- Sunstone Hotel Investors Reports Results For First Quarter 2020
- White Mountains Reports First Quarter Results
- AAM Reports First Quarter 2020 Financial Results
- Premier Financial Bancorp, Inc. Reports First Quarter 2020 Earnings
- Amyris, Inc. Reports First Quarter 2020 Results
- Grand Slam in the DMS Mid-level Segment - Decisive Nominations Won
- Grand Slam in the DMS Mid-level Segment - Decisive Nominations Won
- U.S. Postal Service Reports Second Quarter Fiscal 2020 Results
- Integrated Ventures's Releases Preliminary Results For Q3/2020 Featuring 50% Revenue Growth And 87% Reduction In Operational Exp
- Converge Technology Solutions Announces Date for First Quarter 2020 Financial Results Conference Call
- AgriBank Reports First Quarter 2020 Financial Results
- Equinox Gold Annual General Meeting, Corporate Update and First Quarter 2020 Financial Results
- Equinox Gold Annual General Meeting, Corporate Update and First Quarter 2020 Financial Results
- Ascent Resources Utica Holdings Reports First Quarter 2020 Operating Results And Announces Revised 2020 Guidance
- Biglari Holdings Inc. News Release
- Chicago Rivet & Machine Co. Announces First Quarter Results of Operations
- Neenah Reports First Quarter 2020 Results
- Ur-Energy Releases 2020 Q1 Results
- Ur-Energy Releases 2020 Q1 Results
- Ritchie Bros. reports first quarter 2020 results
Coinbase Successfully Registers With Spain"s Central Bank
The firm has registered as a crypto exchange and custody wallet provider......»»
New ATTOM Report Reveals Markets at Risk
Market challenges—including the recently rising mortgage rates, continued rise of home prices and general lack of inventory—have put many markets across the country at a serious risk of downturn, according to a new report from ATTOM. ATTOM’s Special Housing Impact Report for Q2 2023 found that New Jersey and Illinois have the highest concentrations of… The post New ATTOM Report Reveals Markets at Risk appeared first on RISMedia......»»
Why Built-for-Rent Is a Growing Market Segment
There is good news to be celebrated in the new-home sector. All measures, from new-home sales to housing starts to building permits and housing completions, are up year-over-year. Given the dearth of housing inventory in the existing-home sales sector, this is cause for celebration. Current homeowners are unlikely to ditch their golden handcuffs of low-interest-rate… The post Why Built-for-Rent Is a Growing Market Segment appeared first on RISMedia......»»
New York Median Home Sale Price and Transactions Tick Up in August
The regional closed median sale price in New York was $635,000 in August, a 0.8% increase as compared to the $630,000 in July, and closed regional sales transactions increased from 4,383 to 5,243 in August, a month-over-month increase of 19.6%, according to a new report from OneKey MLS. OneKey MLS’s monthly report on home sales… The post New York Median Home Sale Price and Transactions Tick Up in August appeared first on RISMedia......»»
Hollywood screenwriters reach deal to end 5-month strike
The focus will now shift to negotiating with the actors' union......»»
Data Center: City"s largest film and TV productions
The ranking is based on total tax credits received in 2022......»»
City releases RFP for latest attempt at redeveloping Kingsbridge Armory
Jan. 18 will be the deadline for responses, according to the Economic Development Corp......»»
On Politics: Biden should use New York"s migrant crisis to revitalize dying cities
The president's first step on work permits for Venezuelans should build toward a bigger, nationwide resettlement plan, columnist Ross Barkan writes......»»
Deals of the Day: Sept. 25
Saint Laurent heads to the Meatpacking District, and a retail building sells in Sunset Park......»»
Office building near Penn Station sells at 80% discount
The 6-story property, one block from Madison Square Garden, has sold for $16.5 million nearly four years after it was developed for $90 million......»»
AMZN Stock Alert: What to Know About Amazon’s $4 Billion Bet on AI Firm Anthropic
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Amazon is getting ready for the AI market with a new investment that will hopefully help AMZN stock in the years to come. The post AMZN Stock Alert: What to Know About Amazon’s $4 Billion Bet on AI Firm Anthropic appeared first on InvestorPlace. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors.....»»
NIO Stock: Nio Responds to Capital Raise Speculation
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Nio stock is on the move Monday after the company shot down speculation that it was considering a new plan for raising capital. The post NIO Stock: Nio Responds to Capital Raise Speculation appeared first on InvestorPlace. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now......»»
Why Is Li Auto (LI) Stock Down Today?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Investors are taking profits in LI stock, which is still well up for the year, while worries grow about Li Auto's all-electric future. The post Why Is Li Auto (LI) Stock Down Today? appeared first on InvestorPlace. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now......»»
RAD Stock Alert: Rite Aid Preps to Close Hundreds of Stores
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Rite Aid is seeing RAD stock fall on Monday after reports claimed the company is considering closing hundreds of locations. The post RAD Stock Alert: Rite Aid Preps to Close Hundreds of Stores appeared first on InvestorPlace. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors.....»»
Why Are Bond Yields So High Right Now?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bond yields are back up and at their highest point since before the 2008-09 global financial crisis as investors appear rattled. The post Why Are Bond Yields So High Right Now? appeared first on InvestorPlace. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors.....»»
Housing Market Predictions 2023: Home Prices Could Jump 5% SOON
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Investors should watch for dislocations in the housing market as higher-for-longer interest rate policy threatens to boost home prices. The post Housing Market Predictions 2023: Home Prices Could Jump 5% SOON appeared first on InvestorPlace. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now......»»
Caffeinate Your Returns: 3 Coffee Stocks to Own for the Long Haul
InvestorPlace - Stock Market News, Stock Advice & Trading Tips However, he’s best known in investment circles for creating “Coffee Can” investing, the idea of buying high-quality companies and holding them for the long haul. The post Caffeinate Your Returns: 3 Coffee Stocks to Own for the Long Haul appeared first on InvestorPlace. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors.....»»
MULN Stock Alert: What to Know as Mullen Receives EPA Certification
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although Mullen Automotive has once again delivered seemingly positive news, investors remain skeptical about MULN stock. The post MULN Stock Alert: What to Know as Mullen Receives EPA Certification appeared first on InvestorPlace. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors.....»»
3 Tech Stocks That Should Be on Every Investor’s Radar This Fall
InvestorPlace - Stock Market News, Stock Advice & Trading Tips These tech stocks have bottomed out and are just starting to stage a turnaround, so snapping up these stocks now can mean massive upside. The post 3 Tech Stocks That Should Be on Every Investor’s Radar This Fall appeared first on InvestorPlace. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now......»»
Why Is TransCode Therapeutics (RNAZ) Stock Up 240% Today?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips With TransCode Therapeutics delivering positive pre-clinical results for its brain tumor candidate, RNAZ stock soared on the implications. The post Why Is TransCode Therapeutics (RNAZ) Stock Up 240% Today? appeared first on InvestorPlace. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now......»»
META Stock Price Predictions: Next Stop $375. What Then?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips As long as Meta Platforms can continue to generate robust revenue as a social media giant, there's no reason to lose faith in META stock. The post META Stock Price Predictions: Next Stop $375. What Then? appeared first on InvestorPlace. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors.....»»
September’s 7 Most Controversial EV Stocks: Buy or Bail?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips While the proliferation of EVs continue to accelerate, not all controversial EV stocks will thrive or even survive going forward. The post September’s 7 Most Controversial EV Stocks: Buy or Bail? appeared first on InvestorPlace. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors.....»»
3 Climate Change Stocks to Profit From the Eco-Trends Boom
InvestorPlace - Stock Market News, Stock Advice & Trading Tips After a summer of record heat, raging wildfires, and extreme flooding around the globe. And the impacts of climate change are being felt even more acutely. Insurance giant Swiss Re estimates that climate change could cost the global economy $23 trillion by 2050. Corporations around the world are becoming involved with mitigating change. Understandably, companies.... The post 3 Climate Change Stocks to Profit From the Eco-Trends Boom appeared first on InvestorPlace. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors.....»»
U Stock Alert: Analysts Are Upbeat as Unity Adjusts Pricing Approach
InvestorPlace - Stock Market News, Stock Advice & Trading Tips With gaming development firm Unity Software making a U-turn on its unpopular policy, U stock looks more appealing to analysts. The post U Stock Alert: Analysts Are Upbeat as Unity Adjusts Pricing Approach appeared first on InvestorPlace. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now......»»
Stock Market Crash Alert: Hedge Funds Are Betting Against Stocks
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Concerns around a stock market crash are once again picking up, highlighted by some worrying hedge fund data. The post Stock Market Crash Alert: Hedge Funds Are Betting Against Stocks appeared first on InvestorPlace. More From InvestorPlace Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In. ChatGPT IPO Could Shock the World, Make This Move Before the Announcement It doesn’t matter if you have $500 or $5 million. Do this now......»»
Barnes" (B) Aerospace Unit Extends Agreements With Safran
Barnes' (B) Aerospace unit extends its agreements with Safran Aircraft Engines related to LEAP and the CFM56 engine programs. This is aimed at catering to the needs of the aviation industry. Barnes Group Inc.’s B Aerospace division has extended its long-term agreement with Safran Aircraft Engines for the repair and overhaul of components related to the LEAP and CFM engine programs. The agreement strengthens the Aerospace unit’s position in the industry, enhancing its expertise in machining and assembly of complex engine components.As part of the agreement, Barnes Aerospace will extend its partnership with Safran Aircraft Engines on the Aftermarket services for LEAP Casings. The collaboration will bolster Barnes Aerospace’s portfolio of LEAP engine products and strengthen its position in the LEAP engine market.Barnes Aerospace has also expanded its CFM56 Component Repair agreement with Safran Aircraft Engines. Barnes performs the repair services for Safran Aircraft Engines in the latter’s Singapore and West Chester, OH facilities.Barnes Group, Inc. Price Barnes Group, Inc. price | Barnes Group, Inc. QuoteBarnes Aerospace’s agreements are aimed at catering to the growing needs of the aviation industry. B’s focus on innovation, technical expertise, and aftermarket capabilities is expected to contribute to the success of the LEAP and the CFM56 engine programs.Zacks Rank & Key PicksBarnes currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader Industrial Products sector are as follows:Flowserve Corporation FLS presently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 6.2%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.Flowserve has an estimated earnings growth rate of 79.1% for the current year. The stock has jumped 26.9% so far this year.Graham Corporation GHM currently flaunts a Zacks Rank #1. The company pulled off a trailing four-quarter earnings surprise of 243.1%, on average.Graham has an estimated earnings growth rate of 400% for the current fiscal year. The stock has rallied 59.8% so far this year.Applied Industrial Technologies AIT currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter earnings surprise of 15%, on average.Applied Industrial has an estimated earnings growth rate of 3.1% for the current fiscal year. The stock has gained 22.9% in the year-to-date period. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Flowserve Corporation (FLS): Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report Barnes Group, Inc. (B): Free Stock Analysis Report Graham Corporation (GHM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Here"s Why Ollie"s Bargain (OLLI) is a Smart Investment Choice
Ollie's Bargain's (OLLI) unwavering commitment to offering value-driven merchandise assortments has positioned it as a formidable player in the marketplace. Ollie's Bargain Outlet Holdings, Inc. OLLI has not only navigated through market challenges but also demonstrated remarkable resilience and growth potential. Based in Harrisburg, PA, the company has defied industry trends, with its stock rallying by an impressive 61.8% year to date against the industry's 22.3% decline.The cornerstone of Ollie's success lies in its 'buy cheap, sell cheap' business model, underpinned by prudent cost management and a relentless focus on enhancing store efficiency. The expansion of its customer loyalty program, Ollie's Army, further bolsters its competitive edge.With the Zacks Consensus Estimate predicting a robust 19.6% increase in current fiscal-year sales and an impressive 67.3% surge in earnings compared to the previous year, Ollie's Bargain is poised for exceptional growth. These figures underscore the company's inherent potential and promising outlook.Market Expansion InitiativesOllie's Bargain's unwavering commitment to offering value-driven merchandise assortments has positioned it as a formidable player in the marketplace, allowing it to effectively respond to consumer demand. The continued success of Ollie's Army has played a vital role in driving sales. With a consistently growing membership, Ollie's Bargain ended the second quarter of fiscal 2023 with 13.5 million active Ollie's Army members, which accounted for slightly more than 80% of sales.The company's performance has been bolstered by the favorable response to its deals and product offerings, which resonate with a wide customer base. Ollie's Bargain's ability to offer appealing and diverse products has been a key driver of its success. Additionally, the company's strong vendor relationships have played a crucial role in further cementing its position in the market.Markedly, Ollie's Bargain's results hinge on the availability of brand-name and closeout merchandise at compelling price points. The company remains steadfast in its commitment to delivering superior deals, enhancing operating margins and expanding its store network. Ollie's Bargain stands to benefit from a favorable closeout environment and increased trade-down activity, aligning with its growth objectives.Image Source: Zacks Investment ResearchStore Growth StrategyOllie's Bargain remains committed to its long-term expansion strategy, aiming to have 1,050 stores or more, with an annual target of opening 50-55 new stores. The company has consistently expanded its store network, achieving an impressive CAGR of 11.5%, growing from 303 stores in fiscal 2018 to 468 stores in fiscal 2022. In the preceding two fiscal years, Ollie's Bargain opened 40 and 46 stores, respectively.Looking at fiscal 2023, the company plans to open 45 new stores, offset by one closure, and remodel 30 to 40 stores. Management's strategy for the year includes the opening of 23 new stores in the third quarter. Importantly, Ollie's Bargain's new store real estate model prioritizes flexibility and focuses on the store size between 25,000 to 35,000 square feet. The company targets new store sales of about $4 million in the first full year of operations.Final TouchOllie's Bargain’s strategic endeavors position the stock firmly for growth. With promising factors such as enhanced closeout opportunities, a growing trend of consumers trading down and ample room for expanding its store network, this Zacks Rank #2 (Buy) stock appears poised for a bright future.Management has set ambitious targets for fiscal 2023, with net sales projected between $2.076 billion and $2.091 billion, marking a significant increase compared to the $1.827 billion reported in fiscal 2022. Ollie's Bargain also anticipates a robust improvement in comparable store sales in the range of 4-4.5%, a noteworthy turnaround from the 3% decline reported in the previous fiscal year.Furthermore, the company foresees fiscal 2023 adjusted earnings in the range of $2.65-$2.74 per share, demonstrating substantial growth compared to the adjusted earnings of $1.62 reported in the preceding fiscal period. These promising outlooks underscore Ollie's Bargain's potential for dynamic growth and value creation.3 More Stocks Looking HotHere, we have highlighted some other top-ranked stocks, namely Grocery Outlet GO, Ross Stores ROST and Walmart WMT.Grocery Outlet, the extreme value retailer of quality, name-brand consumables and fresh products, currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Grocery Outlet’s current financial-year sales and earnings suggests growth of 11.2% and 4.9%, respectively, from the year-ago reported numbers. GO has a trailing four-quarter earnings surprise of 14.3%, on average.Ross Stores, which operates off-price retail apparel and home fashion stores, currently carries a Zacks Rank #2.The Zacks Consensus Estimate for Ross Stores’ current financial-year sales and earnings indicates growth of 8.1% and 19.4%, respectively, from the year-ago reported numbers. ROST has a trailing four-quarter earnings surprise of 11.4%, on average.Walmart, which operates a chain of hypermarkets, discount department stores and grocery stores, currently carries a Zacks Rank #2.The Zacks Consensus Estimate for Walmart’s current financial-year sales and earnings implies growth of 9.2% and 2.2%, respectively, from the year-ago reported numbers. WMT has a trailing four-quarter earnings surprise of 11.6%, on average. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Walmart Inc. (WMT): Free Stock Analysis Report Ross Stores, Inc. (ROST): Free Stock Analysis Report Ollie's Bargain Outlet Holdings, Inc. (OLLI): Free Stock Analysis Report Grocery Outlet Holding Corp. (GO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Here"s Why You Should Steer Clear Six Flags (SIX) Stock Now
Six Flags (SIX) is apprehensive about the uncertain macroeconomic environment and inflationary pressures. Also, dismal in-park spending per capita is a concern. Six Flags Entertainment Corporation SIX performance continues to be hurt by elevated inflationary pressures and dismal in-park spending per capita. Also, an uncertain macroeconomic environment is a concern. Consequently, the company’s shares have declined 1.4% in the past six months against the industry’s rise of 6.6%.Earnings estimates for 2023 and 2024 have been revised downward in the past 60 days by 40.8% and 16.6% to $1.25 and $2.11 per share, respectively. This depicts analysts’ concern regarding the stock’s growth potential.Let’s discuss the factors likely to impact this Zacks Rank #5 (Strong Sell) company’s growth potential.Image Source: Zacks Investment ResearchPrimary ConcernsSix Flags has been persistently shouldering increased expenses, which are detrimental to margins. During second-quarter 2023, SIX reported adjusted earnings per share (EPS) of 25 cents, down 63.8% year over year. In the reported quarter, the company witnessed a 69% year over year rise in selling, general, and administrative (SG&A) expenses, primarily due to an increase in the company's self-insurance reserve.During the second quarter of 2023, the company incurred $38 million in expenses due to revising estimated liabilities for its self-insurance reserves. The expenses primarily relate to general liability claims and are recorded in SG&A. The adjustment was not a result of increased incidents but was driven by broader factors, primarily the escalation of claim expenses due to inflation. This encompasses higher costs associated with legal proceedings and settlements, partly attributable to a general trend of larger monetary awards from juries. This trend has been affecting many industries, resulting in elevated settlement amounts and increased uncertainty in the financial outcomes of claims.For 2023, SIX anticipates cash operating costs to rise by approximately low to mid-single digits, driven by the challenges of inflationary pressures. Also, the company continues to invest in enhancing the guest experience and advertising. These cost hikes will be partly mitigated by the company's ongoing efforts in cost reduction.Nonetheless, the leisure industry is cyclical, as worsening global economic conditions might dent Six Flags’ revenues and profits. Consumer demand for services is closely linked to the performance of the general economy and is also sensitive to business and personal discretionary spending levels.The company's in-park spending per capita also dropped by 2% year-over-year in the reported quarter. This decline can be attributed to lower spending on parking, retail and flash passes, primarily due to a higher proportion of season pass attendance in the second quarter of 2023 than the previous year.High debt is a significant roadblock for the company. SIX ended the second quarter with cash and cash equivalents of $51.6 million compared with $80.1 million in the previous quarter. Long-term debt was $2.18 billion, slightly down from $2.28 billion reported at reported in the previous quarter. The debt-to-capitalization ratio at the end of the second quarter of 2023 was 183.8%, which indicates the company’s difficulty in managing high debt levels.Key PicksSome better-ranked stocks from the Zacks Consumer Discretionary sector are:Royal Caribbean Cruises Ltd. RCL currently sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has surged 107.2% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for RCL’s 2023 sales and EPS suggests growth of 55.3% and 181.9%, respectively, from the year-ago period’s levels.Hilton Worldwide Holdings Inc. HLT flaunts a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 12.5%, on average. The stock has gained 25.6% in the past year.The Zacks Consensus Estimate for HLT’s 2023 sales and EPS suggests increases of 14.8% and 23.7%, respectively, from the year-ago period’s levels.OneSpaWorld Holdings Limited OSW currently carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 42.6%, on average. The stock has gained 25.9% in the past year. The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates growth of 44.5% and 117.9%, respectively, from the year-ago period’s levels. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Royal Caribbean Cruises Ltd. (RCL): Free Stock Analysis Report Six Flags Entertainment Corporation New (SIX): Free Stock Analysis Report Hilton Worldwide Holdings Inc. (HLT): Free Stock Analysis Report OneSpaWorld Holdings Limited (OSW): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Pre-Markets Down on Real & Projected Headwinds
Early trading is at low levels of the pre-market so far, less than half an hour before the first opening bell of the week. Pre-market futures have dipped back into negative territory at this hour, continuing their downward trajectory from mid-last week. The Federal Open Market Committee (FOMC) kept interest rates steady at 5.25-5.50%, but projected rates to come down a scant 25 basis points (bps) by the end of next year. This is not where the bullish sentiment in the market resided; it came as a slap in the face to those who were hoping we’d be at 4% or lower by the end of 2024.Thus, over the past week of trading, indices have fallen between -2.16% on the Dow and -3.69% on the small-cap Russell 2000, with the Nasdaq and S&P 500 in the middle. All indices are up year to date, with the Russell and the Dow closest to dropping into the red — +1.32% and +2.62%, respectively. The tech-heavy Nasdaq, still enriched by the uber-positive A.I. story this past summer, is still up +35% from the start of the year, the S&P, also touched by the good news in tech, is +13% since the start of January.Currently, the Dow is down -120 points, the S&P is -20 and the Nasdaq -70 points. These are low levels of the pre-market so far, less than half an hour before the first opening bell of the week. It’s also the last week of trading for the month of September, which has lived up to its reputation as the worst trading month historically of the year. That said, there does not seem to be a rush to crash valuations harshly; market activity seems to continue to roll off a portion of gains — hopefully with the idea that we can close the year with a rally that doesn’t inflate valuations too far beyond.Not that we’ll be getting much help in the early part of this week in terms of economic data — nothing is scheduled for today. This changes, however, when we start getting Case-Shiller and other home pricing info, Durable Goods orders, and Friday’s Personal Consumption Expenditures (PCE) report, which is the Fed’s preferred metric for gauging economic health. Currently, core PCE year over year is expected to tick down 20 bps to +4.0%, a level we’ve not reached in roughly two years.We also see some sabre-rattling about a federal government shutdown on Capitol Hill, which would put an end to government economic reports for the time being, as well as lie dormant important functions of the government in assisting people’s lives. And, while we’re seeing some good news in Hollywood over the writers’ and actors’ strike, the United Autoworkers (UAW) walkout is now in its second week, with a plethora of headwinds threatening economic progress until a deal is reached.In short, the challenges are real, and the market is not ignoring them. While it doesn’t look so good on day-to-day stock market returns, we hold out some hope that what’s happening is investors acting responsibly in the face of an economy trying to figure out where it wants to go. Even the Fed’s “higher for longer” maxim speaks of responsible financial governance more than any real existential danger. If only other aspects of the federal government could act so responsibly.Questions or comments about this article and/or author? Click here>> 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Vail Resorts (MTN) Gears Up for Q4 Earnings: What"s in Store?
