Biggest March Madness Upset Ever: Here"s The Payout On A $100 Bet On Fairleigh Dickinson Over Purdue

Are Black 2nd Amendment Advocates The Ultimate Taboo? Authored by Matt Taibbi and Ford Fischer via TK News, “If people aren’t going to do their job, then we’re here to do it for them,” said Nick Bezzel, of the Elmer Geronimo Pratt Pistol & Rifle Gun Club, after being told for the second time today that officials in Brookhaven, Mississippi wouldn’t meet with him and other armed black activists. Bezzel was with a group of demonstrators, including Black Panthers, who were upset over a case involving a 24-year-old Federal Express driver named D’Monterrio Gibson. On January 24th earlier this year, Gibson was shot at by a man named Brandon Case and his father, Gregory Case, while attempting to make deliveries. The two Cases were eventually charged with assault, but bonded out quickly. Gibson and the accompanying group wanted elevated charges, for instance attempted murder or a hate crime. Ford Fischer’s News2Share cameras captured the scenes of activists being told a planned meeting with a District Attorney was called off, and being thrown out of the area by the Brookhaven police chief just as they were leaving. Two days later, a coalition of black pro-gun groups, including Black Panthers, the Black Riders Liberation Party, the aforementioned Elmer “Geronimo” Pratt Gun Club, Sisters of the Underground, the Huey P. Newton Gun Club, the Black Power Militia, the Black Power Coalition, and others, gathered on Juneteenth in Natchez, Mississippi at the site of the “Devil’s Punchbowl,” where some historians say up to 20,000 black people died during and after the Civil War. News2Share captured those scenes as well, which included a collective signing of a “Declaration of the Regulated United Black Militia.” Some protesters brandished a placard with a “Declaration of Self-Determination by Black Peoples and Organizations,” while others replaced “Hands up, don’t shoot!” with a new chant: “Guns up! Shoot back!” Other chants included: Black people in America ain’t taking it no more, is that right? That’s right! We believe in an eye for an eye, a tooth for a tooth, a limb for a limb, and a life for a goddamn life! These are different times… Guns up, shoot back! I said, goddamnit, black power! As Ford narrated: Despite the obvious newsworthiness of these several militias from around the country gathering to sign a “Declaration of the Regulated United Black Militia,” no other media covered the event. There are a lot of taboos on commercial television, which for instance doesn’t like to show scenes of poverty (unless it’s being chased by police), rarely interviews non-voters, almost never does military contracting fraud stories, and seldom shows results on the ground of American military/drone strikes, even if they’ve already appeared on the airwaves of other countries. Perhaps the most dependable taboo in American media, however, involves black Second Amendment advocates. As Ford and News2Share have documented over the years, there are many such groups, and they sometimes march in conjunction with groups like the Boogaloo Boys. In fact, the biggest taboo of all might be showing such groups demonstrating together: Today armed Black Lives Matter and "boogaloo" protesters joined forces for an open carry rally against police violence and government overreach. I'll have HD video up ASAP, but here are some photos I snapped today. Betcha didn't see this on cable news today. pic.twitter.com/mWXUKQkhA8 — Ford Fischer (@FordFischer) July 4, 2020 Whatever your feelings about guns — I personally am not a fan — the psychology of the contrasting coverage of pro-gun demonstrations is fascinating. News audiences are clearly meant to associate white pro-gun protesters with a dangerous and probably organized national race-hatred movement, while black pro-gun protesters either don’t exist or are a fringe movement not worth covering. Under no circumstance must such groups be shown together, even when they organize co-demonstrations. The first installment of Activism, Uncensored from last June, for instance, showed such a joint demonstration in Virginia Beach: It’s often hard to gauge whether certain movements are gaining or losing strength nationally, or are simply organizing more effectively thanks to the Internet. However, it’s clear the national press doesn’t have a settled-upon strategy for covering armed black protesters. Most commonly they appear in reflection, shown as an exaggerated phantom of conservative news coverage, with the New York Times blasting Fox News for over-depicting “fringe hate groups” during the Obama years a classic example. These groups do exist, however, and their shows of strength in places like Natchez are clearly newsworthy. What’s behind the taboo? Subscribe here... Tyler Durden Thu, 06/30/2022 - 22:30.....»»

In the 1980s, the stock broker opened a jazz record store in New York. Later, he worked as an accountant at a Norwegian oil company in West Africa. Peter Tuchman has worked at the New York Stock Exchange for nearly 38 years.Photo by Spencer Platt/Getty Images Peter Tuchman, one of the most recognizable stock brokers on Wall Street, has been at the NYSE for over 37 years. Although he's known for his commentary on the markets, Tuchman previously owned a jazz record store in New York. In the 1980s, Tuchman also worked as an accountant at a Norwegian oil company in West Africa. Peter Tuchman has been the face of Wall Street's best and worst moments for almost four decades.Tuchman, who has been at the New York Stock Exchange for nearly 38 years, is the most-photographed broker on the trading floor. His reaction are often the literal face of the biggest moves in financial markets, with one publication describing his expressions as "the aspirations and disappointments of investors the world over."The Einstein-y hair. The animated persona and Hermes ties. The enthralled reactions, shifting with whatever news is jolting markets. They are all part of his persona. Tuchman has weathered the stock market crash of 1987, the dot-com crash of the early 2000s, the global financial crisis of 2008, the COVID-19-fueled plunge in 2020, and, now, the ongoing banking turmoil following the collapse of Silicon Valley Bank earlier this month. "I love coming into work here. I love the chaos, the madness," Tuchman said in a recent interview at the stock exchange, gesturing to a group of brokers in front of us, who were eyeing a beaten-down bank stock that had halted trading several times in just an hour. Tuchman describes the New York Stock Exchange as "the delta of all information" and the "last standing human entity market in the world."His enthusiasm for financial markets holds true in person. He is lively and personable, greeting everyone on the floor by their first name. Tuchman is often asked: "How do you have so much energy? [Aren't you] 100 years old? You've got more energy than my 20 year old brother," he said.When asked his actual age, Tuchman responded: "I've been 55 for nine years. I capped out at 55.""I love coming into work here. I love the chaos, the madness," Tuchman told Insider.TIMOTHY A. CLARY/Contributor via Getty ImagesHowever, Tuchman is more than just the "spirited stock man," who updates investors and news outlets about what's moving markets on a given day. Tuchman was raised in New York City, describing his childhood as a "wonderful [and] very privileged upbringing." He was the child of immigrant parents and his father was a well-known doctor. After graduating from Riverdale Country School in the 70s, he enrolled at the University of Massachusetts Amherst and studied agriculture, international business, and finance. In the 1980s, Tuchman started trading commodities while pursuing an MBA at Baruch College. In tandem, he opened a record store and art gallery on Bleecker Street in lower Manhattan. The Corona Record Gallery –  a play on Norwegian money – specialized in printed rare out-of-print jazz albums.He was also worked at the legendary Studio 54. In Tuchman's words: "I was doing a lot of shit.""It was a busy life," he said. "I was doing a lot, I hadn't really figured my direction out yet. "In the 1980s, Tuchman moved to Benin to work at a Norwegian oil company.Peter TuchmanHis business shuttered around two years after opening. At that point, Tuchman was about 30 credits away from getting his master's degree, but decided to move to West Africa to take an accounting role at Saga Petroleum, a Norwegian oil company that has since closed down. Tuchman said he taught himself a "basic computer spreadsheet" called Lotus 1-2-3 on the 18-hour plane ride to the Republic of Benin. "I arrived in West Africa, and I was a computer specialist," he said. "It was that simple [at the time.]"He returned to New York in the spring of 1985  after he decided it was time to "get down to business." He landed a summer job as a teletypist at the New York Stock Exchange days after getting back. When he arrived, Tuchman said it was an "adrenaline-filled" environment with "thousands" on the floor. Despite the volatile market swings, Tuchman says his first day felt like he had "just found paradise."Now, Tuchman is over three decades into his time at the stock exchange. When asked about any plans to retire, Tuchman responded: "Never. Absolutely never.""For me, I've never felt this at home anywhere in my life. In the midst of the craziness, the wildness, and the chaos of the stock market. I am completely at peace."Read the original article on Business Insider.....»»

