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Wait Until All These New Homebuyers See Their Property Taxes Go Up Next Year

Wait Until All These New Homebuyers See Their Property Taxes Go Up Next Year To add another chapter to the "our economy is a ponzi scheme bubble that is bound to eventually burst" argument, those who went out and overpaid for property this year may wind up with a hangover in the form up skyrocketing property taxes. We all know that higher real estate prices (hereinafter referred to as "a real estate bubble") are often praised by government and Fed officials as signs of progress for the economy. They're great news for those who already own property and terrible news for those looking to enter the market for the first time. But buyers in 2021 may face even more buyers remorse, on top of overpaying for property: they may soon find out that property taxes are going to increase, an article from The Motley Fool astutely noted this summer.  This once again makes an already-expensive house an additional burden by levying more costs in the form of taxes. Property taxes are determined by the assessed value of a home and multiplying it by your local municipality's tax rate.  Assessments can obviously rise in price as homes do, driving taxes higher.  Homeowners in 2021 are already starting to see these effects, the Fool article writes. An average property tax bill for a single family home went up from $3,561 to $3,719 in 2020, the report noted. Property taxes rose $323 billion, or 5.4%, in 2020, the report notes. It's not unreasonable to assume these taxes will continue to rise at this alarming clip for 2021, as the real estate market continued its "recovery" this year. While homeowners can appeal property tax assessments, the process "isn't easy".  "It's for this reason that homeowners are advised not to max out their budgets when purchasing property," the Fool article hilariously ends by saying. Perhaps someone can inform them that tapping out all lines of credit and maxing out one's budget is the American way...   Tyler Durden Wed, 10/27/2021 - 19:10.....»»

Category: blogSource: zerohedge1 hr. 46 min. ago Related News

Suncor Energy reports third quarter 2021 results

Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company's Libya operations, which are presented on an economic basis. Certain financial measures referred to in this news release (funds from operations, operating earnings (loss) and free funds flow) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.'s interest in Fort Hills and Syncrude. CALGARY, Alberta, Oct. 27, 2021 (GLOBE NEWSWIRE) -- "In the third quarter of 2021, Suncor generated funds from operations of $2.6 billion, underpinned by strong results from the Refining & Marketing business and including the significant planned turnaround at Oil Sands Base," said Mark Little, president and chief executive officer. "Since the start of 2021, we have returned $2.6 billion to our shareholders through share repurchases and dividends and have reduced net debt by $3.1 billion, demonstrating significant progress towards fortifying our balance sheet and meeting our capital allocation targets for the year." Funds from operations increased to $2.641 billion ($1.79 per common share) in the third quarter of 2021, compared to $1.166 billion ($0.76 per common share) in the prior year quarter. Cash flow provided by operating activities, which includes changes in non-cash working capital, was $4.718 billion ($3.19 per common share) in the third quarter of 2021, compared to $1.245 billion ($0.82 per common share) in the prior year quarter. The company recorded operating earnings(1) of $1.043 billion ($0.71 per common share) in the third quarter of 2021, compared to an operating loss of $338 million ($0.22 per common share) in the prior year quarter. The company had net earnings of $877 million ($0.59 per common share) in the third quarter of 2021, compared to a net loss of $12 million ($0.01 per common share) in the prior year quarter. Refining and Marketing (R&M) delivered $947 million in funds from operations in the current period, marking the third highest results for third quarter funds from operations on record. The increase in funds from operations in the third quarter of 2021, compared to $594 million in the prior year quarter, was a result of the improving business environment and strong refinery utilizations of 99%, and was achieved despite Canadian gasoline and diesel demand estimated to be 7%(2) below the comparable period in 2019. R&M funds from operations included a first-in, first-out (FIFO) inventory valuation gain of $84 million after-tax in the third quarter of 2021, compared to $164 million in the prior year quarter. Suncor's total upstream production increased to 698,600 barrels of oil equivalent per day (boe/d) in the third quarter of 2021, compared to 616,200 boe/d in the prior year quarter, due to continued strong performance from the company's In Situ assets and increased production volumes at Syncrude, partially offset by the impact of the significant planned turnaround at Oil Sands Base plant Upgrader 2 and planned maintenance at Firebag, which was completed in the quarter. Suncor successfully assumed the role of operator of the Syncrude asset on September 30, 2021, a critical step towards driving greater integration, efficiencies and competitiveness across all Suncor- operated assets in the region. Suncor and the co-owners of the Terra Nova project finalized an agreement to restructure the project ownership and move forward with the Asset Life Extension (ALE) project, which is expected to extend production life by approximately 10 years. Suncor, together with eight Indigenous communities, announced the formation of Astisiy Limited Partnership (Astisiy), which has signed agreements to acquire a 15% equity interest in the Northern Courier Pipeline. The pipeline, which connects the Fort Hills asset to Suncor's East Tank Farm, will be operated by Suncor and is expected to provide the eight Indigenous communities with reliable income for decades. In the third quarter of 2021, the company returned $1.0 billion to its shareholders through $704 million in share repurchases and payment of $309 million of dividends, and reduced net debt(3) by $2.0 billion. Since the beginning of 2021, Suncor has reduced net debt by $3.1 billion and repurchased $1.7 billion of its common shares since the start of its normal course issuer bid program (NCIB) in February 2021, representing approximately 63 million common shares at an average price of $26.39 per common share, or the equivalent of 4.1% of Suncor's issued and outstanding common shares as at January 31, 2021. The company is on track to exceed its previously communicated debt reduction and share repurchase targets for the year. Subsequent to the third quarter of 2021, the company completed the sale of its 26.69% working interest in the Golden Eagle Area Development for after-tax proceeds of US$250 million net of closing adjustments and other closing costs, and future contingent consideration of up to US$50 million. The effective date of the sale was January 1, 2021. Subsequent to the third quarter of 2021, Suncor's Board of Directors (the Board) approved a quarterly dividend of $0.42 per share, which represents an increase of 100% over the prior quarter dividend, reinstating the dividend to the 2019 level. The Board also approved an increase to the company's share repurchase program to approximately 7% of Suncor's public float as at January 31, 2021 and concurrently, the Toronto Stock Exchange (TSX) accepted a notice to increase the maximum number of common shares the company may repurchase pursuant to its NCIB to 7% of the company's public float. The acceleration of share repurchases, dividend increase and expected net debt reductions, compared to the company's previously announced targets demonstrate the progress made during the year and management's confidence in the company's ability to generate cash flow and its commitment to increased shareholder returns. Financial Results Operating Earnings (Loss) Suncor's operating earnings increased to $1.043 billion ($0.71 per common share) in the third quarter of 2021, from an operating loss of $338 million ($0.22 per common share) in the prior year quarter. The increase in operating earnings was primarily related to higher crude oil and refined product realizations reflecting the improved business environment, higher crude production and refinery crude throughput, and lower depreciation, depletion and amortization (DD&A) and exploration expenses. Operating earnings were partially offset by an increase in operating expenses and royalties associated with Suncor's increased production in the third quarter of 2021. The prior year quarter operating earnings were negatively impacted by the unprecedented decline in transportation fuel demand, partially offset by lower operating costs. Net Earnings (Loss) Suncor's net earnings were $877 million ($0.59 per common share) in the third quarter of 2021, compared to a net loss of $12 million ($0.01 per common share) in the prior year quarter. In addition to the factors impacting operating earnings (loss) discussed above, net earnings for the third quarter of 2021 were impacted by a $257 million unrealized after-tax foreign exchange loss on the revaluation of U.S. dollar denominated debt, a non-cash after-tax impairment reversal of $168 million against the Terra Nova assets, a $60 million after-tax loss for early repayment of long-term debt and a $17 million after-tax unrealized loss on risk management activities. The net loss in the prior year quarter included a $290 million unrealized after-tax foreign exchange gain on the revaluation of U.S. dollar denominated debt and a $36 million after-tax unrealized gain on risk management activities. Funds from Operations and Cash Flow Provided by Operating Activities Funds from operations were $2.641 billion ($1.79 per common share) in the third quarter of 2021, compared to $1.166 billion ($0.76 per common share) in the third quarter of 2020. Funds from operations were influenced by the same factors impacting operating earnings (loss) noted above. Cash flow provided by operating activities, which includes changes in non-cash working capital, was $4.718 billion ($3.19 per common share) for the third quarter of 2021, compared to $1.245 billion ($0.82 per common share) in the prior year quarter. In addition to the factors noted above, cash flow provided by operating activities was further impacted by a greater source of cash associated with the company's working capital balances in the current period compared to the prior year quarter. The source of cash in the third quarter of 2021 was primarily due to an increase in accounts payable and accrued liabilities and the receipt of the company's 2020 federal income tax refund. Operating Results Suncor's total upstream production increased to 698,600 boe/d in the third quarter of 2021, compared to 616,200 boe/d in the prior year quarter, reflecting continued strong performance from the company's In Situ assets and increased production volumes at Syncrude, partially offset by the impact of the significant planned turnaround at Oil Sands Base plant Upgrader 2 and planned maintenance at Firebag, which was completed in the quarter. The company's net synthetic crude oil production was 405,500 barrels per day (bbls/d) in the third quarter of 2021 compared to 410,800 bbls/d in the prior year quarter. In the third quarter of 2021, the company completed its five-year planned turnaround at Oil Sands Base plant Upgrader 2, and subsequent to the quarter the asset ramped up to normal operating rates. Syncrude upgrader utilization was 91% in the third quarter of 2021, compared to 78% in the prior year quarter. The prior year quarter was impacted by planned turnaround maintenance at both Oil Sands operations and Syncrude, and an operational incident at the secondary extraction facilities at Oil Sands Base plant. The company's non-upgraded bitumen production increased to 199,600 bbls/d in the third quarter of 2021 from 108,200 bbls/d in the prior year quarter due to continued strong performance from the company's In Situ assets and the impact of the significant planned turnaround at Oil Sands Base plant Upgrader 2, resulting in less Firebag volumes being processed at the upgrader and therefore increased non-upgraded bitumen being sold to market. The increase in production was partially offset by planned maintenance at Firebag in the third quarter of 2021. Production at Fort Hills increased during the third quarter of 2021, compared to the prior year quarter. During the third quarter of 2021, significant progress on the mine ramp up strategy was achieved and Fort Hills continued to manage overburden removal and build ore inventory according to plan. Fort Hills is expected to transition to a two-train operation and operate at full production rates by the end of the year. Exploration and Production (E&P) produced 93,500 boe/d during the third quarter of 2021, compared to 97,200 boe/d in the prior year quarter. The decrease was primarily due to natural production declines, partially offset by higher production at the Golden Eagle Area Development and liftings in Libya in the third quarter of 2021 compared to no liftings in the prior year quarter. Refinery crude throughput increased to 460,300 bbls/d and refinery utilization was 99% in the third quarter of 2021, compared to refinery crude throughput of 399,700 bbls/d and refinery utilization of 87% in the prior year quarter, reflecting strong utilizations across all refineries comparable to the same periods in 2018 and 2019, despite Canadian gasoline and diesel demand estimated to be 7% below the comparable period in 2019. The prior year quarter reflected reduced rates due to the completion of an eight-week planned turnaround at the Edmonton refinery and lower demand for refined products. Refined product sales in the third quarter of 2021 increased to 551,500 bbls/d, compared to 534,000 bbls/d in the prior year quarter. Strong utilizations during the quarter, increased demand and secured sales channels positioned the company to capture the improved business environment. "We continue to execute on our commitment to operational excellence across our assets. During the third quarter of 2021, Suncor once again outperformed the Canadian refining average, achieving 99% utilization at our refineries, and capturing funds from operations that exceeded the comparable 2019 levels in the downstream business," said Little. "In 2021, we completed the largest annual maintenance program in the company's history, including the completion of the significant turnaround at Oil Sands Base and planned maintenance at Firebag during the quarter, enabling us to return to normal production rates across our asset base in the fourth quarter." The company's total operating, selling and general expenses were $2.768 billion in the third quarter of 2021, compared to $2.235 billion in the prior year quarter. The increase was primarily due to higher crude production and refinery crude throughput, a significant increase in natural gas prices and lower costs in the prior year quarter. The increase was partially offset by cost reductions related to the company's strategic initiatives. Increased production in the quarter resulted in higher absolute costs but lower cash operating costs per barrel at Oil Sands operations and Syncrude. The prior year quarter reflected lower costs related to specific measures taken by the company to reduce operating costs in response to the COVID-19 pandemic. In the first nine months of 2021, the company's total operating, selling and general expenses were $8.388 billion, which included one-time costs associated with restructuring and integration charges. While the company has made progress on its cost reduction initiatives, it currently estimates that fourth quarter operating, selling, and general expenses will be in line with the year-to-date run rate due to the planned increase in upstream production volumes in the fourth quarter and the expected increase in natural gas input prices. The company's exposure to higher natural gas costs is partially mitigated by increased revenue from power sales. Strategy Update Suncor remains focused on operational excellence and its capital allocation strategy; fortifying the balance sheet through debt reductions and increasing the return to its shareholders in the form ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzinga2 hr. 2 min. ago Related News

