA basis through the first half of 2023. DraftKings cut losses throughout 2023, recently announced quarterly profits and is aiming for full-year profitability in 2024.But if either Fanatics or ESPN Bet is successful, another customer acquisition moment might heat up in the sports gambling space and could threaten the progress gambling companies have made toward profitability."The easiest way to grow, and even frankly, defend share at times is marketing [which includes promotions]," King said. "But...the longer you do that, the more there's a compounding effect in kind of just the business strategy, that kind of makes you continually dependent on spending billions of dollars in marketing to maintain that share position.""Once you scale marketing it's like a drug that's hard to get off of."Josh Schafer is a reporter for Yahoo Finance.Click here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Sports betting companies battle for customers as NFL season kicks off

https://finance.yahoo.com/news/sports-betting-companies-battle-for-customers-as-nfl-season-kicks-off-115012239.html

1ee4420a-41c5-4bc5-8448-5124a8ee6ae9

D

In this article, we will discuss the 10 stocks whose price targets were recently trimmed by analysts. If you want to see more such stocks on the list, go directly to Analysts Just Trimmed Price Targets for These 5 Stocks.Despite recent stock market challenges, Wall Street remains cautiously optimistic about potential returns in the coming months. In August, global stocks had their second-worst month of the year, dropping 2.96%. Rising bond yields and concerns about China's economy contributed to this decline. JPMorgan's Madison Faller believes 2023 can end on a positive note, reported CNBC. She notes that valuations have become more attractive after late-summer market turbulence, offering opportunities to rebuild equity exposure. Higher interest rates, driven by the Federal Reserve's actions, may create better bond entry points and protect against surprises. The debate on monetary policy has shifted from rate heights to how long central banks will keep them elevated. If inflation cools while rates stay high, it might set the stage for future rate cuts. Goldman Sachs has reduced the likelihood of a U.S. recession 2024 to 15%, supporting a "soft landing" scenario, which is typically favorable for equities. JPMorgan Private Bank shares a similar view, not anticipating a recession despite higher interest rates but rather a "softish landing." Consumers have maintained solid spending habits, with recent retail data showing resilience, albeit with some shifts toward thriftier options and goods. The latest earnings season brought positive surprises, with S&P 500 earnings exceeding expectations and rising steadily. Companies increasingly focus on long-term growth, with AI investments surging across industries. Technology stocks, especially AI ones, have driven market gains this year, though selectivity remains essential. Companies with strong balance sheets, cash generation, and the ability to compound returns over time are gaining favor in a rising-rate environment. As interest rates rise, this trend benefits profitable, strong balance sheet tech companies over speculative, unprofitable counterparts.Story continuesOn September 7, US stock futures experienced a decline, and the dollar reached a six-month high as investors increased their expectations of further Federal Reserve policy tightening. Nasdaq 100 futures have fallen by 0.7%, with notable drops in premarket trading for companies like Apple Inc. (NASDAQ:AAPL) and NVIDIA Corporation (NASDAQ:NVDA), down approximately 2%. Concerns arose after news of China's intention to prohibit iPhones in certain government agencies, impacting US technology stocks, which have been at the forefront of this year's market gains. The rally in oil prices has paused as traders shift their focus to stockpile levels. After a nine-day winning streak, West Texas Intermediate (WTI) crude oil began to dip towards $87 per barrel. This remarkable run, the longest in over four years since January 2019, pushed prices into overbought territory. The surge was triggered by OPEC+ leaders' decision to extend supply cuts until the end of 2023, providing strong support to oil prices. However, the recent decline in oil prices comes as the American Petroleum Institute (API) reported a substantial drop of 5.5 million barrels in US crude inventories. This suggests a potential rebalancing of supply and demand dynamics in the oil market, contributing to the overall sentiment among traders. While oil prices have paused, the market remains attentive to factors such as supply levels, geopolitical developments, and demand trends, which can influence the direction of crude oil prices in the coming months.On the stock market front, just like the drop in Nasdaq 100 futures in premarket trading for companies like Apple Inc. (NASDAQ:AAPL) and NVIDIA Corporation (NASDAQ:NVDA), analysts are bearish on several stocks by trimming their price targets. Check out the complete article to see details of these stocks.Analysts Just Trimmed Price Targets for These 10 Stocks10. Chesapeake Utilities Corporation (NYSE:CPK)Price Reaction after the Price Target Cut: +0.47 (+0.44%)On September 6, RBC Capital revised its price target for Chesapeake Utilities Corporation (NYSE:CPK), setting a new target of $124, down from the previous $133. Furthermore, the investment firm has maintained its "Sector Perform" rating for its shares. This adjustment in the target price was driven by an update made by their analyst in response to the prevailing economic conditions, particularly a consistently higher interest rate environment. To reflect this persistent shift in interest rates, RBC Capital has reevaluated the valuation metrics for Chesapeake Utilities Corporation (NYSE:CPK) and other regulated utilities. Specifically, they have recalibrated the price-to-earnings (P/E) multiples, which serve as a key determinant in assessing the value of these companies. In this recalibration, RBC Capital employs a 4.5% 10-year Treasury yield as the benchmark, a notable departure from previous valuation methods. The adjustment in P/E multiples significantly impacted the valuations of Chesapeake Utilities Corporation (NYSE:CPK) and similar utilities, resulting in a 13% reduction. This highlights how changes in interest rates can affect utility companies' perceived value to investors. In summary, RBC Capital lowered the price target and kept a "Sector Perform" rating for Chesapeake Utilities Corporation (NYSE:CPK) due to recalibrated valuation metrics driven by persistent high interest rates, leading to a notable decrease in assessed valuations.Just as the negative sentiment impacted premarket trading for Nasdaq 100 futures, with companies like Apple Inc. (NASDAQ:AAPL) and NVIDIA Corporation (NASDAQ:NVDA) seeing declines, analysts are adopting a bearish stance on Chesapeake Utilities Corporation (NYSE:CPK).09. NextEra Energy, Inc. (NYSE:NEE)Price Reaction after the Price Target Cut: -0.51 (-0.77%)On September 6, RBC Capital revised its price target for NextEra Energy, Inc. (NYSE:NEE), adjusting it from $90 to $89. Despite this slight reduction, the investment firm holds an "Outperform" rating for the company's shares. This revision in the price target results from RBC Capital's commitment to providing accurate and up-to-date assessments in response to prevailing economic conditions, particularly the consistent presence of higher interest rates. To better align with this enduring trend of elevated interest rates, RBC Capital's analyst has reviewed the valuation metrics applied to NextEra Energy, Inc. (NYSE:NEE) and other regulated utility companies. Specifically, the valuation multiples, including the price-to-earnings (P/E) ratios, have been recalibrated. This recalibration now incorporates a 4.5% yield on the 10-year Treasury as a reference point, a shift from previous valuation methodologies.The adjustment in the P/E multiples has notably impacted the perceived valuations of NextEra Energy, Inc. (NYSE:NEE) and similar utility firms. The new approach has resulted in a significant decrease of approximately 13% in the assessed valuations. This reduction highlights the pivotal role that changes in interest rates play in shaping the perceived value of utility companies for investors. In summary, RBC Capital's recent actions regarding NextEra Energy, Inc. (NYSE:NEE) include slightly lowering the price target and retaining an "Outperform" rating. These changes stem from a recalibration of valuation metrics in response to the persistent presence of higher interest rates. This recalibration has led to a considerable reduction in the estimated valuations of NextEra Energy, Inc. (NYSE:NEE), emphasizing the importance of adapting to evolving economic conditions when evaluating investments in the utility sector.08. SJW Group (NYSE:SJW)Price Reaction after the Price Target Cut: -0.67 (-1.05%)On September 6, RBC Capital adjusted its price target for SJW Group (NYSE:SJW), reducing it from $85 to $76. Despite this reduction, the investment firm has opted to maintain a "Sector Perform" rating for the company's shares. This change in the price target is a response to the ongoing economic environment characterized by consistently elevated interest rates. RBC Capital's analyst reviewed the valuation metrics applied to SJW Group (NYSE:SJW) and other regulated utility companies to align with this enduring trend of higher interest rates. Specifically, they recalibrated the valuation multiples, including the price-to-earnings (P/E) ratios, to incorporate a 4.5% yield on the 10-year Treasury as a benchmark. This marks a shift from previous valuation methodologies.The adjustment in the P/E multiples has notably impacted the perceived valuations of SJW Group (NYSE:SJW) and similar utility firms. This new approach has resulted in a substantial decrease of approximately 13% in the assessed valuations. This reduction underscores the significant influence that fluctuations in interest rates can have on the perceived value of utility companies from an investor's standpoint. In summary, RBC Capital's recent actions concerning SJW Group (NYSE:SJW) involve a price target reduction and retention of a "Sector Perform" rating. These adjustments were made in response to the enduring presence of higher interest rates, prompting a recalibration of valuation metrics. This recalibration has led to a significant decrease in the estimated valuations of SJW Group (NYSE:SJW), emphasizing the importance of adapting to evolving economic conditions when evaluating investments in the utility sector.07. JD.com, Inc. (NASDAQ:JD)Price Reaction after the Price Target Cut: -0.47 (-1.37%)On September 6, Loop Capital analyst Rob Sanderson opted to maintain his "Hold" rating for JD.com, Inc. (NASDAQ:JD), a prominent e-commerce company. However, he has made a downward adjustment to the price target, revising it from $42 to $39. This update from the analyst reflects his current assessment of JD.com, Inc. (NASDAQ:JD) performance and potential within the market. While the "Hold" rating suggests a neutral stance, the reduced price target indicates a less optimistic outlook than the previous valuation. Similar to the decline in premarket trading of Nasdaq 100 futures affecting companies like Apple Inc. (NASDAQ:AAPL) and NVIDIA Corporation (NASDAQ:NVDA), market analysts hold a pessimistic outlook for JD.com, Inc. (NASDAQ:JD).Baron Emerging Markets Fund made the following comment about JD.com, Inc. (NASDAQ:JD) in its first quarter 2023 investor letter:“JD.com, Inc. (NASDAQ:JD) is one of the three largest e-commerce platforms in China. Shares declined after the company reported a slowdown in fourth quarter sales and commented that deliberate culling of unprofitable SKUs would also be a drag on headline revenue growth in the first half of 2023. We believe the slowdown was driven by the peak in Chinese COVID lockdowns, which have since ended, and the elimination or reduction of unprofitable business is better for long-term margins and returns on capital. We remain investors.”06. Dominion Energy, Inc. (NYSE:D)Price Reaction after the Price Target Cut: -0.84 (-1.80%)As of September 6, Mizuho analyst Anthony Crowdell upheld a "Neutral" rating on Dominion Energy, Inc. (NYSE:D), a significant energy company. However, he has made a notable downward adjustment to the price target, revising it from the previous target of $58 down to $46. This decision by the analyst reflects his current assessment of Dominion Energy, Inc. (NYSE:D) performance and prospects in the market. While the "Neutral" rating suggests a relatively balanced view, the reduced price target indicates a more cautious outlook than the prior valuation. Analysts regularly update their assessments based on various factors, including company financials, market conditions, and industry developments, to provide investors with the most up-to-date guidance.Carillon Eagle Growth & Income Fund made the following comment about Dominion Energy, Inc. (NYSE:D) in its Q4 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.” Click to continue reading and see Analysts Just Trimmed Price Targets for These 5 Stocks.Suggested articles:Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price TargetsAnalysts on Wall Street Lower Ratings for These 10 Stocks10 Stocks Receiving a Massive Vote of Approval From Wall Street AnalystsDisclosure: None. Analysts Just Trimmed Price Targets for These 10 Stocks is originally published on Insider Monkey.

Insider Monkey

Analysts Just Trimmed Price Targets for These 10 Stocks

https://finance.yahoo.com/news/analysts-just-trimmed-price-targets-121344124.html

a3dc9d2b-1e6a-3e0e-b7d2-359c6e0a4606

D

Enbridge just inked a deal to expand its exposure to natural gas. Investors sold the shares, but should you step in to buy?Continue reading

Motley Fool

Is Enbridge Stock a Buy?

https://finance.yahoo.com/m/d17537cc-b879-3b2a-a394-28c31469f688/is-enbridge-stock-a-buy-.html

d17537cc-b879-3b2a-a394-28c31469f688

DAL

Delta Air Lines (DAL) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this airline have returned -8.3%, compared to the Zacks S&P 500 composite's -1.3% change. During this period, the Zacks Transportation - Airline industry, which Delta falls in, has lost 10.5%. The key question now is: What could be the stock's future direction?Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For the current quarter, Delta is expected to post earnings of $2.37 per share, indicating a change of +57% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.The consensus earnings estimate of $6.56 for the current fiscal year indicates a year-over-year change of +105%. This estimate has changed -1.6% over the last 30 days.Story continuesFor the next fiscal year, the consensus earnings estimate of $7.39 indicates a change of +12.7% from what Delta is expected to report a year ago. Over the past month, the estimate has changed -1.7%.Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Delta is rated Zacks Rank #3 (Hold).The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSRevenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.In the case of Delta, the consensus sales estimate of $15.09 billion for the current quarter points to a year-over-year change of +8%. The $56.06 billion and $56.82 billion estimates for the current and next fiscal years indicate changes of +10.8% and +1.3%, respectively.Last Reported Results and Surprise HistoryDelta reported revenues of $15.58 billion in the last reported quarter, representing a year-over-year change of +12.7%. EPS of $2.68 for the same period compares with $1.44 a year ago.Compared to the Zacks Consensus Estimate of $14.99 billion, the reported revenues represent a surprise of +3.91%. The EPS surprise was +10.74%.Over the last four quarters, Delta surpassed consensus EPS estimates two times. The company topped consensus revenue estimates two times over this period.ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.Delta is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Delta. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDelta Air Lines, Inc. (DAL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Is Trending Stock Delta Air Lines, Inc. (DAL) a Buy Now?

https://finance.yahoo.com/news/trending-stock-delta-air-lines-130009217.html

3863c27b-6fe1-3b65-a4da-1b1b8e3a0f62

DAL

MINNEAPOLIS (AP) — Delta Air Lines has learned that summer is a good time to prepare for winter — and how to de-ice planes so they can keep flying safely in freezing temperatures.Every summer, Delta brings about 400 workers to Minneapolis to a three-day summer de-ice "boot camp.” They go through computer-based training, watch demonstrations by instructors, and then practice spraying down a plane — using water instead of the chemicals found in de-icing fluid.The boot campers, who rotate through in groups of 10 or so, return to their home bases and train 6,000 co-workers before October, says Jeannine Ashworth, vice president of airport operations for the Atlanta-based airline.Here's how the de-icing process works: Big trucks with tanks of deicing mixture pull up alongside a plane, and an operator in a bucket at the top of a long boom sprays hot fluid that melts ice but doesn't refreeze because of the chemicals it contains, mainly propylene glycol.It takes anywhere from a few minutes to 40 minutes or longer to de-ice a plane, depending on the conditions and the size of the plane.Planes need to be de-iced because if left untreated, ice forms on the body and wings, interfering with the flow of air that keeps the plane aloft. Even a light build-up can affect performance. In worst cases, ice can cause planes to go into an aerodynamic stall and fall from the sky.De-icing "is the last line of defense in winter operations for a safe aircraft,” says Dustin Foreman, an instructor who normally works at the Atlanta airport. “If we don’t get them clean, airplanes can’t fly. They won’t stay in the air. Safety first, always.”The hardest part of the training? Getting newbies comfortable with the big trucks, says Michael Ruby, an instructor from Detroit who has been de-icing planes since 1992, when he sprayed down Fokker F27 turboprops for a regional airline.“The largest vehicle that they’ve ever driven is a Ford Focus. The trucks are 30 feet long, to say nothing about the boom going up in the air. There are a lot of different switches," Ruby says. “The first time you’re driving something that big — the first time you’re going up in the air — it’s intimidating.”Story continuesMinneapolis is a logical place for learning about de-icing. Delta de-iced about 30,000 planes around its system last winter, and 13,000 of those were in Minneapolis.The boot campers, however, come from all over Delta's network — even places that are known more for beaches than blizzards.“I would never have guessed that Jacksonville, Florida, or Pensacola or Tallahassee would need to de-ice aircraft — and they do, so we train employees there as well,” Ashworth says.___Koenig reported from Dallas.

AP Finance

Delta Air Lines employees work up a sweat at boot camp, learning how to de-ice planes

https://finance.yahoo.com/news/delta-air-lines-employees-sweat-002633403.html

3f9a240d-17fb-33c4-89e3-d25aadda4a7e

DAR

For the quarter ended June 2023, Darling Ingredients (DAR) reported revenue of $1.76 billion, up 6.5% over the same period last year. EPS came in at $1.55, compared to $1.23 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.85 billion, representing a surprise of -4.98%. The company delivered an EPS surprise of -1.27%, with the consensus EPS estimate being $1.57.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.Here is how Darling performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:Net Sales- Feed Ingredients: $1.14 billion versus the four-analyst average estimate of $1.19 billion. The reported number represents a year-over-year change of -2.5%.Net Sales- Fuel Ingredients: $139.87 million versus $150.51 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +26.4% change.Net Sales- Food Ingredients: $476.09 million versus $485.78 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +29% change.Segment EBITDA- Food Ingredients: $71.31 million versus $81.95 million estimated by four analysts on average.Segment EBITDA- Corporate: -$20.69 million compared to the -$20.42 million average estimate based on four analysts.Segment EBITDA- Fuel Ingredients: $22.77 million versus $25.43 million estimated by four analysts on average.Segment EBITDA- Feed Ingredients: $187.52 million versus $198.79 million estimated by four analysts on average.Story continuesView all Key Company Metrics for Darling here>>>Shares of Darling have returned +9.1% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDarling Ingredients Inc. (DAR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Darling (DAR) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

https://finance.yahoo.com/news/darling-dar-q2-earnings-key-003011676.html

24e21fb8-e05d-3a1c-8bc1-82a63542995a

DAR

There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Speaking of which, we noticed some great changes in Darling Ingredients' (NYSE:DAR) returns on capital, so let's have a look.Understanding Return On Capital Employed (ROCE)For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. Analysts use this formula to calculate it for Darling Ingredients:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.063 = US$627m ÷ (US$11b - US$1.0b) (Based on the trailing twelve months to July 2023).Therefore, Darling Ingredients has an ROCE of 6.3%. In absolute terms, that's a low return and it also under-performs the Food industry average of 11%. Check out our latest analysis for Darling Ingredients roceAbove you can see how the current ROCE for Darling Ingredients compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Darling Ingredients here for free.What The Trend Of ROCE Can Tell UsWe're glad to see that ROCE is heading in the right direction, even if it is still low at the moment. Over the last five years, returns on capital employed have risen substantially to 6.3%. The amount of capital employed has increased too, by 128%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.The Bottom Line On Darling Ingredients' ROCETo sum it up, Darling Ingredients has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Since the stock has returned a staggering 223% to shareholders over the last five years, it looks like investors are recognizing these changes. Therefore, we think it would be worth your time to check if these trends are going to continue.Story continuesIf you'd like to know more about Darling Ingredients, we've spotted 2 warning signs, and 1 of them makes us a bit uncomfortable.While Darling Ingredients isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Investors Will Want Darling Ingredients' (NYSE:DAR) Growth In ROCE To Persist

https://finance.yahoo.com/news/investors-want-darling-ingredients-nyse-124055489.html

7b88ced4-e112-384e-9815-0dce78e895b8

DAVE

Dave Operating LLCLOS ANGELES, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, today announced its management team will participate in the upcoming H.C. Wainwright Global Investment Conference being held September 11-13, 2023 at the Lotte New York Palace Hotel.The team will hold 1x1 meetings throughout the day on September 12, and the Company’s virtual presentation will be available starting September 11 at 7:00 a.m. ET. Please click here to register and view the on-demand presentation.To request a meeting with the Dave team, please contact your respective H.C. Wainwright representative or email the Company’s investor relations team at [email protected] DaveDave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. Dave partners with Evolve Bank & Trust, member FDIC. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on Twitter.Investor Relations ContactSean Mansouri, CFAElevate [email protected] ContactKira Sarkisian, Director of [email protected]

GlobeNewswire

Dave to Participate at the H.C. Wainwright Global Investment Conference on September 12

https://finance.yahoo.com/news/dave-participate-h-c-wainwright-123000176.html

186e3980-410b-3f01-b0e5-001bb557d0c5

DAVE

LOS ANGELES, Sept. 7, 2023 /PRNewswire/ -- Dave Inc. (Nasdaq: DAVE), one of the nation's leading neobanks, today announced that John Ricci, General Counsel, will retire on September 29, 2023. Joan Aristei has been named Chief Legal Officer, effective September 25, 2023.Dave logo (PRNewsfoto/Dave Inc.)Previously serving in both private and public sectors during his nearly 30-year legal career, John brought invaluable financial law expertise to Dave. Over the past three years, Mr. Ricci has been instrumental in Dave's success and pivotal in taking the company public in January 2022."John has been a trusted counselor, strategic business partner, and invaluable leader who drove the culture of Dave's legal and compliance team," said Jason Wilk, CEO and founder of Dave. "He strengthened the legal function while supporting the execution of our business strategy as Dave reached new milestones. I thank John for his dedicated service."Joan Aristei most recently served as General Counsel and Chief Risk Officer at Oportun. Before Oportun, Aristei was Citigroup Private Bank's Head of Banking and Lending Product Compliance. She has also served as Vice President, Chief Compliance Officer, and Assistant General Counsel at JP Morgan Chase Auto and Student Lending division, and as counsel to Nissan Motors Finance and Toyota Financial Services. Her combined decades of experience in legal, compliance, and fintech leadership will add a wealth of knowledge to the executive team and be vital to the business and legal strategy.Mr. Wilk said, "We are thrilled to welcome Joan onto our executive team. Her extensive experience and deep consumer financial services and fintech law knowledge make her an excellent fit to steer Dave's legal department as we forge ahead toward profitability."Ms. Aristei said, "I've always been drawn to companies operating at the frontier of consumer finance to expand access and equity. I look forward to leading the legal team and collaborating with leadership as Dave continues its growth."Story continuesAbout Dave:Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. Dave partners with Evolve Bank & Trust, member FDIC. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com/ and follow @davebanking on Twitter.Media ContactKira [email protected] original content to download multimedia:https://www.prnewswire.com/news-releases/dave-announces-john-riccis-retirement-names-joan-aristei-as-successor-and-chief-legal-officer-301921170.htmlSOURCE Dave Inc.

PR Newswire

Dave Announces John Ricci's Retirement, Names Joan Aristei as Successor and Chief Legal Officer

https://finance.yahoo.com/news/dave-announces-john-riccis-retirement-203000024.html

2590c6f4-1920-32f0-a3f0-f4a54daf1061

DBI

Designer Brands Inc. DBI released second-quarter fiscal 2023 results, wherein the bottom line beat the Zacks Consensus Estimate but the top line missed the same. Both earnings and net sales declined year over year.However, Designer Brands has made significant progress on strategic initiatives, achieving several exciting milestones like new collaborations and celebrity partnerships in the quarter. The portfolio of Owned Brands and National Brand partners remained robust in the quarter under review.The company is encouraged about the launch of its new athletic and athleisure offerings from Le Tigre and Keds. This move, along with a focus on strengthening ties with Nike, is in sync with the growing demand for athletic and athleisure products.While near-term challenges are likely to persist, management remains confident about its plans to optimize and highlight its exceptional product range.Designer Brands Inc. Price, Consensus and EPS SurpriseDesigner Brands Inc. price-consensus-eps-surprise-chart | Designer Brands Inc. QuoteLet’s Delve DeeperDesigner Brands reported fiscal second-quarter adjusted earnings of 59 cents per share, which beat the Zacks Consensus Estimate of 48 cents. The company recorded earnings of 62 cents per share in the year-ago period.Net sales were $792.2 million, down 7.8% year over year. The top line missed the Zacks Consensus Estimate of $795 million. Also, comparable sales decreased 8.9% year over year in the second quarter. The Zacks Consensus Estimate was a decline of 6.3%.Gross profit amounted to $273.4 million, down 7.5% from $295.7 million reported in the year-ago quarter. This was primarily driven by lesser revenues. However, the gross margin increased 10 bps to 34.5% from the prior-year period’s level.Operating expenses declined 6.2% to $214.5 million. As a percentage of net revenues, operating expenses increased 50 bps to 27.1% in the second quarter of fiscal 2023.Adjusted net income amounted to $39.4 million, down 14.5% from $46.1 million reported in the year-ago quarter.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchSegment DetailsU.S. Retail: Sales of $658.5 million decreased 10.3% year over year. The figure missed the Zacks Consensus Estimate of $673 million.Canada Retail: This segment’s sales of $70.3 million declined 10.2% year over year. The figure missed the Zacks Consensus Estimate of $78 million.Brand Portfolio: Sales of $84.2 million increased 26.9% year over year. The figure surpassed the Zacks Consensus Estimate of $66 million.Other Financial DetailsDesigner Brands ended the quarter with debt of $331 million, cash and cash equivalents of $46.2 million with $233.7 million available for borrowings under its senior secured asset-based revolving credit facility and $85 million available for borrowings by Sep 21, 2023, under its new senior secured term loan credit agreement.Total stockholders' equity was $459.8 million at the end of the quarter under review.Store UpdateDuring the second quarter, the company closed one store in the United States and one in Canada, resulting in a total of 498 U.S. stores and 138 Canadian stores as of Jul 29, 2023.Fiscal 2023 GuidanceFor fiscal 2023, Designer Brands anticipates net sales (excluding Keds) to be down mid-to high-single digits. Incremental net sales from acquisition of Keds are expected to be in the range of $75-$85 million.The company’s earnings per share (EPS), excluding Keds, are envisioned in the band of $1.20-$1.50.Shares of this Zacks Rank #3 (Hold) company have risen 47.2% in the past three months compared with the industry's growth of 6.2%.Stocks to ConsiderA few better-ranked stocks are Urban Outfitters, Inc. URBN, Abercrombie & Fitch Co. ANF and Skechers U.S.A., Inc. SKX.Urban Outfitters, which specializes in the retail and wholesale of general consumer products, sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The company’s expected EPS growth rate for three to five years is 23.8%.The Zacks Consensus Estimate for Urban Outfitters’ current fiscal-year earnings and sales indicates growth of 84.6% and 6.9% from the year-ago period’s reported figures. URBN has a trailing four-quarter average earnings surprise of 19.2%.Abercrombie & Fitch operates as a specialty retailer of premium, high-quality casual apparel. The company currently sports a Zacks Rank #1. ANF delivered a significant earnings surprise in the last reported quarter.The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal-year sales implies growth of 10.1% from the previous year’s reported number. ANF has a trailing four-quarter average earnings surprise of 724.8%.Skechers U.S.A. designs, develops, markets and distributes footwear. It currently sports a Zacks Rank #1. The company’s expected EPS growth rate for three to five years is 28.3%.The Zacks Consensus Estimate for Skechers’ current financial-year earnings and sales indicates growth of 42% and 8.7%, respectively, from the previous year’s reported numbers. SKX has a trailing four-quarter average earnings surprise of 39.1%.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 reportAbercrombie & Fitch Company (ANF) : Free Stock Analysis ReportSkechers U.S.A., Inc. (SKX) : Free Stock Analysis ReportUrban Outfitters, Inc. (URBN) : Free Stock Analysis ReportDesigner Brands Inc. (DBI) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

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Designer Brands (DBI) Q2 Earnings Beat Estimates, Sales Dip Y/Y

