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Should You Hold EverQuote (EVER) Stock in Your Portfolio?
EverQuote (EVER) stands to gain from reduced operating expenses, revenue growth within the health direct-to-consumer agency and a robust capital position. EverQuote, Inc.’s EVER reduced operating expenses, the enhancement of its platform via machine learning and artificial intelligence, and expected recovery in the auto insurance business make it worth retaining in one’s portfolio.Growth ProjectionsThe Zacks Consensus Estimate for EverQuote’s 2024 earnings per share (EPS) indicates a year-over-year increase of 68.1% from the consensus estimate of 2023. The consensus estimate for revenues is pegged at $320.26 million, implying a year-over-year improvement of 11.2% from the consensus mark of 2023.The Zacks Consensus Estimate for 2025 EPS indicates a year-over-year increase of 56.8% from the consensus estimate of 2024. The consensus estimate for revenues is pinned at $391.32 million, implying a year-over-year improvement of 22.1% from the consensus mark of 2024.Earnings Surprise HistoryEverQuote has a decent earnings surprise history. Its bottom line beat estimates in each of the last four quarters, the average being 36.78%.Zacks Rank & Price PerformanceEVER currently carries a Zacks Rank #3 (Hold). Over the past year, the stock has risen 41.7% compared with the industry’s growth of 29.4%.Image Source: Zacks Investment ResearchGrowth DriversEVER remains focused on rapidly expanding into new verticals. Growth in overall consumer quote requests should benefit EverQuote, as it reflects the insurer’s success in generating consumer traffic and the potential to increase the share of insurance-shopping consumers.The variable marketing margin (VMM) is likely to gain from declining customer acquisition costs and a shift in the revenue mix to local agent networks with higher VMMs. The company expects VMM to benefit from strong revenue growth within the health direct-to-consumer agency during the annual health open enrollment period. This is expected to drive an improvement in the VMM operating point for the business. EverQuote expects VMM in the first quarter of 2024 between $26 million and $28 million.EVER boasts a debt-free balance sheet with cash balance improving over the last three years. The insurer aims to meet any future debt service obligations with the existing cash and cash equivalents, and cash flows from operations. In its efforts to strengthen its balance sheet and liquidity position, EVER modified the existing loan agreement with Western Alliance Bank. The company has a $25 million undrawn working capital line of credit with Western Alliance Bank, which is available until July 2025.The company discontinued its health insurance vertical in June 2023 in a bid to reduce expenses and enhance capital efficiencies. Moreover, EVER focused its resources on home and renters’ insurance, whose revenues showed a year-over-year improvement of 51% in the third quarter. This move highlights its ability to generate a good top-line performance from a less troubled segment.EverQuote's expectation of insurance premium increases and improving the profitability of insurance carriers should fuel its top-line growth in the near future on higher customer acquisition demand. The cost of claims shows signs of stabilization, improving the prospects for EVER and the auto insurance industry.Stocks to ConsiderSome better-ranked stocks from the multi-line insurance industry are Horace Mann Educators Corporation HMN, CNO Financial Group, Inc. CNO and Assurant, Inc. AIZ. While Horace Mann and CNO Financial sport a Zacks Rank #1 (Strong Buy), Assurant carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Horace Mann Educators’ earnings surpassed estimates in each of the last four quarters, delivering an average surprise of 15.24%.The Zacks Consensus Estimate for HMN’s 2024 and 2025 earnings implies year-over-year growth of 104.5% and 19%, respectively, from the consensus estimate of the corresponding years. In the past year, the insurer has gained 4.3%.CNO Financial’s earnings surpassed estimates in two of the last four quarters and missed in the other two, the average earnings surprise being 3.62%.The Zacks Consensus Estimate for CNO’s 2024 and 2025 earnings implies year-over-year growth of 2.5% and 7.1%, respectively, from the consensus estimate of the corresponding years. In the past year, the insurer has jumped 22.6%.Assurant’s earnings surpassed estimates in each of the last four quarters, delivering an average surprise of 42.15%.The Zacks Consensus Estimate for AIZ’s 2024 and 2025 earnings implies year-over-year growth of 3.4% and 7.7%, respectively, from the consensus estimate of the corresponding years. In the past year, the insurer has surged 62.9%. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 report CNO Financial Group, Inc. (CNO): Free Stock Analysis Report Assurant, Inc. (AIZ): Free Stock Analysis Report EverQuote, Inc. (EVER): Free Stock Analysis Report Horace Mann Educators Corporation (HMN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Down -14.35% in 4 Weeks, Here"s Why Galapagos NV (GLPG) Looks Ripe for a Turnaround
Galapagos NV (GLPG) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock. Galapagos NV (GLPG) has been beaten down lately with too much selling pressure. While the stock has lost 14.4% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why GLPG Could Bounce Back Before LongThe heavy selling of GLPG shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 26.85. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for GLPG has increased 76.7%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, GLPG currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 report Galapagos NV (GLPG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Down -28.34% in 4 Weeks, Here"s Why You Should You Buy the Dip in Matterport, Inc. (MTTR)
Matterport, Inc. (MTTR) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term. Matterport, Inc. (MTTR) has been on a downward spiral lately with significant selling pressure. After declining 28.3% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why MTTR Could Bounce Back Before LongThe heavy selling of MTTR shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 29.72. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering MTTR in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 12.2% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, MTTR currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 report Matterport, Inc. (MTTR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Down -9.91% in 4 Weeks, Here"s Why You Should You Buy the Dip in Adobe (ADBE)
The heavy selling pressure might have exhausted for Adobe (ADBE) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. A downtrend has been apparent in Adobe Systems (ADBE) lately with too much selling pressure. The stock has declined 9.9% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Here's Why ADBE Could Experience a TurnaroundThe heavy selling of ADBE shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 28.12. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering ADBE in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 0% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, ADBE currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 report Adobe Inc. (ADBE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
3 Stocks to Buy From the Promising Concrete & Aggregates Industry
Federal infrastructure spending and improving the residential market should help the Zacks Building Products - Concrete & Aggregates industry players like VMC, EXP and SUM. An uptick in spending on infrastructure and public construction is set to continue driving growth in the Zacks Building Products - Concrete & Aggregates industry. The industry is also poised to benefit from improvements in the residential construction market and advantageous pricing dynamics amid difficult conditions. While uncertainties in the macroeconomic landscape, weather-related issues, and increased labor costs pose challenges, companies like Vulcan Materials Company VMC, Eagle Materials Inc. EXP, and Summit Materials, Inc. SUM have been leveraging these favorable trends to their advantage.Industry DescriptionThe Zacks Building Products - Concrete & Aggregates industry consists of manufacturers, distributors and sellers of construction materials like aggregates and concrete along with other related items for public infrastructure, residential and non-residential, as well as other end markets. The materials also include gypsum wallboard, recycled paperboard, concrete blocks, ready-mix concrete, and oil and gas proppants. The industry players are also involved in designing, engineering, manufacturing, marketing, and installation of external building products for commercial, residential, and repair and remodel markets in domestic as well as international markets.3 Trends Shaping the Future of Concrete & Aggregates IndustryFocus on Reviving Infrastructure: The Infrastructure Investment and Jobs Act, the Creating Helpful Incentives to Produce Semiconductors and Science Act, and the Inflation Reduction Act collectively signify a substantial commitment to bolstering American competitiveness. These three enacted laws are aimed at revitalizing American infrastructure, expediting the shift toward a sustainable economy, and fortifying the domestic semiconductor sector. These bills comprise new investments in almost every infrastructure sector, including transportation, energy, broadband and water. The U.S. administration’s endeavor to pump money for rebuilding the nation's roads, bridges and other infrastructure would give construction companies a solid foundation for growth.Acquisitions & Focus on Operating Efficiency: The industry participants follow a well-chalked-out acquisition plan to enhance domestic and international portfolios. Moreover, companies are increasingly focusing on reducing controllable costs and maximizing operating efficiency across business lines to generate higher earnings and cash flows. The industry players have also been experiencing a solid pricing environment across their product portfolios, thereby helping to boost margins.Fluctuation in Input Prices, Weather Woes & Shortage of Skilled Labors: The industry players are struggling with escalating material expenses, the shortage of skilled laborers and rising wage costs. The companies use electricity, diesel fuel, liquid asphalt and other petroleum-based resources. Hence, supply-related woes and significant fluctuations in the prices of these resources affect operating results. Also, businesses are exposed to weather-related risks affecting production schedules and profitability. Excessive rainfall, flooding or severe droughts jeopardize shipments and production. The first and fourth quarters are mostly affected by winter. Again, hurricanes in the Atlantic Ocean and Gulf Coast are most active during these quarters. These impediments may bump up costs and mar the industry participants’ profits.Zacks Industry Rank Indicates Bright ProspectsThe Zacks Building Products - Concrete & Aggregates industry is a nine-stock group within the broader Zacks Construction sector. The industry currently carries a Zacks Industry Rank #46, which places it in the top 18% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates impressive near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a higher earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group’s earnings growth potential. Since December 2023, the industry’s earnings estimates for 2024 have increased to $2.47 per share from $2.37.Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.Industry Outperforms S&P 500 & SectorThe Zacks Building Products - Concrete & Aggregates industry has outperformed the Zacks S&P 500 Composite and the broader Zacks Construction sector over the past year.Stocks in this industry have collectively gained 71.8% versus the broader sector’s rise of 53.7% over the past year. Meanwhile, the S&P 500 has gained 29.3% in the same period.One-Year Price PerformanceIndustry's Current ValuationOn the basis of the forward 12-month price to earnings, which is a commonly used multiple for valuing Building Products - Concrete & Aggregates stocks, the industry is currently trading at 20.8X versus the S&P 500’s 20.9X and the sector’s 17.8X.Over the past five years, the industry has traded as high as 24.8X, as low as 14X and at a median of 19.6X, as the chart below shows.Industry’s P/E Ratio (Forward 12-Month) Versus S&P 5003 Concrete & Aggregates Stocks to Buy NowBelow, we have discussed three stocks from the Zacks Concrete & Aggregates universe that have solid growth potential. The chosen companies currently carry a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Summit Materials: Based in Denver, CO, this is a construction material company. Summit Materials has been witnessing solid pricing growth across all lines of business and expects the trend to continue in 2024. The company has also been optimizing its portfolio as it intends to shift toward a more materials-led portfolio. Meanwhile, the company remains optimistic as it believes public markets are poised to experience robust and durable growth driven by well-funded state budgets and infrastructure funding. A solid state Department of Transportation budget flow will aid the company, which has been receiving more contracts associated with highways and related works.Summit Materials currently sports a Zacks Rank #1. The company’s shares have gained 52.2% in the past year. Earnings estimates for 2024 have increased to $2.42 per share from $2.09 over the past 30 days. This depicts analysts’ optimism over the company’s prospects. Also, earnings for 2024 are expected to rise 53.2%. It also has a favorable VGM Score of B, making it a potentially interesting investment opportunity.Price and Consensus: SUMEagle Materials: This Dallas, TX-based company produces and supplies heavy construction materials, light building materials and materials used for oil and natural gas extraction in the United States. Higher demand for wallboard and cement, strong homebuyer demand, increasing infrastructure awards and significant investment in domestic manufacturing facilities are aiding the company’s growth. These tailwinds have been offsetting higher rates. Higher pricing is also adding to the positives. The company remains well-positioned courtesy of its broad geographic footprint, population-growth trends, shortages of residential units, and higher state-level infrastructure spending owing to a multi-year federal highway bill.Eagle Materials currently carries a Zacks Rank #2. Shares have surged 84.4% in the past year. Also, fiscal 2024 earnings estimates have increased to $14.26 per share from $14.08, over the past 60 days. Earnings for fiscal 2024 are expected to grow 13.8%. It also has a favorable VGM Score of B.Price and Consensus: EXPVulcan Materials Company: This Birmingham, AL-based company produces and supplies construction aggregates, asphalt mix as well as ready-mixed concrete. The company’s focus on four strategic initiatives — Commercial Excellence, Operational Excellence, Strategic Sourcing, and Logistics Innovation — should enhance price performance and operating efficiencies. Vulcan Materials has been generating higher earnings on the back of prudent cost-control efforts and increased pricing in aggregates. Its focus on a systematic inorganic strategy for expansion is adding to the positives. Overall, improving residential and private non-residential construction, large industrial project demand, solid infrastructure investment and favorable pricing dynamics should drive growth.Vulcan currently carries a Zacks Rank #2. Shares of the company have rallied 63.4% in the past year. Earnings estimates for 2024 have increased to $8.28 per share from $7.92 over the past 30 days. Also, earnings for 2024 are expected to rise 18.3%. It has a three-to-five-year expected EPS growth rate of 16.4%. It also has a favorable VGM Score of B.Price and Consensus: VMC Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 report Vulcan Materials Company (VMC): Free Stock Analysis Report Eagle Materials Inc (EXP): Free Stock Analysis Report Summit Materials, Inc. (SUM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
AlTi Global, Inc. (NASDAQ:ALTI) Q4 2023 Earnings Call Transcript