Champion Iron Reports Robust Results for its FY2022 Second Quarter, Advances the Bloom Lake Phase II Expansion Project and Redeems Remaining Preferred Shares

Quarterly Production of 2.1M wmt, Net Income of $114.6M, EPS of $0.23 and EBITDA of $200.0M MONTRÉAL, Oct. 27, 2021 /CNW/ - Champion Iron Limited (TSX:CIA) (ASX: CIA) (OTCQX:CIAFF) ("Champion" or the "Company") is pleased to announce operational and financial results for the second quarter ended September 30, 2021. Conference Call Details Champion will host a conference call and webcast on October 28, 2021 at 8:30 AM EDT (Montréal Time) / 11:30 PM AEDT (Sydney time) to discuss the results for the second quarter ended September 30, 2021. Call details are outlined at the end of this release. 1. Highlights Health & Safety and Sustainability No serious injuries reported and no major environmental issues during the period; awareness campaigns are in place and continuous improvement efforts are deployed throughout the organization; Fully operational COVID-19 testing laboratory and prevention measures maintained in line with the Government of Québec's (the "Government") directives to mitigate risks related to COVID-19; In line with our Company's values, and out of respect and in recognition of the ancestral landholders' bond with the natural environment, the Company organized workshops aimed at familiarizing its employees with the Innu culture. Additionally, the Company participated and contributed to the commemoration activities that took place in the Uashat mak Mani-utenam community for the inaugural National Day for Truth and Reconciliation on September 30, 2021; Launch of the women's mentoring program dedicated to improve the integration and recruitment of more women into the Company's workforce; and Completion of the Company's 2021 Modern Slavery Statement and its 2020 Sustainability Report, both available on the Company's website at www.championiron.com. Financial Revenues of $331.0M and $876.4M for the three and six-month periods ended September 30, 2021, respectively, compared to $311.0M and $555.6M for the same periods in 2020; EBITDA1 of $200.0M for the three-month period ended September 30, 2021, compared to $199.0M for the same period in 2020. EBITDA1 of $605.8M for the six-month period ended September 30, 2021, compared to $329.1M for the same period in 2020; Net income of $114.6M for the three-month period ended September 30, 2021 (EPS of $0.23), compared to $112.2M for the same period in 2020 (EPS of $0.24). Net income of $338.9M for the six-month period ended September 30, 2021 (EPS of $0.67), compared to $187.7M for the same period in 2020 (EPS of $0.40); Net cash flow from operations of $374.1M for the three-month period ended September 30, 2021, representing an operating cash flow per share1 of $0.74, compared to $131.4M or $0.28 for the same period in 2020. Net cash flow from operations of $361.5M for the six-month period ended September 30, 2021, representing an operating cash flow per share1 of $0.71, compared to $206.7M or $0.44 for the same period in 2020; Full redemption of the remaining $125.0M balance of the total $185.0M of the Company's subsidiary, Quebec Iron Ore Inc. ("QIO"), the Company's subsidiary, preferred shares held by Caisse de dépôt et placement duQuébec which terminated preferred share dividend payments and reduced the overall cost of capital; Drawdown of $20.0M on the loan agreement with Investissement Québec, supported by the Fonds du développement économique ("IQ Loan") to finance the upgrade of Société Ferroviaire et Portuaire de Pointe-Noire's ("SFPPN") existing port and transboarding infrastructures; and Cash on hand1 and restricted cash of $567.5M as at September 30, 2021, compared to $466.7M as at June 30, 2021 and $680.5M as at March 31, 2021. Operations   Production of 2,089,100 wmt of high-grade 66.3% iron ore ("Fe") concentrate for the three-month period ended September 30, 2021, compared to 2,268,800 wmt of high-grade 66.1% Fe concentrate for the same period in 2020. Production of 4,025,100 wmt of high-grade 66.3% Fe concentrate for the six-month period ended September 30, 2021, compared to 4,067,600 wmt of high-grade 66.3% for the same period in 2020; Fe recovery rate of 83.3% and 83.1% for the three and six-month periods ended September 30, 2021, respectively, compared to a Fe recovery rate of 85.2% and 83.8%, respectively, for the same periods in 2020; and Free on Board (''FOB'') total cash cost1 of $56.2/dmt (US$44.6/dmt) (C1) and $58.2/dmt (US$46.8/dmt) for the three and six-month periods ended September 30, 2021, respectively, compared to $48.5/dmt (US$36.4/dmt) and $53.1/dmt (US$39.1/dmt), respectively, for the same periods in 2020. Growth and Development Commencement of a feasibility study, following laboratory work testing, to evaluate the reprocessing and infrastructure required for the commercial production of a 69% Fe Direct Reduction pellet feed product; Advances in work related to the Kamistiatusset iron ore project (the "Kami Project")'s updated feasibility study, which is expected to be completed in the second half of 2022, in connection with the Company's strategy to evaluate its growth alternatives within its property portfolio; Completion of the Lac Lamêlée South property acquisition and the 1.5% net smelter return royalty on the Company's Moiré Lake property and Fermont Properties portfolio, which includes the Consolidated Fire Lake North project; Collaboration with Caterpillar Inc. ("Caterpillar") and Toromont Cat to develop, test and implement advanced drilling technologies aimed at optimizing Bloom Lake's operational productivity and reducing energy consumption; Receipt of a $6.2M government grant during the three-month period ended September 30, 2021, as part of a grant of up to $21.8M, related to the Company's greenhouse gas emissions and energy consumption reduction initiatives; In anticipation of the Phase II growth project completion, the Company amended terms of its marketing agreements to maintain existing relationships and develop new ones with customers globally; and Agreement for a freight contract signed for one vessel per month, from August 2021 to December 2022. The freight contract is expected to reduce the Company's freight premium volatility with a certain agreed-upon price premium above the average C3 Baltic Capesize Index ("C3") per tonne plus a seasonal additional premium for the winter condition. Phase II Expansion Project ("Phase II") Milestones Several critical construction items completed, including the major tie-in between Phase I and Phase II, enabling the Company to evaluate a potential accelerated completion schedule for the project currently expected by mid-2022; Advancing remaining work programs, in challenging times, with more than 400 individuals actively working on the project to maintain or accelerate the expected completion schedule; and Capital expenditures and start-up costs of $110.5M and advance payments to SFPPN totalling $14.1M incurred in the three-month period ended September 30, 2021, with $413.2M invested to date. Champion's CEO, Mr. David Cataford, said: "I commend our team for maintaining a safe work environment and upholding our strong community relations, enabling our Company to deliver another robust operational and financial quarterly result. Our employees and partners continue to demonstrate their agility and motivation as we completed several critical work programs in challenging times for the Phase II expansion project, which is expected to double our nameplate capacity at Bloom Lake. With such significant progress, our team is actively evaluating a potential accelerated completion schedule for the project currently expected by mid-2022. With this growth project and our product development, our Company affirms its strategy to actively participate in reducing emissions in the steel making process. In turn, pursuing capital return strategies and other organic growth opportunities can also be facilitated with our preferred shares now fully redeemed, contributing to lowering our Company's cost of capital." 2. Bloom Lake Phase II Update  The Phase II project aims to double Bloom Lake's nameplate capacity to 15 Mtpa of 66.2% Fe iron ore concentrate by completing the construction of the second plant which was partially built by the mine's former owner. Based on the new optimized mine plan, the Bloom Lake mining rate would also be increased to accelerate the supply of ore to the expanded facilities, while maintaining a life of mine ("LoM") of 20 years. On June 20, 2019, the Company announced the findings of the Bloom Lake Feasibility Study (the "Feasibility Study"), including proven and probable mineral reserve estimates of 807.0 Mt (346.0 Mt of proven reserves and 461.0 Mt of probable reserves) at an average grade of 29.0% Fe. Bloom Lake Phase II reserves are based on the technical report entitled "Bloom Lake Mine – Feasibility Study Phase II", prepared pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and the Joint Ore Reserves Committee Code (2012 edition) by BBA Inc., Soutex and WSP Canada Inc., having an effective date of June 20, 2019 and filed on August 2, 2019. Bloom Lake Phase II mineral reserves include Bloom Lake Phase I mineral reserves as of the effective date of the mineral reserve estimate reported in the Feasibility Study. The Company is not aware of any new information or data that materially affects the information included in the Feasibility Study and confirms that all material assumptions and technical parameters underpinning the estimates in the Feasibility Study continue to apply and have not materially changed. The Feasibility Study is available under the Company's filings at www.sedar.com, on the ASX at www.asx.com.au or the Company's website at www.championiron.com. During the three-month period ended September 30, 2021, $110,532,000 in capital expenditures and start-up costs and $14,104,000 in advance payments were incurred for the Phase II project, with $413,216,000 invested to date, including $69,653,000 in advance payments related to existing port, rail and transboarding infrastructures. As at September 30, 2021, the Company had total cash on hand1 and restricted cash of $567,514,000. The Company maintains a total undrawn credit facility of US$220,000,000, a financing agreement for an undrawn amount of US$75,000,000 in connection with the funding of Phase II mining equipment and a seven-year loan agreement with Fonds de Solidarité des Travailleurs du Québec of $75,000,000, of which $45,000,000 remains undrawn as at September 30, 2021. Additionally, the Company's investment of $85,000,000 related to upgrades at SFPPN and budgeted in the overall Phase II capital expenditures, is partially financed through a term loan of up to $70,000,000, signed on July 21, 2021 with Investissement Québec and supported by Fonds du développement économique. As at September 30, 2021, $50,000,000 of the IQ Loan remained undrawn. The IQ Loan annual interest rate is 3.7%. Accordingly, as at September 30, 2021, the Company had a total $470,860,000 of undrawn available financing. Based on the foregoing and the utilization of ongoing operational cash flows, the Company is fully funded for the remaining Phase II construction project, which is currently scheduled for completion by mid-2022, with an estimated $220,584,000 remaining to be spent, including deposits. Milestones The progression of construction works accelerated significantly in August and reached its peak during the three-month period ended September 30, 2021. With several critical construction work programs completed, including the major tie-in between the Phase I and Phase II projects, the Company is evaluating a potential accelerated completion schedule for the project currently expected by mid-2022. The Company continues to advance remaining work programs, in challenging times, with more than 400 individuals actively working on the project. Project milestones that were achieved and related works undertaken during the three-month period ended September 30, 2021 include: Completion of 97% of the detailed engineering; Steel structure erection in the concentrator, along with equipment installation, progressed as planned; Mechanical installation of the load-out conveyors from the concentrator to the train loading station completed; New overhead line electrical distribution for the mine continued; and Completion and handover of the Mamu accommodations complex, hosting a total capacity of 300 people. 3. Bloom Lake Mine Operating Activities Three Months Ended Six Months Ended September 30, September 30, 2021 2020 Variance 2021 2020 Variance Operating Data Waste mined and hauled (wmt) 5,299,600 4,114,400 29 % 9,999,100 6,727,200 49 % Ore mined and hauled (wmt) 5,713,900 6,070,000 (6) % 11,357,800 10,752,600 6 % Material mined and hauled (wmt) 11,013,500 10,184,400 8 % 21,356,900 17,479,800 22 % Strip ratio 0.93 0.68 37 % 0.88 0.63 40 % Ore milled (wmt) 5,679,800 5,562,600 2 % 10,907,000 10,167,200 7 % Head grade Fe (%) 29.1 30.9 (6) % 29.4 31.1 (5) % Fe recovery (%) 83.3 85.2 (2) % 83.1 83.8 (1) % Product Fe (%) 66.3.....»»