Strong performance of the Mountain segment's revenues is expected to have a positive impact on Vail Resorts' (MTN) top-line results in fourth-quarter fiscal 2023. Vail Resorts, Inc. MTN is scheduled to report fourth-quarter fiscal 2023 results on Sep 28, after the closing bell. In the last reported quarter, the company recorded a negative earnings surprise of 7.9%.How Are Estimates Placed?The Zacks Consensus Estimate for fiscal fourth-quarter is pegged at a loss of $3.28 per share compared with a loss of $2.70 reported in the prior-year quarter.For revenues, the consensus mark is pegged at $282.5 million. The metric suggests an increase of 5.7% from the year-ago quarter’s figure.Let's take a look at how things have shaped up in the quarter to be reported.Factors at PlayVail Resorts’ fourth-quarter fiscal 2023 top line is likely to have been driven by solid contributions from the Mountain segment’s revenues. Strength in destination visitation, and a solid lift in ticket sales at all North American destination Mountain resorts and regional ski areas are expected to have aided the company’s performance. Our model predicts the Mountain segment’s net revenues to rise 12.4% year over year to $207.7 million.MTN has been witnessing robust demand with respect to the Australian Ski season. Season to date (through Jun 1, 2023), its Epic Australia Pass sales were up 16% on a year-over-year basis. Along with securing reservations for the upcoming winter season in Australia, these passes establish early commitments from Australian guests for North American ski resorts in the 2023/2024 winter season. This positive performance bodes well for Australian and North American winter destinations.However, a rise in operating expenses is likely to have dented margins in the to-be-reported quarter. For the fiscal fourth quarter, our model suggests total segmental operating expenses to jump 9.8% year over year to $363.7 million. We estimate total Mountain operating expenses to climb 14.7% year over year to $283.4 million.Vail Resorts, Inc. Price, Consensus and EPS Surprise Vail Resorts, Inc. price-consensus-eps-surprise-chart | Vail Resorts, Inc. QuoteWhat the Zacks Model UnveilsOur proven model doesn’t conclusively predicts an earnings beat for Vail Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.Vail Resorts has an Earnings ESP of +0.61% and a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Stocks Poised to Beat Earnings EstimatesHere are some stocks that investors may consider as our model shows that these have the right combination of elements to post an earnings beat in the quarter to be reported.BJ's Restaurants, Inc. BJRI has an Earnings ESP of +133.33% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Shares of BJ's Restaurants have declined 0.8% in the past year. BJRI’s earnings outshined the consensus estimate in all the trailing four quarters, the average surprise being 121.2%.The Cheesecake Factory Incorporated CAKE has an Earnings ESP of +2.57% and a Zacks Rank #3 at present.Shares of Cheesecake have gained 1.4% in the past year. CAKE’s earnings outpaced the consensus estimate in three of the trailing four quarters and missed once, the average negative surprise being 24.7%.Chipotle Mexican Grill, Inc. CMG has an Earnings ESP of +0.99% and a Zacks Rank #3 at present.Shares of Chipotle have gained 22.4% in the past year. CMG’s earnings surpassed the consensus estimate in three of the trailing four quarters and missed once, the average surprise being 4.8%.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 BJ's Restaurants, Inc. (BJRI): Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG): Free Stock Analysis Report The Cheesecake Factory Incorporated (CAKE): Free Stock Analysis Report Vail Resorts, Inc. (MTN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Pre-Markets Slid to Start Last Week of a Volatile September
Pre-Markets Slid to Start Last Week of a Volatile September. Pre-market futures have dipped back into negative territory at this hour, continuing their downward trajectory from mid-last week. The Federal Open Market Committee (FOMC) kept interest rates steady at 5.25-5.50%, but projected rates to come down a scant 25 basis points (bps) by the end of next year. This is not where the bullish sentiment in the market resided; it came as a slap in the face to those who were hoping we’d be at 4% or lower by the end of 2024.Thus, over the past week of trading, indices have fallen between -2.16% on the Dow and -3.69% on the small-cap Russell 2000, with the Nasdaq and S&P 500 in the middle. All indices are up year to date, with the Russell and the Dow closest to dropping into the red — +1.32% and +2.62%, respectively. The tech-heavy Nasdaq, still enriched by the uber-positive A.I. story this past summer, is still up +35% from the start of the year, the S&P, also touched by the good news in tech, is +13% since the start of January.Currently, the Dow is down -120 points, the S&P is -20 and the Nasdaq -70 points. These are low levels of the pre-market so far, less than half an hour before the first opening bell of the week. It’s also the last week of trading for the month of September, which has lived up to its reputation as the worst trading month historically of the year. That said, there does not seem to be a rush to crash valuations harshly; market activity seems to continue to roll off a portion of gains — hopefully with the idea that we can close the year with a rally that doesn’t inflate valuations too far beyond.Not that we’ll be getting much help in the early part of this week in terms of economic data — nothing is scheduled for today. This changes, however, when we start getting Case-Shiller and other home pricing info, Durable Goods orders, and Friday’s Personal Consumption Expenditures (PCE) report, which is the Fed’s preferred metric for gauging economic health. Currently, core PCE year over year is expected to tick down 20 bps to +4.0%, a level we’ve not reached in roughly two years.We also see some sabre-rattling about a federal government shutdown on Capitol Hill, which would put an end to government economic reports for the time being, as well as lie dormant important functions of the government in assisting people’s lives. And, while we’re seeing some good news in Hollywood over the writers’ and actors’ strike, the United Autoworkers (UAW) walkout is now in its second week, with a plethora of headwinds threatening economic progress until a deal is reached.In short, the challenges are real, and the market is not ignoring them. While it doesn’t look so good on day-to-day stock market returns, we hold out some hope that what’s happening is investors acting responsibly in the face of an economy trying to figure out where it wants to go. Even the Fed’s “higher for longer” maxim speaks of responsible financial governance more than any real existential danger. If only other aspects of the federal government could act so responsibly. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 reportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Seagen"s (SGEN) Combo Drug Meets Goals in Bladder Cancer Study
Seagen (SGEN) announces positive top-line results from its late-stage study of the Padcev/Keytruda combo in the treatment of adult patients with metastatic bladder cancer. The stock of the company rises 3.5%. Seagen Inc. SGEN and partner, Astellas Pharma, announced positive top-line results from its late-stage study of the combination therapy of Padcev (enfortumab vedotin-ejfv) with Merck’s MRK Keytruda (pembrolizumab) for the treatment of adult patients with previously untreated locally advanced or metastatic urothelial cancer (la/mUC).The enrolled population for this study included previously untreated la/mUC patients who were eligible for cisplatin- or carboplatin-containing chemotherapy regardless of PD-L1 status.Per the data readout, the phase III EV-302 study met its co-primary endpoints of overall survival (OS) and progression-free survival compared with chemotherapy. An independent data monitoring body reaffirmed that the OS result exceeded efficacy expectations at interim analysis. Seagen will present detailed results from the study at an upcoming medical conference.The safety profile of the Padcev/Keytruda combination was consistent with previously reported safety data from prior studies of the combination therapy in cisplatin-ineligible patients with la/mUC.The stock of the company climbed 3.5% on Friday in response to the encouraging update from its bladder cancer study. Year to date, shares of Seagen have shot up 66.3% against the industry’s 16.1% fall.Image Source: Zacks Investment ResearchEnrolled patients in the phase III EV-302 study were randomized to receive either the combination therapy of Padcev and Keytruda, or chemotherapy.We would like to remind the investors, that in April 2023, the FDA granted accelerated approval to the Padcev/Keytruda combo for the treatment of adult patients with first and second-line metastatic urothelial cancer who are not eligible to receive cisplatin-containing chemotherapy. The accelerated nod was based on encouraging results from Seagen’s early-to-mid-stage EV-103 study, which was announced in September 2022.The EV-302 study is expected to serve as the confirmatory study for the continued approval of the Padcev/Keytruda combo in the United States in the above indication. The EV-302 study results are also intended to support global submissions for regulatory approvals of the combination therapy.SGEN’s Padcev was initially approved by the FDA in December 2019, on an accelerated basis for the treatment of patients with advanced/metastatic bladder cancer, who had received treatment with both a checkpoint inhibitor (PD-1/PD-L1) and platinum-based chemotherapy.The company is simultaneously evaluating the Padcev/Keytruda combo in other forms of bladder cancer as part of its extensive program, evaluating this combination in multiple stages of bladder cancer.The phase Ib/II EV-103 study is evaluating Padcev as a monotherapy or in combination with Keytruda and/or chemotherapy in first- or second-line settings in patients with la/mUC and muscle-invasive bladder cancer (MIBC).Two phase III studies, EV-304 and EV-303, are also currently ongoing to evaluate the Padcev/Keytruda combo in MIBC. Currently, Seagen does not have any evidence for the proven safety and efficacy of the Padcev/Keytruda combo in second-line urothelial cancer and MIBC.Keytruda, an anti-PD-1 therapy, is Merck’s blockbuster oncology drug and is approved for several types of cancer, accounting alone for around 40% of MRK’s pharmaceutical sales. Keytruda is presently approved to treat seven indications in earlier-stage cancers in the United States. Merck’s Keytruda is continuously growing and expanding into new indications and markets globally.Zacks Rank and Stocks to ConsiderSeagen currently has a Zacks Rank #4 (Sell).A few better-ranked stocks in the overall medical sector are Dynavax Technologies DVAX and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 30 days, the Zacks Consensus Estimate for Dynavax’s 2023 loss per share has narrowed from 24 cents to 23 cents. The estimate for Dynavax’s 2024 earnings per share is currently pegged at 3 cents. Year to date, shares of DVAX have risen by 28.2%.DVAX’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 25.78%.In the past 30 days, the Zacks Consensus Estimate for Corcept’s 2023 earnings per share has remained constant at 78 cents. The estimate for Corcept’s 2024 earnings per share has also remained constant at 83 cents. Year to date, shares of CORT have climbed 55.8%.CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Dynavax Technologies Corporation (DVAX): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report Seagen Inc. (SGEN): Free Stock Analysis Report Corcept Therapeutics Incorporated (CORT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
AstraZeneca"s (AZN) Dato-DXd Meets Goal in Breast Cancer Study
AstraZeneca (AZN) announces positive results from the late-stage study evaluating its antibody-drug conjugate, Dato-DXd, in pre-treated patients with HR+/HER2- metastatic breast cancer. AstraZeneca Plc AZN and its Japanese counterpart, Daiichi Sankyo, announced positive results from the late-stage study evaluating datopotamab deruxtecan (Dato-DXd) in the treatment of patients with inoperable or metastatic hormone receptor (HR)-positive, HER2-low or negative (IHC 0, IHC 1+ or IHC 2+/ISH-) breast cancer. The enrolled population for this study includes previously treated patients with endocrine-based therapy and at least one systemic therapy.Per the data readout from the TROPION-Breast01 phase III study, treatment with Dato-DXd in the enrolled patient population led to a statistically significant and clinically meaningful improvement for the primary endpoint of progression-free survival compared with the investigator’s choice of chemotherapy.AstraZeneca also reported observing an improvement trend for the co-primary endpoint of overall survival (OS) upon treatment with Dato-DXd against chemotherapy. However, at the time of the interim analysis, the OS data were not mature and the study will continue to assess the same.The safety profile of the drug was found to be consistent with previous studies in breast cancer. No new safety signals were identified.Dato-DXd is a TROP2-directed DXd antibody-drug conjugate, which is currently being jointly developed by AstraZeneca and Daiichi Sankyo.Shares of AstraZeneca climbed 1.2% on Friday in response to the encouraging news. Year to date, AZN stock failed to deliver any returns against the industry’s 5.7% rise.Image Source: Zacks Investment ResearchHR-positive, HER2-low or negative breast cancer is a common subtype, which is observed in approximately 65% of diagnosed breast cancer cases. Currently, the standard-of-care first-line treatment for breast cancer patients is endocrine therapy. However, per AstraZeneca, most patients with advanced breast cancer become resilient to treatment, representing a significant unmet medical need.Notably, AstraZeneca and Daiichi Sankyo are also currently evaluating Dato-DXd in two additional phase III studies in breast cancer. The TROPION-Breast02 study is evaluating the efficacy of Dato-DXd in comparison to chemotherapy in patients with previously untreated locally recurrent inoperable or metastatic triple negative breast cancer (TNBC), who are ineligible for anti-PDL1 therapy.On the other hand, the TROPION-Breast03 study is evaluating Dato-DXd both as a monotherapy and in combination with Imfinzi (durvalumab) against the investigator’s choice of therapy in patients with stage I-III TNBC with residual disease after neoadjuvant therapy.If successfully developed and approved, AstraZeneca and Daiichi Sankyo’s Dato-DXd will face direct competition from Gilead Sciences’ GILD Trodelvy (sacituzumab govitecan-hziy).Notably, in February 2023, the FDA expanded Trodelvy’s label to include the treatment of metastatic HR-positive, HER2-negative breast cancer in adults, who have previously been treated with endocrine-based therapy and additional systemic therapies. GILD’s Trodelvy is a first-in-class, Trop-2 directed antibody-drug conjugate, which has the same mechanism of action as AZN’s Dato-DXd.Trodelvy was previously approved under accelerated approval in the United States by the FDA for the treatment of metastatic TNBC, after the results from the confirmatory ASCENT study. It is also currently approved in the EU for the treatment of adult patients with metastatic TNBC and pre-treated HR+/HER2- metastatic breast cancer.Gilead’s Trodelvy enjoys accelerated approval in the United States for the treatment of certain patients with second-line metastatic bladder cancer.Zacks Rank and Stocks to ConsiderAstraZeneca currently has a Zacks Rank #3 (Hold).A few better-ranked stocks in the overall medical sector are Dynavax Technologies DVAX and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 30 days, the Zacks Consensus Estimate for Dynavax’s 2023 loss per share has narrowed from 24 cents to 23 cents. The estimate for Dynavax’s 2024 earnings per share is currently pegged at 3 cents. Year to date, shares of DVAX have risen by 28.2%.DVAX’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 25.78%.In the past 30 days, the Zacks Consensus Estimate for Corcept’s 2023 earnings per share has remained constant at 78 cents. The estimate for Corcept’s 2024 earnings per share has also remained constant at 83 cents. Year to date, shares of CORT have climbed 55.8%.CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 AstraZeneca PLC (AZN): Free Stock Analysis Report Dynavax Technologies Corporation (DVAX): Free Stock Analysis Report Gilead Sciences, Inc. (GILD): Free Stock Analysis Report Corcept Therapeutics Incorporated (CORT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
5 Sector ETFs That Beat the Market in Q3
After a solid start to the third quarter, Wall Street lost momentum on fears of higher rates for a longer-than-expected period and a slowing Chinese economy. The third quarter proved to be highly volatile and uncertain for the U.S. stock market. After a solid start to the third quarter, Wall Street lost momentum on fears of higher rates for a longer-than-expected period and a slowing Chinese economy. With just a week of trading left, the tech-heavy Nasdaq Composite Index has lost 4.2%, while the Dow Jones and S&P 500 are down 1.3% and 2.9%, respectively.Despite the weakness, a few sectors are still in green over the past three months. We have highlighted the top-performing ETFs from different sectors. These include Credit Suisse S&P MLP ETN MLPO, AdvisorShares Pure US Cannabis ETF MSOS, Sprott Junior Uranium Miners ETF URNJ, SPDR S&P Oil & Gas Equipment & Services ETF XES and Defiance Pure Electric Vehicle ETF EVXX.The Fed signaled one more rate hike this year if the economy and inflation don’t cool further. Both retail sales and inflation in the United States came in hotter than expected for August, suggesting resilience in the economy and persistent price pressures. These make a case for more Fed rate hikes. While inflation has fallen from a peak of 9.1%, it remains well above the Fed's 2% target despite an aggressive interest rate hike campaign (read: Bet on Quality ETFs as Fed Keeps Rate Steady, View Hawkish).The latest data also showed that U.S. industrial production continued to expand in August, beating expectations even though the pace of increase decreased due to sluggish manufacturing growth. On the other hand, U.S. consumer sentiment slipped for the second straight month in September as the University of Michigan's preliminary reading of its Consumer Sentiment Index dropped to 67.7 from the final reading of 69.5 in August. But the economic outlook brightened modestly as household expectations for near-term inflation fell to the lowest in more than a year, according to a survey.China, the engine of global growth, is caught in deep trouble, given falling consumer prices, a deepening real estate crisis, slumping exports and a record-high youth unemployment rate. However, the latest data on upbeat retail sales and industrial production suggests that the economy picked up steam last month, easing concerns about growth in the world's second-largest economy.ETFs in FocusWe have profiled the abovementioned ETFs in detail below:Credit Suisse S&P MLP ETN (MLPO) – Up 48%Amid volatility in the stock market, this overlooked corner is making great strides. MLPs have relatively consistent cash flows, making them less risky than the other plays in the broader energy space. These represent an attractive investment option for income-focused investors as MLPs pay out substantially all their income to investors on a regular basis. In addition to high yields and the potential for capital appreciation, MLPs also have lower volatility and provide diversification benefits to the portfolio.Credit Suisse S&P MLP ETN is linked to the S&P MLP Index, which includes both master limited partnerships and publicly traded limited liability companies having a similar legal structure to MLPs and sharing the same tax benefits. It is unpopular and illiquid in the MLP space, with AUM of $32 million and an average daily volume of nearly 5,000 shares. The note charges 95 bps in annual fees (read: MLP ETFs for Growth & Juicy Yields).AdvisorShares Pure US Cannabis ETF (MSOS) – Up 45.9%Marijuana stocks have been surging following a proposal by the Drug Enforcement Agency to reclassify cannabis as a substance with reduced risk, fueling anticipation of federal legalization. The news has led to huge optimism across the marijuana industry. AdvisorShares Pure US Cannabis ETF is the first actively managed U.S.-listed ETF with dedicated cannabis exposure, focusing exclusively on U.S. companies, including multi-state operators. It holds 28 securities in its basket with a double-digit concentration on the top four firms.AdvisorShares Pure US Cannabis ETF has amassed $602.4 million in its asset base while trading in an average daily volume of $6 million shares. It charges 80 bps in annual fees (read: Behind the Recent Surge in Marijuana ETFs).Sprott Junior Uranium Miners ETF (URNJ) – Up 15.8%Uranium price has been witnessing a significant surge, driven by an upbeat demand forecast and lingering supply concerns amid the chances of sanctions affecting Russia's nuclear fuel supply. Interest in nuclear power is also on the rise, presenting a promising opportunity for investors who anticipate global concerns about climate change to drive increased demand for this energy source. Sprott Junior Uranium Miners ETF is the only pure-play ETF focused on small uranium miners, selected for their potential for significant revenue and asset growth.Sprott Junior Uranium Miners ETF is focused on the Nasdaq Sprott Junior Uranium Miners Index, which is designed to track the performance of mid-, small- and micro-cap companies in uranium-mining-related businesses. It holds 29 stocks in its basket and charges 80 bps in annual fees. Sprott Junior Uranium Miners ETF has accumulated $84.6 million in its asset base and trades in an average daily volume of 113,000 shares.SPDR S&P Oil & Gas Equipment & Services ETF (XES) – Up 31.5%The energy sector made a solid comeback in the third quarter on a recovery in oil prices on tightening supply conditions and the prospect of higher demand. The global oil market is expected to face the biggest deficit in over a decade. World oil demand is scaling record highs. SPDR S&P Oil & Gas Equipment & Services ETF tracks the S&P Oil & Gas Equipment & Services Select Industry Index, which measures the performance of the companies engaged in the oil and gas equipment and services industry. It holds 31 stocks in its basket with AUM of $428.4 million.SPDR S&P Oil & Gas Equipment & Services ETF charges 35 bps in fees per year from investors and trades in an average daily volume of 117,000 shares. It has a Zacks ETF Rank #3 (Hold) with a High risk outlook.Defiance Pure Electric Vehicle ETF (EVXX) – Up 22.3%The electric vehicles market is experiencing a boom, with global leaders wanting millions of them on the roads in the next decade. The sector is expected to expand at a compound annual growth rate (CAGR) of 15.9% between 2023 and 2035, according to a new report from data and analytics company GlobalData. Defiance Pure Electric Vehicle ETF is an actively managed fund that seeks to track the performance of a basket of common shares, which are equally weighted on a quarterly basis, of the five largest (by market capitalization) electric vehicle manufacturers included in the Solactive Pure US Electric Vehicle Index. It charges 68 bps in annual fees and trades in a light volume of 10,000 shares. Defiance Pure Electric Vehicle ETF debuted in the space in June and has accumulated $5.2 million since then. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>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 SPDR S&P Oil & Gas Equipment & Services ETF (XES): ETF Research Reports Credit Suisse S&P MLP Index ETN (MLPO): ETF Research Reports AdvisorShares Pure US Cannabis ETF (MSOS): ETF Research Reports Sprott Junior Uranium Miners ETF (URNJ): ETF Research Reports Defiance Pure Electric Vehicle ETF (EVXX): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Installed Building (IBP) Gains 61% in a Year: What"s Driving It?
Installed Building (IBP) banks on profitable acquisitions, diversified product portfolio and end-markets, and efficient capital-allocation strategy. Installed Building Products, Inc. IBP is benefiting from solid buyouts, diversified end markets and product portfolio accompanied by its focus on capital-allocation strategy.The company reported impressive second-quarter 2023 results, wherein its earnings and net revenues topped the Zacks Consensus Estimate by 12.5% and 3.8%, respectively. The metrics grew year over year as well. The uptrend was attributable to the increased demand for new residential (notably multi-family) and commercial construction activities along with profitable acquisitions. The residential housing construction activities have been a stable form of income for the company and given the current low supply of existing homes, this metric is boosting growth.Shares of IBP have surged 61.2% in the past year, outperforming the Zacks Building Products - Miscellaneous industry’s 39.3% growth.Image Source: Zacks Investment ResearchThis Zacks Rank #1 (Strong Buy) company topped the earnings estimates in 10 out of the trailing 14 quarters.Earnings estimates for 2023 have increased to $9.72 per share from $8.68 per share, over the past 60 days, portraying an 8.6% year-over-year growth. The positive trend signifies bullish analysts’ sentiments, robust fundamentals, and the continuation of an outperformance in the near term.Here’s What Makes the Stock a Desirable PickAccretive Acquisitions: Installed Building follows a strategic buyout strategy, which intends to enhance as well as expand its product portfolio and geographical reach. In the second quarter of 2023 the company acquired Insulco Insulation, LLC., a Florida-based installer of fiberglass and spray foam insulation with annual revenues of approximately $3 million, and AGT&L, Inc., a Texas-based installer of fiberglass, spray foam, and cellulose insulation with annual revenues of approximately $3 million. These buyouts contribute to the company’s strategy of diversifying its end markets and increasing market share. Furthermore, strategic acquisitions, which were completed in the past few years, contributed 2.3% growth to the company’s second quarter’s net revenues compared with the prior-year period. Year to date, the company completed four business combinations and one tuck-in acquisition merged into an existing operation, delivering about $48 million of annual revenues. For the remaining part of 2023, it expects to complete acquisitions worth at least $100 million of annual revenues.Diversified End-Markets & Product Offerings: The company has diversified end-markets comprising single-family, multi-family and commercial businesses, which drives its growth momentum even during an uncertain economic scenario. IBP is benefiting from the current housing market scenario of low existing home inventory levels as it is boosting the demand for new homes. This reflects in the company’s multi-family business results, which increased 38% on a same branch basis during the second quarter of 2023, majorly offsetting the softer single-family sales. Moreover, in the quarter the company also witnessed sequential and year-over-year improvements in its commercial business.IBP also has a wide variety of product offerings including insulation products, garage doors, window blinds, rain gutters, hardware necessities and other commercial products. This diversity allows the company to reach out to multiple end markets and increase its market share among its peers. For the long term, the company is optimistic about its opportunities in the residential and commercial end markets, given the cyclical nature of the housing industry.Capital Allocation Initiatives: IBP focuses on strategic capital allocation initiatives, which drive its profitability and growth prospects. The company allocates its capital as per the market upgradations and enhancements along with ensuring shareholder value. The effective capital mix enables it to ensure functional efficiencies and drive growth momentum even in this uncertain market.In the second quarter of 2023, it generated $64.3 million of operating cash flow, which contributed to IBP’s financial flexibility given its asset-light business model. Furthermore, the company has a target leverage ratio of 1.3x as of the quarter.Other Key PicksSome other top-ranked stocks from the Construction sector are EMCOR Group, Inc. EME, TopBuild Corp. BLD and Fluor Corporation FLR.EMCOR currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.EME delivered a trailing four-quarter earnings surprise of 17.2%, on average. Shares of the company have risen 82.8% in the past year. The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) indicates growth of 11.7% and 36.2%, respectively, from the previous year’s reported levels.TopBuild currently sports a Zacks Rank of 1. BLD delivered a trailing four-quarter earnings surprise of 14.1%, on average. Shares of the company have risen 60.7% in the past year.The Zacks Consensus Estimate for BLD’s 2023 sales and EPS indicates growth of 3.3% and 8.4%, respectively, from the previous year’s reported levels.Fluor currently sports a Zacks Rank of 1. FLR delivered a trailing four-quarter negative earnings surprise of 5.3%, on average. Shares of the company have gained 53.3% in the past year.The Zacks Consensus Estimate for FLR’s 2023 sales and EPS indicates growth of 11.3% and 141.5%, respectively, from the previous year’s reported levels. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Fluor Corporation (FLR): Free Stock Analysis Report EMCOR Group, Inc. (EME): Free Stock Analysis Report TopBuild Corp. (BLD): Free Stock Analysis Report Installed Building Products, Inc. (IBP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Delta (DAL) Expands 2024 Trans-Atlantic Summer Schedule
An uptick in air-travel demand prompts Delta (DAL) to announce the huge trans-Atlantic schedule for the next year. Delta Air Lines’ DAL management announced that it aims to operate its largest-ever trans-Atlantic flight schedule ever, in the summer of 2024. We believe that the decision is a prudent one, in view of the fact that international air-travel has come roaring back in the post pandemic scenario.The Atlanta-based carrier announced that from New York JFK nearly 260 weekly flights will operate to 29 destinations in Europe, Africa and the Middle East. As part of the schedule, DAL will launch its nonstop JFK-Naples service on May 23, 2024. The new route complements its existing service to Milan, Venice and Rome.On the same day, Delta will resume Shannon, Ireland - JFK route, after a five-year COVID-19 induced hiatus. Another new trans-Atlantic service to be introduced from JFK next summer is a nonstop flight to Munich. The flight will operate thrice a week from Apr 9, 2024.The planned schedule also includes the resumption of Atlanta- Zurich service. Non-stop flights on this route will operate four times a week from May 31, 2024. From Atlanta, DAL aims to operate nearly 180 weekly flights to 21 destinations in Europe, Africa and the Middle East.Moreover, management aims to extend flights from Los Angeles to Auckland, New Zealand to year-round from the originally planned winter seasonal service. Flights on this route will operate daily from November 2023 to March 2024 and three times weekly from April 2024 to October 2024. DAL also intends to increase operations from Los Angeles to Sydney, Australia, to twice-daily from December, 2023.Zacks Rank & Key PicksDelta currently carries a Zacks Rank #3 (Hold).Investors interested in the Zacks Transportation sector may consider stocks like Covenant Logistics CVLG and Air Canada ACDVF. CVLG and ACDVF currently carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.CVLG offers a portfolio of transportation and logistics services including asset-based expedited, dedicated and irregular route truckload capacity, asset-light warehousing, transportation management and freight brokerage capability.CVLG’s cost-control efforts are commendable. The Zacks Consensus Estimate for 2023 earnings has revised 7.44% upward in the past 60 days.An uptick is aiding Air Canada in passenger traffic. Recently, management announced plans to launch a new year-round route between Montreal and Madrid. The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand.The Zacks Consensus Estimate for current-year earnings has jumped 57.1% in the past 60 days. ACDVF has outshined the Zacks Consensus Estimate in two of the past four quarters (missing the mark in the other two). 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Delta Air Lines, Inc. (DAL): Free Stock Analysis Report Air Canada (ACDVF): Free Stock Analysis Report Covenant Logistics Group, Inc. (CVLG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Global Payments (GPN) Jumps 20% in 6 Months: More Growth Ahead?
Global Payments (GPN) is poised for long-term growth due to the rising demand for digital payment methods amid the growing digitalization of economies worldwide. Global Payments Inc. GPN shares have jumped 20.2% in the past six months, outperforming the 6.8% increase of the industry, as investors like the solid contributions from its merchant and core issuer businesses. Also, its strong 2023 guidance and transaction growth are benefiting the stock.Headquartered in Atlanta, GA, Global Payments is a payment technology and software solutions services provider worldwide. It has a market cap of $31 billion and currently has a Zacks Rank #3 (Hold).Image Source: Zacks Investment ResearchCan GPN Retain Momentum?The answer is yes, thanks to the rising estimates, and growing operating and financial strengths.The Zacks Consensus Estimate for 2023 earnings per share currently stands at $10.40, implying an 11.6% year-over-year increase. It has witnessed 10 upward estimate revisions in the past 60 days against one in the opposite direction. GPN beat earnings estimates in two of the last four quarters and missed on the other occasions, with an average surprise of 1.1%.The Zacks Consensus Estimate for 2023 revenues is pegged at $8.7 billion, indicating a 7.2% year-over-year rise. This company is poised for long-term growth due to solid digital payment prospects.With the rising demand for digital payment methods amid the growing digitalization of economies worldwide, Global Payments’ services are expected to generate a high yield. An increase in the middle-class demographic in emerging markets is likely to fuel growth. This is expected to bring more traffic to its network and boost transaction volumes.In 2023, our estimate for revenues from the Merchant Solutions business indicates 16% year-over-year growth. New sales and the acquisition of the EVO business are expected to contribute to the upside. Similarly, core issuer growth and expanding commercial card transactions are likely to aid its Issuer Solutions business. We expect revenues from this unit to jump nearly 6% in 2023 from the year-ago levels.The stock is significantly undervalued than the industry at the moment. It is trading at forward 12-month price to earnings of 10.35X, lower than the industry average of 20.62X.Also, GPN’s strong financial flexibility is commendable. It had nearly $1.9 billion of cash and cash equivalents at June-end compared with the current portion of long-term debt of $75.7 million. Moreover, the company’s operating cash flows have been increasing over the years. It estimates to generate $15 billion of adjusted free cash flow cumulatively for the 2021-2025 period. Global Payments generated almost $1.2 billion of operating cash flow in the first half of 2023.RisksDespite the upside potential, there are a few factors that can hold back GPN’s growth. Rising operating costs are hampering its margins. For 2023, we expect adjusted total operating expenses to increase 5% year over year.Also, emerging payment companies with significant growth are rapidly capturing markets, which can put pressure on GPN’s prices. Nevertheless, we believe that a systematic and strategic plan of action will drive its long-term growth.Key Picks in Business ServicesSome better-ranked stocks in the broader Business Services sector are Shift4 Payments, Inc. FOUR, Paysafe Limited PSFE and FirstCash Holdings, Inc. FCFS. While Shift4 Payments currently sports a Zacks Rank #1 (Strong Buy), Paysafe and FirstCash each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Shift4 Payments’ current-year bottom line suggests 100.7% year-over-year growth. Based in Allentown, PA, FOUR beat earnings estimates in all the past four quarters, with an average surprise of 21.9%.The Zacks Consensus Estimate for Paysafe’s current-year bottom line suggests 5.8% year-over-year growth. Headquartered in London, PSFE beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 154%.The Zacks Consensus Estimate for FirstCash’s current-year earnings indicates a 6.7% year-over-year increase. Fort Worth, TX-based FCFS beat earnings estimates in all the past four quarters, with an average surprise of 7.3%. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 FirstCash Holdings, Inc. (FCFS): Free Stock Analysis Report Global Payments Inc. (GPN): Free Stock Analysis Report Shift4 Payments, Inc. (FOUR): Free Stock Analysis Report Paysafe Limited (PSFE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
UBSFY vs. SCPL: Which Stock Is the Better Value Option?