AlTi Global, Inc. (NASDAQ:ALTI) Q4 2023 Earnings Call Transcript March 15, 2024 AlTi Global, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good afternoon. My name is Boah and I will be your conference operator for today. At this […] AlTi Global, Inc. (NASDAQ:ALTI) Q4 2023 Earnings Call Transcript March 15, 2024 AlTi Global, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good afternoon. My name is Boah and I will be your conference operator for today. At this time, I would like to welcome everyone to AlTi’s Fourth Quarter and Full Year 2023 Earnings Conference Call. During the call, your lines will remain in a listen-only mode. After the speaker’s remarks, there will be a question-and-answer session. I’d like to advise all parties that this conference call is being recorded and a replay of the webcast is available on AlTi’s Investor Relations website. Now, at this time, I’ll turn things over to Lily Arteaga, Head of Investor Relations for AlTi. Please go ahead, ma’am. Lily Arteaga: Good afternoon to everyone on the call today. Joining me this afternoon are Michael Tiedemann, our CEO; and Stephen Yarad, our CFO. We invite you to visit the Investor Relations section of our website at www.alti-global.com to view our earnings materials, including our updated investor presentation. I would like to remind everyone that certain statements made during the call may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as anticipate, believe, continue, estimate, expect, future, intend, may, plan, and will, or similar words. Because these forward-looking statements involve both known and unknown risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. AlTi assumes no obligation or responsibility to update any forward-looking statements. During this call, some comments may include references to non-GAAP financial measures. Full reconciliations can be found in our earnings presentations and our related SEC filings. As I mentioned, we filed an updated investor presentation earlier today. With that, I’d like to turn the call over to Mike. Michael Tiedemann: Thank you, Lily. Good afternoon, everyone, and thank you for joining us today for our fourth quarter and full year 2023 earnings call. 2023 was a pivotal year for the AlTi team. In January of last year, we completed our business combination, which brought three companies together and culminated in our listing as a public company. Concurrent with the closing, we secured a $250 million credit facility and in the second quarter we increased our share liquidity and float through the registration of the PIPE shares as well as the successful completion of a warrant exchange. We also conducted a comprehensive strategic review of the newly combined operating structure. Through that process, we identified and actioned $16 million in annualized run rate cost savings initiatives. We expect that these cost savings will be fully realized in our Q3 2024 results. As a firm, we completed key transactions across both of our business segments, Wealth Management and Strategic Alternatives. This included expanding our footprint in key markets like Singapore and Northern Italy, and increasing our stake in managers of uncorrelated alternative strategies, which have continuously outperform their benchmarks. A few weeks ago we announced a strategic investment from Allianz X and Constellation Wealth Capital or CWC. Upon closing, this transaction will provide AlTi with up to $450 million to execute on our strategic priorities. We have a robust, actionable, M&A pipeline, and believe these relationships will lead to significant momentum. See also 25 Countries with the Least Access to Safe Drinking Water and 15 States with the Highest Homeless Population in the US. Q&A Session Follow Altair Nanotechnologies Inc (OTCMKTS:ALTI) Follow Altair Nanotechnologies Inc (OTCMKTS:ALTI) or Subscribe with Google We may use your email to send marketing emails about our services. Click here to read our privacy policy. We have a clear path to organic growth through new client wins, given the expanded depth of resources, network, and talent, which these partners bring. I’ll expand more on this transaction after we review our operational and financial results. In 2023, we grew our total assets under management and advisement by 10%, mostly driven by portfolio performance and organic client growth in Wealth Management. Total assets in that business segment grew by nearly 20% in the year. In the fourth quarter, AlTi generated revenues of $92 million and for the full year, we recorded revenues of $251 million. Notably, 77% of revenues in the year were recurring for management and advisory fees. The fourth quarter reflected incentive fees primarily from the robust performance of the event-driven strategy in our Strategic Alternatives segment. Despite these strong topline results, our GAAP results were impacted primarily by decisions taken to restructure or exit unprofitable transaction-oriented businesses in our Strategic Alternatives segment. Consequently, we reported loss of $319 million for the full year of 2023. We do not anticipate further significant impairments in 2024 as much of the work to streamline non-core operations is behind us, and our focus is to further invest in core operations that demonstrate strong recurring revenue fundamentals. Normalized for one-off items, our adjusted net loss was $8 million for the year. Quarter-over-quarter adjusted EBITDA improved $13 million to $10 million for the fourth quarter and for the full year adjusted EBITDA was $29 million. We believe our performance in the fourth quarter demonstrates the power of our diversified platform across Wealth Management and Strategic Alternatives. In Wealth Management, we had a record year of growth in the U.S., driven by market performance where we had a risk on bias given our view that the U.S. would achieve an economic soft landing, as well as organic asset growth resulting from a combination of our business development efforts and asset increases from our existing clients. Internationally, the Wealth Segment benefited from the integration of the legacy businesses as well as the Singapore acquisition and the increased stake in the Lugano-based multi-family office. As anticipated, our Strategic Alternatives segment generated robust incentive fees in the fourth quarter, resulting from the strong performance of the event-driven strategy, which is up 5.4% in the quarter and 10.5% for the year. This marked the 30th consecutive year of positive performance for the strategy, a remarkable achievement. This healthy performance not only benefits 2023 results, but also creates positive momentum for fundraising in 2024. We are encouraged by indications of investor interest in the event-driven strategy as well as our Asia credit strategy. Our credit strategy is gaining traction because of its strong relative performance compared to the Asia High Yield Index, initial expectations of a recovery in that region, and the growing depth of the Asia credit markets. Additionally, after several quarters of abated activity in real estate given the rising rate environment, I’m very pleased to report that our private real estate team arranged the purchase of the GlaxoSmithKline Corporate Headquarters in London by an investor group, which will be an important restoration and repurposing project. For our role in structuring the deal, we are on the origination fee in the quarter and importantly, we will receive recurring management fees going forward. To summarize, last year we achieved several operational milestones as the year was centered on inward strategic initiatives. This included the integration of our legacy businesses, reinforcing our focus on recurring revenues, streamlining entities, improving core operations, and establishing best practices throughout the organization. With those initiatives taking hold in 2024, our focus will be on external action. We are confident that our solid foundations will enable us to accelerate momentum through profitable organic and inorganic growth globally across both of our segments. Another key priority this year will be raising AlTi’s profile in the capital markets. This will include evaluating opportunities to increase our floats, driving investor community interests and ultimately attracting long-term institutional investors. To that end, we were pleased to recently announce a strategic relationship with Allianz X and CWC, a transformative transaction for AlTi. These investments, which totaled up to $450 million will support our strategy to become the leading global independent multi-family office for the ultra-high net worth segment with a targeted expertise in Alternatives. Importantly, the relationships enable AlTi to establish long-term partnerships with experienced and well-respected players in the global financial services sector. We believe we can expand and fortify AlTi’s global footprint in key markets and execute on strategic acquisitions through disciplined deployment of this gross capital. We plan to deepen AlTi’s reach and expand within our current markets. We also seek to enter new markets in the United States, Europe, and Asia where we can grow our client base as well as enhance our service offering to existing clients across multiple jurisdictions. As a global operation with local presence across 21 financial centers, AlTi is uniquely positioned to serve single-family offices. Our platform provides significant benefits to the investment and administrative teams, who serve large families by enabling them to leverage our global infrastructure, scale, resources, deal flow, while significantly reducing overall costs. These benefits will only be enhanced by the partnerships with Allianz and Constellation. Additionally, we will capitalize on our organic growth initiatives. There is a clear opportunity to expand revenue and lead generation opportunities across a larger and more globally diverse client base. AlTi can expand its tailored solution set through the co-investment opportunities across alternatives, impact investment strategies, and when appropriate, partnering with Allianz to structure bespoke solutions. Finally, accretive M&A will be fundamental to our go-forward strategy. We anticipate future transaction will be a significant driver of topline growth and margin expansion, as we build off the existing platform. As I mentioned, we’ve identified a robust M&A pipeline. This infusion of growth capital positions us to continue our track record of attractive, profitable deals across both Alternatives and Wealth......»»
20 Most Overweight States in the US
In this article, we will be taking a look at the 20 most overweight states in the US. If you do not wish to learn about the global obesity market, head straight to the 5 Most Overweight States in the US. In the United States, the issue of obesity remains a significant public health concern, […] In this article, we will be taking a look at the 20 most overweight states in the US. If you do not wish to learn about the global obesity market, head straight to the 5 Most Overweight States in the US. In the United States, the issue of obesity remains a significant public health concern, with certain states grappling more prominently with this challenge than others. Examining the prevalence of overweight individuals across the nation sheds light on regional disparities and factors influencing lifestyle choices, diet, and access to healthcare. Through statistical analysis and sociodemographic insights, we can gain a deeper understanding of the most overweight states in the U.S. like Kentucky, Alabama, West Virginia, and Texas, among others, highlighting the complex interplay of environmental, economic, and cultural factors shaping this pressing issue. Overview of the Obesity Market and Statistics in the US In the United States, the market for obesity drugs is anticipated to soar to $77 billion by 2030, driven by a rising demand for innovative treatments and favorable reimbursement policies. J.P. Morgan Research forecasts the GLP-1 market to surpass $100 billion by 2030, primarily fueled by its usage in managing diabetes and obesity. Within this global growth trajectory, the US obesity market holds a significant share. This surge in demand can be attributed to heightened awareness among physicians about the benefits of obesity treatment in averting associated health complications such as heart disease. Moreover, approximately 110 million adults in the US are estimated to grapple with obesity, with around 40 million individuals having access to obesity medications through insurance plans. While the US grapples with its obesity epidemic, regional differences and high-risk areas within the country underscore the need for targeted interventions. In the Asia-Pacific region, significant potential exists for businesses operating in the obesity treatment market, owing to factors such as rising disposable incomes and enhanced healthcare infrastructure. Identifying high-risk areas for overweight populations becomes imperative for tailoring effective public health strategies and interventions. Addressing the Obesity Epidemic: Rethinking Urban Design for Healthier Communities In the ongoing issue surrounding urban development and public health, there’s a growing recognition of the pressing need to tackle the surging rates of obesity in the United States. With a staggering one-third of American adults falling into the overweight category and over 40% classified as obese, it’s clear that our cities’ layouts demand a thorough reassessment. A troubling revelation emerges when we consider that twelve of the 30 cities globally recognized for their high rates of overweight and obesity are located within the United States, with one American city even ranking in the top five. These statistics underscore a critical imperative to examine how the built environment impacts physical well-being. Defined by the World Health Organization (WHO) as having a body mass index (BMI) exceeding 25, obesity presents significant health risks linked to excessive fat accumulation. These risks extend far beyond physical ailments such as hypertension, coronary heart disease, and type 2 diabetes, also encompassing mental health struggles like depression and anxiety. The fundamental cause of obesity frequently stems from an imbalance between caloric intake and expenditure. Fast food consumption notably contributes to this disparity, driving up calorie consumption on a global scale. In the United States, the economic toll of obesity is staggering, ranging from $147 billion to $210 billion annually in medical costs alone, with additional losses in productivity weighing heavily on the economy. Looking ahead, projections paint a bleak picture if current obesity trends persist. The National Institute of Health cautions that by 2050, the obesity rate in America could reach an unprecedented 100%, posing unprecedented challenges to public health and economic stability. However, within these challenges lies an opportunity for intervention. The burgeoning weight-loss drug industry, projected to reach a value of $200 billion within the next decade, presents a substantial market for pharmaceutical giants like Novo Nordisk A/S and Eli Lilly and Company. Novo Nordisk A/S (NYSE:NVO) is a global healthcare leader pioneering innovative treatments for obesity. Their semaglutide-based medications like Ozempic, Wegovy, and Rybelsus have shown significant efficacy in weight loss and managing obesity-related complications. Novo Nordisk A/S (NYSE:NVO)’s oral semaglutide pill, with a 15% weight loss in trials, offers a convenient alternative to injections. With a focus on developing accessible obesity treatments, Novo Nordisk A/S (NYSE:NVO)’s research into GLP-1 hormone for weight loss holds promise. Financially, in Q4 2023, the company saw a 31% sales growth in Danish kroner and a revenue of $9,584 million, marking a 37.0% year-over-year increase. Notable achievements include the SELECT cardiovascular outcomes trial, where semaglutide 2.4 mg demonstrated a 20% reduction in major adverse cardiovascular events for adults with overweight or obesity. Eli Lilly and Company (NYSE:LLY) is a leading player in the fight against obesity, with innovative drugs like Mounjaro (tirzepatide) and Zepbound. Tirzepatide achieved up to 15.7% weight loss in trials, demonstrating its effectiveness. In Q4 2023, Eli Lilly and Company (NYSE:LLY) saw a 28% revenue increase to $9.35 billion, driven by anti-obesity drugs, with “New Products” revenue soaring by 219% to $2.49 billion. Mounjaro’s revenue surged to $2.21 billion, and Zepbound generated $175.8 million in its initial quarter. Looking ahead, Eli Lilly and Company (NYSE:LLY) forecasts revenue of $40.4 billion to $41.6 billion for 2024, reflecting confidence in the anti-obesity market. Ongoing clinical trials like SYNERGY-NASH underscore the company’s commitment to addressing various health challenges beyond obesity. Copyright: ximagination / 123RF Stock Photo Our Methodology For our methodology, we have ranked the most overweight states in the US based on their obesity rates as of 2022. For the accuracy of data, we relied on the State of Childhood Obesity. Here is our list of the 20 most overweight states in the US. 20. Michigan Obesity Rate: 34.4% Michigan, one of the most overweight states in the US, faces significant challenges with obesity, with 35.0% of adults classified as overweight and an additional 32.5% as obese. Obesity is linked to various health issues such as diabetes, hypertension, heart disease, cancer, and mental health disorders. While both genders are affected, women tend to have slightly higher obesity rates. The economic burden is substantial, with obesity-related medical expenses estimated at $147 billion in the US in 2008. Efforts to combat obesity include initiatives like the Michigan Health and Wellness 4 x 4 Plan, aiming to promote healthier behaviors and improve overall health outcomes across communities. 