Category: earningsSource: benzinga2 hr. 2 min. ago Related News

Last Week Marked A Huge Milestone For Crypto

After years in the making, it finally happened… Q3 2021 hedge fund letters, conferences and more ProShares Bitcoin Strategy ETF Debuts On October 15, the Securities and Exchange Commission (SEC) approved the first-ever bitcoin ETF. On October 19, the ProShares Bitcoin Strategy ETF (BITO) debuted on the New York Stock Exchange. This is a big, big milestone. […] After years in the making, it finally happened… if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more ProShares Bitcoin Strategy ETF Debuts On October 15, the Securities and Exchange Commission (SEC) approved the first-ever bitcoin ETF. On October 19, the ProShares Bitcoin Strategy ETF (BITO) debuted on the New York Stock Exchange. This is a big, big milestone. In short, this new ETF makes it easier than ever to access bitcoin (BTC)—through the stock market. It’s an opportunity for millions of investors who want exposure to bitcoin without having to open a dedicated crypto account. Owning BITO isn’t quite the same as owning bitcoin directly. But it’s close. And it’s a lot better than the current options… Until now, the closest thing to a bitcoin ETF was the extremely popular Greyscale Bitcoin Trust (GBTC). GBTC only loosely tracked the actual price of bitcoin—and often diverged from it by 20% or more. BITO should track the price of bitcoin much more closely. Now that the SEC has greenlit it as a crypto ETF, GBTC has announced it intends to convert to an ETF as well. This is a great step forward for the growth of the crypto market… I’m glad bitcoin has brought so much attention to cryptos. But make no mistake. Bitcoin is just the tip of the iceberg in this opportunity. What's going on underneath the surface is far more important. And ultimately, it will be more profitable... Investing In The World’s Most Disruptive Young Tech Companies In short: A whole new “stock market” is forming in crypto… Cryptos are a place where everyday investors with as little as $10 can invest in the world’s most disruptive young tech companies. This has never existed before. It’s an exciting new frontier for investors. And it’s the main reason why the popular narrative on cryptos is completely wrong… Most folks think of cryptos as “currencies” that compete with the US dollar. They think people might someday keep their savings accounts in bitcoin, and pay for everyday things with bitcoin. This is the least exciting aspect of cryptos. The cryptos I’m most interested in represent true ownership stakes in real, disruptive, cash-generating businesses. As I explained earlier this month, the technology behind bitcoin and all other cryptos is called “blockchain.” Blockchain has essentially transformed what computers can do. I won’t bore you with the technical details. All you need to know is that today’s newest and most innovative companies are being built on the blockchain. I’m talking real companies… making real money… using the blockchain to disrupt some of today’s most exciting industries. You can invest in these companies by buying crypto “tokens” in them. Which is just like buying shares in a company that trades on the stock market. Think of a token like equity or shares in the business. Cutting-Edge Business Ideas Today, many of the most exciting, cutting-edge business ideas are happening on the blockchain: not in the stock market. When asked about bitcoin late last year, legendary trader Paul Tudor Jones said the crypto was like “investing in a startup tech company.” That’s important because all sorts of rules and barriers typically stop everyday investors from accessing early-stage opportunities. For example, you have to be “accredited” to invest in most private companies. And you often need to invest a minimum of $50,000 or $100,000. So the average guy is locked out. Cryptos knock down those barriers. Unlike the stock market, cryptos aren’t dominated by Wall Street. And you can buy tokens in many crypto startups for $10. Sometimes less. For example, consider the startup called Helium. This company sells hotspot routers you can install on your roof. Their signal reaches about 200X further than a standard Wi-Fi connection. You can then “sell” internet to nearby folks through this Helium router. For doing that, you get rewarded with Helium tokens which you can exchange for real US dollars. Helium’s making real money selling these routers today. But Helium’s not listed on the stock market. You must buy its token, HNT, to participate in its rapid growth. Helium’s token has appreciated over 2,500% in the last year. A question I often get is: “Can I buy Coinbase (COIN) stock to profit off the growth of crypto?” Coinbase is the largest crypto brokerage in the US. It’s opening up this “new world” of cryptos to millions of people… in an easy-to-use app. The short answer is “yes”—owning Coinbase is an easy way to profit off the growth of crypto. But you should know what you’re buying in Coinbase. You ARE buying a very large company that should do well as crypto continues to grow. You’re NOT buying an early-stage crypto project that could return 100–1. You have to buy the specific early-stage tokens for that. The Great Disruptors: 3 Breakthrough Stocks Set to Double Your Money" Get my latest report where I reveal my three favorite stocks that will hand you 100% gains as they disrupt whole industries. Get your free copy here. Article By Stephen McBride, Editor - Disruption Investor Updated on Oct 27, 2021, 4:41 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk3 hr. 30 min. ago Related News

The Difference Between Facebook And Its Stock

Whitney Tilson’s email to investors discussing Facebook, Inc. (NASDAQ:FB)’s earnings; the difference between a company and its stock; what are the odds that Build Back Better passes and at what scale? Q3 2021 hedge fund letters, conferences and more Facebook’s Earnings 1) Facebook (FB) reported earnings after the close yesterday… By any objective metric, it […] Whitney Tilson’s email to investors discussing Facebook, Inc. (NASDAQ:FB)’s earnings; the difference between a company and its stock; what are the odds that Build Back Better passes and at what scale? if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Facebook's Earnings 1) Facebook (FB) reported earnings after the close yesterday... By any objective metric, it was a very impressive quarter: Daily and monthly active users rose 6%, revenue jumped 35%, operating margin was an amazing 36%, and operating income grew 30%. Such numbers are almost unheard of for a company of this size, which is why I continue to believe that Facebook and Alphabet Inc (NASDAQ:GOOGL) are the two greatest businesses of all time. The Difference Between A Company And Its Stock 2) In light of my many e-mails criticizing Facebook in recent weeks, some readers might think that I was bearish on the stock – but that would be incorrect. It's possible to be very critical of a company but still think it's a great business and that the stock is undervalued – which is exactly what my colleagues Berna Barshay, Enrique Abeyta, and I say about Facebook. Specifically, in my October 8 e-mail, I included this excerpt from Berna's Empire Financial Daily: With superior growth and phenomenal margins versus other stocks in the market, it's hard for me to imagine Facebook not trading at a premium multiple to the S&P 500 Index, which is currently priced at about 20 times 2022 earnings. I think Facebook deserves a price-to-earnings (P/E) ratio of at least 25, maybe even 30. I don't think the "E" ["environmental" in environmental, social, and governance investing] is at risk based on yesterday's testimony... so at 25 times $16, you have FB shares at $400 – up roughly 20% from the current quote. And at 30 times, you get FB shares at $480... That's up nearly 45% from here. That upside justifies holding your nose and buying FB shares. They are a great risk-reward here. I added this about Enrique's view: Enrique thinks it's a good trading opportunity and recommended it in his Empire Elite Trader service, which you can subscribe to here – it's only $69 per month, and you can try it risk-free for 30 days. And, finally, I concluded with my own opinion: I'm happy to continue having Facebook's stock as a core holding in our flagship newsletters, Empire Stock Investor and Empire Investment Report... Enrique and Berna are a lot smarter than I am... so listen to them! In summary, to be a successful investor, it's critical to set your emotions aside and distinguish between companies and their stocks. What Are The Odds That Build Back Better Passes And At What Scale? 3) Here's another example of how important it is to set your emotions aside when making investment decisions. The Biden administration has proposed a $3.5 trillion reconciliation bill called The Build Back Better Agenda. Not surprisingly, in these polarized times, it's highly controversial. With every Republican vowing to oppose it, it means that Democrats can't afford to lose a single vote in the U.S. Senate. If this bill passes, there will likely be meaningful implications for the stock market overall – perhaps a short-term boost due to even more fiscal stimulus, but also possibly a long-term negative impact because of higher taxes and debt levels. And the legislation will undoubtedly affect certain sectors, such as pharmaceuticals and energy. Many investors would like to know how likely the bill is to pass and, if so, at what scale? Many folks would have trouble accurately answering these questions because their political beliefs would interfere (i.e., Democrats would guess high; Republicans would guess low). To help me think about this, I turned to a New Zealand-based prediction and betting site, PredictIt, which allows people to bet real money (up to $850 per bet) on political and economic outcomes. Here's what the market currently looks like for The Build Back Better Agenda (you can check the latest numbers here): According to the rules of this market, there's about a 21% chance that Democrats fail to pass the bill or that it's smaller than $1.5 trillion... So, this market is saying that there is roughly a 79% chance that Sen. Joe Manchin of West Virginia and Sen. Kyrsten Sinema of Arizona will end up voting with their Democratic colleagues, and The Build Back Better Agenda passes. But it's likely to be in the $1.5 to $2 trillion range, roughly half what the Biden administration proposed. Those odds sound about right to me – which is one of the reasons why I remain constructive on the market in the near term. The 2021 Stansberry Conference & Alliance Meeting 4) Speaking of which, this was the first slide I presented yesterday at the 2021 Stansberry Conference & Alliance Meeting in Las Vegas: Overall, We Remain Constructive The market is near an all-time high despite many warning flags: inflation, supply chain disruptions, silly bubbles in certain meme stocks like GameStop (GME), AMC Entertainment (AMC), and Digital World Acquisition (DWAC), political polarization, chaos in Washington, etc. We still think this market has room to run, however, because its drivers are still intact: the mother of all economic booms, low interest rates, unprecedented monetary and fiscal stimulus, and plenty of "animal spirits" among investors. The biggest lesson I wish I'd known over the past two decades: When you're in a bull market, you have to ride it until it's crystal clear that a major shock is underway. In other words: Don't batten down the hatches when it's sunny because there might be a storm someday; instead, wait until the skies are dark and the lightning is crackling. 5) I then went on to present my thesis that the future of education is digital. It's a sector that's close to my heart. My parents are both teachers who met and married in the Peace Corps. My first job out of college was helping start Teach for America. I co-founded a political advocacy group that pushes for education reform, and I've been on the board of KIPP charter schools in New York City for the past two decades. So I know what I'm talking about when I say that the American education system is broken – as evidenced by the $1.7 trillion in outstanding student loans held by around 45 million Americans (the average student debt is around $38,000). What's more, student debt will likely surpass $2 trillion in the next year as tuition hikes continue to outpace inflation... up from already stratospheric levels of $27,000 per year at public institutions and $55,000 annually at private institutions. To address these out-of-control costs, I recommended three stocks that I believe are best-positioned to benefit – all of which are recent recommendations in Empire Investment Report (you can learn more and subscribe to it here). I can't reveal the names, as those are for our subscribers, but here's an overview... Textbooks are a small portion of the massive cost of higher education... but it's showing the way to how education can be digitized. And one college textbook company is at the forefront of digital distribution, which is a lot cheaper – for everyone – than buying bulky textbooks at the college bookstore. The stock I discussed generates margins in its digital distribution business that are twice that of its old-school way of selling textbooks. Best of all, the company is only in the early stages of rolling out its model. Last year, the company's digital distribution was just a dozen schools covering 43,000 students... but this year, it's twice as many schools, serving seven times as many students. Even now, it's accessing just 5% of the more than six million college students that represent the company's total potential customer base. I think the stock is "incredibly cheap" from a valuation perspective... and think that it "definitely has multibagger potential." The second company I pitched is one of the leaders in online learning. Its platform is used by more than 150 colleges and universities, which offer video lectures, course certificates, and, increasingly, degrees. But the biggest growth area, where revenue jumped 69% last quarter, is the enterprise segment, selling to businesses, which are using this platform to train their current and future employees. Online learning is now enabling anyone, anywhere in the world, to access an education that can lead to a wide range of jobs. I think the stock could more than double in the next two years. Lastly, I talked about a textbook rental company that's developed a "Netflix-like (NFLX) subscription model," helping students understand the content in the textbooks. Over the past five years, the company has beaten Wall Street analysts' revenue expectations every single quarter. I expect it to continue, leading to a 72% share price gain in the next two years. Best regards, Whitney Tilson Updated on Oct 27, 2021, 5:00 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk3 hr. 30 min. ago Related News