Times are tough for real estate, but these startups are still pitching promising ways to upend the market through tech and innovation. Happy Friday! Dan DeFrancesco in NYC, and I'm feeling inspired after watching this video of a bouncer disarming a devil-masked gunman trying to force his way into a Tampa strip club. Fun fact of the day: Cleopatra (VII) was born closer to the launch of the first iPhone than to the completion of the Great Pyramid.Today, we've got stories on Deutsche Bank's tumbling shares, some bad news for Block, and why Gen Z might be in trouble.But first, it's a fixer-upper...but it's got a great set of bones.If this was forwarded to you, sign up here. Download Insider's app here."Glengarry Glen Ross" (1992)Glengarry Glen Ross/Newline Cinema1. Coffee's for profitable startups only.Of the many casualties of 2022, startups focusing on the real-estate market were some of the biggest.As the real-estate market dried up, thanks to rising interest rates, these companies that were meant to upend the industry through tech and innovation suddenly took a backseat. Investments into property-technology, or proptechs, startups dropped by 40% in 2022, compared with the year prior. But, as "Game of Thrones" fans can attest to, "What is dead may never die, but rises again harder and stronger."That's why it's worth checking out this list of 26 of the hottest proptechs of 2023 compiled by Insider's real-estate and climate teams. The list, which was based on recommendations from venture capitalists, provides some interesting color on where the industry still sees promise despite being in the midst of a market drought.  And while current conditions aren't ideal for proptech startups, that could actually benefit them in the long run. Being able to weather the storm, or even find success, while other firms struggle could help a startup to really excel when the market eventually (hopefully) shifts.Click here to check out 26 of the hottest proptech startups set to take off in 2023.In other news:Miramax via YouTube2. Block falls like a brick. Short-seller Hindenburg Research released an investigation alleging Jack Dorsey's Block has misled investors with inflated metrics for its consumer-facing Cash App. Block's stock dropped 15% on Thursday as a result. More on Hindenburg's investigation here. And if you're looking for the highlights from the report, here are four of the biggest claims made by the short-seller.3. Next up: Deutsche Bank. The German bank's shares plunged on Friday as the banking madness rolled on. Deutsche's credit default swaps, which act as insurance against default, had surged on Thursday night. Get the full story.4. I don't get no respect! Wanna know the toughest job in banking? The person tasked with telling firms to take less risks, even if means they won't make as much money. The Wall Street Journal has a fascinating look at the role of chief risk officer, a position Silicon Valley Bank didn't fill for much of 2022. Oops. Read more here.5. Generation Charge It. Gen Z is in the unfortunate position of racking up debt while simultaneously falling behind on payments faster than any of their predecessors. More on why Gen Z's personal finances are headed in the wrong direction.6. If you run a nonprofit, MacKenzie Scott would like to hear from you. Jeff Bezos' ex-wife has a $250 million pot of cash she's looking to donate. Scott's organization, Yield Giving, put out an "open call" for non-profits to make the case for receiving a donation. Here's more on Scott's plans.7. How do you like them apples!? Ben Affleck and Matt Damon said they actually shared a bank account when they were coming up together as struggling actors. More here.8. More bad news if you're looking to buy a house. I gave you the half-full perspective, but here's a counter argument from someone much smarter than me. A top homebuilder CEO said it'll be tough to make a "big dent" in the current housing shortage "over the next several years." This is why he's so pessimistic.9. It's more than a game. Some of the top VCs focused on sports told us they're keen to make some deals with their new funds. Here's a rundown on where four top venture capitalists in the space are looking to make investments.10. Some advice for not pissing off your flight attendant. There's been lots of discourse this year on airplane etiquette. Listen to the professionals, and follow this advice of a veteran flight attendant on what to do before, during, and after your flight. More here.  Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Nathan Rennolds (tweet @ncrennolds) in London.  Read the original article on Business Insider.....»»

With the healthy operating fundamentals of Sunbelt markets, a strong development pipeline, redevelopment efforts and a solid balance sheet, Mid-America Apartment (MAA) is poised to ride the growth curve. Headquartered in Germantown, TN, Mid-America Apartment Communities MAA — commonly known as MAA — is engaged in owning, managing, acquiring, developing and redeveloping quality apartment communities, mainly in the Southeast, Southwest and Mid-Atlantic regions of the United States.Although shares of this residential REIT have declined 10.4% so far in the quarter, wider than the industry’s decrease of 2.8%, MAA is experiencing a favorable estimate revision trend.Estimates for the first quarter and current-year funds from operations (FFO) per share have moved marginally north over the past two months to $2.26 and $9.17, respectively. Projected FFO per share growth rates for the first quarter and 2023 are 14.7% and 7.9%, respectively.Image Source: Zacks Investment ResearchMAA’s well-diversified Sunbelt-focused portfolio is set to gain from healthy operating fundamentals. The pandemic has accelerated employment shifts and a population inflow into the company’s markets as renters seek more business-friendly, lower-taxed and low-density cities. These favorable longer-term secular dynamic trends are increasing the desirability of its markets.This Sunbelt-focused apartment REIT opts for opportunistic investments to maintain the right product mix and raise the number of apartment communities in dynamic markets. MAA projects development investments of $250 to $350 million and acquisitions of $350 to $450 million for 2023. Such efforts are likely to improve portfolio quality and propel the company’s growth over the long term.MAA continues to implement its three internal investment programs — interior redevelopment, property repositioning projects and Smart Home installations. The programs will help the company capture the upside potential in rent growth, generate accretive returns and boost earnings from its existing asset base.In 2022, the company completed 6,574 interior unit upgrades and installed 24,029 Smart Home packages. As of Dec 31, 2022, the total number of smart units is more than 71,000, and management expects to finish the rest of the portfolio in 2023.Along with the healthy operating fundamentals of Sunbelt markets and a robust development pipeline, the prospects of MAA’s redevelopment program and progress in technology measures are likely to drive margin expansion.MAA enjoys a solid balance sheet, with low leverage and ample availability under its revolving credit facility. As of Dec 31, 2022, MAA had a strong balance sheet with $1.3 billion in combined cash and capacity available under its unsecured revolving credit facility. It generated 95.2% unencumbered NOI in the fourth quarter of 2022, providing the scope for tapping additional secured debt capital if required.Solid dividend payouts are arguably the biggest enticements for REIT shareholders, and MAA remains committed to that. In the last five years, MAA has increased its dividend six times, and its five-year annualized dividend growth rate is 5.45%. Check Mid-America Apartment’s dividend history here.However, with a robust development environment and continued supply-chain issues, personnel and repair and maintenance and material costs are expected to climb up. Moreover, real estate taxes and insurance costs are expected to produce significant cost pressure.  A hike in the interest rate is a concern for MAA. Rising rates imply a higher borrowing cost for the company, which will affect its ability to purchase or develop real estate. Moreover, the dividend payout might also become less attractive than yields on fixed income and money market accounts.MAA currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.Stocks to ConsiderSome better-ranked stocks from the REIT sector are Alexandria Real Estate Equities, Inc. ARE and Terreno Realty Corporation TRNO, each carrying a Zacks Rank #2 (Buy) at present.The Zacks Consensus Estimate for Alexandria Real Estate Equities’ 2023 FFO per share has moved a cent north to $8.95 over the past month. The Zacks Consensus Estimate for Terreno Realty Corporation’s ongoing year’s FFO per share has been raised two cents over the past two months to $2.17.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs. Is THIS the Ultimate New Clean Energy Source? (4 Ways to Profit) The world is increasingly focused on eliminating fossil fuels and ramping up use of renewable, clean energy sources. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.  Our urgent special report reveals 4 hydrogen stocks primed for big gains - plus our other top clean energy stocks.  See Stocks NowWant 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 Mid-America Apartment Communities, Inc. (MAA): Free Stock Analysis Report Terreno Realty Corporation (TRNO): Free Stock Analysis Report Alexandria Real Estate Equities, Inc. (ARE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