19. New Mexico Obesity Rate: 34.6% New Mexico has witnessed a concerning increase in adult obesity rates, rising from 26% to 31% over the past decade, exceeding the national average. Certain groups, including American Indians, Hispanics, and those with lower education levels or experiencing poverty, are disproportionately affected. Factors contributing to obesity include smoking, alcohol use, and inadequate physical activity. Gender disparities show higher obesity rates among adults aged 35 to 49 and 50 to 64. 18. Tennessee Obesity Rate: 35% Tennessee faces a significant challenge with obesity, making Tennessee stand among the top obese states in America. Factors contributing to this include excessive calorie intake, inadequate physical activity, parent obesity, genetics, and socioeconomic factors. Boys have higher obesity rates compared to girls, and white children have higher rates compared to Black children and children of other races. The economic burden is substantial, with estimated medical expenditures attributed to adult obesity in Tennessee reaching $1,840 million between 1998-2000. 17. North Dakota Obesity Rate: 35.2% North Dakota’s obesity rate stands at 35.2% in 2021, slightly above the national average. Factors contributing to this include dietary habits, sedentary lifestyles, and genetic predisposition. Adults aged 65 and older have higher obesity rates, with healthcare costs approximately $2,000 higher per year for individuals with obesity. 16. Nebraska Obesity Rate: 35.9% Nebraska ranks 16th in overall obesity prevalence with 31.5% of children and 1 in 3 adults considered obese. Nearly 30% of youth aged 10-17 are overweight or obese. Common reasons include poor dietary habits, with low fruit and vegetable consumption, and lack of physical activity, as evidenced by 24.2% of adults reporting no recent physical activity. Obesity is linked to chronic diseases like coronary heart disease, stroke, diabetes, and cancer, as well as high blood pressure and type 2 diabetes. 15. North Carolina Obesity Rate: 36% North Carolina stands among the top obese states in America. Among adolescents, 15.2% are overweight and 12.5% have obesity. Additionally, 33.5% of children in the state are overweight or obese, ranking 15th in prevalence. 14. Kansas Obesity Rate: 36% Kansas faces significant challenges with obesity, ranking 14th in adult obesity prevalence at 36%. Socioeconomic factors, limited access to healthy food, and lack of nutrition education contribute to high obesity rates. Kansas also has elevated rates of diabetes, particularly impacting healthcare costs. Women in Kansas have a higher prevalence of obesity compared to men. 13. Texas Obesity Rate: 36.1% Texas has one of the highest obesity rates. Obesity prevalence is notably high among adults of various racial backgrounds. Over 30% of adults reported inadequate sleep, while nearly 90% did not meet fruit and vegetable intake recommendations. Obesity is associated with rising diabetes cases and anticipated increases in hypertension, heart disease, and obesity-related cancers by 2030, emphasizing the urgent need for interventions. 12. South Carolina Obesity Rate: 36.1% South Carolina stands among twelfth among the most overweight states in the US, driven by poor nutrition and lack of physical activity. Many adults and adolescents consume inadequate levels of fruits and vegetables, while a concerning number of adults lead sedentary lifestyles. The economic burden of adult obesity in South Carolina exceeds $7 billion annually in medical care costs. Additionally, obesity rates vary among racial and ethnic groups, with disparities observed particularly among Blacks compared to Latinos and Whites. 11. Indiana Obesity Rate: 36.3% Indiana struggles with high obesity rates among both adults and children. About 27.2% of adults report no recent physical activity, with 29.6% classified as obese. Additionally, 29.9% of children are overweight or obese. Contributing factors include environmental influences, genetics, and unhealthy behaviors like poor diet and physical inactivity Gender disparities exist, with significant increases in obesity rates among both males and females, particularly among Hispanics. 10. Iowa Obesity Rate: 36.4% Iowa ranks among the top 20 states in the nation for high obesity rates. In 2012, 65.4% of adults were overweight, with 28.4% classified as obese. Obesity prevalence is higher among adults aged 45-64 compared to those aged 65 and older. Unhealthy dietary behaviors and limited physical activity options contribute to Iowa’s obesity issue, exacerbated by a lack of access to healthy food choices and opportunities for exercise. 9. Ohio Obesity Rate: 37.7% Ohio has high obesity rates, with 65.0% classified as overweight (BMI of 25 or greater) and 29.2% classified as obese (BMI of 30 or greater). Factors contributing to obesity include age-dependent trends, policy-relevant factors such as gender, race, and income, and community characteristics. Individuals with obesity face increased complications, including from conditions like COVID-19. Alarmingly, chronic diseases like type 2 diabetes are on the rise. 8. South Dakota Obesity Rate: 38.4% South Dakota stands eighth among the most overweight states in the US, affecting both adults and children. Among adults, 35.4% were overweight, while children in various age groups also showed concerning rates of overweight and obesity. Excess calorie intake and insufficient physical activity play roles in the state’s obesity issue. Addressing these factors is crucial to combating obesity in South Dakota. 7. Louisiana Obesity Rate: 38.6% Louisiana ranks among the most obese states in the US with nearly half of its population classified as obese. Factors contributing to this include limited access to healthy food options, sedentary lifestyles, and socioeconomic barriers to health resources. The prevalence of obesity is concerning due to its association with chronic diseases like heart disease, stroke, diabetes, and cancer, posing significant public health and economic burdens. 6. Arkansas Obesity Rate: 38.7% Arkansas ranks sixth among the most overweight states in the US with adult obesity rates ranging from 37.4% to 38.7%. Obesity is linked to various health issues in Arkansas, including type II diabetes, hypertension, heart disease, and stroke. While both genders are affected, women tend to experience slightly higher rates of obesity compared to men in the state. Click to see and continue reading the 5 Most Overweight States in the US. 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Here"s Why You Should Buy Insulet (PODD) Stock Right Now
Investors remain confident in the Insulet (PODD) stock due to the huge success of Omnipod 5. Insulet Corporation PODD is well-poised to gain in the coming quarters, backed by the strength of its revolutionary Omnipod 5 Automated Insulin Delivery (“AID”) system. The continued market expansion of Omnipod DASH is also highly encouraging. Strong solvency is an added upside. Meanwhile, the company’s sole dependency on the Omnipod system and intense competitive pressure remain concerns for its operations. In the past year, this Zacks Rank #2 (Buy) stock has decreased 47.9% against the 6.6% rise of the industry and 29.3% growth of the S&P 500 composite.The developer, manufacturer and distributor of insulin delivery systems has a market capitalization of $11.60 billion. Insulet projects a long-term estimated earnings growth rate of 18.1% compared with 11.4% of the industry. PODD’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 100.09%.Let’s delve deeper.UpsidesOmnipod DASH’s Market Access Expansion Continues:The company launched the Omnipod DASH system in the United States in 2019. In 2020, PODD made the full commercial rollout of Omnipod DASH in Europe, and Insulet launched the system in Australia and Turkey in late 2021. Further, the Omnipod DASH was launched in the United Arab Emirates and Saudi Arabia markets in 2022. With this launch, the Omnipod is currently available in 24 countries.Image Source: Zacks Investment ResearchOmnipod DASH continues to be the leading insulin pump offer with an indication for use in the Type 2 market. While the company is yet to progress with Omnipod 5 AID in the Type 2 market, the underlying demand for Omnipod DASH in the Type 2 market is encouraging. In the fourth quarter of 2023, Type 2 diabetes patients represented between 20% and 25% of Insulet’s U.S. new customer starts.Omnipod 5, a New Focus: Insulet believes Omnipod 5 will be a game-changer for people living with diabetes. The company is actively working to expand the reach of Omnipod 5 to preschoolers. Omnipod 5 remains a disruptive force in the diabetes technology market as the only FDA-approved, fully disposable, pod-based AID system.Further, Omnipod 5 is a key driver of the robust U.S. growth. In the fourth quarter of 2023, U.S. new customer starts coming from multiple daily injections and legacy tubed pumps were an estimated 80-20 percent split, which was in line with the company’s historical mix. Meanwhile, the company commercially launched Omnipod 5 in the United Kingdom and Germany and continues to attract substantial new customer starts across all age groups.Strong Solvency but Leveraged Balance Sheet: Insulet exited the fourth quarter of 2023 with cash and cash equivalents of $704 million and short-term payable debt of $49 million. This suggests strong solvency. The long-term debt was $1.37 billion in the period, marginally in line with the figure at the end of 2022. The quarter’s total debt-to-capital was 65.9%, a decrease from 74.6% at the end of 2022.DownsidesTough Competitive Pressure: Insulet operates in a highly competitive environment dominated by firms ranging from large multinational corporations with significant resources to start-ups. Also, the competitive and regulatory conditions in the markets where the company operates limit Insulet’s ability to switch to strategies like price increases and other drivers of cost increases.The company’s Omnipod System primarily competes with Medtronic’s market-leading MiniMed, a division of Medtronic. MiniMed boasts a major part of the conventional insulin pump market share in the United States.Sole Reliance on the Omnipod System: Insulet’s financial results continue to largely depend on the performance of its lead product — the Omnipod System. Per the company, any adverse changes in the market acceptance of the product or worsening of the factors that negatively influence the sale will dent the company’s financials majorly.Estimate TrendThe Zacks Consensus Estimate for Insulet’s 2024 earnings per share (EPS) has moved up from $2.54 to $3.08 in the past 30 days.The Zacks Consensus Estimate for the company’s 2024 revenues is pegged at $1.96 billion. This suggests a 15.7% rise from the year-ago reported number.Other Key PicksSome other top-ranked stocks in the broader medical space are Cardinal Health CAH, Stryker SYK and DaVita DVA.Cardinal Health has a long-term estimated earnings growth rate of 14.2% compared with the industry’s 11.6%. CAH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 15.6%. Its shares have increased 55.5% compared with the industry’s 15.6% rise in the past year.CAH carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Stryker, carrying a Zacks Rank #2 at present, has an earnings yield of 3.37% compared to the industry’s 0.01%. Shares of the company have increased 27.2% compared with the industry’s 6.6% rise over the past year.SYK’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 5.09%. In the last reported quarter, it delivered an average earnings surprise of 5.81%.DaVita, sporting a Zacks Rank #1 at present, has an estimated long-term earnings growth rate of 12.1% compared with the industry’s 11.9%. Shares of DVA have rallied 75.3% compared with the industry’s 23.8% rise over the past year.DVA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 35.6%. In the last reported quarter, it delivered an average earnings surprise of 22.2%. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 report Stryker Corporation (SYK): Free Stock Analysis Report DaVita Inc. (DVA): Free Stock Analysis Report Cardinal Health, Inc. (CAH): Free Stock Analysis Report Insulet Corporation (PODD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
BP Explores Trinidad-Venezuela Gas Field Project Partnership
BP is in talks for a cross-border collaboration to explore gas field development from Trinidad to Venezuela, highlighting potential economic and geopolitical implications. BP plc BP and the governments of Venezuela and Trinidad and Tobago have entered discussions aimed at the development of a shared offshore gas field situated in the Caribbean, per a Reuters report. This collaboration marks a significant step toward bolstering natural gas production in the region.BP's interest in expanding its natural gas output in Trinidad aims to support the operations of the local Atlantic LNG export facility. Over the past five years, the company’s gas production has experienced a notable decline, dropping nearly 1 billion cubic feet per day. This decline highlights the urgency for strategic partnerships and new developments to revitalize the sector.Operational constraints have plagued the Atlantic LNG facility, with reduced gas output from the island's offshore fields leading to underutilization. Despite boasting a nameplate capacity of 15 million tons of liquefied gas annually across four trains, the facility has been operating below capacity. The idling of its first train since 2020 has further exacerbated production challenges, with the facility producing just 8.2 million tons last year.According to Reuters, BP acknowledged its engagement with the governments of Trinidad and Tobago and the Bolivarian Republic of Venezuela regarding the potential development of gas resources in the Manakin-Cocuina field. This joint effort aligns with efforts to leverage the shared resources and foster regional cooperation.The Manakin-Cocuina field, spanning across both sides of the countries' borders and estimated to hold just over 1 trillion cubic feet of natural gas, presents a promising opportunity for energy collaboration. Despite previous challenges, including stalled talks due to U.S. sanctions against Venezuela, the easing of these sanctions has reignited the momentum for cooperation and development in the energy sector.Venezuela's state-run oil company, PDVSA, expressed its contemplation of issuing licenses for exploring and developing non-associated gas within its jurisdiction of the shared field. This move signifies a commitment to harnessing the untapped potential of the region's natural gas reserves.Zacks Rank & Key PicksBP currently carries a Zack Rank #3 (Hold).Some better-ranked stocks in the energy sector are Sunoco LP SUN, Murphy USA Inc. MUSA and Energy Transfer LP ET, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow. The Zacks Consensus Estimate for SUN’s 2024 earnings per share (EPS) is pegged at $4.87. The stock has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.Murphy USA is a leading independent retailer of motor fuel and convenience merchandise in the United States.The Zacks Consensus Estimate for MUSA’s 2024 EPS is pegged at $25.58. The company has a Zacks Style Score of B for Growth and B for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.Energy Transfer is a publicly traded limited partnership, focused on diverse energy assets in the United States. The company’s core operations involve natural gas midstream services, transportation, storage, crude oil facilities and marketing assets.The Zacks Consensus Estimate for ET’s 2024 earnings per unit is pegged at $1.44. The company has witnessed upward earnings estimate revisions for 2024 in the past 30 days. ET’s 2024 earnings are expected to rise 32.1% year over year. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 report BP p.l.c. (BP): Free Stock Analysis Report Sunoco LP (SUN): Free Stock Analysis Report Murphy USA Inc. (MUSA): Free Stock Analysis Report Energy Transfer LP (ET): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Top 3 Financial Stocks That May Explode This Quarter
The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies. read more.....»»