A Global Oil Shortage Is Inevitable

A Global Oil Shortage Is Inevitable Authored by Tsvetana Paraskova via OilPrice.com, While oil and gas companies come under pressure to reduce production, the world’s thirst for new supply is only growing  Without a significant uptick in investment, demand for oil and gas will surpass supply in the not-so-distant future This disconnect between the political desire for less fossil fuels and the global hunger for fossil fuels could drive the price of oil up to $100 Chronic underinvestment in new oil supply since the 2015 crisis and the pressure on oil and gas companies to curb emissions and even “keep it in the ground” will likely lead to peak global oil production earlier than previously expected, analysts say.  This would be a welcome development for green energy advocates, net-zero agendas, and the planet if it weren’t for one simple fact: oil demand is rebounding from the pandemic-driven slump and will set a new average annual record as soon as next year.   The energy transition and the various government plans for net-zero emissions have prompted analysts to forecast that peak oil demand would occur earlier than expected just a few years ago. However, as current investment trends in oil and gas stand, global oil supply could peak sooner than global oil demand, opening a supply gap that would lead to increased volatility on the oil market, with spikes in prices, and, potentially, structurally higher oil prices by the middle of this decade and beyond.  Supply Could Peak Before Demand “On current trends, global oil supply is likely to peak even earlier than demand,” Morgan Stanley’s research department wrote in a note this week carried by Reuters.   “The planet puts boundaries on the amount of carbon that can safely be emitted. Therefore, oil consumption needs to peak,” analysts at Morgan Stanley said. The problem with the world is that oil consumption - wishful thinking, investor pressure, and all - is not peaking. Nor will it peak until the end of this decade at the earliest, according to most estimates.  OPEC expects global oil demand to continue to grow into the mid-2030s to 108 million barrels per day (bpd), after which it is set to plateau until 2045, as per the cartel’s latest annual outlook.  Some other analysts expect peak demand at some point in the late 2020s.  Investment in new supply, however, is severely lagging global oil demand growth. Demand is growing again after the 2020 COVID crisis and, contrary to some expectations from early 2020 that the world’s oil consumption would never return to pre-pandemic levels, demand is currently just a few months away from hitting and exceeding those levels.  Supply Gap Is Looming In Just A Few Years Supply, on the other hand, looks constrained beyond the OPEC+ deal horizon.  New investment last year slumped to a decade-and-a-half low. Last year, global upstream investment sank to a 15-year low of $350 billion, according to estimates by Wood Mackenzie from earlier this year.  Investment is not expected to materially pick up this year, either, despite $80 oil. That’s because supermajors stick to capital discipline and pledge net-zero emission targets, part of which some of them plan to reach by curbing investment and developments in non-core little-profitable new oil projects.  U.S. shale, for its part, is not rushing this time to “drill themselves into oblivion,” as Harold Hamm said in 2017, as American producers look to finally reward shareholders after years of plowing cash flows into drilling and chasing production growth.  Considering that oil demand will still grow, at least for a few more years, underinvestment in new supply would be a major problem in the medium and long term.  Despite the energy transition, demand will not just vanish, and new supply will be needed for years to come to replace declining production and reserves.  The oil industry will need massive investments over the next 25 years in order to meet demand, according to OPEC. The industry will need cumulative long-term upstream, midstream, and downstream oil-related investments of $11.8 trillion by 2045, OPEC says. Patrick Pouyanné, chief executive at France’s TotalEnergies, said at the Energy Intelligence Forum this month that oil prices would “rocket to the roof” by 2030 if the industry were to stop investments in new supply, as some scenarios for net-zero by 2050 suggest. “If we stop investing in 2020, we leave all these resources in the ground ... and then the price will rocket to the roof. And even in developed countries, it will be a big issue,” Pouyanné said.  $100 Oil Is No Longer An Outrageous Prediction  A triple-digit oil price is no longer an outrageous prediction as it would have been in early 2020.   Francisco Blanch, global head of commodities and derivatives research at Bank of America, expects oil to hit $100 by September 2022, or even earlier if this winter is much colder than expected.  Demand is coming back, while we have seen severe underinvestment in supply the last 18 months, Blanch told Bloomberg at the end of September.    “The underinvestment problem cannot be solved easily, and at the same time we have surging demand,” he said.  “We are moving into a straightjacket for energy, we don’t want to use coal, we want to use less and less gas, we want to move away from oil,” Blanch told Bloomberg.  While oil is unlikely to sit at triple digits for a sustained period of time, underinvestment has become “a multi-year problem” for the industry, Blanch noted.  Even if oil doesn’t stay at $100 a barrel, a supply crunch down the road would nevertheless move the floor under oil prices higher and lead to unsustainable price spikes. As much as climate activists want a stop to investment in new supply, the industry and the world cannot afford it because oil demand continues to grow.   Tyler Durden Wed, 10/27/2021 - 16:50.....»»

Category: blogSource: zerohedge4 hr. 2 min. ago Related News

Why CBRE Group (CBRE) is a Top Stock for the Long-Term

The Zacks Focus List offers investors a way to easily find top-rated stocks and build a winning investment portfolio. Here's why you should take advantage. Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.One of our most popular services, Zacks Premium offers daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter. All are useful tools to find what stocks to buy, what to sell, and what are today's hottest industries.The service also includes the Focus List, which is a long-term portfolio of top stocks that boast a winning, market-beating combination of growth and momentum qualities.Breaking Down the Zacks Focus ListIf you could get access to a curated list of stocks to kickstart your investment portfolio, wouldn't you jump at the chance to take a peek?That's what the Zacks Focus List offers. It's a portfolio of 50 stocks that serve as a starting point for long-term investors to build their individual portfolios. The stocks included in the list are set to outperform the market over the next 12 months.Additionally, each selection is accompanied by a full Zacks Analyst Report, something that makes the Focus List even more valuable. The report explains in detail why each stock was picked and why we believe it's good for the long-term.The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.Earnings estimates are expectations of growth and profitability, and are determined by brokerage analysts. Together with company management, these analysts examine every aspect that may affect future earnings, like interest rates, the economy, and sector and industry optimism.What a company will earn down the road also needs to be taken into consideration, and this is why earnings estimate revisions are so important.The stocks that receive positive changes to earnings estimates are more likely to receive even more upward changes in the future. Take this example: if an analyst raised their estimates last month, they'll probably do so again this month, and other analysts will follow.Utilizing the power of earnings estimate revisions is when the Zacks Rank joins the party. A unique, proprietary stock-rating model, the Zacks Rank uses changes to quarterly earnings expectations to help investors create a winning portfolio.There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each one of these features is then given a raw score that's recalculated every night and compiled into the Rank. Using this data, stocks are classified into five groups, ranging from "Strong Buy" to "Strong Sell."The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks offer investors a great opportunity to get into companies whose future earnings estimates will be raised, potentially leading to price momentum.Focus List Spotlight: CBRE Group (CBRE)Headquartered in Dallas, TX, CBRE Group, Inc. is a commercial real estate services and investment firm, offering a wide range of services to tenants, owners, lenders and investors in office, retail, industrial, multi-family and other types of commercial real estates in all major metropolitan areas across the globe. The services include facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. With more than 100,000 employees the company serves clients in more than 100 countries.Since being added to the Focus List on March 13, 2017 at $36.40 per share, shares of CBRE have increased 187.34% to $104.21. The stock is currently a #2 (Buy) on the Zacks Rank.One analysts revised their earnings estimate upwards in the last 60 days for fiscal 2021. The Zacks Consensus Estimate has increased $0.03 to $4.93. CBRE boasts an average earnings surprise of 53.5%.Additionally, CBRE's earnings are expected to grow 50.8% for the current fiscal year.Reveal Winning StocksUnlock all of our powerful research, tools and analysis, including the Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. You'll quickly identify which stocks to buy, hold and sell, and target today's hottest industries, to help improve the performance of your portfolio. Gain full access now >> Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CBRE Group, Inc. (CBRE): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks4 hr. 14 min. ago Related News