UBSFY vs. SCPL: Which Stock Is the Better Value Option? Investors with an interest in Gaming stocks have likely encountered both UbiSoft Entertainment Inc. (UBSFY) and SciPlay (SCPL). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.Currently, UbiSoft Entertainment Inc. has a Zacks Rank of #2 (Buy), while SciPlay has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that UBSFY has an improving earnings outlook. But this is only part of the picture for value investors.Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.UBSFY currently has a forward P/E ratio of 18.67, while SCPL has a forward P/E of 21.99. We also note that UBSFY has a PEG ratio of 0.43. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. SCPL currently has a PEG ratio of 3.56.Another notable valuation metric for UBSFY is its P/B ratio of 2.16. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, SCPL has a P/B of 4.16.These metrics, and several others, help UBSFY earn a Value grade of A, while SCPL has been given a Value grade of C.UBSFY stands above SCPL thanks to its solid earnings outlook, and based on these valuation figures, we also feel that UBSFY is the superior value option right now. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 UbiSoft Entertainment Inc. (UBSFY): Free Stock Analysis Report SciPlay Corporation (SCPL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
CINF or PGR: Which Is the Better Value Stock Right Now?
CINF vs. PGR: Which Stock Is the Better Value Option? Investors with an interest in Insurance - Property and Casualty stocks have likely encountered both Cincinnati Financial (CINF) and Progressive (PGR). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.Currently, Cincinnati Financial has a Zacks Rank of #2 (Buy), while Progressive has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that CINF has an improving earnings outlook. But this is only part of the picture for value investors.Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.CINF currently has a forward P/E ratio of 21.42, while PGR has a forward P/E of 30.64. We also note that CINF has a PEG ratio of 1.21. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. PGR currently has a PEG ratio of 1.23.Another notable valuation metric for CINF is its P/B ratio of 1.52. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, PGR has a P/B of 5.17.These metrics, and several others, help CINF earn a Value grade of B, while PGR has been given a Value grade of C.CINF stands above PGR thanks to its solid earnings outlook, and based on these valuation figures, we also feel that CINF is the superior value option right now. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Cincinnati Financial Corporation (CINF): Free Stock Analysis Report The Progressive Corporation (PGR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
CCU or SAM: Which Is the Better Value Stock Right Now?
CCU vs. SAM: Which Stock Is the Better Value Option? Investors looking for stocks in the Beverages - Alcohol sector might want to consider either Cervecerias Unidas (CCU) or Boston Beer (SAM). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.Cervecerias Unidas and Boston Beer are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that CCU is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.CCU currently has a forward P/E ratio of 10.76, while SAM has a forward P/E of 49.26. We also note that CCU has a PEG ratio of 0.50. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. SAM currently has a PEG ratio of 1.87.Another notable valuation metric for CCU is its P/B ratio of 1.31. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, SAM has a P/B of 4.26.These are just a few of the metrics contributing to CCU's Value grade of A and SAM's Value grade of C.CCU stands above SAM thanks to its solid earnings outlook, and based on these valuation figures, we also feel that CCU is the superior value option right now. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Compania Cervecerias Unidas, S.A. (CCU): Free Stock Analysis Report The Boston Beer Company, Inc. (SAM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
UOVEY vs. TD: Which Stock Is the Better Value Option?
UOVEY vs. TD: Which Stock Is the Better Value Option? Investors with an interest in Banks - Foreign stocks have likely encountered both United Overseas Bank Ltd. (UOVEY) and Toronto-Dominion Bank (TD). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.Right now, United Overseas Bank Ltd. is sporting a Zacks Rank of #2 (Buy), while Toronto-Dominion Bank has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that UOVEY is likely seeing its earnings outlook improve to a greater extent. But this is just one piece of the puzzle for value investors.Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.UOVEY currently has a forward P/E ratio of 8.31, while TD has a forward P/E of 10.10. We also note that UOVEY has a PEG ratio of 1.24. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. TD currently has a PEG ratio of 2.05.Another notable valuation metric for UOVEY is its P/B ratio of 1. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, TD has a P/B of 1.46.These are just a few of the metrics contributing to UOVEY's Value grade of B and TD's Value grade of F.UOVEY stands above TD thanks to its solid earnings outlook, and based on these valuation figures, we also feel that UOVEY is the superior value option right now. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 United Overseas Bank Ltd. (UOVEY): Free Stock Analysis Report Toronto Dominion Bank (The) (TD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
NFG or NJR: Which Is the Better Value Stock Right Now?
NFG vs. NJR: Which Stock Is the Better Value Option? Investors interested in stocks from the Utility - Gas Distribution sector have probably already heard of National Fuel Gas (NFG) and New Jersey Resources (NJR). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.National Fuel Gas has a Zacks Rank of #2 (Buy), while New Jersey Resources has a Zacks Rank of #3 (Hold) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that NFG is likely seeing its earnings outlook improve to a greater extent. But this is only part of the picture for value investors.Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.NFG currently has a forward P/E ratio of 10, while NJR has a forward P/E of 16.14. We also note that NFG has a PEG ratio of 0.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NJR currently has a PEG ratio of 2.69.Another notable valuation metric for NFG is its P/B ratio of 1.63. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, NJR has a P/B of 2.06.Based on these metrics and many more, NFG holds a Value grade of A, while NJR has a Value grade of C.NFG has seen stronger estimate revision activity and sports more attractive valuation metrics than NJR, so it seems like value investors will conclude that NFG is the superior option right now. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 National Fuel Gas Company (NFG): Free Stock Analysis Report NewJersey Resources Corporation (NJR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
PSFE vs. DLO: Which Stock Is the Better Value Option?
PSFE vs. DLO: Which Stock Is the Better Value Option? Investors looking for stocks in the Financial Transaction Services sector might want to consider either Paysafe Limited (PSFE) or DLocal (DLO). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.Paysafe Limited and DLocal are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that PSFE is likely seeing its earnings outlook improve to a greater extent. But this is just one piece of the puzzle for value investors.Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.PSFE currently has a forward P/E ratio of 5.05, while DLO has a forward P/E of 32.53. We also note that PSFE has a PEG ratio of 0.48. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. DLO currently has a PEG ratio of 1.02.Another notable valuation metric for PSFE is its P/B ratio of 0.83. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, DLO has a P/B of 14.37.Based on these metrics and many more, PSFE holds a Value grade of B, while DLO has a Value grade of D.PSFE sticks out from DLO in both our Zacks Rank and Style Scores models, so value investors will likely feel that PSFE is the better option right now. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Paysafe Limited (PSFE): Free Stock Analysis Report DLocal Limited (DLO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Top Analyst Reports for Microsoft, UnitedHealth & HSBC
Today's Research Daily features new research reports on 16 major stocks, including Microsoft Corporation (MSFT), UnitedHealth Group Incorporated (UNH) and HSBC Holdings plc (HSBC). Monday, September 25, 2023The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Microsoft Corporation (MSFT), UnitedHealth Group Incorporated (UNH) and HSBC Holdings plc (HSBC). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>Microsoft shares have gained +33.1% over the year-to-date period against the Zacks Computer - Software industry’s gain of +34.3%, but have handily outperformed the broader market's +13.7% gain. The company is benefitting from consistent execution across renewal sales motions, including strong recapture rates and slow yet steady growth in Azure cloud platform amid accelerated global digital transformation.Solid adoption of ChatGPT, the popular chatbot from OpenAI, remains a tailwind. Slow yet steady performance of Office 365 and Dynamics is aiding user growth thereby driving the top-line. Strength in Marketing Solutions and steady performance in Talent Solutions is driving LinkedIn revenues boosted by recovery in advertising and job market.However, a slowdown in its cloud business and declining videogame sales are overhangs. Decrease in demand for Xbox content and services and increasing spend on Azure enhancements amid stiff competition in the cloud space remains a concern.(You can read the full research report on Microsoft here >>>)Shares of UnitedHealth have gained +5.9% over the past six months against the Zacks Medical - HMOs industry’s gain of +7%. The company’s top line remains well-poised for growth on the back of a strong market position, new deals, renewed agreements and expansion of service offerings.UnitedHealth’s solid health services segment provides diversification benefits. The Government business remains well-poised for growth. A sturdy balance sheet enables business investments and prudent deployment of capital via share repurchases and dividends.However, membership in its global business continues to decline. High operating costs are hurting margins. As such, the stock warrants a cautious stance.(You can read the full research report on UnitedHealth here >>>)Shares of HSBC have outperformed the Zacks Banks - Foreign industry over the year-to-date period (+34.2% vs. +12.4%). A strong capital position, high interest rates, an extensive network and business restructuring initiatives will support the company’s prospects going forward.HSBC is winding down retail operations in France, New Zealand and Canada and fully exiting Russia. These are expected to further help the bank to focus more on the Asia region. While efforts to improve market share in the region will aid financials, these will lead to a rise in expenses. Management expects expenses to increase 3% this year, and the acquisition of SVB UK will likely add another 1% to it.The worsening macroeconomic operating backdrop is a major headwind. Nonetheless, the company’s strong brand value and widespread network will help it attract more clients. Its capital distributions remain decent.(You can read the full research report on HSBC here >>>)Other noteworthy reports we are featuring today include Philip Morris International Inc. (PM), International Business Machines Corporation (IBM) and Honeywell International Inc. (HON).Director of ResearchSheraz MianNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>Today's Must ReadAdoption of Cloud & Office 365 Strength Aid Microsoft (MSFT)UnitedHealth (UNH) Strong on Top Line & Strong Cash FlowsBusiness Restructuring, Focus on Asia, Rates Aid HSBC (HSBC)Featured ReportsPhilip Morris (PM) Gains From Solid Pricing Amid Cost WoesPer the Zacks analyst, Philip Morris has been benefiting from its solid pricing power amid cost inflation. Higher pricing variance aided the company's net revenues during the second quarter of 2023.IBM Rides on Strong Demand for Hybrid Cloud and AI SolutionsPer the Zacks analyst, IBM is expected to gain from rising demand for its enterprise focused AI-powered platform Watsonx. Growing cloud adoption and strong free cash flow generation are tailwinds.Aerospace Aids Honeywell (HON), Safety and Productivity AilsThe Zacks analyst is encouraged by strength in the Aerospace unit due to strong commercial aftermarket demand. However, weakness in the Safety and Productivity Solutions unit raises concerns.Kinder Morgan (KMI) Banks on Stable Fee-Based RevenuesKinder Morgan boasts stable fee-based revenues from its extensive natural gas pipeline network. Yet, significant debt exposure concerns the Zacks analyst.Yum! Brands (YUM) Banks on Solid Comps Growth Amid High CostPer the Zacks analyst, notable comps growth driven by enhanced digital and unit expansion initiatives aid YUM! Brands. However, high costs and challenging macro environment hurt growth prospects.Campbell Soup's (CPB) Top Line to Gain on Solid Snacks UnitPer the Zacks analyst, Campbell Soup is set to keep gaining from focus on strengthening the growing snacks category. Sales from the unit rose 8% and formed 54.7% of top line in fiscal-fourth quarter.Qinlock Sales Boost Deciphera (DCPH), Overdependence a WoePer the Zacks Analyst, Qinlock has been generating steady revenues for Deciphera, simultaneously working on its label expansion. However, the overdependence on Qinlock for cash flow remains a woe. New UpgradesArch Capital (ACGL) Set to Grow on Solid Premium GrowthPer the Zacks analyst, Arch Capital is set to grow on solid Insurance and Reinsurance business driving improvement in premium growth which is backed by diverse product & service portfolio.Penumbra (PEN) Rides on Solid Vascular Sales, Global GrowthPenumbra's Vascular growth globally is a major positive. Per the Zacks analyst, differentiated technologies of Lightning Flash and Lightning Bolt 7 leading to strong patient outcomes is a key driver.E-commerce & Fleet Growth Aid Air Transport Services (ATSG)The Zacks analyst is impressed by Air Transport Services' e-commerce growth even in the post-pandemic scenario. Also, its fleet modernization techniques are tailwinds.New DowngradesComponent Shortage, Forex Risk May Hurt SolarEdge (SEDG)Per the Zacks analyst, components shortages in the automotive industry caused delays in orders for SolarEdge's powertrain units in recent past. The stock also faces foreign currency exchange risk.Paramount Global (PARA) Hurt By Dull Media Advertising RevenuesPer the Zacks analyst, sluggish media advertising revenues and declining domestic affiliate revenues are major headwinds for Paramount Global.UMB Financial (UMBF) Hurt by Higher Expenses, Loan ConcentrationPer the Zacks analyst, an increase in non-interest expenses, intense competition and high exposure to commercial loans can be risky for UMB Financial, amid uncertain macroeconomic conditions. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Microsoft Corporation (MSFT): Free Stock Analysis Report UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report International Business Machines Corporation (IBM): Free Stock Analysis Report Honeywell International Inc. (HON): Free Stock Analysis Report Philip Morris International Inc. (PM): Free Stock Analysis Report HSBC Holdings plc (HSBC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
HighPeak Energy, Inc. (HPK) Surges 6.2%: Is This an Indication of Further Gains?
HighPeak Energy, Inc. (HPK) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road. HighPeak Energy, Inc. (HPK) shares soared 6.2% in the last trading session to close at $16.86. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.6% gain over the past four weeks.HighPeak Energy ended sharply higher on the last trading day, driven by optimism over oil prices due to production cuts by Saudi Arabia and Russia. The recent strength in crude prices — to a 10-month high above $90 — and robust demand for energy is set to push drilling activity higher and contributed to the strength in HighPeak Energy, whose productive capacity is based in West Texas’ Midland Basin. Russia’s recent announcement to temporarily ban the export of diesel and gasoline, is also having a positive effect on the broader sector as well as the company.This company is expected to post quarterly earnings of $0.54 per share in its upcoming report, which represents a year-over-year change of -36.5%. Revenues are expected to be $287.65 million, up 40.9% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For HighPeak Energy, Inc., the consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HPK going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>HighPeak Energy, Inc. is a member of the Zacks Oil and Gas - Exploration and Production - United States industry. One other stock in the same industry, Matador Resources (MTDR), finished the last trading session 0.3% lower at $57.26. MTDR has returned -4.2% over the past month.Matador's consensus EPS estimate for the upcoming report has changed +2.2% over the past month to $1.52. Compared to the company's year-ago EPS, this represents a change of -43.3%. Matador currently boasts a Zacks Rank of #3 (Hold). 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 HighPeak Energy, Inc. (HPK): Free Stock Analysis Report Matador Resources Company (MTDR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Citigroup (C) Warns of Potential Layoffs in Its UK Business
As part of the previously announced reorganization efforts, Citigroup (C) alerts employees in the U.K. of probable job cuts. Citigroup Inc. C alerted employees in the U.K. of probable redundancies as part of the bank’s previously announced reorganization efforts. The news was first reported by Reuters that cited a memo.Citigroup’s U.K. business has 16,000 employees but it was unclear which areas of the bank’s U.K. business will be affected by the job cuts. Markedly, as many as hundreds of roles are expected to be affected. The company is likely to set up a consultation process, whereby employees can give their feedback. Per local rules, organizations must consult with staff when there are more than 20 redundancies.The move comes at the heels of Citigroup CEO Jane Fraser’s effort to revamp the company’s corporate structure. Particularly, earlier this month, C announced an organizational restructuring to simplify and eliminate extra management layers. The new model removes management layers in Personal Banking & Wealth Management, and the Institutional Clients Group. The bank also reduces existing regional layers in the Asia Pacific, Europe, Middle East and Africa, and Latin America.Specifically, the leaders of each of C’s five main businesses — Banking, Markets, Services, Global Wealth Management and U.S. Personal Banking — will report directly to CEO Jane Fraser and be members of the executive management team.The company also consolidates the leadership of the firm’s international business under Ernesto Torres Cantú, head of international business. Also, the Banking and International segments will share a common management team to facilitate better connectivity for clients.Over the past six months, shares of Citigroup have declined 8.7% against the industry’s rise of 2.7%. Image Source: Zacks Investment Research Currently, Citigroup carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Similar to Citigroup, Wells Fargo & Company WFC and The Goldman Sachs Group, Inc. GS have been reducing their workforces.At a recent investor conference, Wells Fargo’s chief financial officer, Mike Santomassimo, noted that the company is eyeing opportunities to cut down expenses by reducing its real estate footprint and headcount.Since third-quarter 2020, WFC has cut almost 40,000 jobs. Santomassimo noted, “We had too much real estate before Covid, and so we’ve been methodically working through that portfolio over the last few years.”GS is planning another wave of job cuts that could take place as soon as next month, per a Financial Times article. This is part of its yearly practice of letting go of those employees deemed the lowest performers.The expected move usually affects 1-5% of GS’s total staff. The company is aiming to cut jobs at the lower end of the range, primarily in its main business divisions like investment banking and trading. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report Wells Fargo & Company (WFC): Free Stock Analysis Report Citigroup Inc. (C): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Can Store Initiatives Aid Dollar Tree (DLTR) Amid Cost Hike?
Despite inflationary headwinds, Dollar Tree's (DLTR) store optimization and expansion strategies are likely to help the stock get back on track. Dollar Tree DLTR has been benefitting from store openings, renovations, re-banners and closings. Also, its Key Real Estate Initiatives, which include the expansion of its $3 and $5 plus assortment in Dollar Tree stores, as well as Combo Stores, bode well.The company has been aggressively expanding its $3, $4 and $5 frozen and refrigerated products across the Dollar Tree store base. In the fiscal second quarter, the company’s Dollar Tree Plus assortments were available in more than 3,600 locations and the $3, $4 and $5 frozen and refrigerated assortments were available in 5,600 stores. DLTR plans to add this multiple-price-point product in other 1,800 or more stores in fiscal 2023. It expects to have at least 5,000 Dollar Tree Plus! stores by the end of 2024.Dollar Tree’s restructuring and expansion initiatives, as evident from steady store openings and improvement of distribution centers, are likely to drive revenues. The company is on track to open 600-650 stores this year, with two-thirds of stores to be opened in the back half of the year.It is also on track to complete at least 1,000 Family Dollar renovations by the end of this year. Additionally, the company is on track to leverage Family Dollar and Dollar Tree distribution center systems and combined merchandise. This will help bring the latest products into Dollar Tree stores without any disruptions.These factors led to year-over-year sales growth of 8.2% in second-quarter fiscal 2023. Enterprise same-store sales (comps) improved 6.9% year over year, beating our estimate of 4.8% growth. For the Dollar Tree banner, comps were up 7.8%, whereas the same for the Family Dollar banner improved 5.8%. Our model predicted comps growth of 4.9% for the Dollar Tree banner and 4.8% for Family Dollar.In the quarter, traffic grew more than 3% at Family Dollar and 10% at Dollar Tree. This marked the fourth consecutive quarter of growth at Family Dollar and the second successive quarter of growth for Dollar Tree.Consequently, management raised its fiscal 2023 top-line view. For fiscal 2023, Dollar Tree expects consolidated net sales of $30.6-$30.9 billion, up from the prior mentioned $30-$30.5 billion and our estimate of $30.1 billion. The company anticipates mid-single-digit comps growth compared with the earlier mentioned low to mid-single-digit growth and our estimate of 4.4% growth. Comps are likely to grow in the mid-single digits in the Dollar Tree and Family Dollar segments.For third-quarter fiscal 2023, the company expects consolidated net sales of $7.3-$7.5 billion based on mid-single-digit comps growth for the enterprise. We estimate net sales of $7.3 million and comps growth of 3.7%. Comp sales are also expected to improve in the mid-single digits at Dollar Tree and Family Dollar.Despite these upsides, the company has been witnessing inflationary costs, including elevated payroll, increased repairs and maintenance expenses and store facility costs, and wage investments in distribution center payroll. Also, a challenging macro environment is anticipated to continue hurting its sales mix in both segments.Management expects margin pressure to persist through the back half of the year. For fiscal 2023, management expects earnings per share (EPS) of $5.78-$6.08 (including a 12-cent contribution from the 53rd week and a 12-cent charge for the legal reserve) compared with the prior mentioned $5.73-$6.13 for fiscal 2023. For third-quarter fiscal 2023, EPS is estimated to be 94 cents to $1.04 compared with our estimate of $1.18. Image Source: Zacks Investment Research As a result, shares of DLTR have lost 27.1% in the past three months compared with the industry’s decline of 1.1%.Wrapping UpWe believe that a solid top line, led by Dollar Tree’s several store initiatives and expansion of its $3 and $5 plus assortment, will offset rising costs. The P/CF ratio for Dollar Tree is just 9.80, a level that is far lower than the industry average of 14.70. Clearly, this Zacks Rank #3 (Hold) company is a solid choice on the value front from multiple angles. Topping it, a Value Score of B reflects its inherent strength.Key PicksSome better-ranked stocks are BJ's Restaurants BJRI, Urban Outfitters URBN and Walmart WMT.BJ's Restaurants, which operates a chain of high-end casual dining restaurants in the United States, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for BJRI’s 2023 sales and EPS indicates 5.6% and 405.9% growth, respectively, from the year-ago period’s reported levels. It has a trailing four-quarter earnings surprise of 121.2%, on average.Urban Outfitters, which engages in retail and wholesale of general consumer products, currently flaunts a Zacks Rank #1. The expected EPS growth rate for three to five years is 18%.The Zacks Consensus Estimate for Urban Outfitters’ current fiscal-year earnings suggests growth of 57.1% from the year-ago reported number. URBN has a trailing four-quarter earnings surprise of 12.2%, on average.Walmart, which operates a chain of hypermarkets, discount department stores and grocery stores, currently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 5.5%.The Zacks Consensus Estimate for Walmart’s current financial-year sales implies an improvement of 4.2% from the year-ago period’s actual. WMT has a trailing four-quarter earnings surprise of 12%, on average. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 BJ's Restaurants, Inc. (BJRI): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report Dollar Tree, Inc. (DLTR): Free Stock Analysis Report Urban Outfitters, Inc. (URBN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Baker Hughes (BKR) Unveils Druck Hydrogen Pressure Sensor Tech
Baker Hughes (BKR) incorporates advanced high-performance barrier coating technology in its latest Druck hydrogen pressure sensors. Baker Hughes Company BKR introduced its latest hydrogen pressure sensors, signaling its entry into the hydrogen market.The technology, known as the Druck hydrogen-rated pressure sensors, provides long-term stability while remaining resilient in challenging environments. The hydrogen pressure sensors find utility across diverse applications, such as gas turbines, hydrogen production through electrolysis and hydrogen refueling stations.Prolonged exposure to hydrogen gas can affect the performance of pressure sensors, particularly due to hydrogen permeation and embrittlement of the isolation diaphragm. Therefore, the design and construction of a hydrogen sensor play a crucial role in preserving accuracy and stability.Baker Hughes incorporated advanced high-performance barrier coating technology in its latest Druck hydrogen pressure sensors. The innovation serves to shield the sensor element from the corrosive effects of hydrogen, delivering customers an industry-leading minimum operational lifespan of five years, even under varying pressure conditions.Hydrogen plays a pivotal role in the shift toward a more sustainable future. However, it poses infrastructure and equipment challenges, primarily related to hydrogen embrittlement. Baker Hughes’ introduction of cutting-edge hydrogen technology empowers customers to benefit from a pressure sensor capable of enduring demanding hydrogen environments over the long haul. Simultaneously, it offers elevated levels of precision and dependability.Druck, using its previous experience with the UNIK5000 family and the very accurate RPS/DPS8000 Series, created two sets of hydrogen pressure sensors. These sensors can measure pressure from very little (700 millibars or 10.2 pounds per square inch) to extremely high (700 bars or 10,000 pounds per square inch).Baker Hughes will showcase these Druck hydrogen pressure sensors at the Hydrogen Technology Expo in Bremen, Germany.Price PerformanceShares of Baker Hughes have outperformed the industry in the past six months. The stock has gained 29.8% compared with the industry’s 29% growth. Image Source: Zacks Investment Research Zacks Rank & Stocks to ConsiderBKR currently carries a Zack Rank #3 (Hold).Investors interested in the energy sector might look at the following companies that presently flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.USA Compression Partners, LP USAC is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower.USA Compression Partners has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for USAC’s 2023 and 2024 earnings per share is pegged at 30 cents and 58 cents, respectively.Helix Energy Solutions Group, Inc. HLX is an international offshore energy company that provides specialty services to the offshore energy industry, with a focus on their growing well intervention and robotics operations. HLX has witnessed upward earnings estimate revisions for 2023 and 2024 over the past 60 days.The Zacks Consensus Estimate for Helix Energy’s 2023 and 2024 earnings per share is pegged at 48 cents and 87 cents, respectively. HLX currently has a Zacks Style Score of A for Momentum.Pioneer Natural Resources Company PXD is an explorer and producer of oil, natural gas and natural gas liquid. The upstream energy player’s debt to capitalization has been persistently lower than the industry over the past few years, reflecting considerably lower debt exposure.Pioneer has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for PXD’s 2023 and 2024 earnings per share is pegged at $20.60 and $24.20, respectively. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Pioneer Natural Resources Company (PXD): Free Stock Analysis Report Helix Energy Solutions Group, Inc. (HLX): Free Stock Analysis Report USA Compression Partners, LP (USAC): Free Stock Analysis Report Baker Hughes Company (BKR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Ralph Lauren (RL) Prioritizes Digital Investment, Stock to Gain
Ralph Lauren's (RL) progress on digital and omni-channel investments to improve the experiences of target consumers. Its "Next Great Chapter" plan is on track. Ralph Lauren Corporation RL has been making significant progress in expanding digital and omni-channel capabilities through investments in mobile, omni-channel and fulfillment. The luxury lifestyle company is focused on diversifying and optimizing marketing across a variety of media and platforms in order to deliver a clear, differentiated experience to its target consumers.The company’s three strategic pillars to drive long-term growth and value creation bode well. It has been focused on elevating and energizing its lifestyle brand; driving the core and expanding products; and winning in key cities with its consumer ecosystem.The company’s focus on expanding digital experience has been well-reflected in its share price, with the stock outperforming the industry and the market. Shares of this Zacks Rank #3 (Hold) company have rallied 33.6% in the past year compared with the industry’s growth of 4.6%. The stock has also fared better than the sector’s rise of 12.7% and the S&P 500’s growth of 18.5% in the same period.Further optimism on the stock is reflected by its forward estimates, which suggest notable growth. The Zacks Consensus Estimate for RL’s fiscal 2024 sales and earnings suggests growth of 2.8% and 13.7%, respectively, from the year-ago period’s reported numbers. Image Source: Zacks Investment Research Digital Business’s PerformanceIn the fiscal first quarter, the company’s digital business, including its directly-operated sites, departmentstore.com, pure players and social commerce, remained flat year over year. Strength in its international markets more than offset weakness in North America.Starting from June 2023, RL witnessed improvement in its North America digital unit. It reached a milestone of 53.5 million social media followers globally, which reflects a year-over-year high-single-digit increase. This was mainly driven by the company’s popularity on Instagram, Line, TikTok, WeChat and other key platforms. RL continues to witness online search trends outpacing its peers globally, driven by spring icons and accessories. Region-wise, digital sales were up 8% in Europe and 11% in Asia.For fiscal 2024, management revealed plans for rich digital content and greater customer personalization. It is focused on further digital investments to continue the creation of content for all platforms, enhancing digital capabilities to improve the user experience and continuing to leverage AI and data to serve its consumers more efficiently.Ralph Lauren continues to scale and expand its connected retail capabilities, including virtual selling appointments, “buy online, pick up in store,” and endless aisle product availability. The company launched its first-ever full catalog Ralph Lauren mobile app last holiday season, efficiently leveraging its connected retail capabilities to deliver the most personalized and content-rich platform.The company is also on track to exceed its top and bottom-line targets under the “Next Great Chapter” plan announced in June 2018. This plan aims at creating a simplified global organizational structure and rolling out improved technological capabilities. As part of the plan, it completed the transition of Chaps to a licensed business, thus concluding its portfolio realignment announced last year. The move will likely enable it to focus on core brands as part of the Next Great Chapter elevation strategy.Hurdles on the WayRalph Lauren has been reeling under continued product cost inflation and higher compensation. RL expects higher marketing and ecosystem investments for the fiscal second quarter. The company is also witnessing macro inflationary challenges, particularly in North America. This led to a dismal performance in its North America segment in the fiscal first quarter. Higher promotions in the North America market and an unfavorable wholesale timing shift acted as deterrents.Key PicksWe have highlighted three better-ranked stocks from the Consumer Staple sector, namely GIII Apparel Group GIII, Guess GES and Royal Caribbean Cruises RCL.GIII Apparel currently sports a Zacks Rank #1 (Strong Buy). Shares of GIII have rallied 59% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for GIII Apparel’s current financial year’s sales and earnings per share suggests growth of 8% and 14.7%, respectively, from the year-ago period’s reported figures. GIII has a trailing four-quarter earnings surprise of 526.6%, on average.Guess has a trailing four-quarter earnings surprise of 43.4%, on average. It flaunts a Zacks Rank #1 at present. Shares of GES have risen 49.2% in the past year.The Zacks Consensus Estimate for Guess’ current financial-year sales and earnings suggests growth of 3.7% and 9.9%, respectively, from the year-ago period's reported figures.Royal Caribbean has a trailing four-quarter earnings surprise of 28.5%, on average. It currently sports a Zacks Rank #1. Shares of RCL have rallied 107.2% in the past year.The Zacks Consensus Estimate for Royal Caribbean’s current financial-year sales and earnings suggests growth of 55.3% and 181.9%, respectively, from the year-ago period's reported figures. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Royal Caribbean Cruises Ltd. (RCL): Free Stock Analysis Report Ralph Lauren Corporation (RL): Free Stock Analysis Report Guess?, Inc. (GES): Free Stock Analysis Report G-III Apparel Group, LTD. (GIII): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Aptiv (APTV) Stock Gains 17% in a Year: Here"s What to know
Aptiv's (APTV) "smart architecture" provides a competitive advantage and should help it continue gaining market share. Aptiv PLC APTV shares have had an impressive run on the bourses over the past year. The stock has gained 17.1%, significantly outperforming the 6.8% rally of the industry it belongs to.Factors Aiding APTVAptiv has put on an impressive performance, beating the Zacks Consensus Estimates for earnings and revenues in the trailing four quarters.The company is exposed to the lucrative connected cars market. With security becoming a key selling point for connected cars, automakers are increasingly seeking related technologies. This is one of the reasons behind the quick advancement of the driver-assistance system market. Demand for personalization, infotainment connectivity and convenience are increasing rapidly. Added features require more wiring inside vehicles.Aptiv PLC Price Aptiv PLC price | Aptiv PLC QuoteWe believe that with excellent system integration expertise, Aptiv is well-positioned to leverage the growing electrification, connectivity and autonomy trends in the automotive sector.The company’s "smart architecture" provides a competitive advantage and should help it continue gaining market share. Decreasing environmental impact and increasing fuel economy are the key industry trends. OEMs have increased their search for better engine management and lower power consumption. Aptiv intends to take advantage of this trend as its “smart architecture” reduces wiring requirements in cars, helping them become fuel-efficient and add features.The 2022 acquisition of Wind River expanded Aptiv’s position in the automotive software solutions market. Another 2022 acquisition, Intercable Automotive Solutions, strengthened APTV’s position as a global leader in vehicle architecture systems. Aptiv intends to continue making investments for organic and inorganic growth. Since it acquires a large number of companies on an ongoing basis, the integration of these companies generates cost synergies, which improve the efficiency of the combined company.Favorable Estimate RevisionsThe direction of estimate revisions serves as an important pointer when it comes to the price of a stock. Eight estimates for 2023 have moved north over the past 60 days versus no southward revision. Over the same period, the Zacks Consensus Estimate for 2023 earnings has increased 8%.Zacks Rank and Stocks to ConsiderAptiv currently carries a Zacks Rank #3 (Hold).Here are some better-ranked stocks from the broader Business Service sector to consider:Verisk Analytics VRSK beat the Zacks Consensus Estimate in three of the four previous quarters and matched once, with an average surprise of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, indicating an 8.2% decrease from the year-ago reported figure. Its earnings are pegged at $5.71 per share for 2023, suggesting 14% growth from the year-ago reported figure. VRSK currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Automatic Data ADP currently has a Zacks Rank of 2. The company beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies year-over-year growthof 6.3% and 11.1%, respectively.Broadridge BR currently carries a Zacks Rank of 2. It beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on one instance, the average surprise being 0.5%. The consensus estimate for fiscal 2024 revenues and earnings suggests a rise of 7.2% and 8.8%, respectively. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Broadridge Financial Solutions, Inc. (BR): Free Stock Analysis Report Automatic Data Processing, Inc. (ADP): Free Stock Analysis Report Verisk Analytics, Inc. (VRSK): Free Stock Analysis Report Aptiv PLC (APTV): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
USA Compression Partners (USAC) is a Great Momentum Stock: Should You Buy?