What to Do If You’ve Been Scammed
If you are scammed out of money, it's important to act quickly and inform the relevant authorities. When Ian Mitchell, a fraud specialist with 25 years’ experience, wanted to buy a car, he found himself browsing a familiar-looking auto website. But when he asked a seller if he could view one of the cars in person, “they came up with every excuse in the world [about] why I couldn’t see the vehicle,” Mitchell says. Mitchell realized that he was on a fake website, and he reported it to the company whose name was being misused as well as to local law enforcement. “I did my best to try to prevent them from abusing someone else,” he says. [time-brightcove not-tgx=”true”] Mitchell, who is co-founder of fraud services company Mission Omega and founder of crime prevention network The Knoble, did not part with any money. But many aren’t so lucky: consumers in the U.S. lost $10 billion to scams in 2023, according to the Federal Trade Commission. That’s a $1 billion increase on the year prior. Imposter scams—in which someone pretends to be a friend or relative who needs money, claims to be from your bank’s fraud department or says they are a technical support operative needing access to your computer—are the most common, according to the FTC. Read More: Why Gen Z Is Surprisingly Susceptible to Financial Scams Perpetrators focus on people’s vulnerabilities, Mitchell says. “Whether it’s a desire for love, or greed, or need, they prey on that.” Scams have also become more sophisticated, he adds. “You might get an email or a text that really looks legitimate, and it looks like it’s catered to you—because it is.” Been scammed? Here’s what to do Act immediately if you suspect you have sent money to a scammer, says Kimberly Palmer, a personal finance expert at financial resources site NerdWallet. “If you have shared any of your passwords, or information about your bank, change your passwords,” she says. “Contact your bank and tell them what happened because they’ll immediately put a hold on your account.” Next, report the scam to the FTC, Palmer says. You can do this via ReportFraud.ftc.gov. You should also report what happened to local law enforcement agencies and your state attorney general if you’ve sent money within the U.S. If you paid someone overseas, report the incident to the FBI, she advises. Read More: Why Crypto Scams Are Driving an Online Crime Boom — And How to Outsmart Them Palmer also recommends changing your bank account numbers, which your financial institution can help with. “It does take some effort on your part of course, because it means you have to update so much in your financial life, but it’s worth protecting your money.” Unfortunately, if you realize you’ve sent money directly from your bank account to a scammer, it can be very hard to recover the funds, according to Eva Velasquez, president and CEO of the Identity Theft Resource Center (ITRC), a non-profit that supports those who have been victim to scams. “If I wire money, that cash is gone. If I send this as a direct payment, a Zelle payment, a Venmo payment, that cash is gone,” Velasquez says. The Consumer Finance Protection Bureau’s Regulation E safeguards people from unauthorized electronic funds transfers from their bank accounts, but you won’t be covered if you’ve authorized a payment yourself. “There’s a lot of factors that go into the success of getting the money back and it’s not unheard of,” Velasquez says. “[But] the need for investigating where’s that money gone, far, far outweighs the resources that we have.” How to protect yourself from scams If someone contacts you claiming to be from an organization and asks for personal information or money, or sends an email or text asking you to click a link, check that they are who they claim to be, says Velasquez. Scammers can spoof email addresses and phone numbers to make it appear like they are legitimate. “Go to the source. If it’s your bank, hang up [and] call the number on the back of your card. If you have an online account, log in online and see if there’s any messages for you.” Scammers might already have personal information like your name and address, which they use to make you think they are genuine. “Don’t let that fool you,” Velasquez says. “Unfortunately, most of that information that they’re using is easily purchased on the dark web.” Read More: The Enduring Nightmare of Trafficked Scammers There are basic steps you can take to protect yourself, Palmer says. “You want to have really complex passwords on your accounts. And then you want to add two-step authentication to your financial accounts and even your social media accounts,” she says. She also warns against accessing online accounts while connected to public Wi-Fi because of the risk of having information stolen. When doing business with a company that’s new to you, such as a home builder or used car dealer, check whether it is accredited by the Better Business Bureau, Palmer says. The organization also has a Scam Tracker. It’s also good to talk about scams to friends and family, and not feel embarrassed if you’ve been taken in by one, says Mitchell. “We need to have these conversations so that the scammers don’t start from a little problem ballooning into [a situation] where they’re taking life savings.”.....»»
Stark racial inequities persist despite continued efforts to reduce maternal deaths
Despite years of state efforts to lower maternal deaths, Black mothers in New York are still dying at a much higher rate than white mothers, a newly released report shows.Black New Yorkers were five times more likely to die from pregnancy than white New Yorkers through 2020, the most recent statewide data available, according to a report released by the Department of Health on Thursday. The state recorded 121 pregnancy-related deaths between 2018 and 2020 — more than 70% of which were preventable, the review found.The new data comes from the state’s Maternal Mortality Review Board, a panel of experts established in 2019 to investigate pregnancy-related deaths outside of New York City and make recommendations to address the crisis. The city has its own committee to review such fatalities. Data released by these panels lags because of the review process — but the overall death rate is aligned with more recent 2021 numbers from the Centers for Disease Control and Prevention.Since the state first established oversight committees, there has been little success in closing racial gaps. State leaders and politicians have proposed policies and programs to offer additional resources to hospitals and increase access to doula care, but patients have yet to see the impacts of those initiatives.While racial disparities persist statewide, city numbers are even more stark. Black women in the city were nine times more likely to die in pregnancy as of 2020 — significantly higher than both the state and national gaps.Challenges in reducing disparities in pregnancy-related deaths are in part due to the multitude of factors that contribute to them. Dr. Wendy Wilcox, chief women’s health service officer at New York City Health + Hospitals said that deaths are largely due to overall declining health, as mothers today are older and have higher rates of comorbid conditions such as obesity and hypertension.But the maternal death rate goes beyond medical factors, she added. Research shows that the lives and health outcomes of Black women are impacted by racism, Wilcox said. “Why would this be any different?”Discrimination, including slower emergency medical services response for some communities, was a factor in nearly half of all deaths reported between 2018 and 2020, the data shows.“I’ve seen firsthand our maternal care system, so it’s not surprising to see that we have not made major gains,” Sen. Samra Brouk, who represents parts of Rochester and has advocated for reductions in maternal deaths, told Crain’s. She added that the state has started to implement new policies and funding streams over the past year that could start to make a difference.New data come as state and city leaders unveil new, ambitious plans to address the maternal health crisis. Gov. Kathy Hochul proposed a series of initiatives in January to improve the health of mothers and babies, including making New York the first state to offer a medical leave policy for expectant mothers and eliminating out-of-pocket costs for pregnancy care. A spokesperson from the governor’s office did not answer a question about how much such proposals would cost the state.Hochul’s proposal also took aim at unnecessary C-sections, which were linked to higher rates of death. Women who had a C-section made up two-thirds of pregnancy-related deaths in New York, although they represented a little over one-third of total births.State efforts have been compounded by city investments. New York City Mayor Eric Adams announced a $43 million initiative to address women’s health in December — including a plan to reduce maternal deaths among women of color by 10% before 2030.It remains to be seen not only whether the state's newly proposed programs will go into effect, but whether they’ll have a sizable impact. New York state is in the early stages of implementing a new Medicaid benefit to cover doulas, which are nonclinical providers that offer emotional and physical support during pregnancy and birth. The program started on March 1 but is awaiting approval from the federal government, said Danielle DeSouza, a spokeswoman for the Health Department. So far, 40 doulas are enrolled......»»
Escobar: Will BRICS Launch A New World Order In 2024?
Escobar: Will BRICS Launch A New World Order In 2024? Authored by Pepe Escobar via The Cradle, BRICS doubled its membership at the start of 2024, and faces huge tasks ahead: integrating its newest members, developing future admission criteria, deepening the institution's groundings, and most importantly, launching the mechanisms for bypassing the US dollar in international finance. Across the Global South, countries are lining up to join the multipolar BRICS and the Hegemon-free future it promises. The onslaught of interest has become an unavoidable theme of discussion during this crucial year of the Russian presidency of what, for the moment, is BRICS-10. Indonesia and Nigeria are among the top tiers of candidates likely to join. The same applies to Pakistan and Vietnam. Mexico is in a very complex bind: how to join without summoning the ire of the Hegemon. And then there's the new candidacy on a roll: Yemen, which enjoys plenty of support from Russia, China, and Iran. It's been up to Russia's top BRICS sherpa, the immensely capable Deputy Foreign Minister Sergey Ryabkov, to clarify what's ahead. He tells TASS: We must provide a platform for the countries interested in rapprochement with the BRICS, where they will be able to work practically without feeling left behind and joining this cooperation rhythm. And as to how the further expansion will be decided upon – this should be postponed at least until the leaders convene in Kazan to decide. The key decision on BRICS+ expansion will only come out of the Kazan summit next October. Ryabkov stresses that the order of the day is first "to integrate those who have just joined." This means that "as a 'ten,' we work at least as efficiently, or, rather, more efficiently than we did within the initial 'five.'" Only then will the BRICS-10 "develop the category of partner states," which, in fact, means creating a consensus-based list out of the dozens of nations that are literally itching to join the club. Ryabkov always makes a point to note, in public and in private, that the twofold increase of BRICS members starting on 1 January 2024 is "an unprecedented event for any international structure." It isn't an easy task, Ryabkov says: Last year, it took an entire year to develop the admission, expansion criteria at the level of top officials. Many reasonable things were developed. And many of the things that were formulated back then got reflected in the list of countries that joined. But it would probably be improper to formalize the requirements. At the end of the day, an admission to the association is a subject of political decision. What happens after Russia's presidential elections In a private meeting with a few select individuals on the sidelines of the recent multipolar conference in Moscow, Foreign Minister Sergei Lavrov spoke effusively of BRICS, with particular emphasis on his counterparts Wang Yi of China and S. Jaishankar of India. Lavrov holds great expectations for BRICS-10 this year – at the same time, reminding everyone that this is still a club; it must eventually go deeper in institutional terms, for instance, by appointing a secretariat-general, just like its cousin-style organization, the Shanghai Cooperation Organization (SCO). The Russian presidency will have its hands full for the next few months, not only navigating the geopolitical spectrum of current crises but, most of all, geoeconomics. A crucial ministerial meeting in June – only three months away – will have to define a detailed road map all the way to the Kazan summit four months later. What happens after this week's Russian presidential elections will also condition BRICS policy. A new Russian government will be sworn in only by early May. It is widely expected that there will be no substantial changes within the Russian Finance Ministry, Central Bank, Foreign Ministry, and among top Kremlin advisers. Continuity will be the norm. And that brings us to the key geoeconomics dossier: the BRICS at the forefront of bypassing the US dollar in international finance. Last week, top Kremlin adviser Yury Ushakov announced that BRICS will work towards setting up an independent payment system based on digital currencies and blockchain. Ushakov specifically emphasized "state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people, and businesses, as well as cost-effective and free of politics." Ushakov did not mention it explicitly, but a new alternative system already exists. For the moment, it is a closely, carefully guarded project in the form of a detailed white paper that has already been validated academically and also incorporates answers to possible frequently asked questions. The Cradle was briefed on the system via several meetings since last year with a small group of world-class fintech experts. The system has already been presented to Ushakov himself. As it stands, it is on the verge of receiving a final green light from the Russian government. After clearing a series of tests, the system in thesis would be ready to be presented to all BRICS-10 members before the Kazan summit. This all ties in with Ushakov publicly declaring that a specific task for 2024 is to increase the role of BRICS in the international monetary/ financial system. Ushakov recalls how, in the 2023 Johannesburg Declaration, the BRICS heads of state focused on increasing settlements in national currencies and strengthening correspondent banking networks. The target was to "continue to develop the Contingent Reserve Arrangement, primarily regarding the use of currencies different from the US dollar." No single currency for the foreseeable future All of the above frames the absolute key issue being currently discussed in Moscow, within the Russia–China partnership, and soon, deeper among the BRICS-10: alternative settlement payments to the US dollar, increased trade among "friendly nations," and controls on capital flight. Ryabkov added more crucial elements to the debate, saying this week that the BRICS are not debating the implementation of a single currency: As for a single currency, similar to what was created by the European Union, this is hardly possible in the foreseeable future. If we are talking about clearing forms of mutual settlements such as the ECU [European Currency Unit] at an early stage of development of the European Union, in the absence of a real means of payment, but the opportunity to more effectively use the available resources of the countries in mutual settlements to avoid losses due to differences in exchange rates, and so on, then this is precisely the path along which, in my opinion, BRICS should move. This is under consideration. The key takeaway, per Ryabkov, is that the BRICS should not create a financial and monetary alliance; they should create payment and settlement systems that do not depend upon the shifty "rules-based international order." That's exactly the emphasis of the ideas and experiments already developed by Minister of Integration and Macroeconomy at the Eurasia Economic Union (EAEU) Sergei Glazyev, as he explained in an exclusive interview, as well as the new groundbreaking project on the verge of being greenlighted by the Russian government. Ryabkov confirmed that "a group of experts, led by the Ministries of Finance and representatives of the Central Banks of the respective [BRICS] countries," is working nonstop on the dossier. Moreover, there are "consultations in other formats, including with the participation of representatives of the 'historical west.'" Ryabkov's own takeaway mirrors what the BRICS as a whole are aiming at: Collectively, we must come up with a product that would be, on the one hand, quite ambitious (because it is impossible to continue to tolerate the dictates of the west in this area), but at the same time realistic, not out of touch with the ground. That is, a product that would be efficient. And all this should be presented in Kazan for consideration by the leaders. In a nutshell: the big breakthrough may be literally knocking at the BRICS door. It just depends on a simple green light by the Russian government. Now compare the BRICS devising the contours of a new geoeconomics paradigm with the collective west mulling the actual theft of Russia's seized assets to the benefit of the black hole that is Ukraine. Apart from being a de facto declaration by the US and EU against Russia, this is something that carries the potential, in itself, of totally smashing the current global financial system. A theft of Russian assets, would it ever happen, will render livid, to put it mildly, at least two key BRICS members, China and Saudi Arabia, who bring to the table considerable economic heft. Such a move by the west would completely destroy the concept of the rule of law, which theoretically underpins the global financial system. The Russian response will be fierce. The Russian Central Bank could, in a flash, sue and confiscate the assets of Belgian Euroclear, one of the world's largest settlement and clearing systems, on whose accounts Russian reserves were frozen. And that on top of seizing Euroclear's assets in Russia – which amount to roughly 33 billion euros. With Euroclear running out of capital, the Belgian Central Bank will have to revoke its license, causing a massive financial crisis. Talk about a clash of paradigms: western robbery versus a Global South-based equitable trade and finance settlement system. Tyler Durden Sun, 03/17/2024 - 23:20.....»»