Why Huntington Ingalls (HII) is a Top Stock for the Long-Term

Finding strong, market-beating stocks with a positive earnings outlook becomes easier with the Focus List, a top feature of the Zacks Premium portfolio service. Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.One of our most popular services, Zacks Premium offers daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter. All are useful tools to find what stocks to buy, what to sell, and what are today's hottest industries.The service also includes the Focus List, which is a long-term portfolio of top stocks that boast a winning, market-beating combination of growth and momentum qualities.Breaking Down the Zacks Focus ListBuilding an investment portfolio from scratch can be difficult, so if you could, wouldn't you take a peek at a curated list of top stocks?That's what the Zacks Focus List offers. It's a portfolio of 50 stocks that serve as a starting point for long-term investors to build their individual portfolios. The stocks included in the list are set to outperform the market over the next 12 months.Additionally, each selection is accompanied by a full Zacks Analyst Report, something that makes the Focus List even more valuable. The report explains in detail why each stock was picked and why we believe it's good for the long-term.The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.Brokerage analysts are in charge of determining a company's growth and profitability expectations, or earnings estimates. These analysts work together with company management to evaluate all factors that may affect future earnings, like interest rates, the economy, and sector and industry optimism.Earnings estimate revisions are very important, since investors also need to take into consideration what a company will earn in the future.When a stock receives upward earnings estimate revisions, it will likely get even more positive changes in the future. For instance, if an analyst raised their earnings outlook last month, they'll probably do so again this month, and other analysts will follow.Harnessing the power of earnings estimate revisions is where the Zacks Rank comes in. The Zacks Rank, which is a unique, proprietary stock-rating model, employs earnings estimate revisions to make it easier to build a winning portfolio.There are four main factors behind the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each one of these features is then given a raw score that's recalculated every night and compiled into the Rank. Using this data, stocks are classified into five groups, ranging from "Strong Buy" to "Strong Sell."The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.Since stock prices respond to revisions, it can be very profitable to buy stocks with rising earnings estimates. By buying Focus List stocks, then, you're likely getting into companies whose future earnings estimates will be raised, potentially leading to price momentum.Focus List Spotlight: Huntington Ingalls (HII)Based in Newport News, VA, Huntington Ingalls Industries designs, builds and maintains nuclear-powered ships such as aircraft carriers and submarines, and non-nuclear ships, such as surface combatants, expeditionary warfare/amphibious assault and coastal defense surface ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe.On May 9, 2016, HII was added to the Focus List at $155.20 per share. Shares have increased 31.66% to $205.11 since then, and the company is a #2 (Buy) on the Zacks Rank.One analysts revised their earnings estimate upwards in the last 60 days for fiscal 2021. The Zacks Consensus Estimate has increased $0.24 to $13.56. HII boasts an average earnings surprise of 25.5%.Additionally, HII's earnings are expected to grow 35.6% for the current fiscal year.Reveal Winning StocksUnlock all of our powerful research, tools and analysis, including the Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. You'll quickly identify which stocks to buy, hold and sell, and target today's hottest industries, to help improve the performance of your portfolio. Gain full access now >> Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Huntington Ingalls Industries, Inc. (HII): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks4 hr. 14 min. ago Related News

TE Connectivity (TEL) Q4 Earnings & Sales Beat, Rise Y/Y

TE Connectivity's (TEL) fiscal fourth-quarter results reflect benefits from solid momentum across transportation, communications and industrial solutions. TE Connectivity Ltd. TEL has reported fourth-quarter fiscal 2021 adjusted earnings of $1.69 per share, which surpassed the Zacks Consensus Estimate by 2.4%. The figure rose 46% year over year.Net sales in the reported quarter were $3.818 billion, which beat the consensus mark of $3.811 billion. The figure rose 17% from the year-ago quarter.Top-line growth was driven by well-performing transportation, communications and industrial solutions of the company.However, TE Connectivity witnessed the pandemic-induced supply-chain constraints, which were acting as headwinds.Nevertheless, the company’s strong momentum across hybrid and electric vehicles, data and devices, factory automation, and cloud remains a major positive.TE Connectivity Ltd. Price, Consensus and EPS Surprise TE Connectivity Ltd. price-consensus-eps-surprise-chart | TE Connectivity Ltd. QuoteTop-Line DetailsTransportation Solutions: The segment generated $2.2 billion, which accounted for 57.6% of net sales. The figure rose 18% year over year. This can be attributed to the growing proliferation of electric vehicles and strong content trends of electronification, which led to a 14% year-over-year rise in the company’s automotive sales. Commercial transportation sales grew 40% year over year. Sensor sales grew 16% from the year-ago quarter on the back of solid momentum across transportation applications.Industrial Solutions: The segment generated $1.02 billion, which accounted for 26.6% of net sales. The figure rose 6% year over year. This was driven by robust industrial equipment sales, which grew 33% from the prior-year quarter, owing to the growing capital investment in factory automation applications. Solid momentum across renewable applications led to 3% growth in energy sales. Recovery in interventional procedures led to 5% year-over-year growth in the medical category.However, weakness in the commercial aerospace market remained a headwind.Communications Solutions: The segment generated $603 million, which accounted for 15.8% of net sales. Further, the figure rose 38% year over year. This was driven by solid content growth from cloud applications, which led to a year-over-year rise of 37% in data and devices sales. Appliance sales grew 39% from the prior-year quarter, which contributed well.Operating DetailsPer management, the gross profit was $1.3 billion, which was up 30.3% year over year. As a percentage of revenues, the figure expanded 340 basis points (bps) from the year-ago quarter to 33.1%.We note that selling, general and administrative expenses, and research and development expenses of $384 million and $173 million rose 9.1% and 16.9% year over year, respectively.The company’s adjusted operating margin was 18.5% in the reported quarter, which expanded 400 bps year over year.Balance Sheet & Cash FlowAs of Sep 24, 2021, cash and cash equivalents were $1.2 billion, down from $1.4 billion as of Jun 25, 2021.Long-term debt was $3.59 billion in the fiscal fourth quarter, down from $3.63 billion in the prior quarter.The company generated $774 million of cash from operations in the reported quarter compared with $682 million in the previous quarter.Further, it generated a free cash flow of $536 million.GuidanceFor first-quarter fiscal 2022, TE Connectivity expects net sales growth of 5% and 4% year over year on a reported basis and an organic basis, respectively, to $3.7 billion. The Zacks Consensus Estimate for the same is pegged at $3.8 billion.    Adjusted earnings are projected to be $1.60 per share, reflecting growth of 9% from the year-ago quarter. The consensus mark is pegged at $1.64 per share.Zacks Rank and Stocks to ConsiderCurrently, TE Connectivity carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader technology sector are Lam Research LRCX, Coupa Software, Inc. COUP and Trimble Inc. TRMB. All three companies currently carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.    The long-term earnings growth rates of Lam Research, Coupa Software and Trimble are pegged at 17.01%, 24.28% and 10%, respectively. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lam Research Corporation (LRCX): Free Stock Analysis Report Trimble Inc. (TRMB): Free Stock Analysis Report TE Connectivity Ltd. (TEL): Free Stock Analysis Report Coupa Software, Inc. (COUP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks4 hr. 14 min. ago Related News

CSW Industrials (CSWI) Reports Next Week: Wall Street Expects Earnings Growth

CSW Industrials (CSWI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations. The market expects CSW Industrials (CSWI) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2021. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 3. On the other hand, if they miss, the stock may move lower.While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.Zacks Consensus EstimateThis industrial products and coatings maker is expected to post quarterly earnings of $1.48 per share in its upcoming report, which represents a year-over-year change of +34.6%.Revenues are expected to be $162.88 million, up 55.2% from the year-ago quarter.Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.Price, Consensus and EPS SurpriseEarnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).How Have the Numbers Shaped Up for CSW Industrials?For CSW Industrials, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.On the other hand, the stock currently carries a Zacks Rank of #3.So, this combination makes it difficult to conclusively predict that CSW Industrials will beat the consensus EPS estimate.Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.For the last reported quarter, it was expected that CSW Industrials would post earnings of $1.16 per share when it actually produced earnings of $1.46, delivering a surprise of +25.86%.Over the last four quarters, the company has beaten consensus EPS estimates two times.Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.CSW Industrials doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CSW Industrials, Inc. (CSWI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks4 hr. 14 min. ago Related News

Now (DNOW) Earnings Expected to Grow: What to Know Ahead of Next Week"s Release

Now (DNOW) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations. The market expects Now (DNOW) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2021. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 3. On the other hand, if they miss, the stock may move lower.While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.Zacks Consensus EstimateThis energy and industrial distribution company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +112.5%.Revenues are expected to be $420.6 million, up 29% from the year-ago quarter.Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 150% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.Price, Consensus and EPS SurpriseEarnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).How Have the Numbers Shaped Up for Now?For Now, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -166.67%.On the other hand, the stock currently carries a Zacks Rank of #3.So, this combination makes it difficult to conclusively predict that Now will beat the consensus EPS estimate.Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.For the last reported quarter, it was expected that Now would post a loss of $0.01 per share when it actually produced break-even earnings, delivering a surprise of +100%.Over the last four quarters, the company has beaten consensus EPS estimates three times.Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.Now doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NOW Inc. (DNOW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks4 hr. 14 min. ago Related News

Inland Empire logistics portfolio sells for $270 million

The transaction marks the single largest acquisition to date of industrial buildings in the Inland Empire North submarket......»»