On the morning SVB failed, Peter Tuchman downed four espresso shots and geared up for what would be a historic day on the trading floor. Trader Peter Tuchman has been at the New York Stock Exchange for almost 38 years.AP Photo/Richard Drew Peter Tuchman has been at the New York Stock Exchange for almost 38 years and is the most-photographed trader on Wall Street. Stocks plunged last week on concerns of contagion from the collapse of Silicon Valley Bank. "We've never seen the volatility that we're seeing here. The intraday madness," Tuchman said. On the morning of the largest bank failure since 2008, Peter Tuchman had four shots of espresso, two glasses of orange juice, and geared up for his day. Immediately, stocks were down that morning. The S&P 500 was having its worst week of the year. Markets were going haywire shortly after the opening bell. Tuchman, a stock broker with nearly 38 years of experience on the trading floor is the most-photographed trader on Wall Street, and he's seen his share of volatility. He's weathered the stock market crash of 1987, the bursting of the dot-com bubble, the financial crisis of 2008, and the COVID-19 sell-off of 2020.On March 10, when Silicon Valley Bank collapsed, "shit was really hitting the fan," he told Insider.Tuchman describes the New York Stock Exchange as "the delta of all information," and the "ultimate pricing mechanism" for the world's markets, and on that Friday, investors and news outlets were calling him even more than usual for a pulse check. Hedge funds, large institutions, wealthy individual investors and customers with "skin in the game" were reaching out to Tuchman and other brokers on the floor, asking: "What's going on? How much is for sale? How much is to buy? Where are we at?" he said. "We are the eyes and ears of publicly-traded companies.""It's important that within the world of liquidity and volatility that there's a human being at the point of execution, making decisions, not a machine, not a robot, not an algo," he said. Panic rattled Wall Street and equities plummeted on concerns about what's next to fall under the weight of the Federal Reserve's rising interest rates, along with contagion from SVB, which serviced more than 50% of all venture-backed companies in the US and whose fall marked the biggest calamity since the last financial crisis. Bank shares led the plunge on Friday, posting their worst week since 2020. The decline in markets was fueled by fear hitting SVB peers like Western Alliance Bancorp and Signature Bank, which both shed over 20% on the day. Like SVB, Signature would go on to be taken over by the FDIC that weekend. "We've never seen the volatility that we're seeing here. The intraday madness." Tuchman said about the last few years in financial markets. "Things that used to take generations to happen, now can happen between lunch and your coffee break, right? We can be in a bear market at 11 in the morning, and by three o'clock we're in a bull market."He added: "Well, that's insane. That used to take 20 years to happen. Now, it happens over lunch."Tuchman didn't eat lunch on Friday, but he typically doesn't anyway.Tuchman said when Silicon Valley Bank collapsed last week "shit was really hitting the fan."ReutersOn the floor, Tuchman got a sense that "something serious is happening" when multiple stocks halted trading at once. It's a pricing mechanism called "limit up, limit down," which is done temporarily to mitigate extraordinary volatility when price declines in individual securities reach levels that may exhaust market liquidity. In Tuchman's words: "We give everybody a chance to figure out what they want to do because nobody is advantaged from stocks going up 30 points and down 40 points. It's just not rational."He added: "It gives everyone a minute to calm down, see where the bodies are buried, and then make a decision going forward."Less than one minute after the opening on Friday at 9:30 a.m., First Republic Bank, another SVB peer, halted trading for six minutes. The stock paused 12 others times that day. Western Alliance followed suit, pausing 20 times intraday, according to historical data from the New York Stock Exchange."We do trade a lot of the contagion stocks so suddenly [we] are noticing the market is selling [them] off radically," he added. Monitors cover nearly every nook and cranny of the trading floor. Fast-talking brokers are hunched over their screens, taking calls, while digesting the barrage of headlines to dissecting what's moving markets. "We are surrounded by all the information that make up the market. I watch at every given second what's going on with all that information," he said, gesturing at the hundreds of monitors around us. "You're seeing everything in real time."There's always a volatility somewhere, Tuchman says, but that's part of the job. There was a sense that more trouble was brewing as traders left for the weekend. The government didn't announce that it would backstop losses for SVB and Signature Bank depositors until Sunday evening, leaving investors in the lurch over what would happen next."Markets don't like unknowns and anxiety," he said. "We didn't know a lot more than we knew. That's when you have fear in the market and that's why we had the massive sell-off on Friday."He added: "I call it a perfect storm. You've got a lack of information and transparency and clarity. You've got a weekend coming up. You've got a looming Fed meeting. You've got the world trying to come out of a pandemic. You've got a massive interest rate raising environment. You've got a tech sector under fire. You've got retail sales here. All eyes are on the market."Read the original article on Business Insider.....»»

CNQ, CVX and IMO are three fundamentally and operationally strong energy companies that should enable you to live off dividends through sector volatility. While the Energy sector can generate great returns when commodity prices go up and profits skyrocket, it is also exposed to heavy selling pressure when realizations crater. In other words, the oil and gas business is inherently cyclical, with delicate supply/demand balances, among others, determining their fortunes. Amid the specter of magnified gains and losses, investing in high-quality dividend stocks like Canadian Natural Resources CNQ, Chevron CVX and Imperial Oil IMO might fetch you stable, promising returns.Focus on Dividend Growth Investing to Offset Energy VolatilityFrom the depths of minus $38 a barrel during the height of the pandemic in April 2020 to a 14-year high surge of above $130 per barrel in March last year, crude has been on a roller-coaster ride over the past few years.Of late, the going has been particularly tricky for “black gold.” With investors dumping risky assets in the wake of the biggest U.S. bank collapse since 2008 and the Credit Suisse blowup, oil is trading below $70 for the first time since December 2021.It’s not any different for natural gas. The fuel slumped to a 25-year low in June 2020 but hit $10 per MMBtu for the first time since 2008 in August last year. Now, it has gone below $2.50, on adverse weather predictions and concerns that the banking crisis could prompt an economic slowdown that would hurt the consumption of energy.As evident from the energy market story, stocks can take a sudden turn for the good (or bad), making stock picking a risky game. Every good stock also has its bad day, which adds to the risk. With uncertainty ruling Wall Street, it is not surprising that dividend investing has emerged as one of the most popular stock market themes.Dividend stocks are always investors’ preferred choices as they provide steady income and cushion against market risks. These stocks are generally less volatile in nature and hence, dependable when it comes to long-term investment planning. They not only offer higher income but also protect against equity market risks.Moreover, dividend stocks are safe bets to create wealth, as the payouts generally act as a hedge against economic uncertainty and simultaneously provide downside protection by offering sizable yields on a regular basis. Finally, dividend growth can also help investors to offset some of the value destruction of the high inflationary environment prevailing at the moment.A Careful Stance Leads to Best Dividend StocksAlthough the benefits of dividend investing cannot be stressed enough, one