Textio confirms layoffs as company restructures
The Seattle-based company said the layoffs will "shift our skills and resources around where we’re seeing the most product growth.".....»»
Walmart aims to sell other businesses logistics software
Walmart said March 14 it has developed an artificial intelligence-powered, logistics-focused technology, Route Optimization, that created efficiencies and reduced emissions for the company, which has a global footprint. An executive says the company has "invested significant time, resources, and operational know-how into building solutions like Route Optimization, but that can be a barrier for many businesses.".....»»
25 Biggest Countries in Do Not Travel List
In this post, we list and discuss the 25 Biggest Countries in Do Not Travel List. If you would like to skip our detailed discussion of the topic, you can go directly to the 5 Biggest Countries in Do Not Travel List. Four years back, during COVID-19, the travel and tourism industry came to an […] In this post, we list and discuss the 25 Biggest Countries in Do Not Travel List. If you would like to skip our detailed discussion of the topic, you can go directly to the 5 Biggest Countries in Do Not Travel List. Four years back, during COVID-19, the travel and tourism industry came to an abrupt halt. However, it is now making a gradual return to its pre-pandemic heights. The UNWTO predicted the tourism industry to recover 90% of pre-COVID levels at year-end 2023. In February 2024 alone, over 4.9 million US citizens traveled outside the country, according to the International Trade Administration’s data. Another recent report published by UN Tourism forecasts that the international tourism industry will fully recover its pre-pandemic levels by 2024 — with a strong travel stream from the US due to the rising strength of the US dollar. Since the pandemic, people have realized globally the importance of a living-for-experiences lifestyle, and have started to invest more in different forms of travel such as “wellness travel”. At the same time, however, persisting inflation, high-interest rates, volatile oil prices, and disruptions to trade are causing transport and accommodation costs to rise. Therefore, tourists are now opting for cheaper destinations that are closer to their home country, and adopting sustainable practices. Another factor that is now affecting the travel industry is the mounting geopolitical tensions and conflict eruptions across the world. Travelers are more cautious about their travels and are willing to learn more about the potential risks of traveling to their desired destinations. So, to help US travelers navigate their travels safely, The U.S. State Department issues individual travel advisory levels for over 200 countries worldwide. These are updated frequently and are ranked based on several risk factors, such as health, terrorism, and civil unrest. The US Travel Advisory’s ranking has four levels. Level 1 means that the country has no major safety risks, but travelers should still exercise normal precautions. When risks to safety and security are heightened in a country, it gets a level 2 rating. Similarly, the level 3 travel advisory countries pose serious risks to the safety and security of citizens as well as tourists. Someone who’s planning to travel to level 3 countries is advised to reconsider their travel by the advisory board. The Department of State provides additional guidance to those already in such regions through its website. If a country has a travel advisory of level 4, it means that travelers should not travel to that country at all. That’s because there is a greater likelihood of falling victim to acts of terrorism, being kidnapped, or getting stuck amidst conflict. Plus, in an emergency, the US government has little to no means to assist its citizens in level 4 advisory countries. Therefore, they are listed as “do not travel” countries. There are also a few countries labeled as “other.” For example, China. That’s because, there are parts of the country that are safe to travel to, parts where caution needs to be exercised, and areas where travel needs to be reconsidered due to safety concerns. So, countries listed as “others” by the travel advisory may or may not be safe depending on which area or parts the tourists travel to. For those wanting to travel to these “other” countries, or countries with level 3 and 4 warnings despite being advised not to, the advisory has laid out guidelines that need to be followed. Individuals may also reach out to travel risk management (TRM) companies; they identify, assess, and mitigate risks to protect individuals during their travel to a high-risk area. Some key players in the global travel risk management services industry include Everbridge Inc (NASDAQ:EVBG), Expedia Group Inc (NASDAQ:EXPE), and Assicurazioni Generali S.p.A. (MIL:G.MI)’s GGA. Everbridge Inc (NASDAQ: EVBG), a global leader in critical event management (CEM) and safety software applications, is a company that provides information about critical events and helps travelers with personal safety and business continuity. Essentially, it allows users to send notifications to individuals, groups, lists, and geographic locations so they can anticipate, mitigate, and respond to emergency situations. The company has over 160 patents to its name, representing its dedication to innovation and technology. In 2023, Everbridge Inc (NASDAQ: EVBG) received a new patent related to incorporating Artificial Intelligence (AI) in analytics dashboards for CEM software systems. Meanwhile, Expedia Group Inc (NASDAQ: EXPE) is an American travel technology company that owns and operates several aggregators across the travel industry. Expedia Group Inc (NASDAQ: EXPE) ensures the safety of travelers in remote or dangerous locations through a comprehensive approach that includes developing and sharing a safety toolkit that identifies the health and safety risks to the travelers. Moreover, Expedia Group Inc (NASDAQ: EXPE) has also incorporated generative AI into some of its features and products targeted to travelers. Lastly, Assicurazioni Generali S.p.A. (MIL:G.MI)’s Generali Global Assistance (GGA) is a company that offers travel risk management solutions as well as sharing resources regarding unforeseen safety and security risks, such as Hurricane Resources Center. Assicurazioni Generali S.p.A. (MIL:G.MI) also owns GMMI, which is a global medical risk management company Below, we list the biggest countries on the US Travel Advisory’s Do Not Travel list. Our Methodology For our list of the 25 Biggest Countries in Do Not Travel List, we have sourced our data from the US Travel Advisories. To rank the list for the biggest countries, we have considered the area of each country and sourced our data from the CIA’s database. Note that there are only 19 countries on the US Do Not Travel list, but some countries on the Reconsider Travel list have large portions of the country listed as “do not travel.” Therefore, we have included six level 3 countries on our list too. The list is in ascending order of area. By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders. 25 Biggest Countries in Do Not Travel List 25. Lebanon Total land area (sq km): 10,400 Lebanon, a country in the Middle East, has been issued a level 3 warning by the Travel Advisory. The government asks tourists to reconsider their choice to travel to Lebanon because even though it’s a beautiful country, there’s a high risk of tourists falling victim to crime, terrorism, civil unrest, kidnapping, unexploded landmines, and armed conflict. Some areas also have increased risk, especially near the borders. The level 4 areas in Lebanon include the entire southern Lebanon, the Lebanon-Syria border, and Lebanon’s refugee settlements. The country’s safety status was last updated on January 29, 2024. 24. Jamaica Total land area (sq km): 10,991 The 24th largest country on the list, Jamaica is also a level 3 country where violent crimes, armed robberies, sexual assaults, and homicides are extremely common. Jamaica has fourteen parishes in total, and out of these, nine are marked as do not travel zones for tourists. Other level four areas in the country include the town of Yallahs, the Whitehall, Bethel Town, Red Ground neighborhoods of Negri, Green Vale, Gray Ground, and the Vineyard neighborhoods of Mandeville. The travel advisory last updated Jamaica’s safety status on January 23, 2024. 23. Haiti Total land area (sq km): 27,750 Haiti is one of the most politically unstable countries in the world. It is marked as a do-not-travel country by the travel advisory since July 27, 2023, after the U.S. Department of State’s ordered departure of family members of U.S. government employees and non-emergency U.S. government employees from the country. The State Department also advised all U.S. citizens in Haiti to depart Haiti as soon as possible through any commercial or private transportation available. Kidnapping, violent crime, armed robbery, carjackings, and civil unrest are extremely common in the country too. 22. North Korea Total land area (sq km): 120,538 North Korea, officially known as the Democratic People’s Republic of Korea, is classified as a do-not-travel country by the advisory because of the constant (and extremely serious) risks of arrest and long-term wrongful detention of U.S. nationals. As of 2024, all U.S. passports are invalid for travel to, in, or through North Korea unless specially validated by the authority of the Secretary of State. Since the U.S. government does not have any diplomatic or consular relations with DPRK, in cases of emergency, the American government is unable to provide services to its citizens. 21. Syria Total land area (sq km): 187,437 Syria, a country in the Middle East, has a history that dates all the way back to over 700,000 years. However, most of its history comprises conflicts and destruction. Modern-day Syria is trapped in the clutches of a brutal multi-sided war that has been ongoing since 2011. A year after the war broke out, in February 2012, the US Embassy in Syria’s capital — Damascus — suspended its operations. As of 2024, the US government is still unable to provide any sort of emergency services to its citizens should they travel to Syria and face any issues. To this day, armed conflict is very much active in the country, meaning that no part of Syria is safe from violence. Given these factors and the state of terrorism and unrest in the country, the US Travel Advisory has issued a level 4 warning for Syria. 20. Belarus Total land area (sq km): 207,600 The 20th biggest country on the list of countries on the Do Not Travel list, Belarus is also on the US Travel Advisory’s Do Not Travel list due to the country’s facilitation of Russia’s aggression against Ukraine. It was last updated for safety concerns on July 26, 2023. The Belarusian authorities have detained thousands of people, including US citizens, for alleged affiliations with opposition parties and participation in political demonstrations. There is also the potential for civil unrest in the country. The U.S. Embassy has extremely limited ability to assist Americans in Belarus in case of emergencies. According to the advisory, the Department of State had ordered the departure of all its government employees in the country and had suspended U.S. Embassy operations in Minsk till further notice on February 28, 2022. 19. Burkina Faso Total land area (sq km): 274,200 Burkina Faso is a landlocked low-income country in West Africa with a level four warning issued by the US Travel Advisory because of terrorism, crime, and kidnapping. The Government of Burkina Faso has also maintained a state of emergency in various regions across the country, and the U.S. government is unable to provide any emergency services to its citizens throughout most of Burkina Faso. 18. Iraq Total land area (sq km): 438,317 Iraq is another one of the biggest countries with a level four warning on the State Department travel warning list. Aside from Mission Iraq’s limited capacity to provide support to American tourists in the country, Iraq earns its position on the do not travel list due to increasingly common occurrences of terrorism, kidnapping, armed conflict, and civil unrest in the country. On October 20, 2023, the Department ordered the departure of its non-emergency U.S. government personnel and their eligible family members from its Embassy in Baghdad and U.S. Consulate General Erbil because of increased security threats against them. 17. Yemen Total land area (sq km): 527,968 Yemen is yet another war-torn country in the Middle East. As of 2024, it is one of the poorest countries in the MENA region and is facing one of the world’s worst humanitarian crises. The war in Yemen first broke out in 2014, and the U.S. Embassy in Sana’a (Yemen’s capital) suspended its operations in the country in February 2015. The advisory suggests not to travel to Yemen because of terrorism, civil unrest, crime, health risks, kidnapping, armed conflict, and landmines. 16. Ukraine Total land area (sq km): 603,550 The Russia-Ukraine war first began in February 2014 when Russia began its annexation of Crimea. Since then, between 2015 and 2021, the line of conflict stabilized. However, on 24 February 2022, Russian forces once again began the invasion of Ukraine, resulting in a significant escalation of the Russo-Ukrainian War. Since then, Ukraine has been marked as a do not travel country by the US Travel Advisory due to active armed conflict. The security situation in Ukraine remains unpredictable, and the Travel Advisory last updated the situation on May 22, 2023. 15. Central African Republic Total land area (sq km): 622,984 The Central African Republic greatly lacks social cohesion and is a fragile country. The Travel Advisory has classified it as a do not travel country because even though there have been no prominent incidents of targeted violence or threats against US citizens, the Central African Republic is still very prone to civil unrest, demonstrations, and election-related violence. Embassy Bangui has extremely limited ability to provide support to U.S. citizens in case they fall victim to crime, civil unrest, and kidnapping. Plus, armed groups control large areas of the country and are known to frequently kidnap, injure, and/or kill civilians. 