https://finance.yahoo.com/news/designer-brands-dbi-q2-earnings-121700796.html

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DBI

Designer Brands Inc. (NYSE:DBI) Q2 2023 Earnings Call Transcript September 7, 2023Designer Brands Inc. beats earnings expectations. Reported EPS is $0.59, expectations were $0.48.Operator: Good morning, and welcome to the Designer Brands Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I'd now like to turn the conference over to Justin Fischer, Director of Investor Relations. Please go ahead.Justin Fischer: Good morning. Earlier today, the company issued a press release comparing results of operations for the 13-week period ending July 29, 2023, to the 13-week period ended July 30, 2022. Please note that the financial results that we will reference during the remainder of today's call excludes certain adjustments recorded under GAAP unless specified otherwise. For a complete reconciliation of GAAP to adjusted earnings, please reference our press release. Additionally, please note that remarks made about the future expectations, plans and prospects of the company constitute forward-looking statements. Results may differ materially due to the various factors listed in today's press release and the company's public filings with the SEC. The company assumes no obligation to update any forward-looking statements. Joining us today are Doug Howe, Chief Executive Officer; and Jared Poff, Chief Financial Officer. Now let me turn the call over to Doug.Doug Howe : Good morning, everyone. Before discussing this quarter's performance, I want to thank our team for their dedication and hard work during the quarter that played out against a challenging macroeconomic backdrop. Because of our team's commitment to improving results, I am pleased to share that we posted overall comps that improved throughout the quarter in addition to posting sequential improvement from the first quarter. Our gross margin also increased year-over-year as well as sequentially and marked the second highest Q2 rate over the past decade. Sequential improvement along though is not enough. Within our organization, we are committed to producing year-over-year growth across our top and bottom lines. As we work towards achieving that goal consistently, I'm pleased with our team's efforts to continue reading and reacting to a highly promotional environment while simultaneously managing our inventory to an appropriate healthy level in both our retail and brand segments.Story continuesWe are also showcasing consistent operational progress. From an own brand perspective, we are very excited to have launched a completely new athleisure brand, Le TIGRE in the first month of Q3, and we are rolling out new collaborations as we diversify and strengthen our portfolio, which will drive our profitability over the longer term. I also want to take a moment to highlight a very important hire we made during the month of July. I'm thrilled to announce that Laura Denk has been brought on board as the new President of Designer Shoe Warehouse. Laura joins us with an incredible resume that includes time at Macy's, Claire and Michaels stores, most recently as Michaels Chief Merchandising Officer. Laura will bring her extensive merchandising background, ability to forge strong vendor partnerships, knowledge of augmenting customer experiences and importantly positioning and elevating owned and national brands within our DSW specific channels.With her leadership, we'll be growing our credibility as an on-trend brand builder and retailer. This will help us drive the next phase of growth and will allow me more time to focus on DBI's overall strategic priorities including driving our own brand's performance, both inside and outside of the DSW. Please join me in welcoming Laura. I recently hit the 100-day mark in my new seat as DBI's CEO, and I want to take a moment to reflect on the progress we've made and the actions we are taking to ensure we are well positioned for our next phase of growth. It has become increasingly clear to me that we have two distinct and valuable businesses, our legacy retail business and our new and growing brands business. Combined, they give us distinctive synergies that do not exist elsewhere in the industry.Laura's hire follows the organizational realignments we instituted a few months ago, which aim to align our talent and resources more closely with the needs of our different businesses, while setting the foundation for strong strategic growth. Additionally, we recently announced that Bill Jordan will be stepping down from the business. With this change, we intend to hire a seasoned brand builder to help lead our growing brands business. We are immensely thankful for the work Bill has led, to help made Designer Brands where it is today and wish him the very best. Designer Brands truly is unlike any other company in the footwear industry, and I firmly believe we have unique advantages that will deliver strategic growth into the future. Turning to our quarter's results, in the second quarter, Designer Brands net sales declined 7.8% compared to the second quarter of last year but improved 290 basis points versus the first quarter decline, driven by increasing strength in our casual offerings.Total retail comps were down 8.9%, while wholesale net sales were up roughly 20% versus last year as we integrate the Keds and Topo Athletic brands and launched our newest brand, Le TIGRE. Our long-term strategy of doubling sales of our own brands from 2021 to 2026 remains a top priority, and we continue to move full speed ahead on our journey. Year-to-date through the second quarter, our own brands penetration, including wholesale sales increased year-over-year by 60 basis points to 25% of total DBI revenue. This progress has continued into the third quarter. We are thrilled with the recent launch of Le TIGRE. We are equally proud that Topo Athletic has seen steady growth and continues to meet our expectations in terms of performance. We are also excited to continue building our success with Hush Puppies as we have now become the exclusive licensee in the U.S. and Canada, including new DTC channels and international expansion.Ranked fifth by people.com for the hottest fashion launches you need to shop for this summer, on August 1, Le TIGRE launched as our newest brand. And as of 8/14, customers were able to buy the brand at DSW. As a reminder, Le TIGRE is new to the footwear space, and we are thrilled their inaugural athletic athleisure launch is with us. The Le TIGRE brand was established in 1977, rooted in New York City street culture and timeless style, and we are bringing the Born in the City, Raised in the Wild, Ready for Anything spirit to this new collection. Their footwear line includes both women's and men's selections inspired by vintage athletic design and loaded with modern day comfort. I couldn't be more excited about the work and the strategic approach that has gone into this launch, our first ever launch of a new national brand.Turning to Hush Puppies, we recently signed an agreement to become the exclusive licensee of the brand in the U.S. and Canada. This was highly informed by the special relationship DSW already had with Wolverine related to exclusive U.S. distribution and is a stellar expansion to our comfort and casual categories in owned brands. Now as the official license, we'll take over the hushpuppies.com business, which will be our sixth independent e-commerce site, and we will have the ability to wholesale the brand in North America. Hush Puppies growth within DSW has been robust, up nearly 60% of the quarter versus last year, driven by men's with growth across casual, dress and boots. Excitingly, our first product expression is anticipated for spring of 2024.Returning to our progress in the quarter at Keds, our integration continues to advance as expected. We also launched exciting collaborations in the quarter, both with Recreational Habits and stock. First, our Recreational Habits partnership produced a sophisticated take on the court sneaker in classic white and grey colorways. Complementary to this, our Saks launch is designed to cater to the latest Pickleball Craze and court sports enthusiasts. We've implemented marketing activations at Saks complemented by a robust influencer and digital campaign. As part of this launch, we excited customers with an actual pick of all top of court inside of Saks Fifth Avenue store in New York during July. As part of our exclusive launch, the product was initially available only through Saks Fifth Avenue and [indiscernible] channels.And later this month, we are bringing the in-house to be hosted exclusively on keds.com beginning on September 22. At Crown Vintage, Emma Robert's first curated collection Emma's Fits launched during the quarter. This included engaging video content on dsw.com which drove positive customer interactions and buzz. We also have new content coming with Emma in October around seasonal boots and booties. This long-term partnership continues to strengthen our brand positioning and relevance with our Crown Vintage target customer. At Vince Camuto, we're pleased to have launched our first men's franchise shoe line, FLY365, a dress-meets-casual style hybrid shoe collection. As we build out this franchise which sets this line apart from the rest of the pack is the use of special technologies and production, not often found in non-athletic men's shoes, including features like a supportive cupsole for stability, a cushioned lightweight midsole for weight reduction and energy return and a rubber outsole for traction and durability.We have merged the European inspired Vince Camuto aesthetic with technical comfort innovation to target the modern male customer who is less likely to compromise on comfort in the post-COVID world. In fact 365 was recently highlighted in Footwear News. Growing our men's business across all of DBI remains one of our largest white space opportunities and we believe represents a significant growth lever over the long-term. We believe that our new offerings from Vince Camuto and Le TIGRE will help us gain traction with male customers that are increasingly prioritizing the unification of comfort and style. Our continued success was evident in our Q2 results, where we saw Vince Camuto men's sales up 95% in dot.com. We are also committed to strengthening our relationships and expanding our business with the national brands that are most relevant to our customers.This strategy remains on track as we continue leveraging our position as the top point of distribution. As part of our edit and amplify strategy, we continue to be excited with our Nike partnership that we announced last quarter. We will leverage this relationship to provide an athletic offering across men's, women's and kids, giving our customers an elevated physical and digital assortment. Finally, we continue to be more cognizant of providing increased value to our customers. One of our greatest strengths is our long-standing vendor relationships and associated opportunistic closeout buys with large national brands. As such, as part of our long-term relationship with Wolverine, we executed an advantageous buy that provided us with an opportunity to offer compelling savings to our customers on Sperry, Saucony, Merrell and Chalco products in the quarter.We look forward to offering additional events for our customers in the fall. Before I hand it over to Jared, I'm going to quickly speak to our full year outlook. Although we anticipate macro pressures will continue through the end of the year and in fact, have the potential to increase, today, we reaffirm our full year 2023 guidance, supported by the sequential improvement we saw from Q1 into Q2. We still have our Septober and holiday selling season ahead of us, and we continue to be laser-focused on meeting and driving demand with on-trend product. Jared will go into more detail on this in a few moments. As we move forward, we continue to prioritize value-creating opportunities and are committed to returning capital to our shareholders. In fact, year-to-date, through September 5, Designer Brands has returned $91.1 million to shareholders through a combination of dividends and share repurchases.I'll let Jared speak more on our strategic capital allocation plans for the back half of fiscal '23. I look forward to updating you all on our strategic initiatives as we move through the back half of the year. With that, I'll pass it over to Jared. Jared?10 Most Cushioned Walking Shoes for WorkPhoto by Kelvin Han on UnsplashJared Poff : Thank you, Doug, and good morning, everyone. I want to reiterate Doug's comments and say how excited I am to welcome Laura Denk as our new President of DSW. She will be a tremendous asset in driving our strategic vision for our DSW business, focusing on tactical merchandising, marketing and our overall experience, all of which will be anchored to our current and target customers. We believe that there is meaningful growth to be had at DSW and that Laura's leadership will help us unlock that growth. I share Doug's feeling of pride in our organization and this team's ability to continue managing through the increasingly challenging current environment, allowing us to deliver a second quarter adjusted EPS of $0.59, in line with our expectations.We saw sequential improvement over the first quarter in both our sales and gross margin. And as a result, we are reaffirming our current full year guidance despite continued industry and macro headwinds. Now let me provide a bit more detail on our financial results. For the second quarter, sales decreased 7.8% from last year to $792.2 million and an improvement from the first quarter's results. The continued pressure on consumers, high inventory across the industry and an extremely promotional retail environment, all contributed to this decrease. From a wholesale perspective, sales were up roughly 20%, driven by the acquisition of Keds, our launch of Le TIGRE and acquisition of Topo Athletic. In our retail segments, total retail comps were down 8.9% compared to last year, but improved sequentially from the first quarter.U.S. retail costs specifically were down 9.2% in the quarter, but also sequentially improved from a pressured Q1. While Canada posted comps down 7.3% in the quarter, this was on top of a very strong post-COVID recovery comp of just over 47% in the second quarter of 2022. We remain pleased with the results we are seeing at vincecamuto.com, one of our premier DTC channels with comps up 50 basis points on top of roughly 43% comp last year. Consolidated gross margin was 34.5% in the second quarter compared to 34.4% last year, an increase of 10 basis points and a sequential improvement of 250 basis points versus last quarter. The sequential improvement was primarily driven by lower markdowns. Importantly, our gross margin continues to be fundamentally strong with consolidated gross margin up 400 basis points compared to the second quarter of 2019.Year-over-year profitability improvement was also driven by consolidation of our fulfillment centers and significantly lower logistics costs, including freight, shipping and distribution expense. The impact of consolidating our fulfillment centers, specifically the Columbus Fulfillment Center into the New Jersey ECLC allowed us to achieve a more favorable level of fixed and variable expense leverage. This benefit was partially offset by increased promotions, the continued rebuilding of our clearance business and deleverage of our fixed store occupancy cost. Our adjusted SG&A ratio for the second quarter was 26.9% of sales compared to 26.5% in the second quarter of 2022. Although we are experiencing modest deleverage given our current retail out performance, we saw sequential improvement from a dollar and rate perspective versus first quarter.Going forward, increased marketing investment to build brand equity and maintain customer awareness could put pressure on sustaining this ratio. This trend may see volatility as we continue rolling out our new DTC sites and execute other strategic initiatives, but we will continue to pursue opportunities to trim costs across the entire business. For the second quarter, adjusted operating profit was 7.9% of sales compared to 8.2% in the prior year and sequentially improved from 3.5% in the first quarter of 2023. In the second quarter, we had $6.9 million of net interest expense and our effective tax rate on our adjusted results was 29.3% compared to 31.8% last year. Finally, our second quarter adjusted net income was $39.4 million or $0.59 diluted EPS versus $46.1 million or $0.62 last year, and $35.8 million or $0.48 in 2019.We ended the second quarter with inventories of $606.8 million, down roughly 13% compared to $694 million last year and down sequentially from $637.4 million in the first quarter. On a retail inventory square footage basis, we ended down 10% versus the second quarter of 2022 and down 4% compared to Q1 2023. Wholesale inventory ended the second quarter down 10% and adjusted for the acquisition of Topo and Keds, inventory would have been down 33% when compared to last year. Because we have remained nimble in our approach to our assortment, we feel good about our inventory positioning heading into fall, ensuring we have the flexibility necessary to chase and take action on opportunistic buys. As a reminder, at the end of the last quarter, we announced the commencement of our Dutch Auction Tender offer, which allowed us to invest in our own stock.In mid-July, we announced the final results of the offer, which included repurchasing $14.7 million of our Class A common stock at a price of $10 per share under our existing Board-approved share repurchase program. As always, we maintain an ongoing dialogue between management and our Board of Directors on our capital allocation strategy. Together, we continue to believe that our most prudent use of capital at this time is to return it to our shareholders. As a result, we have continued to purchase shares in the open market. We view this as a vote of confidence in our long-term strategy. In the first two quarters of fiscal 2023, based on trading date, we returned $32.9 million to shareholders through dividends and share repurchases. Thus far in the third quarter, we have added to that total by $58.3 million through September 5, thanks to the continued open market repurchases.We ended the quarter with $46.2 million of cash and our total liquidity, which includes cash and availability under our revolver of $279.9 million. As of the end of the quarter, we had $233.7 million available to draw on our revolving credit facility. However, given the share repurchase activity mentioned previously that has occurred since the end of the second quarter, our current availability to draw on our revolving credit facility was $227.9 million as of 9/5/2023. As a reminder, to help fund our capital allocation priorities, we previously announced that we had entered into a five-year term loan. Upon closing that facility, on June 23, 2023, we immediately drew $50 million under the term loan and anticipate drawing the additional $85 million throughout the course of the year.The proceeds of that subsequent draw will immediately be used to pay down outstanding debt under the revolving credit facility. We continue to await the receipt of the remaining $40 million of our CARES Act tax refund due to us from the IRS. We are happy to report that the IRS has formally closed our standard audit for which this refund applies with no adjustments. And as such, we are now simply waiting on the refund request to work its way through the appropriate approval channels at the IRS and Treasury Department for ultimate funding. Before I conclude, I want to share a few remarks on our current guidance. As discussed last quarter, our updated guidance assumes the continued pullback in consumer spending with a recovery delayed until later in the year.Consistent with prior views, the largest uncertainty continues to lie squarely with a discretionary consumer while also contemplating a multitude of other pressures, including competitive inventory, the health of the consumer and overall macroeconomic headwinds. Our current guidance assumes that our retail comp performance improves throughout the balance of the year as the macro pressures on the consumer begin to subside and as our prior year comparables become lighter. That being said, pressures continue to weigh on the consumer, and therefore, potential for headwinds to worsen remains. I do want to cover a few updates within our assumptions. With the previously discussed repurchase activity, our share count is now expected to be approximately 64 million weighted average diluted shares outstanding for fiscal 2023.With the new term loan, interest expense is now expected to be approximately $35 million for the full year. Thus the incremental interest of the term loan essentially offsets the benefit of the lower weighted average outstanding share count for our fiscal 2023 EPS figure. Additionally, our estimated tax rate is anticipated to be 30%. With all of this in mind, and given the sequential improvement seen in our most recent quarter in terms of sales and margins, we are reaffirming our fiscal 2023 EPS guidance range of $1.20 to $1.50. As Doug noted, we have made incredible progress in our evolution as a company, including recent leadership hires, launches of new brands, growing with existing brand partners and accelerating our journey as a brand builder.I have strong conviction in our path forward. With that, we will open the call for questions. Operator?See also 15 Most Valuable Pre-IPO Companies in The World and 10 Best Stocks To Buy For A Stock Market Game.Q&A SessionOperator: Thank you. [Operator Instructions] Today's first question comes from Gaby Carbone with Deutsche Bank. Please go ahead.Gaby Carbone : Good morning. Thanks for all the color today. So first, I was wondering if you could maybe discuss the changes you saw in category performance, if any, from 2Q versus 1Q. And then as we look to the fall season, obviously, the boot category becomes quite important. Just curious how you're thinking about inventory there. Thank you.Doug Howe : Yeah. Thanks, Gaby. This is Doug. There's really two category performance where we continue to see buoyancy in the casual category. Obviously, the capitalization trend just continues to gain momentum. [Indiscernible] reacting to that with managing the inventory. So again, we feel really good about that business in particular. Second point, we have a dominant penetration in the new category. It's very, very early on. We talked a lot about Septober, which is the key time for boot selling. So I think the majority of that season is ahead of us all. We are seeing some nice initial results on fashion goods, particularly driven by western. So we're cautiously optimistic about that. But again, the majority of the season is still ahead of us.Gaby Carbone : Got it. And if I could just sneak in one more. So moving ahead, obviously it's been promotional out there. Curious, just what kind of baked into your guidance on the promotion front. And then are there certain categories you're seeing more promotional activity? And then you mentioned that like you're still seeing high inventory levels across the marketplace. So curious if you have any view when maybe you think the marketplace will be a bit more clean.Doug Howe : Yeah. Good question. Yes, [indiscernible] done a really strong work with managing our margin and largely that is fueled by the fact that our inventory is in really good shape. So we didn't feel the need to get overly promotional. We are seeing the landscape improvement as we move through the back half, particularly in the athletic category. I think we'll start to see that inventory start to normalize, which hopefully will allow us to be less promotional. So we're saying very close to that. But as you said, it's a choppy macroeconomic environment out there. So we'll definitely stay close to it.Gaby Carbone : Great, thank you so much.Doug Howe : Thank you.Operator: [Operator Instructions] Today's next question comes from Mauricio Serna with UBS. Please go ahead.Mauricio Serna : Great. Good morning. And thanks for taking our questions. First, I wanted to ask if you could provide maybe some color on what you see on quarter-to-date performance, in any particular segment versus Q2. And if we think about second half, should we see like any big difference between the sales growth in Q3 and Q4. Then just on the margins, you talked about SG&A probably the SG&A rate probably being a little bit more pressured because of the marketing and the launching of the website. So does that mean that SG&A dollar growth will accelerate in the second half? Or how should we think about that? And then just lastly, on the balance sheet, very encouraging to see all the buyback continuing in Q3. Is there like a potential for even more given how there's also the higher leverage on the balance sheet at this point? Thank you.Doug Howe : Yeah. Thanks, Mauricio. This is Doug. There's a lot to unpack there. I think you had four questions. So I'll take the first two on the current performance and then Q3 and Q4, and I'll hand it over to Jared to speak to SG&A and the balance of the year. As you know, we don't comment on sales in the current quarter. Having said that, we haven't seen anything that would lead us to change our guidance, which is why we're maintaining our outlook. We think about sales growth in Q3 and Q4 definitely a tailwind, we feel, certainly, as regard to we're up against softer comps in Q3 and most notably in Q4. Nice tailwinds are our fall campaign that we're going to be kicking off the DSW to really focus more on bringing awareness, which we're optimistic about.And then secondly, as we shared last quarter the return of Nike, we are very excited about continuing to elevate that partnership. So again those are two tailwinds. But again, as we navigate through choppy macroeconomic environment, we're balancing, obviously those tailwinds with those headwinds.Jared Poff : And I want to echo one thing that Doug had said to make sure it's clear, we've reiterated this a few times. In our current guidance, which we reaffirmed, we are assuming there is a pretty material change in the current trajectory that we've experienced year-to-date. That's always been the case, and we believe, especially as we get against easier comps, that is why we have belief. To date, we have not seen that, but we haven't planned to see that yet, but that is what is anticipated, but that is why we called out. There is certainly, I would say, a net risk position as it pertains to the macroeconomic conditions and turning -- seeing that turn to the degree that our current guidance has in there. But for now, it is on trend and that's why we've reaffirmed guidance.To your last two questions on the SG&A, I'm actually very glad you spoke or asked about that because in my mind, right now, where the consensus modeling is probably most disconnected for the fall. I want to take you back to a moment to our initial guidance for SG&A for the year. And what we had said was that we have done the reorg that we talked about and some cost savings initiatives that stripped about $25 million year-over-year out of our legacy business. But we also have about $50 million of SG&A to add into the overall company because of Keds, Topo and the 53rd week. And right now, I'm not seeing consensus reflect that on a total year basis. In fact, it's looking like most consensus has that SG&A dollars below LY [ph]. So I think that's one of the biggest disconnects that are currently out there in consensus.So that and the new interest within the loan. I want to call you back to that which I gave guidance to, if we look at a change in SG&A dollars spring to fall, there's about a $40 million shift to kind of get to what I just talked about our full year guidance. That's coming from a few big buckets of work. One, we've got marketing. We shifted about $15 million of marketing across the company out of spring into fall as we were not seeing the traction or the incremental traction that we would have expected to see with that marketing. So we've moved that into fall. We use some of that for back-to-school. And we're very excited to be launching for the first in a long some DSW branding top of funnel marketing, very video heavy in the fall as well.So that shift has moved. We also have about $9 million of that 53rd week that's being added in there. So again, that's unique to fall, not happening in spring, and then about $4 million related to coming off the TSA with our Keds transition. That has always been the case. We just weren't sure when that was going to materialize that final month, we have a month of catch-up to do, and that happens to be in Q3. So all of that together, along with selling expenses related to an improvement in our comp performance totals about $40 million shift in SG&A between fall versus spring and more in line with that total year guidance that we gave at the beginning of the year, which I just want to make sure you guys are properly modeling. And then the last question was repurchases.Obviously, we have wanted to take advantage of what we think is a very opportunistic price. We funded that with term loan liquidity, and we've been executing. We did want to give, which we did cover in the current quarter because it was much heavier than even what we accomplished in the second quarter. And there is some remaining. We never commenced to future activities. So we quoted up through yesterday up to the fifth, but that's, I think, proof of how confident we feel in our long-term strategy.Mauricio Serna : Great. Thanks so much for all the details.Operator: Thank you. [Operator Instructions] Our next question today comes from Dylan Carden with William Blair. Please go ahead.Dylan Carden : Thank you very much. Jared, just sticking with that last, the IRS refund, primary use of addition to that [ph] or how you think about that in full?Jared Poff : Yeah, the lion's share of it is on our revolving credit facility to adjust mechanically. As soon as that comes in that will immediately be used to pay that down. We will always assess as we always do current stock price versus liquidity and overall capacity to buy. So we aren't committing to deploy that in one particular fashion. And on day one it would be used to pay down our ABL debt. But there's no commitments or earmarked for those funds at this point.Dylan Carden : Okay. And then I just want to make sure I understand kind of the balance of guidance. So you have a lot of tailwinds between comparisons in Nike, et cetera. But if the consumer sort of takes a leg down here, would that be sort of detrimental to guidance at this point, just given some of the rhetoric on?Jared Poff : Yeah. So Dylan and you hit it on the head. As we look out for the year and how we built that guidance range, we are anticipating a pretty material shift in overall year-over-year performance than what we've experienced in the spring. That's always been the case, and that's what we've always communicated. And we do have some tailwinds and you hit them on the head. We've got easier comps. We've got Nike coming in. We've got some new branding advertising going on that I just talked about. So there certainly are tailwinds. At the end of the day, though, and we've been seeing it across the entire retail lens, especially people who sell to the consumer, the discretionary consumer, we're seeing a lot of caution. And right now, I call it -- I feel like we're in a net risk position even as it pertains to our current guidance. But it really lies square with that discretionary consumer and how they're feeling it going into fall.Dylan Carden : And the last one, we haven't talked about sort of the loyalty program in a while. I'm just kind of curious how these new brands interact with or essentially built on the back of the lower number that you had and how much of your sales would happen [indiscernible]? And anything part of retail?Doug Howe : Dylan, this is Doug. Again, we're pleased with the progress of the brands that we mentioned in the remarks, Keds and Topo Athletic. And then most recently Le TIGRE, very early days on, obviously. We're excited about that as we were the first launch partner at DSW, but we believe that there's opportunity to expand that outside of DBI channels of distribution, which is a broader opportunity as we move forward in general. So everything is performing to our expectations. We feel really good about that. And I think that just goes back to the strength of our business and the fact that we have the brand segment as well as the retail segment that we did realize those sales in our own channel. So just more confidence in the strategy that we're going to be deploying going forward.Jared Poff : The one thing I would add to that, Dylan, is -- and I mentioned it with our SG&A, this month, we will be basically fully off that transition services agreement, actually a little ahead of schedule with Keds. So while, this has been a pretty transition late in the year for Keds, they've been performing at their acquisition model. We're really excited to have them now on our infrastructure for wholesale, for DTC and really excited about positioning them to start having strategic growth now that they're actually on our systems.Dylan Carden : Got it. And then just another one quick one here. Nike, can you just [technical difficulty] what the business was historically. But I think I'm right in sort of a new relationship with Nike to reengage this channel. How are you thinking about the scale of the pace of the dynamics of that relationship kind of on -- I think it launches this fourth quarter, right?Doug Howe : Yeah. Dylan, this is Doug. Again, we continue to be very optimistic about that integrated partnership with Nike. We actually are going to be delivering the product a little bit earlier than we originally anticipated, about a month earlier. We actually have some products available on our site, and we'll have a significant amount of units rolling out to our stores in the next couple of weeks. And again, that's about a month earlier than we had anticipated. So again, that is definitely a tailwind. So we feel good about that. We haven't shared specific with you with regards to how that brand would be. We shared obviously what it was historically, but we manage that very carefully as we manage all of our portfolio of brands. And it will really be informed obviously by what the customer is demanding and where we're seeing the top-line.Dylan Carden : Okay, that's all I got.Operator: Thank you. And ladies and gentlemen, this concludes our question-and-answer session. I'd like to turn the conference back over to Doug Howe for any final remarks.Doug Howe : Well, thanks everyone, for tuning in today, and I just want to reiterate thanks to our team for all their dedication as we move throughout very challenging macroeconomic backdrop. We look forward to keeping you updated on our progress as we move through the back half of the year next quarter. So thanks again.Operator: Thank you. This concludes today's conference call. We thank you all for attending today's presentation. You may now disconnect your lines and have a wonderful day.

Insider Monkey

Designer Brands Inc. (NYSE:DBI) Q2 2023 Earnings Call Transcript

https://finance.yahoo.com/news/designer-brands-inc-nyse-dbi-124116936.html

83c23a9c-fb11-3fad-be0a-9231d2ed6aee

DBX

Dropbox is ending its unlimited option because some customers were using it for purposes like crypto mining, pooling storage for personal use cases and even reselling storage. The company’s highest-tier “all the space you need” storage plan will now be capped.With this new change, customers who purchase a Dropbox Advanced plan with three active licenses will receive 15TB of storage space shared by the team — enough space to store about 100 million documents, 4 million photos or 7,500 hours of HD video, Dropbox says. Each additional active license will receive 5TB of storage."We found a growing number of customers were buying Advanced subscriptions not to run a business or organization, but instead for purposes like crypto and Chia mining, unrelated individuals pooling storage for personal use cases, or even instances of reselling storage," the company wrote in a blog post. "In recent months, we’ve seen a surge of this behavior in the wake of other services making similar policy changes. We’ve observed that customers like these frequently consume thousands of times more storage than our genuine business customers, which risks creating an unreliable experience for all of our customers."The change comes as Google removed the “as much storage as you need” product branding for its highest-tier Workspace plan in May, as noted by Bloomberg. Current customers using less than 35TB of storage per license, which is the case for over 99% of Advanced customers, will be able to keep the total amount of storage their team is using at the time they’re notified, plus an additional 5TB credit of pooled storage, for five years at no additional charge to their existing plan.For the less than 1% of customers utilizing 35TB or more of storage per license, they will be able to continue utilizing their current storage amount at the time you’re notified, plus an additional 5TB credit of pooled storage for one year (up to 1,000TB total), at no additional charge to their existing plan.Story continuesFor customers who need additional space, storage add-ons will be available for purchase for new customers on September 18 and existing customers on November 1 at 1TB for $10/month if purchased monthly or $8/month if purchased annually.Dropbox will start gradually migrating existing customers to the new policy on November 1. The company says it will notify all customers at least 30 days prior to their planned migration date.Dropbox launches $50M AI-focused venture fund, intros AI featuresThis article originally appeared on TechCrunch at https://techcrunch.com/2023/08/25/dropbox-drops-unlimited-storage-blames-crypto-miners-and-resellers-for-the-change/

TechCrunch

Dropbox drops unlimited storage, blames crypto miners and resellers for the change

https://finance.yahoo.com/news/dropbox-drops-unlimited-storage-blames-161010877.html

7bf6dbbe-e24a-354a-94f2-7d0395a796b4

DBX

While Dropbox, Inc. (NASDAQ:DBX) might not be the most widely known stock at the moment, it received a lot of attention from a substantial price increase on the NASDAQGS over the last few months. With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. However, could the stock still be trading at a relatively cheap price? Let’s take a look at Dropbox’s outlook and value based on the most recent financial data to see if the opportunity still exists. View our latest analysis for Dropbox What Is Dropbox Worth?Great news for investors – Dropbox is still trading at a fairly cheap price according to my price multiple model, where I compare the company's price-to-earnings ratio to the industry average. I’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 18.52x is currently well-below the industry average of 45.2x, meaning that it is trading at a cheaper price relative to its peers. Dropbox’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. If you believe the share price should eventually reach its industry peers, a low beta could suggest it is unlikely to rapidly do so anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range.What does the future of Dropbox look like?earnings-and-revenue-growthFuture outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. Though in the case of Dropbox, it is expected to deliver a negative earnings growth of -16%, which doesn’t help build up its investment thesis. It appears that risk of future uncertainty is high, at least in the near term.Story continuesWhat This Means For YouAre you a shareholder? Although DBX is currently trading below the industry PE ratio, the adverse prospect of negative growth brings about some degree of risk. Consider whether you want to increase your portfolio exposure to DBX, or whether diversifying into another stock may be a better move for your total risk and return.Are you a potential investor? If you’ve been keeping tabs on DBX for some time, but hesitant on making the leap, I recommend you research further into the stock. Given its current price multiple, now is a great time to make a decision. But keep in mind the risks that come with negative growth prospects in the future.So while earnings quality is important, it's equally important to consider the risks facing Dropbox at this point in time. Be aware that Dropbox is showing 4 warning signs in our investment analysis and 2 of those are potentially serious...If you are no longer interested in Dropbox, you can use our free platform to see our list of over 50 other stocks with a high growth potential.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is Now The Time To Look At Buying Dropbox, Inc. (NASDAQ:DBX)?

https://finance.yahoo.com/news/now-time-look-buying-dropbox-170043431.html

c0f1dd06-d2f7-3fc9-9db7-c0ed5a03c967

DCGO

Program will serve patients in New York and ConnecticutNEW YORK, August 15, 2023--(BUSINESS WIRE)--DocGo Inc. (Nasdaq:DCGO), a leading provider of last-mile mobile health services, announced today the launch of its partnership with EmblemHealth, one of the nation's largest not-for-profit health insurers, serving more than three million people in New York City and the tristate area.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230815023571/en/DocGo will work closely with EmblemHealth to bring timely in-home services to New York and Connecticut patients after hospitalization to close preventive health care gaps. Using a value-based model that prioritizes high-quality, in-home health care, the program will reduce hospital readmissions, lower costs, and improve health outcomes. This program marks DocGo’s launch of services into Connecticut.Through the partnership, patients will receive in-home healthcare services, including transitional care management following recent hospital discharges. Bringing care to members' homes makes preventive screenings and chronic care management more accessible. Available services include diabetic retinal eye exams, bone density tests, A1C screenings, blood pressure control support, and colorectal cancer screenings. Bringing these services into the home can lead to earlier disease detection, prevent many avoidable escalations, and help patients stay out of the hospital.This partnership represents an important step forward in DocGo’s mission to provide high-quality, accessible health care to all. "Along with partners like EmblemHealth, DocGo is leading the proactive care revolution with a nimble, technology-powered approach that brings care to patients on their terms," said Anthony Capone, CEO of DocGo. "We fill in gaps to provide faster, better, more comprehensive mobile health care solutions to traditionally underserved populations. Home-based health care has been shown to reduce hospital admissions and readmissions, lower rates of infection, and improve quality of life, and DocGo is proud to make this care more accessible and support long-term patient health."Story continuesThis collaboration is poised to make a significant impact on patients and caregivers, helping a large population of patients receive proactive care and stay healthier in their homes."High quality, accessible health care, remains out of reach for large segments of the population," says Karen Ignagni, CEO of EmblemHealth. "By working with DocGo to offer post-acute care and critical screenings at home, our efforts to reduce health care disparities and improve health equity will be strengthened. We will make it easier for our members to get the preventive care they need, help them stay out of the hospital, optimize their long-term health and wellness, and help fulfill our mission of creating healthier futures for the communities we serve."About DocGoDocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and ambulance services. DocGo disrupts the traditional four-wall healthcare system by providing high quality, highly affordable care to patients where and when they need it. DocGo's proprietary, AI-powered technology and dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks, and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit docgo.com.About EmblemHealthEmblemHealth is one of the nation’s largest nonprofit health insurers, with more than 3 million members and an 80-year legacy of serving New York’s communities. The company offers a full range of commercial and government-sponsored health plans to employers, individuals, and families, as well as convenient community resources. As a market leader in value-based care, EmblemHealth partners with top providers and hospitals to deliver quality, affordable care. For more information, visit emblemhealth.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230815023571/en/ContactsMedia:[email protected] [email protected]:Mike [email protected] [email protected] Steve HalperLifeSci [email protected] [email protected]

Business Wire

DocGo and EmblemHealth Launch Partnership to Bring In-Home Care to Patients

https://finance.yahoo.com/news/docgo-emblemhealth-launch-partnership-bring-113500413.html

808cd4af-ab46-3144-b884-938d7f584bf1

DCGO

NEW YORK, September 05, 2023--(BUSINESS WIRE)--DocGo Inc (Nasdaq: DCGO), a leading provider of last-mile mobile health services, announced today that Anthony Capone, Chief Executive Officer will present at three different investor conferences in September 2023.On Wednesday, September 13, 2023, at 3:35 Eastern Time, Mr. Capone will participate in a fireside chat at the Morgan Stanley 21st Annual Global Healthcare Conference in New York City. A webcast of the event will be available on the investor relations section of DocGo’s website at https://ir.docgo.com/.On Tuesday, September 19, Mr. Capone will be meeting with investors virtually during the Northland Investor Conference.On Wednesday, September 27 at 1:15 PM Eastern Time, Mr. Capone will participate in a fireside chat at the 2023 Cantor Global Healthcare Conference in New York City. A webcast of the event will be available on the investor relations section of DocGo’s website at https://ir.docgo.com/.About DocGoDocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and ambulance services. DocGo disrupts the traditional four-wall healthcare system by providing high quality, highly affordable care to patients where and when they need it. DocGo's proprietary, AI-powered technology and dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks, and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care.For more information, please visit www.docgo.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905959288/en/ContactsInvestors: Mike [email protected] [email protected] Steve HalperLifeSci [email protected] [email protected] Media: [email protected]

Business Wire

DocGo Announces Upcoming Participation in Three Investor Conferences in September

https://finance.yahoo.com/news/docgo-announces-upcoming-participation-three-113500692.html

1a69a3ac-d083-3daa-8fea-771c97d7bf70

DCI

MINNEAPOLIS, September 01, 2023--(BUSINESS WIRE)--Donaldson Company, Inc. (NYSE: DCI), a leading worldwide provider of innovative filtration products and solutions, today announced that Tod Carpenter, chairman, president, and chief executive officer, will present at the Jefferies Industrials Conference on Wednesday, September 6, 2023, beginning at 12:00 p.m. CT. Mr. Carpenter will also present at the Morgan Stanley 11th Annual Laguna Conference on Tuesday, September 12, 2023, beginning at 4:00 p.m. CT.WEBCAST: To listen to a live webcast of the presentations, visit the "Events & Presentations" section of Donaldson’s Investor Relations website at IR.Donaldson.com and click on the "listen to webcast" option.REPLAY: The webcast replays will be available within the "Events & Presentations" section of Donaldson’s Investor Relations website for approximately 90 days following the event.About Donaldson CompanyFounded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Diverse, skilled employees at over 140 locations on six continents partner with customers - from small business owners to R&D organizations and the world’s biggest OEM brands. Donaldson solves complex filtration challenges through three primary segments - Mobile Solutions, Industrial Solutions and Life Sciences. Additional information is available at www.Donaldson.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230901125404/en/ContactsSarika Dhadwal, (952) [email protected]

Business Wire

Donaldson to Present at the Jefferies Industrials Conference and the Morgan Stanley 11th Annual Laguna Conference

https://finance.yahoo.com/news/donaldson-present-jefferies-industrials-conference-151800310.html

cbcf82d5-95a1-3801-97f2-3a4f9af387e1

DCI

Key InsightsDonaldson Company's estimated fair value is US$75.26 based on 2 Stage Free Cash Flow to EquityCurrent share price of US$61.84 suggests Donaldson Company is potentially trading close to its fair value The US$65.60 analyst price target for DCI is 13% less than our estimate of fair valueToday we will run through one way of estimating the intrinsic value of Donaldson Company, Inc. (NYSE:DCI) by projecting its future cash flows and then discounting them to today's value. We will use the Discounted Cash Flow (DCF) model on this occasion. It may sound complicated, but actually it is quite simple!Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you. Check out our latest analysis for Donaldson Company Crunching The NumbersWe are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars:10-year free cash flow (FCF) estimate2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$367.0mUS$380.4mUS$444.1mUS$482.3mUS$511.0mUS$535.5mUS$557.0mUS$576.3mUS$593.9mUS$610.5mGrowth Rate Estimate SourceAnalyst x4Analyst x4Analyst x2Analyst x2Est @ 5.95%Est @ 4.81%Est @ 4.01%Est @ 3.45%Est @ 3.06%Est @ 2.79% Present Value ($, Millions) Discounted @ 7.4% US$342US$330US$358US$362US$357US$348US$337US$325US$311US$298("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$3.4bStory continuesAfter calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.4%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$610m× (1 + 2.2%) ÷ (7.4%– 2.2%) = US$12bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$12b÷ ( 1 + 7.4%)10= US$5.8bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$9.1b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Relative to the current share price of US$61.8, the company appears about fair value at a 18% 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.dcfImportant AssumptionsThe calculation above is very dependent on two assumptions. The first is the discount rate and the other is the 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 Donaldson Company as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.4%, which is based on a levered beta of 1.057. 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 Donaldson CompanyStrengthDebt is not viewed as a risk.Dividends are covered by earnings and cash flows.WeaknessEarnings growth over the past year underperformed the Machinery industry.Dividend is low compared to the top 25% of dividend payers in the Machinery 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.Next Steps:Although the valuation of a company is important, it ideally won't be the sole piece of analysis you scrutinize for a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Donaldson Company, we've compiled three essential factors you should explore:Financial Health: Does DCI 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 DCI's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NYSE every day. If you want to find the calculation for other stocks just search here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

A Look At The Fair Value Of Donaldson Company, Inc. (NYSE:DCI)

https://finance.yahoo.com/news/look-fair-value-donaldson-company-124905799.html

4dbb8384-8e25-331d-abeb-bae98dbeae08

DCO

Ducommun IncorporatedSANTA ANA, Calif., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) announced today that Stephen G. Oswald, the Company’s chairman, president and chief executive officer will participate in the upcoming RBC Capital Markets Global Industrials Conference on September 13th, 2023. Institutional investors are welcome to contact RBC Capital Markets to arrange one-on-one meetings with management.About Ducommun IncorporatedDucommun Incorporated delivers value-added innovative products and manufacturing solutions to customers in the aerospace, defense and industrial markets. Founded in 1849, the Company specializes in two core areas - Electronic Systems and Structural Systems - to produce complex products and components for commercial aircraft platforms, mission-critical military and space programs, and sophisticated industrial applications. For more information, visit www.ducommun.com.ContactsSuman Mookerji, Senior Vice President, Chief Financial Officer657.335.3665, [email protected]

GlobeNewswire

Ducommun to Participate in RBC Global Industrials Conference

https://finance.yahoo.com/news/ducommun-participate-rbc-global-industrials-103000014.html

40c3ebce-998c-3bc1-85d0-c993da808d89

DCO

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

DCOM

Dime Community Bancshares, Inc.Dime continues to capitalize on disruption in the marketplace from previously announced large M&A transactions involving competitorsHAUPPAUGE, N.Y., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (the “Company” or “Dime”) (NASDAQ: DCOM), the parent company of Dime Community Bank (the “Bank”), announced today that Daniel Shaya Csillag will join the Company as Group Head of a newly created Healthcare vertical. In this role, Csillag will be responsible for building out Dime’s healthcare commercial banking business in the long-term care space.Most recently, Csillag was at Valley National Bank and predecessor institution Bank Leumi, where he was Group Head of Healthcare. He joined Bank Leumi in 2017 to oversee and grow its healthcare commercial banking business.Stuart H. Lubow, President and Chief Executive Officer of Dime, said, “Daniel’s hire is the next logical step in the buildout of our middle market commercial lending business. Adding a healthcare vertical is consistent with our strategic goal of increasing the contribution of Business Loans (C&I and Owner-Occupied) to our balance sheet. His expertise in all aspects of the long-term care industry, including skilled nursing, rehabilitation, assisted living, independent living and memory care, coupled with his track record of cultivating new business opportunities and providing a superior level of service will be key assets to Dime.”ABOUT DIME COMMUNITY BANCSHARES, INC.Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $13.8 billion in assets and the number one deposit market share among community banks on Greater Long Island (1).Dime Community Bancshares, Inc. Investor Relations Contact:Avinash ReddySenior Executive Vice President – Chief Financial OfficerPhone: 718-782-6200; Ext. 5909Email: [email protected]¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

GlobeNewswire

Dime Names Daniel Shaya Csillag Head of New Healthcare Vertical

https://finance.yahoo.com/news/dime-names-daniel-shaya-csillag-113000740.html

f5f46878-0f81-3e89-b5a7-69bb4fa4d1de

DCOM

Value investing is easily one of the most popular ways to find great stocks in any market environment. After all, who wouldn’t want to find stocks that are either flying under the radar and are compelling buys, or offer up tantalizing discounts when compared to fair value?One way to find these companies is by looking at several key metrics and financial ratios, many of which are crucial in the value stock selection process. Let’s put Dime Community Bancshares DCOM stock into this equation and find out if it is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks:PE RatioA key metric that value investors always look at is the Price to Earnings Ratio, or PE for short. This shows us how much investors are willing to pay for each dollar of earnings in a given stock, and is easily one of the most popular financial ratios in the world. The best use of the PE ratio is to compare the stock’s current PE ratio with: a) where this ratio has been in the past; b) how it compares to the average for the industry/sector; and c) how it compares to the market as a whole.On this front, Dime Community Bancshares has a trailing twelve months PE ratio of 5.94, as you can see in the chart below:Zacks Investment ResearchImage Source: Zacks Investment ResearchThis level actually compares pretty favorably with the market at large, as the PE for the S&P 500 stands at about 21.49. If we focus on the long-term PE trend, Dime Community Bancshares’s current PE level puts it below its midpoint (which is 9.57) over the past five years. Moreover, the current level stands well below the highs for the stock, suggesting that it can be a solid entry point.Zacks Investment ResearchImage Source: Zacks Investment ResearchFurther, the stock’s PE also compares favorably with the Zacks classified Finance sector’s trailing twelve months PE ratio, which stands at 14.53. At the very least, this indicates that the stock is relatively undervalued right now, compared to its peers.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchWe should also point out that Dime Community Bancshares has a forward PE  ratio (price relative to this year’s earnings) of just 8, so it is fair to say that a slightly more value-oriented path may be ahead for Dime Community Bancshares stock in the near term too .P/S RatioAnother key metric to note is the Price/Sales ratio. This approach compares a given stock’s price to its total sales, where a lower reading is generally considered better. Some people like this metric more than other value-focused ones because it looks at sales, something that is far harder to manipulate with accounting tricks than earnings.Right now, Dime Community Bancshares has a P/S ratio of about 1.41. This is a bit lower than the S&P 500 average, which comes in at 3.81 right now. Also, as we can see in the chart below, this is well below the highs for this stock in particular over the past few years.Zacks Investment ResearchImage Source: Zacks Investment ResearchIf anything, this suggests some level of undervalued trading—at least compared to historical norms.Broad Value OutlookIn aggregate, Dime Community Bancshares currently has a Zacks Value Style Score of ‘B’, putting it into the top 40% of all stocks we cover from this look. This makes Dime Community Bancshares a solid choice for value investors, and some of its other key metrics make this pretty clear too.For example, the P/CF ratio (another great indicator of value) comes in at 5, which is far better than the industry average of 7.19. Clearly, DCOM is a solid choice on the value front from multiple angles.What About the Stock Overall?Though Dime Community Bancshares might be a good choice for value investors, there are plenty of other factors to consider before investing in this name. In particular, it is worth noting that the company has a Growth grade of ‘F’ and a Momentum score of ‘D’. This gives DCOM a Zacks VGM score—or its overarching fundamental grade—of ‘D’. (You can read more about the Zacks Style Scores here >>)Meanwhile, the company’s recent earnings estimates have been robust at best. The current quarter has seen two estimates go higher in the past sixty days compared to none lower, while the full year estimate has seen two up and two down in the same time period.This has had a noticeable impact on the consensus estimate though as the current quarter consensus estimate has risen by 17% in the past two months, while the full year estimate has inched higher by 2.3%. You can see the consensus estimate trend and recent price action  for the stock in the chart below:Dime Community Bancshares, Inc. Price and ConsensusDime Community Bancshares, Inc. Price and ConsensusDime Community Bancshares, Inc. price-consensus-chart | Dime Community Bancshares, Inc. QuoteDespite this positive trend, the stock has a Zacks Rank #3 (Hold), which indicates expectations of in-line performance from the company in the near term.Bottom LineDime Community Bancshares is an inspired choice for value investors, as it is hard to beat its incredible lineup of statistics on this front. However, with a sluggish industry rank (among Bottom 21% of more than 250 industries) and a Zacks Rank #3, it is hard to get too excited about this company overall. In fact, over the past two years, the Zacks Banks – Southeast industry has clearly underperformed the broader market, as you can see below:Zacks Investment ResearchImage Source: Zacks Investment ResearchSo, value investors might want to wait for analyst sentiment to turn around in this name first, but once that happens, this stock could be a compelling pick.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 reportDime Community Bancshares, Inc. (DCOM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Can Value Investors Choose Dime Community Bancshares (DCOM) Stock?

https://finance.yahoo.com/news/value-investors-choose-dime-community-133000946.html

c7bd23dd-465e-334b-98da-84f9fc16b84c

DCTH

NEW YORK, Sept. 1, 2023 /PRNewswire/ -- Delcath Systems, Inc. (Nasdaq: DCTH), an interventional oncology company focused on the treatment of primary and metastatic cancers of the liver, announced today that it raised approximately $35 million through the exercise of all the Tranche A warrants issued as part the previously announced March 29, 2023 Private Investment in Public Equity (PIPE) financing. The warrants were exercisable until the earlier of 3/31/2026 or 21 days after the U.S. Food and Drug Administration (FDA) approval of the HEPZATO KIT (melphalan) for Injection/Hepatic Delivery System, which occurred on August 14, 2023. Tranche B warrants, also issued as part of the PIPE financing, could generate approximately $25 million in additional proceeds and are exercisable until the earlier of 3/31/2026 or 21 days following the Company's public announcement of recording at least $10 million in quarterly U.S. revenue from the commercialization of HEPZATO.Delcath Systems, Inc. (PRNewsfoto/Delcath Systems, Inc.)The FDA approval and additional financing triggers an extension of the interest-only period from September 30, 2023, to December 31, 2023, for an existing loan agreement with Avenue Venture Opportunities Fund, L.P."With the exercise of these warrants we have, as planned, accessed adequate capital to fund the commercial launch of HEPZATO KIT without adding to our fully diluted share count," said Gerard Michel, Delcath's Chief Executive Officer. Mr. Michel continued, "We can now focus on providing access to HEPZATO KIT to uveal melanoma patients as well as expanding our development efforts to treat other liver dominant cancers."The Company plans to have commercial product available for uveal melanoma patients by the end of 2023. Until that time patients will continue to be enrolled and treated at Expanded Access Program (EAP) sites.About HEPZATO KITHEPZATO KIT is a liver-directed treatment for adult patients with metastatic uveal melanoma (mUM) with unresectable hepatic metastases affecting less than 50% of the liver and no extrahepatic disease, or extrahepatic disease limited to the bone, lymph nodes, subcutaneous tissues, or lung that is amenable to resection or radiation.Story continuesHEPZATO KIT is a combination product that administers HEPZATO (melphalan), a well-known and long-approved chemotherapeutic agent, directly to the liver through Delcath's novel Hepatic Delivery System (HDS), which permits higher drug exposure in target tissues while limiting systemic toxicity. The use of the HDS allows a healthcare provider team to surgically isolate the liver while the hepatic venous blood is filtered during melphalan infusion and subsequent washout during a Percutaneous Hepatic Perfusion (PHP) procedure. PHP, which can only be performed with Delcath's HDS, resulting in loco-regional delivery of a relatively high melphalan dose.Please see the full Prescribing Information, including BOXED WARNING for the HEPZATO KIT.Important Safety Information Patients eligible for HEPZATO should NOT have any of the following medical conditions:Active intracranial metastases or brain lesions with a propensity to bleedLiver failure, portal hypertension, or known varices at risk for bleedingSurgery or medical treatment of the liver in the previous 4 weeksActive cardiac conditions including unstable or severe angina or myocardial infarction), worsening or new-onset congestive heart failure, significant arrhythmias, or severe valvular diseaseHistory of allergies or known hypersensitivity to melphalan or a component or material utilized within the HEPZATO KIT including natural rubber latex, heparin, and severe hypersensitivity to iodinated contrast not controlled by antihistamines and steroidsMost common adverse reactions or laboratory abnormalities occurring with HEPZATO treatment are thrombocytopenia, fatigue, anemia, nausea, musculoskeletal pain, leukopenia, abdominal pain, neutropenia, vomiting, increased alanine aminotransferase, prolonged activated partial thromboplastin time, increased alkaline phosphatase, increased aspartate aminotransferase and dyspnea.Severe peri-procedural complications including hemorrhage, hepatocellular injury, and thromboembolic events may occur via hepatic intra-arterial administration of HEPZATO. HEPZATO is available only through a restricted program under a Risk Evaluation and Mitigation Strategy called the HEPZATO KIT REMS. Myelosuppression with resulting severe infection, bleeding, or symptomatic anemia may occur with HEPZATO. Additional cycles of HEPZATO therapy will be delayed until blood counts have improved.Please see the full Prescribing Information, including BOXED WARNING for the HEPZATO KIT. About Delcath Systems, Inc.Delcath Systems, Inc. is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. The Company's proprietary products, HEPZATO KIT (melphalan for Injection/Hepatic Delivery System), approved for use in the United States by FDA, and CHEMOSAT Hepatic Delivery System for Melphalan percutaneous hepatic perfusion (PHP), designated under the medical device regulation for use in Europe and the United Kingdom, are designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects during a PHP procedure. For more information regarding HEPZATO KIT and its use, including Important Safety Information and Boxed Warning, please visit HEPZATOKIT.com. For more information regarding CHEMOSAT and its use, please visit Chemosat.com.Forward Looking StatementsThe Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by the Company or on its behalf. This press release contains forward-looking statements, which are subject to certain risks and uncertainties, that can cause actual results to differ materially from those described. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that may cause such differences include, but are not limited to, uncertainties relating to: the Company's commercialization plans and its ability to successfully commercialize the HEPZATO KIT; the Company's successful management of the HEPZATO KIT supply chain, including securing adequate supply of critical components necessary to manufacture and assemble the HEPZATO KIT; successful FDA inspections of the facilities of the Company and those of its third-party suppliers/manufacturers; the Company's successful implementation and management of the HEPZATO KIT Risk Evaluation and Mitigation Strategy; the potential benefits of the HEPZATO KIT as a treatment for patients with primary and metastatic disease in the liver; the Company's ability to obtain reimbursement for the HEPZATO KIT; and the Company's ability to successfully enter into any necessary purchase and sale agreements with users of the HEPZATO KIT. For additional information about these factors, and others that may impact the Company, please see the Company's filings with the Securities and Exchange Commission, including those on Forms 10-K, 10-Q, and 8-K. However, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date they are made.Contact:Investor Relations Contact:Ben ShamsianLytham [email protected] original content to download multimedia:https://www.prnewswire.com/news-releases/delcath-systems-inc-announces-additional-35-million-in-funding-tied-to-the-fda-approval-of-hepzato-kit-301916124.htmlSOURCE Delcath Systems, Inc.