Category: topSource: bizjournals4 hr. 30 min. ago Related News

TrueCar Forecasts a Continued Decline in Industry Sales for October 2021 Amid Vehicle Shortages

SANTA MONICA, Calif., Oct. 27, 2021 /PRNewswire/ -- TrueCar, Inc. (NASDAQ:TRUE), the most efficient and transparent online destination to find a car, forecasts total new vehicle sales will reach 1,054,312 units in October 2021, down 20% from a year ago and down 3% vs. September 2021, when adjusted for the same number of selling days. This month's seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 13 million, down 20% from October 2020. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 945,027 units, down 20% from a year ago and down 3% from September 2021. "After eight months of consistent declines we are finally starting to see signs of a slight improvement in new vehicle inventory," said Nick Woolard, Lead Industry Analyst at TrueCar. "Overall inventory remains tight and with demand holding strong we are set to see another month of record new vehicle transaction prices." "While overall average incentive spend is expected to continue to decline, the decline is not uniform across vehicle segments," said Valeri Tompkins, Senior Vice President of OEM Solutions at TrueCar. "Full-size pickup trucks are actually seeing a notable increase in finance offers which has helped drive that segment to almost 25% of new vehicle sales, a dramatic increase from 15% back in May." Additional Insights (forecast by TrueCar): Total sales for October 2021 are expected to be down 20% from a year ago and down 3% from September 2021 when adjusted for the same number of selling days. Fleet sales for October 2021 are expected to be down 14% from a year ago and down 5% from September 2021 when adjusted for the same number of selling days. Incentive spend is down 39% from last year. Average transaction price is projected to be up 8% from a year ago and up 1% from September 2021. Total SAAR is expected to be down 20% from a year ago at 13 million units. Used vehicle sales for October 2021 are expected to reach 3.5 million, up 5% from a year ago and down 2% from September 2021. The average interest rate on new vehicles is 4.3% and the average interest rate on used vehicles is 7.3%. The average loan term on a new vehicle for October 2021 is 70 months and likewise the average loan term on a used vehicle is also 70 months.   Total Unit Sales Manufacturer Oct 2021 Forecast Oct 2020 Actual Sep 2021 Actual YoY % Change YoY % Change (Daily Selling Rate) MoM % Change MoM % Change(Daily Selling Rate) BMW 27,666 31,040 26,031 -10.9% -7.6% 6.3% -1.6% Daimler 19,676 29,082 18,419 -32.3% -29.8% 6.8% -1.1% Ford 165,523 181,820 155,384 -9.0% -5.6% 6.5% -1.4% GM 144,921 259,493 111,046 -44.2% -42.1% 30.5% 20.8% Honda 97,565 126,987 95,716 -23.2% -20.3% 1.9% -5.6% Hyundai 69,669 58,449 58,667 19.2% 23.6% 18.8% 10.0% Kia 52,514 56,094 52,906 -6.4% -2.9% -0.7% -8.1% Nissan 54,511 71,679 51,182 -24.0% -21.1% 6.5% -1.4% Stellantis 131,570 159,147 130,926 -17.3% -14.3% 0.5% -7.0% Subaru 35,236 61,411 42,054 -42.6% -40.5% -16.2% -22.4% Tesla 28,394 19,600 26,291 44.9% 50.2% 8.0% 0.0% Toyota 136,547 203,936 151,378 -33.0% -30.6% -9.8% -16.5% Volkswagen Group 45,627 51,607 38,821 -11.6% -8.3% 17.5% 8.8% Industry 1,054,312 1,361,858 1,006,931 -22.6% -19.7% 4.7% -3.1%   Retail Unit Sales Manufacturer Oct 2021 Forecast Oct 2020 Actual Sep 2021 Actual YoY % Change YoY % Change (Daily Selling Rate) MoM % Change MoM % Change(Daily Selling Rate) BMW 27,101 30,527 25,563 -11.2% -7.9% 6.0% -1.8% Daimler 18,630 28,152 18,042 -33.8% -31.4% 3.3% -4.4% Ford 130,808 145,598 126,366 -10.2% -6.8% 3.5% -4.2% GM 131,311 221,495 96,906 -40.7% -38.5% 35.5% 25.5% Honda 96,538 126,385 95,314 -23.6% -20.8% 1.3% -6.2% Hyundai 65,719 50,603 54,276 29.9% 34.7% 21.1% 12.1% Kia 47,284 51,078 50,938 -7.4% -4.0% -7.2% -14.0% Nissan 49,584 67,585 42,214 -26.6% -23.9% 17.5% 8.8% Stellantis 109,296 134,124 110,891 -18.5% -15.5% -1.4% -8.7% Subaru 35,031 60,582 40,486 -42.2% -40.0% -13.5% -19.9% Tesla 28,229 19,600 26,282 44.0%.....»»

Category: earningsSource: benzinga5 hr. 2 min. ago Related News

Hawthorn Bancshares Reports Results for Three and Nine Months Ended September 30, 2021

Third Quarter 2021 Results Net income of $5.8 million, or $0.88 per diluted share Net interest margin, fully taxable equivalent ("FTE") of 3.78% Return on average assets and equity of 1.33% and 16.49%, respectively Loans decreased $11 million, or 0.9%, compared to the linked quarter Deposits increased $30 million, or 2.2%, compared to the linked quarter JEFFERSON CITY, Mo., Oct. 27, 2021 (GLOBE NEWSWIRE) -- Hawthorn Bancshares Inc. (NASDAQ:HWBK), (the "Company" or "HWBK") reported net income of $5.8 million for the third quarter 2021, an increase of $0.9 million compared to the linked second quarter 2021 ("linked quarter") and an increase of $0.8 million from the third quarter 2020 (the "prior year quarter"). Earnings per diluted share ("EPS") was $0.88 for the third quarter 2021 compared to $0.74 for both the linked quarter and prior year quarter. Net income and EPS for the third quarter 2021 increased from the linked quarter primarily due to higher net interest income driven by higher Small Business Payroll Protection Program ("PPP") loan fee income, partially offset by a decrease in gain on sale of real estate mortgages, described in more detail below. Chairman David T. Turner commented, "Hawthorn Bank continues to be well-positioned during this economic recovery, and once again delivered strong financial performance in the third quarter. Contributing to this strong overall financial performance was the acceleration of PPP loan fee income as a result of our borrowers electing to pursue loan forgiveness in accordance with the CARES Act. This acceleration, while contributing almost $1.6 million in higher earnings as compared to the linked quarter, did result in the forgiveness of $24 million in loans during the quarter. Excluding the impact of PPP loans on our portfolio, we achieved $12.6 million or 1.0% loan growth in the third quarter as compared to the linked quarter. At the end of the quarter, we had $1.8 million in PPP loan fees which will be recognized in future periods as the remaining $26 million in PPP loans are forgiven. Our overall asset quality is improving. We continue to closely monitor our portfolio of non-performing loans and have seen some signs of strengthening within certain credits, and no further degradation so we remain very optimistic. Our mortgage lending team continues to perform well. While we did see a reduction in production of 20% in the third quarter versus the linked quarter, we feel this result was driven more by housing market-related factors and the current mortgage rate environment as opposed to any actions we should have taken differently." "I continue to be very proud of our team and how we continue to navigate through these unprecedented times; always thinking of how to better address the needs of our customers." Highlights Earnings – Net income of $5.8 million for the third quarter 2021 increased $0.9 million, or 18%, from the linked quarter, and increased $0.8 million, or 17%, from the prior year quarter. EPS was $0.88 for the third quarter 2021 compared to $0.74 for both the linked quarter and prior year quarter. Net interest income and net interest margin – Net interest income of $15.4 million for the third quarter 2021, increased $1.7 million from the linked quarter and increased $1.5 million from the prior year quarter. Driving the increase from both the linked quarter and prior year quarter was an increase in PPP fee income of $1.6 million. Net interest margin, on an FTE basis, was 3.78% for the third quarter 2021, an increase from 3.40% for the linked quarter, and an increase from 3.50% for the prior year quarter. Loans – Loans held for investment totaled $1.3 billion at September 30, 2021, a decrease of $11.1 million, or 0.9%, as compared to the end of the linked quarter. Year-over-year, loans grew $3.7 million, or 0.3%, from $1.3 billion as of September 30, 2020. Asset quality – Non-performing loans totaled $32.8 million at September 30, 2021, a decrease of $1.0 million from $33.8 million at the end of the linked quarter, and an increase of $27.0 million from $5.8 million at the end of the prior year quarter. The allowance for loan losses to total loans was 1.48% at September 30, 2021, compared to 1.45% at June 30, 2021 and 1.39% at September 30, 2020. Deposits – Total deposits increased by $30.1 million, or 2.2%, equal to $1.4 billion as of September 30, 2021 as compared to the end of the linked quarter. Year-over-year deposits grew $84.3 million, or 6.4%, from $1.3 billion as of September 30, 2020. Capital – Total shareholder's equity was $139.1 million and the common equity to assets ratio was 8.00% at September 30, 2021 as compared to 7.99% and 7.45% from the end of the linked quarter and prior year quarter, respectively. Regulatory capital ratios remain "well-capitalized", with a tier 1 leverage ratio of 10.82% and a total risk-based capital ratio of 15.01%. The Company's 2019 Repurchase Plan was amended during the second quarter 2021 to authorize the purchase of up to $5.0 million in market value of the Company's common stock. Management was given discretion to determine the number and pricing of the shares to be purchased, as well as the timing of any such purchases. During the third quarter 2021, there were no share repurchases pursuant to that authorization. As of September 30, 2021, $5.0 million remained available for share repurchases pursuant to that authorization. During the third quarter 2021, the Company's Board of Directors approved a quarterly cash dividend of $0.15 per common share, payable October 1, 2021 to shareholders of record at the close of business on September 15, 2021. Net Interest Income and Net Interest Margin Net interest income of $15.4 million for the third quarter 2021 increased $1.7 million from the linked quarter and increased $1.5 million from the prior year quarter 2020. Driving the increase from both the linked quarter and prior year quarter was an increase in PPP fee income of $1.6 million. Net interest margin, on an FTE basis, was 3.78% for the third quarter 2021, compared to 3.40% for the linked quarter, and 3.50% for the prior year quarter of 2020. Loans Loans held for investment decreased by $11.1 million, or 0.9%, to $1.3 billion as of September 30, 2021 as compared to the end of the linked quarter. Contributing to the decrease in loans compared to the linked quarter was a decrease in PPP loans of $23.7 million, or 1.8% of loans held for investment. Loans grew $3.7 million, or 0.3%, as compared to the prior year quarter. Contributing to the low loan growth as compared to the prior year quarter was a reduction in PPP loans of $59.5 million, or 4.7%, of loans held for investment. Excluding the impact of PPP loans on our portfolio, we achieved $12.6 million, or 1.0%, loan growth in the third quarter as compared to the linked quarter, and $63.2 million, or 5.9%, as compared to the prior year quarter. The yield earned on average loans held for investment was 4.81%, on an FTE basis, for the third quarter 2021, compared to 4.42% for the linked quarter and 4.66% for the prior year quarter. As provided for by the CARES Act, the Company has offered payment modifications to borrowers. At September 30, 2021, $11.3 million, or 0.9%, of total loans remained in some form of a modification, as compared to $86.7 million, or 6.7%, of total loans at December 31, 2020. These loan modifications at September 30, 2021 were all interest only. Asset Quality Non-performing loans totaled $32.8 million at September 30, 2021, a decrease of $1.0 million from $33.8 million at the end of the linked quarter, and an increase of $27.0 million from $5.8 million at the end of the prior year quarter. Non-performing loans to total loans was 2.56% at September 30, 2021, and 2.61% and 0.45% at the end of the linked quarter and prior year quarter, respectively. The increase in non-performing loans as compared to the prior year quarter was primarily due to placing on non-accrual in the fourth quarter 2020, several significant loans previously modified in accordance with the CARES Act passed by Congress in 2020. At September 30, 2021, $4.9 million of the Company's allowance for loan losses was allocated to impaired loans totaling $34.7 million, compared to $5.4 million of the Company's allowance for loan losses allocated to impaired loans totaling $36.1 million at the end of the linked quarter. At September 30, 2021, management determined that $11.9 million, or 34%, of total impaired loans required no reserve allocation compared to $12.4 million, or 34%, of total impaired loans at the end of the linked quarter, primarily due to adequate collateral values. In the third quarter 2021, the Company had net loan charge-offs of $106,000 compared to net loan charge-offs of $26,000 in the linked quarter, and $58,000 of net loan charge-offs in the prior year quarter. The Company recorded provision expense of $0.3 million for loan losses for the third quarter 2021 driven principally by growth in the portfolio, compared to $0.4 million for the linked quarter and $1.2 million for the prior year quarter. The allowance for loan losses at September 30, 2021 was $18.9 million, or 1.48% of outstanding loans, and 57.7% of non-performing loans. At June 30, 2021, the allowance for loan losses was $18.7 million, or 1.45% of outstanding loans, and 55.5% of non-performing loans. At September 30, 2020, the allowance for loan losses was $17.8 million, or 1.39% of outstanding loans, and 305.5% of non-performing loans. The allowance for loan losses at September 30, 2021 represents management's best estimate of probable losses inherent in the loan portfolio and is commensurate with risks in the loan portfolio as of that date. Deposits Total deposits at September 30, 2021 were $1.4 billion, an increase of $30.1 million, or 2.2%, from June 30, 2021, and an increase of $84.3 million, or 6.4%, from the end of the prior year quarter. The increase in total deposits in the current quarter as compared to the linked quarter is primarily due to increases in demand deposits, including public funds deposits. Core deposits were $1.3 billion at September 30, 2021, an increase of $129.9 million, or 11.0%, from September 30, 2020. Growth in year-over-year core deposits is indicative of the higher savings rate customers have chosen in response to pandemic conditions. Noninterest Income For the third quarter 2021, total noninterest income was $3.7 million, a decrease of $0.9 million, or 19.9%, from the linked quarter, and a decrease of $1.4 million, or 28.2%, from the prior year quarter. The decrease in total noninterest income in the current quarter as compared to the linked quarter and prior year quarter is primarily due to the decrease in gain on sale of real estate mortgages of $0.7 million and $1.7 million, respectively. These decreases are primarily due to lower volumes of real estate mortgage loans sold of $22.7 million (37%) and $34.4 million (47%) for the linked quarter and prior year quarter, respectively, as compared to the current quarter volume sold of $39.1 million. Noninterest Expense For the third quarter 2021, total noninterest expense was $11.7 million, a decrease of $0.1 million, or 0.9%, from the linked quarter, and essentially equal to the prior year quarter. The third quarter 2021 efficiency ratio was 61.23% compared to 64.45% and 61.49% for the linked quarter and prior year quarter, respectively. Capital The Company maintains its "well capitalized" regulatory capital position. At the end of the third quarter 2021, capital ratios were as follows: total risk-based capital to risk-weighted assets 15.01%; tier 1 capital to risk-weighted assets 13.64%; tier 1 leverage 10.82% and common equity to assets 8.00%. [Tables follow] FINANCIAL SUMMARY(unaudited)$000, except per share data   Three Months Ended   September 30,      June 30,      September 30, Statement of income information: 2021   2021   2020 Total interest income $ 16,804   $ 15,169   $ 15,958 Total interest expense   1,424     1,498     2,116 Net interest income   15,380     13,671     13,842 Provision for loan losses   300     400     1,200 Noninterest income   3,675     4,589     5,119 Investment securities gains, net   126     —     12.....»»