14. Somalia Total land area (sq km): 637,657 Located in East Africa, Somalia is a do not travel list country because of crime, illegal roadblocks, physical abuse, terrorism, civil unrest, lack of medical facilities, kidnapping, “cultural rehabilitation centers”, and pirate activity. As reported by Amnesty International, the human rights situation in the country is at its worst, too. 13. South Sudan Total land area (sq km): 644,329 South Sudan is also an East African country, and its population has been stuck in a deadly situation of armed conflict, economic decline, disease, and hunger since 2013. It is ranked as a level four country due to the high risk of violent crime – such as carjackings, shootings, ambushes, assaults, robberies, kidnapping, and armed conflict. Foreign nationals in the country have frequently fallen victim to rape, sexual assault, armed robberies, and other violent crimes. 12. Afghanistan Total land area (sq km): 652,230 Ranked 12th on the list of 25 biggest countries in Do Not Travel list, Afghanistan is a landlocked country located at the crossroads of Central Asia and South Asia. According to the Travel Advisory, no US citizen should travel to Afghanistan for any given reason. The US Embassy in Kabul suspended its operations in the country in 2021, when the Taliban established an “interim government” based in Afghanistan’s capital, Kabul. Anyone who travels to the country puts themselves at risk of terrorism, wrongful detention, kidnapping, and crime, according to the US Travel Advisory. 11. Myanmar (Burma) Total land area (sq km): 676,578 Myanmar, formerly known as Burma, is an Asian country with ongoing insurgencies since 1948. Mainly, the conflict has been ethnic-based. The US Travel Advisory has ranked it as a level four country due to civil unrest, armed conflict, arbitrary enforcement of local laws, limited and/or inadequate healthcare, emergency medical resources, land mines, wrongful detentions, and unexploded ordnances. 10. Venezuela Total land area (sq km): 912,050 Venezuela is a South American country, listed by the travel advisory in their do not travel list because of the high violent crime rates, civil unrest, kidnapping, and the arbitrary enforcement of local laws. Wrongful detentions, terrorism, and poor health infrastructure are also major factors for this classification despite the country’s scenic beauty. The US Department of State withdrew all diplomatic personnel from the US Embassy in the country’s capital – Caracas – on March 11, 2019. 9. Nigeria Total land area (sq km): 923,768 A country in West Africa, Nigeria is classified as a level 3 country by the travel advisory i.e., anyone considering to travel to Nigeria should reconsider because of continued risks of crime, terrorism, civil unrest, kidnapping, and armed gangs. Some areas have increased risk, and are listed as do not travel zones. These include the Borno, Yobe, Kogi, northern Adamawa, Bauchi, Gombe, Kaduna, Kano, Katsina, Sokoto, Zamfara, Abia, Anambra, Bayelsa, Delta, Enugu, Imo, and Rivers states. 8. Ethiopia Total land area (sq km): 1,104,300 Ethiopia, located in East Africa, is also one of the few level 3 countries on this list. The advisory suggests travelers reconsider going to Ethiopia because of sporadic violent conflict, civil unrest, crime, communications disruptions, terrorism, and kidnapping in border areas. The Tigray Region, the border with Eritrea, the Afar-Tigray border, the Gambella and Benishangul Gumuz Regions, the Oromia Region, Southern Nations and National People (SNNP) Region, the border with Sudan, the border with Kenya, and the border with Somalia are all the places listed as Do Not Travel in the travel advisory for Ethiopia. 7. Colombia Total land area (sq km): 1,138,910 One of the top 10 biggest countries on the Do Not Travel list by the US Travel Advisory, Colombia is a South American country with a level 3 warning by the advisory. The country has an alarmingly high rate of crime, and constant threats of terrorism, civil unrest, and kidnapping. The Arauca department, Cauca department (excluding Popayán), Norte de Santander departments, and the Colombia-Venezuela border region are listed as do not travel areas in Colombia. 6. Mali Total land area (sq km): 1,240,192 Ranked 6th, Mali is a landlocked West African country. The US Travel Advisory asks travelers not to go to Mali due to crime, terrorism, kidnapping, and roadblocks. Mali’s travel advisory details were last updated on July 13, 2023. Click to continue reading and see the 5 Biggest Countries in Do Not Travel List. Suggested articles: 20 Most Dangerous Countries that American Tourists Usually Visit 30 Safest Countries In the World in 2024 30 Countries with Highest Rates of Violent Crime Disclosure: None. 25 Biggest Countries in Do Not Travel List is originally published on Insider Monkey......»»
25 Worst Countries for Gender Equality
In this article, we take a look at the 25 worst countries for gender equality. If you would like to skip our detailed analysis of the economic impact of gender inequality, you can directly go to the 5 Worst Countries for Gender Equality. Gender Inequality – The Present Condition The question of gender inequality has […] In this article, we take a look at the 25 worst countries for gender equality. If you would like to skip our detailed analysis of the economic impact of gender inequality, you can directly go to the 5 Worst Countries for Gender Equality. Gender Inequality – The Present Condition The question of gender inequality has been a part of the international policymaking agenda for a long time, and yet, significant barriers continue to persist in the domain. According to data from UN Women, the world has over 796 million illiterate people, more than two-thirds of whom are women. Another estimate states that 60% of the world’s chronically hungry population consists of women and girls. According to WEF’s Global Gender Gap Report 2020, only 55% of adult women are a part of the labor force, compared with 78% of men. In addition, the global wage gap is still higher than 40%, whereas the worldwide income gap is more than 50%. World Bank’s Women, Business, and The Law Report from 2022 concluded that globally, 2.4 billion women of working age did not have equal economic opportunity. Around 178 countries had legal barriers preventing women from full economic participation, while 95 countries did not provide equal salaries for equal work. The global gap between the expected lifetime earnings of men and women was estimated to be $172 trillion, more than two times the world’s annual GDP. Furthermore, data showed that women only received three-quarters of the total legal rights awarded to men. Out of the 190 countries whose data was surveyed by the WB report, only 12 showcased complete gender parity. Keeping this in view, you can also review the 30 Worst Countries for Women’s Rights. The Economic Cost As the topic of equal access to economic opportunities continues to be a significant point in national and international arenas, one has to look at why this matters. UN Women reports that in developing countries, women make up 43% of the agricultural labor force. If these women had access to the same resources as their male counterparts, they could increase their farming yield by up to 30%. This could raise the total agricultural output of these developing countries by 4%, reducing world hunger by 12%-17%. Thus, providing women access to similar resources could potentially offset a global chain of positive reactions. A McKinsey & Company Global Insitute Report found that resolving the gender gap could increase global GDP by $12 trillion, which amounts to 11%. If the gap is removed entirely, the addition could be as high as $28 trillion. The Harvard Division of Continuing Education reported that companies with the highest number of women executives earned a 47% higher rate of return on their equity than companies with no women in executive positions. Moreover, companies that are in the top 25% in terms of gender diversity are likely to make 27% more profit than the national average for their industry. These statistics paint a promising picture for companies investing in gender outreach and equality achievement. Who Is Leading The Change? While every company can benefit from a more equal workforce, some have been more prominent in these efforts. Estée Lauder Companies Inc. (NYSE:EL) is a prime example of a company that has led the change. Half of the company’s global regions are led by women, as are all of its R&D innovation centers. In addition, 59% of its vice president or higher positions are occupied by female representatives. According to data by Forbes, more than 60% of the scientists, engineers, and technical professionals at Estée Lauder Companies Inc. (NYSE:EL) are women. This is far more than the global segment of STEM workers, of which only 29% are women, as reported by WEF’s 2023 Global Gender Gap Report. These are reasons why Forbes ranked Estée Lauder Companies Inc. (NYSE:EL) as the world’s second-best company for women. Marriott International, Inc. (NASDAQ:MAR) is another company with significant women leadership, which accounts for 51% of its US executives and 47% of other global executives. The company runs female-focused projects like the Female Leadership Initiative, which works in countries across the globe. The program is aimed at equipping female leaders with a tailor-made development program to aid career advancements. Marriott International, Inc. (NASDAQ:MAR) also offers several flexibility benefits to empower its women employees, examples of which include financial assistance for adoption, childcare discounts, and reduced-hour programs for people returning to work after parental leave. These features make Marriott International, Inc. (NASDAQ:MAR) one of the top companies working to achieve a gender-equal workforce. You can also check out the 25 Most Gender and Income-Equal Countries in the World. At the forefront of gender equality in the US is also a fashion retailer, namely Gap, Inc. (NYSE:GPS). In 2014, Gap, Inc. (NYSE:GPS) became the first Fortune 500 company to announce that it pays equal wages to its male and female employees, something which was later confirmed by several third-party analyses. Two years later, the company received the Catalyst Award for its workplace inclusion of women and other diverse groups. Gap, Inc. (NYSE:GPS) also runs the P.A.C.E./RISE program for the women in its supply chain in order to equip them with foundational life skills and technical training. By 2022, 1.3 million women and girls across 19 countries had participated in the program. Gap, Inc. (NYSE:GPS) is aiming that by 2025, 100% of its strategic factories will participate in the project. You can also take a look at 20 States With the Smallest Gender Pay Gap in 2023. As private-sector companies continue to invest in gender equality initiatives around the globe, several countries are still lagging far behind the globally intended targets and goals. Here are the 25 worst countries for gender equality in the world today. 25 Worst Countries for Gender Equality Our Methodology To organize this list of the 25 worst countries for gender equality, we consulted the Gender Inequality Index (GII) and the Gender Development Index (GDI) by the UNDP. The countries are listed in ascending order of their score on the GII, where a higher score indicates higher inequality. The closer a country’s score is to 1, the more gender unequal it is. The GDI values are added for further context and tie-breaking wherever required. These are calculated as a ratio between male and female HDI, and a higher value indicates more development equality. The farther a country’s GDI is from 1, the more development inequality it has. Countries have also been divided into five groups under the GDI, where group 5 indicates the countries furthest from gender parity. Data from the UN Women’s Country Fact Sheets has been added to provide more insight. Note that there are certain countries from whom the UNDP does not have the necessary data required to calculate these indices, so they might not be present on this list despite having issues of gender inequality. Based on this methodology, here are the 25 worst countries for gender equality: 25 Worst Countries for Gender Equality 25. Cameroon GII Score: 0.555 GDI Score: 0.900 (Group 4) 22.7% of Cameroon’s employed women population lives below the poverty line. 22% of women aged 15-49 reported that they had been subjected to intimate partner violence, while 29.8% of women aged 20-24 had been married before the age of 18. This is why Cameroon is one of the worst countries for gender equality in 2024. 24. Iraq GII Score: 0.562 GDI Score: 0.786 (Group 5) In Iraq, women and girls aged 10+ spend 24.1% of their time on unpaid domestic work, whereas men only spend 4.2%. The unemployment rate for women was 31%, compared to 10.3% for men. Furthermore, girls had a 20.7% out-of-school rate for primary and secondary education, while boys had only 6.8%. 23. Republic of Congo GII Score: 0.572 GDI Score: 0.909 (Group 4) In the Republic of Congo, 43.7% of the employed female population lives below the poverty line. 27.3% of women aged 20-24 were married before they turned 18. In addition to issues of gender equality, the country also struggles with a lack of data, as statistics were available for only 36.1% of the SDG indicators used to measure gender-based performance. 22. Madagascar GII Score: 0.574 GDI Score: 0.945 (Group 3) Madagascar is one of the worst countries for gender equality, as 40.3% of women aged 20-24 were married before the age of 18. Women and girls aged above 10 spend 14.6% of their time on unpaid domestic work, whereas men only spend 2.8%. The current adolescent birth rate for women aged 15-19 is 150.8 per 1,000 women. 21. Burkina Faso GII Score: 0.577 GDI Score: 0.881 (Group 5) As of February 2021, only 6.3% of parliamentary seats in Burkina Faso were held by women, whereas the global average was 25.5%, as reported by the UN. 51.6% of women aged 20-24 had been married before they turned 18. UNICEF reports female genital mutilation to be one of the biggest gender-related issues in the country, which affects 56% of women aged 15 to 49. 