Does USA Compression Partners (USAC) have what it takes to be a top stock pick for momentum investors? Let's find out. Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.Below, we take a look at USA Compression Partners (USAC), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. USA Compression Partners currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.You can see the current list of Zacks #1 Rank Stocks here >>>Set to Beat the Market?In order to see if USAC is a promising momentum pick, let's examine some Momentum Style elements to see if this natural gas compression services company holds up.A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.For USAC, shares are up 1.24% over the past week while the Zacks Oil and Gas - Mechanical and and Equipment industry is up 0.58% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 8.36% compares favorably with the industry's 3.57% performance as well.While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Shares of USA Compression Partners have increased 12.92% over the past quarter, and have gained 33.55% in the last year. On the other hand, the S&P 500 has only moved -1.03% and 16.74%, respectively.Investors should also take note of USAC's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, USAC is averaging 153,914 shares for the last 20 days.Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with USAC.Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost USAC's consensus estimate, increasing from $0.24 to $0.30 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.Bottom LineTaking into account all of these elements, it should come as no surprise that USAC is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep USA Compression Partners on your short list. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 USA Compression Partners, LP (USAC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
What Makes Kirby (KEX) a Strong Momentum Stock: Buy Now?
Does Kirby (KEX) have what it takes to be a top stock pick for momentum investors? Let's find out. Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.Below, we take a look at Kirby (KEX), which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Kirby currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.You can see the current list of Zacks #1 Rank Stocks here >>>Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for KEX that show why this barge operator shows promise as a solid momentum pick.Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.For KEX, shares are up 0.94% over the past week while the Zacks Transportation - Shipping industry is up 0.11% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 1.76% compares favorably with the industry's 1.35% performance as well.While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Kirby have increased 8.33% over the past quarter, and have gained 40.27% in the last year. On the other hand, the S&P 500 has only moved -1.03% and 16.74%, respectively.Investors should also take note of KEX's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, KEX is averaging 383,200 shares for the last 20 days.Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with KEX.Over the past two months, 4 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost KEX's consensus estimate, increasing from $3.58 to $3.76 in the past 60 days. Looking at the next fiscal year, 4 estimates have moved upwards while there have been no downward revisions in the same time period.Bottom LineGiven these factors, it shouldn't be surprising that KEX is a #1 (Strong Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Kirby on your short list. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Kirby Corporation (KEX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
KANZHUN LIMITED Sponsored ADR (BZ) Upgraded to Buy: Here"s What You Should Know
KANZHUN LIMITED Sponsored ADR (BZ) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy). KANZHUN LIMITED Sponsored ADR (BZ) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.Therefore, the Zacks rating upgrade for KANZHUN LIMITED Sponsored ADR basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for KANZHUN LIMITED Sponsored ADR imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for KANZHUN LIMITED Sponsored ADRFor the fiscal year ending December 2023, this company is expected to earn $0.49 per share, which is a change of 96% from the year-ago reported number.Analysts have been steadily raising their estimates for KANZHUN LIMITED Sponsored ADR. Over the past three months, the Zacks Consensus Estimate for the company has increased 9.1%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of KANZHUN LIMITED Sponsored ADR to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 KANZHUN LIMITED Sponsored ADR (BZ): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Melco (MLCO) Moves to Buy: Rationale Behind the Upgrade
Melco (MLCO) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term. Investors might want to bet on Melco Resorts (MLCO), as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.Therefore, the Zacks rating upgrade for Melco basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Melco imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for MelcoThis casino company is expected to earn -$0.16 per share for the fiscal year ending December 2023, which represents a year-over-year change of 91.6%.Analysts have been steadily raising their estimates for Melco. Over the past three months, the Zacks Consensus Estimate for the company has increased 3.1%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of Melco to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Melco Resorts & Entertainment Limited (MLCO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Pieris Pharmaceuticals (PIRS) Upgraded to Strong Buy: Here"s Why
Pieris Pharmaceuticals (PIRS) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term. Investors might want to bet on Pieris Pharmaceuticals (PIRS), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.Therefore, the Zacks rating upgrade for Pieris Pharmaceuticals basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.For Pieris Pharmaceuticals, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for Pieris PharmaceuticalsFor the fiscal year ending December 2023, this biopharmaceutical company is expected to earn -$0.35 per share, which is a change of 22.2% from the year-ago reported number.Analysts have been steadily raising their estimates for Pieris Pharmaceuticals. Over the past three months, the Zacks Consensus Estimate for the company has increased 48.5%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of Pieris Pharmaceuticals to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Pieris Pharmaceuticals, Inc. (PIRS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
National Fuel Gas (NFG) Upgraded to Buy: What Does It Mean for the Stock?
National Fuel Gas (NFG) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term. Investors might want to bet on National Fuel Gas (NFG), as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.Therefore, the Zacks rating upgrade for National Fuel Gas basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.For National Fuel Gas, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for National Fuel GasFor the fiscal year ending September 2023, this energy company is expected to earn $5.22 per share, which is a change of -11.2% from the year-ago reported number.Analysts have been steadily raising their estimates for National Fuel Gas. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.1%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of National Fuel Gas to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 National Fuel Gas Company (NFG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
F5 (FFIV) Moves to Buy: Rationale Behind the Upgrade
F5 (FFIV) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy). Investors might want to bet on F5 Networks (FFIV), as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.Therefore, the Zacks rating upgrade for F5 basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.For F5, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for F5For the fiscal year ending September 2023, this computer networking company is expected to earn $11.42 per share, which is a change of 12.1% from the year-ago reported number.Analysts have been steadily raising their estimates for F5. Over the past three months, the Zacks Consensus Estimate for the company has increased 5.8%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of F5 to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 F5, Inc. (FFIV): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
McDonald"s (MCD) Outpaces Industry in the Past Year: Here"s Why
McDonald's (MCD) emphasizes continued digital innovation to boost customer engagement and drive digital acquisition and customer frequency. McDonald's Corporation MCD is poised to benefit from digital efforts, menu innovation and expansion initiatives. Also, focus on the loyalty program and drive-thru channels have been a driving factor for sales in the last few quarters.Shares of McDonald's have gained 11.7% in the past year compared with the industry’s 9.7% growth. The price performance was backed by a solid earnings surprise history. Earnings surpassed the Zacks Consensus Estimate in each of the trailing six quarters. Earnings estimates for full-year 2023 and 2024 have moved up 3.7% and 2.1%, respectively, in the past 60 days. The positive trend signifies bullish analysts’ sentiments and justifies the company’s Zacks Rank #2 (Buy). This indicates robust fundamentals and expectations of outperformance in the near term. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Major Growth DriversDigitization Efforts: McDonald's continues to gain from robust digitalization. During the second quarter of 2023, digital dales (from the top six markets) came in at $8 billion, contributing 40% to the company’s system-wide sales. The company's "MyMcDonald's" digital experience growth engine is transforming its dine-in, drive-through, takeout, delivery and curbside pickup services. In the United States, 95% of its restaurants offer drive-thru facilities.Image Source: Zacks Investment ResearchTo speed up service and improve customer satisfaction, the company has initiated testing of a digital upgrade in the United States. The initiative allows staff to compile a customer's mobile order before arriving at the restaurant. Also, it emphasized McDonald's mobile app enhancements and strategic partnerships (such as UberEats, DoorDash, Just Eat Takeaway.com and Deliveroo). The company is optimistic and anticipates the initiatives to drive growth in the upcoming periods.Focus on Loyalty Program: McDonald's continues to focus on the loyalty program to drive sales and average checks. It believes that the program will help retain existing customers and expand the customer base. During second-quarter 2023, the company reported that its loyalty customers have proven highly engaged, with over 52 million active loyalty members across its top six markets (including over 30 million in the U.S.). The company reported high single-digit growth rates in our loyalty programs regarding sign-ups. The company intends to focus on continued digital innovation to boost customer engagement and drive digital acquisition and customer frequency.Menu Innovation: Additionally, the company continues to focus on product introduction to drive growth. During the second quarter of 2023, the company introduced Spicy McNuggets, a popular line extension, in various markets, including Australia and Germany. This exemplifies the company's approach to modernizing the core menu, catering to evolving customer taste preferences and successfully scaling new ideas globally. Notably, both markets experienced significant boosts in McNuggets line sales, with Spicy McNuggets sales achieving an all-time high in Australia. Also, the company reported solid contributions from the McCrispy portfolio, reflecting a catalyst for chicken growth for many of its markets. Moving ahead, the company intends to focus on entry-level affordable meals to lift value perceptions with consumers and drive growth.Expansion Efforts: McDonald’s believes there is a huge opportunity to grow all its brands globally by expanding its presence in existing markets and entering new ones. Its expansion efforts continue to drive performance. McDonald’s plans to open more than 1,900 restaurants globally in 2023, including 400 openings in the United States and IOM segment and 1,500(including nearly 900 in China) inaugurations in the IDL market. It expects net restaurant unit expansion to contribute nearly 1.5% to 2023 systemwide sales growth in constant currencies.Other Solid Restaurant BetsSome other top-ranked stocks in the Zacks Retail-Wholesale sector are:Kura Sushi USA, Inc. KRUS sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 139.7% on average. Shares of KRUS have increased by 1.3% in the past year.The Zacks Consensus Estimate for KRUS’s 2023 sales and EPS indicates 33.4% and 300% growth, respectively, from the year-ago period’s levels.BJ's Restaurants, Inc. BJRI sports a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 121.2%, on average. Shares of BJRI have declined 0.8% in the past year.The Zacks Consensus Estimate for BJRI’s 2023 sales and EPS indicates a 5.6% and a 447.1% growth, respectively, from the year-ago period’s levels.Arcos Dorados Holdings Inc. ARCO currently carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 35%, on average. The stock has gained 41.3% in the past year.The Zacks Consensus Estimate for Arcos Dorados’ 2023 sales and EPS suggests rises of 19.2% and 13%, respectively, from the year-ago period’s levels. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 BJ's Restaurants, Inc. (BJRI): Free Stock Analysis Report McDonald's Corporation (MCD): Free Stock Analysis Report Arcos Dorados Holdings Inc. (ARCO): Free Stock Analysis Report Kura Sushi USA, Inc. (KRUS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
FDA Expands Lilly (LLY) Jardiance Label in Chronic Kidney Disease
Following the latest approval, Lilly's (LLY) Jardiance can access a target market that affects more than 35 million adults in the United States. Eli Lilly LLY announced that the FDA has expanded the label of its diabetes drug, Jardiance (empagliflozin), to chronic kidney disease (“CKD”).Jardiance is now approved in the United States to reduce the risk of further worsening of kidney disease, end-stage kidney disease (“ESKD”), death due to cardiovascular disease, and hospitalization in adults with CKD.The approval is based on data from the phase III EMPA-KIDNEY study, which evaluated Jardiance in adult patients with CKD. Data from the study showed that patients treated with Jardiance showed a 28% relative risk reduction over placebo, on top of standard care, for the composite primary endpoint of kidney disease progression or cardiovascular death.Per Lilly, the EMPA-KIDNEY study is the first study on an SGLT2 inhibitor like Jardiance to demonstrate a statistically significant reduction in the risk of first and recurrent hospitalization in adults with CKD.Following the label expansion, Jardiance is now approved for four indications in the United States. The drug is already approved for use in certain patients with heart failure and type 2 diabetes (“T2D”).A blockbuster drug, Jardiance is one of the key revenue drivers for Lilly. During the first half of 2023, sales of Jardiance were up 42% year over at $1.25 billion, driven by the drug’s increased demand.Shares of Eli Lilly have increased 50.5% so far this year against the industry’s 2.5% fall.Image Source: Zacks Investment ResearchIn July, Jardiance received label expansion in the European Union (“EU”) for a similar indication based on data from the EMPA-KIDNEY study. The EU also approved the drug for heart failure and T2D indications.Lilly has developed Jardiance in collaboration with Boehringer Ingelheim. This partnership was announced between the two companies in 2011. The companies share the ongoing development and commercialization costs per the agreement terms. Lilly receives a royalty on net product sales of Jardiance from Boehringer Ingelheim.Per management, the latest approval significantly expands Jardiance’s market opportunities. Lilly estimates that CKD affects more than one out of seven adults in the country, representing a target market of more than 35 million adults suffering from the disease.The Eli Lilly drug will likely provide stiff competition to AstraZeneca AZN, which markets its own SGLT2 inhibitor Farxiga (dapagliflozin), for a similar indication. AstraZeneca received the FDA approval for this indication in April 2021. The AstraZeneca drug is also approved for other indications, some of which directly compete with Jardiance. In first-half 2023, AstraZeneca recorded $2.8 billion from Farxiga sales, a 39% rise over the year-ago period.Zacks Rank & Stocks to ConsiderEli Lilly currently carries a Zacks Rank #3 (Hold).A couple of better-ranked stocks are Annovis Bio ANVS and Novartis NVS, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 60 days, estimates for Annovis Bio’s 2023 loss per share have narrowed from $4.89 to $4.38. During the same period, the loss estimates per share for 2024 have improved from $3.18 to $2.77. Year to date, shares of Annovis have lost 26.4%.Earnings of Annovis Bio beat estimates in three of the last four quarters while missing the mark on one occasion, witnessing an earnings surprise of 13.40% on average. In the last reported quarter, Annovis’ earnings beat estimates by 6.14%.In the past 30 days, estimates for Novartis’ 2023 earnings per share have risen from $6.81 to $6.92. During the same period, the estimates per share for 2024 increased from $7.32 to $7.52. Year to date, shares of Novartis have risen 11.5%.Earnings of Novartis beat estimates in each of the trailing four quarters, witnessing an average earnings surprise of 6.56%. In the last reported quarter, Novartis’ earnings beat estimates by 8.93%. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 AstraZeneca PLC (AZN): Free Stock Analysis Report Novartis AG (NVS): Free Stock Analysis Report Eli Lilly and Company (LLY): Free Stock Analysis Report Annovis Bio, Inc. (ANVS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Will Grocery Outlet"s (GO) Plan of Growing Store Presence Aid?
Grocery Outlet (GO) is positioned to flourish and effectively cater to its diverse customer base on a distinctive business model, continuous store expansions and investments in operational efficiency. Grocery Outlet Holding Corp. GO benefits from its growth efforts and strong product offerings in a challenging business environment. The company's ability to capitalize on supply opportunities, provide a wide-ranging product selection, expand its store network and engage customers effectively stands out as significant strengths that underpin its success.Expanding FootprintGrocery Outlet's opportunistic purchasing strategy, effective marketing campaigns, continued store expansion and dedication to improving the online shopping experience are noteworthy. These holds promise for expanding the company’s customer base. GO is proactive in opening stores and optimizing operational capabilities.In the second quarter of 2023, Grocery Outlet reported 12.5% growth year-over-year in net sales, reaching $1.01 billion. This impressive performance was primarily driven by a remarkable 9.2% increase in comparable store sales, complemented by the positive contributions from store openings since the second quarter of 2022.With plans to expand its national footprint to 4,000 locations, Grocery Outlet opened four stores and closed one, ending the second quarter of 2023 with 447 stores in eight states. The company expects the pace of store openings to accelerate to a 10% annualized growth rate. It intends to open 25-28 net new stores in 2023. Strategic investments in technology and operational improvements further highlight the company's commitment to sustainable expansion. Image Source: Zacks Investment Research Adapting to Customer PreferencesThe company's focus on convenience through partnerships with Instacart, DoorDash and Uber Eats for same-day delivery attracts bargain-seekers and fosters repeat business. Recognizing the demand for fresh and healthy options, Grocery Outlet now includes Natural, Organic, Specialty, and Healthy products, showcasing its commitment to meet evolving customer preferences.The company's unique business model is also a distinguishing feature, which is centered around flexible sourcing and distribution, allowing it to provide high-quality, name-brand products at exceptional prices. The ever-evolving product assortment, featuring special deals and everyday staples, sets it apart from traditional retailers. The company provides customers with substantial savings, averaging 40% compared with traditional grocery retailers, while its exceptional WOW! items offer savings of 70% or more.Wrapping UpThese strategies have resulted in a positive financial outcome for Grocery Outlet. In the second quarter of 2023, the company surpassed projections, achieving year-over-year growth in revenues and profits. The impressive performance of comparable store sales in this quarter highlights the resilience of Grocery Outlet's current store locations and its capacity to attract customers and boost sales. (Read More: Grocery Outlet Q2 Earnings Beat, FY23 Outlook Raised)Following these positive results, management raised its 2023 view at its second-quarter earnings release, projecting net sales of $3.95 billion, accompanied by comparable store sales growth of 7-8%. The company earlier projected 2023 net sales of $3.90 billion, and comparable store sales growth between 5% and 6%.The Zacks Rank #2 (Buy) stock has rallied 2.2% in the past six months against the industry’s decline of 18.2%.3 Other Promising StocksWe have highlighted three other top-ranked stocks, namely Ollie's Bargain Outlet Holdings, Inc. OLLI, Ross Stores Inc. ROST and Walmart Inc. WMT.Ollie's Bargain Outlet is a value retailer of brand-name merchandise at drastically reduced prices. The company currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Ollie's Bargain Outlet’s current fiscal-year sales and EPS suggests growth of 19.6% and 67.3%, respectively, from the year-ago reported figures. OLLI has a trailing four-quarter earnings surprise of 1.3%, on average.Ross Stores is an off-price retailer of apparel and home accessories. The company currently carries a Zacks Rank #2.The Zacks Consensus Estimate for Ross Stores’ current fiscal-year sales and EPS suggests growth of 8.1% and 19.4%, respectively, from the year-ago reported figures. ROST has a trailing four-quarter earnings surprise of 11.4%, on average.Walmart, which operates a chain of hypermarkets, discount department stores and grocery stores, currently carries a Zacks Rank #2.The Zacks Consensus Estimate for Walmart’s current fiscal-year sales and earnings suggests growth of 9.2% and 2.2%, respectively, from the year-ago reported numbers. WMT has a trailing four-quarter earnings surprise of 11.6%, on average. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Walmart Inc. (WMT): Free Stock Analysis Report Ross Stores, Inc. (ROST): Free Stock Analysis Report Ollie's Bargain Outlet Holdings, Inc. (OLLI): Free Stock Analysis Report Grocery Outlet Holding Corp. (GO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Lamb Weston (LW) Up More Than 20% in a Year: Will It Stay?