should keep in mind that not every company can keep up with its dividend-paying momentum. Hence, a cautious strategy needs to be followed to select the best dividend stocks with the potential for steady returns.To guide investors to the right picks, we are recommending stocks with a payout ratio less than 60 and a dividend yield of at least 2%. Moreover, these companies have hiked their dividends over the past five years.Calculated by dividing dividend per share by earnings per share, the payout ratio indicates how comfortably a firm can pay the dividend from its earnings. It is one of the key metrics that dividend growth investors consider when looking for potential investments. A payout ratio below 60 looks quite sustainable and leaves enough scope for future dividend hikes.With our objective to build a dividend income portfolio, we look for companies that have at least better yields than the S&P 500. A representative of the broader market, the index currently yields 1.62%. While our yield criterion isn't very high, it’s at a level where the company can weather all kinds of commodity price environments and provide a reliable income stream to investors.Finally, we only consider stocks that have consistent dividend, i.e., paying and increasing offerings over the past five years. It also acts as an indicator of what to expect from the company in the next few years on the payout front.Our ChoicesWe have used the above criteria to narrow down three dividend-paying energy stocks.Canadian Natural Resources: One of the largest independent energy companies in Canada, CNQ pays out a quarterly dividend of 85 Canadian cents, or around 63 cents per share, which gives it a 4.73% yield at the current stock price. The Zacks Rank #3 (Hold) company’s payout ratio is 29, with a five-year dividend growth rate of 21.8%. (Check Canadian Natural Resources' dividend history here)You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.CNQ is valued at some $59 billion. The Canadian enengy behemoth has a trailing four-quarter earnings surprise of roughly 10.5%, on average. Calgary-based CNQ shares have lost 13.8% in a year.Chevron: Chevron is one of the largest publicly traded oil and gas companies in the world, which participates in every aspect related to energy — from oil production to refining and marketing. CVX’s dividend of $1.51 per share ($6.04 annualized) represents a 3.76% yield. The #3 Ranked Chevron’s payout ratio is 30, with a five-year dividend growth rate of 5.8%. (Check Chevron’s dividend history here)Chevron is valued at some $306.5 billion. The company’s expected EPS growth rate for three to five years is currently 14.3%, which compares favorably with the industry's growth rate of 12.4%. Chevron, headquartered in San Ramon, CA, has a trailing four-quarter earnings surprise of roughly 5.7%, on average. Chevron shares have lost 2.5% in a year.Imperial Oil: Imperial Oil is mainly engaged in oil and gas production, petroleum products refining and marketing, and chemical business. IMO pays out a quarterly dividend of 44 Canadian cents (around 32 cents, or some $1.29 annualized) per share which gives it a 2.71% yield at the current stock price. The Zacks Rank #3 company’s payout ratio is 15, with a five-year dividend growth rate of 17.9%. (Check Imperial Oil’s dividend history here)Imperial Oil is valued at some $27.9 billion. The company’s expected EPS growth rate for three to five years is currently 27.6%, which compares favorably with the industry's growth rate of 19.7%. The Canadian oil giant has a trailing four-quarter earnings surprise of roughly 11.4%, on average. IMO shares have gained 8.7% in a year. Is THIS the Ultimate New Clean Energy Source? (4 Ways to Profit) The world is increasingly focused on eliminating fossil fuels and ramping up use of renewable, clean energy sources. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.  Our urgent special report reveals 4 hydrogen stocks primed for big gains - plus our other top clean energy stocks.  See Stocks NowWant 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 Chevron Corporation (CVX): Free Stock Analysis Report Imperial Oil Limited (IMO): Free Stock Analysis Report Canadian Natural Resources Limited (CNQ): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

BlackRock's Larry Fink has been targeted, particularly among Republicans, over the past year. His annual investor letter largely avoided controversy. The weekend is nearly here! Dan DeFrancesco in NYC. Forget "Cocaine Bear." We've got cocaine hippos!The ripples from Silicon Valley Bank's collapse are still being felt by the industry. San Francisco-based First Republic Bank is reportedly considering different strategic options, including a sale.Today, we've got stories on what the hell is going on at Credit Suisse, the best airports in the world, and everything you need to know about March Madness. But first, a letter from the CEO. If this was forwarded to you, sign up here. Download Insider's app here.BlackRock CEO Larry FinkGettyImages / Eugene Gologursky1. Larry gets back to basics.If you're looking for controversy in Larry Fink's annual open letter to investors, better luck next year.The CEO and cofounder of investing behemoth BlackRock largely stayed out of the mud this year. Despite this year's letter clocking in at roughly 9,000 words — have you thought about getting an editor, Larry? — Fink largely avoided discussing a favorite, albeit controversial, topic of his: ESG investing. As Insider's Rebecca Ungarino reported, this year's letter only briefly referred to "sustainability," and had no mentions of ESG or so-called "woke" investing.It's an interesting pivot for Fink, whose letters have commonly leaned into controversial topics and, as was the case last year, even been defensive. But then again, as Rebecca pointed out in her story, Fink has had a tough go of it over the past year, specifically from Republican politicians who have largely criticized ESG investing.  To be sure, Fink did not completely avoid firing off some hot takes. As Insider's Carla Mozée reported, he did comment on SVB's collapse, suggesting there could be "more seizures and shutdowns" of US banks. Click here to read more about Larry Fink's latest annual letter that largely avoided hot political topics.In other news:Purdue's Zach Edey backs down Wisconsin's Steven Crowl.AP Photo/Andy Manis2. In one ear and out the other. Insider's Linette Lopez broke down the lessons that will be learned, or not, from the tech industry in the wake of Silicon Valley Bank's collapse. More on that here.3. Credit Suisse saw the SVB madness and said "hold my beer." The Swiss bank's stock plummeted after its biggest investor said it would "absolutely not" invest any more in the beleaguered firm. (Strong show of confidence!) It's now set to borrow up to $54 billion from the Swiss central bank as it looks to shore up liquidity. Here's a complete rundown on why Credit Suisse is not having a good time.4. Don't worry. It's not 2008 all over again. It might seem as if we are heading into another global financial crisis, but Moody's chief economist thinks differently. Here are four reasons we're not headed down the same path.5. So about those Meta layoffs... You might have seen that the tech giant conducted its second round of layoffs in four months, cutting 10,000 more workers. We analyzed Mark Zuckerberg's lengthy Facebook post on the layoffs. These are the six big takeaways from what it all means.6. If you want to build a startup, maybe take advice from this guy. Sam Altman, the CEO and cofounder of OpenAI, the company behind ChatGPT, gave a lecture at Stanford in 2014 detailing what it takes to build a successful startup. Nearly 10 years later, his advice still holds up.7. We've got some airport rankings! An aviation-ranking website released its annual list of the best airports based on passenger reviews. Surprise, surprise, there's not a bunch of US representation. Check out the top 20 here.8. It's coming for the beaches. Beaches in Florida and Mexico are going to disappoint a lot of tourists and residents if this 5,000-mile blanket of seaweed has its way. More on why the "Great Atlantic Sargassum Belt" could ruin your next vacation.9. Inside an antique collector's dream. Do you ever wake up and think, "I wish I was living in a Gatsby-inspired home?" Yeah, me neither. But in case you do, check out this California home that is almost entirely comprised of antiques. Here are lots of photos of the house meant to elicit "the era of Gatsby."10. This is March. The NCAA men's basketball tournament kicks off today. (Sorry, I don't count the First Four games.) Here's the bracket, and a rundown on how to watch the games. And if you don't know which team to root for, check out this map showing each state's most popular pick to win it all.Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Nathan Rennolds (tweet @ncrennolds) and Hallam Bullock (tweet @hallam_bullock) in London.  Read the original article on Business Insider.....»»