20. Togo GII Score: 0.578 GDI Score: 0.848 (Group 5) In 2017, only 39.6% of the women in Togo reported that their needs for family planning had been satisfied by modern methods. Only 18.7% of the seats in the parliament were held by women, whereas 24.8% of women in the age bracket of 20-24 were married before the age of 18. 19. Malawi GII Score: 0.579 GDI Score: 0.926 (Group 3) The current adolescent birth rate for women aged 15-19 is 137.6 per 1,000 women in Malawi, which has increased from previous years. 42.1% of women in the age bracket of 20-24 were married before 18. 69.8% of employed women live before the international poverty line, whereas 86.2% of the female population is severely food insecure. 18. Gambia GII Score: 0.585 GDI Score: 0.940 (Group 3) In Gambia, women hold only 8.6% of parliamentary seats. In 2020, only 39.7% of women reported satisfaction with their access to modern family planning methods. 55.3% of the female population is food insecure, whereas 25.7% of women aged 20-24 were married before 18. 17. Mauritania GII Score: 0.603 GDI Score: 0.874 (Group 5) 37% of Mauritanian women aged 20-24 married before turning 18. In 2015, only 30.4% of women reported satisfaction with the modern family planning methods available to them. UN Women had access to only 34.4% of the SDG indicators required to evaluate gender-based performance, emphasizing a massive data gap. 16. Papua New Guinea GII Score: 0.604 GDI Score: 0.927 (Group 3) Papua New Guinea is one of the worst countries for gender equality in the world. In 2018, 30.6% of women in the age bracket of 15-49 reported being subjected to intimate partner violence. Moreover, as of December 2020, data to evaluate gender-based performance was available for only 22.1% of SDG indicators, with significant gaps in labor market indicators. 15. Democratic Republic of Congo GII Score: 0.605 GDI Score: 0.891 (Group 5) Based on data from February 2021, women held only 12.8% of the seats in Parliament. In 2016, the adolescent birth rate was 109 births per 1,000 women aged 15-19. In 2018, only 33% of women felt their need for family planning had been satisfied, and 35.6% of women in the age bracket of 15-49 had been subjected to intimate partner violence. 14. Mali GII Score: 0.607 GDI Score: 0.830 (Group 5) In Mali, women and girls above the age of 15 spend 20.4% of their time on unpaid domestic work, whereas the value for men is only 2.5%. 53.7% of women between the ages of 20-24 were married before their 18th birthday. In 2017, the adolescent birth rate for women aged 15-19 was reported to be 164 per 1,000 women. 13. Niger GII Score: 0.609 GDI Score: 0.826 (Group 5) In Niger, 49.2% of girls are out-of-school at the primary and secondary levels. The country also has one of the world’s highest rates of underage marriages. 76.3% of the women aged 20-24 entered into the marriage contract before the age of 18. This makes Niger one of the countries with the most gender inequality in the world. 12. Guinea GII Score: 0.609 GDI Score: 0.818 (Group 5) Guinea is one of the world’s worst countries for gender equality due to a high rate of underage marriages: 46.5% of women aged 20-24 reported that they had been married before the age of 18. Only 15.9% of the seats in local governmental bodies are held by women, whereas in the national parliament, the ratio of women is 16.7%. 11. Côte d’Ivoire GII Score: 0.612 GDI Score: 0.861 (Group 5) Based on data from February 2021, women held only 11.4% of parliamentary seats in Côte d’Ivoire. 24.1% of employed women lived below the international poverty line, whereas 25.4% of girls were out of school at the primary and secondary levels. 27% of women in the age bracket of 20-24 were married before the age of 18. 10. Sierra Leone GII Score: 0.613 GDI Score: 0.885 (Group 5) In Sierra Leone, 48.3% of employed women live below the poverty line, whereas 90.3% of the female population is facing severe food insecurity. According to the UN Women database, data on political participation and gender-responsive institutions in Sierra Leone is severely lacking, preventing several gender-based criteria from being evaluated. 09. Haiti GII Score: 0.621 GDI Score: 0.929 (Group 3) The UN Women database only had data for 32.7% of gender-based SDG indicators from Haiti, with major gaps being present in the areas of political participation, economic participation, and educational attainment. However, the UNFPA has noted that women and girls are among those most impacted by the humanitarian crises currently going on in Haiti. 08. Guinea-Bissau GII Score: 0.631 GDI Score: 0.862 (Group 5) As of February 2021, women hold only 13.7% of the parliamentary seats in Guinea-Bissau. The UN Women database has access to just 27.9% of gender-based SDG indicators, one of the lowest values on this list. Available data points towards Guinea-Bissau being one of the world’s most gender-unequal countries. 07. Benin GII Score: 0.649 GDI Score: 0.848 (Group 5) In February 2021, 8.4% of the seats in Benin’s national parliament were held by women, whereas only 4.6% of the local government seats belonged to women representatives. The current adolescent birth rate for women aged 15-19 is 108 per 1,000 women. 30.6% of women aged 20-24 were married before the age of 18. 06. Liberia GII Score: 0.656 GDI Score: 0.860 (Group 5) Women hold only 11% of the seats in the national parliament of Liberia. The adolescent birth rate is 128 per 1,000 women in the age bracket of 15-19. 47.3% of the employed female population lives below the poverty line. 85.5% of the total adult female population is unemployed. 35.9% of women aged 20-24 were married before they turned 18. Click to continue reading and see the 5 Worst Countries for Gender Equality. Suggested Articles: 15 Best Side Hustles for Women Over 50 12 Highest-Paid Women CEOs 25 Best Countries for Women in Terms of Economic Opportunity Disclaimer: None. 25 Worst Countries for Gender Equality is originally published on Insider Monkey......»»
5 Oversold Biotech Stocks To Buy Right Now
In this article, we will be taking a look at 5 oversold biotech stocks to buy right now. To read our detailed analysis of the biotech sector, you can go directly to see the 11 Oversold Biotech Stocks To Buy Right Now. 5. Ovid Therapeutics Inc. (NASDAQ:OVID) Number of Hedge Fund Holders: 9 14-day RSI […] In this article, we will be taking a look at 5 oversold biotech stocks to buy right now. To read our detailed analysis of the biotech sector, you can go directly to see the 11 Oversold Biotech Stocks To Buy Right Now. 5. Ovid Therapeutics Inc. (NASDAQ:OVID) Number of Hedge Fund Holders: 9 14-day RSI Value: 24.4 Ovid Therapeutics Inc. (NASDAQ:OVID) is a biopharmaceutical company that develops impactful medicines for patients with epilepsies and seizure-related disorders. It is based in New York. Nine hedge funds were long Ovid Therapeutics Inc. (NASDAQ:OVID) in the fourth quarter, with a total stake value of $59.7 million. Follow Ovid Therapeutics Inc. Follow Ovid Therapeutics Inc. or Subscribe with Google We may use your email to send marketing emails about our services. Click here to read our privacy policy......»»
11 Oversold Biotech Stocks To Buy Right Now
In this article, we will be taking a look at 11 oversold biotech stocks to buy right now. To skip our detailed analysis of the biotech sector, you can go directly to see the 5 Oversold Biotech Stocks To Buy Right Now. Dealmaking in Biotech Healthcare has been performing well so far in 2024, and […] In this article, we will be taking a look at 11 oversold biotech stocks to buy right now. To skip our detailed analysis of the biotech sector, you can go directly to see the 5 Oversold Biotech Stocks To Buy Right Now. Dealmaking in Biotech Healthcare has been performing well so far in 2024, and many investors are now wondering which specific areas in healthcare they should try to buy into today. Several analysts believe biotech in one area in the healthcare sector that is poised to benefit in 2024, considering the current performance of biotech stocks. However, certain areas within the biotech space may be risky as the trend of dealmaking and buyouts in the industry continues. As such, investors need to tread carefully if biotech is their preferred area of investment in 2024. On February 28, Laura Chico, the Managing Director at Wedbush, joined CNBC’s “Power Lunch” to discuss this dealmaking trend in the biotech space and what it may mean for investors. Here are some of her comments: “I think this is a trend we’ve been seeing a lot of this year, and even from the end of last year. So from December to now, we’ve got over 11 over $35 billion in transactions. I don’t think it’s gonna stop anytime soon. Large-cap pharma biotechs do have exclusivity expiries that they have coming up, that they need to address. Also looking for revenue growth, a great spot to look is in the small and mid-cap biotech space, for assets that might be a little more de-risked.” Investors looking to buy into biotech stocks this year may be wondering which areas are more prone to buyouts, or if there even is any one rule applying to the buyout trend. Chico noted the following areas to keep an eye on as far as buyouts are concerned: “Obesity has been a really big theme in 2023, will probably continue for the foreseeable future, but across the area, at least in these recent M&A transactions, it’s been really broad-based, and I think that’s really a testament to the innovation in the space. We have a number of deals in oncology, immunology, inflammation, neuro, and even rare diseases. So it’s not just within certain verticals at this point.” A Pronounced Biotech Rally in 2024 According to Chico, investors looking to invest in biotech will surely do well by keeping up with FDA approval news, scientific and clinical risks posed by a company’s products, and most importantly, what area of diseases a company is targeting with its products, as this may highlight its chances of success in terms of meeting an overlooked target population’s needs alongside gaining FDA approval. All things considered, biotech companies like Moderna, Inc. (NASDAQ:MRNA), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), and Gilead Sciences, Inc. (NASDAQ:GILD) may be set to benefit from a pronounced biotech rally this year. On March 6, Jared Holz, Healthcare Equity Strategist at Mizuho, joined CNBC’s “The Exchange” to discuss this possibility: “[Biotech] has been one of the worst spaces in all of the equity market since mid-2021. We’ve barely seen any positive activity for any pronounced period of time until very recently… When you consider the risk factors, with respect to drug prices and other elements of the business… all these risk factors are much more well understood and we can continue to move higher from here.” Holz believes that even if investors haven’t been able to get into large-cap biotech stocks, that doesn’t mean they can’t get into them now. At the same time, he noted that there are also many well-placed small-cap options in the market that can help investors enter the biotech space. Considering this, we have compiled a list of oversold stocks in the biotech space. These companies may have been going overlooked for some time, but include some of the best biotech stocks to buy under $20 and some of the most undervalued biotech stocks to buy as well. A biotechnologist in a lab setting, examining a sample of liquid for research and development. Our Methodology We used the Relative Strength Index (RSI) indicator to pick oversold stocks in the biotech industry for our list. The RSI indicator is a momentum indicator used in the technical analysis of stocks by measuring the speed and magnitude of a security’s recent price changes to evaluate whether the price of that security is overvalued or undervalued. Stocks with RSI values of over 70 are traditionally considered overbought, while those with RSI values under 30 are oversold. We thus used a stock screener to find oversold stocks in the biotech industry with RSI values under 30 and then ranked them based on this metric, from the highest to the lowest RSI value. We also mentioned the number of hedge funds holding stakes in each stock, using Insider Monkey’s hedge fund data for the fourth quarter. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by over 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator. Oversold Biotech Stocks To Buy Right Now 11. Aura Biosciences Inc. (NASDAQ:AURA) Number of Hedge Fund Holders: 11 14-day RSI Value: 29.1 Aura Biosciences Inc. (NASDAQ:AURA) is a biotech company based in Boston, Massachusetts. The company develops therapies to treat cancer and virus-like drug conjugates technology platforms to treat tumors of high unmet need in ocular and urologic oncology. In total, 11 hedge funds were long Aura Biosciences Inc. (NASDAQ:AURA) in the fourth quarter, with a total stake value of $151.6 million. While Aura Biosciences Inc. (NASDAQ:AURA) is on our list of oversold stocks, it is still a highly popular biotech stock, just like Moderna, Inc. (NASDAQ:MRNA), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), and Gilead Sciences, Inc. (NASDAQ:GILD). 10. Relay Therapeutics, Inc. (NASDAQ:RLAY) Number of Hedge Fund Holders: 26 14-day RSI Value: 29 A Buy rating and $30 price target were maintained on Relay Therapeutics, Inc. (NASDAQ:RLAY) by Bradley Canino at Stifel on February 22. Based in Cambridge, Massachusetts, Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage precision medicines company, and is one of the best oversold stocks to buy. It transforms the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. Relay Therapeutics, Inc. (NASDAQ:RLAY) was spotted in the portfolios of 26 hedge funds in the fourth quarter, with a total stake value of $218.3 million. Casdin Capital was the largest shareholder in Relay Therapeutics, Inc. (NASDAQ:RLAY) at the end of the fourth quarter, holding 7.4 million shares in the company. 