PR Newswire

Delcath Systems, Inc. Announces Additional $35 Million in Funding Tied to the FDA Approval of HEPZATO KIT™

https://finance.yahoo.com/news/delcath-systems-inc-announces-additional-180700443.html

05acfd71-649b-38a5-88ae-710ee96c8762

DCTH

NEW YORK, Sept. 5, 2023 /PRNewswire/ -- Delcath Systems, Inc. (Nasdaq: DCTH), an interventional oncology company focused on the treatment of primary and metastatic cancers of the liver, will participate at the H.C Wainwright 25th Annual Global Investor Conference. Delcath CEO, Gerard Michel will present on September 13 at 11:00 AM ET.Delcath Systems, Inc. (PRNewsfoto/Delcath Systems, Inc.)A webcast of the presentation will be available at https://delcath.com/investors/events-presentations/. A replay of the presentation will be available following the event.Management is scheduled to host one-on-one meetings throughout the event. Investors interested in arranging one-on-one meetings should contact your conference representative. You may also call or email Ben Shamsian of Lytham Partners at 646-829-9701, or [email protected] Delcath Systems, Inc.Delcath Systems, Inc. is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. The Company's proprietary products, HEPZATO KIT (melphalan for Injection/Hepatic Delivery System), approved for use in the United States by FDA, and CHEMOSAT Hepatic Delivery System for Melphalan percutaneous hepatic perfusion (PHP), designated under the medical device regulation for use in Europe and the United Kingdom, are designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects during a PHP procedure. For more information regarding HEPZATO KIT and its use, including Important Safety Information and Boxed Warning, please visit HEPZATOKIT.com. For more information regarding CHEMOSAT and its use, please visit Chemosat.com.Contact:Investor Relations Contact:Ben ShamsianLytham [email protected] original content to download multimedia:https://www.prnewswire.com/news-releases/delcath-systems-to-participate-at-the-hc-wainwright-25th-annual-investor-conference-on-september-12-and-13-2023-301918196.htmlSOURCE Delcath Systems, Inc.

PR Newswire

Delcath Systems to Participate at the H.C. Wainwright 25th Annual Investor Conference on September 12 and 13, 2023

https://finance.yahoo.com/news/delcath-systems-participate-h-c-200000101.html

f78daf16-50dd-3678-a379-af7a952829b1

DD

DuPont de Nemours, Inc. DD has announced the successful conclusion of its $3.25 billion accelerated share repurchase (ASR) transaction, which was initiated last November and referred to as the ‘$3.25B ASR transaction.’ Additionally, the company has disclosed its engagement in new accelerated share repurchase agreements with various counterparties, aiming to repurchase a total of $2 billion worth of common stock, known as the "$2B ASR transaction."Regarding the $3.25B ASR transaction's completion, DuPont has effectively received and retired an additional 8 million shares of its common stock. Throughout the $3.25B ASR transaction, the company has received and retired a total of 46.8 million shares of DuPont common stock, with an average purchase price of $69.44 per share.In conjunction with the commencement of the $2B ASR transaction, DuPont will pay $2 billion this week. In return, the company will receive and retire 21.2 million shares of DuPont common stock, equivalent to 80% of the transaction value, as determined by DuPont's closing share price on September 5.Upon completion, the ultimate number of shares to be received and retired under the $2B ASR transaction will be ascertained. This calculation will consider DuPont common stock's overall transaction value and the volume-weighted average share price during the transaction's duration. DuPont anticipates finalizing the $2B ASR transaction within the first quarter of 2024.DuPont’s shares have risen 35% in a year compared with the 7.8% rise recorded by the industry.Zacks Investment ResearchImage Source: Zacks Investment ResearchDuPont reported second-quarter adjusted earnings of 85 cents per share, surpassing the Zacks Consensus Estimate of 83 cents. Net sales were $3,094 million, down 7% from the previous year but beating the Zacks Consensus Estimate of $3,002.6 million.In its second-quarter call, DuPont provided guidance for 2023, expecting net sales to be in the range of $12,450-$12,550 million, with adjusted earnings per share (EPS) forecasted to be $3.40-$3.50. For the third quarter of 2023, the company anticipates net sales of around $3,150 million and adjusted EPS of approximately 84 cents.Story continuesDuPont de Nemours, Inc. Price and Consensus DuPont de Nemours, Inc. Price and ConsensusDuPont de Nemours, Inc. price-consensus-chart | DuPont de Nemours, Inc. Quote Zacks Rank & Key PicksDuPont currently carries a Zacks Rank #3 (Hold).A few better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation CRS, Akzo Nobel N.V. AKZOY and Hawkins, Inc. HWKN, each sporting a Zacks Rank #1 (Strong Buy). 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, indicating a 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 85.7% in the past year.The consensus estimate for Akzo Nobel’s current-year earnings is pegged at $1.44, indicating year-over-year growth of 67.4%. In the past 60 days, AKZOY’s current-year earnings estimate has been revised upward by 2.9%. The company’s shares have rallied 24.9% in the past year.The consensus estimate for Hawkins’ current-year earnings is pegged at $3.40, indicating year-over-year growth of 18.9%. HWKN beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have rallied 63.3% 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 reportDuPont de Nemours, Inc. (DD) : Free Stock Analysis ReportCarpenter Technology Corporation (CRS) : Free Stock Analysis ReportAkzo Nobel NV (AKZOY) : Free Stock Analysis ReportHawkins, Inc. (HWKN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

DuPont (DD) to Repurchase $2B Stock in New ASR Transaction

https://finance.yahoo.com/news/dupont-dd-repurchase-2b-stock-151500486.html

b9040904-39f8-35e5-8d0d-0a18955ebe90

DD

DuPont de Nemours, Inc. DD is gaining from its productivity and pricing actions, innovation-driven investment and the Spectrum Plastics Group acquisition amid headwinds including demand softness in certain areas.The company’s shares are up 29.4% over a year, compared with the 1.6% rise of its industry. Zacks Investment ResearchImage Source: Zacks Investment ResearchLet’s find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment. Productivity, Innovation & Spectrum Buyout to Aid ResultsDuPont remains focused on driving growth though innovation and new product development. Its innovation-driven investment is focused on several high-growth areas. DD remains committed to drive returns from its R&D investment.The company recently completed the buyout of leading manufacturer of specialty medical devices and components, Spectrum Plastics Group from AEA Investors for $1.75 billion. The acquired business, with annual sales of around $500 million, has been integrated into the industrial solutions line of business within the Electronics & Industrial segment.The acquisition strengthens DuPont’s existing position in stable and fast-growing healthcare end-markets. It is also in sync with its focus on high-growth, customer-driven innovation for the healthcare market. The addition of Spectrum is expected to boost revenues in the Electronics & Industrial segment in the third quarter.DuPont is also benefiting from cost synergy savings and productivity improvement actions. Its structural cost actions are contributing to its bottom line. It also continues to implement strategic price increases in the wake of raw material and energy cost inflation. These actions are likely to support its results in 2023. The company is also managing its portfolio with an aim for value creation. It is divesting non-core assets to focus more on high-growth, high-margin businesses.Weakness in Water Business AilsThe company’s water business faces challenges from the slowdown in China. Its water solutions business is expected to see sales moderation in the second half of 2023 due to softer demand in China resulting from the slowdown in the industrial economy.The softness in construction end-markets is also expected to impact the shelter solutions business within the Water & Protection segment in 2023. Also, customer de-stocking in shelter solutions is expected to continue through the third quarter.DuPont’s move to adjust production rates is also expected to impact its top line and margins. The company is taking actions to reduce production rates in electronics to align inventory with demand. Production rate reductions are expected to be a drag on sales and operating EBITDA in the third quarter of 2023.Story continues DuPont de Nemours, Inc. Price and Consensus DuPont de Nemours, Inc. Price and ConsensusDuPont de Nemours, Inc. price-consensus-chart | DuPont de Nemours, Inc. Quote Stocks to ConsiderBetter-ranked stocks worth a look in the basic materials space include Carpenter Technology Corporation CRS, Hawkins, Inc. HWKN and Akzo Nobel N.V. AKZOY.The Zacks Consensus Estimate for current fiscal-year earnings for CRS is currently pegged at $3.48, implying year-over-year growth of 205.3%. Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Carpenter Technology has a trailing four-quarter earnings surprise of roughly 10%, on average. The stock has rallied around 72% in a year.Hawkins currently carrying a Zacks Rank #1. It has a projected earnings growth rate of 18.9% for the current year.Hawkins has a trailing four-quarter earnings surprise of roughly 25.6%, on average. HWKN shares are up around 63% in a year.Akzo Nobel currently carries a Zacks Rank #1. The Zacks Consensus Estimate for AKZOY's current-year earnings has been revised 2.9% upward over the past 60 days.The Zacks Consensus Estimate for current fiscal-year earnings for Akzo Nobel is currently pegged at $1.44, implying year-over-year growth of 67.4%. AKZOY shares have gained around 22% in a 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 reportDuPont de Nemours, Inc. (DD) : Free Stock Analysis ReportCarpenter Technology Corporation (CRS) : Free Stock Analysis ReportAkzo Nobel NV (AKZOY) : Free Stock Analysis ReportHawkins, Inc. (HWKN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why You Should Retain DuPont (DD) Stock in Your Portfolio

https://finance.yahoo.com/news/why-retain-dupont-dd-stock-134200585.html

9ee6c94f-0a93-3998-97a6-5b8a21fa2e70

DDD

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

GlobeNewswire

3D Systems Provides Statement on Ongoing Partnership with Align Technology

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

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

DDD

A month has gone by since the last earnings report for 3D Systems (DDD). Shares have lost about 25.5% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is 3D Systems due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.3D Systems Q2 Loss Meets Estimates, Revenues Miss3D Systems reported mixed second-quarter 2023 results, wherein the bottom line matched the Zacks Consensus Estimate, but the top line fell short of the same. The company reported a second-quarter 2023 non-GAAP loss of 7 cents per share, in line with the consensus mark.The bottom line was also flat with the year-ago quarter as the negative impact of reduced revenues was fully offset by the benefits of an improved gross margin and higher interest income earned on cash and cash equivalents due to an increased interest rate.In the second quarter of 2023, 3D Systems reported revenues of $128.2 million, down 8.5% from the year-ago quarter, which missed the consensus mark of $134.3 million. On a constant-currency basis, revenues decreased 8.7% year over year. The dismal top-line performance reflects lower sales to certain dental orthodontic market customers due to macroeconomic headwinds that are negatively impacting the demand for elective dental procedures.Second-Quarter in DetailIn the second quarter, Product revenues represented 69.6% of the total revenues and decreased 14.1% to $89.2 million. Revenues from Services, which accounted for the remaining 30.4% of revenues, climbed 7.6% year over year to $39 million. Our estimates for the Product and Services segments revenue were pegged at $95.6 million and $40.9 million, respectively.On the basis of market type, revenues from the Healthcare segment fell 15.2% year over year to $60.9 million. On a constant-currency basis, the segment’s revenues plunged 15.4% year over year, mainly due to continued softness across the dental orthodontic market. Our model estimate for Healthcare division was pegged at $63.4 million.The Industrial Division’s revenues decreased 1.4% year over year to $67.3 million. On a constant-currency basis, the segment’s revenues declined 1.7%. Our model estimate for Industrial division was pegged at $73.1 million.In the second quarter of 2023, 3D Systems’ non-GAAP gross profit decreased 6.3% year over year to $49.9 million. However, the non-GAAP gross profit margin expanded 110 basis points to 39%, mainly driven by favorable pricing, a product mix and the benefits of cost optimization initiatives.Adjusted EBITDA was negative $6.9 million, $4.3 million higher than the year-ago quarter. An increased adjusted EBITDA loss reflects the negative impact of lower sales volumes, an inflationary impact on input costs and continued investments for portfolio & business growth.Story continuesBalance Sheet DetailsThe company exited the second quarter with cash, cash equivalents and short-term investments of $491.6 million, lower than the previous quarter's $529.9 million. As of Jun 30, 2023, 3D Systems had total debt of $450.8 million, slightly up from the previous quarter’s $450.2 million.In the first half of 2023, the company utilized $46.3 million of cash from operational activities.Lowered 2023 GuidanceBattered by the dismal second-quarter performance, 3D Systems lowered its revenue guidance for the full-year 2023. The company now expects 2023 revenues in the range of $525-$545 million, down from the previous guidance in the band of $545-$575 million.It now projects to exit the fourth quarter with positive adjusted EBITDA. Earlier, the company had projected adjusted EBITDA of $2 million or better in 2023.However, 3D Systems still forecasts the non-GAAP gross profit margin in the 40 range.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.VGM ScoresAt this time, 3D Systems has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, 3D Systems has a Zacks Rank #2 (Buy). We expect an above average 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 report3D Systems Corporation (DDD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is 3D Systems (DDD) Down 25.5% Since Last Earnings Report?

https://finance.yahoo.com/news/why-3d-systems-ddd-down-153028981.html

f8265ebf-0b70-3e3d-8059-e1f45f3ad4fd

DE

On September 08, 2023, Deere (NYSE:DE) saw a 2.93% decrease in its daily stock price, standing at $399.66. Despite this, the company has shown a 5.22% gain over the last three months. The Earnings Per Share (EPS) of Deere is currently at 33.84, prompting the question: Is Deere modestly undervalued? In this article, we will delve into a comprehensive valuation analysis of Deere to answer this question.Company OverviewWarning! GuruFocus has detected 6 Warning Signs with IP. Click here to check it out. DE 30-Year Financial DataThe intrinsic value of DEDeere & Co (NYSE:DE), recognized as a global leader in agricultural equipment manufacturing, produces some of the most iconic machines in the heavy machinery industry. The company operates through four segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. Its extensive dealer network includes over 2,000 locations in North America and approximately 3,700 locations worldwide. John Deere Capital provides retail financing for machinery to its customers and wholesale financing for dealers, promoting Deere product sales.Unveiling Deere (DE)'s Value: Is It Really Priced Right? A Comprehensive GuideUnderstanding Deere's GF ValueThe GF Value is a unique measure that represents the current intrinsic value of a stock. It's derived from three factors: historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates. The GF Value Line gives an overview of the fair trading value of the stock.Deere (NYSE:DE) appears to be modestly undervalued based on the GF Value. With a current price of $399.66 per share and a market cap of $115.10 billion, the stock's future return is likely to be higher than its business growth due to its under-valuation.Unveiling Deere (DE)'s Value: Is It Really Priced Right? A Comprehensive GuideLink: These companies may deliever higher future returns at reduced risk.Deere's Financial StrengthBefore investing in a company, it's crucial to assess its financial strength. Investing in companies with poor financial strength poses a higher risk of permanent loss. Deere's cash-to-debt ratio stands at 0.12, which is lower than 85.07% of 201 companies in the Farm & Heavy Construction Machinery industry. However, Deere's overall financial strength is fair, with a rating of 5 out of 10.Story continuesUnveiling Deere (DE)'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 less risky. Deere has been profitable for 10 out of the past 10 years, with an operating margin of 23.15%, ranking better than 96.02% of 201 companies in the industry. Overall, Deere's profitability is strong, with a rank of 8 out of 10.Deere's growth is another important factor in its valuation. The company's average annual revenue growth is 11.8%, ranking better than 66.84% of 196 companies in the industry. Its 3-year average EBITDA growth is 18.6%, ranking better than 67.63% of 173 companies in the industry.ROIC vs WACCComparing a company's Return on Invested Capital (ROIC) and the Weighted Average Cost of Capital (WACC) is another way to assess its profitability. Deere's ROIC is 14.16, and its WACC is 8, indicating that the company generates cash flow well relative to the capital it has invested in its business.Unveiling Deere (DE)'s Value: Is It Really Priced Right? A Comprehensive GuideConclusionIn conclusion, Deere's stock appears to be modestly undervalued. The company's financial condition is fair, and its profitability is strong. Its growth ranks better than 67.63% of 173 companies in the Farm & Heavy Construction Machinery industry. For more detailed financial information about Deere, you can check out its 30-Year Financials here.To find out high-quality companies that may deliver above-average returns, check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Unveiling Deere (DE)'s Value: Is It Really Priced Right? A Comprehensive Guide

https://finance.yahoo.com/news/unveiling-deere-value-really-priced-233211135.html

f2ff7d81-3de8-305d-8aa1-72508a8e55f2

DE

Fool.com contributor Parkev Tatevosian compares Coca-Cola (NYSE: KO) and Deere (NYSE: DE) from the perspective of dividend stock investors to determine which is the better buy right now. *Stock prices used were the afternoon prices of Sept.Continue reading

Motley Fool

Best Dividend Stock to Buy: Coca-Cola Stock vs. Deere Stock

https://finance.yahoo.com/m/85ad4071-94b4-31df-9bdb-d9c7dbeca72c/best-dividend-stock-to-buy-.html

85ad4071-94b4-31df-9bdb-d9c7dbeca72c

DERM

Journey Medical Corporation DERM announced entering into an exclusive licensing agreement with Japanese dermatology company, Maruho Co., Ltd., granting Maruho the development and commercialization rights to Qbrexza (Rapifort / DRM04 / glycopyrronium tosylate hydrate) for the treatment of hyperhidrosis in certain Asian countries.The territory of operations, granted to Maruho in the licensing deal, includes South Korea, Taiwan, Hong Kong, Macau, Thailand, Indonesia, Malaysia, Philippines, Singapore, Vietnam, Brunei, Cambodia, Myanmar and Laos.Qbrexza is a self-administered once-daily anticholinergic topical prescription treatment. It is currently approved in the United States and Japan for treating primary axillary hyperhidrosis in adult and pediatric patients aged nine years and older.Per the terms of the agreement, Journey Medical is entitled to receive an upfront payment of $19 million, which is non-refundable, from Maruho. Notably, Maruho will bear all costs for the development and commercialization program of Qbrexza in its territory.The stock of Journey Medical surged about 18.4% on Wednesday in response to the encouraging news. The awaited upfront payment will provide the company with an influx of cash. Year to date, shares of DERM have shot up 30.7% against the industry’s 3.4% fall.Zacks Investment ResearchImage Source: Zacks Investment ResearchThe company already collaborated with Maruho to develop and commercialize Qbrexza in Japan.In addition to the new licensing agreement, DERM also reported that the companies have been negotiating to amend its existing license agreement that grants Maruho the exclusive rights to Qbrexza in Japan.Per the company, the amendment contains modifications that reduce certain royalty and milestone obligations payable to Journey Medical. It also comprises other changes to certain economic sharing obligations. However, under the terms of the amendment, DERM is still eligible to receive certain milestone payments, totaling up to $45 million.Story continuesHyperhidrosis is a dermatological condition that causes abnormally increased sweating in certain areas of the body than what is required for normal thermal regulation. Hyperhidrosis is not life-threatening, but it can severely affect the quality of the life of patients suffering from it.We would like to remind the investors that in 2021, Journey Medical acquired global rights to Qbrexza from Dermira, Inc., a subsidiary of Eli Lilly and Company, for an upfront payment of $12.5 million. The company is also liable to pay Dermira up to $144 million in the aggregate upon the achievement of certain net sales milestones.Journey Medical Corporation Price and ConsensusJourney Medical Corporation Price and ConsensusJourney Medical Corporation price-consensus-chart | Journey Medical Corporation QuoteZacks Rank and Stocks to ConsiderJourney Medical currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the overall medical sector are Dynavax Technologies DVAX, Better Therapeutics BTTX and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 30 days, the Zacks Consensus Estimate for Dynavax’s 2023 loss per share has remained constant at 24 cents. The estimate for Dynavax’s 2024 earnings per share is currently pegged at 2 cents. Year to date, shares of DVAX have risen by 30.5%.DVAX’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 25.78%.In the past 30 days, the Zacks Consensus Estimate for Better Therapeutics’ 2023 loss per share has narrowed from $1.33 to $1.28. During the same period, Better Therapeutics’ 2024 loss per share has also narrowed from 83 cents to 80 cents. Year to date, shares of BTTX have lost 40.5%.BTTX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 24.22%.In the past 30 days, the Zacks Consensus Estimate for Corcept’s 2023 earnings per share has gone up from 75 cents to 78 cents. The estimate for Corcept’s 2024 earnings per share has also improved from 81 cents to 83 cents. Year to date, shares of CORT have climbed 55.2%.CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDynavax Technologies Corporation (DVAX) : Free Stock Analysis ReportCorcept Therapeutics Incorporated (CORT) : Free Stock Analysis ReportJourney Medical Corporation (DERM) : Free Stock Analysis ReportBetter Therapeutics, Inc. (BTTX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Journey Medical (DERM) & Maruho Ink Deal for Qbrexza Asia Rights

https://finance.yahoo.com/news/journey-medical-derm-maruho-ink-154500700.html

3b7b3417-074f-343d-adad-93e32aa02a89

DERM

On September 6, 2023, Claude Maraoui, President & CEO of Journey Medical Corp (NASDAQ:DERM), made a significant insider purchase of 26,044 shares of the company's stock. This move is noteworthy as insider buying can often be a positive indicator for the company's future performance.Warning! GuruFocus has detected 8 Warning Signs with DERM. Click here to check it out. DERM 30-Year Financial DataThe intrinsic value of DERMBut who is Claude Maraoui? Maraoui is the President & CEO of Journey Medical Corp, a company that is focused on identifying, acquiring and strategically commercializing innovative, differentiated dermatology products through its efficient sales and marketing model. The company has a robust portfolio of approved dermatology products and is dedicated to improving patient experiences in their journey to treat skin conditions.Journey Medical Corp is a leading player in the dermatology market. The company's business model is centered around acquiring and commercializing innovative and differentiated dermatology products. With a market cap of $53.495 million, Journey Medical Corp is a small-cap company with a significant potential for growth.Over the past year, the insider has made a total of 26,044 purchases and sold 65,144 shares. This recent acquisition by Maraoui is a positive sign, as it indicates a strong belief in the company's future prospects.The insider transaction history for Journey Medical Corp shows a total of 2 insider buys over the past year, compared to 6 insider sells over the same timeframe. This could suggest a mixed sentiment among insiders about the company's future performance.On the day of Maraoui's recent buy, shares of Journey Medical Corp were trading for $2.52 apiece. This gives the stock a market cap of $53.495 million.Insider Buying: Journey Medical Corp's President & CEO Claude Maraoui Acquires 26,044 SharesThe above insider trend image shows a clear picture of the insider buying and selling activities at Journey Medical Corp. The image indicates a higher number of insider selling activities compared to buying activities over the past year. However, the recent purchase by the insider could potentially signal a shift in this trend.In conclusion, the recent insider buying activity by Claude Maraoui, the President & CEO of Journey Medical Corp, is a positive sign for the company. Despite the higher number of insider selling activities over the past year, the insider's recent purchase could potentially signal a positive shift in the company's future performance. As always, investors should consider this insider buying activity as part of a broader analysis of Journey Medical Corp's financial health and market conditions.This article first appeared on GuruFocus.

GuruFocus.com

Insider Buying: Journey Medical Corp's President & CEO Claude Maraoui Acquires 26,044 Shares

https://finance.yahoo.com/news/insider-buying-journey-medical-corps-050430603.html

04bd3255-66b8-3e4f-8738-c0463f1b0d50

DFS

RIVERWOODS, Ill., September 05, 2023--(BUSINESS WIRE)--Discover Financial Services (NYSE: DFS) today announced that Kathy "Moe" Lonowski has been appointed to the Boards of Directors of Discover Financial Services and its subsidiary, Discover Bank, effective immediately. She will serve on the Boards’ Risk Oversight Committee.Moe has 38 years of bank regulatory experience, including with prudential oversight of some of the largest financial institutions in the U.S. She recently retired as Regional Director of the Federal Deposit Insurance Corporation (FDIC), San Francisco Region, a role she held since 2016. As Director of the San Francisco Region, the FDIC’s largest in terms of Gross Domestic Product, Moe evaluated the operations of 350 insured financial institutions and led the risk management and consumer protection divisions covering 11 western states. She also supported the management of examination and legal risk-related technical issues and assessed solutions related to potential enforcement actions and civil money penalties.Prior to her role as Regional Director for the San Francisco Region, Moe served as an FDIC Deputy Regional Director, Risk Management Supervision, and Field Supervisor, Risk Management Supervision."Kathy’s knowledge and depth of experience gained during her tenure with the FDIC make her an excellent addition to our Board," said Tom Maheras, Chairman of the Board. "With compliance being a top priority at Discover, Kathy’s expertise with regulatory issues and understanding of the financial services industry will help make the company more effective in managing risk."About DiscoverDiscover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover® card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network® comprised of Discover Network, with millions of merchants and cash access locations; PULSE®, one of the nation's leading ATM/debit networks; and Diners Club International®, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230905226752/en/ContactsMedia Contact Matthew [email protected] @Discover_NewsInvestor Relations Eric [email protected]

Business Wire

Discover Financial Services and Discover Bank Appoint Kathy "Moe" Lonowski to Their Boards of Directors

https://finance.yahoo.com/news/discover-financial-services-discover-bank-211500788.html

c02c2ebd-2c1b-3850-ab0f-b29318f2695a

DFS

Plus Motley Fool personal finance expert Robert Brokamp and contributor Matt Frankel discuss what to do if your consumer debt is getting more expensive. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center.Continue reading

Motley Fool

A Look at the Consumer Debt Situation

https://finance.yahoo.com/m/1e3e5630-1646-3693-b397-584aa6b7a03d/a-look-at-the-consumer-debt.html

1e3e5630-1646-3693-b397-584aa6b7a03d

DG

The two retailers are in the same basic business, but their different tactics are making a world of difference.Continue reading

Motley Fool

3 Reasons Walmart Is Winning and Dollar General Isn't

https://finance.yahoo.com/m/65f04404-fc07-34cc-8725-7520ca426ec9/3-reasons-walmart-is-winning.html

65f04404-fc07-34cc-8725-7520ca426ec9

DG

Last quarter's reports were all over the map, but they actually make a lot of sense when you step back and look at the bigger picture.Continue reading

Motley Fool

4 Important Investor Takeways From Retailers' Q2 Earnings

https://finance.yahoo.com/m/b7a9f766-bd40-31e9-b309-cd7d3fce2fa8/4-important-investor-takeways.html

b7a9f766-bd40-31e9-b309-cd7d3fce2fa8

DGLY

ParticipantsBrody J. Green; President; Digital Ally, Inc.Stanton E. Ross; Chairman & CEO; Digital Ally, Inc.Thomas J. Heckman; CFO, VP, Treasurer & Secretary; Digital Ally, Inc.Bryan LubitzDerek GreenbergRommel Tolentino Dionisio; Head of Consumer Products and Special Situations; Aegis Capital Corporation, Research DivisionPresentationOperatorGood morning, ladies and gentlemen, and welcome to the Digital Ally Inc. Second Quarter 2023 Operating Results Conference. (Operator Instructions) This conference call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We may use words and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters rather they represent forward-looking statements. These forward-looking statements are based largely on our expectations or forecasts of future events, can be affected by inaccurate assumptions and are subject to various business risks and known and unknown uncertainties, a number of which are beyond our control. Therefore, actual results could differ materially from the forward-looking statements expressed in the conference call, and readers are cautioned not to place undue reliance on such forward-looking statements. We generally do not publicly update or revise any forward-looking statements expressed in this conference call whether as a result of new information, further events or otherwise. There can be no assurance that forward-looking statements contained in this document will, in fact, transpire or prove to be accurate. I would like to remind everyone that this conference is being recorded on August 15, 2023. I will now turn the call over to Stan Ross, CEO. Please go ahead, Mr. Ross.Stanton E. RossThanks, Michelle. Thanks, everybody, for joining us today. Also in the room with me is Brody Green, the President and also -- we have Tom Heckman that has called in as the CFO, but Brody and I will be conducting the call today. I just like to, first of all, thank all the Digital Ally employees and especially the hard efforts that went into getting the 10-Q filed on time, which was really a task when you look at the significant amount of work that is also going on concerning the announced business collaboration agreement that we have concerning Kustom Entertainment with Clover Leaf. So it wasn't an easy task, a lot of folks had to wear a lot of different hats, but it's real nice to see that everyone pulled together and got it done on time. Also very proud of seeing the reduction starting to really start to come into play that I think we talked about on the last call concerning the moves that we started making and some transitions that we're making to get away from some of the contracts that we were in, in regards to TicketSmarter that has really helped to dramatically bring down a lot of the expenses. So while the revenue side was off a little that is very explainable, recognizing that we have such a massive amount of capital allocated towards some programs that just were not successful for us. And so getting through those and getting those was quite a project. The other thing is this was a very important 10-Q to get completed as it is also now gives us the very current numbers that will be a big part of the next filing that will be done very shortly in regards to -- essentially, it's an S-4, those that you're familiar with, SPAC purchases. Anyways, so now that we have that, I think we're going to see a lot of movement towards the Kustom Entertainment Clover Leaf agreements. So with that being said, I'll let Brody go over into a lot more details on the numbers, and then we'll come back with some comments and then open it up for Q&A.Story continuesBrody J. GreenThanks, Stan. And I'm just going to -- like Stan said, I'm going to roll through the numbers. I'll start with the balance sheet and then go through the P&L and touch on a few other points and then probably turn it back over to Stan to go further into detail on the transaction itself. I wasn't sure that's going to be a hot topic for this call. So I'll just briefly go through the balance sheet. As you guys -- everybody saw in the 10-Q, our cash and cash equivalents was about $2.9 million at the end of the quarter. Total receivables. We had about $4.6 million in receivables, along with a net inventory of $5.8 million and prepaid expenses of $7 million bringing current assets to a little over $20 million, along with some other noncurrent assets, our total asset value at June 30 was $53.5 million. Our current liabilities that at $23.4 million with long-term liabilities, bringing our total liabilities to $31 million. So you can see as total stockholders' equity at June 30 of about $22.5 million with 2.8 million shares outstanding at June 30, and I think that number stands true today as well. On the P&L side, our total revenue was just under $8.3 million. As Stan mentioned, it's slightly down from Q2 of last year. But as we walk -- go down this P&L, you'll notice, it really directly correlates with our cost of revenue as we rein back quite a few things on the TicketSmarter side, especially the paper click and some other sponsorship agreements that didn't really reap the benefits that we are hoping for with a high price tag. Our cost of revenue for the quarter was $5.5 million, bringing a gross profit to $2.7 million for the second quarter of '23. That's up almost -- it's up over $1 million from the same quarter in 2022. So kind of like as Stan mentioned, we really focused on working on our cost of revenue increasing those margins, which you can see in $1 million boost in gross profit for the quarter, even with lower revenues. You can see our total SG&A expense was just under $7.7 million, bringing our operating loss to $4.9 million. However, that's a dramatic improvement from an operating loss of $6.7 million in the quarter prior -- or year prior. Also, there's some other income or expenses flowing through related to the interest expense for the convertible note we did in April, along with an accrual we put together for a lawsuit, we're dealing with as well, bringing a total net loss to $8.3 million for the quarter, $8.4 million once you pull out the income attributable to the medical billing side.One point I would like to touch on is our deferred revenue balance. So that's up $1.5 million from the beginning of the year. So we have a current balance of $9.5 million in deferred revenue for -- at June 30, 2023. So that's related to the subscription model and that -- it's continuing to grow and evolve. I think this quarter, we had over 36 new subscriptions with over 300 Pros and almost 50 EVOs included. So you can see those subscription models are just starting to stack up as we've discussed historically, and just I think that deferred revenue number is going to continue to grow quarter-over-quarter as we move forward. Net inventory was $5.8 million at June 30. That's down about $1 million from year-end as we continue to try and rightsize our inventory levels to keep less unnecessary inventory on hand and wrap up capital in that sense. Related to the $3 million convertible note, we did in April, we issued a little over 1 million warrants along with that, those would be at $5.50 exercise price, $6.50 and $7.50 each tiered up as we disclosed in 8-K previously. So that's all high-level stuff. We also, during the quarter, completed our first event under the Kustom440 division that featured Chris Young and Gabby Barrett was a very successful show. I think everybody that attended had a great time. We were pleased with out win. And obviously, that's just a stepping stone for us moving forward as we look forward to announcing more events yet this year and especially into 2024. But it's good to get the first one under our belt and grow from there. Outside of that, we have some new products coming out on the Digital Ally side that were in the market for Q3 and Q4. Those being the EVO fleet, the commercial in-car systems along with the interview room solution. Those have all been disclosed through press releases. So we're encouraged about how the marketplace are taking those, and we'll see some good results here in Q3 and Q4 with those newer product lines. So for any further details, in more detail, you can heard you guys all read the Form 10-Q we filed yesterday afternoon. And with that, I'll just turn it back over to Stan, and I'm sure we'll go into more detail from there.Stanton E. RossYes. Thanks, Brody. And again, a couple of things that I guess I understand the environment that the stock markets in and how hard it is, sometimes to really get a lot of exposure out there, especially going through the summer, too, when there's so many people doing their vacations and they're off on their trips. But schools kick it back up, and I think people will start focusing again on their investments. But to sit there and, again, Digital Ally having a market cap of only $2.5 million and shareholder equities at $22.5 million. Deferred revenue that Brody was talking about is really just the video solutions side of things at $9.5 million. And then you look at the value that the medical billing company continues to generate and build right now, again, with the ticketing platform and the Kustom440, having the ability and has had some very first production or concert or festival whatever you want to call it, which really did well. We were very pleased. It probably exceeded by as much as 20% of what our target was. So the turnout was great. The lineup was great. The -- without any hiccups in regards to the event. So looking forward to being able to repeat that, not only repeat that model back here in Kansas City, again, but we have identified numerous locations that will be announced in the coming months in regards to conduct them to similar festivals in other parts of the country in which we will also be utilizing our ticketing platform to maximize the profitability on those. So anyways, I was very, very pleased and continue to be very excited about the direction that Digital Ally has going and the opportunities that it has in front of us. And including some new and innovative products that I do believe that will be talked about before the years out as well. So Michelle, I think I'd like to go ahead and open up the floor for questions and answers.Question and Answer SessionOperator(Operator Instructions) The first question in the queue comes from Allen Klee with Maxim Group.Derek GreenbergThis is Derek Greenberg on for Allen. My first question is just if you could maybe provide an update on how sales are going to fleets currently?Brody J. GreenGoing to what, I'm sorry?Derek GreenbergSales to fleet.Brody J. GreenFleets Yes. So that really other products I think we rolled out in early Q3. So we had quite a big pipeline prior to that we have several T&Es out there right now as well as some existing customers that are starting to utilize that new commercial product as well as we finally finalized some of this pricing and whatnot with our large insurance partner we have so they can push it out to their current customers as well. So it's really starting to pick up.It just rolled out recently. So I don't really want to speak to sales that happened in Q3 either, but it's really gaining some traction early this quarter and into this latter half of the quarter as well that I think we're going to see the fruits of that labor here pretty soon.Stanton E. RossYes, Allen. One other thing, too, as you may recall, and I think we talked about it maybe a little bit on a previous call, but the neat thing about the insurance company that we're working with. They actually did a white paper on our fleet in-car video system. And Brody, you may have to help me with the numbers again. But essentially, they've seen such a dramatic reduction in the incidences that particular company was having that they paid for almost 90% of the cost of the equipment in the very first year of a 5-year contract but just the reductions that they had in costs associated with those incidences they had prior -- the year prior.So they clearly, clearly are a big fan and advocate of Digital Ally's commercial in-car system. And they've got -- what was it, 200 reps or so that they'll be pushing it out to some, I think, 35,000 customers that they have. So we've really got to be on top of our game in regards to making sure that we can keep up with what we hope to be a very strong demand and be able to have the product in-house to get it out to them.Derek GreenbergGreat. I also wanted to touch on the medical billing segment of the business. I was wondering if you maybe saw any opportunities to expand that I guess your overall outlook.Stanton E. RossRight now, we've really been focusing on -- so part of that, we're buying decent mom-and-pop sized companies and really pushing for increased gross profit within those companies like just some of the procedures and practices that we have in place with our managing members. So I think we've been in the process of maximizing the profitability of those for the time being with those 4 recent acquisitions.But our eyes are always open and looking at other opportunities as well in that same segment. So right now, we're just working on rightsizing and maximizing the bottom line of the recent acquisitions, but we're also keeping our ear to the ground for potential opportunities that pop up in the near future as well.Derek GreenbergOkay. Great. I just have one last question. And that's just relating to revenue. I was wondering what percentage of that is recurring?Thomas J. HeckmanI want to say the recurring per quarter is about [$750,000] million of every quarter. So -- and that's all pertaining to the video solutions side. So I would say on the video solution revenue, it's probably 35% to 40% of the quarterly recognized revenue is the recurring portion.OperatorThe next question in the queue comes from Rommel with Aegis Capital.Rommel Tolentino DionisioJust a couple of questions on the Entertainment segment. I appreciate your comments earlier on the country roots. So I wonder if you could just give us a little more color in terms of kind of attendance relative to expectations, the reception you had in the marketplace, sounds like you generated some nice product revenues. And as we look forward, do you expect that entertainment sentiment to really kind of start to generate -- looking at the 2024, 2025, the lion's share of its revenues from proprietary events such as this one?Stanton E. RossYes. So what -- give you a little idea of how we have a sort of a structured. We have an entity called Kustom440, and it is the production company that actually puts on the festivals. And so to give you a little insight on what we do before we go and take on even attempt to look at a market and then a line up, then obviously, the facility, the food and beverage and the deal terms that we -- we do a full-blown analysis in regards to the economics of it. And so in this particular one, being here in Kansas City. They've had quite a few events going on in town. I mean I think Brooks & Dunn was just a week or 2 earlier at the T-Mobile Center. And so we're essentially doing this in a Minor League ballpark in the actual baseball park. And so our goal was trying to exceed over 6,000 tickets sold. And I think we came in right around 7,200. The other thing that was a little bit -- a very nice surprise is the food and beverage side of things, we were looking at about $29 as far as per head, and we came in closer to 49%. That's sometimes a real combination to weather because weather was beautiful.I mean we got lucky, and it just -- it was just beautiful. So there was a lot of people having a lot of fun, they were out there. We're actually putting a presentation together that we will do an 8-K filings so that you can take a look at just the attendance, the people having a great time and get a feel for what kind of an event that we put on.So we clearly -- we had representatives from other venues that came to town to see what we were talking about as far as the country routes festival. And so everything I've heard from those that went back is how soon can you come in new country roots at our festival? And is there a chance that you could do one yet this year, things along those lines. So it went really well. And our expectations are to try to do somewhere -- I'm afraid you threw out a number, but I will, I think the country roots itself that brand will try to do approximately 10 of those throughout the country in 2024. Now we will mix that up with other different genres as far as we may have Kustom440 rock classic or something, we'll just have a different mix. And then what you do there, Rommel, what I could do is one day I'm doing the country genre and the next day, I may be doing the rock. In that way, then your numbers really get to look nice because you essentially already have the stage, the lights, the power, your arena, everything is already there, all you're really doing is switching out signage and changing up the theme a little bit, right? So that's when I think we're really going to start to maximize some numbers associated with the festivals that we'll be able to put on.And then possibly even in 3 days in the bigger cities. So we've got a lot of them identified, like I said, there will be a presentation and fairly soon that we'll file an 8-K, and you'll be able to go on there. And it'll have some not only alert you to what happened, but also we're going ahead and identify some of the cities that we anticipate in doing this at.Rommel Tolentino DionisioGreat. Well, please do one on the East Coast, Stan so I can attend. Thanks very much.Stanton E. RossOkay. You got it.Operator(Operator Instructions) The next question in the queue comes from Bryan Lubitz with Equitable Advisors.Bryan LubitzGlad to see the SG&A is going down, the expenses are coming down. And obviously, we're working through the cycle with the sponsorship deals. Are we fully through that sponsorship deal?Stanton E. RossI think they're real close, Bryan. It probably -- they may have a little bit that wraps over into the remainder of the year. But I think there's stuff there that we were able to negotiate some value out of. And what I mean by there is it doesn't have to be just 100% driven by TicketSmarter.So what we may be able to do is utilize the spots, the money that we're committed to spend for advertisement for country roots or our next festival and or some things along those lines. So I think we're at a point where what little bits remaining, we're going to be able to get some value out and whether it be, like I said, the advertising of concerts or maybe even the announcement of new products that video solutions coming out with.Brody J. GreenAnd Bryan, real quick, I also think a lot of the school deals and whatnot we had their year-end is 630 because they do the summer year-ends. So I do think in Q3, you'll see that number continue to go down. And I think after Q3, it probably should be where the number lands going forward without some other adjustments we make along the way. But I do think you saw still a bit of the implications from those deals hit Q2. I think Q3 will continue to see improvements there due to what the schools year-ends are.Bryan LubitzGood. Good. Okay. So as far as with the Kustom Entertainment, when you guys moved with the merger, does that deal, I assume just goes with you guys over to Kustom Entertainment. It's not canceled out because you're no longer TicketSmarter, right?Stanton E. RossCorrect.Bryan LubitzOkay. All right. So I actually have 2 questions more. I'd like if you guys can indulge me. The first one is about the actual merger. And I know, Stan, you talked earlier about filing the S-4 and hopefully, thereafter, we can see you on that roadshow, so we can start to see exactly what's going to be handed out to the shareholders. As far as the $125 million takeover, just looking at the shares that you guys have outstanding and the shares that Chloe have outstanding, if I'm reading this right, $18 million is coming in cash and the rest of it is going to be coming in the form of stock.Stanton E. RossWell, the way it's structured is based upon a value. And of course, with SPACs, they have the ability to do what do you want to say some redemptions and stuff like that. And they had a meeting the other day and had minimal redemption. So that was very, very encouraging. And so once the -- let's say, the SPAC really understands the Kustom Entertainment story, then everyone will be able to really wrap their arms around it. And so then you really get a sense of the amount of cash versus stock. But right now, I think their stock is still trading north of $11 a share is where it's at.Bryan LubitzOkay. All right. So the formula could change. But essentially, shareholders of digital are going to get roughly $125 million takeover for the Kustom Entertainment. That's the value.Stanton E. RossCorrect.Bryan LubitzOkay. All right. So now -- as far as -- and this might be a Brody question because, obviously, Stan, we know you're going to be moving with Kustom Entertainment. As far as just looking at you guys' balance sheet and having assets over $50 million and having $9 million in deferred income coming your way and $20 million worth of revenue roughly that you're going to be looking at? And then looking at a market cap of 14%, again, we find ourselves in a spot where I don't know if we have a poison pill or protection for us, but what you guys are generating, the market's just not simply giving you value on it. At some point, Brody, are you looking to shop the company because, again, you have $15 million in assets out there and have a market cap of 15%, but then to sell a portion of the company at $125 million, just the numbers are just not working out where you guys are getting value to be public.Brody J. GreenYes. And I think that's part of the driver for us doing this spinoff/agreement -- merger agreement is to kind of provide clarity between the 2 companies and 2 stocks to show what Digital Ally is and what Kustom is because we think there's been a lot of confusion in the marketplace about what the company is because we're kind of a conglomerate of quite a few things. So I think we're going to see how it plays out post separation and see if we can start getting increased value in the marketplace for what Digital Ally is as well as what Kustom is going to be. And I think we'll go from there. There's no imminent plans to shop it around by any stretch. But yes, we're just -- I think we're going to see where the market takes it after this separation as it's kind of one of the driving forces is the lack of value we're getting as we currently said.Bryan LubitzYes, because I mean, to have a market cap of 15% and a portion of the company sold for $125 million, it's just -- it's manning for the shareholders. You guys know I've been with you guys for a long time. It's just -- for whatever reason, we're not getting the respect that we deserve.And I know I said guys, I had 2, actually well I have one more. This might be a pawn question, but I'm going to ask in regards to this year being really, really positive on the AI movement. And I know you guys have had a lot of AI incorporated into your body cameras as well as the thermal views and things of that nature. Do you see Digital Ally going more down that road in the future in regards to AI with your products?Brody J. GreenYes, absolutely. I think the whole market is going to trend towards AI in some way, shape or form, and I don't see us not being included in that. I think you're going to have to utilize AI in some fashion down the road now to what extent that's yet to be determined. I know AI is also a bit of a scare for quite a few people. So it's a fine line to walk. Obviously, we know AI is coming, but you have to be careful with how much you dabble with it, and it will be interesting to see how we develop that into our current products and systems and to what extent it will be. But yes, we're looking at where the market is going. We all know that.Bryan LubitzSo the thermal view has like facial recognition and stuff like that included in it, right? Where else do you guys have AI attached to your products right now, if any?Stanton E. RossBryan, I mean, obviously, the in-car systems and even a lot of the body cameras have some of it. And I'll tell you this as well. I mean, there's ways to continue to bring AI even into the Kustom Entertainment side of things. Obviously, we've got a lot of people coming into arenas. We're going to be wanting to make sure and monitor that. Everything on -- from that on the ticketing side and then keep a track of that to where you're not only a production company that's doing great events, but you're a ticketing company that is working right along with the security of those events, therefore, we can identify if there happens to be someone, let's say, like on the no-fly list, right? In other words, they're not supposed to be attending Taylor Swift concerts. So AI is going to be big in our world throughout.Bryan LubitzWell, listen, guys, I'm glad to see that expenses are coming down and revenues, hopefully, will start going in the right direction for us, and we're all very excited to see that S-4 that you're talking about, Stan, and obviously, in the next leg of the Kustom/Digital chapter. So kudos to the quarter and looking forward to seeing more news from you guys soon.Brody J. GreenThank, Bryan.Stanton E. RossThanks, Bryan. Okay. I think we're going to go ahead and wrap things up now and really do appreciate the -- everyone that attended. I appreciate the questions. If there -- like Brody said, please take a look at the 10-Q. Please keep your alerts on for when the S-4 is filed and also the presentation that I referred to earlier. And if there is some additional questions, feel free to give us or shoot us an e-mail or a call and we'll try to get back to you and answer those, that we can answer.Meanwhile, I could tell you on a personal front, how excited I am to see the direction and the improvement and just the excitement for all the Digital Ally opportunities that are ahead of us. And so hopefully, that turns in and monetizes for you all. So thank you, everyone, have a wonderful day, and we'll talk to you all soon.OperatorThank you, ladies and gentlemen. This concludes your conference. Please disconnect your lines.