Category: earningsSource: benzinga5 hr. 2 min. ago Related News

Peoples Financial Corporation Reports Results For The Third Quarter Of 2021

BILOXI, Miss., Oct. 27, 2021 /PRNewswire/ -- Peoples Financial Corporation (the "Company")(OTCQX Best Market: PFBX), parent of The Peoples Bank, announced earnings for the third quarter ending September 30, 2021. Net income for the third quarter of 2021 was $1,107,000 compared to a net loss of $4,262,000 for the third quarter of 2020. The earnings per weighted average common share for the third quarter of 2021 were $0.23 compared to loss per weighted average common share of $0.87 for the third quarter of 2020. Per share figures are based on weighted average common shares outstanding of 4,878,557 and 4,882,940 for the third quarters 2021 and 2020, respectively. Net income for the first nine months of 2021 was $6,226,000 compared to a net loss of $3,416,000 for the first nine months of 2020. The earnings per weighted average common share for the first nine months of 2021 were $1.28 compared to loss per weighted average common share of $0.70 for the first nine months of 2020. Per share figures are based on weighted average common shares outstanding of 4,878,557 and 4,898,051 for the first nine months of 2021 and 2020, respectively. The improvement in net income for 2021 is primarily due to the reduction in the provision for loan losses as compared with 2020.  The provision for loan losses was $4,551,000 for the third quarter of 2020 as compared with a reduction in the provision for loan losses of $173,000 for the third quarter of 2021.  The provision for loan losses was $5,948,000 for the first nine months of 2020 as compared with a reduction in the provision for loan losses of $5,004,000 for the first nine months of 2021.  Specific events relating to one credit resulted in the Company recording a large provision in the third quarter of 2020.  The Company recorded a recovery of previously charged-off principal on this same credit during the first quarter of 2021.  Based on that transaction and the on-going evaluation of the credit quality of the entire loan portfolio, Management recorded a reduction in the provision for loan losses of $4,853,000 during the first quarter of 2021. The Company's net income for the first nine months of 2021 was also impacted by an increase in non-interest expense, primarily a result of the settlement of a lawsuit of $1,125,000.  "The Company continues to make progress on its financial goals," said Chevis C. Swetman, chairman and chief executive officer of the Company and the Bank.  He added, "The Board of Directors charged bank management with reducing non-performing assets and improving our efficiency ratio.  We have made significant strides in achieving these goals, and pledge to continue our efforts."  Strength, security and stability have been hallmarks of the Company since its founding in 1985 and of The Peoples Bank since its founding in 1896.  With very few exceptions, we  have paid semi-annual cash dividends to our shareholders, while maintaining the strong capital position our shareholders expect.  The Company's capital continues its position as one of the highest in the Southeast United States.  The Company's primary capital ratio was 13.38% and 15.36% at September 30, 2021 and 2020, respectively. The Company's book value per share was $19.77 and $19.43 at September 30, 2021 and 2020, respectively. Founded in 1896, with $825 million in total assets as of September 30, 2021, The Peoples Bank operates 18 branches along the Mississippi Gulf Coast in Hancock, Harrison, Jackson and Stone counties. In addition to offering a comprehensive range of retail and commercial banking services, the Bank also operates a trust and investment services department that has provided customers with financial, estate and retirement planning services since 1936.  Peoples Financial Corporation's common stock is listed on the OTCQX Best Market under the symbol PFBX. Additional information is available on the Internet at the Company's website, www.thepeoples.com, and at the website of the Securities and Exchange Commission, www.sec.gov. This news release reflects industry conditions, Company performance and financial results and contains "forward-looking statements,' which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations.  Do not place undue reliance on forward-looking statements.  These forward-looking statements are subject to a number of risk factors and uncertainties which could cause the Company's actual results and experience to differ materially from the anticipated results and expectation expressed in such forward-looking statements. Factors that could cause our actual results to differ materially from our forward-looking statements are described under "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Regulation and Supervision" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC's website and the Company's website, each of which are referenced above. To the extent that statements in this news release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology.   Forward-looking statements represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they  are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzinga5 hr. 2 min. ago Related News

Tesla To Become A US$10 Trillion Company – Holon Global Investments

Whitney Tilson’s email to investors discussing Holon Global Investments’ report on Tesla Inc (NASDAQ:TSLA) – on the road to a US $10 trillion company and beyond. Q3 2021 hedge fund letters, conferences and more A Bullish Report On Tesla Posted here is a 144-page bullish report on Tesla, which was published recently by Tim Davies […] Whitney Tilson’s email to investors discussing Holon Global Investments’ report on Tesla Inc (NASDAQ:TSLA) – on the road to a US $10 trillion company and beyond. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more A Bullish Report On Tesla Posted here is a 144-page bullish report on Tesla, which was published recently by Tim Davies of Australian tech-focused $100M fund Holon Global Investments. I haven’t had a chance to read it, but I asked my analyst Kevin “100-bagger” DeCamp (I think he’s approaching a 150-bagger on TSLA!) to take a look and here’s what he sent me: I’ve seen much of this data and analysis before, but it’s definitely worth at least reading the executive summary. The projections and title he chooses are clearly to attract attention (why not one-up Cathie Wood with a $3,369 current value and a $10 trillion target!), but it’s a good overview to understand what’s actually going on in the auto industry, especially the challenges that legacy automakers are facing transitioning to EVs. Of note is his emphasis on Tesla’s impressive profitability while still producing at a much smaller scale than legacy OEMs (comparing Tesla’s EVs to legacy’s ICE production numbers). This will continue to improve as Tesla grows on average around 50% and its revenue mix continues to shift more towards software. Tesla reported 28.8% gross margins in 3Q excluding regulatory credits while facing supply chain issues and producing cars well under capacity. As I’ve said before, the myth that Tesla cannot make a profit without regulatory credits will continue to die a slow death. It’s on its way to Apple-like margins with a much bigger total addressable market (TAM). I’m not convinced on his bullish developing market projections, although it’s something to consider. Updated on Oct 27, 2021, 2:41 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk5 hr. 2 min. ago Related News

Soaring Gas Prices: Best State To Switch To An EV

Gas prices are climbing and it’s possible they might continue to rise as the end of the year approaches. There are only 2 states left with average gas prices under $3 per gallon! And in California, the state average for a gallon of gasoline is $4.52! Q3 2021 hedge fund letters, conferences and more Best […] Gas prices are climbing and it’s possible they might continue to rise as the end of the year approaches. There are only 2 states left with average gas prices under $3 per gallon! And in California, the state average for a gallon of gasoline is $4.52! if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Best State To Switch To An EV For those looking for a way to save on driving costs during this time, or for those who would like to minimize their carbon footprint anyway, there is a solution: an electric vehicle. But to switch to an electric vehicle there are a lot of factors to consider so Bumper, a leading vehicle history reports company, ranked all 50 states to find out where it makes sense to switch to an EV. In their Best States for Electric Cars study, Bumper ranked financial incentives by metrics like the number of rebates and tax incentives found in each state, gas prices, EV prices, average commute times, and more. They then ranked each state's infrastructure by metrics like the number of new charging stations, the number of power ports on each charging station, and the amount of other EVs. Washington is the best state for owning an electric vehicle; Alaska, the worst. The top states include Washington, Utah, Colorado, Massachusetts and California. On the other end of the spectrum, Alaska, Alabama, South Carolina, Mississippi and South Dakota are the worst states. Some states like Kentucky have recharge costs of nearly half that of California. 1,000 miles of driving in an EV costs $28.70 in Kentucky, compared with $56.30 in California! This makes Kentucky an ideal state to buy an EV in. California and New York are leading the growth for the total number of new EV charge stations. From January 2017 through August 5, 2021, the leader in new EV stations is by far California (11,833), followed by New York (2,273), Florida (1,901), Texas (1,771) and Massachusetts (1,662). The states with the fewest EV stations opening since 2017 are South Dakota (30), Alaska (33), Wyoming (37), Montana (42) and North Dakota (49). Figuring Out Your Charging Plan When thinking about switching to an EV you should figure out your charging plan. For example, some states did poorly in Bumper's study because of a lack of public charging stations. Kentucky has built only 7.5 charging stations per 100k people between 2017 and 2021, only Mississippi and Lousianna had built fewer. Most people charge at home but you may need to refuel at public charging stations near work so find out where they are. And if you are thinking of buying an EV to avoid rising gas prices or for any other reason, you should think outside of buying a Tesla. For example, Ford's EVs, especially the upcoming F-150 Lightning, could be more practical for you. Ford is investing $30 billion through 2025 in R&D, new plants, and worker training, as it believes 40% of US car volume will be electric by 2030. But apart from factors like infrastructure highlighted in Bumper’s report, the biggest reason why everyone is not buying an EV is the price. It is a valid concern when an electric car is still $7-14k more than an internal combustion equivalent. But this is a temporary situation and one that looks like it will be gone in a few years time. Richard Gargan, Consumer Advocate for Bumper said: "If you can't afford an EV or can't live with the lack of charging stations in your state, consider buying a plug-in hybrid. You can plug it into your normal wall outlet, and wait for infrastructure to improve and hopefully your next vehicle will be fully electric." Demand for oil is soaring globally with an energy crunch overseas where natural gas and coal are booming. Oil has recently hit a three-year high above $86 a barrel, driven by tight supply and a global energy crunch. Crude and fuel inventories have tightened, with crude inventories falling to a three-year low. One thing is for certain, as US President Joseph Biden has called for half of all new vehicles to be electric or hybrid-electric cars by 2030, it won't be just those of us sick of gas prices who will be switching to an EV, most of us will be. Updated on Oct 27, 2021, 3:02 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk5 hr. 2 min. ago Related News