Lamb Weston (LW) benefits from strategic pricing actions amid an inflationary environment. The company is boosting production capacity to fuel long-term growth. Lamb Weston Holdings, Inc. LW is on track with strategic pricing efforts to drive growth. The provider of value-added frozen potato products has been undertaking capacity expansions, which is noteworthy. These trends were witnessed in the fourth quarter of fiscal 2023, with the top and the bottom line beating the Zacks Consensus Estimate and increasing year over year.For fiscal 2024, management expects net sales in the range of $6.7-$6.9 billion, up from $4.81 billion reported in fiscal 2023. Earnings per share (EPS) are envisioned in the range of $4.95-$5.40, suggesting an increase from $4.68 reported in the year-ago period.The Zacks Rank #3 (Hold) stock has gained 21.1% in the past year against the industry’s 1.9% decline. Let’s delve deeper.Image Source: Zacks Investment ResearchWhat’s Working in Lamb Weston’s Favor?Lamb Weston’s net sales have benefited from robust price/mix, as witnessed during the fourth quarter of fiscal 2023. The price/mix rose 24%, reflecting gains from pricing actions in every core business unit to counter input and manufacturing cost inflation. In the Global, Foodservice and Retail segment, price/mix grew 28%, 13% and 35%, respectively. Efficient pricing is likely to protect margins.Lamb Weston’s sturdy balance sheet and capacity to generate cash keeps it well-placed to boost production capacity and fuel long-term growth. Capital expenditures totaled $736 million during fiscal 2023, allocated toward construction costs as the company is on track to expand its processing capacity.In its last earnings call, management highlighted that it broke ground on a 250 million-pound capacity expansion. The expansion will enhance the company’s ability to cater to the growing South American market. Management also stated that it made progress on its expansion projects across China and the Netherlands, which are expected to come online in the next 18 months.Will Hurdles be Countered?Escalated costs partly hurt Lamb Weston’s quarterly gross profit in the fiscal fourth quarter. Increased costs per pound and reduced sales volumes were hurdles for the metric. Increased costs per pound reflect high-single-digit cost inflation for critical inputs like raw potatoes, energy, labor, edible oils and ingredients, including grains and starches.In its last earnings call, management highlighted that the inflationary environment and other macro pressures on consumers continue to hamper traffic in specific restaurant channels. Nevertheless, Lamb Weston is on track with strategies like pricing actions and enhancing business and product mix to counter rising input cost inflation.Appetizing Food PicksMGP Ingredients MGPI, which produces and markets ingredients and distillery products, currently sports a Zacks Rank #1 (Strong Buy). MGPI has a trailing four-quarter earnings surprise of 18% on average. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for MGP Ingredients’ current financial-year sales and earnings per share suggests growth of 5.8% and 10.4%, respectively, from the corresponding year-ago reported figures.Flowers Foods FLO emphasizes providing high-quality baked items. The company currently carries a Zacks Rank #2 (Buy).The Zacks Consensus Estimate for Flowers Foods’ current financial-year sales suggests growth of 6.7% from the year-ago period’s actuals. FLO has a trailing four-quarter earnings surprise of 7.6% on average.Celsius Holdings CELH, which offers functional drinks and liquid supplements, currently carries a Zacks Rank #2. CELH delivered an earnings surprise of 100% in the last reported quarter.The Zacks Consensus Estimate for Celsius Holdings’ current financial-year sales and earnings suggests growth of 88.9% and 170.7%, respectively, from the year-ago reported numbers. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Flowers Foods, Inc. (FLO): Free Stock Analysis Report MGP Ingredients, Inc. (MGPI): Free Stock Analysis Report Lamb Weston (LW): Free Stock Analysis Report Celsius Holdings Inc. (CELH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Merck (MRK), Eisai Combo Therapy Fail Two Lung Cancer Studies
Data from both late-stage studies evaluating Merck's (MRK) Keytruda and Eisai's Lenvima combination in certain types of metastatic non-small cell lung cancer, fail to achieve their primary endpoints. Merck MRK and its partner Eisai announced results from two late-stage clinical studies evaluating a combination of their cancer therapies in patients with certain types of metastatic non-small cell lung cancer (“NSCLC”).Both studies failed to achieve their dual primary endpoints of overall survival (“OS”) and progression free survival (“PFS”).The LEAP-006 study evaluated the combination of Merck’s Keytruda, Eisai’s Lenvima, pemetrexed and chemotherapy as a first-line treatment for certain adult patients with metastatic, nonsquamous NSCLC. On the other hand, the LEAP-008 study evaluated Keytruda plus Lenvima as a second-line therapy for patients with metastatic NSCLC whose disease progressed on a combination of chemotherapy and anti-PD-1/-L1 immunotherapy.The LEAP-006 and LEAP-008 studies also did not demonstrate a statistically significant improvement in objective response rate (“ORR”), a key secondary endpoint in both studies.Neither Merck nor Eisai updated whether the companies will continue to develop the drug in the two NSCLC indications. The full evaluation of data from both studies is ongoing. The companies intend to share the results.Merck’s shares have lost 4.2% year to date against the industry’s 5.7% growth.Image Source: Zacks Investment ResearchThe Keytruda plus Lenvima combination is currently approved in the United States, Europe, Japan and other countries for treating advanced renal cell carcinoma (“RCC”) and certain types of advanced endometrial carcinoma.Merck and Eisai are studying this combination through the LEAP clinical program across various tumor types, including hepatocellular carcinoma, head and neck cancer, gastric cancer and esophageal cancer, across multiple clinical studies.The setbacks in LEAP-006 and LEAP-008 are one of the many setbacks suffered by Merck and Eisai on the Keytruda/Lenvima combination. Last month, both companies announced the closure of the phase III LEAP-010 study on Keytruda plus Lenvima combo as a first-line treatment of recurrent or metastatic head and neck squamous cell carcinoma (“HNSCC”). Data from the study failed to show an overall survival benefit for patients.In April, Merck and Eisai discontinued another phase III study called LEAP-003, evaluating Keytruda/Lenvima combination for the first-line treatment of adults with unresectable or metastatic melanoma. Patients treated with the combination did not improve OS, one of the study’s dual primary endpoints, versus Keytruda alone.Alongside the LEAP-003 update, Merck and Eisai also announced that the phase III LEAP-017 study, evaluating Keytruda plus Lenvima for treating patients with unresectable and metastatic colorectal cancer, did not meet its primary endpoint of OS.Merck and Eisai plan to continue to study the combination of drugs for other indications under the LEAP program.In a separate press release, Merck, along with partner Seagen SGEN, reported positive top-line results from a late-stage study (KEYNOTE-A39/EV-302) of the combination therapy of Seagen’s Padcev with Keytruda for the treatment of adult patients with previously untreated locally advanced or metastatic urothelial cancer (la/mUC). The Seagen/Merck partnered study achieved its co-primary endpoints of OS and PFS.The FDA approves the Seagen/Merck drug combination for the above indication under the accelerated pathway. The Seagen/Merck conducted KEYNOTE-A39/EV-302 study intends to serve as a confirmatory study seeking to convert the accelerated approval to a full one.Merck & Co., Inc. Price Merck & Co., Inc. price | Merck & Co., Inc. Quote Zacks Rank & Stocks to ConsiderMerck currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks are Annovis Bio ANVS and Novartis NVS, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 60 days, estimates for Annovis Bio’s 2023 loss per share have narrowed from $4.89 to $4.38. During the same period, the loss estimates per share for 2024 have improved from $3.18 to $2.77. Year to date, shares of Annovis have lost 26.4%.Earnings of Annovis Bio beat estimates in three of the last four quarters while missing the mark on one occasion, witnessing an earnings surprise of 13.40% on average. In the last reported quarter, Annovis’ earnings beat estimates by 6.14%.In the past 30 days, estimates for Novartis’ 2023 earnings per share have risen from $6.81 to $6.92. During the same period, the estimates per share for 2024 increased from $7.32 to $7.52. Year to date, shares of Novartis have risen 11.5%.Earnings of Novartis beat estimates in each of the trailing four quarters, witnessing an average earnings surprise of 6.56%. In the last reported quarter, Novartis’ earnings beat estimates by 8.93%. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Novartis AG (NVS): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report Seagen Inc. (SGEN): Free Stock Analysis Report Annovis Bio, Inc. (ANVS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Hormel Foods (HRL) Appears Dull on Supply-Chain, Cost Woes
Hormel Foods (HRL) continues to operate in a volatile, complex and high-cost environment. Weakness in the International segment is a hurdle. Hormel Foods Corporation HRL has been facing supply-chain bottlenecks. The leading manufacturer and marketer of various meat and food products operates amid an inflationary cost environment.These trends persisted in the company’s third-quarter fiscal 2023, wherein the top and the bottom line lagged the Zacks Consensus Estimate and net sales declined year over year. Management offered a dull view for fiscal 2023.Let’s discuss this in detail. Supply-Chain Issues Hurt Q3Hormel Foods continues to operate in a volatile, complex and high-cost environment. The company’s fiscal third-quarter results were hurt by weakness in the International segment and supply-chain disruptions. Quarterly net sales fell 2.3% to $2,963.3 million, with weakness across all segments. Net sales in the Retail, Foodservice and International units decreased 1.7%, 3% and 6%, respectively.The company’s adjusted operating income was $286.8 million in the fiscal third quarter, 1.5% lower than last year. The downside can be attributed to supply-chain disruptions because of third-party logistics provider shutdown. The company saw impacts from shortages, additional logistic costs and escalated distressed inventory levels.Image Source: Zacks Investment ResearchDull OutlookManagement expects to witness continued weakness in the International segment, alongside earnings pressure from heightened competition in the Retail business in fiscal 2023. The company also expects overall consumer spending to remain under pressure in the United States due to the resumption of student loan paymentsHormel Foods projects fiscal 2023 net sales to be down 4% to flat year over year, reflecting to-date performance and expectations of raw material input costs in the fiscal fourth quarter. Fiscal 2023 adjusted earnings per share (EPS) are expected to be $1.61-$1.67, down from $1.82 reported in the year-ago period. The bottom line will likely decline year over year in the fiscal fourth quarter.Shares of the Zacks Rank #5 (Strong Sell) company have dropped 4.6% in the past three months compared with the industry’s 2.4% decline.Appetizing Food PicksMGP Ingredients MGPI, which produces and markets ingredients and distillery products, currently sports a Zacks Rank #1 (Strong Buy). MGPI has a trailing four-quarter earnings surprise of 18% on average. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for MGP Ingredients’ current financial-year sales and earnings per share suggests growth of 5.8% and 10.4%, respectively, from the corresponding year-ago reported figures.Flowers Foods FLO emphasizes providing high-quality baked items. The company currently carries a Zacks Rank #2 (Buy).The Zacks Consensus Estimate for Flowers Foods’ current financial-year sales suggests growth of 6.7% from the year-ago period’s actuals. FLO has a trailing four-quarter earnings surprise of 7.6% on average.Celsius Holdings CELH, which offers functional drinks and liquid supplements, currently carries a Zacks Rank #2. CELH delivered an earnings surprise of 100% in the last reported quarter.The Zacks Consensus Estimate for Celsius Holdings’ current financial-year sales and earnings suggests growth of 88.9% and 170.7%, respectively, from the year-ago reported numbers. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Hormel Foods Corporation (HRL): Free Stock Analysis Report Flowers Foods, Inc. (FLO): Free Stock Analysis Report MGP Ingredients, Inc. (MGPI): Free Stock Analysis Report Celsius Holdings Inc. (CELH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
JPMorgan (JPM) Completes 14 First Republic Branch Closures
JPMorgan (JPM) closes 14 First Republic Bank branches in California, completing its initial plan to trim the failed bank's branch network. More closures are expected to follow. JPMorgan Chase JPM has shut down 14 First Republic Bank branches in California. With this, the Wall Street giant completes its initial plans to trim the failed bank’s branch network following its takeover this May.Of the total branches that have been shut, half were in San Francisco County and the rest were spread across six other counties in California.JPMorgan had initially planned to shut down 21 First Republic branches by the end of 2023. With the latest closures, the target has been met.The shutdowns represent one-quarter of the total 84 branches that First Republic operated at the end of April 2023.Earlier this year, JPM said that the 21 branches selected for closure had “relatively low transaction volumes and are generally within a short drive from another First Republic office.”While the remaining 63 branches are likely to be rebranded as Chase branches, more branch closures may take place.Jennifer Piepszak, the co-CEO of consumer and community banking, had said during JPM’s May investor day that the remaining First Republic branches will either stay open because they are in better locations than nearby Chase branches or they will be closed due to their proximity to an existing Chase office.Details of the First Republic TakeoverOn May 1, JPM acquired failed First Republic Bank to become an even bigger financial behemoth. JPM bought the bulk of First Republic’s $228 billion of assets and assumed deposits worth $92 billion by paying $10.6 billion. The company did not acquire any of the First Republic’s corporate debt or preferred stock.At the time of the acquisition, JPMorgan expected the transaction to generate more than $500 million of “incremental net income” annually.Also, the financial giant expected the deal to result in increased penetration within the high-net-worth clients.Jamie Dimon, the chairman and CEO of JPMorgan, said, “This acquisition modestly benefits our company overall, it is accretive to shareholders, it helps further advance our wealth strategy, and it is complementary to our existing franchise.”After almost two months of efforts to save the flagging institution, the Federal Deposit Insurance Corporation (“FDIC”) seized First Republic in May. The nation’s biggest banks, including JPMorgan, had tried to support the San Francisco-based lender by infusing $30 billion worth of deposits (in aggregate). Despite the infusion, deposits continued to exit the company and by the end of April, there were only a few options left to save it.The failure of First Republic Bank followed the collapse of two other major banks — Signature Bank and Silicon Valley Bank — and led to the regional banking industry turmoil in the United States. Signature Bank and Silicon Valley Bank were seized by the FDIC and then sold to New York Community Bancorp, Inc. NYCB and First Citizens BancShares, Inc. FCNCA, respectively.NYCB, through its bank subsidiary, Flagstar Bank, acquired $38 billion in assets and assumed $36 billion of liabilities of Signature Bank, while not buying any digital asset banking, crypto-related assets or the fund banking business. FCNCA assumed Silicon Valley Bank’s assets worth $110 billion, deposits worth $56 billion and loans worth $72 billion.ConclusionOver the past few years, JPMorgan has undertaken several on-bolt acquisitions that have supported its fee income base and improved market share across several products and services.Also, the bank is expanding its footprint in new regions. In 2018, JPM announced plans to enter 25 new markets by opening 400 new branches. The company has made substantial progress on this front, with a presence in 48 of 50 U.S. states.In addition to enhancing market share, the strategy will help the bank grab cross-selling opportunities by increasing its presence in the card and auto loan sectors.Over the past six months, shares of JPMorgan have rallied 13.4% compared with the industry’s rise of 2.7%. Image Source: Zacks Investment Research Currently, JPM carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 JPMorgan Chase & Co. (JPM): Free Stock Analysis Report First Citizens BancShares, Inc. (FCNCA): Free Stock Analysis Report New York Community Bancorp, Inc. (NYCB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Netflix (NFLX) Expands Portfolio With New Italian Content
Netflix (NFLX) expands its footprint in Italy with four new productions. Netflix NFLX is having a steady run in 2023, with shares rising 28.8% year to date compared with the Zacks Consumer Discretionary sector’s increase of 4.6%. The upside can be attributed to an expanding subscriber base and robust content offerings.Netflix continues to bolster its international content portfolio. Italy plays a prominent role in this endeavour through an extensive lineup that includes a wide range of series, films, docuseries and unscripted shows spanning diverse genres, formats and languages.Netflix recently announced four captivating new projects, including Il treno dei bambini, an in-depth exploration of postwar Italy and Fabbricante di lacrime, based on a popular book. Additionally, two fresh series, Storia della mia famiglia and Adorazione, provide deep explorations of intricate family dynamics and young adult experiences.Expanding Portfolio Aids GrowthNetflix is anticipated to gain from its diversified content portfolio, driven by substantial investments in producing and distributing localized, foreign-language content.Netflix is expanding its international content library with the addition of German Originals like Dear Child and K-dramas, including Time Called You and Destined With You. Netflix, Inc. Price and Consensus Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote While Dear Child is placed second in the weekly Top 10 Non-English TV charts with 15.4 million views, Destined With You and Time Called You is ranked second and fourth with 2 million and 3 million views, respectively.This robust momentum in Netflix's foreign-language offerings is expected to boost its top-line growth, even in the face of fierce competition from streaming peers, including Apple AAPL, Disney DIS and Amazon AMZN.Shares of Apple and Amazon have returned 34.5% and 53.7%, respectively, on a year-to-date basis. Disney’s shares have declined 6.5%.For the third quarter of 2023, Netflix forecasts earnings of $3.52 per share, indicating an almost 10% increase from the figure reported in the year-ago quarter. Total revenues are anticipated to be $8.52 billion, suggesting growth of 7% year over year and on a forex-neutral basis.The Zacks Consensus Estimate for Netflix's third-quarter revenue is pegged at $8.53 billion, indicating a 7.59% year-over-year growth. The consensus mark for earnings increased by a penny in the past 30 days to $3.49 per share.Currently, Netflix has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Amazon.com, Inc. (AMZN): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report Netflix, Inc. (NFLX): Free Stock Analysis Report The Walt Disney Company (DIS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
West Fraser (WFG) Inks Deal to Sell Canada Mills to Atlas
West Fraser (WFG) enters an agreement to sell the Quesnel River Pulp and Slave Lake Pulp mills to Atlas Holdings. West Fraser Timber Co. Ltd. WFG announced that it entered a definitive agreement with Atlas Holdings to sell its Quesnel River Pulp mill in Quesnel and its Slave Lake Pulp mill in Slave Lake. This move will allow West Fraser to focus its resources on being the premier wood-building product company in North America.The announced agreement includes related woodlands operations and timber holdings in Alberta, as well as a long-term fiber supply agreement for the Quesnel River Pulp mill.Founded in 2002, Atlas is headquartered in Greenwich, CT. It owns and operates multiple pulp, paper and wood products businesses in Canada and the United States.Millar Western Forest Products will operate the pulp mills at Quesnel River and Slave Lake after the deal is closed. Millar Western is a more than 100-year-old Canada forest products company that joined the Atlas family of manufacturing and distribution businesses in 2017. It is headquartered in Edmonton and has existing pulp mill operations in Alberta, which establishes a strong foundation for the Quesnel River and Slave Lake pulp mills.The sale is expected to close after the completion of customary regulatory reviews and satisfaction of customary closing conditions. The total cash proceeds from the sale amount to $120 million.As of Jun 30, 2023, the company’s cash and short-term investments were $994 million, down from around $1.16 billion as of Dec 31, 2022. Capital expenditure for the second quarter of 2023 was $106 million.In the second quarter of 2023, WFG reported a 1.2% year-over-year decline in revenues to roughly $1.61 billion. The company witnessed challenging demand markets, particularly in the Pulp & Paper segment.Unscheduled downtime events at its mills, including an extended maintenance shutdown at Hinton Pulp, and the curtailment of Cariboo Pulp mill due to fiber supply constraints impacted the results. In the backdrop of declining pulp prices, which led to a significant inventory write-down, the Pulp & Paper segment experienced higher-than-expected losses.Price PerformanceShares of the company have gained 1% over the past year compared with the industry's 19.1% growth. Image Source: Zacks Investment Research Zacks Rank & Stocks to ConsiderWest Fraser currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked stocks from the basic materials space are Hawkins, Inc. HWKN, Carpenter Technology Corporation CRS and L.B. Foster Company FSTR. HWKN and CRS sport a Zacks Rank #1 (Strong Buy) at present, and FSTR carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Hawkins has an average trailing four-quarter earnings surprise of 25.5%. The Zacks Consensus Estimate for HWKN’s fiscal 2024 earnings is pegged at $3.40 per share. The consensus estimate for 2024 earnings has moved 38% north in the past 60 days. Its shares gained 58% in the last year.Carpenter Technology has an average trailing four-quarter earnings surprise of 10%. The Zacks Consensus Estimate for CRS’s fiscal 2024 earnings is pegged at $3.48 per share. The consensus estimate for 2023 earnings has moved 8% north in the past 60 days. Its shares gained 109.6% in the last year.L.B. Foster has an average trailing four-quarter earnings surprise of 134.5%. The Zacks Consensus Estimate for FSTR’s 2023 earnings is pegged at 53 cents per share. Earnings estimates have been unchanged in the past 60 days. FSTR’s shares gained 98.4% in the last year. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Carpenter Technology Corporation (CRS): Free Stock Analysis Report L.B. Foster Company (FSTR): Free Stock Analysis Report Hawkins, Inc. (HWKN): Free Stock Analysis Report West Fraser Timber Co. Ltd. (WFG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Autoliv (ALV) Partners With GWM to Enhance Safety & Experience
Autoliv (ALV) gets together with Great Wall Motor to improve safety solutions and redefine the driving experience. Autoliv China, a division of Autoliv, Inc. ALV, announced a collaboration with Great Wall Motor (GMW), a Chinese automobile manufacturer. Through this partnership, Autoliv wants to consolidate its position with Chinese OEMs.Autoliv and Great Wall Motor have been working together since 2003. During its first collaboration, Autoliv developed and started supplying seatbelts for Haval sport utility vehicles.The latest collaboration focuses on innovation by enhancing the driving experience, such as an overhead passenger airbag that deploys from the car’s ceiling. It also includes an integrated safety system solution for autonomous vehicles. Autoliv’s zero-gravity seat includes airbags and an integrated seatbelt. The safety system is adaptable to the needs of different drivers and passengers.Autoliv China and Great Wall Motor share a common commitment to create low-carbon solutions and plan to develop new products with sustainable materials. These products will use bio-PET in airbag cushions and bio-leather wrapping on steering wheels.Mikael Bratt, president and CEO of Autoliv, said that the company will work closely with the Great Wall Motor team and utilize its knowledge and strength to enhance the safety and driving experience of users across the globe.In 2019, both companies signed a joint research statement for road safety evaluation studies in North America to improve safety and product support for Great Wall Motor’s globalization strategy.Autoliv is at the forefront of automotive safety technology. Content per vehicle growth is expected to be led by continued upgrades in government regulations and crash test ratings, highly safety-focused societies and opportunities coming from new vehicle interiors. With content per vehicle on the rise, Autoliv is set to gain from the growing demand for front-center airbags, rear-side airbags and pedestrian protection products.Zacks Rank & Key PicksALV currently carries a Zacks Rank #3 (Hold).Some top-ranked players in the auto space include Li Auto LI, Gentex Corporation GNTX and Allison Transmission Holdings, Inc. ALSN, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for LI’s 2023 sales and earnings implies year-over-year growth of 154.7% and 9,200%, respectively. The EPS estimate for 2023 and 2024 have moved north by 33 cents and 68 cents, respectively, in the past 60 days.The Zacks Consensus Estimate for GNTX’s 2023 sales and earnings indicates year-over-year rises of 17.3% and 29.4%, respectively. The EPS estimates for 2023 and 2024 have moved up by 7 cents and 9 cents, respectively, in the past 60 days.The Zacks Consensus Estimate for ALSN’s 2023 sales and earnings suggests year-over-year increases of 9.3% and 24.2%, respectively. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Autoliv, Inc. (ALV): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report Gentex Corporation (GNTX): Free Stock Analysis Report Li Auto Inc. Sponsored ADR (LI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
NIO Releases Android Smartphone in the $900-$1,000 Price Range
NIO launches a smartphone in the price range of $900-$1,000 and expects at least half of its users to purchase it. Nio Inc. NIO recently launched an Android smartphone. The automaker expects at least half of its existing users to buy the smartphone. The smartphone is in the price range of $900-$1,000, which is comparatively cheaper than a Huawei smartphone.Per CNBC, more than half of Nio users use iPhones and the other half use Android smartphones from Huawei and other brands. The automaker believes that the other half of its users are more likely to use Nio’s smartphone while changing their phones.Nio is the first Chinese electric vehicle (EV) manufacturer to launch a smartphone. The EV companies in China have made in-car entertainment and mobile phone connectivity a selling point.The company is scheduled to start deliveries of its smartphone from Sep 28.Nio’s Swedish counterpart, Polestar, has plans to launch its smartphone in December. Smartphone giants Apple and Xiaomi have been working on cars as well.Nearly two years ago, Huawei released its electric car brand, Aito, in China. The cars are integrated with the company’s smartphone operating system.Per William Li, CEO of Nio, the smartphone will allow users to seamlessly connect with the car.Anyone in China can buy the smartphone, even if they don’t own a Nio car. The Nio app has 600,000 active users per day, almost 1.5 times its car users.Per Li, the company has no plans to launch the smartphone in Europe, at least not until the market expands.Li called the competition in the domestic EV market “fierce,” but he believes that the company’s business investments will discourage new players from entering the market.Nio previously shared its plan to release a vehicle in the second half of next year under the brand “Alps.”The EV maker has faced financing challenges several times and has delayed investments due to dull deliveries, but the company subsequently received $740 million from an Abu Dhabi-backed fund. It recently announced a refinancing plan for a portion of its debt.Zacks Rank & Key PicksNIO currently carries a Zacks Rank #4 (Sell).Some top-ranked players in the auto space include Li Auto LI, Gentex Corporation GNTX and Allison Transmission Holdings, Inc. ALSN, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for LI’s 2023 sales and earnings implies year-over-year growth of 154.7% and 9,200%, respectively. The EPS estimate for 2023 and 2024 have moved north by 33 cents and 68 cents, respectively, in the past 60 days.The Zacks Consensus Estimate for GNTX’s 2023 sales and earnings indicates year-over-year rises of 17.3% and 29.4%, respectively. The EPS estimates for 2023 and 2024 have moved up by 7 cents and 9 cents, respectively, in the past 60 days.The Zacks Consensus Estimate for ALSN’s 2023 sales and earnings suggests year-over-year increases of 9.3% and 24.2%, respectively. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report Gentex Corporation (GNTX): Free Stock Analysis Report NIO Inc. (NIO): Free Stock Analysis Report Li Auto Inc. Sponsored ADR (LI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Novartis (NVS) Lutathera Meets Primary Goal in Phase III Study
Novartis' (NVS) radioligand therapy Lutathera reports statistically significant and clinically meaningful progression-free survival in first line advanced gastroenteropancreatic neuroendocrine tumors study. Novartis NVS announced that the late-stage NETTER-2 study on Lutathera achieved its primary endpoint in first line advanced gastroenteropancreatic neuroendocrine tumors (GEP-NETs).The phase III NETTER-2 is an open-label, multi-center, randomized, comparator-controlled study evaluating if Lutathera plus long-acting octreotide, when taken as a first line treatment, can prolong progression-free survival (PFS) in patients with high-proliferation rate tumors as compared with treatment with high-dose (60 mg) long-acting octreotide.Data from the study showed that first line treatment with Lutathera, in combination with long-acting octreotide, demonstrated a significant improvement in PFS in patients with newly diagnosed somatostatin receptor (SSTR-positive), Grade 2 and 3 and advanced GEP-NETs as compared with only high-dose long-acting octreotide.Please note that Lutathera is a radioligand therapy (RLT) that was approved in the United States in 2018 for the treatment of SSTR-positive GEP-NETs, including foregut, midgut and hindgut neuroendocrine tumors in adults.The approval was based on the results of the NETTER-1 study, which demonstrated highly significant and clinically meaningful PFS prolongation for patients treated with Lutathera in combination with long-acting octreotide as compared with high-dose long-acting octreotide for SSTR-positive, inoperable midgut NETs who were progressing despite standard treatment.Novartis AG Price and Consensus Novartis AG price-consensus-chart | Novartis AG Quote The RLT was added to the portfolio with the acquisition of Advanced Accelerator Applications.It is also approved in Europe for unresectable or metastatic, progressive, well-differentiated SSTR-positive GEP-NETs in adults.Sales from Lutathera came in at $299 million in the first half of 2023, driven by increased demand in the United States and Japan. Growth in the United States was also fueled by strong field execution. In Japan, growth was driven by increased demand following the transfer of the marketing authorization back to Novartis from Fujifilm Toyama Chemical.Results of NETTER-2 show the potential for radioligand therapy to make a meaningful impact on newly diagnosed patients living with advanced GEP-NETs.Novartis plans to discuss the results with regulatory authorities and regulatory submissions are expected to follow soon.The company is also evaluating a broad portfolio of RLTs, exploring their treatment potential in a range of advanced cancers beyond prostate and GEP-NET, including lung, breast, pancreatic and colon cancer.Concurrently, Novartis confirmed plans for the 100% spin-off of its generic arm, Sandoz, with trading of new Sandoz Group AG shares and American Depositary Receipts (ADRs) to commence on Oct 4, 2023.The spin-off will be completed via the distribution of a dividend-in-kind by Novartis. Each Novartis shareholder will receive one Sandoz share for every five Novartis shares and each Novartis ADR holder will receive one Sandoz ADR for every five Novartis ADRs.Novartis shareholders and ADR holders will receive a cash amount for any fractional interest. The spin-off is expected to be tax-neutral for Swiss tax and US federal income tax purposes.Shares of Novartis have risen 11.5% year-to-date compared with the industry’s 5.7% growth.Image Source: Zacks Investment ResearchWith the planned spin-off of Sandoz, Novartis is looking to become a pure-play pharmaceutical company.While the older drugs face generic competition, the continued strong performance of Entresto, Pluvicto, Kesimpta and Kisqali fueled growth and should maintain momentum.The strong performance of key drugs, strategic acquisitions and a streamlined focus should pave the way for solid growth for NVS in the quarters ahead.Zacks Rank and Stocks to ConsiderNovartis currently carries a Zacks Rank #3 (Hold).Some well-placed stocks in the industry are Eton Pharmaceuticals ETON and Dynavax Technologies DVAX. Eton currently sports a Zacks Rank #1 (Strong Buy) and Dynavax carries a Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.Loss estimates for Eton for 2023 have narrowed to 10 cents from 31 cents in the past 60 days, while earnings estimates for 2024 are pegged at 26 cents per share.Loss estimates for Dynavax for 2023 have narrowed to 23 cents from 56 cents in the past 90 days, while earnings estimates for 2024 are pinned at 3 cents per share. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Novartis AG (NVS): Free Stock Analysis Report Dynavax Technologies Corporation (DVAX): Free Stock Analysis Report Eton Pharmaceuticals, Inc. (ETON): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Will Vistra Corp. (VST) Gain on Rising Earnings Estimates?