The Looming Reckoning For COVID Tyrants Authored by William Sullivan via American Thinker, Many of the tyrants who promoted the COVID madness have been begging for amnesty for some time, and we should only expect that their numbers will grow as more evidence surfaces.   But we should make no mistake -- there needs to be a reckoning in the West when it comes to COVID. I used to wonder as a child how extreme fanaticism, such as Nazism, could gain footing among any educated population.  I am now convinced that the internationally coordinated propaganda campaign around COVID that we all recently witnessed for nearly three years makes the Nazis look like amateurs. Please don’t take this as a typical “this thing I don’t like is Nazism” kind of comparison, but rather, think honestly about this for a moment.  It took decades of propaganda to inflame the German people’s hatred of European Jews such that they’d become second-class citizens unworthy of the simplest of rights, such as dining in a public restaurant, and eventually unworthy of even receiving medical care.  In a matter of only two years in the supposedly free West, we had mass swathes of people (or, at least the appearance of mass swathes of people on social media) openly wishing hardship and death upon their countrymen that simply chose not to inject a new, frantically concocted, unproven drug into their bodies to offset a risk that was and is, for the vast majority of people, scarcely more dangerous than the common cold or flu.  Not only did restaurants refuse service to these people as a matter of policy in places like New York City, but these people were fired from their jobs, and hospitals in some places began openly refusing life-saving services to patients if a particular individual had the audacity to not have goosestepped to the local pharmacy for not eins, but swei doses of the new drug. As with the Nazis, it doesn’t matter whether the majority of the population actually agreed with any of that, or whether the incredible visibility of an endless sea of propaganda posters and pamphlet circulars (the modern equivalent of which is Twitter and Facebook’s algorithmic bias) was just falsely presenting to the public that this was the case.  What matters is that the government, media, and corporate powers, in both cases, all acted as one symbiotic organ with a clear purpose and message designed to demonize anyone guilty of wrongthink and punish them for a lack of fealty to the ideological imperative. The truth has only begun coming to light, and already it has all but buried the COVID narrative as it once stood, though a few remaining werewolves are still demanding that we mask up in supermarkets, and there are a few remaining policies which cling to the madness of the past, such as America’s refusing the top tennis player in the world entry into the country based upon his having not been injected with the COVID cartel’s preferred drug.  But those in charge, particularly those who knowingly misled the public to generate unfounded fear and orchestrated what was arguably the greatest and most widespread policymaking calamity in human history, must be held accountable in the biggest, boldest, and most symbolic manner imaginable to assure the world that this will never happen again in the West. What we need in order to assure that outcome is something to rival the Nuremberg Trials in scope and sensationalism.  Nuremberg was selected as the location for those trials because it was there where annual propaganda rallies were held and the sickness of Nazism began.  It was symbolic to have Nazism’s end take place at the site of its beginning.  I’m hopeful that we will one day have the similarly symbolic Milan Trials to prosecute those government officials who orchestrated the lockdowns, school closures, and general human suffering that the West endured after the Lombardy region of Italy, where the city of Milan is located, followed China’s lockdown protocol without the slightest historical precedent suggesting any efficacy of the practice, and the rest of the West simply followed suit (for reasons that the Milan Trials might hopefully reveal). Though China is likely the primary culprit in unleashing COVID upon the world, and it might be perhaps more appropriate to have these trials in Wuhan, it is difficult to imagine ways in which China's ruling Communist Party can be held to account for their obvious role in all of this, outside of an armed conflict in which we are victorious.  The Chinese clearly do not respect the international authority of the United States or other Western powers any more than they respect their own innocent and healthy citizens whom they are willing to incarcerate in their homes en masse by welding the doors to their homes shut, and they are clearly withdrawing from the international dialogue while signaling alliances with the West’s adversaries.  This withdrawal may be occurring less dramatically than Japan’s storming away from the League of Nations in 1933 when the League attempted to hold it accountable for invading Manchuria, but efforts to hold China accountable for the Wuhan virus have been similarly met with Chinese disregard. Here's what is now supported by evidence as the likeliest series of events leading into the Western lockdowns, though only a year ago these would have been the ravings of a conspiracy theorist.  The Chinese government conducted gain-of-function experimentation with bat coronaviruses in an American-funded lab in Wuhan, and this mutated virus either escaped or was purposefully released.  The communist Chinese government subsequently locked down areas affected by the outbreak while hiding the actual ravages of the virus and presented to the world the efficacy of lockdowns and the destruction of one’s own national economy in the interest of public health. That the communist Chinese would do all of this out of desperation in order to jockey for a better economic position on the world stage would have shocked no one, even in early 2020.  But, prior to 2020, we in the West imagined ourselves to be citizens of nations freer than that.  That fantasy crumbled in March of 2020, and Milan, Italy, was where it began. Milan, a city of 1.2 million people, was the European ground zero for COVID lockdowns.  On March 8, 2020, the streets were silent in Milan.  Residents “woke up [that] Sunday to the news that it had been locked down by the Italian government in a bid to contain the coronavirus outbreak.” Initially, it was just 16 million supposedly free citizens on lockdown in the Lombardy region of Italy.  By March 10, it was expanded to all 60 million Italians, becoming the “first democratic nation since World War II to announce a nationwide lockdown.”  By March 14th, Spain was nationally locked down. By the 17th, so was France.  By the 23rd of March, both the U.K. and Germany were under national lockdown.   By April 1st, the majority of European countries were under national lockdown.  And, as we all know, the United States had already begun instituting localized lockdowns (based upon national guidance) so widely that, by mid-April, 300 million Americans (more than 90%) were living under some form of lockdown. What too few know, however, is that the West had flung its citizens into liberty-strangling lockdowns far more readily than even Asia, despite the fact that there had never been any modern evidence that such interventions as lockdowns could contain a respiratory viral outbreak. For example, some very early, more reliable data emerged from South Korea.  By March 27, the Center for Strategic International Studies was heralding its response, which included much coordination of health agencies and ample availability of testing, but the term “lockdown” which was being bandied about with increasing regularity in Western media didn’t appear.  Indeed, as the West was instituting nationalized lockdowns at breakneck speed, South Korea never did more than issuing national recommendations, much like Sweden did at the time, and as did Japan, Taiwan, Hong Kong, and Singapore.  In fact, few more than a handful of Asian nations had instituted national lockdowns by April 1, 2020.  By that same date, more than three in four European nations had indiscriminately locked down their entire nations.  This South Korea data was discussed by Dr. David Katz in the New York Times on March 20 of 2020 as an appeal to not commit to lockdowns in the United States. He recognized that reports from South Korea showed that deaths were “mainly clustered among the elderly, those with significant chronic illnesses such as diabetes and heart disease, and those in both groups.”  Prophetically, he warned our nation of the dangers that laid ahead if we remained committed to the lockdown strategy in order to “flatten the curve” as had already, by that time, been prescribed by Dr. Anthony Fauci: A pivot right now from trying to protect all people to focusing on the most vulnerable remains entirely plausible.  With each passing day, however, it becomes more difficult.  The path we are on may well lead to uncontained viral contagion and monumental collateral damage to our society and economy. Indeed, monumental collateral damage has been inflicted upon society and the economy in these past three years, along with the effects of uncontained viral contagion. Thankfully, we’ve reached a point where the former is discussed more commonly than the latter. Lockdowns have been a disaster on a global scale, but there has never been any convincing evidence to substantiate their efficacy in the first place.  The sober, rational people who were saying that at the time were heavily censored by early April 2020, if not erased totally in the interest of promoting preferred digital propaganda of the government, media, and corporate interests.  Why did Western nations commit to this unproven non-pharmaceutical intervention which stole irreplaceable time and experience from our children, destroyed countless small businesses while propping up corporate empires, commanded unprecedented powers for the government while stirring social unrest, and reshaped the balance of power between the citizen and the political class?  Why did they silence people who were speaking the truth?  Did they mean well and just get it wrong, or was there something more nefarious involved? We need answers.  And we demand justice, which can only come from identifying and adequately punishing those involved.  That is the only way to ensure that nothing like the COVID madness we witnessed in 2020-2022 is ever inflicted upon the world again. Tyler Durden Wed, 03/15/2023 - 16:20.....»»