Thomson Reuters StreetEvents

Q2 2023 Digital Ally Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-digital-ally-inc-044649930.html

ff611a27-dad9-3b03-b7d0-beea132d039b

DGLY

Digital Ally, Inc.Order from South Carolina Ports Authority Police Guard placed through the Company’s subscription payment plan as strong demand continues for FirstVu Pro body-worn camerasLenexa, KS, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and event security, today announced a notable order for forty (40) FirstVu Pro body-worn cameras and five (5) 8-bay QuickVu docking stations for the South Carolina Ports Authority.This order, and several recent orders of a similar nature, reflect the versatility of utilizing Digital Ally’s video solutions technology outside of traditional law enforcement applications.“We’re proud to partner with the South Carolina Ports Authority Police Guard in its efforts to protect the vast volume of assets that move through the 8th largest U.S. port,” said Brody Green, President of Digital Ally, adding, “Not only are the police guards responsible for these assets, but also the safety of the people who work within the port.”The order comes on the heels of the Company announcing several notable law enforcement orders and patents, as well as the addition of its InterVu Room solution. Digital Ally continues to demonstrate its commitment to innovation and a world-class video solutions ecosystem with the FirstVu Pro body-worn camera, EVO-HD in-car system, InterVu Room system, EVO Web and QuickVu docking stations.About Digital AllyDigital Ally, Inc. (NASDAQ: DGLY) through its subsidiaries, is engaged in video solution technology, human & animal health protection products, healthcare revenue cycle management, ticket brokering and marketing, event production and jet chartering. Digital Ally continues to add organizations that demonstrate the common traits of positive earnings, growth potential, innovation and organizational synergies.Story continuesFor additional news and information please visit www.digitalally.com or follow Digital Ally Inc. social media channels here:Facebook | Instagram | LinkedIn | TwitterContact InformationBrody Green, PresidentStanton Ross, CEOTom Heckman, CFODigital Ally, [email protected] press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to maintain or expand its share of the markets in which it competes with the Video Room solution, FirstVu Pro body cameras, EVO HD in-car camera, QuickVu docking stations and EVO Web; whether the Company will make a global impact with its technology innovations; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; whether the technology referenced in this release will work as anticipated and meet the needs of the Company’s customers; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2022, and quarterly report on Form 10-Q for the three and six months ended June 30, 2023, as filed with the Securities and Exchange Commission.

GlobeNewswire

Digital Ally Announces Ports Authority Order

https://finance.yahoo.com/news/digital-ally-announces-ports-authority-123000862.html

919dde44-f7b1-32ac-a7bf-4ecdf959e6aa

DGX

SECAUCUS, N.J., Sept. 8, 2023 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced that Sam Samad, Executive Vice President and Chief Financial Officer, will speak on the company's strategy, performance and the latest market developments and trends during a fireside chat at the Baird 2023 Global Healthcare Conference in New York City on Wednesday, September 13, 2023, at 2:00 p.m. Eastern Time.Quest Diagnostics Incorporated logo. (PRNewsFoto/Quest Diagnostics Incorporated)The presentation and Q&A session will be webcast live during the conference and will be available on the company's investor relations page which can be accessed at ir.QuestDiagnostics.com. In addition, the archived webcast will be available within 24 hours after the conclusion of the live event and will remain available until October 13, 2023.About Quest DiagnosticsQuest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our nearly 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/quest-diagnostics-to-speak-at-the-baird-2023-global-healthcare-conference-301922160.htmlSOURCE Quest Diagnostics

PR Newswire

Quest Diagnostics to Speak at the Baird 2023 Global Healthcare Conference

https://finance.yahoo.com/news/quest-diagnostics-speak-baird-2023-153800799.html

7a999844-75e4-343a-adc3-69150d5e2e3d

DGX

1041 Coney Island Avenue. Photo: Google MapsDelight Bazar Supermarket, Option Care Health and Quest Diagnostics are moving to 1041 Coney Island Avenue, a new six-story mixed-use building in Ditmas Park, Brooklyn, according to brokers on the deal. All three tenants signed 10-year leases for space on the ground floor, said MOD Commercial Realty’s Meyer Dagmy, who represented the building’s owner, Foster and Coney Realty. Asking rent was $75 per square foot. The family-owned firm had medical tenants in mind for the building, Dagmy said. “It’s a beautiful space with high ceilings,” he said. “We were looking for physical therapy or medical uses that would complement one another.” He met his clients halfway. Delight Bazar signed on for 6,500 square feet, taking the largest ground-floor retail unit in the building. The grocery chain is a destination for shoppers with international taste, offering a range of South Asian products and affordable fresh produce. A supermarket will be a welcome addition to the Coney Island shopping corridor, Dagmy said, after the nearby Key Food at 1407 Foster Avenue closed.KK Capital Group’s Raj Whadwa, who represented Delight, said the neighborhood and the site’s size make it a good fit for his client. Delight has locations in New Jersey and California, and the Coney Island Avenue spot will be its third.National medical testing provider Quest Diagnostics signed a lease for 2,000 square feet next door in a smaller ground-floor unit. The company will relocate its Church Avenue office to the new space, Dagmy said. Finally, Option Care Health, a provider of infusion therapy with locations across the United States, also signed a lease for 2,000 square feet on the ground floor. CBRE (CBRE)’s Adam Bass and Eric Gillman represented Quest Diagnostics and Option Care Health. Bass and Gillman could not be reached for comment.The building’s storefronts are now more than 75 percent rented, Dagmy said.Abigail Nehring can be reached at [email protected]. Story continuesTrending Commercial Observer StoriesMargaritaville Resort in SoFlo Nabs $140MJPMorgan Pays $745 a Foot for Activision Blizzard HQ In Santa MonicaNYU Buys Kips Bay Residential Tower for $210MNew Yorker Hotel’s $106M Note Sells to Yellowstone Real Estate Investments Who Owns the Most Apartments in Los Angeles?Read the original story Grocery, Medical Tenants Lease 3 Storefronts at Ditmas Park Development and others by Abigail Nehring at Commercial Observer.

Commercial Observer

Grocery, Medical Tenants Lease 3 Storefronts at Ditmas Park Development

https://finance.yahoo.com/news/grocery-medical-tenants-lease-3-222302036.html

dc8d5d93-b7be-3ace-a901-001549a2a1b3

DHI

In this article, we discuss Warren Buffett's dividend stocks by sectors and industries. You can skip our detailed analysis of Warren Buffett's portfolio and dividend stocks, and go directly to read 5 Warren Buffett Dividend Stocks by Sectors and Industries. Warren Buffett, one of the most successful investors in history, has shown a preference for investing in dividend stocks throughout his career. The CEO of Berkshire Hathaway has often mentioned that he likes companies with a history of consistent and growing dividends. These stocks are attractive to him because they provide a steady stream of income, which he views as a source of cash flow that can be reinvested in other opportunities. The Coca-Cola Company (NYSE:KO), American Express Company (NYSE:AXP), and Chevron Corporation (NYSE:CVX) are some of the most prominent Warren Buffett dividend stocks that the billionaire has been investing in for quite some time.Buffett's dividend investing strategy is a cornerstone of his successful approach to stock market investing. He is known for his patient approach to investing and buying stocks with the intention of holding them for the long term, often for years or even decades. This long-term perspective allows him to benefit from the power of compounding and ride out market volatility. In one of our previous articles, we reported Buffett’s dedication to long-term investing through his ownership of The Coca-Cola Company (NYSE:KO). Back in 1994, Berkshire Hathaway received $75 million in cash dividends from its $1.3 billion investment in Coca-Cola. Fast forward to last year, and that dividend payment saw a remarkable increase, reaching $704 million. This shows how Buffett's patient approach can lead to substantial returns over time.Buffett’s investment philosophy of holding stocks for the long haul is widely regarded as a key factor in his success as an investor. Peter Kunhardt, a director of the HBO documentary "Becoming Warren Buffett," explained in a 2017 interview that Buffett recognizes that “you don’t have to trade things all the time; you can sit on things, too. You don’t have to make many decisions in life to make a lot of money.”Story continuesBuffett pays close attention to the sectors and industries he is investing in as a fundamental part of his investment strategy. As of the end of Q2 2023, the tech sector dominated his portfolio, while financials, basic materials, and consumer goods also made up significant portions of his investments. In this article, we will take a look at some of his best dividend stock picks from different sectors and industries.Warren Buffett Dividend Stocks by Sectors and IndustriesOur Methodology:For this article, we analyzed Berkshire Hathaway's 13F portfolio as of the second quarter of 2023 and picked dividend stocks from the portfolio. We mentioned the sectors and industries these stocks belong to and ranked them in ascending order of the hedge fund's stake in them during Q2 2023.18. Mondelez International, Inc. (NASDAQ:MDLZ)Berkshire Hathaway’s Stake Value: $42,159,320 Sector: Consumer Staples   Industry: ConfectionersMondelez International, Inc. (NASDAQ:MDLZ) is an American multinational food and beverage company that owns a wide range of well-known brands in various categories. At the end of Q2 2023, Berkshire Hathaway owned stakes worth over $42.1 million in the company, which represented 0.01% of its 13F portfolio.Mondelez International, Inc. (NASDAQ:MDLZ), one of the best Warren Buffett dividend stocks, currently pays a quarterly dividend of $0.385 per share. The company has been raising its dividends consistently for the past nine years. The stock has a dividend yield of 2.45%, as of September 5.At the end of Q2 2023, 55 hedge funds tracked by Insider Monkey reported having stakes in Mondelez International, Inc. (NASDAQ:MDLZ), up from 51 in the previous quarter. The collective value of these stakes is over $1.74 billion. Among these hedge funds, Holocene Advisors was the company's leading stakeholder in Q2.17. The Procter & Gamble Company (NYSE:PG)Berkshire Hathaway’s Stake Value: $47,858,796 Sector: Consumer Staples   Industry: Household & Personal ProductsThe Procter & Gamble Company (NYSE:PG) is an Ohio-based multinational consumer goods company that manufactures a wide range of related products. It is one of the best Warren Buffett dividend stocks as it has been growing its dividends for 67 consecutive years. The company offers a quarterly dividend of $0.9407 per share and has a dividend yield of 2.47%, as of September 5.The Procter & Gamble Company (NYSE:PG) made up 0.01% of Berkshire Hathaway's portfolio as the fund owned stakes worth over $47.8 million in the company. The hedge fund started investing in the company in 2005.As of the close of Q2 2023, 74 hedge funds in Insider Monkey's database reported having stakes in The Procter & Gamble Company (NYSE:PG), worth collectively over $5.34 billion.16. Johnson & Johnson (NYSE:JNJ)Berkshire Hathaway’s Stake Value: $54,141,592 Sector: Healthcare   Industry: Drug Manufacturers—GeneralJohnson & Johnson (NYSE:JNJ) is next on our list of the best Warren Buffett dividend stocks. The hedge fund held 327,100 shares in the company at the end of Q2 2023, worth over $54 million. The company represented 0.01% of the firm's 13F portfolio.Johnson & Johnson (NYSE:JNJ), one of the best Warren Buffett dividend stocks, has raised its dividends consistently for the past 61 years. The company currently pays a quarterly dividend of $1.19 per share and has a dividend yield of 2.96%, as of September 5.Johnson & Johnson (NYSE:JNJ) was a part of 88 hedge fund portfolios at the end of Q2 2023, up from 86 a quarter earlier, according to Insider Monkey's database. The consolidated value of stakes owned by these hedge funds is over $4.1 billion.15. D.R. Horton, Inc. (NYSE:DHI)Berkshire Hathaway’s Stake Value: $726,454,496 Sector: Consumer Discretionary   Industry: Residential ConstructionD.R. Horton, Inc. (NYSE:DHI) is one of the largest home construction companies in the US. The company operates in the residential construction industry and is engaged in a wide range of related activities. On July 20, the company declared a quarterly dividend of $0.25 per share, which was in line with its previous dividend. It has been raising its dividends consistently for the past 10 years, which makes it one of the best Warren Buffett dividend stocks. The stock's dividend yield on September 5 came in at 0.88%.Berkshire Hathaway opened its position in D.R. Horton, Inc. (NYSE:DHI) during the second quarter of 2023 with roughly 6 million shares, worth over $726.4 million. The company represented 0.2% of the firm's 13F portfolio.The number of hedge funds tracked by Insider Monkey owning stakes in D.R. Horton, Inc. (NYSE:DHI) grew to 54 in Q2 2023, from 46 in the previous quarter. The collective value of these stakes is over $2.85 billion.14. Ally Financial Inc. (NYSE:ALLY)Berkshire Hathaway’s Stake Value: $783,290,001 Sector: Financials   Industry: Credit ServicesAlly Financial Inc. (NYSE:ALLY) is an American financial services company that is well-known for its auto finance business. In addition to this, the company offers a wide range of financial services to its consumers. At the end of Q2 2023, Berkshire Hathaway owned 29 million shares in the company, worth nearly $783.3 million. It constituted 0.22% of the firm's 13F portfolio.Ally Financial Inc. (NYSE:ALLY) currently pays a quarterly dividend of $0.30 per share and has a dividend yield of 4.22%, as of September 5. The company is one of the best Warren Buffett dividend stocks as it has raised its payouts for six consecutive years.Insider Monkey's database of Q2 2023 indicated that 46 hedge funds owned stakes in Ally Financial Inc. (NYSE:ALLY), with a total value of over $1.87 billion. In addition to Warren Buffett, John Petry, Norbest Lou, and Howard Marks are also prominent stakeholders of the company in Q2.13. Mastercard Incorporated (NYSE:MA)Berkshire Hathaway’s Stake Value: $1,567,948,658 Sector: Financials   Industry: Credit ServicesMastercard Incorporated (NYSE:MA) is a multinational financial tech company that operates in the global payment processing and digital payments industry. The company currently offers a per-share dividend of $0.57 every quarter and has a dividend yield of 0.55%, as of September 5. Its dividend growth streak stands at 10 years, which makes MA one of the best Warren Buffett dividend stocks to buy now.Berkshire Hathaway started investing in Mastercard Incorporated (NYSE:MA) in 2011 and in the most recent quarter, the hedge fund held stakes worth over $1.5 billion in the company. The hedge fund did not change its position in the company during the quarter. It made up 0.45% of the firm's 13F portfolio.At the end of Q2 2023, 139 hedge funds tracked by Insider Monkey presented a bullish stance on Mastercard Incorporated (NYSE:MA), up from 138 in the previous quarter. The collective value of these stakes is over $14.7 billion.Baron Funds mentioned Mastercard Incorporated (NYSE:MA) in its Q2 2023 investor letter. Here is what the firm has to say:“We modestly trimmed Visa Inc., Mastercard Incorporated (NYSE:MA), and Accenture plc to manage the position sizes and raise capital to fund purchases elsewhere. These stocks remain full-sized positions and high-conviction ideas in the Fund.Another fintech industry trend we’re seeing is a pickup in M&A activity, most notably in the payments sector. The year started with Nuvei’s $1.3 billion acquisition of Paya announced in January. In April, Network International received an initial takeover offer from a group of private equity firms, which was then topped by Brookfield Asset Management whose $2.8 billion offer was accepted by the Board in June. Following reports earlier this year of a bidding war between Visa Inc. and Mastercard Incorporated to acquire cloud-based issuer processor and core banking software provider Pismo.”12. Visa Inc. (NYSE:V)Berkshire Hathaway’s Stake Value: $1,970,480,801 Sector: Financials   Industry: Credit ServicesVisa Inc. (NYSE:V), a global financial tech company, reported that its payments volume in August grew by 7 compared to the same period last year. This growth was driven by slight improvements in important international markets compared to July.Visa Inc. (NYSE:V) has raised its dividends every year since 2008 and currently pays a quarterly dividend of $0.45 per share. With a dividend yield of 0.73% as of September 5, V is one of the best Warren Buffett dividend stocks to consider.At the end of Q2 2023, Berkshire Hathaway owned roughly 8.3 million shares in Visa Inc. (NYSE:V), worth nearly $2 billion. The company accounted for 0.56% of the firm's 13F portfolio.The number of hedge funds tracked by Insider Monkey owning stakes in Visa Inc. (NYSE:V) stood at 171 in Q2 2023. The consolidated value of these stakes is roughly $25 billion.11. The Kroger Co. (NYSE:KR)Berkshire Hathaway’s Stake Value: $2,350,000,000 Sector: Consumer Staples   Industry: Grocery StoresThe Kroger Co. (NYSE:KR) is an American supermarket chain and retail company that operates a wide range of businesses. On June 22, the company declared an 11.5% hike in its quarterly dividend to $0.29 per share. This marked the company's 17th consecutive year of dividend growth, which places it as one of the best Warren Buffett dividend stocks on our list. The stock has a dividend yield of 2.58%, as of September 5.Warren Buffett's Berkshire Hathaway owned 50 million shares in The Kroger Co. (NYSE:KR) at the end of Q2 2023, worth over $2.3 billion. The company represented 0.67% of the firm's portfolio.At the end of June 2023, 43 hedge funds in Insider Monkey's database were bullish on The Kroger Co. (NYSE:KR), the same as in the previous quarter. The consolidated value of these stakes is over $3.13 billion.10. Citigroup Inc. (NYSE:C)Berkshire Hathaway’s Stake Value: $2,543,470,454 Sector: Financials    Industry: Banks—DiversifiedCitigroup Inc. (NYSE:C) is a multinational financial services company that offers a wide range of financial products and services to individual consumers and businesses. The company currently pays a quarterly dividend of $0.53 per share, growing by 3.98% in July this year. The stock has a dividend yield of 5.15%, as of September 5.Warren Buffett started investing in Citigroup Inc. (NYSE:C) during the first quarter of 2022, purchasing shares worth roughly $3 billion. At the end of Q2 2023, the hedge fund owned over 55 million shares in the company, valued at over $2.5 billion. The company constituted 0.73% of the firm's 13F portfolio.The number of hedge funds tracked by Insider Monkey owning investments in Citigroup Inc. (NYSE:C) stood at 75 in Q2 2023, down from 79 in the previous quarter. The collective value of stakes owned by these hedge funds is over $6.7 billion.9. HP Inc. (NYSE:HPQ)Berkshire Hathaway’s Stake Value: $3,714,461,041 Sector: Information Technology    Industry: Computer HardwareHP Inc. (NYSE:HPQ) is a multinational information technology company that is involved in a range of businesses related to computing and printing technologies. Berkshire Hathaway opened its position in the company during the first quarter of 2023. In the most recent quarter, the hedge fund held an HPQ stake worth over $3.7 billion, which represented 1.06% of its 13F portfolio.HP Inc. (NYSE:HPQ) is one of the best Warren Buffett dividend stocks on our list as it has raised its dividends for 12 consecutive years. The company's current quarterly dividend stands at $0.2625 per share for a dividend yield of 3.50%, as of September 5.At the end of the June quarter of 2023, 46 hedge funds in our database were bullish on HP Inc. (NYSE:HPQ), growing from 37 in the previous quarter. Among these hedge funds, Millennium Management is one of the leading stakeholders of the company in Q2.8. Moody's Corporation (NYSE:MCO)Berkshire Hathaway’s Stake Value: $8,578,175,206 Sector: Financials   Industry: Financial Data & Stock ExchangesMoody's Corporation (NYSE:MCO) is a New York-based financial services company that provides credit ratings, research, and related services to its consumers. The company has raised its dividends for 13 years running and offers a quarterly dividend of $0.77 per share. The stock's dividend yield came in at 0.91%, as of September 5. It is among the best Warren Buffett dividend stocks.Berkshire Hathaway started investing in Moody's Corporation (NYSE:MCO) in 2000. At the end of Q2 2023, the hedge fund had over $8.5 billion worth of stakes in the company, which made up 2.46% of the fund's 13F portfolio.According to Insider Monkey's database as of Q2 2023, 60 hedge funds owned stakes in Moody's Corporation (NYSE:MCO), growing from 51 in the previous quarter. The collective value of these stakes is over $17 billion.Akre Capital Management mentioned Moody's Corporation (NYSE:MCO) in its Q2 2023 investor letter. Here is what the firm has to say:“The Fund owns many businesses that stand to benefit enormously from A.I. Moody’s Corporation (NYSE:MCO) recently announced a new strategic partnership with Microsoft to leverage A.I. into its global risk assessment products and their development. The top five positive contributors to performance during the quarter were Moody’s, Mastercard, CoStar, Constellation Software, and Adobe.”7. The Kraft Heinz Company (NASDAQ:KHC)Berkshire Hathaway’s Stake Value: $11,560,036,039 Sector: Consumer Staples   Industry: Packaged FoodsThe Kraft Heinz Company (NASDAQ:KHC) is a multinational food and beverage conglomerate that is known for producing a wide range of well-known consumer food products. Berkshire Hathaway owned over 325.6 million shares in the company at the end of Q2 2023, with a value of over $11.5 billion. The company represented 3.31% of the hedge fund's 13F portfolio.The Kraft Heinz Company (NASDAQ:KHC), one of the best Warren Buffett dividend stocks, has been making regular dividend payments since its merger in 2015. It currently pays a quarterly dividend of $0.40 per share and has a dividend yield of 4.92%, as of September 5.At the end of Q2 2023, 39 hedge funds tracked by Insider Monkey reported having stakes in The Kraft Heinz Company (NASDAQ:KHC), up from 34 in the previous quarter. The consolidated value of these stakes is over $12.2 billion.6. Occidental Petroleum Corporation (NYSE:OXY)Berkshire Hathaway’s Stake Value: $13,178,796,490 Sector: Energy   Industry: Oil & Gas E&POccidental Petroleum Corporation (NYSE:OXY) is an international oil and gas exploration and production company that specializes in various aspects of the energy industry. On July 27, the company announced a quarterly dividend of $0.18 per share, which was in line with its previous dividend. The stock has a dividend yield of 1.10%, as reported on September 5.During the second quarter of 2023, Berkshire Hathaway increased its stake by 6% in Occidental Petroleum Corporation (NYSE:OXY), holding a total stake worth over $13 billion. The company constituted 3.78% of the firm's 13F portfolio.Occidental Petroleum Corporation (NYSE:OXY) was a part of 73 hedge fund portfolios at the end of Q2 2023, according to Insider Monkey's database. The stakes owned by these hedge funds have a total value of over $15.4 billion. Click to continue reading and see 5 Warren Buffett Dividend Stocks by Sectors and Industries.  Suggested articles:11 Best Zinc Stocks to Buy in 202310 Best Gold ETFsAnalysts on Wall Street Lower Ratings for These 10 StocksDisclosure. None. Warren Buffett Dividend Stocks by Sectors and Industries is originally published on Insider Monkey.

Insider Monkey

Warren Buffett Dividend Stocks by Sectors and Industries

https://finance.yahoo.com/news/warren-buffett-dividend-stocks-sectors-171335869.html

dae963fd-0a98-39fe-bcec-762d432fe183

DHI

The Securities and Exchange Commission (SEC) requires large institutional investors to file a form called a 13F on a quarterly basis. Analyzing the 13F of Warren Buffett's Berkshire Hathaway can be a good way to understand where the Oracle of Omaha is placing his money. While looking at Buffett's most recent 13F, I stumbled upon something interesting: Three new positions in his portfolio include homebuilding companies D.R. Horton (NYSE: DHI), Lennar (NYSE: LEN), and NVR (NYSE: NVR).Continue reading

Motley Fool

3 Warren Buffett Stocks to Buy for the Next Bull Market

https://finance.yahoo.com/m/faf38e7a-89a2-3066-a40b-e5ecde7f4cbf/3-warren-buffett-stocks-to.html

faf38e7a-89a2-3066-a40b-e5ecde7f4cbf

DHR

Danaher (DHR) closed at $256.99 in the latest trading session, marking a -1.48% move from the prior day. This change lagged the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.Heading into today, shares of the industrial and medical device maker had gained 0.69% over the past month, outpacing the Conglomerates sector's loss of 0.07% and the S&P 500's gain of 0.58% in that time.Danaher will be looking to display strength as it nears its next earnings release. In that report, analysts expect Danaher to post earnings of $1.90 per share. This would mark a year-over-year decline of 25.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.63 billion, down 13.47% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $8.88 per share and revenue of $28.49 billion, which would represent changes of -18.9% and -9.48%, respectively, from the prior year.Any recent changes to analyst estimates for Danaher should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.48% lower within the past month. Danaher is currently a Zacks Rank #4 (Sell).In terms of valuation, Danaher is currently trading at a Forward P/E ratio of 29.38. This valuation marks a premium compared to its industry's average Forward P/E of 16.83.Story continuesWe can also see that DHR currently has a PEG ratio of 2.8. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Diversified Operations stocks are, on average, holding a PEG ratio of 1.96 based on yesterday's closing prices.The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 106, 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.To follow DHR in the coming trading sessions, be sure to utilize Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDanaher Corporation (DHR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Danaher (DHR) Dips More Than Broader Markets: What You Should Know

https://finance.yahoo.com/news/danaher-dhr-dips-more-broader-220018768.html

3329ec09-e7c3-3733-861a-b7ffa5ee9aa0

DHR

LOS ANGELES, CA / ACCESSWIRE / September 8, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Danaher Corporation ("Danaher" or "the Company") (NYSE:DHR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between April 21, 2022 and April 24, 2023, inclusive (the "Class Period"), are encouraged to contact the firm before September 15, 2023.If you are a shareholder who suffered a loss, click here to participate.We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected] class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.According to the Complaint, the Company made false and misleading statements to the market. Danaher's revenue growth from its business related to COVID-19 was declining. Despite the Company's claims, revenues from other business units were not able to compensate for this decline. The Company overstated its ability to sustain the growth it enjoyed in 2020 and 2021. The Company would be incapable of hitting its revenue targets. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Danaher, investors suffered damages.Join the case to recover your losses.The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.Story continuesThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.CONTACT:The Schall Law FirmBrian Schall, Esq.,www.schallfirm.comOffice: [email protected]: The Schall Law FirmView source version on accesswire.com: https://www.accesswire.com/781979/deadline-action-alert-the-schall-law-firm-encourages-investors-in-danaher-corporation-with-losses-of-100000-to-contact-the-firm

ACCESSWIRE

DEADLINE ACTION ALERT: The Schall Law Firm Encourages Investors in Danaher Corporation with Losses of $100,000 to Contact the Firm

https://finance.yahoo.com/news/deadline-action-alert-schall-law-080000039.html

c72b192b-3ec8-32e7-a220-735edaf304df

DIN

PASADENA, Calif., September 07, 2023--(BUSINESS WIRE)--Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill + Bar®, IHOP® and Fuzzy’s Taco Shop® restaurants, today announced that its Board of Directors declared a quarterly cash dividend of $0.51 per share of common stock. The dividend will be payable on September 29, 2023, to the Company’s stockholders of record at the close of business on September 19, 2023.About Dine Brands Global, Inc.Based in Pasadena, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries and franchisees, supports and operates restaurants under the Applebee's Neighborhood Grill + Bar®, IHOP®, and Fuzzy’s Taco Shop® brands. As of June 30, 2023, these three brands consisted of over 3,500 restaurants across 18 international markets. Dine Brands is one of the largest full-service restaurant companies in the world and in 2022 expanded into the Fast Casual segment. For more information on Dine Brands, visit the Company’s website located at www.dinebrands.com.Forward-Looking StatementsStatements contained in this press release may constitute 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. You can identify these forward-looking statements by words such as "may," "will," "would," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "plan," "goal" and other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those expressed or implied in such statements. These factors include, but are not limited to: uncertainty regarding the duration and severity of the ongoing COVID-19 pandemic and its ultimate impact on the Company; the effectiveness of related containment measures; general economic conditions, including the impact of inflation; our level of indebtedness; compliance with the terms of our securitized debt; our ability to refinance our current indebtedness or obtain additional financing; our dependence on information technology; potential cyber incidents; the implementation of restaurant development plans; our dependence on our franchisees; the concentration of our Applebee’s franchised restaurants in a limited number of franchisees; the financial health of our franchisees; our franchisees’ and other licensees’ compliance with our quality standards and trademark usage; general risks associated with the restaurant industry; potential harm to our brands’ reputation; possible future impairment charges; the effects of tax reform; trading volatility and fluctuations in the price of our stock; our ability to achieve the financial guidance we provide to investors; successful implementation of our business strategy; the availability of suitable locations for new restaurants; shortages or interruptions in the supply or delivery of products from third parties or availability of utilities; the management and forecasting of appropriate inventory levels; development and implementation of innovative marketing and use of social media; changing health or dietary preference of consumers; risks associated with doing business in international markets; the results of litigation and other legal proceedings; third-party claims with respect to intellectual property assets; our ability to attract and retain management and other key employees; compliance with federal, state and local governmental regulations; risks associated with our self-insurance; natural disasters, pandemics, epidemics, or other serious incidents; our success with development initiatives outside of our core business; the adequacy of our internal controls over financial reporting and future changes in accounting standards; and other factors discussed from time to time in the Corporation’s Annual and Quarterly Reports on Forms 10-K and 10-Q and in the Corporation’s other filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation does not intend to, nor does it assume any obligation to, update or supplement any forward-looking statements after the date hereof to reflect actual results or future events or circumstances.Story continuesFBN-RView source version on businesswire.com: https://www.businesswire.com/news/home/20230907173875/en/ContactsInvestor Contact Brett LevyVice President, Investor RelationsDine Brands Global, Inc.(818) [email protected] Contact Susan NelsonSr. Vice President, Global CommunicationsDine Brands Global, [email protected]

Business Wire

Dine Brands Global, Inc. Announces Third Quarter 2023 Dividend

https://finance.yahoo.com/news/dine-brands-global-inc-announces-120000674.html

1ce92ba6-988f-31ac-9bba-6c24a0334aee

DIN

The board of Dine Brands Global, Inc. (NYSE:DIN) has announced that it will pay a dividend on the 29th of September, with investors receiving $0.51 per share. Based on this payment, the dividend yield on the company's stock will be 3.9%, which is an attractive boost to shareholder returns. See our latest analysis for Dine Brands Global Dine Brands Global's Payment Has Solid Earnings CoverageWhile it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. The last dividend was quite easily covered by Dine Brands Global's earnings. This means that a large portion of its earnings are being retained to grow the business.Looking forward, earnings per share is forecast to rise by 45.8% over the next year. If the dividend continues on this path, the payout ratio could be 26% by next year, which we think can be pretty sustainable going forward.historic-dividendDividend VolatilityThe company's dividend history has been marked by instability, with at least one cut in the last 10 years. The annual payment during the last 10 years was $3.00 in 2013, and the most recent fiscal year payment was $2.04. The dividend has shrunk at around 3.8% a year during that period. Declining dividends isn't generally what we look for as they can indicate that the company is running into some challenges.The Dividend Looks Likely To GrowWith a relatively unstable dividend, it's even more important to evaluate if earnings per share is growing, which could point to a growing dividend in the future. It's encouraging to see that Dine Brands Global has been growing its earnings per share at 21% a year over the past five years. The company doesn't have any problems growing, despite returning a lot of capital to shareholders, which is a very nice combination for a dividend stock to have.We Really Like Dine Brands Global's DividendOverall, we like to see the dividend staying consistent, and we think Dine Brands Global might even raise payments in the future. Earnings are easily covering distributions, and the company is generating plenty of cash. Taking this all into consideration, this looks like it could be a good dividend opportunity.Companies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. However, there are other things to consider for investors when analysing stock performance. Case in point: We've spotted 2 warning signs for Dine Brands Global (of which 1 shouldn't be ignored!) you should know about. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Dine Brands Global's (NYSE:DIN) Dividend Will Be $0.51

https://finance.yahoo.com/news/dine-brands-globals-nyse-din-122229370.html

7a5d51df-2028-3ce1-b2ad-6eaeca5ae0f2

DINO

Murphy USA MUSA recently got approval from its board of directors to increase the quarterly dividend by a penny (or 2.6%) to 39 cents per share, which translates into $1.56 per share on an annualized basis. The new payout will be made on Sep 7 to its common shareholders of record on Aug 28.MUSA continues to display strength across all major categories, thanks to volume and market share gains in tobacco, to go with sales and contribution growth in non-tobacco categories. This positive backdrop, together with Murphy USA’s low-cost model, strong balance sheet and healthy cash flows, allowed the Zacks Rank #3 (Hold) refining and marketing operator to reward investors with a dividend hike last week.  You can see the complete list of today’s Zacks #1 Rank stocks here.While stock buyback continues to be MUSA’s preferred tool to distribute cash, the company’s policy dictates that it ploughs back around 4% of its capital in paying dividends. Agreed, the company’s current dividend yield is very low at less than 1%, but it is well protected with a payout ratio of just 6. As a result, the dividend not only looks quite sustainable but also leaves enough scope for future dividend increases. Investors should note that Murphy USA was one of the very few enterprises to actually initiate their first dividends during the coronavirus crisis of 2020 when countless others were being cut. (Check Murphy USA’s dividend history here)Murphy USA is a leading independent retailer of motor fuel and convenience merchandise in the United States. The El Dorado, AR-based company, in its current form, came into existence following the 2013 spin-off of Murphy Oil Corporation’s downstream business into a separate, independent and publicly- traded entity. Murphy USA markets refined products through a chain of retail stations, almost all of which are located near a Walmart superstore, primarily in the Southeast, Southwest and Midwest United States.Story continues3 Energy Dividend Payers That Offer Better Yields Than MUSAIf you think Murphy USA’s dividend yield is too modest, here are some better choices.HF Sinclair Corporation DINO: A producer and marketer of gasoline, diesel fuel and other specialty products, HF Sinclair pays out a quarterly dividend of 45 cents ($1.80 annualized) per share that gives it a 3.12% yield at the current stock price. The company’s payout ratio is 15, with a five-year dividend growth rate of 6.63%. (Check HF Sinclair’s dividend history here)DINO is valued at some $10.6 billion. The Zacks Consensus Estimate for HF Sinclair’s 2023 earnings has been revised 15.3% upward over the past 30 days. The downstream operator has a trailing four-quarter earnings surprise of roughly 10.4%, on average. DINO shares have gained 9.7% in a year.ExxonMobil XOM: ExxonMobil is one of the largest publicly traded oil and gas companies in the world, which participates in every aspect related to energy — from oil production to refining and marketing. XOM’s dividend of 91 cents per share ($3.64 annualized) represents a 3.31% yield. ExxonMobil’s payout ratio is 29, with a five-year dividend growth rate of 1.75%. (Check ExxonMobil’s dividend history here)ExxonMobil is valued at some $440.5 billion. XOM’s expected EPS growth rate for three to five years is currently 21.4%, which compares favorably with the industry's growth rate of 15.4%. ExxonMobil, headquartered in Irving, TX, has a trailing four-quarter earnings surprise of roughly 5.2%, on average. XOM shares have gained 17.1% in a year.Valero Energy VLO: Among all the independent refiners, Valero offers the most diversified refinery base with a capacity of 3.1 million barrels per day in its 15 refineries located throughout the United States, Canada and the Caribbean. VLO pays out a quarterly dividend of $1.02 ($4.08 annualized) per share, which gives it a 3.05% yield at the current stock price. The company’s payout ratio is 14, with a five-year dividend growth rate of 3.94%. (Check Valero Energy’s dividend history here)Valero is valued at some $47.2 billion. The Zacks Consensus Estimate for VLO’s 2023 earnings has been revised 9.8% upward over the past 30 days. The refining giant has a trailing four-quarter earnings surprise of roughly 9%, on average. VLO shares have gained 12.1% in a 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 reportExxon Mobil Corporation (XOM) : Free Stock Analysis ReportValero Energy Corporation (VLO) : Free Stock Analysis ReportMurphy USA Inc. (MUSA) : Free Stock Analysis ReportHF Sinclair Corporation (DINO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Is Murphy (MUSA) a Good Dividend Stock Choice Post Hike?