Vistra Corp. (VST) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions. Investors might want to bet on Vistra Corp. (VST), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.Consensus earnings estimates for the next quarter and full year have moved considerably higher for Vistra Corp. As there has been strong agreement among the covering analysts in raising estimates.Current-Quarter Estimate RevisionsFor the current quarter, the company is expected to earn $2.52 per share, which is a change of +66.89% from the year-ago reported number.Over the last 30 days, one estimate has moved higher for Vistra Corp. compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 51.81%.Current-Year Estimate RevisionsThe company is expected to earn $3.54 per share for the full year, which represents a change of +220.41% from the prior-year number.In terms of estimate revisions, the trend for the current year also appears quite encouraging for Vistra Corp. Over the past month, one estimate has moved higher compared to no negative revisions, helping the consensus estimate increase 13.83%.Favorable Zacks RankThe promising estimate revisions have helped Vistra Corp. earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.Bottom LineInvestors have been betting on Vistra Corp. because of its solid estimate revisions, as evident from the stock's 10.3% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Vistra Corp. (VST): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
3 Reasons to Hold HealthEquity (HQY) Stock in Your Portfolio
HealthEquity's (HQY) strength in HSA raises optimism about the stock. HealthEquity, Inc. HQY is well-poised for growth in the coming quarters, courtesy of its unique investment platform. The optimism led by a solid second-quarter fiscal 2024 performance and strength in Health Savings Accounts (HSA) are expected to contribute further. However, data security issues and the complexity of regulations are major downsides.Over the past year, the Zacks Rank #3 (Hold) stock has gained 2.8% against the 5.1% decline of the industry. The S&P 500 has witnessed 18.5% growth in the said time frame.The renowned provider of technology-enabled services platforms for healthcare savings and spending decisions has a market capitalization of $6.22 billion. The company projects 23.5% growth for the next five years and expects to witness continued improvements in its business. HealthEquity’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 13%.Image Source: Zacks Investment ResearchLet’s delve deeper.Unique Investment Platform: We are optimistic about HealthEquity’s multiple cloud-based platforms, accessed by its members online via a desktop or mobile device. Individuals can make health-saving and spending decisions and pay healthcare bills, among other activities, via these platforms. These platforms provide users access to services HealthEquity provides as well as services provided by third parties selected by HealthEquity or its Network Partners. Among other features, HealthEquity’s HSA platform has the capability to provide users with medical bills upon adjudication by a health plan, including details such as the amount paid by insurance.Strength in HSA: HealthEquity’s total number of HSAs, as of Jul 31, 2023, rose 8.5% year over year. HealthEquity reported 574,000 HSAs with investments as of Jul 31, 2023, up 11.2% year over year. Total Accounts, as of Jul 31, 2023, were up 3.1% year over year. This uptick included total HSAs and 6.8 million other CDBs. Total HSA assets at the end of Jul 31, 2023, were up 12.9% year over year. This included HSA cash and HSA investments.Strong Q2 Results: HealthEquity saw solid top-line and bottom-line performances in second-quarter fiscal 2024. The top line benefited from robust contributions from all its revenue sources. The expansion of both margins was also seen.DownsidesComplexity of Regulations: HealthEquity’s business, including HSAs and many of the CDBs it administers and investment advisers and trust company subsidiaries, is subject to extensive, complex and frequently changing federal and state laws and regulations. Its subsidiary, HealthEquity Advisors, LLC, is a SEC-registered investment adviser that provides automated web-only investment advisory services. As such, it must comply with the requirements of the Advisers Act and related SEC regulations and is subject to periodic inspections by the SEC staff.Data Security Issues: HealthEquity deals with a high level of sensitive personal data and information. Any security breaches might result in the loss of sensitive information, theft or loss of actual funds, litigation or indemnity obligations to the customers. The company’s ability to ensure the security of its technology platforms and, thus, sensitive customer and partner information is critical to its operations.Estimate TrendHealthEquity has been witnessing a positive estimate revision trend for fiscal 2024. Over the past 90 days, the Zacks Consensus Estimate for its earnings per share has moved 4.7% north to $2.01.The Zacks Consensus Estimate for third-quarter fiscal 2024 revenues is pegged at $242.4 million, suggesting a 12.2% rise from the year-ago reported number.Key PicksSome better-ranked stocks in the broader medical space are DaVita Inc. DVA, McKesson Corporation MCK and Integer Holdings Corporation ITGR.DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.DaVita has gained 16.9% against the industry’s 1.6% decline over the past year.McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 8.1%.McKesson has gained 27.9% compared with the industry’s 20% rise over the past year.Integer Holdings, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.Integer Holdings has gained 29.1% compared with the industry’s 2.8% rise over the past year. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 DaVita Inc. (DVA): Free Stock Analysis Report McKesson Corporation (MCK): Free Stock Analysis Report HealthEquity, Inc. (HQY): Free Stock Analysis Report Integer Holdings Corporation (ITGR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Alphabet"s (GOOGL) Google Unveils AI Features for YouTube
Alphabet (GOOGL) unveils a suite of AI-powered features for its video platform YouTube, diving deeper into the generative AI space. Alphabet’s GOOGL Google has added artificial-intelligence (AI)-powered features to YouTube for video creators.One of the features called Dream Screen, a generative AI-powered tool, adds video backgrounds to short-form videos or Shorts seamlessly. Also, the company introduced the latest production tools for editing short and long-form videos quickly.Further, Google launched YouTube Create, a mobile app designed to streamline video production for creators, offering AI-enabled editing, captioning, voiceover, filters and royalty-free music features.Apart from this, YouTube plans to offer creators AI-powered insights, automatic video dubbing capability and assistance in finding music and soundtracks beyond creation.The above feature additions is likely to help the company gain strong traction among content creators, which in turn will boost YouTube’s user base. This will likely aid the Google Services segment’s performance, which accounted for 88.8% of total revenues in the second-quarter 2023.Additionally, revenues from the Google Services business in the second quarter increased 5.5% year over year to $66.3 billion.Our model estimate for 2023 revenues of the underlined segment is pegged at $2.67 billion, up 5.3% year over year.Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. QuoteGrowing Efforts in Generative AIWe mark the latest move as Alphabet’s growing efforts to integrate generative AI into its products and services.Apart from the latest generative AI features, Google recently announced the general availability of its generative-AI-backed helper, Duet AI, for all Google Workspace apps, helping users to create visual aids, assist in meetings and even attend for them, at a no-cost trial.Alphabet is also set to release its conversational multimodal AI software, Gemini, comprising extensive language models that offer chatbots optimization, text summarization, content generation, email drafts, music lyrics and news articles, enabling users to create personalized content.Further, Google enhanced the model of its chatbot, Bard, by integrating it with Google apps, improving Google it feature and introducing new features like Bard Extensions in English, double-checking responses, uploading images with Lens, obtaining Search images and modifying responses to more than 40 languages.Additionally, Google integrated experimental generative AI features into its search engine, known as the search generative experience, which generates detailed summaries based on Internet and digital sources.We believe that the abovementioned endeavors are likely to strengthen Alphabet’s presence in the booming generative AI space.Per a Fortune Business Insights report, the global generative AI market size is expected to hit $43.87 billion in 2023 and reach $667.96 billion by 2030, exhibiting a CAGR of 47.5% between 2023 and 2030.Growing prospects in the promising generative AI market are expected aid Alphabet in winning investors’ confidence in the near term.Alphabet has gained 47.6% on a year-to-date basis compared with the industry’s growth of 45.8%.Intensifying CompetitionWe note that the latest move will allow Alphabet, which currently carries a Zacks Rank #3 (Hold), to compete well with some notable industry players like Microsoft MSFT, Meta Platforms META and Amazon AMZN, which are also making continuous efforts to boost its generative AI efforts.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Microsoft recently announced OpenAI's DALL-E 3 AI image-synthesis model, which is fully integrated with ChatGPT and challenges previous models by rendering images with complex descriptions and handling in-image text generation.Further, MSFT plans to incorporate the DALL-E 3 text-to-image model into Bing Chat, enabling users to create images directly in a chat.Meanwhile, Meta is set to introduce AI chatbots called Gen AI Personas, with unique personalities to appeal to young users.Additionally, Meta introduced the Shepherd large language model (LLM) process to combat generative AI's inaccurate information, analyzing responses from other LLMs to provide suggestions and refinements.Amazon, which is riding on its AI-powered solution Amazon Bedrock, recently announced the integration of Redis Enterprise Cloud’s vector database capabilities with Bedrock, allowing customers to streamline application development by utilizing a fully managed and high-performance database and facilitating easy API usage of leading foundation models (FMs).Further, AMZN partnered with Anthropic to accelerate the development of Anthropic's FMs, enabling Amazon Web Services’ customers to access these models through Amazon Bedrock, enhancing existing applications and creating new customer experiences. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Amazon.com, Inc. (AMZN): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Progress Software (PRGS) to Post Q3 Earnings: What"s in Store?
Progress Software's (PRGS) third-quarter fiscal 2023 results are likely to reflect gains from a strong portfolio that comprises Loadmaster, Chef, OpenEdge, DataDirect and Sitefinity solutions. Progress Software PRGS is slated to release its third-quarter fiscal 2023 results on Sep 26.For the to-be-reported quarter, the company anticipates non-GAAP revenues in the range of $172 million-$176 million. Non-GAAP earnings are anticipated between 98 cents and $1.02 per share.The Zacks Consensus Estimate for fiscal third-quarter earnings has declined by a penny to $1 per share over the past 30 days, indicating flat year-over-year growth.The consensus mark for revenues is pegged at $173.3 million, indicating 13.22% year-over-year growth.Progress Software Corporation Price and EPS Surprise Progress Software Corporation price-eps-surprise | Progress Software Corporation Quote Progress Software’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 9.51% on average.Factors to NoteThe company has been benefiting from a strong portfolio with a robust adoption rate of its OpenEdge, Loadmaster, Chef, Sitefinity Cloud, and MarkLogic solutions. In the fiscal second quarter, the net dollar retention rate was more than 101%. The trend is expected to have continued in the to-be-reported quarter.Progress Software benefits from a strong clientele. Strong contributions from acquisitions like MarkLogic ($25 million in revenues in the fiscal second quarter) and Kemp are expected to have driven top-line growth in the fiscal third quarter. However, MarkLogic revenues are expected to suffer from seasonality in third-quarter fiscal 2023.Loadmaster, which the company got through the acquisition of Kemp, is benefiting from expanding Dell Technologies DELL sales channel.Loadmaster demand has been strong among Dell’s clients as it makes the environment much more reliable and resilient, thereby improving performance. Meanwhile, Sitefinity Cloud is making jobs easier for marketers, thereby saving marketing costs for clients. These trends are expected to have continued in the to-be-reported quarter, driving top-line growth.Stringent cost management is expected to have benefited bottom-line growth despite headwinds related to persistent inflation, higher interest rates and a challenging macroeconomic environment.What Our Model SaysPer the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.Progress Software has an Earnings ESP of -0.33% and carries a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Stocks to ConsiderHere are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:Asure Software ASUR has an Earnings ESP of +21.74% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.ASUR shares have gained 43.7% year to date. Asure is likely to report its third-quarter 2023 results on Nov 6.Fortive FTV has an Earnings ESP of +3.53% and a Zacks Rank #2.FTV shares have gained 8.5% in the year-to-date period. Fortive is likely to report its third-quarter 2023 results on Oct 25.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Dell Technologies Inc. (DELL): Free Stock Analysis Report Progress Software Corporation (PRGS): Free Stock Analysis Report Asure Software Inc (ASUR): Free Stock Analysis Report Fortive Corporation (FTV): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
QuidelOrtho"s (QDEL) Rapid Antigen Test Gets CLIA Waiver
QuidelOrtho's (QDEL) receipt of the FDA's CLIA waiver is expected to widen access to the rapid antigen test in any point-of-care setting equipped with Sofia 2 instruments. QuidelOrtho Corporation QDEL recently announced that it has been granted a CLIA Waiver by the FDA, which applies to its new Sofia 2 SARS Antigen+ FIA (fluorescent immunoassay). The Sofia 2 SARS Antigen+ FIA, the first rapid antigen test that detects COVID-19 to be awarded FDA market clearance through the FDA’s De Novo process, is now the first rapid antigen test also to receive CLIA waiver.The test, intended for prescription use only, can be used in CLIA-waived point-of-care settings.The latest waiver is likely to significantly boost QuidelOrtho’s Point of Care business unit.A Few Words About the TestThe enhanced Sofia 2 SARS Antigen+ FIA Test kit includes other upgraded features, such as pre-filled reagent vials, improved ergonomic sample extraction and a dropper design for easy dispensing of patient samples into the test cassette sample well. The Sofia 2 instrument also offers two distinct workflows — WALK AWAY Mode and READ NOW Mode.The results obtained via the test kit are for the identification of the SARS-CoV-2 nucleocapsid protein antigen, which is generally detectable in upper respiratory specimens during the acute phase of infection.The Sofia 2 system connects to Virena, QuidelOrtho’s data management system, which provides aggregated, de-identified testing and surveillance data in near real time.Significance of the WaiverFollowing the CLIA waiver, the Sofia 2 SARS Antigen+ FIA is deemed to be simple and has a low risk of error. Hence, it no longer requires administration by trained clinical laboratory personnel, thereby opening broader use in any point-of-care setting equipped with Sofia 2 instruments.The Sofia 2 analyzer utilizes QuidelOrtho’s proprietary fluorescent chemistry design, intuitive graphical user interface and optics system to provide an accurate, objective and automated result in 10 minutes. This is a 33% reduction from the breakthrough 15-minute processing time achieved in the first iterations of the Sofia SARS Antigen FIA assay.Per management, the receipt of the FDA’s CLIA waiver qualifies as a trifecta/milestone of innovation, advancement and accessibility in the in vitro diagnostics space. This is reflective of QuidelOrtho’s efforts to aid customers in reducing costs and speeding workflows, thus delivering improved patient care.Industry ProspectsPer a report by Precedence Research, the global diagnostic testing market was valued at $165.58 billion in 2021 and is anticipated to exceed $348.75 billion by 2030 at a CAGR of approximately 8.6%. Factors like the increasing use of point-of-care diagnostic products and the rising elderly population leading to an increase in the chance of developing a wide range of illnesses (including diabetes) are likely to drive the market.Given the market potential, the latest regulatory achievement will likely provide a significant impetus to QuidelOrtho’s business.Notable DevelopmentLast month, QuidelOrtho reported its second-quarter 2023 results, wherein it registered an uptick in the company’s overall top line. The company recorded a continued uptick in Sofia’s non-COVID pull-through and growth in QuidelOrtho’s integrated installed base and automation. During the quarter, QuidelOrtho completed the Savanna Emergency Use Authorization and 510(k) FDA submissions, including 510(k) for the instrument in both RVP4 and HSV VZV lesion panels.Price PerformanceShares of the company have lost 1.7% in the past year against the industry’s 0.4% rise and the S&P 500's 18.5% growth.Image Source: Zacks Investment ResearchZacks Rank & Key PicksCurrently, QuidelOrtho carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, McKesson Corporation MCK and Integer Holdings Corporation ITGR.DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.DaVita has gained 16.9% against the industry’s 1.6% decline over the past year.McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 8.1%.McKesson has gained 27.9% compared with the industry’s 20% rise over the past year.Integer Holdings, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.Integer Holdings has gained 29.1% compared with the industry’s 2.8% rise over the past year. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 DaVita Inc. (DVA): Free Stock Analysis Report McKesson Corporation (MCK): Free Stock Analysis Report QuidelOrtho Corporation (QDEL): Free Stock Analysis Report Integer Holdings Corporation (ITGR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Amazon (AMZN) Expands Fire TV Portfolio With New Devices
Amazon (AMZN) introduces the all-new Fire TV Stick 4K Max, Fire TV Stick 4K, Fire TV Soundbar and the generative AI voice search feature. Amazon.com AMZN has been continuously putting efforts into strengthening its Fire TV ecosystem on the back of innovative products and technologies.This is evident from the latest introduction of two Fire TV Sticks — the all-new Fire TV Stick 4K Max and Fire TV Stick 4K.The Fire TV Stick 4K Max, priced at $59.99, comes with Ambient Experience, which transforms the TV into a beautiful smart display and now it can turn the TV into an in-home art gallery with over 2,000 free, gallery-quality pieces of artwork.Ambient Experience allows customers to select from motion graphics, landscape art, personalized and always-evolving dynamic art, personal photos and many more.The Fire TV Stick 4K Max features an upgraded 2.0 GHz quad-core processor and 16 GB of storage. It also supports Wi-Fi 6E.The new Fire TV Stick 4K, on the other hand, comes with an updated 1.7 GHz quad-core processor and supports Wi-Fi 6. It delivers a vibrant 4K Ultra HD picture quality and an immersive Dolby Atmos audio experience for under $50.Amazon.com, Inc. Price and Consensus Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. QuoteMore Into the HeadlinesApart from the two new streaming media players, Amazon unveiled the all-new Fire TV Soundbar, priced at $119.99. It is a two-channel companion device offering bold and room-filling sound. This 24-inch device supports all Fire TV devices and allows connection with phones, tablets or any streaming device via Bluetooth.The company has infused generative AI into Fire TV to offer conversational ways to discover content. With this update, users will be able to find TV shows and movies by asking Alexa open-ended questions regarding the content.We note that this generative AI voice search feature, which will be available later this year, is expected to deliver an enhanced Fire TV experience.Growth ProspectsThe latest move is expected to help Amazon rapidly penetrate the booming streaming media player market.Per a report from EXTRAPOLATE, the global streaming devices market will reach $62.1 billion by 2032, witnessing a CAGR of 9.1% between 2023 and 2032.A Maximize Market Research report shows that the market is likely to hit $134.35 billion by 2029, seeing a CAGR of 15.8% between 2023 and 2029.A Statista report indicates that the smart streaming devices market is anticipated to generate revenues worth $8.3 billion in 2023 and is expected to witness a CAGR of 9.8% from 2023 to 2028.This report also shows that the market volume is likely to hit 284.2 million pieces by 2028.We note that Amazon’s growing prospects in this promising market are likely to aid its financial performance, which, in turn, will instill investor optimism in the stock.Amazon has gained 53.8% in the year-to-date period.The Zacks Consensus Estimate for 2023 sales is pegged at $570.8 billion, indicating growth of 11.1% from 2022’s level.Zacks Rank & Other Stocks to ConsiderCurrently, Amazon sports a Zacks Rank #1 (Strong Buy).Investors interested in the broader retail-wholesale sector can consider some other top-ranked stocks like BJ’s Restaurants BJRI, Domino’s Pizza DPZ and Arcos Dorados ARCO. BJRI currently sports a Zacks Rank #1, and DPZ and ARCO each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.BJ’s Restaurants has lost 10.6% in the year-to-date period. The long-term earnings growth rate for BJRI is currently estimated at 15%.Domino’s Pizza shares have gained 11.3% in the year-to-date period. DPZ’s long-term earnings growth rate is currently projected at 12.97%.Arcos Dorados has gained 16% in the year-to-date period. The long-term earnings growth rate for DRI is currently anticipated at 11.4%. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Amazon.com, Inc. (AMZN): Free Stock Analysis Report BJ's Restaurants, Inc. (BJRI): Free Stock Analysis Report Domino's Pizza Inc (DPZ): Free Stock Analysis Report Arcos Dorados Holdings Inc. (ARCO): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Top and Flop Industry ETFs of Q3
The third-quarter was an average-to-downbeat period for investors, mainly due to rising rates. The third-quarter was an average-to-downbeat period for investors, mainly due to rising rates. A cooling U.S. economy, falling consumer confidence, a series of bank downgrades also made matters worse for Wall Street. However, all were not downbeat for the broader market as there were ebbing U.S. recession fears along with several upbeat economic data points and a decent Q2 earnings season.The S&P 500 (down 0.7%), the Nasdaq (down 2.1%) and the Russell 2000 (down 2.5%) have slumped in the third quarter while the Dow Jones (up 0.7%) gained (as of Sep 22, 2023). Against this backdrop, let’s discuss the ETF areas that emerged winners in the third quarter and those that were hit hard.Top IndustriesCannabis – Roundhill Cannabis ETF (WEED) – Up 37.3%In a significant development, the Department of Health and Human Services (HHS) has recently initiated a review of marijuana's classification under the Controlled Substances Act. This move has the potential to impact the burgeoning marijuana industry favorably, which has faced federal restrictions despite state-level legalization efforts (read: Behind the Recent Surge in Marijuana ETFs).Uranium Miners – Sprott Junior Uranium Miners ETF (URNJ) – Up 35%Growing energy concerns and the increasing need for dependable and eco-friendly energy sources are also fueling the surge in uranium ETF. The ability of nuclear power to cut carbon emissions has brought it back in the public eye. Oil Services – Invesco Oil & Gas Services ETF (PXJ) – Up 18.3%The wind is at the back of the Oil and Gas-Field Services Industry as it is poised for growth in the coming year, driven by favorable crude pricing and robust demand for oilfield services. The industry comprises companies that play a pivotal role in supporting exploration and production activities (read: Time for Oilfield Services ETFs?).Shipping – SonicShares Global Shipping ETF (BOAT) – Up 11.4%Global trade is showing promising signs of recovery, as evident from the insights of Vincent Clerc, the CEO of shipping giant Maersk. This, in turn, has proved to be tailwind for the shipping ETFs (read: Time for Shipping ETFs Amid Improving Global Trade Scenario?)Flop IndustriesSolar Power – Global X Solar ETF (RAYS) – Down 25.2%There has been soft U.S. demand for solar equipment. The demand is more lukewarm in states like Texas and Arizona where cheaper electricity prices make the economics of residential solar less attractive. high borrowing costs are also hurting solar companies’ businesses.Defense – Global X Defense Tech ETF (SHLD) – Down 23.2%The aerospace and defense stocks recorded a dip in performance in the third quarter. Like most businesses, higher interest rates can be held responsible for this slump. The underlying Global X Defense Tech Index seeks to provide exposure to defense technology companies that are positioned to benefit from technology, services, systems and hardware that cater to the defense and military sector.Lithium Miners – Sprott Lithium Miners ETF (LITP) – Down 22.5%Lithium carbonate prices have slumped recently, due to the decline in demand for electric vehicles. Battery manufacturers for electric vehicles have gradually reduced their input purchases since the beginning of the third quarter due to their inventories reaching capacity and the depletion of funds from prior government-led incentives, per tradingeconomics.Biotech – Virtus LifeSci Biotech Clinical Trials ETF (BBC) – Down 20.8%Biotech stocks have been on a roller-coaster ride. Rising rate worries weighed on the segment heavily as the segment hails from the high-growth one. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>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 Global X Defense Tech ETF (SHLD): ETF Research Reports Virtus LifeSci Biotech Clinical Trials ETF (BBC): ETF Research Reports Invesco Oil & Gas Services ETF (PXJ): ETF Research Reports SonicShares Global Shipping ETF (BOAT): ETF Research Reports Global X Solar ETF (RAYS): ETF Research Reports Roundhill Cannabis ETF (WEED): ETF Research Reports Sprott Lithium Miners ETF (LITP): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Is Medpace (MEDP) a Solid Growth Stock? 3 Reasons to Think "Yes"
Medpace (MEDP) is well positioned to outperform the market, as it exhibits above-average growth in financials. Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.Our proprietary system currently recommends Medpace (MEDP) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.While there are numerous reasons why the stock of this provider of outsourced clinical development services is a great growth pick right now, we have highlighted three of the most important factors below:Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.While the historical EPS growth rate for Medpace is 30.4%, investors should actually focus on the projected growth. The company's EPS is expected to grow 15.2% this year, crushing the industry average, which calls for EPS growth of -0.2%.Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.Right now, year-over-year cash flow growth for Medpace is 32%, which is higher than many of its peers. In fact, the rate compares to the industry average of 1.3%.While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 22% over the past 3-5 years versus the industry average of 13.6%.Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.There have been upward revisions in current-year earnings estimates for Medpace. The Zacks Consensus Estimate for the current year has surged 2% over the past month.Bottom LineWhile the overall earnings estimate revisions have made Medpace a Zacks Rank #2 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.This combination positions Medpace well for outperformance, so growth investors may want to bet on it. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Medpace Holdings, Inc. (MEDP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Applied Materials (AMAT) is an Incredible Growth Stock: 3 Reasons Why
Applied Materials (AMAT) is well positioned to outperform the market, as it exhibits above-average growth in financials. Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.Our proprietary system currently recommends Applied Materials (AMAT) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.While there are numerous reasons why the stock of this maker of chipmaking equipment is a great growth pick right now, we have highlighted three of the most important factors below:Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.While the historical EPS growth rate for Applied Materials is 24.3%, investors should actually focus on the projected growth. The company's EPS is expected to grow 2.6% this year, crushing the industry average, which calls for EPS growth of -9.5%.Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.Right now, year-over-year cash flow growth for Applied Materials is 7.8%, which is higher than many of its peers. In fact, the rate compares to the industry average of 3.8%.While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 12.9% over the past 3-5 years versus the industry average of 11.5%.Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.There have been upward revisions in current-year earnings estimates for Applied Materials. The Zacks Consensus Estimate for the current year has surged 1.4% over the past month.Bottom LineWhile the overall earnings estimate revisions have made Applied Materials a Zacks Rank #2 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.This combination positions Applied Materials well for outperformance, so growth investors may want to bet on it. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Applied Materials, Inc. (AMAT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Here"s Why Investors Should Retain Acadia Healthcare (ACHC)