ConocoPhillips (COP) obtains Biden approval for the Willow oil drilling project's development on Alaska's North Slope. ConocoPhillips (COP) will be allowed to drill from three places across its Willow site in the National Petroleum Reserve-Alaska, according to the new authorization from the U.S. Department of the Interior. While prohibiting further drilling on more than 13 million acres in Alaska and the Arctic Ocean, the Biden administration has recently approved the construction of the Willow oil drilling project on Alaska's North Slope.In Willow, the firm initially planned to drill from five well pads, believing that anything less than that would not be economically feasible. The petroleum reserve, which is situated roughly 200 miles north of the Arctic Circle, would be the site of the drilling operation. The reserve is the single biggest expanse of pristine land in the nation and has no roads.The $8 billion Willow project, headed by oil tycoon ConocoPhillips, is anticipated to produce more than 600 million barrels of petroleum over a 30-year period. There’s a possibility of almost 280 million metric tons of carbon emissions by burning all that oil. That would result in 9.2 million metric tons of carbon emissions annually, which is the same as adding nearly 2 million new automobiles to the road.The Biden administration's intentions to safeguard the Arctic have been welcomed by climate activists. However, they are upset that it would authorize a project they term as "carbon bomb", and this decision is sure to meet legal challenges from environmental groups.Zacks Rank & Key PicksCurrently, ConocoPhillips carries a Zack Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some better-ranked stocks for investors interested in the energy space are CVR Energy CVI and Valero Energy Corporation VLO, both sporting a Zacks Rank #1 and Murphy USA Inc. MUSA carrying a Zacks Rank #2 (Buy).CVR Energy, a diversified holding company with its main office in Sugar Land, TX, is an independent refiner and marketer of high value transportation fuels. Over the past seven days, CVI has seen an upward revision in earnings estimates for 2023 and 2024.Valero Energy, a TX-based company, is one of the largest independent refiners and marketers of petroleum products in the U.S. With 15 refineries spread across Canada, the United States and the United Kingdom, it has a daily refining capacity of 3.1 million barrels. Over the past 30 days, VLO has seen an upward revision in earnings estimates for 2023 and 2024.Murphy USA operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. This helps the company to get a lot more business than its competitors. Another significant competitive advantage for the firm is its access to product distribution centers and pipelines, which helps control costs in the intensely competitive retail sector. Over the past 30 days, MUSA has witnessed upward earnings estimate revisions for 2024. Free Report: Must-See Hydrogen Stocks Hydrogen fuel cells are already used to provide efficient, ultra-clean energy to buses, ships and even hospitals. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. It could even totally revolutionize the EV industry. Zacks has released a special report revealing the 4 stocks experts believe will deliver the biggest gains.Download Cashing In on Cleaner Energy today, absolutely free.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP): Free Stock Analysis Report Valero Energy Corporation (VLO): Free Stock Analysis Report CVR Energy Inc. (CVI): Free Stock Analysis Report Murphy USA Inc. (MUSA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Focus on expansion into new verticals, the increasing popularity of index products in the market, solid balance sheet and effective capital deployment poise American Equity (AEL) well for growth. American Equity Investment Life Holding’s AEL focus on expansion into new verticals, the increasing popularity of index products in the market, solid balance sheet and effective capital deployment make it worth retaining in one’s portfolio.AEL has a decent track record of beating earnings estimates in two of the last four quarters, while missing in other two, the average being 5.26%.Zacks Rank & Price PerformanceAEL currently carries a Zacks Rank #3 (Hold). Year to date, the stock has lost 27.5% against the industry’s increase of 1.2%.Image Source: Zacks Investment ResearchReturn on EquityAEL generated an average operating return on equity of 15% over the past years. The life insurer targets ROE between 11% and 14% over the next few years.Style ScoreAmerican Equity has a VGM Score of A. This style score helps identify stocks with the most attractive value, best growth, and most promising momentum.Optimistic Growth ProjectionsThe Zacks Consensus Estimate for AEL’s 2023 earnings is pegged at $4.96 per share, indicating a 35.2% increase from the year-ago reported figure. The consensus estimate for 2024 earnings is pegged at $5.76, indicating a 16.1% increase from the year-ago reported figure.Growth DriversThe Fed raised rates seven times in 2022 and once this year so far to weather inflation. At its December meeting, Fed predicted to take the interest rate to 5.1% in 2023 to combat its expected 3.1% inflation. Life insurers are direct beneficiaries of an improving interest rate environment. The majority of American Equity’s income is derived from its investment spread. Thus, AEL is poised to benefit from an improving interest rate environment.Per the U.S. Census Bureau, Americans aged 65 and older will represent 20% of the total population by 2030. With a compelling portfolio of fixed index and fixed rate annuity products guaranteeing principal protection, competitive rates of credited interest, tax-deferred growth, guaranteed lifetime income and alternative payout options, AEL is poised to benefit from this demography.This leader in the development and sale of fixed index and fixed rate annuity products is expanding into middle-market credit, real estate, infrastructure debt and agricultural loans. This should fuel fixed index annuity product sales.The execution of the AEL 2.0 strategy remains on track. AEL expects around one-third of the new business flow to convert into the return on asset business through growth in reinsured liabilities. Thus, the insurer believes its mix of fee revenues will support a higher-return business profile.Effective Capital DeploymentAEL has been strengthening its balance sheet by improving its cash balance and leverage ratio. Banking on operational strength, AEL has hiked dividends each year since 2003 when it went public. Its dividend increased at a 20-year CAGR (2003-2022) of 19.6%. Also, in November 2022, AEL’s board approved a $400 million share buyback program in tandem with the AEL 2.0 strategy and has $569 million remaining under authorization.Stocks to ConsiderSome better-ranked stocks from the insurance industry are Brighthouse Financial BHF, Primerica PRI and Voya Financial VOYA.Brighthouse Financial’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters, the average beat being 2.07%. BHF sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for BHF’s 2023 and 2024 earnings per share indicates year-over-year increases of 29.4% and 12.6%, respectively.   In a year, shares dropped 4.1%.  Primerica’s earnings surpassed the Zacks Consensus Estimate in two of the last four quarters while missed in the other two. PRI sports Zacks Rank #1. In a year, shares rallied 27.3%.  The Zacks Consensus Estimate for PRI’s 2023 and 2024 earnings per share indicates year-over-year increases of 18.3% and 8.9%, respectively.Voya Financial’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average earnings surprise being 38.68%. VOYA carries a Zacks Rank #2 (Buy).The Zacks Consensus Estimate for VOYA’s 2023 and 2024 earnings per share indicates year-over-year increases of 6.1% and 14%, respectively. In a year, shares gained 4.6%. Free Report: Must-See Hydrogen Stocks Hydrogen fuel cells are already used to provide efficient, ultra-clean energy to buses, ships and even hospitals. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. It could even totally revolutionize the EV industry. Zacks has released a special report revealing the 4 stocks experts believe will deliver the biggest gains.Download Cashing In on Cleaner Energy today, absolutely free.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Equity Investment Life Holding Company (AEL): Free Stock Analysis Report Primerica, Inc. (PRI): Free Stock Analysis Report Voya Financial, Inc. (VOYA): Free Stock Analysis Report Brighthouse Financial, Inc. (BHF): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Tecnoglass (TGLS) increases its quarterly dividend by 20% to 9 cents per share, courtesy of robust cash flow and backlog. Tecnoglass Inc. TGLS announced an increase in the dividend payout, which reflects its financial growth and ability to deliver long-term shareholder value.The board of directors approved a 20% hike in its quarterly cash dividend to 9 cents per share (36 cents annually) from 7.5 cents (30 cents annually). The new dividend will be paid out on Apr 28 to shareholders of record as of Mar 31, 2023. The dividend yield, based on TGLS’ Mar 13 closing price, is approximately 0.91%.The share price of TGLS increased 0.53% during the trading session on Mar 13.Consistent Dividend PayoutsTecnoglass has mostly shown an increasing trend in its dividend payouts, having raised the same in the last three years. The company’s strong capital position, high liquidity, robust backlog, working capital management and gains in market share in its shorter cash cycle single-family residential business are the driving factors behind the dividend hike.As of Dec 31, 2022, the company had total liquidity of $270 million, which includes cash and cash equivalents of $103.7 million and $170 