Why Whitney Likes Alphabet More Than Apple – And Buffett Doesn’t

Whitney Tilson’s email to investors discussing Alphabet Inc (NASDAQ:GOOGL)’s earnings and share repurchases; Apple Inc (NASDAQ:AAPL)’s share repurchases; why he likes Alphabet more than Apple – and Buffett doesn’t. Q3 2021 hedge fund letters, conferences and more Alphabet’s Earnings 1) Alphabet (GOOGL), one of the original core holdings in both of our flagship newsletters, Empire […] Whitney Tilson’s email to investors discussing Alphabet Inc (NASDAQ:GOOGL)’s earnings and share repurchases; Apple Inc (NASDAQ:AAPL)’s share repurchases; why he likes Alphabet more than Apple – and Buffett doesn’t. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Alphabet's Earnings 1) Alphabet (GOOGL), one of the original core holdings in both of our flagship newsletters, Empire Stock Investor and Empire Investment Report, reported blowout earnings after the close yesterday. Revenue grew 41%, its highest growth rate in 14 years. Expenses grew more slowly, leading its operating margin to soar from 24% to 32%, its highest level in a decade. Its operating income surged 88% to a record $21 billion, and free cash flow hit $18.7 billion, up 61%. The only reason the stock isn't up big today is that it was already up 58% for the year, far surpassing the 18% average gain of the other tech giants, Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), and Facebook (FB). We continue to believe that this company has a long growth runway ahead of it and that the stock will follow. Alphabet's Share Repurchases 2) An increasingly important driver of the stock going forward is likely to be share repurchases. Last quarter, Alphabet also bought back $12.6 billion of its stock, continuing the recent surge in this area over the past five years, as you can see in this chart: Keep an eye on this. While Alphabet's share count only declined by 1.4% year over year, I think this will increase substantially over time as the company continues to gush free cash flow. Apple's Share Repurchases 3) To see what an enormous impact this can make over time, just look at Apple. Under its founder Steve Jobs, the company rarely repurchased any shares. But then Jobs died in 2011, and activist investor Carl Icahn started pushing for repurchases in late 2013. The company began to do so in increasing size, continuing through today, as you can see in this chart: As a result, Apple's diluted shares outstanding have declined by a stunning 35% (which translates into a 54% boost in earnings per share), as you can see in this chart: The performance of the business is most important, but the share repurchases have also been an important contributor... Going forward, however, I don't think Apple's share repurchases will provide nearly the same tailwind because its share price has risen so high that even the increase in share repurchases from $70 billion per year in 2019 to $90 billion in the past 12 months isn't moving the needle as much. As you can see in this chart of the year-over-year decline in diluted shares outstanding by quarter, the decline has been shrinking for nearly three years: With this year's run-up in its stock price, the math is similar for Alphabet, but just not quite to the same degree, as its market cap is less than $1.9 trillion versus nearly $2.5 trillion for Apple. Why Whitney Likes Alphabet More Than Apple - And Buffett Doesn't 4) As I compare these two companies, it's worth looking back to the article I published in July 2018: Why I like Alphabet more than Apple – and Buffett doesn't. As you can see in this chart, I was right that Alphabet would outperform – it's up 120%, double the rise in the S&P 500 Index – but dead wrong that it would do better than Apple's stock, which is up more than 200%: I'd like to think that, rather than being wrong, I was simply early. As you can see in this chart, over the past 14 months, Alphabet has far outperformed both the S&P 500 and Apple, which I think is likely to continue in the coming years: Best regards, Whitney Updated on Oct 27, 2021, 3:15 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk5 hr. 2 min. ago Related News

Dynavax (DVAX) to Report Q3 Earnings: What"s in the Cards?

Dynavax's (DVAX) topline comprising sales of hepatitis B vaccine Heplisav-B, vaccine adjuvant CpG 1018 and other revenues is expected to retain the growth momentum in Q3 results. Dynavax Technologies Corporation DVAX is scheduled to report third-quarter 2021 results on Nov 4, after the market closes.The company’s surprise history has been excellent so far with its earnings beating estimates in each of the trailing four quarters, of the average being 91.67%. In the last reported quarter, Dynavax delivered an earnings surprise of 150.00%.Shares of Dynavax have skyrocketed 331% so far this year against the industry’s decrease of 9.7%.Image Source: Zacks Investment ResearchLet’s see how things are shaping up for the quarter to be reported.Factors at PlayDynavax’s topline comprises sales of its hepatitis B vaccine Heplisav-B, its vaccine adjuvant CpG 1018 as well as other revenues. In the last reported quarter, total revenues increased significantly year over year, a trend that most likely continued in the third quarter as well.We note that CpG 1018 is the adjuvant used in Dynavax’s hepatitis B vaccine Heplisav-B, which is approved in the United States and the European Union for the prevention of infection caused by all known subtypes of the hepatitis B virus in adults, aged 18 years and above.In the last reported quarter, net product revenues from HEPLISAV-B increased year over year, a trend that most likely continued in the to-be-reported quarter.Dynavax incurs manufacturing costs for the increased volumes of CpG 1018 and HEPLISAV-B sold to its customers. In the last reported quarter, cost of sales – product increased significantly year over year, a trend that most likely continued in the quarter to be reported.Operating expenses are likely to have increased in the third quarter on higher cost to support vaccine and development activities as well as other activities.Key Developments in Q3The company collaborated with other companies for the use of CpG 1018 adjuvant in their respective COVID-19 vaccines. These collaborations are generating additional revenues for Dynavax.Dynavax has reached a commercial supply agreement with Biological E for the use of CpG 1018 adjuvant in the commercial production of the latter's subunit COVID-19 vaccine candidate Corbevax. Additionally, Valneva SE VALN is developing inactivated COVID-19 vaccine candidateVLA2001, using Dynavax's CpG 1018 adjuvant.Investors will be keen to get more updates on these collaborations during the upcoming earnings call.Earnings WhispersOur proven model does not conclusively predict an earnings beat for Dynavax 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. Unfortunately, that is not the case here as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.Earnings ESP: Dynavax has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate currently stand at 5 cents per share.Zacks Rank: Dynavax currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank stocks here.Dynavax Technologies Corporation Price and EPS Surprise Dynavax Technologies Corporation price-eps-surprise | Dynavax Technologies Corporation QuoteStocks to ConsiderHere are a few stocks you may want to consider as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:Galera Therapeutics, Inc. GRTX has an Earnings ESP of +42.64% and a Zacks Rank #2 at present.ACADIA Pharmaceuticals Inc. ACAD has an Earnings ESP of +0.87% and a Zacks Rank #3 at present.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 ACADIA Pharmaceuticals Inc. (ACAD): Free Stock Analysis Report Galera Therapeutics, Inc. (GRTX): Free Stock Analysis Report Valneva SE Sponsored ADR (VALN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks5 hr. 30 min. ago Related News

BJ"s Wholesale Club (BJ) Unveils Earlier Black Friday Offers

BJ's Wholesale Club (BJ) brings the hottest Black Friday deals at an attractive price. The company's digital capabilities also appear encouraging. As the holiday season is just approaching, retailers are on their toes to make the most of this busiest part of the year. BJ's Wholesale Club Holdings, Inc. BJ kicks off the festive season with earlier Black Friday deals at an unbeatable price. The company unveiled the dates of the Black Friday offers and is previewing a select few of those to aid members create their wish lists.It brings “Early Bird Savings” available from Nov 4 through Nov 29, 2021, “Black Friday Savings” from Nov 16 through Nov 29, “5-Day Deals” from Nov 25-29 and “Cyber Week” starts Cyber Monday on Nov 29. The company’s stores will remain closed on the Thanksgiving Day. However, guests can shop online.Members can check their wish lists either on the company’s site or in club, getting a chance to shop big-ticket articles like TVs, appliances and more at special values. They can buy items through the company’s easy shopping alternatives like in-club shopping, same-day delivery, ship-to-home and curbside pickup. Also, its buy now, pay later payment option is available this holiday for purchases of more than $99. Members can also avail the treasure hunt experience in-club and online on gifts like outdoor patio sets, winter accessories and trendy toys among others. We note that BJ’s Wholesale Club’s Black Friday mailer will include QR codes that will allow members to directly go to the company’s site to view the latest pricing and deals. The company is hiring associates for seasonal, part-time and full-time positions.What Else?BJ's Wholesale Club has been gaining from the solid execution of its strategies, outstanding membership results, market share and elevated consumer spending trends for a while. The company’s focus on simplifying assortments, expanding into high-demand categories, enhancing omni-channel capabilities and providing value to its customers bodes well.These endeavors are steadily contributing to growth in membership signups and renewals, resulting in higher membership fee income, higher average members per club and decent comparable club sales growth.The company continuously directs resources toward expanding its digital capabilities to better engage with members and provide them with convenient ways to shop including same-day delivery, curbside pick-up and buy-online plus pickup-in-club options.Additionally, BJ's Wholesale Club holds a three-year exclusive agreement with CommerceHub, a leading e-commerce platform that allows online order fulfillment and delivery solutions. Its partnership with Citizens Pay to provide online financing solutions for large purchases is encouraging as well.Shares of this currently Zacks Rank #3 (Hold) player have increased 56.9% in the past three months against the industry’s 10.5% decline.3 Stocks to ConsiderKroger KR has a long-term earnings growth rate of 8.9% and a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.Target TGT has a long-term earnings growth rate of 13.9% and a Zacks Rank #2 (Buy) at present.Costco COST has a long-term earnings growth rate of 8.6% and a Zacks Rank of 2, presently.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 Target Corporation (TGT): Free Stock Analysis Report The Kroger Co. (KR): Free Stock Analysis Report BJ's Wholesale Club Holdings, Inc. (BJ): Free Stock Analysis Report Costco Wholesale Corporation (COST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks5 hr. 30 min. ago Related News