Acadia Healthcare (ACHC) is well-poised for growth on the solid demand for behavioral healthcare services, the continuous pursuit of expansion initiatives and growing cash reserves. Acadia Healthcare Company, Inc. ACHC is aided by expanding patient volumes in its U.S. business, an extensive healthcare network resulting from numerous joint ventures (JVs) and other expansion initiatives, as well as a commendable financial position.Zacks Rank & Price PerformanceAcadia Healthcare currently carries a Zacks Rank #3 (Hold).The stock has lost 8.4% in the past three months compared with the industry’s 14.3% fall. The Zacks Medical sector and the S&P 500 composite have declined 6.8% and 0.2%, respectively, in the same time frame. Image Source: Zacks Investment Research Favorable Style ScoreACHC boasts an impressive VGM Score of A. VGM Score helps identify stocks with the most attractive value, the best growth and the most promising momentum.Robust Growth ProspectsThe Zacks Consensus Estimate for Acadia Healthcare’s 2023 earnings is pegged at $3.40 per share, indicating an improvement of 13% from the prior-year reading, while the same for revenues stands at $2.9 billion, implying an 10.4% increase from the prior-year actual.The consensus mark for 2024 earnings is pegged at $3.75 per share, suggesting 10.2% growth from the 2023 estimate. The same for revenues stands at $3.1 billion, which indicates a rise of 9.1% from the 2023 estimate.Northbound Estimate RevisionThe Zacks Consensus Estimate for 2023 earnings has been revised upward 0.9% in the past 30 days.Decent Earnings Surprise HistoryACHC’s bottom line surpassed earnings estimates in two of the trailing four quarters, matched the mark once and missed the same in the remaining one occasion, the average surprise being 2.77%.Business TailwindsA strong U.S. business, gaining from solid patient volumes and operational efficiencies, drives Acadia Healthcare’s top line. Continued incidence of mental health issues among Americans is expected to sustain the solid demand for behavioral healthcare services, which in turn is likely to continue benefiting its revenues in the days ahead. Management forecasts 2023 revenues to be within $2.86-$2.90 billion, the midpoint of which implies a 10.3% improvement from the 2022 reported figure.Acadia Healthcare follows a commendable growth strategy, as part of which it pursues acquisitions, adds beds to its existing facilities and has JVs with renowned U.S. health systems. ACHC remains on track to achieve its target of adding around 300 beds to its existing facilities this year, out of which it has already added 204 beds in the first half of 2023.Strong nationwide demand for the medication-assisted treatment of patients suffering from opioid use disorder may prompt Acadia Healthcare to expand its network of comprehensive treatment centers (CTCs) in the days ahead. ACHC aims to open a minimum of six CTC’s this year.The JV’s enable the behavioral healthcare facility operator to inaugurate new facilities and subsequently, expand its healthcare network and nationwide reach. It has 20 JVs in place, out of which the most recent one was with Nebraska Methodist Health System for building a behavioral health hospital across Iowa and equipping Acadia Healthcare to enter a new state with its acute service line.The portfolio of ACHC comprised 250 behavioral healthcare facilities stretched throughout 39 states and Puerto Rico as of Jun 30, 2023.Acadia Healthcare boasts a strong financial position, supported by solid cash reserves, which remains sufficient enough to service its short-term debt obligations. It also had $505 million available under its $600 million revolving credit facility as of Jun 30, 2023. Adequate cash-generating abilities also bear testament to its financial strength, which equips it to undertake uninterrupted business investments. ACHC’s leverage ratio has been improving for a while.Stocks to ConsiderSome better-ranked stocks in the Medical space are LeMaitre Vascular, Inc. LMAT, HCA Healthcare, Inc. HCA and Alcon Inc. ALC. LeMaitre Vascular currently sports a Zacks Rank #1 (Strong Buy), and HCA Healthcare and Alcon carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.LeMaitre Vascular's earnings surpassed estimates in two of the last four quarters and missed the mark twice, the average surprise being 2.27%. The Zacks Consensus Estimate for LMAT's 2023 earnings indicates a rise of 21.5%, while the same for revenues suggests an improvement of 20.8% from the respective year-ago actuals. The consensus mark for LMAT's 2023 earnings has moved 8.3% north in the past 60 days.The bottom line of HCA Healthcare beat estimates in three of the trailing four quarters and missed the mark once, the average beat being 5.42%. The Zacks Consensus Estimate for HCA’s 2023 earnings indicates a rise of 9.4%, while the same for revenues suggests an improvement of 6% from the respective year-ago actuals. from the prior-year tallies. The consensus mark for HCA’s 2023 earnings has moved 2% north in the past 60 days.Alcon's earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 8.03%. The Zacks Consensus Estimate for ALC's 2023 earnings indicates a rise of 22.8%, while the same for revenues suggests an improvement of 9.5% from the respective year-ago actuals. The consensus mark for ALC’s 2023 earnings has moved 1.1% north in the past 30 days.Shares of LeMaitre Vascular, HCA Healthcare and Alcon have gained 17.1%, 13.9% and 3.2%, respectively, in the past three months. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Alcon (ALC): Free Stock Analysis Report HCA Healthcare, Inc. (HCA): Free Stock Analysis Report Acadia Healthcare Company, Inc. (ACHC): Free Stock Analysis Report LeMaitre Vascular, Inc. (LMAT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
The Easy Way to Become a Landlord
Here's how you can own data centers and shopping malls for little cash. (1:00) - Should You Be Investing Into Real Estate Through A REIT?(5:15) - Tracey’s Top Stock Picks: How To Find The Strongest REITs(24:45) - Episode Roundup: EQIX, PSA, SPG, PK, ABNB, PLYA Podcast@Zacks.com Welcome to Episode #344 of the Value Investor Podcast.Every week, Tracey Ryniec, the editor of Zacks Value Investor portfolio, shares some of her top value investing tips and stock picks.Are you feeling like you missed out on the real estate boom during the last few years? Are you still hoping to become a landlord and own your own piece of the American Dream?There’s a way to do it without even having that much cash. You can buy a REIT.What’s a REIT? It’s a real estate investment trust.A REIT is a company that owns real estate. You can buy a REIT that covers just about any type of real estate including apartments, data centers, cell towers, shopping malls, hotels and resorts, cannabis facilities, self-storage, laboratories, offices, warehouses and medical facilities.90% of the income the REIT makes must be paid out to shareholders each year.4 REITs and One Stock to Get Real Estate Exposure 1. Equinix, Inc. (EQIX)Equinix has a $70 billion market cap and calls itself the “world’s digital infrastructure company.” It specializes in data centers. In the second quarter, Equinix’s revenue was up 11% on strong demand due to AI. Equinix has 53 major projects underway across 40 metros in 24 countries.Shares of Equinix are up 11.7% year-to-date. It trades with a forward P/E of 23.7 but has a PEG of just 1.6.Equinix pays a dividend yielding 1.8%.Should investors interested in data centers have Equinix on their short list?2. Public Storage (PSA)Public Storage is a $48 billion market cap self-storage REIT. Public Storage recently spent $2.2 billion to acquire Simply Self Storage which has 127 properties in 18 states. 65% of them are in the high growth sunbelt.Shares of Public Storage are down 6.1% year-to-date. It’s cheap, with a forward P/E of 16.Public Storage pays a dividend of 4.5%.Should you own a self-storage REIT like Public Storage?3. Simon Property Group (SPG)Simon Property Group is a $43 billion REIT which owns premier shopping experiences in North America, Europe and Asia. Shares of Simon Property Group rose off its pandemic lows but are down 4.9% this year.Simon Property Group pays a high dividend currently yielding 6.7%.Should investors be keeping a shopping mall REIT like Simon Property Group on their short list?4. Park Hotels & Resorts (PK) Park Hotels & Resorts is a REIT which owns 41 Hilton hotels. It has a market cap of $2.7 billion. Last quarter RevPar increased in urban hotels with the NY Hilton Midtown up 26% and Chicago and DC up 23%. Forward bookings continued to increase.Shares of Park Hotels & Resorts are up just 1% year-to-date but they are cheap. It has a forward P/E of 6.5 and a PEG of 0.8.Park Hotels & Resorts pays a dividend yielding 4.9%.Should investors be considering owning hotels like Park Hotels & Resorts?5. Playa Hotels & Resorts N.V. (PLYA)Playa Hotels & Resorts is not a REIT. It’s a small cap company, with a market cap of $1.08 billion, which owns and operates 26 resorts under several brand names including Hyatt, Hilton, Jewel and Wyndham in Mexico, Jamaica and the Dominican Republic. Playa Hotels & Resorts has been a pandemic winner as consumers want to travel. In the second quarter of 2023, Jamaica had record second quarter occupancy.Playa Hotels and Resorts doesn’t pay a dividend but it repurchased 3.7 million shares for $34.2 million in the second quarter.Shares of Playa Hotels & Resorts are up 8.6% year-to-date. It’s still attractively priced, with a forward P/E of just 16.Should investors skip the REITs and buy a stock like Playa Hotels & Resorts if they want to own hotels?What Else Do You Need to Know About REITs? Tune into this week’s podcast to find out. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Public Storage (PSA): Free Stock Analysis Report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Equinix, Inc. (EQIX): Free Stock Analysis Report Park Hotels & Resorts Inc. (PK): Free Stock Analysis Report Playa Hotels & Resorts N.V. (PLYA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Don"t Fear Higher Rates, Tech ETFs Will Rule
After a great start to 2023, Wall Street started to waver in the second half as the inflation is still hot and rates are likely to remain higher for longer. After a great start to 2023, Wall Street started to waver in the second half as the inflation is still hot and rates are likely to remain higher for longer. Though the Fed has stayed put in September, the U.S. central banks indicated that rates will remain higher for longer. No rate cuts are expected in the near term.Growth stocks that the tech-heavy Nasdaq primarily hold underperform in a rising rate environment. Hence, the index-100 ETF Invesco QQQ Trust QQQ slumped 1.6% past month (as of Sep 22, 2023) while the S&P 500 lost 1.8%.Is the Worry for Higher Rates Exaggerated?We believe that no matter if the Fed hikes, pauses, or cuts, tech investing will be in fine fettle this year due to the AI boom and the perception that the era of rock-bottom rates is over. Both tech and higher rates are the new normal, and investors are becoming accustomed to it. According to a recent note by Wedbush analyst Dan Ives, the technology sector is poised to weather a prolonged phase of increased interest rates, per a Business Insider article, as quoted on Yahoo Finance.2023’s AI Frenzy Is Not Same As 2000’s Tech BubbleThe dramatic rise in big tech companies won't come to an end like what the industry saw after the tech boom of the 1990s, according to some on Wall Street, as quoted on Yahoo. Dan Ives commented that "don't be unnerved by the Federal Reserve's and macroeconomic factors. Instead, focus on the imminent, most significant tech revolution we've seen in three decades," per the above-mentioned article.He also hinted that any prospective reductions in interest rates – with the market forecasting at least two for the next year – coupled with the ongoing rise of artificial intelligence, could catalyze a "risk-on environment." Jefferies equity analyst Mark Lipacis believes that 1990s saw companies invest into a Field of Dreams-esque. But AI transformation is hard-core reality.AI's potential has already boosted the earnings outlook for leading tech firms such as Nvidia, Microsoft, and Adobe. Ives also mentioned that preliminary assessments of corporate IT expenditure show a slight uptick, indicating a favorable trend for software, semiconductors, and digital media equities.Per Nvidia founder & CEO Jensen Huang, demand for our data center platform for AI is huge and broad-based. According to Huang's estimate, the value of data centers within cloud and enterprise software systems is around $1 trillion.ETFs in FocusAgainst this backdrop, below we highlight a few tech ETFs that could be up for gains in the ongoing AI transition process.Global X Robotics & Artificial Intelligence ETF BOTZThe underlying Indxx Global Robotics & Artificial Intelligence Thematic Index invests in companies that potentially stand to benefit from increased adoption and utilization of robotics and artificial intelligence, including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles. The fund charges 69 bps in fees.SPDR S&P Software & Services ETF XSWThe underlying S&P Software & Services Select Industry Index represents the software sub-industry portion of the S&P Total Stock Market Index. The S&P TMI tracks all the U.S. common stocks listed on the NYSE, AMEX, NASDAQ National Market and NASDAQ Global Select Market. The Software Index is a modified equal weight index. The fund has a Zacks Rank #2 (Buy).VanEck Semiconductor ETF SMHThe underlying MVIS US Listed Semiconductor 25 Index tracks the overall performance of companies involved in semiconductor production and equipment. The fund has a Zacks Rank #2 and charges 35 bps in fees.First Trust Cloud Computing ETF SKYYThe underlying ISE Cloud Computing Index is a modified market capitalization weighted index designed to track the performance of companies actively involved in the cloud computing industry. The Zacks Rank #2 fund charges 35 bps in fees. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>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 Invesco QQQ (QQQ): ETF Research Reports VanEck Semiconductor ETF (SMH): ETF Research Reports First Trust Cloud Computing ETF (SKYY): ETF Research Reports SPDR S&P Software & Services ETF (XSW): ETF Research Reports Global X Robotics & Artificial Intelligence ETF (BOTZ): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Microsoft"s (MSFT) Activision Deal Moves Closer to UK Approval
Microsoft's (MSFT) $69-billion deal to buy Activision Blizzard is set to be cleared after the U.K.'s competition regulator said that a revised deal addressed its concerns provisionally. Microsoft MSFT has come one step closer to completing its $69-billion purchase of the video game maker, Activision Blizzard ATVI. The U.K.'s Competition and Markets Authority (CMA) has finally approved the acquisition, albeit provisionally.The CMA has consistently been focused on preserving competition and choice in cloud gaming. Earlier in the year, the CMA blocked Microsoft's attempt to acquire the entire Activision Blizzard company due to concerns about competition in the cloud gaming market in the U.K.In response to the CMA's concerns, MSFT submitted a restructured transaction in August. Under this new deal, the company will not acquire the cloud gaming rights held by Activision. Instead, the cloud gaming rights will be sold to an independent third party, Ubisoft Entertainment SA UBSFY, before the deal is completed. This move establishes Ubisoft as a key supplier of content to cloud gaming services, which is similar to the role Activision would have played.Ubisoft will have the freedom to offer Activision's games directly to consumers and to all cloud gaming service providers in various ways, including buy-to-play or subscription services. The deal with Ubisoft also requires Microsoft to make Activision games available on operating systems other than Windows and support game emulators upon request.The CMA has concluded that the restructured deal addresses most of its concerns about competition. It ensures that important gaming content remains in the hands of an independent supplier (Ubisoft), preventing Microsoft from consolidating too much control in the cloud gaming market.However, the CMA still has some limited concerns about certain provisions in the sale to Ubisoft, which could be circumvented or not enforced. To address these concerns, MSFT has offered additional remedies to make sure that the terms of the sale of Activision's cloud streaming rights to Ubisoft are enforceable. The CMA has provisionally concluded that these remedies should resolve the remaining concerns.The CMA has opened a consultation on Microsoft's proposed remedies, which will run until Oct 6.Microsoft Corporation Price and Consensus Microsoft Corporation price-consensus-chart | Microsoft Corporation QuoteWill Microsoft's Latest Gambit Work?Microsoft remains committed to providing cloud streaming rights in the European Economic Area. The agreement with Ubisoft is structured in a way that allows Microsoft to meet its legal obligations to the European Commission and other existing contractual commitments to cloud game streaming providers. This suggests that MSFT is taking steps to ensure that its actions align with regulatory requirements.Shares of the company have gained 32.2% year to date compared with the Zacks Computer and Technology sector’s rise of 32.5%.Microsoft views these developments as positive for various stakeholders, including players, developers, the cloud game streaming market and the gaming industry as a whole.This Zacks Rank #3 (Hold) company has been working to obtain regulatory approval for the transaction and has made binding legal commitments to address concerns. These commitments ensure that Call of Duty and other Activision Blizzard games will be available on rival consoles, including Sony SONY and cloud streaming platforms. The transaction is now in a position to move forward in more than 40 countries.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.To alleviate regulatory concerns and promote competition in the cloud gaming market, Microsoft has signed agreements with Nintendo and Nvidia. These agreements commit to keeping Activision Blizzard games available on competing platforms for at least 10 years, further ensuring access to these games on various platforms. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Microsoft Corporation (MSFT): Free Stock Analysis Report Activision Blizzard, Inc (ATVI): Free Stock Analysis Report UbiSoft Entertainment Inc. (UBSFY): Free Stock Analysis Report Sony Corporation (SONY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
Monday links: doing nothing
CashAdvisers are seeing more clients interested in cash. (etf.com)Higher yields are going to be a headwind for risky asset classes. (mrzepczynski.blogspot.com)FinanceZero-day options make up 50% of the S&P 500 options volume. (ft.com)Betterment is closing two of its crypto strategies. (citywire.com)CompaniesAmazon ($AMZN) just made a big investment in AI startup Anthropic. (axios.com)Post pandemic, Bowlero ($BOWL) is running into issues. (herbgreenberg.substack.com)Joby Aviation ($JOBY) just delivered its first vehicle to the U.S. Air Force. (flyingmag.com)FinanceMuni bond issuers are not free from the risks of climate change. (barrons.com)Longer-lived PE funds are making life difficult for pension funds. (bloomberg.com)GlobalGreece's economy is booming. (nytimes.com)The war has accelerated Ukraine's demographic crisis. (wsj.com)How companies are de-risking their Chinese operations. (ft.com)EconomyThese coincident indicators are not screaming recession. (econbrowser.com)Data revisions make policy making challenging. (stayathomemacro.substack.com)Earlier on Abnormal ReturnsAdviser links: building your bench. (abnormalreturns.com)Netflix's DVD-by-mail business is winding up. (abnormalreturns.com)What you missed in our Sunday linkfest. (abnormalreturns.com)Top clicks last week on the site. (abnormalreturns.com)Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)Mixed mediaPersonal sharing is booming on LinkedIn. (businessinsider.com)Why technology hasn't killed the book. (theatlantic.com)How to not be fooled by viral charts. (noahpinion.blog).....»»
First US Abrams Tanks Arrive In Ukraine, Officials Admit They "Risk Being Destroyed"
First US Abrams Tanks Arrive In Ukraine, Officials Admit They "Risk Being Destroyed" Ukrainian President Volodymyr Zelensky has confirmed reception of the first delivery of US Abrams battle tanks, after President Biden last week made it clear they would finally arrive within days of his meeting with Zelensky at the White House. "Good news from Minister (of Defence) Umerov. Abrams are already in Ukraine and are being prepared to reinforce our brigades," Zelensky announced on Telegram. His hope is that it will boost Ukrainian forces amid the stalled offensive, as US officials have said the arrival was "months ahead of estimates, and in time to be used in Ukraine’s counteroffensive against Russia." Illustrative image: US Army/Flickr CC A group of Ukrainian tank operators and their support crew reportedly wrapped up training by late August, and it's believed that a likely ten of the 31 Abrams committed have now been delivered as of Saturday. Two US official explained to The New York Times: More M1 Abrams tanks will be sent in the coming months, the officials said, noting that those that were shipped into Ukraine on Saturday represented the first of 31 that the Biden administration has promised to send. The officials would not say how many have been delivered so far. The Abrams will be among other tanks in Ukraine’s arsenal that it could use to push into, and possibly reclaim, Russian-held territory in Ukraine’s eastern and southern regions, where fighting has ground on for months without major breakthroughs. But Kyrylo Budanov, the head of Ukraine’s military intelligence, has warned that the Abrams would need to be deployed "in a very tailored way, for very specific, well-crafted operations," or risk being destroyed. Indeed Moscow has declared open season on Western-supplied tanks and equipment, and has already had battlefield succusses in destroying some of them. For example, the UK Challenger II and Germany's Leopard, have thus far made little discernable difference along the stalemated front lines. At least one or more UK Challengers were destroyed, it was confirmed early this month. This was a first for the Challenger II in its history of production, as British defense officials later conceded. There are also fresh Russian media reports that another Leopard tank has been disabled, and that some Germany operators have been captured (though these reports remains unverified): Scouts of the Russian Armed Forces destroyed a Leopard tank transferred to Ukraine with an entirely German crew consisting of servicemen of the German Armed Forces. “When we stopped their “meat” assault and captured Leopard, we moved towards the burnt equipment in the hope of… pic.twitter.com/28yVlTWe8X — Olga Bazova (@OlgaBazova) September 23, 2023 Russia maintains firm hold over much of the east, has dug it its positions, and established miles of deadly mine fields. The NY Times agrees it is going to be difficult to advance even with the Abrams: If they are simply sent to the front lines to try to punch through Russian defenses, General Budanov said last week in an interview with an American military blog, "they will not live very long on the battlefield. They need to be used in those breakthrough operations, but very well prepared." The Pentagon had previously announced that "The U.S. is committed to expedite delivery of the 31 tanks to Ukraine by the fall." By then it could already become clear whether or not the US Abrams will make any level of difference on the battlefield for Kiev. Tyler Durden Mon, 09/25/2023 - 10:20.....»»
Key Events This Week: GDP Revised Lower; PCE And Durables On Deck
Key Events This Week: GDP Revised Lower; PCE And Durables On Deck This week one of the main highlights will take markets through what DB's Jim Reid calls "a full on Back to the Future and Quantum Leap (his favorite show as a teenager) moment" as the-every-5-years US GDP revisions take place on Thursday alongside the final Q2 2023 revisions (unch at 2.4% expected). GDP will be revised (lower) from Q1 2005 through Q1 2023, although revisions prior to the first quarter of 2013 will be offsetting across industries within each period. Gross domestic income (GDI) and select income components will be revised from Q1 1979 through Q1 2023. As Reid showed in a recent Chart of the Day, the current big gap between US GDI and GDP could be explained by erroneous recent data showing that net interest payments have been going down in the US as rates and yields have been soaring in the last 2 years. While it's possible that revisions could make GDI look more healthy (interest payments add income to parts of the economy) but also make interest costs in the economy look more realistic and hurt fundamental models of interest cover for those indebted. Anyway, the revisions are potentially an important event and could make us think differently about the US economy in the recent past and therefore the future. Outside of the downward GDP revision, the core PCE deflator on Friday is as important. DB economists point out that the data from the August CPI and PPI releases point to a slightly softer reading (+0.20% vs. +0.22% last month), which would have the effect of lowering the year-over-year growth rate by a little over 30bps (to 3.9%). As they highlight, the Fed's latest SEP forecast for Q4/Q4 core PCE inflation last week was 3.7%, which implies a modest re-acceleration in the monthly prints. This is one reason why they - and many others - believe that the bar is relatively high for the Fed to hike again before year-end. Staying with inflation, over in Europe, the flash September CPIs kick off with prints from Germany on Thursday. The numbers for the Eurozone, France and Italy will be out on Friday. Friday also sees Tokyo CPI which is an important economy wide lead indicator as the BoJ considers more radical changes to its monetary policy soon. Elsewhere in the US we have new home sales and consumer confidence tomorrow, durable goods on Thursday with trade numbers and personal income and consumption numbers on Friday. In Europe, Germany sees the Ifo survey today, consumer confidence on Wednesday and labour market data on Friday. In France, consumer confidence will be out on Wednesday and consumer spending data is due Friday. Sentiment gauges will also be out in Italy and the Eurozone on Thursday. Here is a day by day summary of key events this week courtesy of DB: Monday September 25 Data: US September Dallas Fed manufacturing activity, August Chicago Fed national activity index, Japan August nationwide department store sales, Germany September Ifo survey Central banks: Fed's Kashkari speaks, ECB's Villeroy speaks Tuesday September 26 Data: US September Conference Board consumer confidence, Richmond Fed manufacturing index, business conditions, Philadelphia Fed non-manufacturing activity, Dallas Fed services activity, August new home sales, July FHFA house price index, Japan August services PPI Central banks: Fed's Bowman speaks, ECB's Lane speaks Earnings: Costco Wednesday September 27 Data: US August durable goods orders, China August industrial profits, Germany October GfK consumer confidence, France September consumer confidence, Eurozone August M3 Central banks: BoJ minutes of July meeting Earnings: H&M, Micron Thursday September 28 Data: US September Kansas City Fed manufacturing activity, August pending home sales, initial jobless claims, Italy September manufacturing confidence, economic sentiment, consumer confidence, August PPI, Germany September CPI, Eurozone September services confidence, industrial confidence, economic confidence Central banks: Fed's Powell, Cook and Goolsbee speak, ECB's Holzmann speaks Earnings: Nike, Accenture, BlackBerry Friday September 29 Data: US September MNI Chicago PMI, Kansas City Fed services activity, August personal income and spending, PCE deflator, advance goods trade balance, wholesale and retail inventories, UK September Lloyds business barometer, August net consumer credit, mortgage approvals, M4, Q2 current account balance, Japan September Tokyo CPI, consumer confidence index, August retail sales, jobto-applicant ratio, jobless rate, industrial production, housing starts, Italy September CPI, July industrial sales, Germany September unemployment claims rate, France September CPI, August PPI, consumer spending, Eurozone September CPI, Canada July GDP Central banks: Fed's Williams and Barkin speak, ECB's Lagarde speaks * * * Finally, looking at just the US, Goldman writes that the key economic data releases this week are the durable goods report on Wednesday and the core PCE report on Friday. There are several speaking engagements from Fed officials this week, including chair Powell, governors Bowman and Cook, and presidents Kashkari, Goolsbee, Barkin, and Williams. Monday, September 25 10:30 AM Dallas Fed manufacturing activity, September (consensus -13.0, last -17.2) 06:00 PM Minneapolis Fed President Kashkari (FOMC voter) speaks: Minneapolis Fed President Neel Kashkari will participate in Q&A at University of Pennsylvania’s Wharton School. A Q&A with audience is expected. On September 22, Kashkari said, “Consumer spending continues to exceed our expectations. I would have thought with 500bp or 525bp of interest rate increases we would have slammed the brakes on consumer spending, and it has not.” Tuesday, September 26 09:00 AM FHFA house price index, July (consensus +0.4%, last +0.3%) 09:00 AM S&P Case-Shiller 20-city home price index, July (GS +0.8%, consensus +0.65%, last +0.92%) 10:00 AM New home sales, August (GS -3.0%, consensus -2.2%, last +4.4%) 10:00 AM Conference Board consumer confidence, September (GS 105.7, consensus 105.5, last 106.1) 10:00 AM Richmond Fed manufacturing index, September (consensus -7, last -7) 01:30 PM Fed Governor Bowman speaks: Fed Governor Michelle Bowman will deliver welcoming remarks at a Fed Communities event on rental housing affordability. Speech text is expected. On September 22, Bowman said, “Inflation is still too high, and I expect it will likely be appropriate for the (Federal Open Market) Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2% goal in a timely way…Progress on inflation is likely to be slow given the current level of monetary policy restraint.” Wednesday, September 27 08:30 AM Durable goods orders, August preliminary (GS -1.5%, consensus -0.5%, last -5.2%); Durable goods orders ex-transportation, August preliminary (GS +0.6%, consensus +0.1%, last +0.4%); Core capital goods orders, August preliminary (GS +0.6%, consensus +0.1%, last +0.1%); Core capital goods shipments, August preliminary (GS +0.4%, consensus -0.1%, last -0.3%): We estimate that durable goods orders fell 1.5% in the preliminary August report (mom sa), reflecting a further decline in commercial aircraft orders. We forecast stronger details however, including a 0.6% rise in core capital goods orders and a 0.4% rise in core capital goods shipments, reflecting a pickup in global industrial activity. Thursday, September 28 08:30 AM Initial jobless claims, week ended September 23 (GS 215k, consensus 215k, last 201k): Continuing jobless claims, week ended September 16 (consensus 1,675k, last 1,662k) 08:30 AM GDP (third), Q2 (GS +2.1%, consensus +2.2%, last +2.1%); Personal consumption, Q2 (GS +1.7%, consensus +1.7%, last +1.7%): We assume no revision on net in the third vintage of the Q2 GDP report (previously reported at +2.1% qoq ar). 09:00 AM Chicago Fed President Goolsbee (FOMC voter) speaks: Chicago Fed President Austan Goolsbee will deliver a speech on economic policy at the Peterson Institute for International Economics. A moderated Q&A is expected. On September 7, Goolsbee said, “We’ve seen a lot of components of inflation coming down. But the overall level of inflation is still above where we want it to be. And you would need to see [the slowing in inflation] continue with some persistence, to really be feeling like...we’re going to get all the way down.” 10:00 AM Pending home sales, August (GS -5.0%, consensus -1.0%, last +0.9%) 11:00 AM Kansas City Fed manufacturing index, September (consensus -2, last 0) 01:00 PM Fed Governor Cook speaks: Fed Governor Lisa Cook will deliver closing remarks at the Minorities in Banking Forum. Speech text is expected. On September 22, when discussing the potential impact of AI on the economy and monetary policy, Cook said, “Empirical evidence is still patchy, but there is work showing that generative AI improves productivity in a variety of settings…Any large change in the labor force will generate disruptions and challenges that will need to be addressed to help workers adapt and thrive.” 04:00 PM Fed Chair Powell speaks: Fed Chair Jerome Powell will host a town hall with educators. He will respond to questions from the in-person audience and participants who join the event virtually. In his post-FOMC press conference on September 20, Powell volunteered that neutral might have risen and that the short-run neutral rate could be higher than the longer run rate shown in the dot plot. We viewed the meeting as raising the bar for rate cuts next year and pushed the first cut in our forecast back from 2024Q2 to 2024Q4. 07:00 PM Richmond Fed President Barkin (FOMC non-voter) speaks: Richmond Fed President Tom Barkin will deliver a speech on the monetary policy outlook at a Money Marketeers of New York University event. The event is open to media. On August 22, Barkin said, “the reacceleration scenario has come onto the table in a way that it really wasn't three or four months ago… If I got convinced that inflation was remaining high and demand was giving no signal that inflation was going to come down, that would make the case [for a higher fed funds rate].” Friday, September 29 08:30 AM Advance goods trade balance, August (GS -$89.5bn, consensus -$91.4bn, last -$90.9bn) 08:30 AM Wholesale inventories, August preliminary (consensus -0.2%, last -0.2%) 08:30 AM Personal spending, August (GS +0.5%, consensus +0.4%, last +0.8%); Personal income, August (GS +0.6%, consensus +0.4%, last +0.2%); PCE price index, August (GS +0.37%, consensus +0.5%, last +0.2%); Core PCE price index, August (GS +0.12%, consensus +0.2%, last +0.2%): We estimate personal spending decreased 0.3pp and personal income increased 0.4pp. We also estimate August core PCE inflation was +0.12% (mom) and headline PCE inflation was +0.37% (mom), corresponding to year-over-year rates of +3.79% and +3.38%, respectively. 10:00 AM University of Michigan consumer sentiment, September preliminary (GS 67.9, consensus 67.7, last 67.7); University of Michigan 5–10-year inflation expectations, September preliminary (GS 2.8%, last 2.7%): We estimate consumer sentiment edged up 0.2pt and that the report's measure of long-term inflation expectations rebounded by 0.1pp to 2.8%, reflecting higher gasoline prices. 12:45 PM New York Fed President Williams (FOMC voter) speaks: New York Fed President John Williams will speak at an event hosted by the Long Island Association. Speech text and a moderated Q&A are expected. On September 7, Williams said, “I think we’ve gotten monetary policy in a very good place in terms of we have a restrictive stance of policy…We’ll have to keep watching the data carefully analyzing all of that and really asking ourselves the question: is this sufficiently restrictive. Do we need to maybe raise rates again to make sure that we’re keeping that steady progress in terms of shrinking imbalances in the labor market and bring inflation back down?” He added, “all that talk about we're about to have a recession has vanished.” Source: DB, Goldman, BofA, Tyler Durden Mon, 09/25/2023 - 10:30.....»»