million available under its committed revolving credit facilities. Net leverage ratio at 2022-end was 0.2 compared with 0.8 at 2021-end, depicting the lower trend of company’s debt financing.Total backlog of the company as of Dec 31, 2022 was $725.2 million, increasing 24% year over year. This reflects the long-term growth prospects of the company and will enable it to maintain its strong cash flow and create additional shareholder value in 2023 and ahead.This producer of architectural glass and windows and aluminum products for the residential and commercial construction industries continues to benefit from the resiliency of the vertically integrated business model and from earlier implemented high-return automation and capacity enhancements. Also, footprint expansion in single-family residential through product innovation and the opening of new showrooms bodes well.Image Source: Zacks Investment ResearchShares of Tecnoglass have risen 80.8% over the past six months, outperforming the Zacks Building Products - Retail industry’s growth of 7.1%.Zacks Rank & Other Key PicksTecnoglass currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Some other top-ranked stocks in the Zacks Retail-Wholesale sector are:Chuy's Holdings, Inc. CHUY currently sports a Zacks Rank #1. CHUY delivered a trailing four-quarter earnings surprise of 19.1%, on average. Shares of CHUY have risen 45.7% in the past six months.The Zacks Consensus Estimate for CHUY’s 2023 sales and EPS suggests growth of 10.8% and 19%, respectively, from the corresponding year-ago period’s levels.Arcos Dorados Holdings Inc. ARCO carries a Zacks Rank #2 (Buy). ARCO has a long-term earnings growth rate of 11.6%. Shares of the company have increased 5.5% in the past six months.The Zacks Consensus Estimate for ARCO’s 2023 sales and EPS suggests growth of 8.1% and 4.2%, respectively, from the year-ago period’s levels.Brinker International, Inc. EAT carries a Zacks Rank #2. EAT has a long-term earnings growth rate of 7.1%. The stock has increased 19.5% in the past six months.  The Zacks Consensus Estimate for EAT’s fiscal 2023 sales suggests growth of 8.2% but EPS suggests decline of 12%, respectively, from the year-ago period’s reported levels. Free Report: Must-See Hydrogen Stocks Hydrogen fuel cells are already used to provide efficient, ultra-clean energy to buses, ships and even hospitals. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. It could even totally revolutionize the EV industry. Zacks has released a special report revealing the 4 stocks experts believe will deliver the biggest gains.Download Cashing In on Cleaner Energy today, absolutely free.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Brinker International, Inc. (EAT): Free Stock Analysis Report Chuy's Holdings, Inc. (CHUY): Free Stock Analysis Report Arcos Dorados Holdings Inc. (ARCO): Free Stock Analysis Report Tecnoglass Inc. (TGLS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Novartis (NVS) have what it takes? Let's find out. Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.Novartis in FocusNovartis (NVS) is headquartered in Basel, and is in the Medical sector. The stock has seen a price change of -10.04% since the start of the year. The drugmaker is paying out a dividend of $2.26 per share at the moment, with a dividend yield of 2.76% compared to the Large Cap Pharmaceuticals industry's yield of 2.69% and the S&P 500's yield of 1.78%.Taking a look at the company's dividend growth, its current annualized dividend of $2.26 is up 4.6% from last year. Novartis has increased its dividend 3 times on a year-over-year basis over the last 5 years for an average annual increase of 3.62%. Future dividend growth will depend on earnings growth as well as payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Novartis's current payout ratio is 35%, meaning it paid out 35% of its trailing 12-month EPS as dividend.NVS is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2023 is $6.50 per share, which represents a year-over-year growth rate of 6.56%.Bottom LineFrom greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. But, not every company offers a quarterly payout.High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, NVS is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of 3 (Hold). Free Report: Must-See Hydrogen Stocks Hydrogen fuel cells are already used to provide efficient, ultra-clean energy to buses, ships and even hospitals. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. It could even totally revolutionize the EV industry. Zacks has released a special report revealing the 4 stocks experts believe will deliver the biggest gains.Download Cashing In on Cleaner Energy today, absolutely free.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novartis AG (NVS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Enterprise Financial Services (EFSC) have what it takes? Let's find out. All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.Enterprise Financial Services in FocusHeadquartered in Clayton, Enterprise Financial Services (EFSC) is a Finance stock that has seen a price change of -5.9% so far this year. Currently paying a dividend of $0.24 per share, the company has a dividend yield of 2.08%. In comparison, the Banks - Midwest industry's yield is 3.18%, while the S&P 500's yield is 1.78%.In terms of dividend growth, the company's current annualized dividend of $0.96 is up 6.7% from last year. Over the last 5 years, Enterprise Financial Services has increased its dividend 5 times on a year-over-year basis for an average annual increase of 16.18%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Right now, Enterprise Financial Services's payout ratio is 18%, which means it paid out 18% of its trailing 12-month EPS as dividend.Looking at this fiscal year, EFSC expects solid earnings growth. The Zacks Consensus Estimate for 2023 is $5.68 per share, with earnings expected to increase 7.17% from the year ago period.Bottom LineInvestors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. It's important to keep in mind that not all companies provide a quarterly payout.Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that EFSC is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy). Free Report: Must-See Hydrogen Stocks Hydrogen fuel cells are already used to provide efficient, ultra-clean energy to buses, ships and even hospitals. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. It could even totally revolutionize the EV industry. Zacks has released a special report revealing the 4 stocks experts believe will deliver the biggest gains.Download Cashing In on Cleaner Energy today, absolutely free.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enterprise Financial Services Corporation (EFSC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Balanced growth approach as well as dividend payout boost Rollins (ROL). Rollins, Inc.’s ROL revenues witnessed a decent growth over the past five years. A balanced approach to organic and inorganic growth is the key to this success. The company’s organic revenue growth rate is healthy, driven by strong technician and customer retention.Enhancing benefits are expected to improve employee and customer retention for the upcoming years. Furthermore, acquisitions have been acting as a major growth catalyst in Rollins’ business strategy.Rollins believes in returning capital through dividends. Consistent dividend payment underscores the company's commitment to shareholders and underline its confidence in business. The company paid dividends of $211.6 million, $208.7 million and $160.5 million in 2022, 2021 and 2020, respectively.Let’s take a look at some other factors that make the stock an attractive pick.Solid Rank & VGM Score: Rollins currently carries a Zacks Rank #2 (Buy) and has a VGM Score of B. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 (Strong Buy) or 2, offer the best investment opportunities. Thus, the company seems to be an appropriate investment proposition at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.Northward Estimate Revisions: Two estimates for 2023 moved north in the past 60 days versus no southward revision, reflecting analysts’ confidence in the company. The Zacks Consensus Estimate for 2023 earnings has moved up 1.3% in the past 60 days.Positive Earnings Surprise History: Rollins has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in three of the trailing four quarters (met once), delivering an earnings surprise of 5.9%, on average.Strong Growth Prospects: The Zacks Consensus Estimate for 2023 earnings is pegged at 80 cents per share, which reflects year-over-year growth of 6.7%. Moreover, earnings are expected to register 9.4% growth in 2024.  Other Stocks to ConsiderSome other top-ranked stocks in the broader Zacks Business Services sector are Avis Budget Group, Inc. CAR and ICF International, Inc. ICFI.Avis Budget currently carries a Zacks Rank #2 (Buy). CAR has a VGM score of A. Per our research the stock seems to be an appropriate investment proposition at the moment.CAR delivered a trailing four-quarter earnings surprise of 78%, on average.ICF International sports a Zacks Rank #1 at present. ICFI’s 2023 revenues and earnings are expected to have surged 10.4% and 6.4% year over year, respectively.ICF International delivered a trailing four-quarter earnings surprise of 9.2%, on average. Free Report: Must-See Hydrogen Stocks Hydrogen fuel cells are already used to provide efficient, ultra-clean energy to buses, ships and even hospitals. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. It could even totally revolutionize the EV industry. Zacks has released a special report revealing the 4 stocks experts believe will deliver the biggest gains.Download Cashing In on Cleaner Energy today, absolutely free.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Avis Budget Group, Inc. (CAR): Free Stock Analysis Report Rollins, Inc. (ROL): Free Stock Analysis Report ICF International, Inc. (ICFI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