https://finance.yahoo.com/news/murphy-musa-good-dividend-stock-120700791.html

42b476b4-8e49-35dd-a67c-383f8479686d

DINO

HF Sinclair Corp (NYSE:DINO) has recently experienced a daily gain of 3.77% and a 3-month gain of 32.67%. The company's Earnings Per Share (EPS) (EPS) stands at 11.78. These promising figures have led many investors to ask: is HF Sinclair (NYSE:DINO) fairly valued? This article aims to answer this question by providing an in-depth analysis of HF Sinclair's valuation. Read on to gain valuable insights into the company's financial performance and intrinsic value.Company IntroductionWarning! GuruFocus has detected 3 Warning Sign with DINO. Click here to check it out. DINO 30-Year Financial DataThe intrinsic value of DINOHF Sinclair Corp (NYSE:DINO) is an integrated petroleum refiner with a noteworthy footprint in the oil and gas industry. The company operates seven refineries across the Rockies, midcontinent, Southwest, and Pacific Northwest, boasting a total crude oil throughput capacity of 678,000 barrels per day. It also has the capability to produce 380 million gallons of renewable diesel annually. HF Sinclair's marketing business spans over 300 distributors and 1,500 wholesale branded sites across 30 states. The company also owns a 47% stake in Holly Energy Partners and has proposed to purchase the remaining 53%.At a price of $60.59 per share, HF Sinclair (NYSE:DINO) has a market cap of $11.20 billion. To better understand the company's value, we will compare this stock price with the GF Value, an estimation of fair value calculated by GuruFocus. This comparison will provide a comprehensive understanding of the company's intrinsic value.Unveiling HF Sinclair (DINO)'s Value: Is It Really Priced Right? A Comprehensive GuideUnderstanding the GF ValueThe GF Value is a unique measure of a stock's intrinsic value, calculated based on historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates. The GF Value Line provides an overview of the fair value at which the stock should ideally be traded.According to GuruFocus, HF Sinclair's stock is fairly valued. This estimate is based on historical multiples, an internal adjustment based on the company's past business growth, and analyst estimates of future business performance. If the stock's share price is significantly above the GF Value Line, the stock may be overvalued and have poor future returns. On the other hand, if the stock's share price is significantly below the GF Value Line, the stock may be undervalued and have high future returns.Story continuesBecause HF Sinclair is fairly valued, the long-term return of its stock is likely to be close to the rate of its business growth.Unveiling HF Sinclair (DINO)'s Value: Is It Really Priced Right? A Comprehensive GuideLink: These companies may deliever higher future returns at reduced risk.Financial StrengthInvesting in companies with poor financial strength carries a higher risk of permanent loss of capital. Thus, it's crucial to review the financial strength of a company before deciding whether to buy its stock. A good starting point for understanding the financial strength of a company is looking at the cash-to-debt ratio and interest coverage. HF Sinclair has a cash-to-debt ratio of 0.46, which is worse than 51.81% of 1021 companies in the Oil & Gas industry. Despite this, GuruFocus ranks the overall financial strength of HF Sinclair at 8 out of 10, indicating that the financial strength of HF Sinclair is strong.Unveiling HF Sinclair (DINO)'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 less risky. A company with high profit margins is usually a safer investment than those with low profit margins. HF Sinclair has been profitable 8 over the past 10 years. Over the past twelve months, the company had a revenue of $35 billion and Earnings Per Share (EPS) of $11.78. Its operating margin is 9.61%, which ranks better than 52.43% of 967 companies in the Oil & Gas industry. Overall, the profitability of HF Sinclair is ranked 8 out of 10, which indicates strong profitability.Growth is probably the most important factor in the valuation of a company. GuruFocus research has found that growth is closely correlated with the long-term stock performance of a company. A faster-growing company creates more value for shareholders, especially if the growth is profitable. The 3-year average annual revenue growth of HF Sinclair is 21.8%, which ranks better than 74% of 850 companies in the Oil & Gas industry. The 3-year average EBITDA growth rate is 29.3%, which ranks better than 67.07% of 820 companies in the Oil & Gas industry.ROIC vs WACCAnother way to evaluate a company's profitability is to compare its return on invested capital (ROIC) to its weighted 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 ROIC is higher than the WACC, it indicates that the company is creating value for shareholders. Over the past 12 months, HF Sinclair's ROIC was 18.91, while its WACC came in at 8.99.Unveiling HF Sinclair (DINO)'s Value: Is It Really Priced Right? A Comprehensive GuideConclusionIn conclusion, the stock of HF Sinclair (NYSE:DINO) is believed to be fairly valued. The company's financial condition is strong and its profitability is strong. Its growth ranks better than 67.07% of 820 companies in the Oil & Gas industry. To learn more about HF Sinclair 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 HF Sinclair (DINO)'s Value: Is It Really Priced Right? A Comprehensive Guide

https://finance.yahoo.com/news/unveiling-hf-sinclair-dino-value-154121187.html

affc5f74-ac98-3763-920a-8fa35148c341

DIS

The theme park has good news for visitors and maybe some added incentive to visit Disney World rather than Universal Studios.Continue reading

TheStreet.com

Disney World brings back beloved ride and an iconic character

https://finance.yahoo.com/m/9a84aaf3-1b40-3e03-8ce5-8bddc0831622/disney-world-brings-back.html

9a84aaf3-1b40-3e03-8ce5-8bddc0831622

DIS

Pairing up the two platforms creates a product that consumers don't need, and don't necessarily even want.Continue reading

Motley Fool

Disney's Streaming Business Needs Help. Owning All of Hulu Probably Won't Provide It.

https://finance.yahoo.com/m/6c2d488b-05f1-3e94-80a1-86591bcdcfba/disney-s-streaming-business.html

6c2d488b-05f1-3e94-80a1-86591bcdcfba

DKDCA

~ Signaling a New Chapter of Growth for the Innovative Solution of Real World Data~MINNEAPOLIS, MN / ACCESSWIRE / May 23, 2023 / OneMedNet Corporation ("OneMedNet" or the "Company"), the leading curator of regulatory-grade Imaging Real Word Data, through its proven OneMedNet iRWD™ solution, today announced the expansion of its executive team with the appointment of healthcare technology veteran, Aaron Green, as President. In this new role, Green will be responsible for all the major growth functions and lead engagement with existing clients, new clients, sales operations, marketing, communications, and product innovation, reporting directly to the CEO.Green is a healthcare technology business transformation leader with more than 20 years of leadership experience in healthcare management, sales, strategic planning, M&A, product development, customer support and services operations. Prior to joining OneMedNet, Green served in a variety of healthcare technology roles including most recently at Change Health Care, acquired by Optum Insights a United Health Group company, a leading healthcare technology company, as Vice President Cloud Solutions. At Optum Insights, Green was responsible for developing and attaining the P&L, Bookings, Revenue and EBIDTA targets of its Cloud Solution lines. Before Optum Insights, Green worked for more than 15 years with McKesson growing to Division Vice President, Sales where he led an organization of executives, salespersons and staff, across the US, Canada, and the US government territories. He holds a Bachelor of Science in Biochemistry from the University of Victoria, British Columbia, a Systems Analyst Diploma from Royal Roads University, British Columbia, and a Business Administration and Management certificate from the Wharton School."As we gear up to become public imminently, we have tremendous opportunity to accelerate our growth opportunities across multiple markets. This is the perfect time for Aaron to join, and we are privileged to have him onboard and part of our leadership team," said Paul Casey, Chief Executive Officer of OneMedNet. "I look forward to working with Aaron as his experience and knowledge expand the strengths of our management team, furthering equipping OneMedNet with the talents to drive growth."Story continuesAaron Green added, "OneMedNet is uniquely positioned within the healthcare technology business of extracting, securing, and transferring medical data as life science companies increasingly demand regulatory grade imaging. I am honored to join the Company at a time when I can contribute my skillsets and experience to propel the Company towards its next stage of growth with a clear path to scale. I look forward to working with Paul, Jeffrey, and the OneMedNet team in driving revenue growth and expanding our footprint."As previously announced, OneMedNet entered into a definitive business combination agreement with Data Knights Acquisition Corp., a special purpose acquisition company, on April 25, 2022, that will result in a newly combined company to be publicly listed on Nasdaq. Upon completion, OneMedNet will be listed under the symbol ONMD.About OneMedNet CorporationFounded in 2009, OneMedNet unlocks the significant value contained within the clinical image archives of healthcare providers by transforming Real-World Data into a valuable, quality asset that can help clinicians improve care and lower costs. Employing its proven OneMedNet iRWD™ solution, OneMedNet securely de-identifies, searches, and curates a data archive locally, bringing a wealth of internal and third-party research opportunities to providers. By leveraging this extensive federated provider network, together with industry leading technology and in-house clinical expertise, OneMedNet successfully meets the most rigorous Real-World Data Life Science requirements. OneMedNet is led by its Chief Executive Officer, Paul Casey and Founder and Chairman, Dr. Jeffrey Yu.Investor ContactShannon DevineMZ Group North [email protected]: ONEMEDNET CORP.View source version on accesswire.com: https://www.accesswire.com/756721/OneMedNet-Appoints-Healthcare-IT-Executive-Aaron-Green-as-President

ACCESSWIRE

OneMedNet Appoints Healthcare IT Executive, Aaron Green, as President

https://finance.yahoo.com/news/onemednet-appoints-healthcare-executive-aaron-200500709.html

8dfe717e-1eb5-3273-a60a-d9926fa33121

DKDCA

MINNEAPOLIS, MN and LONDON, UK / ACCESSWIRE / July 12, 2023 / Data Knights Acquisition Corp. ("Data Knights" or the "Company") (NASDAQ:DKDCA), a special purpose acquisition company, today announced that on July 10, 2023 it caused to be deposited $122,920 into the Company's Trust account, allowing the Company to extend the period of time it has to consummate its initial business combination by one month from July 11, 2023 to August 11, 2023 (the "Extension"). The Extension is the eighth of nine monthly extensions permitted under the Company's governing documents.Cautionary Statement Regarding Forward-Looking StatementsThis press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.ContactsBarry AndersonData Knights Acquisition Corp.Phone: +44 203 833 4000SOURCE: Data Knights Acquisition Corp.View source version on accesswire.com: https://www.accesswire.com/767297/Data-Knights-Acquisition-Corp-Confirms-Funding-to-Extend-Period-to-Consummate-Initial-Business-Combination

ACCESSWIRE

Data Knights Acquisition Corp. Confirms Funding to Extend Period to Consummate Initial Business Combination

https://finance.yahoo.com/news/data-knights-acquisition-corp-confirms-132500345.html

33b0f11a-6ac7-35cb-a4d7-73cb4634ea23

DKS

Dick's Sporting Goods (NYSE: DKS) has held up a lot better than most retailers in recent quarters, but that hasn't helped the stock trade higher than value territory. In this video, Travis Hoium covers why the stock is a great buy today and how it could maintain its strategic position long-term.Continue reading

Motley Fool

3 Reasons to Love Dick's Sporting Goods Stock

https://finance.yahoo.com/m/bda96a43-54a9-39c6-b626-e8fb530b2140/3-reasons-to-love-dick-s.html

bda96a43-54a9-39c6-b626-e8fb530b2140

DKS

DICK'S Sporting Goods, Inc. (NYSE:DKS) is about to trade ex-dividend in the next four days. The ex-dividend date is one business day before the record date, which is the cut-off date for shareholders to be present on the company's books to be eligible for a dividend payment. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. Thus, you can purchase DICK'S Sporting Goods' shares before the 14th of September in order to receive the dividend, which the company will pay on the 29th of September.The company's upcoming dividend is US$1.00 a share, following on from the last 12 months, when the company distributed a total of US$4.00 per share to shareholders. Looking at the last 12 months of distributions, DICK'S Sporting Goods has a trailing yield of approximately 3.6% on its current stock price of $111.4. If you buy this business for its dividend, you should have an idea of whether DICK'S Sporting Goods's dividend is reliable and sustainable. So we need to check whether the dividend payments are covered, and if earnings are growing. See our latest analysis for DICK'S Sporting Goods Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. DICK'S Sporting Goods paid out just 24% of its profit last year, which we think is conservatively low and leaves plenty of margin for unexpected circumstances. A useful secondary check can be to evaluate whether DICK'S Sporting Goods generated enough free cash flow to afford its dividend. Thankfully its dividend payments took up just 25% of the free cash flow it generated, which is a comfortable payout ratio.It's positive to see that DICK'S Sporting Goods's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.Story continuesClick here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. It's encouraging to see DICK'S Sporting Goods has grown its earnings rapidly, up 32% a year for the past five years. DICK'S Sporting Goods is paying out less than half its earnings and cash flow, while simultaneously growing earnings per share at a rapid clip. This is a very favourable combination that can often lead to the dividend multiplying over the long term, if earnings grow and the company pays out a higher percentage of its earnings.The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. In the past 10 years, DICK'S Sporting Goods has increased its dividend at approximately 23% a year on average. It's exciting to see that both earnings and dividends per share have grown rapidly over the past few years.Final TakeawayFrom a dividend perspective, should investors buy or avoid DICK'S Sporting Goods? We love that DICK'S Sporting Goods is growing earnings per share while simultaneously paying out a low percentage of both its earnings and cash flow. These characteristics suggest the company is reinvesting in growing its business, while the conservative payout ratio also implies a reduced risk of the dividend being cut in the future. There's a lot to like about DICK'S Sporting Goods, and we would prioritise taking a closer look at it.In light of that, while DICK'S Sporting Goods has an appealing dividend, it's worth knowing the risks involved with this stock. For example, we've found 1 warning sign for DICK'S Sporting Goods that we recommend you consider before investing in the business.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.

There's A Lot To Like About DICK'S Sporting Goods' (NYSE:DKS) Upcoming US$1.00 Dividend

https://finance.yahoo.com/news/theres-lot-dicks-sporting-goods-121857324.html

8e669993-4f23-382f-a553-d08df6b5144a

DLB

Dolby LaboratoriesDolby Atmos FlexConnectDolby Laboratories, a leader in immersive entertainment experiences, unveiled its latest innovation in immersive audio – Dolby Atmos FlexConnect.Dolby Atmos FlexConnect, a first coming to TCL TVs in 2024, is setting a new benchmark for TV soundDolby Atmos FlexConnectSAN FRANCISCO, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Today, Dolby Laboratories, a leader in immersive entertainment experiences, unveiled its latest innovation in immersive audio – Dolby Atmos FlexConnect. TCL, a world leading TV brand, will be the first to implement Dolby Atmos FlexConnect in its 2024 TV lineup.Dolby Atmos FlexConnect is a new feature that seamlessly pairs together a TV’s sound system with accessory wireless speakers to unlock a more extensive and immersive Dolby Atmos sound experience. It then intelligently optimizes the sound for any room layout and speaker setup, transforming any seat into the best seat in the house. TCL will also launch a line of accessory wireless speakers designed to complement its upcoming lineup of TVs with Dolby Atmos FlexConnect.“Consumers shouldn’t have to move their furniture to experience better audio, but rather audio should adapt to them,” said John Couling, Senior Vice President, Entertainment, Dolby Laboratories. “Dolby Atmos FlexConnect is an entirely new category of experience that offers consumers the freedom and flexibility to choose how they want to arrange their devices while still getting a great immersive Dolby Atmos experience.”“We are very proud to take a significant step forward on the future of immersive audio with our latest partnership with Dolby. Delivering great experiences for our customers is at the forefront of what we do,” said Frédéric Langin, Chief Commercial Officer, TCL Europe. “With Dolby Atmos FlexConnect, users can unlock incredible immersive sound no matter how they arrange their audio devices. We can’t wait to introduce the world to this new tailored sound experience with our upcoming lineup of TVs and accessory wireless speakers.”Unlock the freedom to place each speaker anywhere you chooseConsumers want the best audio possible out of their sound system, but some rooms are too small or too big to place speakers in their optimal position, while others have a unique layout that limits where devices can be placed, such as the location of power outlets or furniture arrangements. Not all consumers want to trade aesthetic appeal for sound performance. And unless calibrated properly, sound systems will assume the speakers are set in reference locations.Story continuesDolby Atmos FlexConnect unlocks the freedom to place one or more wireless speakers anywhere in a room without having to worry about whether they are placed perfectly. The solution is also easily adaptable when more device types are added, which will allow TCL and other manufacturers to innovate with how they bring together different device combinations and form factors to meet the needs of their consumers.The system then intelligently combines each accessory device with the TV’s speakers to unlock the best sound performance and deliver a Dolby Atmos sound experience tailored to their home. With Dolby Atmos FlexConnect, listeners will be drawn deeper into their favorite entertainment, fully immersing them in sound through the simplicity of their TV’s sound system and complementing speakers.The benefits of Dolby Atmos FlexConnect include:Elevate an already immersive Dolby Atmos experience: Dolby Atmos takes entertainment to the next level, immersing audiences in astonishing, multi-dimensional sound. With Dolby Atmos FlexConnect, consumers can unlock the ability to add accessory wireless speakers to their Dolby Atmos-enabled TV to elevate their system’s audio performance one step further.Incredible audio with any speaker placement – Gain the flexibility to place speakers anywhere it's convenient and make the best use of room dimensions, power outlet locations, and furniture arrangements as desired without compromising audio quality.​Simple setup – Setup is simple and fast, requiring no additional equipment or cables. Dolby acoustic mapping leverages microphones in the TV to locate each wireless speaker in the room, calibrating the system automatically to ensure optimal audio performance.​​Dynamic audio balancing​ – Audio is intelligently spread from the TV speakers to each wireless speakers, dynamically optimizing the sound signal based on the capabilities and location of all available speakers. This allows the sound image to be adjusted to ensure listeners are always enjoying best-in-class performance.Dolby and TCL will be showcasing Dolby Atmos FlexConnect at IFA, which will be powered by MediaTek’s Pentonic Smart TV series chipset.To discover more about the collaboration between Dolby and TCL, watch TCL’s 2023 Global Flagship Product Launch on August 29th at 14:00 CEST (or GMT+2) on YouTube (@TCLElectronics).About DolbyDolby Laboratories, Inc. (NYSE: DLB) is based in San Francisco with offices around the globe. From movies and TV shows, to apps, music, sports, and gaming, Dolby transforms the science of sight and sound into spectacular experiences for billions of people worldwide. We partner with artists, storytellers, developers, and businesses to revolutionize entertainment and communications with Dolby Atmos, Dolby Vision, Dolby Cinema, and Dolby.io.About TCL TCL is a fast-growing consumer electronics company and a leading player in the global TV industry. Founded in 1981, it now operates in over 160 markets globally. TCL specializes in the research, development and manufacturing of consumer electronics products ranging from TVs, audio and smart home appliances. Visit the TCL website at https://www.tcl.com.Dolby, Dolby Atmos, and the double-D symbol are trademarks or registered trademarks of Dolby Laboratories in the United States and/or other countries. Other trademarks remain the property of their respective owners.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf9701a0-e3bb-4a12-ba2d-bf42d622e981Media Contacts:Cairon (Jamie) ArmstrongDolby [email protected]

GlobeNewswire

Dolby Unveils New Dolby Atmos Innovation Coming to TCL TVs Ahead of IFA 2023

https://finance.yahoo.com/news/dolby-unveils-dolby-atmos-innovation-123000516.html

eec8b41f-b5bc-3d69-ab98-4b62a6bc9b6e

DLB

It has been about a month since the last earnings report for Sonos (SONO). Shares have lost about 9.7% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Sonos due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Sonos Q3 Earnings Fall Y/Y, 2023 Guidance UpdatedSonos reported third-quarter fiscal 2023 non-GAAP earnings per share (EPS) of 16 cents compared with 19 cents in the prior-year quarter. On a GAAP basis, the company reported a loss of 18 cents against the breakeven reported in the year-ago quarter. The Zacks Consensus Estimate was pegged at breakeven.Quarterly revenues increased 0.4% (up 0.3% on a constant-currency basis) year over year to $373.4 million due to strong consumer demand. However, the top line beat the Zacks Consensus Estimate by 9.6%Revenues DetailsRevenues from Sonos speakers were $289.7 million, down 7.8% from the prior-year quarter’s levels.Sonos system products’ revenues were $64.2 million, up 67.4% year over year. Revenues from Partner products and other totaled $19.3 million, up 0.9% year over year.Region-wise, revenues from the Americas totaled $251.6 million, up 8.3% year over year. Europe, the Middle East and Africa generated revenues of $105.3 million, down 6.5%. Revenues from the Asia Pacific were down 38.4% to $16.4 million.Other DetailsGross profit was $171.7 million, down 2.3% from the prior-year quarter’s levels. Gross margin contracted 130 bps year over year to 46%, mainly due to the lack of promotional activity in the prior-year quarter, partly offset by favorable product mix shift and fewer spot component purchases.Total operating expenses amounted to $193 million, up from $168.9 million in the prior-year quarter, reflecting higher research and development and general and administrative expenses.Operating loss was $21.2 million against the operating income of $6.9 million in the year-ago quarter. Adjusted EBITDA totaled $34.3 million compared with $42.1 million in the prior-year quarter. Lower gross margins and higher headcount mainly resulted in the downside.Story continuesCash Flow & LiquidityFor the fiscal third quarter, Sonos generated $8.9 million of cash from operations. Free cash outflow was $7.8 million.As of Jul 1, 2023, cash and cash equivalents were $268.3 million compared with $294.9 million as of Mar 31. SONO has no debt.Sonos repurchased shares worth $15 million. The company has $54.9 million worth of shares remaining under its $100 million authorization.2023 GuidanceFor fiscal 2023, Sonos now expects revenues to be down 5-6% year over year and in the range of $1.64-$1.66 billion (earlier view: down 4-7% year over year and in the range of $1.625-$1.675 billion). On a constant-currency basis, revenues are anticipated to decline 3-4% (earlier view: decrease in the range of 2-5%).The gross margin is now projected to be between 44% and 44.2%. Adjusted EBITDA is estimated to be between $148 million and $158 million, with the margin in the range of 9-9.5%How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.The consensus estimate has shifted -41.43% due to these changes.VGM ScoresCurrently, Sonos has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, 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 C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Sonos has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.Performance of an Industry PlayerSonos is part of the Zacks Audio Video Production industry. Over the past month, Dolby Laboratories (DLB), a stock from the same industry, has gained 9.1%. The company reported its results for the quarter ended June 2023 more than a month ago.Dolby Laboratories reported revenues of $298.37 million in the last reported quarter, representing a year-over-year change of +3%. EPS of $0.55 for the same period compares with $0.68 a year ago.Dolby Laboratories is expected to post earnings of $0.52 per share for the current quarter, representing a year-over-year change of -3.7%. Over the last 30 days, the Zacks Consensus Estimate has changed -5.9%.Dolby Laboratories has a Zacks Rank #4 (Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSonos, Inc. (SONO) : Free Stock Analysis ReportDolby Laboratories (DLB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Sonos (SONO) Down 9.7% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/sonos-sono-down-9-7-153027634.html

87d56c9b-d6e8-3002-8cfb-8ab3c68a4b03

DLR

Expansion into Rome highlights Digital Realty's integrated strategy across the Mediterranean, enhancing its ability to meet growing customer demand in the regionROME, Sept. 7, 2023 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, today announced its expansion into the Italian market following the acquisition and pre-development planning of land in Rome.Digital Realty (PRNewsfoto/Digital Realty)Digital Realty's expansion into Rome will further strengthen its position as the leading provider of digital infrastructure capacity in the Mediterranean region, building on its existing presence in Athens, Marseille, and Zagreb, as well as hubs currently under development in Barcelona, Crete, and Tel Aviv. Situated in the middle of three continents, the Mediterranean has become the gateway between Europe, Africa, the Middle East, and Asia, and is attracting major intercontinental and regional subsea cable systems, creating one of the most important interconnection and digital traffic exchange areas in the world.Rome is the European Union's third largest city in terms of population and Italy's second largest by gross domestic product. Its strategic geographical location makes the city well-placed to grow its role as a global connectivity hub, complementing Milan, as well as increasing the resilience of Italy's national and international network infrastructure. More importantly, it also helps the city play a key role as a major connectivity hub in the center of the Mediterranean.Digital Realty's vision for the Italian capital as a key Mediterranean connectivity hub is aligned with that of NAMEX, Rome's Internet Exchange. "Digital Realty and NAMEX have a common goal of transforming Rome into a leading global interconnection hub," commented Maurizio Goretti, CEO, NAMEX. Goretti continued: "Digital Realty's pedigree in developing highly connected data communities in carrier-neutral connectivity hubs is a critical ingredient in the achievement of this goal."Story continuesThe first data center (ROM1) is designed as a tier four facility, as classified by the Uptime Institute. Construction is expected to commence in Q4 2023. The site, which covers 22 hectares of land (approximately 220,000 square meters) is located within 15 kilometers of the coast, making it an ideal interconnection point for future subsea cables that will land in Rome.Jan-Pieter Anten, Group Managing Director EMEA, Digital Realty said: "Developing our first data center in Rome is an important part of our integrated strategy across the Mediterranean and strengthens our leadership position in the region. It represents a significant expansion of PlatformDIGITAL®, Digital Realty's global data center platform, further supporting our customers as they rapidly deploy their critical infrastructure at the heart of a growing connected data community."Alessandro Talotta, Managing Director, Digital Realty in Italy, added: "The delivery of a carrier-neutral facility in Rome will help enable the digital transformation strategies of local enterprises and global customers in the region. Our customers will greatly benefit from the facility being highly connected to both terrestrial and subsea cable networks."About Digital RealtyDigital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 27 countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and Twitter.For Additional InformationMedia ContactsWill ReynoldsDigital [email protected] RelationsJordan Sadler / Jim HusebyDigital Realty+1 737 281 [email protected] Harbor StatementThis press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the company's development plans in Italy, its strategy in the Mediterranean, and customer demand in Italy. For a list and description of risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/digital-realty-expands-mediterranean-presence-with-development-of-new-colocation-and-connectivity-hub-in-rome-301920191.htmlSOURCE Digital Realty

PR Newswire

Digital Realty Expands Mediterranean Presence with Development of New Colocation and Connectivity Hub in Rome

https://finance.yahoo.com/news/digital-realty-expands-mediterranean-presence-080000829.html

9ebb19a6-04cc-35d7-8d47-6001d42c8aaf

DLR

Expanding into the Italian market, Digital Realty DLR recently acquired land in Rome and commenced pre-development planning for a new colocation and connectivity hub. The company’s efforts to transform Rome into a key Mediterranean connectivity hub are in sync with the city’s Internet Exchange — NAMEX.Digital Realty’s latest move seems like a strategic fit as it further strengthens its position as the leading provider of digital infrastructure capacity in the Mediterranean region, a key gateway between Europe, Africa, the Middle East and Asia.Rome’s strategic geographical location is likely to play a pivotal role in making the city a global connectivity hub alongside Milan and enhancing the resiliency of Italy's national and international network infrastructure.The city is expected to emerge as a major connectivity hub in the center of the Mediterranean. It is the third-largest city in the European Union in terms of population and the second-largest in Italy by gross domestic product.  The construction of the first data center facility, ROM1, is likely to start in the fourth quarter of 2023. The four-tier facility, as classified by the Uptime Institute, is situated on a 22-hectare piece of land (around 220,000 square meters) and is within 15 kilometers of the coast. This positioning makes it an ideal point for future subsea cables that will land in Rome.Per Alessandro Talotta, managing director, Digital Realty in Italy, “The delivery of a carrier-neutral facility in Rome will help enable the digital transformation strategies of local enterprises and global customers in the region. Our customers will greatly benefit from the facility being highly connected to both terrestrial and subsea cable networks.”The Mediterranean region is drawing attention for major intercontinental and regional subsea cable systems, paving the way for one of the most important interconnection and digital traffic exchange areas in the world.This data center real estate investment trust (REIT) already has a wide presence in the region, with data center facilities present in Athens, Marseille and Zagreb and hubs that are currently under development in Barcelona, Crete and Tel Aviv.With the demand for high-performing data centers expected to increase in the coming years, owing to the escalation in cloud computing, the Internet of Things and the rising demand for third-party IT infrastructure, DLR’s strategic expansion moves position it well to capitalize on the upbeat trend.Growth in the artificial intelligence, autonomous vehicle and virtual/augmented reality markets is expected to pick up pace over the next five to six years, boding well for the company’s long-term growth.DLR currently carries a Zacks Rank #3 (Hold). Its shares have gained 16.1% in the quarter-to-date period against the industry’s decline of 2.1%.Nonetheless, given the strong growth potential of the industry, competition from existing and new players in the space could prompt competitors to resort to aggressive pricing policies, making DLR vulnerable to pricing pressure. Also, high-interest rates pose concerns for the company.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks from the REIT sector are Welltower WELL, SBA Communications SBAC and Americold Realty Trust COLD, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Welltower’s 2023 FFO per share has been raised marginally over the past month to $3.53.The Zacks Consensus Estimate for SBA Communications’ current-year FFO per share has moved marginally northward over the past month to $12.88.The Zacks Consensus Estimate for Americold Realty Trust’s ongoing year’s FFO per share has been raised by 3.3% over the past month to $1.26.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.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 reportDigital Realty Trust, Inc. (DLR) : Free Stock Analysis ReportSBA Communications Corporation (SBAC) : Free Stock Analysis ReportAmericold Realty Trust Inc. (COLD) : Free Stock Analysis ReportWelltower Inc. (WELL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Digital Realty (DLR) Expands Into Rome to Boost Digital Growth

https://finance.yahoo.com/news/digital-realty-dlr-expands-rome-141400055.html

0cc2bb6a-7760-3927-8ed8-3c463750d0fd

DLTR

Last quarter's reports were all over the map, but they actually make a lot of sense when you step back and look at the bigger picture.Continue reading

Motley Fool

4 Important Investor Takeways From Retailers' Q2 Earnings

https://finance.yahoo.com/m/b7a9f766-bd40-31e9-b309-cd7d3fce2fa8/4-important-investor-takeways.html

b7a9f766-bd40-31e9-b309-cd7d3fce2fa8

DLTR

Prostock-Studio / iStock.comGroceries are something we all buy. Whether we are searching for high-quality and expensive organic food at fancy retailers or stocking up on generic brands at big-box stores, no one can avoid a trip to the grocery store to pick up some items every now and again.Find Out: Are These 8 Costco Items With Cult Followings Worth the Hype (and Money)?See: How To Get Cash Back on Your Everyday PurchasesLike most tricks and tips for saving, there’s a right way and a wrong way to budget for groceries. You might be asking yourself how much do you need to budget for grocery shopping on a weekly or monthly basis? How exactly do you determine the final dollar amount? Even more importantly: How can you put that budget into action and stick to it, no matter what catches your eyes on the shelves?GOBankingRates contacted some personal finance experts who shared how much they budget for groceries and tips for what you can do to stretch a tight budget on essential food and home items you are currently buying.Brian Quigley, Founder at Beacon LendingGrocery Budget: $600 per monthQuigley said that his weekly budget, or as he refers to it the “Sweet Spot,” is a personalized combination of dietary preferences in addition to “a comprehensive assessment of my monthly income, after setting aside funds for fixed expenses such as mortgage payments and utilities.”According to Quigley, the best way to stay within the boundaries of your budget is to strategize before you even get to the grocery store.“Avoiding budget overshoot requires a mix of discipline and savvy shopping,” Quigley said. “I often shop with a list to curtail impulse buys, and always keep an eye out for deals and discounts.”“Moreover, understanding the seasonality of produce can lead to significant savings,” he said. “For instance, buying strawberries in summer rather than winter can make a noticeable difference in the total bill.”I Stopped Shopping at Dollar Tree: Here’s WhyIan Rodda, CFO at Page One FormulaGrocery Budget: $400 per monthStory continuesRodda said that his monthly $400 budget is based on prior spending trends, as well as any nutritional needs.“Staying within budget is easier when you leverage bulk buying and seasonal produce,” Rodda said. “It’s a calculated part of our operational expenses that ensures the family is fueled and productive.”When it comes to any tips for shoppers who are on limited funds when it comes to buying groceries, Rodda has a mixture of advice: “Don’t wing it; always shop with a list. Use cashback and coupon apps, and don’t underestimate the value of store-brand items for cost-effective quality.”Lisa Shelby, Senior Editor at The PricerGrocery Budget: $150 per week“Personally, I’ve set a $150 weekly grocery budget,” Shelby said.The breakdown of her typical budget looks like this: fresh vegetables ($40), proteins like chicken and fish ($30), grains and pasta ($20), dairy and alternatives ($25), and $35 for snacks, fruits and other essentials.“This budget is not arbitrary,” Shelby said, “It is based on historical spending and nutritional needs. I always emphasize the importance of a categorized shopping list; it’s a game-changer. It not only helps in prioritizing essentials but also in sidestepping those impulse buys.”When it comes to budgeting at the grocery store, Shelby had these tips to share: “[B]uy in-season produce, as it’s cheaper and fresher; embrace store-brand products, often they’re just as good as name brands and never underestimate the power of loyalty cards and cash-back apps.”“Lastly,” Shelby said, “a periodic pantry audit ensures nothing goes to waste and a detailed list, combined with strategic shopping days helps you buy what’s truly needed.”Aghogho Boccardi, Hope Like A MotherGrocery Budget: $650 per monthBoccardi has a family of four to feed, meaning that staying on a grocery budget is essential for her household’s long-term finances. How does she make this happen?“We determined this number by tracking our grocery receipts every time we went grocery shopping. We would write it down on a shared Excel sheet. After a few months, we were able to determine the general amount we spent on groceries each month.”Boccardi said that amount has changed over the years since she and her husband had kids, but that they are able to keep the current number under $700 each month. The secret to staying on budget? It’s a meaty answer.“We stay on budget by only buying the meat on sale. We never buy any expensive meat like steak, duck, lamb, etc.,” Boccardi said, adding that her family’s meals are planned around the meat of the day including “chicken and occasionally pork because it’s usually the cheapest meat.”Other carnivorous saving tips Boccardi shared for grocery budgeting included buying meat in bulk and freezing it for later use and staying away from purchasing expensive cuts of meat.If you have fallen on hard times and need some extra assistance with food, Boccardi recommends using a food bank in your neighborhood or city.“Food banks are for people who are on a tight budget and need some help,” Boccardi said. “There’s no shame in using one.”More From GOBankingRatesThe Average American Spends This Much on Rent -- See How You Stack UpSocial Security Schedule: When Benefits Will Arrive in September 20233 Things You Must Do When Your Savings Reach $50,000Help Protect Yourself Online: 6 Best Strategies to Safeguard Against Online FraudThis article originally appeared on GOBankingRates.com: I’m a Personal Finance Expert: Here’s How Much I Budget for Groceries

GOBankingRates

I’m a Personal Finance Expert: Here’s How Much I Budget for Groceries

https://finance.yahoo.com/news/m-personal-finance-expert-much-160050128.html

48b416d5-6e11-3fc8-9c36-2b7168322f58

DLX

An initiative of the state’s university system is key to helping prepare workers for Atlanta’s financial technology industry says the CEO of one of Georgia's largest fintech companies.Continue reading