Cash Will Be No Refuge Under CBDCs
Cash Will Be No Refuge Under CBDCs.....»»
Evergrande Former CEO And CFO Arrested As Insolvent Property Giant Misses Payment On $550MM Onshore Bond
Evergrande Former CEO And CFO Arrested As Insolvent Property Giant Misses Payment On $550MM Onshore Bond It has been another stormy day for China's property sector which plunged 7%, erasing all gains since the Nov 2022 lows... ... driven by the latest collapse in (insolvent) Evergrande shares which, after soaring on a furious short squeeze three weeks ago... ... plunged as much as 24% in Hong Kong after the distressed developer canceled key creditor meetings that had been set for this week and said it must reassess its proposed restructuring. The real estate giant said late Sunday it couldn’t satisfy requirements of the China Securities Regulatory Commission and the National Development and Reform Commission to issue new notes. It cited an investigation of subsidiary Hengda Real Estate Group without elaborating. The unit said in August that CSRC had built a case against it relating to suspected information disclosure violations. Commenting on the slide, Bloomberg said that Evergrande "is running out of time to get what would be one of the nation’s biggest-ever restructurings back on track, after setbacks in recent days that raise the risk of liquidation." The string of surprise developments include scrapping key creditor meetings at the last minute, saying it must revisit its restructuring plan, detention of money management unit staff and an inability to meet regulator qualifications to issue new bonds. That last item is a major setback to its planned restructuring of at least $30 billion of offshore debt that would have creditors swap defaulted notes for new securities. Evergrande’s shares plunged as much as 25% Monday. The latest sign of trouble (in what has been an endless barrage for the past two years) at Evergrande caused simmering worries about China’s deepening property crisis to flare. As noted above, a Bloomberg index of Chinese property stocks tumbled the most in nine months on Monday, taking its loss in valuation this year to $55 billion. China Aoyuan Group Ltd. slumped by a record after its shares resumed trading, and property investing firm China Oceanwide Holdings Ltd. faced court-ordered liquidation after a Bermuda court issued a winding-up order. Things went from bad to worse, this morning when Evergrande’s onshore unit effectively redefaulted when it said it missed principal and interest payments of a 4b yuan ($550 million) onshore bond with a put option issued in 2020, according to a Shenzhen stock exchange filing. And while the company assured investors that it will “actively” negotiate with bond holders to reach solutions as soon as possible, it will hardly come as a comfort to the company's other creditors or the property sector in general, which now has nothing but more pain to look forward to. Two people who certainly have nothing to look forward to any more, are former Evergrande CEO, Xia Haijun, and Pan Darong, a former chief financial officer, both of whom were arrested by Chinese authorities, Caixin reported, without identifying sources. Both were in charge of Evergrande’s financial operations and resigned in July last year for their alleged involvement in a bank deposit scandal, according to the report. Some more details from the report, which notes that as Evergrande's financial trouble intensifies, pressure has been building for the developer to repay wealth management products sold by the subsidiary to retail investors while trying to complete housing projects across the country. The subsidiary said in an August statement that it had failed to make payments for the month, fueling public outcry. While the reason for the investigation into Pan is unknown, some sources said it could be linked to his past work on overseeing repayments of the wealth management products. More than 10 people working for the subsidiary, mainly managerial personnel, including General Manager Du Liang and Deputy General Manager Yao Bencai, have been arrested or detained by police for alleged illegal fundraising by the company. The funds raised from selling wealth management products had likely been used by Evergrande for property development, the people said. Xu Tenghe, Evergrande Chairman Xu Jiayin’s second son who also goes by Peter Xu, was the group executive in charge of overseeing the wealth management subsidiary in 2021, when its failure to repay investors led to protests, a person close to the company told Caixin. In addition, Zhu Jialin, a former chairman of Evergrande Life Assurance Co. Ltd. who now works for Zhongrong Life Insurance Co. Ltd., was detained by authorities on Sept. 17, sources familiar with the issue said. There’s speculation among industry insiders that the probe is connected with Zhu’s Evergrande stint. As a reminder, in July Evergrande reported a staggering loss of 105.9 billion yuan ($15.7 billion) for 2022, following a loss of 476 billion yuan the previous year. Its total liabilities reached nearly 2.6 trillion yuan at the end of 2021, before falling slightly to around 2.4 trillion yuan a year later. Tyler Durden Mon, 09/25/2023 - 11:08.....»»
Harold Hamm Urges Consistency In US Oil And Gas Regulation
Harold Hamm Urges Consistency In US Oil And Gas Regulation Authored by Tsvetana Paraskova via OilPrice.com, Shale pioneer Harold Hamm, the founder of Continental Resources, has called for the uncertainty in U.S. oil and gas regulations to end so that the industry can have clearer advance plans on drilling and production operations. The current U.S. Administration’s policies regarding oil and gas are “like riding a roller coaster,” Hamm told oil industry executives and politicians in Oklahoma City, as carried by Bloomberg. “It’s so important that we have an energy policy that’s lasting and somebody can’t tinker with it from one administration to the next,” according to the shale tycoon who has been criticizing the Biden Administration for its “failed policies on energy.” Last year, when gasoline prices were soaring in the wake of the Russian invasion of Ukraine, Hamm said, referring to the U.S. Administration: “They are not giving us any break out here in the field to produce more hydrocarbons,” adding that leasing was not happening and access to federal permits was not enough. Reduced access to drilling on federal lands is only raising energy costs, the shale mogul said at this weekend’s event in Oklahoma City. “When the federal leases were pulled off the table with this latest administration, it took a full year just to modify everybody’s drilling plans,” Bloomberg quoted Hamm as saying. The U.S. oil and gas industry, represented by the American Petroleum Institute (API) and 13 other energy trade associations, urged last week the Bureau of Land Management (BLM) to revise a proposed rule on federal leasing and called on the Biden Administration “to prioritize the energy needs of the American people by developing fair and consistent federal leasing regulations.” The associations expressed concern over the damaging impact the rule could have on American energy security. It imposes unreasonable new financial burdens on lessees and operators, the associations said in comments to the proposed rule. “Because of the vital importance of energy production on public lands, overreaching land management regulations place our domestic energy supply at risk,” Holly Hopkins, API Vice President of Upstream Policy, said in a statement. Tyler Durden Mon, 09/25/2023 - 11:25.....»»
Peter Schiff: Jerome Powell Is Just Guessing
Peter Schiff: Jerome Powell Is Just Guessing Via SchiffGold.com, Everybody knew that the Federal Reserve wasn’t going to hike rates at the September FOMC meeting. And yet everybody waited with bated breath to hear what Jerome Powell would say. In his podcast, Peter Schiff explained why people hang on Powell’s every word. It’s not because they think he knows what inflation or interest rates will be next year. They realize that Powell is just guessing. So, why do people care what he thinks? Meanwhile, inflation is strong — not the economy. As expected, the Federal Reserve held interest rates steady at the September FOMC meeting and indicated that it only planned to hike one more time. Peter said that in essence, the FOMC is saying that it’s really finished now. Even if you raise rates by another 25 basis points, after going from zero to 525, what difference is one more 25 basis point hike going to do? And if they haven’t done the job now, if five-and-a-quarter isn’t enough to bring inflation back down to 2%, which it’s not, if that’s not enough, then five-and-a-half isn’t going to do the trick.” It’s not as if people will drastically change their behavior if the Fed funds rate is 5.5% instead of 5.25%. It’s too small a difference to be meaningful. So, this really signifies the end of the hiking cycle, at least to the extent that the markets are anticipating.” The massaging coming from the Fed was essentially unchanged. Federal Reserve Chairman Jerome Powell continued to talk tough and emphasize that the central bank is committed to doing whatever it takes to get price inflation back to 2%. Many in the mainstream interpreted the Fed’s messaging as very hawkish. As a Reuters article put it, the Fed “stiffened its hawkish stance.” While the FOMC didn’t raise rates, it did indicate it will continue to shrink its balance sheet. Peter said the balance sheet reduction raises a problem that’s not being addressed. The national debt recently drove over $33 trillion. It took the Biden administration just three months to add another $1 trillion to the debt. And yet the economy is supposedly strong. This ‘unexpectedly strong’ economy is hemorrhaging red ink!” Peter said this reveals the size of the crisis, and yet Powell never addressed the debt or government spending during his press conference. Powell is doing a press conference on inflation, and the main source of inflation is government debt that the Fed monetizes. Yet the topic of the out-of-control debt and all of the monetization doesn’t even come up. How do you even have a press conference to discuss inflation, and you ignore the elephant in the room?” Peter said people don’t listen to Jerome Powell because they think he is some kind of economic guru with insights the rest of us lack. They listen to him because they want to know what he’s going to do. The reason they care about what he says is because they want to figure out how to position their trades. Because it’s not about what’s actually going to happen. It’s about what Powell thinks is going to happen. That’s what people care about. What does the Fed think is going to happen? And then they can decide, well, if the Fed thinks this, what are they likely to do? And Powell actually talks about what he’s likely to do. Now, maybe it’s just a bluff, but it doesn’t really matter to the markets because traders react to what the Fed says and what the Fed claims they’re going to do. So, it’s not because he knows what he’s talking about. It’s just because everybody wants to know what he’s thinking about doing, or what he’s pretending that he’s going to do, because that is important for short-term traders.” Powell doesn’t have a clue what inflation will be next year or how high interest rates will be. He’s just guessing. Peter said his guess is probably worse than a random guess because it’s heavily biased by politics. That’s one of the reasons he keeps talking about how strong the economy is — because it’s Joe Biden’s economy. He’s trying to validate Bidenomics, so his marching orders are ‘talk about how great this economy is.’ That way, Joe Biden, who renominated him, so he’s going to do exactly what that guy wanted, he wants to put a nice bow on this economy and present it as if it’s strong and everything is good so Biden can claim credit for it.” Meanwhile, the Fed can also claim credit as the architect of this great economy, and Powell can claim credit for fighting inflation in a way that hasn’t damaged the economy. Speaking of the economy, Powell insisted that it is much stronger than expected. And because the Fed is surprised by the strength of the economy, there is much more work to be done. We may see more rate hikes, the the Fed may leave interest rates higher for longer. But it’s not because of inflation. It’s because of the strong economy. “Broadly, stronger activity means we have to do more with rates, and that’s what that meeting is telling you,” Powell said during his press conference. Peter said, “He’s not going to admit that the reason rates are going up is because of inflation. It’s inflation that’s strong, not the economy.” Peter goes on in the podcast to break down some of Powell’s specific comments. Tyler Durden Mon, 09/25/2023 - 12:05.....»»
Macron Announces End Of France"s Military Presence In Niger, Pulls Ambassador, As Coup Govt Celebrates
Macron Announces End Of France"s Military Presence In Niger, Pulls Ambassador, As Coup Govt Celebrates.....»»
Watch: Border Patrol Boss Admits Agency Cannot Protect US Because They"re Forced To Process So Many Illegals
Watch: Border Patrol Boss Admits Agency Cannot Protect US Because They"re Forced To Process So Many Illegals.....»»
"Just Allegations": Menendez Refuses To Resign Amid Bribery Scandal
'Just Allegations': Menendez Refuses To Resign Amid Bribery Scandal Update (1247ET): Sen. Bob Menendez (R-NJ) has refused to resign in the face of federal bribery charges. "The allegations leveled against me are just that — allegations," he said at a press conference at a local community college. "I recognize that this will be the biggest fight yet," he continued, adding that once the judicial process is complete, he expects that "not only will I be exonerated, I will still be New Jersey’s senior senator," according to the NY Times. Speaking first in English and then in Spanish, Mr. Menendez, 69, reiterated much of the message he offered immediately after the indictment was announced. He said he was confident the case would be resolved favorably, and he urged patience “to allow all the facts to be presented.” And he said that prosecutors had framed the facts to “be as salacious as possible.” Standing behind the senator, against a wall, were roughly two dozen people he called “everyday people and constituents who know me.” Menendez left without taking questions. Watch: Sen. Menendez: "A cornerstone of the foundation of American democracy and our justice system is the principle that all people are presumed innocent until proven guilty. The court of public opinion is no substitute for our revered justice system. We cannot set aside the resumption… pic.twitter.com/wXZz60rXj1 — Greg Price (@greg_price11) September 25, 2023 * * * Authored by Jonathan Turley, Below is my column in The Hill on the indictment of Senator Robert Menendez for bribery, again. As predicted in this column, his colleagues are now expressing disgust at his corruption. However, make no mistake about it, Menendez is not being abandoned due to his corrupt inclination but his conspicuous consumption. Here is the column: The massive indictment of Sen. Robert Menendez (D-N.J.) and his wife has shaken Washington. As Senate Foreign Relations chairman, Menendez is one of the most powerful Democratic members of Congress, and someone who has long been a kingmaker in the party. He has also long been accused of open and insatiable corruption. What made Menendez a standout in Washington was not his corrupt inclinations, but his utter audacity in following them. I was able to witness that signature conduct personally on the floor of the Senate. In 2010, I defended a federal judge, Thomas Porteous, in his impeachment trial, against charges that he had taken gifts and misused his office for personal gain. The curious thing about Senate trials is that you have a jury composed of people you could strike for cause in a real court. Menendez was among those sitting in judgment of Porteous, but he wasn’t just another face in the Senate crowd — he stood out. It was like arguing a piracy case with Captain Jack Sparrow sitting on the jury. Menendez himself would later go on trial in 2017 in a major bribery and fraud case involving luxury gifts allegedly exchanged for official favors. Most of us expected the worst when, during jury deliberations, one juror asked the court, “What is a senator?” Menendez dodged the bullet. The jury hung and the Justice Department dropped all charges. Now Menendez has been slapped with a massive new bribery indictment. The facts are all too familiar, with a long list of lavish gifts allegedly made in exchange for favors. The indictment details gold bars, hundreds of thousands of dollars, furnishings and other gifts. His wife was allegedly actively involved in this corruption conspiracy and is also facing criminal charges. During the Porteous trial, I noted that, at the time of the underlying acts, the senators themselves were accepting free lunches. It was not until later that the rules changed on such gifts. Menendez now stands accused of accepting a host of gifts at that time, including an $8,000 free flight in October 2010, in addition to luxury trips to Paris and a Caribbean villa. Yet Menendez still demanded conviction for the Porteous, even though the judge was never charged with bribery, and free lunches and the other gifts would not be enough to even register with Menendez. The question is whether this level of corruption is now enough for Democrats. California Gov. Gavin Newsom (D) recently suggested a type of Goldilocks rule for corruption. He warned that people in Washington had better be careful if they want to crack down on the Biden family’s influence-peddling. “If that’s the new criteria, there are a lot of folks in a lot of industries — not just in politics — where people have family members and relationships and they’re trying to parlay and get a little influence and benefit in that respect. That’s hardly unique.” It would appear that the question is not corruption, but when a little corruption is “just right.” If these allegations against Menendez are proven, then he violated Washington’s Goldilocks rule. It would mean that Menendez pursued gifts with a reckless abandon, endangering others whose corruption was more circumspect. Consider the timeline: It would mean that during the Porteous trial, Menendez was allegedly accepting gifts while condemning and removing from office of a judge accused of receiving gifts. Later, after the jury hung in his first corruption trial, Menendez (according to the Justice Department) almost immediately started taking gifts from new sources. In a town known for a certain finesse in influence peddling, Menendez broke with industry custom by allegedly accepting direct items like gold and a car. This is classic bribery stuff. There was no labyrinth of shell companies and accounts — just crude old-school corruption, with cash stuffed in clothing and gold bars squirreled away for a rainy day. Where corrupt figures often refer to getting their beaks wet, Menendez allegedly took a headlong plunge into this pool of corruption. This city has not seen such low-grade alleged bribery since former U.S. Rep. William Jefferson (D-La.) was found with $90,000 wrapped like a po boy in his freezer. Like Jefferson, Menendez will need to be isolated as a pariah for his conspicuous consumption. Yet the public is still being played for chumps. This entire city floats on a sea of corruption as family members and associates sell influence and access to high-ranking officials. Menendez is notorious only for the size of his appetite and the extent of his audacity. Newsom’s Goldilocks rule for graft is certainly compelling for many in this city. For most of us, it is the very source of the problem as politicians seek to get corruption “just right.” So get ready for politicians to suddenly declare themselves “shocked, shocked” by the allegations against Menendez. These are the same people who made Menendez the head of the Foreign Relations Committee, twice. They gave him the power of leverage with countries where bribery is an accepted practice. It was like making a known arsonist the CEO of the International Paper Corporation. In the end, the problem is not Menendez. It is the array of other politicians who enabled him while dismissing his reputation for corruption. To use Newsom’s words, Menendez is “hardly unique” for cashing in on his position. That is precisely the problem. Tyler Durden Mon, 09/25/2023 - 12:47.....»»
Gaetz Says "Few Days" Of Government Shutdown Worth Staving Off "America"s Financial Ruin"
Gaetz Says 'Few Days' Of Government Shutdown Worth Staving Off 'America's Financial Ruin' Barring some sort of miracle from Congress, the government will technically shut down on Saturday at midnight after House Speaker Kevin McCarthy and the House Freedom Caucus failed to arrive at consensus for a 30-day stopgap known as a Continuing Resolution (CR) - despite a promise from McCarthy last week to remove roughly $300 million for Ukraine aid (on which he later reversed course). "It became too difficult to do that, so we’re leaving it in," McCarthy said - signaling virtue over the bill he knew had no chance of passing at this point. Bring it... Rep. Matt Gaetz (R-FL), a key Republican holdout on the CR, says he's ready for a multiday US government shutdown if it means that demands such as conservative border policies are inserted into the eventual package. If the departments of Labor and Education "have to shut down for a few days as we get their appropriations in line, that’s certainly not something that is optimal," Gaetz told Fox News's "Sunday Morning Futures," adding "But I think it’s better than continuing on the current path we are to America’s financial ruin." "I want to fund the government. I'm not pro-shutdown," Gaetz continued. "But the way to fund the government is the same way we've been doing it since the mid-90s where it's one up or down vote on the entire government all at once." The way to fund the government is not by doing it the same way Congress has since the mid-90s, where it's one up or down vote on the entire government all at once. We should have separate single-subject spending bills. @SpeakerMcCarthy promised that in January. He is in breach… pic.twitter.com/iewuoroMqL — Rep. Matt Gaetz (@RepMattGaetz) September 24, 2023 That said, House Republicans are expected to move forward on four appropriations bills this week - though Congress is now set to miss its quickly approaching month-end budget deadline, while Republicans are also considering a different stopgap measure which would fund the US government for between 14 and 60 days. Prior to Gaetz, Rep. Jim Jordan (R-OH) appeared on the show, where he said that in principle "everyone wants to get the 12 appropriation bills done," but "frankly, we’re not going to get it done in the next six days." "So there’s going to have to be some stopgap measure," Jordan continued, adding that Republicans would have to "win something" in passing the CR. Democrats such as House Minority Leader Hakeem Jeffries have repeatedly portrayed Republicans as holding the federal government hostage with a “civil war” of infighting between House factions. President Joe Biden renewed his call for Republicans to “get this done” in a speech at a Congressional Black Caucus event Saturday evening. Conservative hardliners have been a sore spot for House Speaker Kevin McCarthy, who’s caught between appeasing the far right and catering to more moderate members of the House while relying on a single-digit Republican majority. -Bloomberg On Sunday, Morgan Stanley broke down the impacts of a short-term (or longer) shutdown scenario... 1. Government shutdown risk is real: Why? We could write thousands of words on the fiscal negotiating positions of different groups in Congress and their underlying motives, but let’s just leave it at this: The House Republican majority is struggling to reach internal consensus on both the level and makeup of the spending it supports. Further, it appears that whatever consensus it reaches will differ substantially from the bipartisan Senate consensus. And time is running short to bridge that gap. Hence, a shutdown and the resulting political pressure on elected officials from unhappy constituents may be the only path to compromise. 2. By itself, our economists size a shutdown impact on GDP as modest UNLESS it lasts more than a few weeks...an uncommon occurrence: Shutdowns typically last a few days, sometimes a few weeks. We’ve little reason to expect this time to be different. Historically, shutdowns tend to end when the economic risk (and hence the perceived political risk) gets real. Consider the 35-day shutdown under President Trump. The compromise that ended it came quickly after an air traffic stoppage at New York’s LaGuardia Airport, when 10 air traffic controllers who weren’t being paid failed to show up for work. In a similar situation, our economists expect the loss of consumption from deferred government salaries and other spending to reduce GDP by 0.05% for each week of shutdown, with a more muted impact if workers receive back pay when the shutdown ends. BUT...an extended shutdown could amplify the risks: Lacking income for a longer period may change the consumption patterns of the unemployed. What’s more, the longer the shutdown, the greater the risk that government contract payments get deferred (e.g., payments to vendors for doing work like paving roads), upping the economic impact. The Council of Economic Advisers estimates that under those conditions, the GDP downside rises to 0.13% per week. 3. Still...it could create fresh pressure on markets to price in a slower US growth trajectory, limiting a further rise in US treasury yields: Although the shutdown’s economic effect could be modest, its timing may remind investors of other factors our economists have flagged that likely drive a slowdown into 4Q. In particular, the surprisingly large one-time effects of key summer events go away and the student loan repayment moratorium ends, likely directing some household income away from consumption... Bottom line – a US government shutdown alone is unlikely to weaken growth but clearly could remind investors of other more powerful growth headwinds, supporting our broad preference for bonds over equities. Tyler Durden Mon, 09/25/2023 - 13:05.....»»
How The Transition Push Contributed To Higher Oil Prices
How The Transition Push Contributed To Higher Oil Prices Authored by Irina Slav via OilPrice.com, Anti-fossil fuel policies in the U.S. and Europe have led to lower investment in new projects. ExxonMobil CEO Woods: If we don't maintain some level of investment in the industry, you end up running short of supply. Only lowering global energy demand may lead to a situation in which prices will remain under control. Earlier this week, Morgan Stanley said in a note that all signals for crude all were "flashing tightness". The investment bank joined a growing number of forecasters expecting Brent crude to top $100 per barrel before the year's end, again. What all these forecasters have in common is that all of them point out a discrepancy between demand for oil, which has remained strong, and supply, which has become increasingly constrained. At a time when governments in the West are making a huge effort to reduce that demand. And supply, too. For now, they can only claim success in the supply area. And a major contribution to higher prices with that. When President Biden came into office, his first order of business was to effectively ban oil and gas drilling on federal lands. He later revoked his ban as retail fuel prices began climbing and the White House reconsidered its attitude to local supply of hydrocarbons. Not that it helped. Not when the whole energy policy of the administration has been oriented against the oil industry. We see the same situation in Europe, where the push against oil and gas is even stronger, and in other parts of the world, as well. Reuters reported this week, citing Rystad Energy data, that investment in oil and gas on a global scale would only grow moderately this year to $579 billion. That compared to an average annual investment rate of $521 billion for the period between 2015 and 2022, after the 2014 peak, which stood at $887 billion. Also this week, the Energy Information Administration reported that oil production from the U.S. shale patch was set to decline in October from September after the September average was also forecast to be lower than the average for August. In fairness, the EIA has been proven too pessimistic in its forecast by the actual production data, with its forecast production decline for August actually turning out to be a modest monthly increase in production. Yet production did indeed decline this month, albeit still quite modestly. The bigger problem is it did not increase in any meaningful way, contributing to global tightness. Production is not increasing in any meaningful way elsewhere, either, even if we set aside for a moment the Saudi and Russian cut of a combined 1.3 million barrels daily. But demand is still strong, which has led to suggestions from transition campaigners that governments should switch targets and, instead of supply, focus on curbing demand by taxing the use of hydrocarbons. This state of affairs does not bode well for the future energy security of a world that will consume close to 103 million barrels of crude oil every day this year, according to the latest to forecast peak oil demand, the International Energy Agency. The chief executive of Aramco, who has been one of the most vocal critics of the transition push as it is being conducted, recently leveled a new dose of criticism at its planners: "The current transition shortcomings are already causing mass confusion across industries that produce and/or rely on energy. Long-term planners and investors do not know which way to turn," Nasser said at the World Petroleum Congress in Canada. Exxon's CEO was more succinct: "If we don't maintain some level of investment in the industry, you end up running short of supply, which leads to high prices" – a scenario that is currently unfolding in Europe and the United States. The reason there is no sufficient investment, according to the industry, is the uncertainty caused by the transition agenda of the governments where they operate. Indeed, when you have no clarity of the regulations that your government would direct your way as part of its efforts to fight climate change, investment decisions become even harder than usual to make. As the executive chair of Canada'a Cenovus told Reuters, "If you want to add 100,000 barrels a day of production, you're going to spend billions and billions of dollars. In terms of any real meaningful investment in large projects, that's probably going to have to wait for some more clarity on the government front." The situation is even worse for African countries that want to pursue their energy independence by developing their own hydrocarbon resources. Banks and international lenders such as the World Bank and the International Monetary Fund have made it quite clear they would not be lending for oil and gas development. "We are being intimidated into running away from fossil fuel investment," the secretary general of the African Petroleum Producers' Organization, Omar Farouk Ibrahim, said as quoted by Reuters. Yet Big Oil is still big enough to be able to put some money into new production without too much worry about the future. TotalEnergies recently said it could commit $9 billion to exploration in Suriname. Shell is drilling in Namibia and making discoveries that will require fresh investments to develop. Whether these new exploration ventures would be enough to make up for lower production in legacy regions is hard to say. Perhaps, if governments really get down to curbing demand, balance could return to oil markets. For a short while. Because people really don't like to be told how little energy to use. Tyler Durden Mon, 09/25/2023 - 13:25.....»»
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