9. Tango Therapeutics Inc. (NASDAQ:TNGX) Number of Hedge Fund Holders: 21 14-day RSI Value: 28.4 We saw 21 hedge funds long Tango Therapeutics Inc. (NASDAQ:TNGX) in the fourth quarter, with a total stake value of $289.4 million. Tango Therapeutics Inc. (NASDAQ:TNGX) discovers and develops drugs to treat cancer. Based in Boston, Massachusetts, the company offers a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a cancer treatment. Joseph Catanzaro at Piper Sandler maintained an Overweight rating and $18 price target on Tango Therapeutics Inc. (NASDAQ:TNGX) on February 12. Tango Therapeutics Inc. (NASDAQ:TNGX) is one of the top oversold stocks to buy, considering that it is a popular biotech stock, just like Moderna, Inc. (NASDAQ:MRNA), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), and Gilead Sciences, Inc. (NASDAQ:GILD) 8. Galapagos NV (NASDAQ:GLPG) Number of Hedge Fund Holders: 22 14-day RSI Value: 28.1 EcoR1 Capital was the most prominent shareholder in Galapagos NV (NASDAQ:GLPG) at the end of the fourth quarter, holding 5.8 million shares in the company. Galapagos NV (NASDAQ:GLPG) is an integrated biopharmaceutical company based in Belgium. The company discovers, develops, and commercialize various medicines for high unmet medical needs, and is among the top oversold stocks to invest in. Morgan Stanley’s Judah Frommer maintained an Equal Weight rating and $38 price target on Galapagos NV (NASDAQ:GLPG) on March 7. Our hedge fund data for the fourth quarter shows 22 hedge funds long Galapagos NV (NASDAQ:GLPG), with a total stake value of $483.7 million. 7. Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) Number of Hedge Fund Holders: 18 14-day RSI Value: 27.8 Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) is a commercial-stage biopharmaceutical company based in Canada on our list of oversold stocks. It develops and commercializes therapies to treat various diseases with unmet medical need in the US. Holding 9.5 million shares in the company, Armistice Capital was the largest shareholder in Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) at the end of the fourth quarter. Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) was spotted in the 13F holdings of 18 hedge funds in the fourth quarter, with a total stake value of $121.9 million. As of March 1, HC Wainwright & Co. analyst Ed Arce holds a Buy rating and $13 price target on Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH). 6. Immunovant, Inc. (NASDAQ:IMVT) Number of Hedge Fund Holders: 55 14-day RSI Value: 27.1 There were 55 hedge funds long Immunovant, Inc. (NASDAQ:IMVT) in the fourth quarter, with a total stake value of $913.8 million. Immunovant, Inc. (NASDAQ:IMVT) is a clinical-stage biopharmaceutical company that develops monoclonal antibodies to treate autoimmune diseases. The company is based in New York. Corinne Johnson at Goldman Sachs holds a Buy rating and $50 price target on Immunovant, Inc. (NASDAQ:IMVT) as of March 13. Baron Funds mentioned Immunovant, Inc. (NASDAQ:IMVT) in its fourth-quarter 2023 investor letter: “We initiated a position in Immunovant, Inc. (NASDAQ:IMVT), a clinical-stage biotechnology company developing therapies for autoimmune diseases. During the quarter, the company announced data from a Phase 1 clinical trial of IMVT-1402, an FcRn inhibitor that has broad potential applicability to multiple autoimmune diseases. The data showed that IMVT-1402 delivered dose dependent and deep reductions in disease-causing auto-antibodies with minimal changes in albumin and low-density lipoprotein cholesterol. The company’s first generation FcRn inhibitor has shown strong efficacy but there have been questions about the safety profile of the drug. This promising data makes Immunovant a real competitor in the FcRn inhibitor drug class, though Immunovant is behind argenx in terms of timing. We think both companies can be successful given the broad array of autoimmune diseases that can potentially be treated with a safe and effective FcRn inhibitor.” Click to continue reading and see the 5 Oversold Biotech Stocks To Buy Right Now. Suggested articles: 12 Most Profitable Biotech Stocks To Invest In 13 Best Biotech Stocks To Buy Under $20 20 Highest Paying Countries for Biotechnology Disclosure: None. 11 Oversold Biotech Stocks To Buy Right Now is originally published on Insider Monkey......»»
15 Biggest Bilingual Cities in the US
In this article, we will take a look at the 15 biggest bilingual cities in the US. If you would like to skip our discussion on the global landscape of bilingualism, you can go to the 5 Biggest Bilingual Cities in the US. Almost half of the world population is bilingual, with 43% of the […] In this article, we will take a look at the 15 biggest bilingual cities in the US. If you would like to skip our discussion on the global landscape of bilingualism, you can go to the 5 Biggest Bilingual Cities in the US. Almost half of the world population is bilingual, with 43% of the people speaking two or more languages, according to the Journal of Neurolinguistics. In the United States alone, there are roughly 67.3 million bilingual individuals, making up 20.6% of the total American population, according to the Centre for Immigration Studies. Bilingualism not only enriches cultures but also provides cognitive advantages and increases global interconnectedness. In today’s interconnected world, bilingualism is increasingly important as it creates opportunities for economic engagement. According to some reports, bilingual employees potentially earn 5-20% more per hour compared to their monolingual counterparts. The benefits of bilingualism extend beyond economic advantages. Being bilingual can also help improve memory, attention span, and creativity. Bilingual speakers are also good listeners as they possess an understanding of various sounds and relevant aspects of speech. The percentage of people who speak two or more languages varies worldwide. In Switzerland, 42% of people use two or more languages in everyday life, while only 20% do the same in France. The United States also has regions where residents are more likely to be bilingual. El Monte, California, is one of the most bilingual cities in the US, with 84.5% of its population speaking a language other than English. Meanwhile, California is among the most bilingual states in the US, with 46% of Californians speaking more than one language. This is why it comes as no surprise that California has the highest number of online searches related to learning a new language compared to any other state in the US. The top three most multilingual cities in the US are all situated in California as well. It is interesting to note that Spanish is the most popular second language spoken in the US, after English. There are around 57 million Spanish speakers in the United States as of 2023, which makes the US the biggest Spanish-speaking country after Mexico. Besides Spanish, Mandarin, Tagalog, and Vietnamese are among the top 5 languages spoken in the US. Other popular languages also include French, Arabic, Korean, and German. According to Preply, an online language learning marketplace, Americans are most interested in learning Japanese, Korean, and French, after Spanish and English, based on their search history data. These preferences may stem from individuals’ perceptions regarding the prominence of certain languages in the future. You can find out more about the 30 Most Spoken Languages in the World in 2050 here. Importance of Bilingualism in the Workforce The US government has launched several initiatives and programs to promote bilingual and multilingual learning in the US. One such program is the “Being Bilingual is a Superpower” initiative that promotes multilingual education and a multilingual workforce for the betterment of society. Additionally, reports indicate that nine out of ten US employers rely on bilingual staff, with a projected increase in demand for bilingual employees in the future. Many public companies in the US prioritize the recruitment of bilingual resources for their operations, with notable examples including Kelly Services (NASDAQ:KELYA), Danone (EPA:BN), and HubSpot, Inc. (NYSE:HUBS). Kelly Services, Inc. (NASDAQ:KELYA) is a workforce solutions company that offers a range of employment services, including bilingual job opportunities. Meanwhile, Danone (EPA:BN) is a multinational food company that places a strong emphasis on diversity and inclusion. It actively promotes a bilingual workforce within its organization as part of its commitment to support a diverse workplace. Similarly, HubSpot Inc. (NYSE:HUBS), a leading provider of inbound marketing, sales, and service software, recognizes the benefits of a bilingual workforce and encourages the recruitment of multilingual talent. HubSpot Inc. (NYSE:HUBS) shared an update on the financial performance of the company in its Q4 2023 earnings call: We saw a solid finish to a good year despite the challenging macro environment. Q4 revenue grew 21% year-over-year in constant currency and full year 2023 revenue grew 25% in constant currency. We delivered a standout operating profit margin of 17% in Q4 and 15% for the full year, up over 500 basis points year-over-year. Total customers grew 23% to over 205,000 customers globally, driven by nearly 11,000 net customer additions in the quarter, a new record for us. With this context in mind, let’s take a look at some of the most linguistically diverse cities in the United States. Our Methodology To shortlist the biggest bilingual cities in the US, we referred to the latest data available from the United States Census Bureau. Our methodology involved gathering information on the total number of people aged five and above who speak a non-English language at home across the country. From the shortlisted database, we focused solely on the largest cities based on the latest population statistics. The biggest bilingual cities in the US have been ranked in ascending order of the percentage of bilingual population. By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders. 15 Biggest Bilingual Cities in the US 15. Seattle, Washington Bilingual Population = 24.1% Seattle, Washington, is known for its linguistic diversity, with a significant number of residents speaking non-English languages. According to the City of Seattle Office of Immigrant and Refugee Affairs (OIRA), the most common non-English languages spoken in Seattle are divided into three tiers based on the needs of the community. The top languages include Traditional Chinese, Spanish, Vietnamese, Somali, Amharic, Korean, and Tagalog, reflecting the city’s multicultural and multilingual character. 14. Denver, Colorado Bilingual Population = 24.7% Denver, like many cities in the United States, has a diverse population. There is a considerable presence of bilingual individuals, with a quarter of the city’s population being bilingual, particularly among Asian Americans and Latinos. The city’s bilingual population reflects Denver’s vibrant immigrant communities, contributing to a multilingual environment. 13. Philadelphia, Pennsylvania Bilingual Population = 24.9% Philadelphia is rich with a bilingual and multilingual population. Almost 25% of the city’s population is fluent in more than one language. The multilingual culture of Philadelphia highlights the welcoming nature of the city for immigrants and people from diverse backgrounds. Bilingual education programs in Philadelphia ensure that children from diverse backgrounds get equal educational opportunities within the city. 12. Austin, Texas Bilingual Population = 29.6% With almost 30% of its population being bilingual, Austin, Texas, is a vibrant city with a significant Hispanic population. Spanish is the second most popular language in the city, after English, and is followed by Chinese. This linguistic diversity is a symbol of Austin’s multicultural environment, where residents from various backgrounds contribute to the city’s culture. 11. Fort Worth, Texas Bilingual Population = 32.8% Fort Worth is home to a large Mexican American population, with Spanish being the second most spoken language. The city has implemented bilingual education programs and offers Spanish-language services to support its bilingual community. There are about 33% bilingual residents in the city, signifying its multicultural status. 10. Chicago, Illinois Bilingual Population = 35.9% Chicago has a significant immigrant population, including many bilingual residents. The city offers bilingual education programs, and its bilingual community makes up almost 36% of the city’s population. Chicago’s bilingual culture is a testament to its status as a global city with a mix of different languages and cultures. 9. Phoenix, Arizona Bilingual Population = 37.4% Phoenix has a diverse population with a significant number of Spanish-speaking residents. The city supports bilingual education and has programs to promote Spanish language services. Around 37.4% of the city’s population speaks a non-English language at home. Arizona’s efforts to limit English-only education have contributed to the growth of dual-language immersion programs in the state. 8. San Diego, California Bilingual Population = 39.5% San Diego, California, is known for its multicultural population, with Spanish being the second most spoken language in the city. San Diego’s bilingual culture is a reflection of its status as a hub for immigrants and refugees, with almost 40% of the population being bilingual. The city is at the eighth position on our list of the biggest bilingual cities in the US. 7. San Antonio, Texas Bilingual Population = 40.7% Like many other Texan cities, San Antonio, Texas, has a large Hispanic population. Spanish is the second most spoken language in the city. About 40% of the city’s population is bilingual. The Century Foundation has highlighted San Antonio’s efforts to expand dual language programs through the inclusion of Dual Language Immersion in various schools across the city. 6. Dallas, Texas Bilingual Population = 42.6% Dallas, Texas, is home to a large Mexican American population, with Spanish being the second most-spoken language in the city. The city’s bilingual culture reflects its status as a prominent urban center with a considerable immigrant presence. Nearly 42.6% of the city’s population is bilingual. Click to continue reading and see the 5 Biggest Bilingual Cities in the US. Suggested Articles: 20 Most Fluent English Speaking Countries In The World 20 Best Places to Live in Florida 20 Most Affordable US Cities for Renters Disclosure: None. 15 Biggest Bilingual Cities in the US is published on Insider Monkey......»»