American City Business Journals

Deluxe CEO: Georgia program provides 'fertile hunting ground' for hiring

https://finance.yahoo.com/m/d8ff8b3b-6689-30bc-8fab-796d9e3894af/deluxe-ceo-georgia-program.html

d8ff8b3b-6689-30bc-8fab-796d9e3894af

DLX

While Deluxe Corporation (NYSE:DLX) might not be the most widely known stock at the moment, it saw a significant share price rise of over 20% in the past couple of months on the NYSE. As a small cap stock, which tends to lack high analyst coverage, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value. Is there still an opportunity here to buy? Let’s take a look at Deluxe’s outlook and value based on the most recent financial data to see if the opportunity still exists. Check out our latest analysis for Deluxe Is Deluxe Still Cheap?Great news for investors – Deluxe is still trading at a fairly cheap price according to my price multiple model, where I compare the company's price-to-earnings ratio to the industry average. I’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 17.04x is currently well-below the industry average of 26.43x, meaning that it is trading at a cheaper price relative to its peers. However, given that Deluxe’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. This is based on its high beta, which is a good indicator for share price volatility.What does the future of Deluxe look like?earnings-and-revenue-growthInvestors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. Deluxe's earnings over the next few years are expected to increase by 31%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.What This Means For YouAre you a shareholder? Since DLX is currently trading below the industry PE ratio, it may be a great time to accumulate more of your holdings in the stock. With an optimistic profit outlook on the horizon, it seems like this growth has not yet been fully factored into the share price. However, there are also other factors such as capital structure to consider, which could explain the current price multiple.Story continuesAre you a potential investor? If you’ve been keeping an eye on DLX for a while, now might be the time to make a leap. Its prosperous future profit outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy DLX. But before you make any investment decisions, consider other factors such as the track record of its management team, in order to make a well-informed assessment.So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. For example, Deluxe has 3 warning signs (and 2 which are significant) we think you should know about.If you are no longer interested in Deluxe, you can use our free platform to see our list of over 50 other stocks with a high growth potential.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Why Deluxe Corporation (NYSE:DLX) Could Be Worth Watching

https://finance.yahoo.com/news/why-deluxe-corporation-nyse-dlx-114630885.html

c8859b1f-4eeb-36b2-ab43-e773056fd7ef

DMRC

Subscription Revenue Increases 59% on Current ProductsSubscription Gross Profit Margin Reaches 84%BEAVERTON, Ore., August 02, 2023--(BUSINESS WIRE)--Digimarc Corporation (NASDAQ: DMRC) reported financial results for the second quarter ended June 30, 2023."Q2 was a strong quarter on many fronts, a testament to our focus on being easy to begin doing business with and excellent at guiding customers along their product digitization journey," said Digimarc CEO Riley McCormack. "A combination of our adding new customers as well as expanding our relationships with existing customers drove a 59% year-over-year increase in subscription revenue from current products, and that, along with our continuing platform unification work, drove a 1,100 basis point year-over-year increase in subscription gross profit margin to 84%. The results of our transformation are beginning to become obvious, and we are excited and energized by what's ahead."Second Quarter 2023 Financial ResultsSubscription revenue for the second quarter of 2023 increased 44% to $4.7 million compared to $3.2 million in the second quarter of 2022, primarily reflecting higher subscription revenue from new commercial contracts, partially offset by $0.3 million of lower subscription revenue as a result of sunsetting our Piracy Intelligence product last year.Service revenue for the second quarter of 2023 decreased 10% to $4.1 million compared to $4.5 million in the second quarter of 2022, primarily reflecting $0.7 million of lower service revenue from HolyGrail recycling projects, partially offset by $0.3 million of higher service revenue from the Central Banks.Total revenue for the second quarter of 2023 increased 13% to $8.7 million compared to $7.7 million in the second quarter of 2022.Gross profit margin for the second quarter of 2023 increased to 56% compared to 52% in the second quarter of 2022. Excluding amortization expense on acquired intangible assets, subscription gross profit margin improved to 84% from 73% while service gross profit margin decreased to 51% from 61% in the second quarter of 2023 compared to the second quarter of 2022.Story continuesNon-GAAP gross profit margin for the second quarter of 2023 increased to 74% compared to 71% in the second quarter of 2022.Operating expenses for the second quarter of 2023 decreased $2.8 million, or 15%, to $16.1 million compared to $18.9 million in the second quarter of 2022, primarily reflecting $2.3 million of lower compensation costs due to lower headcount, partially offset by annual compensation adjustments, and $0.5 million of lower contractor and consulting expenses.Non-GAAP operating expenses for the second quarter of 2023 decreased $2.1 million, or 14%, to $12.9 million compared to $15.0 million in the second quarter of 2022.Net loss for the second quarter of 2023 was $10.6 million or $(0.53) per share compared to $14.6 million or $(0.75) per share in the second quarter of 2022.Non-GAAP net loss for the second quarter of 2023 was $5.8 million or $(0.29) per share compared to $9.2 million or $(0.47) per share in the second quarter of 2022.At June 30, 2023, cash, cash equivalents and marketable securities totaled $34.5 million compared to $52.5 million at December 31, 2022.Conference CallDigimarc will hold a conference call today (Wednesday, August 2, 2023) to discuss these financial results and to provide a business update. CEO Riley McCormack, CFO Charles Beck and CLO Joel Meyer will host the call starting at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A question and answer session will follow management’s prepared remarks.The conference call will be broadcast live and available for replay here and in the investor section of the company's website. The conference call script will also be posted to the company's website shortly before the call.For those who wish to call in via telephone to ask a question, please dial the number below at least five minutes before the scheduled start time:Toll-Free Number: 877-407-0832International Number: 201-689-8433Conference ID: 13737194About DigimarcDigimarc Corporation (NASDAQ: DMRC) is a global leader in product digitization. A pioneer in digital watermarks, Digimarc connects every physical and digital item to a digital twin that captures product data, records events and interactions, and enables powerful new automations. Trusted to deter counterfeiting of global currency for more than 20 years, Digimarc is also recognized for ensuring product authenticity, improving plastics recycling, and more, with a commitment to promoting a prosperous, safer, and more sustainable world. See more at digimarc.com.Forward-Looking StatementsExcept for historical information contained in this release, the matters described in this release contain various "forward-looking statements." These forward-looking statements include statements identified by terminology such as "will," "should," "expects," "estimates," "predicts" and "continue" or other derivations of these or other comparable terms. These forward-looking statements are statements of management's opinion and are subject to various assumptions, risks, uncertainties and changes in circumstances. Actual results may vary materially from those expressed or implied from the statements in this release as a result of changes in economic, business and regulatory factors. More detailed information about risk factors that may affect actual results are outlined in the company's Form 10-K for the year ended December 31, 2022, and in subsequent periodic reports filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date of this release. Except as required by law, Digimarc undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this release.Non-GAAP Financial MeasuresThis release contains the following non-GAAP financial measures: Non-GAAP gross profit, Non-GAAP gross profit margin, Non-GAAP operating expenses, Non-GAAP net loss, and Non-GAAP loss per share (diluted). See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure. These non-GAAP financial measures are an important measure of our operating performance because they allow management, investors and analysts to evaluate and assess our core operating results from period-to-period after removing non-cash and non-recurring activities that affect comparability. Our management uses these non-GAAP financial measures in evaluating its financial and operational decision making and as a means to evaluate period-to-period comparisons.Digimarc believes that providing these non-GAAP financial measures, together with the reconciliation to GAAP, helps management and investors make comparisons between us and other companies. In making any comparisons to other companies, investors need to be aware that companies use different non-GAAP measures to evaluate their financial performance. Investors should pay close attention to the specific definition being used and to the reconciliation between such measures and the corresponding GAAP measures provided by each company under applicable SEC rules. These non-GAAP financial measures are not measurements of financial performance or liquidity under GAAP. In order to facilitate a clear understanding of its consolidated historical operating results, investors should examine Digimarc’s non-GAAP financial measures in conjunction with its historical GAAP financial information, and investors should not consider non-GAAP financial measures in isolation or as substitutes for performance measures calculated in accordance with GAAP. Non-GAAP financial measures should be viewed as supplemental to, and should not be considered as alternatives to, GAAP financial measures. Non-GAAP financial measures may not be indicative of the historical operating results of the Company nor are they intended to be predictive of potential future results.Digimarc CorporationConsolidated Income Statement Information(in thousands, except per share amounts)(Unaudited)Three Months Ended June 30,Six Months Ended June 30,2023202220232022Revenue:Subscription$4,678$3,244$8,563$7,035Service4,0524,5038,0108,123Total revenue8,7307,74716,57315,158Cost of revenue:Subscription (1)7718861,5661,928Service (1)1,9681,7443,6833,575Amortization expense on acquired intangible assets1,1221,1202,2112,314Total cost of revenue3,8613,7507,4607,817Gross profit:Subscription (1)3,9072,3586,9975,107Service (1)2,0842,7594,3274,548Amortization expense on acquired intangible assets(1,122)(1,120)(2,211)(2,314)Total gross profit4,8693,9979,1137,341Gross profit margin:Subscription (1)84%73%82%73%Service (1)51%61%54%56%Total gross profit margin56%52%55%48%Operating expenses:Sales and marketing5,1068,07311,40416,018Research, development and engineering6,1616,06513,98712,156General and administrative4,3524,4878,97910,895Amortization expense on acquired intangible assets268321528663Impairment of lease right of use assets and leasehold improvements250-250574Total operating expenses16,13718,94635,14840,306Operating loss(11,268)(14,949)(26,035)(32,965)Other income, net647931,39289Loss before income taxes(10,621)(14,856)(24,643)(32,876)(Provision) benefit for income taxes(2)217(20)456Net loss$(10,623)$(14,639)$(24,663)$(32,420)Loss per share:Loss per share — basic$(0.53)$(0.75)$(1.23)$(1.76)Loss per share — diluted$(0.53)$(0.75)$(1.23)$(1.76)Weighted average shares outstanding — basic20,16219,53920,12818,448Weighted average shares outstanding — diluted20,16219,53920,12818,448(1)Cost of revenue, Gross profit and Gross profit margin for Subscription and Service excludes amortization expense on acquired intangible assets.Digimarc CorporationReconciliation of GAAP to Non-GAAP Financial Measures(in thousands, except per share amounts)(Unaudited)Three Months Ended June 30,Six Months Ended June 30,2023202220232022GAAP gross profit$4,869$3,997$9,113$7,341Amortization of acquired intangible assets1,1221,1202,2112,314Amortization and write-off of other intangible assets146144290285Stock-based compensation318265556466Non-GAAP gross profit$6,455$5,526$12,170$10,406Non-GAAP gross profit margin74%71%73%69%GAAP operating expenses$16,137$18,946$35,148$40,306Depreciation and write-off of property and equipment(260)(330)(688)(720)Amortization of acquired intangible assets(268)(321)(528)(663)Amortization and write-off of other intangible assets(9)(29)(48)(59)Amortization of lease right of use assets under operating leases(166)(249)(332)(520)Stock-based compensation(2,260)(3,009)(4,898)(5,276)Impairment of lease right of use assets and leasehold improvements(250)—(250)(574)Acquisition-related expenses—(3)—(447)Non-GAAP operating expenses$12,924$15,005$28,404$32,047GAAP net loss$(10,623)$(14,639)$(24,663)$(32,420)Total adjustments to gross profit1,5861,5293,0573,065Total adjustments to operating expenses3,2133,9416,7448,259Non-GAAP net loss$(5,824)$(9,169)$(14,862)$(21,096)GAAP loss per share (diluted)$(0.53)$(0.75)$(1.23)$(1.76)Non-GAAP net loss$(5,824)$(9,169)$(14,862)$(21,096)Non-GAAP loss per share (diluted)$(0.29)$(0.47)$(0.74)$(1.14)Digimarc CorporationConsolidated Balance Sheet Information(in thousands)(Unaudited)June 30,December 31,20232022ASSETSCurrent assets:Cash and cash equivalents (1)$26,825$33,598Marketable securities (1)7,71718,944Trade accounts receivable, net11,9815,427Other current assets4,4456,172Total current assets50,96864,141Property and equipment, net1,7752,390Intangibles, net31,42133,170Goodwill8,5688,229Lease right of use assets4,2024,720Other assets1,3881,127Total assets$98,322$113,777LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent liabilities:Accounts payable and other accrued liabilities$5,162$5,989Deferred revenue8,1014,145Total current liabilities13,26310,134Long-term lease liabilities6,0665,977Other long-term liabilities35576Total liabilities19,68416,187Shareholders’ equity:Preferred stock5050Common stock2020Additional paid-in capital371,893367,692Accumulated deficit(290,472)(265,809)Accumulated other comprehensive loss(2,853)(4,363)Total shareholders’ equity78,63897,590Total liabilities and shareholders’ equity$98,322$113,777(1)Aggregate cash, cash equivalents, and marketable securities was $34,542 and $52,542 at June 30, 2023 and December 31, 2022, respectively.Digimarc CorporationConsolidated Cash Flow Information(in thousands)(Unaudited)Six Months Ended June 30,20232022Cash flows from operating activities:Net loss$(24,663)$(32,420)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and write-off of property and equipment688720Amortization of acquired intangible assets2,7392,977Amortization and write-off of other intangible assets338344Amortization of lease right of use assets under operating leases332520Stock-based compensation5,4545,742Impairment of lease right of use assets and leasehold improvements250574Changes in operating assets and liabilities:Trade accounts receivable(6,492)1,776Other current assets1,827(600)Other assets(268)(568)Accounts payable and other accrued liabilities(839)(2,881)Deferred revenue4,106(1,043)Lease liability and other long-term liabilities38(808)Net cash used in operating activities(16,490)(25,667)Cash flows from investing activities:Net cash paid for acquisition—(3,512)Purchase of property and equipment(121)(716)Capitalized patent costs(198)(271)Proceeds from maturities of marketable securities19,98411,148Purchases of marketable securities(8,664)(4,908)Net cash provided by investing activities11,0011,741Cash flows from financing activities:Issuance of common stock, net of issuance costs—58,220Purchase of common stock(1,280)(974)Repayment of loans(16)(17)Net cash (used in) provided by financing activities(1,296)57,229Effect of exchange rate on cash12(41)Net (decrease) increase in cash and cash equivalents (2)$(6,773)$33,262Cash, cash equivalents and marketable securities at beginning of period52,54241,618Cash, cash equivalents and marketable securities at end of period34,54268,390(2) Net (decrease) increase in cash, cash equivalents and marketable securities$(18,000)$26,772View source version on businesswire.com: https://www.businesswire.com/news/home/20230802322019/en/ContactsCharles BeckChief Financial [email protected] +1 503-469-4721

Business Wire

Digimarc Reports Second Quarter 2023 Financial Results

https://finance.yahoo.com/news/digimarc-reports-second-quarter-2023-200500600.html

06a40312-b01c-3694-aa35-e4b9d405fe1f

DMRC

Netto Store Brand Food and Beverage Products are Digimarc Recycle-ReadyDigimarc partnership: non-visible digital watermarks ensure easier scanning and valuable packaging designSustainable: Digimarc Recycle enables a future with optimized plastic recyclingBEAVERTON, Ore., August 08, 2023--(BUSINESS WIRE)--Digimarc Corporation (NASDAQ: DMRC) and the German retailer Netto Marken-Discount announced an important milestone in delivering an easier, more efficient checkout while ensuring Netto-branded products at Netto’s 4,300 stores nationwide, are Digimarc Recycle-ready. Netto private labeled food and beverage products are now digitized using Digimarc’s product digitization technology, including incorporating covert Digimarc digital watermarks into the packaging.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230808509063/en/German retailer Netto Marken-Discount announced an important milestone in delivering an easier, more efficient checkout while ensuring Netto-branded products at Netto’s 4,300 stores nationwide are Digimarc Recycle-ready. (Photo: Business Wire)"It is exciting to partner with retailers like Netto that are setting the example for the rest of the industry and leading the way for a circular economy," said Digimarc CEO Riley McCormack. "More sustainable packaging is becoming a business imperative, and Digimarc’s digital watermarks are transforming recycling as a validated way to improve circularity dramatically.""We initially cooperated with Digimarc to optimize our checkout by digitizing our private label food and beverage products with Digimarc’s technology," said Christina Stylianou, Netto Corporate Spokesperson. "Netto is now also well positioned to adopt Digimarc Recycle by leveraging the same Digimarc digital watermarking technology that makes the checkout easier and more efficient. We are ready and excited for Digimarc Recycle to come to Germany in the near future."Story continuesRetailers like Netto implement Digimarc’s digital watermarking, imperceptible to the human eye, across a package's or label artwork's surface area. The covert nature of digital watermarks works well with packaging designs and branding. Netto has enhanced 1000s of food and beverage packages with digital watermarks.Since 2018, Netto Marken-Discount has been the first and only retailer in Germany to integrate Digimarc's digital watermarks on the packaging of its private-label food range. "The fact that Digimarc digital watermarks didn’t obscure our branding and therefore enhanced packaging was another important factor in selecting Digimarc as a long-term partner," added Ms. Stylianou.Leading the Way to CircularityNetto boasts an extensive sustainability program — assuming responsibility for business outcomes is part of the Netto corporate culture. The retailer focuses on four areas: the careful use of resources, a sustainable purchasing strategy, fair trade and cooperation, and social commitment. In addition to expanding Netto’s sustainable private-label products, the retailer is reducing its ecological footprint through initiatives focused on climate protection, biodiversity, freshwater, and resources."At Netto, we are committed to less plastic packaging, more recycling, and more responsibility," said Ms. Stylianou. "Digimarc is a valued partner in supporting us in achieving our sustainability goals as we look to the future."Commitment to End Plastic Pollution WorldwideThe technology to effect change exists today. Digimarc Recycle represents a revolution in the sortation of plastic waste and recycling. By linking covert digital watermarks (used to deterministically identify plastic packaging to any desired level of granularity) with an extensible cloud-based repository of product attributes (such as brand, SKU, product variant, packaging composition, food/non-food use, etc.), Digimarc Recycle overcomes the limitations of today’s optical sorting technologies to drive a step-change improvement in the quality and quantity of recyclate. Moreover, the same information used to drive this advanced sortation in facilities can provide product-specific and location-based disposal instructions via a brand-owned direct-to-consumer digital communication channel accessed via on-pack watermarks or QR codes.In addition to providing the information necessary to power advanced sortation at recycling facilities, Digimarc Recycle captures and provides a holistic view of the post-purchase product journey, unlocking never-before-seen data benefitting stakeholders across the value chain.Digimarc Recycle is expected to launch soon in France and Canada, with conversations ongoing in other countries around the globe. In addition, Digimarc’s product digitization technology has recently been chosen to guard the integrity of a national deposit-return system (DRS), further extending the power of Digimarc’s technology to promote a more sustainable world."We look forward to our continued work with Netto and other retailers and brands to end plastic pollution. The solution begins with a commitment to act. I want to thank Netto Marken-Discount for being a wonderful partner to Digimarc, and to the planet," McCormack concluded.About Netto Marken-DiscountNetto Marken-Discount is one of the leading companies in food retailing with more than 4,300 stores, around 84,000 employees, 21 million customers every week and a turnover of 15.8 billion euros. With around 5,000 articles and a focus on fresh products, Netto Marken-Discount has the largest food assortment in the discount sector. Assuming responsibility is part of Netto's corporate culture - the retailer focuses on four key areas: Social commitment, fair cooperation, careful use of resources and aligning the purchasing strategy with sustainability aspects. Netto is a partner of WWF Germany: in addition to expanding and promoting its more sustainable private label range, Netto is also working to further reduce its own ecological footprint by focusing on climate protection, biodiversity, fresh water and resources.About DigimarcDigimarc Corporation (NASDAQ: DMRC) is a global leader in product digitization. A pioneer in digital watermarks, Digimarc connects every physical and digital item to a digital twin that captures product data, records events and interactions, and enables powerful new automations. Trusted to deter counterfeiting of global currency for more than 20 years, Digimarc is also recognized for ensuring product authenticity, improving plastics recycling, and more, with a commitment to promoting a prosperous, safer, and more sustainable world. See more at Digimarc.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230808509063/en/ContactsSusan BaldwinDigimarc Corporate [email protected] HabibiThe Hoffman [email protected]

Business Wire

German Retailer Netto Hits Milestone in Commitment to a Future with Optimized Checkout and More Efficient Plastic Recycling

https://finance.yahoo.com/news/german-retailer-netto-hits-milestone-130500631.html

abcfa466-8b2c-372f-ba35-e7c3bd4e84d6

DMTK

SAN DIEGO, August 25, 2023--(BUSINESS WIRE)--DermTech, Inc. (NASDAQ: DMTK) ("DermTech" or the "Company"), a leader in precision dermatology enabled by a non-invasive skin genomics technology, today announced the grant to six new employees of restricted stock units representing the contingent right to receive up to an aggregate of 24,720 shares of the Company’s common stock under its 2022 Inducement Equity Incentive Plan, as amended, or the 2022 Inducement Plan. The restricted stock units were approved by DermTech’s Compensation Committee, effective August 22, 2023, and were granted as inducements material to the employee’s acceptance of employment with DermTech in accordance with Nasdaq Listing Rule 5635(c)(4).The 24,720 restricted stock units shall vest over 4 years as follows: (i) twenty-five percent of the restricted stock units will vest on September 5, 2024 and (ii) the remaining seventy-five percent of the restricted stock units will vest in equal quarterly installments until fully vested on September 5, 2027, subject to the employee’s continued employment with the Company on these vesting dates. The restricted stock units are also subject to the terms and conditions of the 2022 Inducement Plan, and the terms and conditions of the equity award agreements covering the grants.About DermTechDermTech is a leading genomics company in dermatology and is creating a new category of medicine, precision dermatology, enabled by its non-invasive skin genomics technology. DermTech’s mission is to improve the lives of millions by providing non-invasive precision dermatology solutions that enable individualized care. DermTech provides genomic analysis of skin samples collected non-invasively using our Smart Stickers™. DermTech markets and develops products that facilitate the early detection of skin cancers. For additional information, please visit DermTech.Forward-Looking StatementsThis press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of DermTech may differ from its actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "outlook," "anticipate," "intend," "plan," "may," "will," "could," "should," "believe," "predict," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations and evaluations with respect to: the performance, patient benefits, cost- effectiveness, commercialization and adoption of DermTech’s products and the market opportunity for these products, DermTech’s positioning and potential growth, financial outlook and future financial performance, ability to increase its proportion of reimbursed billable samples, ability to maintain or improve its operating efficiency and reduce operating expenses, the sufficiency of DermTech’s cash resources and runway and ability to access capital to fund its operating plan, the sufficiency of its cash resources to fund planned operations for the anticipated period, anticipated annual cash savings to be realized from the restructuring, implications and interpretations of any study results, and expectations regarding agreements with or reimbursement or cash collection patterns from government payers (including Medicare) or commercial payers and related billing practices or number of covered lives. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the control of DermTech and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against DermTech; (2) DermTech’s ability to obtain additional funding to develop and market its products; (3) the existence of favorable or unfavorable clinical guidelines for DermTech’s tests; (4) the reimbursement of DermTech’s tests by government payers (including Medicare) and commercial payers; (5) the ability of patients or healthcare providers to obtain coverage of or sufficient reimbursement for DermTech’s products; (6) DermTech’s ability to grow, manage growth and retain its key employees and maintain or improve its operating efficiency and reduce operating expenses; (7) changes in applicable laws or regulations; (8) the market adoption and demand for DermTech’s products and services together with the possibility that DermTech may be adversely affected by other economic, business, and/or competitive factors; and (9) other risks and uncertainties included in the "Risk Factors" section of the most recent Annual Report on Form 10-K filed by DermTech with the Securities and Exchange Commission (the "SEC"), and other documents filed or to be filed by DermTech with the SEC, including subsequently filed reports. DermTech cautions that the foregoing list of factors is not exclusive. You should not place undue reliance upon any forward- looking statements, which speak only as of the date made. DermTech does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230825747268/en/ContactsSteve KunszaboDermTech(858) [email protected]

Business Wire

DermTech Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

https://finance.yahoo.com/news/dermtech-announces-inducement-grants-under-120500147.html

69d18f78-82cc-3b3b-b525-d56ad1a6459a

DMTK

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. DiaMedica Therapeutics, Inc. (DMAC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.DiaMedica Therapeutics, Inc. is a member of the Medical sector. This group includes 1113 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DiaMedica Therapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for DMAC's full-year earnings has moved 23.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.According to our latest data, DMAC has moved about 86.7% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 2.7% on average. As we can see, DiaMedica Therapeutics, Inc. is performing better than its sector in the calendar year.One other Medical stock that has outperformed the sector so far this year is DermTech, Inc. (DMTK). The stock is up 35.6% year-to-date.For DermTech, Inc. the consensus EPS estimate for the current year has increased 6.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).To break things down more, DiaMedica Therapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 534 individual companies and currently sits at #95 in the Zacks Industry Rank. On average, this group has lost an average of 11.1% so far this year, meaning that DMAC is performing better in terms of year-to-date returns.Story continuesOn the other hand, DermTech, Inc. belongs to the Medical Services industry. This 67-stock industry is currently ranked #152. The industry has moved -7.2% year to date.Investors with an interest in Medical stocks should continue to track DiaMedica Therapeutics, Inc. and DermTech, Inc. These stocks will be looking to continue their solid performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDiaMedica Therapeutics, Inc. (DMAC) : Free Stock Analysis ReportDermTech, Inc. (DMTK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Is DiaMedica Therapeutics (DMAC) Stock Outpacing Its Medical Peers This Year?

https://finance.yahoo.com/news/diamedica-therapeutics-dmac-stock-outpacing-134011761.html

61315adf-3473-3a18-8092-4d37a229818f

DOV

Lighter weight model and wider pressure range optimize cryogenic-storage vesselsDOWNERS GROVE, Ill., Sept. 6, 2023 /PRNewswire/ -- RegO Products, part of OPW Clean Energy Solutions and Dover (NYSE: DOV), announced the launch of its new CBE504 Series Half-Inch Pressure Builder-Economizer Regulator, which enables cryogenic vessels to achieve and maintain proper pressures with minimal risk of product loss.(PRNewsfoto/Dover)The new CBE504 unit is 40% lighter and produces pressure-build speeds that are up to two times faster than competitive models. Combining the pressure-building and economizer functions into one unit saves space and simplifies installation in tight plumbing situations.Notable features and benefits of the CBE504 Series Pressure Builder-Economizer Regulator include:Maximum inlet pressure of 600 psig (41.4 barg) and a set pressure range of 25 to 550 psig (1.7 to 37.9 barg);Cryogenic temperature rating from -320ºF to 150ºF (-196ºC to 65ºC);Designed for use in various cryogenic industrial gases, including nitrogen, oxygen, argon, CO2 and LNG*;Economizer setpoint linked to pressure builder setpoint, which helps ensure correct adjustment;Lateral economizer port with 1.7 times larger flow area than competitive models supports faster response time and reduced product loss;Economizer seal design tied strictly to the PB Outlet function mitigates against pressure runaways, further reducing potential for product loss;Internal economizer-check function reduces potential for product loss by helping prevent reverse flow;Calibrated pressure adjustment on bonnet cap allows for faster, more accurate pressure-set adjustments;One-piece PTFE poppet seat provides better guidance for improved seating, which helps eliminate leak paths at cryogenic temperatures;Monel screens on pressure builder help prevent accumulation of debris in the regulator seat, resulting in longer seat and seal life;Copper gasket provides superior seal under cryogenic temperatures to help prevent leakage;Unit can be mounted vertically or horizontally;PED (SEP) certified and CRN registered (#0C21549.25); and10-year RegO product warranty.Story continuesFor more information on the new CBE504 Series Pressure Builder-Economizer Regulator, please click here. For information on any of RegO's other gas-control products, please visit regoproducts.com.* For optimum performance with CO2 and nitrous oxide, use in gas phase.About RegO Products:Founded in 1888 and headquartered in Elon, NC, USA, RegO Products is a premier manufacturer and worldwide supplier of gas-control products for use in the industrial gas and liquefied cryogenics industries, and in 2021 became a founding member of OPW Clean Energy Solutions. RegO specializes in the development of cryogenic valves, regulators, storage and containment systems, and recently completed development of a nozzle for use in the transfer of LNG. For more information on RegO Products, please visit regoproducts.com. For additional information on OPW, please visit opwglobal.com.About OPW Clean Energy Solutions:OPW Clean Energy Solutions was formed in December 2021 when OPW acquired both Acme Cryogenics and RegO Products. Acme is a leading provider of mission-critical cryogenics products and services that facilitate the production, storage and distribution of cryogenics liquids and gases. RegO is a leading provider of highly engineered flow control solutions for cryogenic and liquified gas end markets. Together, they are taking OPW beyond conventional fueling solutions and helping define what's next for alternative energy markets. For more information on OPW Clean Energy Solutions, please visit https://www.opwglobal.com/opw-clean-energy-solutions.About Dover:Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of over 25,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com.OPW Contact:Lisa Moloney(513) [email protected] Media Contact:Adrian Sakowicz, VP, Communications (630) 743-5039 [email protected] Investor Contact:Jack Dickens, Senior Director, Investor Relations(630) [email protected] original content to download multimedia:https://www.prnewswire.com/news-releases/rego-products-introduces-new-cbe504-series-pressure-builder-economizer-regulator-301919789.htmlSOURCE Dover

PR Newswire

RegO Products Introduces New CBE504 Series Pressure Builder-Economizer Regulator

https://finance.yahoo.com/news/rego-products-introduces-cbe504-series-201500650.html

b9288d1b-a41f-331d-92cb-4fb09c58843b

DOV

On September 7, 2023, Brad Cerepak, Senior Vice President and CFO of Dover Corp (NYSE:DOV), sold 4,631 shares of the company. This move is part of a series of transactions made by the insider over the past year, during which Cerepak has sold a total of 57,372 shares and made no purchases.Warning! GuruFocus has detected 3 Warning Sign with CWAN. Click here to check it out. DOV 30-Year Financial DataThe intrinsic value of DOVBrad Cerepak has been with Dover Corp for several years, serving in various senior leadership roles. His extensive experience in financial management and strategic planning has been instrumental in guiding the company's financial operations and contributing to its overall growth.Dover Corp is a diversified global manufacturer that delivers innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services. The company operates through various segments, including Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover Corp's broad portfolio of products and services serves a wide range of end markets, including industrial, commercial, scientific, and digital printing.The insider's recent sell-off raises questions about the company's current valuation and future prospects. To gain a better understanding of this, we need to look at the company's recent performance, insider trading trends, and its current valuation.Senior Vice President and CFO Brad Cerepak Sells 4,631 Shares of Dover CorpThe insider transaction history for Dover Corp shows no insider buys over the past year, but there have been four insider sells during the same period. This trend suggests that insiders may see the stock as overvalued or expect a slowdown in the company's growth.On the day of the insider's recent sell, Dover Corp's shares were trading at $142, giving the company a market cap of $19.88 billion. The price-earnings ratio stands at 19.68, lower than the industry median of 22.45 but higher than the company's historical median price-earnings ratio.Story continuesSenior Vice President and CFO Brad Cerepak Sells 4,631 Shares of Dover CorpAccording to GuruFocus Value, which is an intrinsic value estimate based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates, Dover Corp is modestly undervalued. With a price of $142 and a GuruFocus Value of $158.73, the stock has a price-to-GF-Value ratio of 0.89.In conclusion, while the insider's recent sell-off may raise concerns, the company's modest undervaluation suggests potential upside for investors. However, the lack of insider buys over the past year and the insider's continuous sell-off should be taken into account when making investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

Senior Vice President and CFO Brad Cerepak Sells 4,631 Shares of Dover Corp

https://finance.yahoo.com/news/senior-vice-president-cfo-brad-050412817.html

c05bd4bb-f0bc-3347-9e83-30010068fd5a

DOW

Dow Inc. (DOW) closed at $54.89 in the latest trading session, marking a +1.29% move from the prior day. This change outpaced the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.Prior to today's trading, shares of the materials science had lost 1.49% over the past month. This has lagged the Basic Materials sector's loss of 1.13% and the S&P 500's gain of 0.58% in that time.Dow Inc. will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2023. In that report, analysts expect Dow Inc. to post earnings of $0.42 per share. This would mark a year-over-year decline of 62.16%. Our most recent consensus estimate is calling for quarterly revenue of $10.34 billion, down 26.73% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.27 per share and revenue of $43.94 billion. These totals would mark changes of -63.68% and -22.78%, respectively, from last year.Investors might also notice recent changes to analyst estimates for Dow Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.84% lower. Dow Inc. is currently sporting a Zacks Rank of #3 (Hold).Story continuesIn terms of valuation, Dow Inc. is currently trading at a Forward P/E ratio of 23.91. This represents a premium compared to its industry's average Forward P/E of 15.71.Meanwhile, DOW's PEG ratio is currently 4.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Chemical - Diversified was holding an average PEG ratio of 2.4 at yesterday's closing price.The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow DOW in the coming trading sessions, be sure to utilize Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDow Inc. (DOW) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Dow Inc. (DOW) Gains As Market Dips: What You Should Know

https://finance.yahoo.com/news/dow-inc-dow-gains-market-221519146.html

31417183-9a61-3afe-8159-84cbe516dd81

DOW

Dow Inc. DOW joined forces with Shanghai Qifan Cable Co., Ltd. to sign a strategic Memorandum of Understanding (MoU) during Wire China 2023. This collaborative effort aims to drive innovation in submarine cable technology to support the growth of offshore wind power, thus expediting the global transition to renewable energy sources.Under this partnership, Dow will supply its Endurance compounds, which will be utilized in the insulation of Qifan Cable's HVAC (High Voltage Alternating Current) and HVDC (High Voltage Direct Current) submarine cables. These Endurance materials are manufactured under stringent cleanliness standards, ensuring high performance and longevity for HVAC submarine cables, which enhances their reliability. Additionally, they offer benefits such as good degassing time and scorch resistance, resulting in increased production efficiency and shorter manufacturing cycles. For HVDC systems, Endurance HFDB-4401UDC enhances long-term performance and allows higher operating temperatures of up to 90°C.According to the International Energy Agency's Electricity Market Report for 2023, the global share of power generation from renewable sources is projected to increase from 29% to 35% by 2025. Offshore wind power is expected to play a crucial role in this growth, serving as a predominant source of clean energy that contributes to a less carbon-intensive and more sustainable global energy landscape.Amid the global shift towards sustainable energy sources, particularly offshore wind power, Dow has introduced a diverse range of high-performance solutions. This strategic partnership with Qifan Cable emphasizes the value of Dow's submarine cable products and marks a significant advancement in its manufacturing capabilities. The commitment to ongoing product innovation, tailored to meet diverse application requirements, is accompanied by an expanding network of collaborations with industry partners, all geared towards supporting global decarbonization goals.Story continuesShares of Dow have gained 7.1% in the past year against a 1.6% rise of the industry.Zacks Investment ResearchImage Source: Zacks Investment ResearchDow remains focused on cost-saving actions and is advancing its longer-term strategic priorities as it faces a challenging macroeconomic environment in the second half of 2023. It is progressing with its actions to deliver $1 billion in cost savings in 2023. Its disciplined and balanced capital allocation priorities support its “Decarbonize and Grow” strategy to create long-term value for its shareholders.Dow Inc. Price and Consensus Dow Inc. Price and ConsensusDow Inc. price-consensus-chart | Dow Inc. Quote Zacks Rank & Key PicksDow currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation CRS, Akzo Nobel N.V. AKZOY and Hawkins, Inc. HWKN, each sporting a Zacks Rank #1 (Strong Buy). 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, indicating a 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 85.7% in the past year.The consensus estimate for Akzo Nobel’s current-year earnings is pegged at $1.44, indicating year-over-year growth of 67.4%. In the past 60 days, AKZOY’s current-year earnings estimate has been revised upward by 2.9%. The company’s shares have rallied 24.9% in the past year.The consensus estimate for Hawkins’ current-year earnings is pegged at $3.40, indicating year-over-year growth of 18.9%. HWKN beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 25.6%. The company’s shares have rallied 63.3% 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 reportDow Inc. (DOW) : Free Stock Analysis ReportCarpenter Technology Corporation (CRS) : Free Stock Analysis ReportAkzo Nobel NV (AKZOY) : Free Stock Analysis ReportHawkins, Inc. (HWKN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Dow (DOW) and Qifan Cable Partner for Offshore Wind Power

https://finance.yahoo.com/news/dow-dow-qifan-cable-partner-155800237.html

461165ba-03b5-30d0-948c-cf7651c809e6

DPZ

ANN ARBOR, Mich., Sept. 7, 2023 /PRNewswire/ -- Domino's Pizza, Inc. (NYSE: DPZ) announces the following event:(PRNewsfoto/Domino's Pizza, Inc.)What:Domino's Third Quarter 2023 Earnings WebcastWhen:Thursday, October 12 at 8:30 a.m. EDTWhere:ir.dominos.comHow:Live webcast (web address above)Contact:Ryan Goers at [email protected] This event will be archived on Domino's website for replay.Results and supplemental material will be distributed at 6:00 a.m. EDT on October 12, 2023, and will be available on our website.About Domino's Pizza®Founded in 1960, Domino's Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout pizza. It ranks among the world's top public restaurant brands with a global enterprise of more than 20,000 stores in over 90 markets. Domino's had global retail sales of over $17.5 billion in 2022, with over $8.7 billion in the U.S. and nearly $8.8 billion internationally. In the second quarter of 2023, Domino's had global retail sales of over $4.2 billion, with nearly $2.1 billion in the U.S. and over $2.1 billion internationally. Its system is comprised of independent franchise owners who accounted for 99% of Domino's stores as of the end of the second quarter of 2023. Emphasis on technology innovation helped Domino's achieve approximately two-thirds of all global retail sales in 2022 from digital channels. In the U.S., Domino's generated more than 80% of U.S. retail sales in 2022 via digital channels and has developed several innovative ordering platforms, including those for Apple CarPlay, Google Home, Amazon Alexa, Facebook Messenger, and more.Order – dominos.com Company Info – biz.dominos.com Media Assets – media.dominos.comPlease visit our Investor Relations website at ir.dominos.com to view news, announcements, earnings releases, investor presentations and conference webcasts.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/dominos-announces-q3-2023-earnings-webcast-301919820.htmlSOURCE Domino's Pizza, Inc.

PR Newswire

Domino's® Announces Q3 2023 Earnings Webcast

https://finance.yahoo.com/news/dominos-announces-q3-2023-earnings-120000155.html

9a8a725d-3859-3351-b7d5-85e211c0404b

DPZ

Domino's Pizza, Inc. (NYSE:DPZ) stock is about to trade ex-dividend in 4 days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. Accordingly, Domino's Pizza investors that purchase the stock on or after the 14th of September will not receive the dividend, which will be paid on the 29th of September.The company's next dividend payment will be US$1.21 per share. Last year, in total, the company distributed US$4.84 to shareholders. Based on the last year's worth of payments, Domino's Pizza has a trailing yield of 1.2% on the current stock price of $387.37. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. So we need to investigate whether Domino's Pizza can afford its dividend, and if the dividend could grow. Check out our latest analysis for Domino's Pizza If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Fortunately Domino's Pizza's payout ratio is modest, at just 35% of profit. A useful secondary check can be to evaluate whether Domino's Pizza generated enough free cash flow to afford its dividend. Fortunately, it paid out only 34% of its free cash flow in the past 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.Click here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. For this reason, we're glad to see Domino's Pizza'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. Fast-growing businesses that are reinvesting heavily are enticing from a dividend perspective, especially since they can often increase the payout ratio later.Story continuesAnother key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. In the last 10 years, Domino's Pizza has lifted its dividend by approximately 20% a year on average. It's great to see earnings per share growing rapidly over several years, and dividends per share growing right along with it.Final TakeawayShould investors buy Domino's Pizza for the upcoming dividend? Domino's Pizza has been growing earnings at a rapid rate, and has a conservatively low payout ratio, implying that it is reinvesting heavily in its business; a sterling combination. There's a lot to like about Domino's Pizza, and we would prioritise taking a closer look at it.On that note, you'll want to research what risks Domino's Pizza is facing. For example, Domino's Pizza has 3 warning signs (and 2 which make us uncomfortable) we think you should know about.If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Be Sure To Check Out Domino's Pizza, Inc. (NYSE:DPZ) Before It Goes Ex-Dividend

https://finance.yahoo.com/news/sure-check-dominos-pizza-inc-121939941.html

dae5f097-829a-307b-bf5a-610a69af6029

DRI

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.Why This 1 Growth Stock Should Be On Your WatchlistFor growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.Darden Restaurants (DRI)Founded in 1968 and based in Orlando, FL, Darden Restaurants is one of the largest casual dining restaurant operators worldwide. The company has operations in the United States and Canada with more than 1,914 restaurants.DRI is a Zacks Rank #2 (Buy) stock, with a Growth Style Score of B and VGM Score of A. Earnings are expected to grow 10.1% year-over-year for the current fiscal year, with sales growth of 10.3%.One analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $8.81 per share for 2024. DRI boasts an average earnings surprise of 3.6%.On a historic basis, Darden Restaurants has generated cash flow growth of 8.3%, and is expected to report cash flow expansion of 3.6% this year.With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, DRI should be on investors' short lists.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 reportDarden Restaurants, Inc. (DRI) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

https://finance.yahoo.com/news/why-1-growth-stock-could-134507422.html

bfca2900-3ca7-3d87-ba28-68c5daba4e80

DRI

Alibaba BABA has deepened its focus on small business enterprises by introducing a suite of advanced business-to-business (B2B) sourcing tools.The new products and features include a smart assistant tool that guides businesses in staying up-to-date on trends, tracking orders and exploring new opportunities, as well as smart enhancements to request for quotation, which enables a seamless connection between business owners and qualified suppliers by supporting predictive sentence completion and image generation.  The new suite includes Alibaba.com’s logistics marketplace, thus delivering better supply chain management by offering 24/7 live customer service, which helps in tracking B2B shipments and timelier product delivery.The company introduced an upgraded image search feature that comes with additional image generation capabilities in order to aid in the streamlining of complex sourcing requirements. The feature allows buyers to search for products by image and text simultaneously.Alibaba unveiled a real-time translation feature for live video chats with suppliers, available in 17 languages.We note that these new products and features are expected to drive BABA’s momentum among small businesses, as they are designed to help entrepreneurs boost sourcing and supply chain operations.Alibaba Group Holding Limited Price and Consensus Alibaba Group Holding Limited Price and ConsensusAlibaba Group Holding Limited price-consensus-chart | Alibaba Group Holding Limited Quote Rationale Behind the MoveThe latest move is expected to strengthen Alibaba’s global B2B business, which, in turn, will likely aid the performance of Alibaba’s International Digital Commerce Group segment.The segment generated RMB 22.1 billion ($3.05 billion) in revenues in first-quarter fiscal 2024. The figure accounted for 9.4% of total revenues and grew 41% from the year-ago fiscal quarter’s reported figure owing to strength in international commerce retail business.The business reported revenues of RMB 17.14 billion ($2.4 billion) in the same quarter, up 60% year over year.Our model estimate for fiscal 2024 Alibaba International Digital Commerce Group revenues are projected at RMB 96.7 billion, indicating growth of 9.3% from fiscal 2023.In international commerce, retail revenues are pegged at RMB 76.2 billion, reflecting growth of 79% year over year.We note that Alibaba’s strengthening international business, expanding global footprints and growing momentum among small businesses will continue to aid its overall financial performance, which, in turn, will likely instill investor optimism in the stock.BABA has gained 2.1% in the year-to-date period.Story continuesZacks Rank & Key PicksCurrently, Alibaba sports a Zacks Rank #1 (Strong Buy).Investors interested in the broader retail-wholesale sector can consider some other top-ranked stocks like BJ’s Restaurants BJRI, Domino’s Pizza DPZ and Darden Restaurants DRI. While BJRI currently sports a Zacks Rank #1, DPZ and DRI each carry a Zacks Rank #2 (buy). You can see the complete list of today’s Zacks #1 Rank stocks here.BJ’s Restaurants has gained 11.9% in the year-to-date period. The long-term earnings growth rate for BJRI is currently estimated at 15%.Domino’s Pizza shares have gained 12.1% in the year-to-date period. DPZ’s long-term earnings growth rate is currently projected at 12.97%.Darden Restaurants has gained 12.2% in the year-to-date period. The long-term earnings growth rate for DRI is currently anticipated at 10.4%.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 reportBJ's Restaurants, Inc. (BJRI) : Free Stock Analysis ReportDomino's Pizza Inc (DPZ) : Free Stock Analysis ReportDarden Restaurants, Inc. (DRI) : Free Stock Analysis ReportAlibaba Group Holding Limited (BABA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Alibaba (BABA) Unveils New B2B Products for Small Businesses

https://finance.yahoo.com/news/alibaba-baba-unveils-b2b-products-161300820.html

73e751d8-6742-3c8d-a5b9-8e8a8e6a2744

DRIO

New agreement expands Dario's reach in the employer market with access to more than 5 million consumersNEW YORK, Aug. 15, 2023 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the global digital health market, announced a new agreement with PlanSource, a leading provider of cloud-based benefits administration and engagement technology, to offer integrated digital health solutions to more than 5 million consumers. DarioHealth Logo Dario's solutions help employers address diabetes, pre-diabetes, hypertension, musculoskeletal and behavioral health needs in their populations with highly personalized solutions designed to optimize digital and human support driven by billions of data insights. The new agreement makes it easy for employers to select and implement Dario's integrated chronic condition management solutions to employee health benefit plans as part of a curated set of benefit solutions in the PlanSource Partner Marketplace.The Partner Marketplace also provides an optimized employee experience to easily engage employees in their health benefits. The integration of Dario's solutions into the PlanSource Marketplace creates a seamless digital pathway for employees to engage in solutions proven to deliver improved, sustainable health outcomes."PlanSource and Dario share the same belief that we need to make it easier for employers to adopt new health benefits, especially as they face tremendous pressures in today's economy. We are excited to become a part of the PlanSource Marketplace as a way to improve access to Dario's solutions for employers and employees alike and make better health outcomes possible for everyone," said Rick Anderson, President of Dario.About DarioHealth Corp.DarioHealth Corp. (Nasdaq: DRIO) is a leading digital health company revolutionizing how people with chronic conditions manage their health through a user-centric, multi-chronic condition digital therapeutics platform. Our platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain and behavioral health.Story continuesOur user-centric platform offers people continuous and customized care for their health, disrupting the traditional episodic approach to healthcare. This approach empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention and results and making the right thing to do the easy thing to do.Dario provides its highly user-rated solutions globally to health plans and other payers, self-insured employers, providers of care and consumers. To learn more about DarioHealth and its digital health solutions, or for more information, visit http://dariohealth.com.Cautionary Note Regarding Forward-Looking StatementsThis news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the agreement with PlanSource and the potential benefits of Dario's solutions. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.DarioHealth Corporate ContactMary MooneyVP [email protected]+1-312-593-4280Media Contact:Scott [email protected]+1-646-942-5630Logo - https://mma.prnewswire.com/media/1920436/DarioHealth_Logo.jpgCisionView original content:https://www.prnewswire.com/news-releases/dario-partners-with-plansource-to-offer-employers-easy-access-to-proven-digital-health-solutions-301900703.htmlSOURCE DarioHealth Corp.

PR Newswire

Dario Partners with PlanSource to Offer Employers Easy Access to Proven Digital Health Solutions

https://finance.yahoo.com/news/dario-partners-plansource-offer-employers-123000714.html

8437940f-114d-3677-aeb3-07ea9dbf33a9

DRIO

New research presented at ADCES23 links engagement in Dario's digital health solutions with improved outcomes NEW YORK, Aug. 24, 2023 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the global digital health market, announced new research presented at the ADCES23 Annual Conference held earlier this month in Houston, Texas. The new research demonstrates Dario's ability to sustainably improve health outcomes for users with diabetes over a two-year period.DarioHealth_LogoDario's digital health solutions combine a clinically intelligent platform with billions of consumer insights to help drive sustainable behavior change to improve the management of chronic conditions and improve health outcomes. The latest research analyzed the data of 119,482 Dario members to understand the relationship between improving engagement and health outcomes.The results showed that during the two years of data analyzed in the research study, users improved engagement 29% over two years. Users with high-risk diabetes demonstrated reductions in their high-blood glucose reading ratios and monthly average glucose that correlated with increased engagement."Dario's solutions are designed to engage members for the purpose of driving healthier behaviors and outcomes. This new research provides evidence that our approach to outcome-based engagement provides a long-term benefit for our members and our partners with sustainable health improvements," said Yifat Hershcovitz, PhD, Vice President of Clinical and Scientific Affairs at Dario."Every facet of our solution is designed with one goal in mind: sustainably improving health outcomes. This new research, like many of our studies, helps extend our understanding – and the market's understanding – of what Dario digital health solutions are doing to achieve that goal and deliver the results our partners have come to expect," said Omar Manejwala, M.D., Chief Medical Officer of Dario.Story continuesAbout DarioHealth Corp.DarioHealth Corp. (Nasdaq: DRIO) is a leading digital health company revolutionizing how people with chronic conditions manage their health through a user-centric, multi-chronic condition digital therapeutics platform. Dario's platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain and behavioral health.Dario's user-centric platform offers people continuous and customized care for their health, disrupting the traditional episodic approach to healthcare. This approach empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention and results and making the right thing to do the easy thing to do.Dario provides its highly user-rated solutions globally to health plans and other payers, self-insured employers, providers of care and consumers. To learn more about Dario and its digital health solutions, or for more information, visit http://dariohealth.com.Cautionary Note Regarding Forward-Looking StatementsThis news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the potential benefits realized by the use of its products, the Company's belief that the improved clinical outcomes are sustainable for two years and the Company's belief that its approach provides a long-term benefit for its members and its partners with sustainable health improvements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.DarioHealth Corporate ContactMary MooneyVP [email protected]+1-312-593-4280Media Contact:Scott [email protected]+1-646-942-5630Logo - https://mma.prnewswire.com/media/1920436/DarioHealth_Logo.jpgCisionView original content:https://www.prnewswire.com/news-releases/dario-publishes-new-research-demonstrating-greater-engagemenet-and-improved-clinical-outcomes-sustainable-for-two-years-301909091.htmlSOURCE DarioHealth Corp.

PR Newswire

Dario Publishes New Research Demonstrating Greater Engagemenet and Improved Clinical Outcomes Sustainable for Two Years

https://finance.yahoo.com/news/dario-publishes-research-demonstrating-greater-123000768.html

b0e1548a-674d-3249-849a-a9be4387fa9e

DRQ

HOUSTON, TX / ACCESSWIRE / August 29, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip"), announced today that Jeffrey Bird, Dril-Quip's President and Chief Executive Officer, will participate in a fireside chat at the Barclays CEO Energy-Power Conference in New York on Thursday, September 7 at 8:00 a.m. EDT. Mr. Bird and Kyle McClure, Dril-Quip's Vice President and Chief Financial Officer, will also host investor meetings throughout the day.A live webcast of the fireside chat and an updated investor presentation will be posted to the Company's investor relations website at https://drilquip.gcs-web.com/ under the "Events & Presentations" tab. Listeners to the live webcast are encouraged to log in 15 minutes early to register. A replay of the webcast will be archived shortly after the call and can be accessed on the Company's website.About Dril-QuipDril-Quip is a developer, manufacturer, and provider of highly engineered equipment, service, and innovative technologies for use in the energy industry.Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the performance and benefits of the Company's products. Forward-looking statements are based upon certain assumptions and analyses made by the Company in light of its experience and other factors. These statements are subject to risks beyond the Company's control, including, but not limited to, operating risks and other factors detailed in the Company's public filings with the Securities and Exchange Commission. Investors are cautioned that any such forward-looking statements are not guarantees of future performance, and actual outcomes may vary materially from those indicated. Investor Relations ContactErin Fazio, Director of Corporate [email protected] Relations ContactSummer Brown, Director of [email protected]: Dril-Quip, Inc.View source version on accesswire.com: https://www.accesswire.com/777780/dril-quip-inc-to-participate-in-the-barclays-ceo-energy-power-conference

ACCESSWIRE

Dril-Quip, Inc. To Participate in the Barclays CEO Energy-Power Conference

https://finance.yahoo.com/news/dril-quip-inc-participate-barclays-110000907.html

b83c15f5-50c9-37f5-b1dd-185ac80c8ec4

DRQ

A month has gone by since the last earnings report for Dril-Quip (DRQ). Shares have added about 0.6% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Dril-Quip due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Dril-Quip Lags Q2 Earnings & Revenues EstimatesDril-Quip reported a second-quarter 2023 adjusted loss of 3 cents per share against the Zacks Consensus Estimate of earnings of 4 cents. The bottom line improved from the year-ago quarter’s loss of 10 cents per share.The company’s registered total quarterly revenues of $89.6 million, which declined from the year-ago quarter’s $94 million.Lower Subsea Product and Subsea Services revenues led to lower-than-expected quarterly results. The negatives were partially offset by the improved performance of the key offshore markets and some reemerging areas.Q2 PerformanceDril-Quip reported net bookings of $72.7 million for the quarter. At the second-quarter end, it had $252 million in the backlog.The company reported a second-quarter operating income of $3.6 million, turning around from a loss of $3.9 million in the prior-year period.Total Costs and ExpensesThe cost of sales declined to $65.7 million in the reported quarter from $69.7 million in the year-ago period. However, engineering and product development costs increased to $3.2 million from the year-ago figure of $2.7 million. Selling, general and administrative costs increased to $23.2 million from $22.5 million a year ago.Total costs and expenses in the quarter were $86 million compared with $97.8 million a year ago.Free Cash FlowIn the second quarter, Dril-Quip generated a free cash flow of $1.1 million against a negative free cash flow of $10.6 million a year ago.Story continuesFinancialsDril-Quip recorded $10.2 million in capital expenditure for the quarter.As of Jun 30, 2023, the company’s cash balance was $236.5 million. Its balance sheet is free of debt load, highlighting a sound financial position.How Have Estimates Been Moving Since Then?Estimates review followed an upward path over the past two 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 reportDril-Quip, Inc. (DRQ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Dril-Quip (DRQ) Up 0.6% Since Last Earnings Report: Can It Continue?

https://finance.yahoo.com/news/dril-quip-drq-0-6-153010251.html

d52049c6-b0ba-3888-8821-258f94ee69f0

DRRX

CUPERTINO, Calif., Aug. 31, 2023 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX), a biopharmaceutical company committed to transforming the treatment of acute organ injury and chronic liver diseases by advancing novel and potentially lifesaving therapies based on its endogenous epigenetic regulator program, will present in the following September 2023 conferences. DURECT Corporation (www.durect.com) is pioneering the development and commercialization of pharmaceutical systems for the treatment of chronic debilitating diseases and enabling biotechnology-based pharmaceutical products. DURECT's goal is to deliver the right drug to the right site in the right amount at the right time. (PRNewsFoto)H.C. Wainwright 25th Annual Global Investment Conference, September 11-13, 2023Location:New York City, NYWebcast Presentation:September 11, 2023, at 10:30 am ETLink:click HERECantor Fitzgerald Annual Global Healthcare Conference, September 26-28, 2023 Location:New York City, NY Panel presentation:September 27, 2023 at 4:45 pm ET Link:click HEREPresentation links will also be available by accessing DURECT's homepage at www.durect.com and clicking on "Events" page under the "Investors" section. Management will be available for one-on-one meetings during these conferences. Please contact conference representatives or DURECT directly. About DURECT CorporationDURECT is a biopharmaceutical company committed to transforming the treatment of acute organ injury and chronic liver diseases by advancing novel and potentially lifesaving therapies based on its endogenous epigenetic regulator program. Larsucosterol, DURECT's lead drug candidate, binds to and inhibits the activity of DNA methyltransferases (DNMTs), epigenetic enzymes which are elevated and associated with hypermethylation found in alcohol-associated hepatitis (AH) patients. Larsucosterol is in clinical development for the potential treatment of AH, for which FDA has granted a Fast Track Designation; non-alcoholic steatohepatitis (NASH) is also being explored. In addition, POSIMIR® (bupivacaine solution) for infiltration use, a non-opioid analgesic utilizing the innovative SABER® platform technology, is FDA-approved and has been exclusively licensed to Innocoll Pharmaceuticals for commercialization in the United States. For more information about DURECT, please visit www.durect.com and follow us on Twitter https://twitter.com/DURECTCorp.Story continuesDURECT Forward-Looking StatementsThis press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, relating to: our plans to report topline data in the fourth quarter of 2023, the potential FDA approval of larsucosterol for the treatment of AH, the ability of a positive outcome in the AHFIRM trial to support a New Drug Application filing, our plans to commercialize larsucosterol if approved, the commercialization of POSIMIR by Innocoll, the potential to develop larsucosterol for AH, NASH or other indications, and the potential benefits, if any, of our product candidates. Actual results may differ materially from those contained in the forward-looking statements contained in this press release, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from those projected include, among other things, the risks that the AHFIRM trial takes longer to complete than anticipated, the risk that ongoing and future clinical trials of larsucosterol do not confirm the results from earlier clinical or pre-clinical trials, or do not demonstrate the safety or efficacy of larsucosterol in a statistically significant manner, the risk that the FDA or other government agencies may require additional clinical trials for larsucosterol before approving it for the treatment of AH even if the results of the AHFIRM trial are successful, risks that Innocoll may not commercialize POSIMIR successfully, and risks related to the sufficiency of our cash resources, our anticipated capital requirements and capital expenditures, our need or desire for additional financing, our ability to obtain capital to fund our operations and expenses and our ability to continue to operate as a going concern. Further information regarding these and other risks is included in DURECT's most recent Securities and Exchange Commission (SEC) filings, including its annual report on Form 10-K for the year ended December 31, 2022 and quarterly report on Form 10-Q for the quarter ended June 30, 2023 when filed under the heading "Risk Factors." These reports are available on our website www.durect.com under the "Investors" tab and on the SEC's website at www.sec.gov. All information provided in this press release and in the attachments is based on information available to DURECT as of the date hereof, and DURECT assumes no obligation to update this information as a result of future events or developments, except as required by law.NOTE: POSIMIR® is a trademark of Innocoll Pharmaceuticals, Ltd. in the U.S. and a trademark of DURECT Corporation outside of the U.S. SABER® is a trademark of DURECT Corporation. Other referenced trademarks belong to their respective owners. Larsucosterol (DUR-928) is an investigational drug candidate under development and has not been approved for commercialization by the U.S. Food and Drug Administration or other health authorities for any indication.  CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/durect-corporation-announces-presentations-in-upcoming-investor-conferences-301915291.htmlSOURCE DURECT Corporation

PR Newswire

DURECT Corporation Announces Presentations in Upcoming Investor Conferences

https://finance.yahoo.com/news/durect-corporation-announces-presentations-upcoming-203000218.html

c01b145c-850b-3db5-8b3d-a3ad52a8ab69

DRRX

Company on track to report topline data from AHFIRM in Q4 2023CUPERTINO, Calif., Sept. 7, 2023 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX), a late-stage biopharmaceutical company pioneering the development of epigenetic therapies to transform the treatment of serious and life-threatening conditions, including acute organ injury and cancer, today announced that the last patient has completed the study protocol in the Company's AHFIRM trial.  AHFIRM is a Phase 2b randomized, double-blind, placebo-controlled trial evaluating the safety and efficacy of lasucosterol in subjects with severe alcohol-associated hepatitis (AH). A total of 301 patients were randomized and dosed in AHFIRM and DURECT plans to report topline data in the fourth quarter of 2023.DURECT Corporation (www.durect.com) is pioneering the development and commercialization of pharmaceutical systems for the treatment of chronic debilitating diseases and enabling biotechnology-based pharmaceutical products. DURECT's goal is to deliver the right drug to the right site in the right amount at the right time. (PRNewsFoto)"We are pleased to have completed follow-up of all patients in our Phase 2b AHFIRM trial, bringing us one step closer to reporting topline data from the study which we anticipate in the fourth quarter of 2023," stated James E. Brown, D.V.M., President and CEO of DURECT. "Assuming a positive outcome from AHFIRM, we plan to review the results with the U.S. Food and Drug Administration (FDA) in the first quarter of 2024.  We designed AHFIRM to be a potentially pivotal trial and hope to expedite regulatory discussions through the Fast Track Designation that the FDA previously granted. If approved, larsucosterol would be the first FDA-approved treatment for alcohol-associated hepatitis (AH) and would represent a paradigm shift in the management of this life-threatening disease."About the AHFIRM TrialEnrollment was completed in June 2023 in our Phase 2b randomized, double-blind, placebo-controlled, international, multi-center study in subjects with severe acute alcohol-associated hepatitis (AH) to evaluate saFety and effIcacy of laRsucosterol treatMent (AHFIRM). The study is comprised of three arms, and 301 total patients were randomized and dosed, with approximately 100 patients in each arm: (1) Placebo plus supportive care, with or without methylprednisolone capsules at the investigators' discretion; (2) larsucosterol (30 mg); and (3) larsucosterol (90 mg). Patients in the larsucosterol arms receive the same supportive care without steroids.  In order to maintain blinding, patients in the two active arms receive matching placebo capsules if the investigator prescribes steroids. The primary outcome measure will be the 90-Day incidence of mortality or liver transplantation for patients treated with larsucosterol compared to those treated with placebo. The Company has enrolled patients at clinical trial sites across the U.S., EU, U.K., and Australia. Reflecting the life-threatening nature of AH and the lack of therapeutic options, the U.S. Food and Drug Administration (FDA) has granted larsucosterol Fast Track Designation for the treatment of AH. We believe a positive outcome in the AHFIRM trial could support a New Drug Application filing. For more information, refer to ClinicalTrials.gov Identifier: NCT04563026.Story continuesAbout Alcohol-associated Hepatitis (AH)AH is an acute form of alcohol-associated liver disease (ALD), associated with long-term heavy intake of alcohol and often occurs after a recent period of increased alcohol consumption (i.e., a binge). AH is typically characterized by severe inflammation and destruction of liver tissue (i.e., necrosis), potentially leading to life-threatening complications including liver failure, acute kidney injury and multi-organ failure. There are no FDA approved therapies for AH and a retrospective analysis of 77 studies published between 1971 and 2016, which included data from a total of 8,184 patients, showed the overall mortality from AH was 26% at 28 days, 29% at 90 days and 44% at 180 days. A subsequent global study published in December 2021, which included 85 tertiary centers in 11 countries across 3 continents, prospectively enrolled 2,581 AH patients with a median Model of End-Stage Liver Disease (MELD) score of 23.5, reported mortality at 28 and 90 days of approximately 20% and 31%, respectively. Stopping alcohol consumption is necessary, but frequently not sufficient for recovery in many moderate (defined as MELD scores of 11-20) and severe (defined as MELD scores >20) patients and therapies that reduce liver inflammation, such as corticosteroids, are limited by contraindications, have not been shown to improve survival at 90 days or one year, and have demonstrated an increased risk of infection. While liver transplantation is becoming more common for ALD patients, including AH patients, the total number of such transplants is still relatively small.  Average charges for a liver transplant exceed $875,000, and patients require lifelong immunosuppressive therapy to prevent organ rejection.About LarsucosterolLarsucosterol is an endogenous sulfated oxysterol and an epigenetic modulator. Epigenetic regulators are compounds that regulate patterns of gene expression without modifying the DNA sequence. DNA hypermethylation, an example of epigenetic dysregulation, results in transcriptomic reprogramming and cellular dysfunction, and has been found to be associated with many acute (e.g., AH) or chronic diseases (e.g., NASH). As an inhibitor of DNA methyltransferases (DNMT1, DNMT3a and 3b), larsucosterol inhibits DNA methylation, which subsequently modulates expression of genes that are involved in cell signaling pathways associated with stress responses, cell death and survival, and lipid biosynthesis. This may ultimately lead to improved cell survival, reduced inflammation, and decreased lipotoxicity. As an epigenetic modulator, the proposed mechanism of action provides further scientific rationale for developing larsucosterol for the treatment of acute organ injury and certain chronic diseases.About DURECT CorporationDURECT is a biopharmaceutical company committed to transforming the treatment of acute organ injury and chronic liver diseases by advancing novel and potentially lifesaving therapies based on its endogenous epigenetic regulator program. Larsucosterol, DURECT's lead drug candidate, binds to and inhibits the activity of DNA methyltransferases (DNMTs), epigenetic enzymes that are elevated and associated with hypermethylation found in alcohol-associated hepatitis (AH) patients. Larsucosterol is in clinical development for the potential treatment of AH, for which FDA has granted a Fast Track Designation; non-alcoholic steatohepatitis (NASH) is also being explored. In addition, POSIMIR® (bupivacaine solution) for infiltration use, a non-opioid analgesic utilizing the innovative SABER® platform technology, is FDA-approved and has been exclusively licensed to Innocoll Pharmaceuticals for commercialization in the United States. For more information about DURECT, please visit www.durect.com and follow us on Twitter https://twitter.com/DURECTCorp.DURECT Forward-Looking Statements This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, relating to: our plans to report topline data in the fourth quarter of 2023, our plans to meet with the FDA to review the results of AHFIRM trial in the first quarter of 2024, the potential FDA approval of larsucosterol for the treatment of AH, the ability of a positive outcome in the AHFIRM trial to support a New Drug Application filing, our plans to commercialize larsucosterol if approved, the commercialization of POSIMIR by Innocoll, the potential to develop larsucosterol for AH, NASH or other indications, and the potential benefits, if any, of our product candidates. Actual results may differ materially from those contained in the forward-looking statements contained in this press release, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from those projected include, among other things, the risks that the AHFIRM trial takes longer to complete than anticipated, the risk that ongoing and future clinical trials of larsucosterol do not confirm the results from earlier clinical or pre-clinical trials, or do not demonstrate the safety or efficacy of larsucosterol in a statistically significant manner, the risk that the FDA or other government agencies may require additional clinical trials for larsucosterol before approving it for the treatment of AH even if the results of the AHFIRM trial are successful, risks that Innocoll may not commercialize POSIMIR successfully, and risks related to the sufficiency of our cash resources, our anticipated capital requirements and capital expenditures, our need or desire for additional financing, our ability to obtain capital to fund our operations and expenses and our ability to continue to operate as a going concern. Further information regarding these and other risks is included in DURECT's most recent Securities and Exchange Commission (SEC) filings, including its annual report on Form 10-K for the year ended December 31, 2022 and quarterly report on Form 10-Q for the quarter ended June 30, 2023 under the heading "Risk Factors."  These reports are available on our website www.durect.comunder the "Investors" tab and on the SEC's website at www.sec.gov. All information provided in this press release and in the attachments is based on information available to DURECT as of the date hereof, and DURECT assumes no obligation to update this information as a result of future events or developments, except as required by law.NOTE: POSIMIR® is a trademark of Innocoll Pharmaceuticals, Ltd. in the U.S. and a trademark of DURECT Corporation outside of the U.S. SABER® is a trademark of DURECT Corporation. Other referenced trademarks belong to their respective owners. Larsucosterol is an investigational drug candidate under development and has not been approved for commercialization by the U.S. Food and Drug Administration or other health authorities for any indication.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/durect-corporation-announces-last-patient-last-visit-in-phase-2b-ahfirm-trial-of-larsucosterol-in-alcohol-associated-hepatitis-301920265.htmlSOURCE DURECT Corporation

PR Newswire

DURECT Corporation Announces Last Patient Last Visit in Phase 2b AHFIRM Trial of Larsucosterol in Alcohol-Associated Hepatitis

https://finance.yahoo.com/news/durect-corporation-announces-last-patient-110000364.html

3c2cc45e-e9cb-3b8d-8cde-375e44993188

DRUG

Bright Minds Biosciences-- BMB-101 is a highly selective and potent 5-HT2C agonist being developed for the treatment of refractory epilepsies and other indications, such as psychosis, addiction, and impulse control disorders-- BMB-101 demonstrated an excellent safety and tolerability profile in single ascending dose, multiple ascending dose and food effects study-- BMB-101 demonstrated central target engagement and predictable plasma pharmacokineticsVANCOUVER, British Columbia, July 20, 2023 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”), a biotechnology company focused on developing novel drugs for the targeted treatment of neuropsychiatric disorders and refractory epilepsy, today announced the successful completion of its three-part Phase 1 study of BMB-101. The study, conducted in Adelaide, Australia, by CMAX Clinical Research, a clinical trial center specializing in a range of early-phase trials and first-in-human studies, evaluated the safety, tolerability, pharmacokinetic (PK), and food effect in healthy volunteers.BMB-101 is a highly selective and potent 5-HT2C agonist being developed for the treatment of refractory epilepsies and other indications, such as psychosis, addiction, and impulse control disorders. BMB-101 demonstrated an excellent safety and tolerability profile. 5-HT2C target engagement was demonstrated by transient, dose-dependent increases in prolactin. BMB-101 exhibited predictable plasma pharmacokinetics with relatively small inter-individual variability. The current formulation allows for twice-a-day oral dosing, and with further formulation development, there may be potential for once-a-day dosing. Based on these observations, the Company believes that moderate doses of BMB-101 will fully engage 5-HT2C receptors, and therefore not be dose-limited by side effects, which will help to achieve maximal efficacy in future Phase 2 studies. Dose limited side effects exhibited by first generation 5-HT2C agonists have prevented exploiting the full potential of this pharmacological mechanism.Story continues“We are highly encouraged by the Phase 1 study observations and results, which give us confidence in selecting doses of BMB-101 for testing in refractory epilepsies and other disorders where serotonin 2C agonists are indicated. Learnings from the study will inform our path forward as we seek to develop effective therapeutic options with convenient dosing regimens for patients,” stated Mark A. Smith, M.D., Ph.D., Chief Medical Officer of Bright Minds.“There is a great opportunity and an unmet need to develop improved treatments for these and potentially numerous other indications, including psychosis and addiction disorders. The successful and on-time completion of the study is an important achievement for us, as we continue to evolve from a drug discovery to a drug development stage company. BMB-101 is now a Phase 2 ready asset, and we look forward to sharing our further progress,” stated Ian McDonald, CEO of Bright Minds.The Company is currently awaiting the qEEG (Quantitative Electroencephalogram) data and will provide a more detailed discussion of the Phase 1 results when available.About the Phase 1 StudyPart 1 – Single Ascending Dose4 cohorts (6 drug and 2 placebo) – single dose (oral solution)Reached the planned top dose of 180 mg/70 kg, which approached preclinical exposure limitsWell tolerated with predictable PKMost common adverse event was oral paresthesias from liquid formulationPart 2 – Food Effect12 subjects – crossover with and without breakfast, 120 mg/70kgEffect of food on BMB-101 levels was relatively small, and therefore BMB-101 can be administered without the need for fastingPart 3 – Multiple Ascending Dose4 cohorts (6 drug and 2 placebo) – twice a day dosing for seven days after mealsReached a top dose of 150 mg/70 kg twice a dayBiomarkers for central target engagement: Prolactin release and qEEGGood Manufacturing Practices (GMP) production completed for BMB-101 drug substance and drug product.About BMB-101BMB-101, a highly selective 5-HT2C, Gq-protein biased agonist, has demonstrated compelling activity in a host of in vitro and in vivo nonclinical tests. Compared to Lorcaserin, BMB-101 exhibits strong Gq biased signaling, coupled with minimal beta-arrestin recruitment. Bright Minds believes that G-protein biased signaling translates to better tolerance profile for this second-generation 5-HT2C agonist, making BMB-101 a best-in-class 5-HT2C agonist. Mechanistically, Serotonin (5-Hydroxytryptamine, 5-HT) is a monoamine neurotransmitter widely expressed in the central nervous system, and drugs modulating 5-HT have made a major impact in mental health disorders. Central 5-HT systems have long been associated with the control of ingestive behaviors and the modulation of the behavioral effects of psychostimulants, opioids, alcohol, and nicotine. Results of clinical trials and animal studies indicate that 5-HT2C receptor agonists may have therapeutic potential in the treatment of addiction by decreasing the intake of opioids as well as impulsive behavior that can escalate compulsive drug use. BMB-101 is a new chemical entity (NCE) and constitutes as a novel scaffold 5-HT2C agonist.5-HT2C agonism is a well proven anticonvulsant mechanism. In translational animal models, BMB-101 demonstrated a significant reduction in both the number and intensity of epileptic seizures and is a promising candidate for the treatment of Dravet Syndrome and other epilepsies. The Phase 1 trial (NCT 05397041) has been completed and BMB-101 is now Phase 2 ready.About Bright MindsBright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain. Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as resistant epilepsy, treatment resistant depression, PTSD, and pain. The Company leverages its world-class scientific and drug development expertise to bring forward the next generation of safe and efficacious drugs. Bright Minds’ drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as psilocybin.Investor Contacts:Lisa WilsonE: [email protected]: 917-543-9932Ian McDonaldCEO and DirectorE: [email protected]: 917-543-9932This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” and similar expressions, or that events or conditions “will,” “would,” “may,” “could,” or “should” occur. Forward-looking information in this news release includes statements related to plans for future formulation development including to achievement of once-a-day dosing in respect of BMB-101, the implementation of Phase 2 trials, and the Company completing its strategic transition from drug discovery to drug development. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include continued availability of capital and financing, results of Phase 2 clinical trials with respect to BMB-101 and other compounds that the Company may seek to test in the future, results of further development activities related to dosing and the findings specifically related to once-a-day dosing, regulatory conditions with respect to in-human drug trials, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

GlobeNewswire

Bright Minds Biosciences Announces Positive Topline Data for its First-in-Human Phase 1 Study of Lead Compound, BMB-101

https://finance.yahoo.com/news/bright-minds-biosciences-announces-positive-105000747.html

2e3813ca-e237-3305-9192-61a660caecdd

DRUG

Bright Minds Biosciences-- BMB-101 is a highly selective and potent 5-HT2C agonist being developed for the treatment of refractory epilepsies and other indications, such as psychosis, addiction, and impulse control disorders-- qEEG study was conducted in healthy individuals in Cohort 4 of the Multiple Ascending Dose arm of the study-- Proof of Mechanism and target engagement in the brain was established using blood biomarkers and qEEG-- In qEEG, BMB-101 demonstrated robust increase in central delta power and robust reduction in central alpha and beta power in active group, as previously reported for Anti-Epileptic Drugs (AEDs) in healthy individuals-- Company to host webcast to discuss findings of the Phase 1 study today, August 8, 2023, at 4:30pm ETVANCOUVER, British Columbia, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”), a biotechnology company focused on developing novel drugs for the targeted treatment of neuropsychiatric disorders and refractory epilepsy, today announced positive results of the qEEG (Quantitative Electroencephalogram) data in Cohort 4 of its first-in-human Phase 1 study of its lead compound, BMB-101. On July 20, 2023, the Company announced completion of the study, along with positive topline data that demonstrated BMB-101's excellent safety and tolerability profile in the single ascending dose, multiple ascending dose and food effects parts of the study. BMB-101 also demonstrated central target engagement and predictable plasma pharmacokinetics.In the qEEG study, BMB-101 demonstrated:Central target engagement, as the treatment group was easily identified in blinded data using qEEG power signature. A robust increase in central delta power and robust reduction in central alpha and beta power in active group, as previously reported for Anti-Epileptic Drugs (AEDs) in healthy individuals. Increased gamma frontal parietal connectivity in treatment group. This constitutes an improved AED principle over benzodiazepine (GABA receptor) AED drugs.Power and connectivity changes were concentration dependent.Story continues“The positive topline findings from our recently completed Phase 1 study of BMB-101, together with the observations from the qEEG portion of the study, validate our approach, as we continue to evaluate this important product candidate. BMB-101 is clearly [getting into the brain/achieving brain penetration] and activating the target receptors as we had predicted, setting us up for potential success in a number of indications that have been validated with the 5-HT2C mechanism. With this study complete, BMB-101 is now a Phase 2 ready asset, and we intend to move forward with an investigative new drug submission immediately,” stated Ian McDonald, CEO of Bright Minds.“We are especially pleased that BMB-101 has demonstrated central target engagement by transient prolactin increase, and qEEG changes. The treatment group was readily identified in blinded data using the qEEG power signature. In addition, increased frontal gamma power represents an improved AED principle over [existing] benzodiazepine (GABA receptor) AED drugs. We believe that BMB-101 has the potential to be a best-in-class, novel pharmacophore 5-HT2C agonist for the treatment of seizure disorders, and our team is committed to advancing this product candidate for application where serotonin 2C agonists would be useful,” said Jan Torleif Pedersen, PhD, MSc, Chief Science Officer of Bright Minds.During the EEG recording, subjects were seated with a U.S. Food and Drug Administration (FDA)- approved 19 electrode EEG headset provided by Zeto™ Inc. Channels were sampled at 250 or 500 Hz and referenced to A1/A2 channels (linked-ears reference) during recording. The EEG recording time was 10 minutes (~5 minutes resting with eyes closed and ~5 minutes resting with eyes open). There were four EEG recording timepoints: day 1 pre-dose (immediately before dosing) and post-dose (1h after dosing), and day 7 pre-dose and post-dose. Data were analyzed using the FireFly Neuroscience advanced EEG analysis platform.BMB-101 is a highly selective and potent 5-HT2C agonist being developed for the treatment of refractory epilepsies and other indications, such as psychosis, addiction, and impulse control disorders. BMB-101 demonstrated an excellent safety and tolerability profile. 5-HT2C target engagement was demonstrated by transient, dose-dependent increases in prolactin. BMB-101 exhibited predictable plasma pharmacokinetics with relatively small inter-individual variability. The current formulation allows for twice-a-day oral dosing, and with further formulation development, there may be potential for once-a-day dosing. Based on these observations, the Company believes that moderate doses of BMB-101 will fully engage 5-HT2C receptors, and therefore not be dose-limited by side effects, which will help to achieve maximal efficacy in future Phase 2 studies. Dose limited side effects exhibited by first generation 5-HT2C agonists have prevented exploiting the full potential of this pharmacological mechanism.The Phase 1 study was conducted in Adelaide, Australia, by CMAX Clinical Research, a clinical trial center specializing in a range of early-phase trials and first-in-human studies. The study evaluated the safety, tolerability, pharmacokinetic (PK), and food effect of BMB-101 in healthy volunteers.About the Phase 1 StudyPart 1 – Single Ascending Dose4 cohorts (6 drug and 2 placebo) – single dose (oral solution)Reached the planned top dose of 180 mg/70 kg, which approached preclinical exposure limitsWell tolerated with predictable PKMost common adverse event was oral paresthesias from liquid formulationPart 2 – Food Effect12 subjects – crossover with and without breakfast, 120 mg/70kgEffect of food on BMB-101 levels was relatively small, and therefore BMB-101 can be administered without the need for fastingPart 3 – Multiple Ascending Dose4 cohorts (6 drug and 2 placebo) – twice a day dosing for seven days after mealsReached a top dose of 150 mg/70 kg twice a dayBiomarkers for central target engagement: Prolactin release and qEEGGood Manufacturing Practices (GMP) production completed for BMB-101 drug substance and drug product.Webcast InformationBright Minds management will host a webcast to discuss the Phase 1 study as follows:Date: Tuesday, August 8, 2023Time: 4:30pm ETWebcast link: Click hereAbout BMB-101BMB-101, a highly selective 5-HT2C, Gq-protein biased agonist, has demonstrated compelling activity in a host of in vitro and in vivo nonclinical tests. Compared to Lorcaserin, BMB-101 exhibits strong Gq biased signaling, coupled with minimal beta-arrestin recruitment. Bright Minds believes that G-protein biased signaling translates to better tolerance profile for this second-generation 5-HT2C agonist, making BMB-101 a best-in-class 5-HT2C agonist. Mechanistically, Serotonin (5-Hydroxytryptamine, 5-HT) is a monoamine neurotransmitter widely expressed in the central nervous system, and drugs modulating 5-HT have made a major impact in mental health disorders. Central 5-HT systems have long been associated with the control of ingestive behaviors and the modulation of the behavioral effects of psychostimulants, opioids, alcohol, and nicotine. Results of clinical trials and animal studies indicate that 5-HT2C receptor agonists may have therapeutic potential in the treatment of addiction by decreasing the intake of opioids as well as impulsive behavior that can escalate compulsive drug use. BMB-101 is a new chemical entity (NCE) and constitutes a novel scaffold 5-HT2C agonist.5-HT2C agonism is a well proven anticonvulsant mechanism. In translational animal models, BMB-101 demonstrated a significant reduction in both the number and intensity of epileptic seizures and is a promising candidate for the treatment of Dravet Syndrome and other epilepsies. The Phase 1 trial (NCT 05397041) has been completed and BMB-101 is now Phase 2 ready.About Bright MindsBright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain. Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as treatment resistant epilepsy, treatment resistant depression, PTSD, and pain. The Company leverages its world-class scientific and drug development expertise to bring forward the next generation of safe and efficacious drugs. Bright Minds’ drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as fenfluramine, psilocybin, LSD, and ibogaine.Investor Contacts:Lisa WilsonE: [email protected]: 917-543-9932Ian McDonaldCEO and DirectorE: [email protected]: 917-543-9932This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” and similar expressions, or that events or conditions “will,” “would,” “may,” “could,” or “should” occur. Forward-looking information in this news release includes statements related to potential future success in indications that have been validated with the 5-HT2C mechanism, the implementation of Phase 2 trials for BMB-101 and the submission of applications related to the same, BMB-101 becoming a best-in-class, novel pharmacophore 5-HT2C agonist for the treatment of seizure disorders, and plans for future formulation development including to achievement of once-a-day dosing in respect of BMB-101. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include continued availability of capital and financing, results of Phase 2 clinical trials with respect to BMB-101 and other compounds that the Company may seek to test in the future, results of further development activities related to dosing and the findings specifically related to once-a-day dosing, regulatory conditions with respect to in-human drug trials, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

GlobeNewswire

Bright Minds Biosciences Announces Positive qEEG (Quantitative Electroencephalogram) Data from its First-in-Human Phase 1 Study of Lead Compound, BMB-101

https://finance.yahoo.com/news/bright-minds-biosciences-announces-positive-105000040.html

e3930078-abf1-3339-afe5-fa6bf032a079

DSGX

Descartes noted some headwinds around the upcoming peak season on a Wednesday call with analysts. (Photo: Jim Allen/FreightWaves)Management from supply chain software-as-a-service provider Descartes noted several headwinds in the market currently but said it was confident the company will continue to perform.Descartes (NASDAQ: DSGX) reported earnings per share of 32 cents for the 2024 fiscal second quarter, ended July 31, after the market closed Wednesday. The result was a penny light of the consensus estimate but a nickel higher year over year (y/y).CEO Ed Ryan said softer consumer demand and elevated retail inventories may weigh on fall replenishment cycles. Currently, shipment volumes are tepid, largely tracking pre-pandemic trends, and reduced volumes through the Panama Canal could impact freight flows in the near term.“We’ll see what happens but we like our chances either way,” Ryan said.Table: Descartes’ key performance indicatorsThe Canada-based company reported record revenue of $143 million, which was 17% higher y/y and exceeded management’s guidance of $120.5 million. Adjusted earnings before interest, taxes, depreciation and amortization totaled $61 million, which was 12% higher y/y and within management’s long-term annual guidance range of 10% to 15% growth. The company previously guided to $44.5 million in adjusted EBITDA for the quarter.Cloud-based acquisitions fueled the growth.Descartes acquired final-mile solutions provider GroundCloud in February, and in May it added Localz, an order management service.The company guided fiscal third-quarter revenue of approximately $124 million with adjusted EBITDA of $46 million.Descartes generated $52 million in operating cash flow during the quarter, ending the period with $227 million in cash and no debt. The company’s cash position increased $38 million from the year-ago period.More FreightWaves articles by Todd MaidenForward Air says ‘earned trust’ a must after Omni acquisitionXPO holds volume gains in AugustAugust transportation prices decline at slowest pace in a yearThis content is not available due to your privacy preferences.Update your settings here to see it.The post Descartes posts record results at bottom of freight cycle appeared first on FreightWaves.

FreightWaves

Descartes posts record results at bottom of freight cycle

https://finance.yahoo.com/news/descartes-posts-record-results-bottom-231429519.html

20423a5f-eaea-33a5-8877-cadcf17893e1

DSGX

The Descartes Systems Group Inc. (NASDAQ:DSGX) Q2 2024 Earnings Call Transcript September 7, 2023Operator: Good afternoon, ladies and gentlemen, and welcome to The Descartes Systems Group Quarterly Results Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]. This call is being recorded on Wednesday, September 6, 2023. I would now like to turn the conference over to Scott Pagan. Please go ahead.Scott Pagan: Thanks and good afternoon, everyone. Joining me on the call today are Ed Ryan, CEO; and Allan Brett, CFO. I trust that everyone has received a copy of our financial results press release that was issued earlier today. Portions of today's call, other than historical performance, include statements of forward-looking information within the meaning of applicable securities laws. These statements are made under the Safe Harbor provisions of those laws. These forward-looking statements include statements related to our assessment of the current and future impact of geopolitical and economic uncertainty on our business and financial condition; Descartes' operating performance, financial results and condition; Descartes' gross margins and any growth in those gross margins; cash flow and use of cash; business outlook; baseline revenues, baseline operating expenses and baseline calibration; anticipated and potential revenue losses and gains; anticipated recognition and expensing of specific revenues and expenses; potential acquisitions and acquisition strategy; cost reduction and integration initiatives; and other matters that may constitute forward-looking statements.These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Descartes to differ materially from the anticipated results, performance or achievements implied by such forward-looking statements. These factors are outlined in the press release and in the section entitled certain factors that may affect future results in documents filed and furnished with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada, including our management's discussion and analysis filed today. We provide forward-looking statements solely for the purpose of providing information about management's current expectations and plans relating to the future.Story continuesYou're cautioned that such information may not be appropriate for other purposes. We don't undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions, assumptions or circumstances on which any such statement is based, except as required by law. And with that, let me turn the call over to Ed.Ed Ryan: Thanks, Scott, and welcome everyone to the call. We had an excellent first half of the year with record financial results this past quarter. We're excited to go over those with you and give you some perspective about the business environment we see right now. But first, let me give you a roadmap for this call. I'll start by hitting some highlights of last quarter and some aspects of how our business performed. I'll then hand it over to Allan who will go over the Q2 financial results in more detail. I'll then come back and provide an update on how we see the current business environment and how our business is calibrated as we enter Q3. And then we'll open it up to the operator to coordinate the Q&A portion of the call.So let's get started by looking at the quarter that just ended July 31. Key metrics we monitor include revenues, profits, cash flow from operations and returns on our investments. For this past quarter, we again had record performance in each of those areas. Total revenues were up 17% from a year ago with service revenues up almost 20%. Net income and EPS were up 23% and 19%, respectively. Income from operations was up 17% while adjusted EBITDA was up 12%. And we generated $52 million in cash from operations representing 86% of adjusted EBITDA. At the end of the quarter, we had $227 million in cash and we were debt free with an undrawn $350 million line of credit. We remain well capitalized, cash generating, debt free and ready to continue to invest in our business.We believe a company like ours is well positioned to continue to thrive in market conditions like these, because we've got good organic growth plus the experience and capital capacity to execute on acquisitions. We had a good quarter of organic growth in our core services revenues, so I want to highlight some of the drivers of that. The first is just real-time visibility. Just a refresher on this, a large part of shipping is people moving goods on other people's assets, whether they be planes, trucks, rail or boats. There may also be intermediaries involved in arranging the shipments or making required filings, including freight brokers, third party logistics providers and customs brokers. With all those assets, modes of transportation, data sources, locations and parties involved, it can be challenging to know where a shipment is and knowing the location of a shipment and when that's going to arrive is critical to serving your customer and running your business.Our visibility in transportation management solutions, which include MacroPoint, are increasingly important for our customers in this area. These solutions contributed to solid growth in the quarter for reasons including first, our solutions are better at tracking loads, customers pay based on the number of loads that are tracked by our solutions. So we're aligned with our customers on doing what we can to connect as many carriers and intermediaries as possible to get location information on loads. We've launched new carrier self-connect tools that have helped our customers get even more location coverage across their network of carriers. We've also made investments in customer success personnel to help maximize the number of loads with full visibility.The outcome has been a greater percentage of loads tracked, better data, happier customers and strong growth. Second issue is we're winning more deals and seeing strong demand for visibility. The real-time visibility market is not without competitors. However, we're having good success at securing new customers and welcoming back some old ones, because our commitment to tracking the success. We have a broader network that's across more modes of transportation than our competitors and that's being recognized by customers as they choose the visibility solution for the future. Our customers often take comfort in our reliability, and that we're operating a business they know will be around to serve them for the long term. The third issue is visibility is embedded in more Descartes solutions.Some customers come to us just for visibility, but others are using Descartes solutions and are looking to have visibility as an add-on to what they're already doing. Each time we expand our solution set including by way of acquisition, we look for how we can embed visibility into the new solutions to provide an easier mechanism for our customers to track their loads. We believe that our best source of business is often our existing expansive and supportive customer base. So we're making dedicated efforts to make visibility easier for those customers. Second big issue is routing, scheduling and mobile solutions and this contributed to our revenue success this quarter. These solutions are principally for when you're managing your own fleet of vehicles rather than hiring space on other people's vehicles.We believe we're the most experienced company in this market and have the premier routing and scheduling solutions to offer. Our customers in this area have faced recent challenges including rising labor costs, challenges in security data, rising fuel prices, and customer demands for accurate delivery windows. This is contributing to strong demand with new customer projects and existing customers retuning their solutions. We've also been innovative in this market, which has contributed to our market leadership. We've recently launched a new generation route planning solution that has been rolled out with customers. And we've made investments in our solutions through acquisitions with safety solutions from GroundCloud and final mile delivery tracking from Localz, all factors that contributed to good growth in this area.The third area is global trade intelligence. Once again, we saw good growth in the global trade intelligence solutions in our business. Those solutions generally fall into three buckets. The first bucket is competitive intelligence. Our data mine solutions provide information on trade flows, historical classification of goods, and other logistics and supply chain intelligence. This information can be used to help make decisions about your own supply chain, but also to see how competitive you are with other companies supply chains. Recent attention on efficiency of supply chains has helped drive demand in this area. In addition, our data is front and center in many leading business publications as a source for data about logistics and supply chains, which has also been a good demand driver for us.The second bucket is tariff and duty data to make intelligent shipping decisions. We provide up-to-date data about tariff and duty rates and rules around the world, which can be used by leading global trade management systems to help run international supply chains. We've seen an increased level of changes in tariffs and duties principally as a consequence of geopolitical tensions and trade disputes. This has changed the design of many supply chains and has increased the importance of having accurate and timely information like ours. The third bucket is compliance. These solutions help our customers make sure they're not shipping things to people they shouldn't be. This may be to specific people, to specific countries, to specific geographies, or in some cases specific goods being shipped.These restrictions have expanded and increased in complexity, as the geopolitical tensions have increased, and trade disputes have emerged. In addition, governments in the larger economies, like the United States, have increased the resources dedicated to ensuring compliance and have levied substantial financial penalties on firms not taking compliance seriously. We've continued to see good demand for these compliance solutions as a result. The next area is e-commerce. This continues to be a growing market and part of our business. We've made investments into these solutions with additional leadership and also by way of acquisition with our purchase of XPS within the past year. The parcel market has seen some recent challenges with labor challenges at UPS, changing service preferences at the U.S. Postal Service and FedEx restructuring.However, our share in the market continues to increase as we work with partners to find the most efficient way for our customers to get their deliveries made. So good acquisition and organic contribution in the quarter. We're very happy with how the business performed in the quarter and in particular with the organic growth the business was able to produce, a few comments on our two most recent acquisition additions. The first is on GroundCloud. We combined with GroundCloud in February. GroundCloud is particularly strong in safety and compliance solutions that help identify safety incidents faced by drivers and provide responsive and targeted video training on challenges drivers face. They also help companies manage delivery obligations as they have subcontractors to other delivery brands, such as FedEx. This was one of our larger acquisitions.And when we first combined, we indicated we anticipated some impact overall on our adjusted EBITDA margin, which we saw in Q1. We've made good progress on integration and actually saw a slight uptick in aggregate adjusted EBITDA margin this quarter, so we're hoping that bodes well for the future. Finally, FedEx has recently announced that it may increase the number of shipments that will move to the independent contractor network. So we saw some good initial improved demand for that. Second acquisition is Localz. This business provides final mile visibility on deliveries. So if you're used to watching your Uber driver or food delivery vehicle come down the street to your house, Localz technology replicates that experience for delivery of other goods.This was a key investment in our routing, scheduling and mobile space, something our own customers need and they seek to provide a better delivery experience for their own customers. This investment was critical to some of our new customers trusting their fleet management to Descartes. Let me just summarize as I hand it over to Allan to give full financial details on the quarter. We had record financial results. The business performed well. And we believe that's a good reflection of the value that our customers continue to get from our solutions and the hard work that our team continues to put in for our customers. We ended the quarter with $227 million in cash, $350 million in available credit, and a market opportunity where we continue to grow the business for our customers both organically and through acquisitions.We remain focused on profitable growth so that we can continue to ensure our customers have a secure, stable and growing technology partner that can help them with their challenges well into the future. Many thanks to all the Descartes team members for everything they've done to contribute to a great quarter and continue to have our business in an enviable position for future success. I'll turn the call over to Allan to go through our Q2 financial results in more detail.Copyright: dizanna / 123RF Stock PhotoAllan Brett: Thanks, Ed. As indicated, I'm going to walk you through our financial highlights for our second quarter, which ended on July 31. We are pleased to report record quarterly revenue of 143.4 million this quarter, an increase of 17% from revenue of 123.0 million in Q2 last year. While revenue from new acquisitions, including the GroundCloud acquisition completed earlier in the year, as Ed just mentioned, contributed nicely to this growth, similarly to the first quarter and really the last several years, growth in revenue from new and existing customers from our existing solutions was the main driver in growth this quarter when compared to last year. Looking further at our numbers, our revenue mix in the quarter continued to be very strong with services revenue increasing 19% to 130.7 million or 91% of total revenue compared to 109.4 million or 89% of total revenue in the same quarter last year.Services revenue was also up nicely sequentially increasing just over 5% from the first quarter of this year, as we continue to help our customers expand with new services and additional volumes. Removing the impact of recent acquisitions, on a like-for-like basis, we would estimate that our growth in services revenue from new and existing customers would have been just over 9% for the quarter when compared to the same quarter last year, similarly to the results we saw in Q1 this year. License revenue came in at 1.4 million or just 1% of revenue in the quarter, down from license revenue of 3.3 million in the second quarter last year, as we had a couple of larger than normal license deals closed in the second quarter last year while professional services and other revenue came in at 11.3 million or 8% of revenue, up approximately 10% from revenue of 10.3 million in Q2 last year.This was mainly as a result of recent acquisitions, including GroundCloud. Gross margin for the second quarter was 76% of revenue for the quarter, pretty consistent with gross margins we realized both in the first quarter of this year and the second quarter last year. Operating expenses increased by approximately 19% in the second quarter over the same period last year, and this was primarily related to the impact of recent acquisitions, including GroundCloud but also from additional labor-related costs as we continue to invest in various areas of our business to prepare for future growth. So as a result of both revenue growth offset slightly by our planned cost increases in the business, we continue to see strong adjusted EBITDA growth of 12% to a record 60.6 million, up from 54.0 million in Q2 last year.As a percentage of revenue, adjusted EBITDA came in at 42.3% of revenue, down from 43.9% of revenue in Q2 last year. And as mentioned in Q1, this is once again primarily related to the acquisition of GroundCloud earlier in the year as it came into Descartes with much lower EBITDA ratios than the rest of our business. We should note that our adjusted EBITDA ratio as a percentage of revenue did increase slightly in Q2 when compared to Q1 of this year, as we've already started to work at improving the profitability on the GroundCloud business consistent with our plans as Ed mentioned earlier. As a result of the above, net income under GAAP came in at 28.1 million or $0.32 per diluted common share in the second quarter, an increase of 23% from net income of 22.9 million or $0.27 per diluted common share in the second quarter last year.If we look at our operating results for the first half of the year, the trends stay the same. Revenue came in at 280.0 million, an increase of 17% from revenue of 239.4 million in the first six months last year. For the six months year-to-date, adjusted EBITDA came in at 118.3 million or 42.3% of revenue, up just over 12% from 105.2 million or 43.9% of revenue last year. Net income for the six-month year-to-date period increased 25% coming in at 57.5 million or $0.66 per diluted common share compared to 46.0 million or $0.53 per diluted common share in the first half of last year, again, with higher operating profits being partially offset by higher tax expense. With these strong operating results and continued strong accounts receivable collections, cash flow generated from operations came in at 52.0 million or 86% of adjusted EBITDA in the second quarter, an increase of 12% from operating cash flow of 46.4 million or also 86% of adjusted EBITDA in the same quarter last year.For the six months year-to-date, operating cash flow has been 100.9 million or 85% of our adjusted EBITDA, up 11% from 90.8 million in the first half of last year. And we should mention as always going forward, we expect to continue to see strong cash flow conversion and generally expect cash from operations to be between 80% to 90% of our adjusted EBITDA in the periods ahead, subject any unusual fluctuations or future changes and contingent consideration payments that we'll discuss later as I comment on our outlook for the second half of the year. So overall, we're once again pleased with our operating results in the quarter as strong organic growth and solid performance from our recent acquisitions resulted in 17% growth in revenue and a 12% increase in adjusted EBITDA for the quarter.If we turn our attention to the balance sheet, our cash balances totaled 227 million at the end of July, an increase of approximately 45 million from the end of the first quarter in April. While we generated 52 million in cash flow from operations, we also used 6 million of our existing cash balances to complete an earn-out or contingent consideration payment on a past acquisition, while also adding 2 million in capital additions during the quarter. As a result, we currently have our 227 million of cash as well as a $350 million line of credit available under our credit facility available to deploy towards future acquisitions. So we continue to be well capitalized to allow us to consider all opportunities in our market consistent with our business plan.As we turn our attention to the second half of fiscal 2024, we should note the following. After incurring approximately 3.4 million in capital additions in the first half of the year, we expect to incur approximately 2 million to 3 million in additional capital additions for the balance of the year. At this point, we currently expect the second half of the year we'll use approximately 22.8 million of our cash to pay additional contingent consideration payments on two acquisitions. While the entire 22.8 million estimated contingent consideration to be paid is now accrued for on our balance sheet, 12.7 million of this balance relates to the portion of the earn-out arrangements that were accrued for at the time of the acquisition and will be reflected in cash flow from financing activities while the remaining balance of approximately 10 million will be reflected in cash flow from operating activities when paid as a result of these acquisitions have been better than our initial expectations.After incurring amortization costs of 30.2 million in the first half of the year, we expect the amortization expense will be approximately 29.8 million for the second half of the year, with this figure being subject to adjustment for foreign exchange changes and future acquisitions. Our income tax rate for the second quarter came in at approximately 27% of pre-tax income, which is right around our blended statutory tax rate. Looking into the second half of the year, we currently expect our tax rate will continue to be in the range of 25% to 30% of our pre-tax income, or somewhere either side of our statutory blended rate. However, as always, we should state that our tax rate may fluctuate quarter-to-quarter from one-time items that may arise as we operate internationally across multiple countries.And finally, after incurring stock-based compensation expense of 7.4 million in the first half of this year, we currently expect stock compensation will be approximately 9.3 million for the balance of the year, subject to any forfeitures of stock options or shared units. And with that, I'll turn it back over to Ed to wrap up with some closing comments as well as our baseline calibration for Q3.Ed Ryan: Great. Thanks, Allan. With Q3 a month in, we remain confident in our business but cautious about the broader economic circumstances and various statistics and commentary relating to the supply chain logistics markets. On the broader economic front, this continued high interest rates, pervasive conflict in Ukraine, labor availability challenges and various recessionary pressures and economic discussions. In the supply chain and logistics market, here's a few things we're noting. First is shipping volumes. Shipping volumes across various modes of transportation are below their pandemic highs and more closely tracking pre-pandemic trends. In addition, there are some current challenges such as the reduced flow through the Panama Canal caused by low water levels that could impact shipping alternatives.The second is retailer inventories. This higher level of retailer inventories potentially impacting fall replenishment cycles, inventories aren't decreasing, implying retailers are matching demand with replenishment and potentially carrying more safety stock. The third is consumer demand. There's uncertain consumer demand coming into this peak buying season, in particular it's uncertain how spending habits will split between durable goods and services and experiences. Overall, U.S. consumer spending is still high, but there's caution as we approach the holiday season. The fourth is some capacity left the market. The U.S. truck market has seen some capacity come out of the market with the recent bankruptcy of Yellow. The market continues to adjust the post pandemic volumes and it's possible more capacity will leave.In air, we're seeing capacity adjustments with less reliance on pure air freighters. With additional trade restrictions, there continues to be new restrictions announced principally relating to the war in Ukraine and in connection with burgeoning trade tensions between the U.S. and China. Some new restrictions have been announced with respect to investment in and trade in chip manufacturing, AI and quantum technologies. These restrictions can be positive for our global trade intelligence business, but can also impact freight volumes. There’s also labor challenges. Labor negotiations have created challenges for UPS, West Coast ports and Yellow and may impact other unionized supply chain players. Next are some logistics participants planning for a muted peak season.General commentary from logistics participants is bracing for lower volumes in the second half of the year with some companies taking proactive cost reduction activities. This is illustrative of the pervasive sentiment of caution. And then finally, distribution of parcel volumes among larger players is uncertain. As I mentioned earlier, UPS has some labor challenges which may have resulted in some parcel buying cautiously being redirected to other players. FedEx has publicly indicated it will be moving more parcel volume to its ground division with independent contractors and away from its Express division using employees. The U.S. Postal Service has implemented various new service adjustments as it seeks to compete and Amazon has announced its reentering the parcel delivery business.All of this combines to provide a very competitive environment with uncertainty as to how the volumes will shake out among the various providers. So those are some of the things we're hearing from our customers and seeing in our business, things that also inform our calibration for the quarter. Our business is designed to be predictable and consistent. We believe that stability and reliability are valuable to our customers, employees and our broader stakeholders. To deliver this consistency, we continue to operate from the following principles. Our long-term plan is for our business to grow adjusted EBITDA 10% to 15% annually. We grow through a combination of organic growth and acquisitions. We take a neutral party approach to building and operated solutions on our global logistics network.We don't favor any particular party. We run our business for all supply chain participants, connecting shippers, carriers, logistics, service providers and customs authorities. When we over perform, we try to invest that over performance back into our business. We focus on recurring revenues and establishing relationships with customers for life. And we thrive on operating a predictable business that allows us forward visibility to our revenues and investment paybacks. In our Q2 report, we provided a comprehensive description of baseline revenues, baseline calibration, and there are limitations. As of August 1, 2023, using a foreign exchange rate of $0.75 to the Canadian dollar, $1.10 to the euro and $1.28 to the Great Britain pound, we estimate that our baseline revenues for the third quarter of 2024 are approximately $124 million and our baseline operating expenses are approximately $78 million.We consider this to be our baseline adjusted EBITDA calibration of approximately $46 million for the third quarter of 2024 or approximately 37% of our baseline revenues as at August 1, 2023. We continue to expect the adjusted EBITDA operating margin range of 40% to 45%, our margins vary in that range given such things as foreign exchange movements and the impact of acquisitions as we integrate them into our business. Last quarter, GroundCloud impacted our margin while we started the integration work to bring it up to our desired Descartes contribution levels. The integration activities have gone well, we've already seen some margin improvement in Q2, and we're planning for some additional margin improvement going forward, absent any other acquisition activity.We've got lots of exciting things planned in our business. It remains an uncertain broader economic and supply chain environment. But we believe our proven track record of execution, solid capital structure and customer focus will serve us well. Thanks, everyone, for joining us on the call today. As always, we're available to talk to you about our business in whatever manner is most convenient for you. And with that, operator, I'll turn it over to you for questions.See also States With the Lowest to Highest Capital Gains Tax Rate and 15 Biggest Clothing Manufacturing Countries in the World.Q&A SessionOperator: Thank you. Ladies and gentlemen, we will now conduct a question-and-answer session. [Operator Instructions]. Your first question comes from the line of Matt Pfau from William Blair. Your line is now open.Matt Pfau: Great. Thanks, guys. I wanted to follow up on some of the comments you made about potential headwinds in the back half of the year here. How should we think about those in terms of the potential impact on your business? Part of your business is transaction based but it's not as simple as just being tied to shipping volume. So how do we think through the potential puts and takes there in terms of the impact on your revenue?Ed Ryan: Well, as we've been talking about for a year or two now, we have a lot of things going very well in our business. And maybe it will be going better if at some point in the future, transportation transactions went down. We don't know what the future is going to bring. We're just running the business, looking at what's going on in the market and going hey, there's some uncertainty out there. So we'll see what happens. As you've seen in the past, transportation transactions have gone down and still performed very well. We do that because we sell a lot of software outside of that 60% of our recurring revenues outside of transaction-based volume. And even in the transaction space, we tend to be picking up more volume over the course of a quarter or a year because our customers are doing more business with us and as a result we end up doing pretty well even in the face of the industry having a lackluster time.So we'll see what happens. I don't know what's going to happen in the rest of the year. We've heard different things, the same stuff you probably read in the paper. We'll see what happens, but we like our chances either way.Matt Pfau: Great. And just wanted to follow up on MacroPoint. You called out that that's been an area of strength and performing well in a trucking environment that was oversupplied. How does trucking capacity coming out of the system potentially impact that? Is that anything material to think about?Ed Ryan: That's interesting. That's actually one of the areas I think about when I made the comment a minute ago. MacroPoint continues to grow in a relatively flat truck environment, because it continues to pick up more and more customers and more volume from our competitors. I went over that in some of the prepared comments on the call today. But MacroPoint's a big beneficiary of that as people realize the importance of having a network and they value that over a flashy application, because we can track more loads, more and more customers are settling with Descartes because they're saying, hey, that's what's most important. My ability to put in 100 loads and be able to track high 80s, low 90s percentage of those loads is much more important than the visibility application I'm using myself. Most of the time, they're not even using an application to look at these things.Matt Pfau: Great. Thanks guys for taking my questions. I appreciate it.Ed Ryan: Thanks, Matt.Operator: Your next question comes from the line of Paul Treiber from RBC. Your line is now open.Paul Treiber: Thanks very much. Good afternoon. Just a question on the earn-outs. I don’t recall in the past you having this degree of earn-outs. What's changed now over the last several acquisitions that are leading to these earn-outs versus acquisitions in the past?Ed Ryan: Yes, it’s an interesting question and you're right that several deals we've done in the past couple of years have done that. I think there was a -- you probably heard me talk about it on past calls, a rebalancing going on where everything was selling for high dollar volumes as everyone was booming coming out of the pandemic. When that started to slow down, companies were finding it hard to get people to pay up for acquisitions. An earn-out is one way to bridge that gap. We've used it effectively a few of the times. It's not really our first choice. We’d probably just pay cash for something and own the asset outright. But when there's a dispute about what the fair price is for something, we've used them to get over that hurdle and quite effectively, most of the time or in fact every time, we have an earn-out in a process.We're very happy for that acquisition to get the earn-out because that usually means we bought a business that’s doing very well and probably going to do very well for us in the future. So we've used this. It’s probably not our first choice, but certainly something we've done when we think it's appropriate.Paul Treiber: And then shifting to one of your more recent acquisitions, GroundCloud, you mentioned the integration go well and some margin expansion. How do we think about the long-term margin profile at that business? Do you think you can get it up to the company average margin profile?Ed Ryan: We'll see. Our hope is to -- we bought it much, much lower than that. And our hope is to get it up as close as we can to that. I don't know if we have our sights set on the company average margin profile right now. But certainly, we'd like to get it up 10, 12 points, which will get it close.Paul Treiber: That will be great to see. Just a last question just on the M&A environment in general. Your comments about the macro environment expressed a lot of caution. Are you seeing that caution still in the M&A environment in regards to the valuation?Ed Ryan: I think we're starting to see it in pricing [ph] in some of the deals we've been doing now. We're getting more deals done now than we were six, eight months ago. So I think it's starting to settle itself out right now. And we will see what happens in the economy. If the economy gets worse, it's probably going to get easier for us to get stuff done. If it gets better, people might start saying I want more money for the companies I’m selling. So we'll have to see what happens. But we like what we see right now and have been able to get what we think are very high quality acquisitions done at a price we think we can make money for our shareholders.Paul Treiber: Thanks for taking the questions.Ed Ryan: Thank you, Paul.Operator: Your next question comes from the line of Justin Long from Stephens. Your line is now open.Justin Long: Thanks. And I guess to start building on that last question, it sounds like valuations on acquisitions have started to come down and you've talked about that the last couple of quarters or so. In terms of just deal activity, have you seen things pick up and maybe could you talk about your confidence in deploying capital in the back half of the year? I know there weren't any acquisitions in this most recent quarter.Ed Ryan: Yes, I think that's right. I think we're starting to see prices come into what we think is a reasonable range. That's why we're able to get acquisitions done. And I think we're starting to see more stuff for sale. Again, if there was kind of a lag there for six months or so when no one knew what to do, I think it’s starting to open up now. We're starting to see the type of quality assets that we wanted at prices that we think are fair prices for them. And let’s see what happens. But hopefully that translates to the ability to get more deals done in the future.Justin Long: Got it. And I know organic growth in the services business is what's most important. But Allan, could you share your estimate for all-in organic growth in the quarter? And maybe just going forward, Ed, how do you feel about the sustainability of the organic growth we've seen in that services business? It's held up really well despite a weak freight market. So just wanted to get a sense for your confidence in that continuing?Allan Brett: Yes. So I'll take the first part of it. Overall growth was less than the -- just over 9% that we saw in services. We certainly saw a lower license quarter, as I mentioned earlier. We had larger licenses in Q2 last year. We’re back to the more basic sort of 1.4 million this quarter. Professional services and other revenue was also flattish, down slightly. So in around the 6% or so currency neutral for the entire business compared to just over 9% on services. Ed?Ed Ryan: Yes. Thanks, Allan. With regard to sustainability, we'll see what happens in the long run. But in the quarters coming up here, we think we're in pretty good shape, right? We think we're running a strong business, some of the things I went over in the prepared remarks in the beginning of the call we think that puts us in a position to continue to have good organic growth in the business. I've probably mentioned this on past calls, but over the past seven or eight years, we've tended towards buying higher quality assets as we've been forced to pay a little more than we used to for stuff, we tended to pick higher quality assets with higher rates of growth. And that translated into us moving from the mid single digits before the pandemic to after the pandemic coming out in the high single digits. And we're going to do our best to stick in that range. And obviously, economy has some effect on that. But at the moment, we like what we see.Justin Long: Great. Thanks for the time and congrats on the quarter.Ed Ryan: Thank you very much, Justin.Operator: Your next question comes from the line of Scott Group from Wolfe Research. Your line is now open.Scott Group: Thanks. Good afternoon, guys. Ed, I think last quarter you were talking about ocean volume starting to improve and customers telling you maybe a little bit more normal inventory replenishment trends coming. Are they now saying something different? I just want to understand sort of what you're saying on the macro and more broadly just your views around like peak season, if you have any?Ed Ryan: Well, I don't know yet. I've heard rumors that it's going to be maybe a muted peak season. I also see stuff going on with the Panama Canal, which probably for us it probably doesn't matter very much. People tend to find other ways to move the cargo which results in other shipments on our network. So it ends up being fine for us. But for our customers, if that's what you're asking, I think disruptions like that tend to cause them some troubles. I don't have a crystal ball on what's going to happen in Christmas season. I’ll probably tell you -- I'll know for sure at the end of next quarter. But the rumors I've heard is it might be a little muted, but I don't think it's something that's significant and certainly not something that's probably going to impact our numbers as much as maybe it might impact some of the ocean carriers numbers a bit. But I don't hear anything horrific going on. I don't hear anything spectacular going on either. So it looks the same.Scott Group: Okay. And then you spend some time talking about the parcel carriers and volume shifts with UPS and FedEx and the post office. Does that matter to you? Are you agnostic to where the volume goes? I just want to understand the volumes.Ed Ryan: Yes. We were trying to describe what was going on in the market for us. You're right. We're probably a little more agnostic to it. We do business with all of them. We like all of them, have good relationships with all of them. We're not trying to help pick winners in this. We just help service each of them. And there are times when some do better than others. There are sometimes when some move more freight to us than others. But in general, it works out, tends to balance out across all the larger carriers you mentioned.Scott Group: Okay. And then just lastly, when I think about the step up in organic growth now versus pre-COVID, how much is price helping now? Even if it's not like real price, just nominal price to just keep pace with more inflation. Is that a meaningful contributor now to organic that maybe you didn't have in the past?Ed Ryan: I'll let Allan comment a little bit on this, but I wouldn't call it meaningful, but it's there. Certainly we raised prices last year because of the high inflation. But Allan can comment on it.Allan Brett: Yes. We're raising prices across the business, across our product lines. Despite that, the overwhelming majority of our growth is still going to be volume related. That's going to be consistent. So we're using price to offset the cost pressures we have. We should be doing that as a business. But for the most part, our growth is going to be heavily focused on volume doing more with new and existing customers.Scott Group: Thank you, guys.Ed Ryan: Thanks, Scott.Operator: Your next question comes from the line of Robert Young from Canaccord Genuity. Your line is now open.Robert Young: Hi. Just wanted to add to the very first question around transaction revenue not being as simple as just tied to shipping volumes. I think there's some transaction minimums on some of the contracts. Just maybe you can refresh that and how much protection that provides on weaker volumes?Ed Ryan: Most of our contracts in the transaction space are done at a minimum of 85% to 90% of the normal volume that a customer has. That plays a role from time to time with individual customers. I think more importantly, we watch the transportation volumes. Our business continues to grow. And in tougher economic times we tend to have more companies hit our direction because they tend to shy away from the smaller guys when they get worried about people in this space struggling. So we’ve tended to pick up more volume then. When customers start hurting, they start asking everyone for discounts because we provide 10 or 15 different services to them. We have a lot to negotiate with and the potential to pick up more business from our smaller competitors that are not in a stronger position as us.So as it happened in '08 and in the pandemic and a couple other times when we've had weaker economic times, and again I don't know that that's what we're looking at right now, we're probably looking at more of a muddled economic scenario right now. But in weaker economic times, we've tended to pick up volume in the face of our customers having less volume, and we come out of that stronger than ever and we tend to not have the same lows that maybe some of our competitors would have in transaction volumes, which is why when these things happen, you look at our numbers and say, why didn't they go down? And it's that plus the combination of other strengths in the subscription part of our business that continued to do well to this day.Robert Young: All right. And then second one for me, you're talking about the impact of union agreements and a lot of change there. Does that have an impact on your customers’ willingness to invest in technology to improve the visibility or having the price of the delivery itself goes up, then you would assume that technology becomes a better way to seek efficiency? Is that something you’re seeing or does it just pressure volumes?Ed Ryan: In the short term, it can pressure volumes. It can do things to our customers probably a lot more than it would to us. In the longer term, though, you're absolutely right. You've heard us say a number of times change in our business or in our customers’ business drives more success for Descartes and I think that's absolutely true in situations like this. The more of the supply chain disruptions and strikes, of course, are certainly one of them. The more you have people saying I need more information and I need more technology, so that I can do something about that next time it happens. And that plays right into our hand. We saw it in spades in the pandemic. It's probably 10 other scenarios I could walk you through in the past where that's really helped us, the tariffs, with Trump, and et cetera, things like that. And we're not looking forward to those changes, but when they occur, they tend to be a tailwind for us.Robert Young: All right. Thanks for the question.Ed Ryan: Thank you, Robert.Operator: Your next question comes from the line of Raimo Lenschow from Barclays. Your line is now open.Jeremy Campbell: Great. Thank you. This is Jeremy on for Raimo. I was just wondering if you could give a bit more color on how the trade intelligence segment performed in the quarter, and then just broadly your outlook there in terms of both organic investment and M&A around that business line. Thank you.Ed Ryan: Thanks, Jeremy. Trade intelligence has been doing very well for several years now. Starting with the tariffs stuff when Trump became President, the nationalistic tendencies you saw around the world that caused maybe people to pay more attention to it. Ukraine-Russian war has also added to it as we see sanctions getting put on a number of parties and a big part of our databases there are sanctioned and right through to today. This business has been doing very well. And I think you asked if we continue to be bullish about it? We absolutely do. It’s one of our best performing businesses. It’s one of our most profitable businesses. It's one of the businesses where we think we help the customers the most in a very simple way. And, of course, if there were acquisition opportunities there, we would be excited about that because we love the business.Jeremy Campbell: Got it. Thank you.Ed Ryan: Thank you.Operator: Your next question comes from the line of Kevin Krishnaratne from Scotiabank. Your line is now open.Kevin Krishnaratne: Hi there. Good evening. You talked about some of the strength and the success you're seeing in visibility. You talked about winning new customers, but also bringing guys back in. I'm curious if you can remind us why customers might leave, while they're coming back. You mentioned some new products like self service tools. Just curious to know your thoughts there.Ed Ryan: Yes. So over the past seven or eight years since we bought MacroPoint, there were a number of other players in that space that were spending a ton of money advertising, getting their name out there and launching themselves towards the moon, losing a ton of money while they're doing it without what seemed to us like without a whole lot of regard to that. I think over time, that helped them pick up some customers, right? You make enough noise and you spend enough money, you probably pick up some customers, but in the long run those customers start looking and saying, hey, who's the best provider here? And maybe it's not the guy with the name in the newspaper, maybe it's the guy that can track the most loads for me. And over time, I think we've been -- as a network operator, you expect us to focus on this.Those guys focused on things like I just mentioned. We focused on getting more connections on the network. And as a result, we track more loads by a lot than our competitors do. And I think over time, the customers realize that's what's most important. And that's helped us get some competitive wins in that space.Kevin Krishnaratne: Okay, got it. Thanks for that. Second question is e-commerce, a growing market. You made a bunch of acquisitions during the pandemic. Can you remind us how you guys think about that business in terms of the size, percentage of revenue, and maybe if you can give us some thoughts on the growth profile there? E-commerce industry wide seems to be trending back up after normalizing a year ago. Can you just comment on the e-commerce business?Ed Ryan: Yes. We're big fans of the e-commerce business. We got in it seven, eight years ago, nine years ago now and continue to buy any asset in that space that we think would be a good fit for what we already do and with an ability to help us grow our network. It's about 10% of our business today. It's one of our faster growing businesses. And yes, we absolutely continue to like that business and think that as more and more people order stuff online, that business is going to continue to do well for us for the foreseeable future.Kevin Krishnaratne: Got it. Just last one for me, Localz sounds it's doing well. I know that was more of an APAC focused business. Are you starting to sell that product into other dealers and customers?Ed Ryan: We've always provided that service through third parties. And when we had a chance to buy Localz, we thought that was a great opportunity for us to be able to do that ourselves without paying a third party to do it. So that's what we did. And we're bringing it to all the jurisdictions that we operate in right now. It's a simple service, right? You order something and you want to see the truck driving to your house and you can go on an app and you can see where the driver is. That having been said, to someone who's trying to deliver furniture or something of that nature, it's very important that you're there when they come to make the delivery. And a mobile functionality like that really helps make sure that customers know when the truck’s coming so that they're there to get the furniture or whatever it is that they ordered from you.So we want to make sure we're able to bring that experience to all of our customers. And now we're doing it in a way where we own the entire solution. So we're happy about that.Kevin Krishnaratne: Got it. I appreciate the color. Thanks.Ed Ryan: Thanks, Kevin.Operator: There are no further questions at this time. Please continue.Ed Ryan: Great. Thanks, everyone. I appreciate your time today and we look forward to reporting back to you next quarter. Have a great day.Operator: Ladies and gentlemen, this concludes today's conference call. Thank you for your participation. You may now disconnect.

Insider Monkey

The Descartes Systems Group Inc. (NASDAQ:DSGX) Q2 2024 Earnings Call Transcript

https://finance.yahoo.com/news/descartes-systems-group-inc-nasdaq-131224255.html

593d1a38-f6c2-300f-aa09-b89cf3d48e1b

DTE

Avangrid Inc. AGR recently announced that it will construct the Camino Solar Project, its first photovoltaic solar project in California, where the company currently has six wind energy facilities in operation, producing more than 500 megawatts (MW).The 57 MW Direct Current (MWdc) project, with more than 105,000 panels, will be constructed by Cupertino Electric, Inc. in Kern County, adjacent to Avangrid’s 189 MW Manzana Wind farm. This will generate enough electricity to take more than 20,000 cars off the road. The project’s commercial operation is anticipated in 2025.Focus on RenewablesAvangrid plans to achieve carbon neutrality by 2035. Currently, the company operates 75 wind and solar facilities, producing 8.7 gigawatts (GW) of renewable energy.Avangrid’s renewable projects are presently in the process of development, which will add 408 MW of solar and 912 MW of wind, boosting the company's clean energy generation capacity.Growth ProspectsWith the United States being one of the major forerunners in the global transition toward clean energy, solar power continues to constitute a significant portion of the rapidly expanding U.S. renewables market. Per a Mordor Intelligence report, the U.S. solar energy market is expected to record a CAGR of 16.48% during 2023-2028, reaching a solar installed capacity of 352 GW by 2028.This should benefit Avangrid and other utility players like NextEra Energy Inc. NEE, DTE Energy Co. DTE and Pinnacle West Capital Corp. PNW, which are enhancing their footprint in the U.S. solar market.NextEra plans to add 33-42 GW of new renewables during the time period 2023-2026. Its subsidiary Florida Power & Light Company plans to add in excess of 20,000 MW of cost-effective solar capacity to its portfolio.NEE’s long-term (three- to five-year) earnings growth rate is 8.4%. The Zacks Consensus Estimate for its 2023 sales indicates an increase of 29.5% over 2022’s reported figure.DTE Energy has a capital investment of $11 billion planned over the next 10 years for clean energy transition. The company intends to develop 1,830 MW of energy storage, 6,500 MW of solar and 8,900 MW of wind by 2042. The company also plans to convert the two units at the Belle River facility from a base load coal plant to a 1,300 MW natural gas peaking resource in 2025-2026.DTE’s long-term earnings growth rate is 6%. The stock boasts a four-quarter average earnings surprise of 4.07%.Pinnacle West Capital expects to invest $1.34 billion in clean power generation during 2023-2025. Currently, 1,425 MW of solar power is under long-term PPAs, to be operational by 2025.PNW’s long-term earnings growth rate is 6.5%. The Zacks Consensus Estimate for its 2023 sales indicates an increase of 4.7% over 2022’s reported figure.Story continuesPrice PerformanceOver the past month, shares of AGR have lost 10.1% compared with the industry’s decline of 9.3%.Zacks Investment ResearchImage Source: Zacks Investment ResearchZacks RankAvangrid currently has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNextEra Energy, Inc. (NEE) : Free Stock Analysis ReportDTE Energy Company (DTE) : Free Stock Analysis ReportPinnacle West Capital Corporation (PNW) : Free Stock Analysis ReportAvangrid, Inc. (AGR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Avangrid (AGR) Unveils its First California Solar Project

https://finance.yahoo.com/news/avangrid-agr-unveils-first-california-141200653.html

60d92152-8da0-32ab-80ea-35aee9a9d82b

DTE

Key InsightsSignificantly high institutional ownership implies DTE Energy's stock price is sensitive to their trading actionsA total of 13 investors have a majority stake in the company with 51% ownership Insiders have sold recently To get a sense of who is truly in control of DTE Energy Company (NYSE:DTE), it is important to understand the ownership structure of the business. With 76% 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.Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute.Let's take a closer look to see what the different types of shareholders can tell us about DTE Energy. See our latest analysis for DTE Energy ownership-breakdownWhat Does The Institutional Ownership Tell Us About DTE Energy?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 DTE Energy does have institutional investors; and they hold a good portion of the company's stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at DTE Energy's earnings history below. Of course, the future is what really matters.earnings-and-revenue-growthInvestors should note that institutions actually own more than half the company, so they can collectively wield significant power. Hedge funds don't have many shares in DTE Energy. The Vanguard Group, Inc. is currently the company's largest shareholder with 13% of shares outstanding. Capital Research and Management Company is the second largest shareholder owning 9.6% of common stock, and BlackRock, Inc. holds about 9.3% of the company stock.Story continuesA closer look at our ownership figures suggests that the top 13 shareholders have a combined ownership of 51% implying that no single shareholder has a majority.While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.Insider Ownership Of DTE EnergyWhile the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.Our most recent data indicates that insiders own less than 1% of DTE Energy Company. Being so large, we would not expect insiders to own a large proportion of the stock. Collectively, they own US$147m of stock. Arguably recent buying and selling is just as important to consider. You can click here to see if insiders have been buying or selling. General Public OwnershipWith a 24% ownership, the general public, mostly comprising of individual investors, have some degree of sway over DTE Energy. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.Next Steps:It's always worth thinking about the different groups who own shares in a company. But to understand DTE Energy better, we need to consider many other factors. Case in point: We've spotted 3 warning signs for DTE Energy you should be aware of, and 1 of them is significant.If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

With 76% ownership of the shares, DTE Energy Company (NYSE:DTE) is heavily dominated by institutional owners

https://finance.yahoo.com/news/76-ownership-shares-dte-energy-153913742.html

ee9c2b18-0b78-397b-a46e-5b84c5658bc7