AI tools like ChatGPT could wind up hypercharging everything from financial scams to government surveillance, according to tech experts. As AI tools like ChatGPT, Bing, and Bard take over the internet, experts warn that the new tech could fundamentally reshape our economy and lives.iStock; Alyssa Powell/InsiderIs it a handy tool — or a ticking time bomb?When Sam Altman was sunsetting his first startup in early 2012, there was little indication that his path ahead would parallel that of Silicon Valley's then-wunderkind Mark Zuckerberg.While Altman was weighing his next moves after shutting down Loopt, his location-sharing startup, the Facebook CEO was at the forefront of social media's global takeover and leading his company to a blockbuster initial public offering that valued Zuckerberg's brainchild at $104 billion. But just over a decade later, the tables have dramatically turned. Nowadays, the promise of social media as a unifying force for good has all but collapsed, and Zuckerberg is slashing thousands of jobs after his company's rocky pivot to the metaverse. And it's Altman, a 37-year-old Stanford dropout, who's now seeing his star rise to dizzying heights — and who faces the pitfalls of great power.Altman and his company Open AI have put Silicon Valley on notice since releasing ChatGPT to the public in November. The artificial-intelligence model, which can write prose, code, and much more, is perhaps the most powerful — and unpredictable — technology of his generation. It has also been a gold mine for Altman, leading to a multiyear, multibillion-dollar deal from Microsoft and the onboarding of 100 million users in its first two months. The pace of growth far exceeds TikTok's and Instagram's march to that milestone, making it the fastest-growing consumer internet application in history.Much like social media in 2012, the AI industry is standing on the precipice of immense change. And while social media went on to reshape our world over the next 10 years, experts told me that the consequences of AI's next steps would be an order of magnitude larger. According to researchers, the current AI models are barely scratching the surface of the tech's potential. And as Altman and his cohort charge ahead, AI could fundamentally reshape our economy and lives even more than social media. "AI has the potential to be a transformative technology in the same way that the internet was, the television, radio, the Gutenberg press," professor Michael Wooldridge, the director of foundational AI research at the Turing Institute, said. "But the way it's going to be used, I think, we can only really scarcely imagine."As Zuckerberg's track record at Facebook has proved, technology let loose can have profound consequences — and if AI is left unchecked or if growth is prioritized over safety, the repercussions could be irreparable.Revolutionary tech, done dangerouslyDan J. Wang, now an associate professor of business and sociology at Columbia Business School, used to drive past Altman's Loopt office in Palo Alto, California, as a Stanford undergrad. He told me that he saw a lot of parallels between Altman and Zuckerberg: The pair are "technology evangelists" and "really compelling leaders" who can gain the faith of those around them. Neither man was the first person to strike out in their respective fields. In Facebook's case, rivals like Myspace and Friendster had a head start, while AI has been in development for decades. But what they lack in originality, they make up for in risk tolerance. Both Zuckerberg and Altman have a willingness to expand the public use of new technology at a far faster pace than their more cautious predecessors, Wang said. "The other thing that is really interesting about both of these leaders is that they're really good at making technologies accessible," he told me.But the line between releasing cutting-edge tech to make people's lives better and letting an untested product loose on an unsuspecting public can be a thin one. And Zuckerberg's track record provides plenty of examples of how it can go wrong. In the years since Facebook's 2012 IPO, the company has rolled out dozens of products to the public, while profoundly influencing the offline world. The Cambridge Analytica scandal exposed the privacy problems that come with collecting the personal data of billions of people; the use of Facebook to facilitate violence like the genocide in Myanmar and the Capitol Hill insurrection showed just how toxic misinformation on social platforms could be; and the harms of services like Instagram on mental health have posed uncomfortable questions about the role of social media in our everyday lives.Facebook's damaged reputation is the result of the company racing ahead of consumers, regulators, and investors who failed to understand the consequences of billions of people interacting online at a scale and speed unlike anything before it. Facebook and Zuckerberg have apologized for their mistakes — but not for the guns-blazing approach of its evangelist leader who has come to embody tech's "move fast and break things" mantra. If social media helped expose the worst impulses of humanity on a mass scale, generative AI could be a turbocharger that accelerates the spread of our faults."The fact that generative-AI technology has been put out without a lot of due diligence or without a lot of mechanisms for consent — this kind of thing is really aligned with that 'move fast and break things' mindset," Margaret Mitchell, an AI research scientist who cofounded the AI-ethics division at Google, said.For Heidy Khlaaf, the director at the cybersecurity and -safety firm Trail of Bits and a former systems-safety engineer at OpenAI, the current hype cycle around generative AI that prioritizes commercial value over societal impact is, in part, being driven by companies making exaggerated claims about the technology for their own benefit."Everyone is trying to deploy this and implement it without understanding the risks that a lot of really amazing researchers have been looking into for at least the past five years," she said. "Your new technology should not be going out to the world if it can cause these downstream harms."This should offer a stark warning to Altman, OpenAI, and the rest of the artificial-intelligence industry, Mitchell told me. "Once implemented in systems that people are relying on for either facts or life-critical decisions, it's not just a novelty," she said.OpenAI opens Pandora's box While the underlying tech that powers AI has been around for a while, the power balance between ethics and profitability in the industry is starting to shift in a different direction. After securing a multibillion-dollar investment from Microsoft in January, OpenAI is now rumored to be valued at $30 billion and has wasted no time in commercializing its technology. Microsoft announced the integration of OpenAI's technology into its search engine Bing on February 7 and said it planned to infuse AI into other Microsoft products.The move has sparked something of an AI arms race. Google, which for a long time was Silicon Valley's dominant force on AI, has picked up the pace with its own commercialization efforts. The tech giant released a ChatGPT competitor called Bard just 68 days after the Bing announcement. But Bard's release also served as a cautionary tale for scaling too quickly: The launch announcement was riddled with errors, and Google's stock tumbled as a result. And it's not as if Bard is the only AI tool with problems. In its short life, ChatGPT has shown that it is prone to "hallucinations" — confident responses that appear true but are false. Biases and inaccuracies have been common occurrences, too.This approach of throwing caution to the wind is unsurprising to experts: Mitchell told me that while many companies would have been too scared to be the first mover, given the attention it would have brought upon them, OpenAI's highly public projects have made it much easier for everyone else to follow. "It's kind of like when you're on the freeway and everyone is speeding, and you're like, 'Well, look at those other guys. They're speeding. I can do that, too,'" she said.Experts say that Bing, Bard, and other AI models should generally work out the technological kinks as they evolve. The real danger, they told me, is the human oversight of it all. "There's a technological challenge where I'm more confident that AI will get better over time, but then there is the governance challenge of how humans will govern AI — there, I'm a bit more skeptical that we're on a good path," Johann Laux, a postdoctoral fellow at the Oxford Internet Institute, said.The Turing Institute's Wooldridge reckons pernicious issues like fake news could see a real "industrialization" at the hands of AI, a big worry given that models are already "routinely producing very plausible falsehoods." "What this technology is going to do is it's just going to fill our world with imperceptible falsehoods," he said. "That makes it very hard to distinguish truth from fiction."Other problems could also ensue. Yacine Jernite, a research scientist at the AI company Hugging Face, sees plenty of reason to be concerned about AI chatbots being used for financial scams. "What you need to scam someone out of their money is to build a relationship with them. You need something that's going to chat to them and feel engaged," he said. "That is not just the misuse of chatbots — it is the primary use of the chatbots and what they're trying to be better at."Khlaaf, meanwhile, sees a much more widespread risk: a wholesale dismantling of scientific integrity, extreme exaggeration of "stereotypes that harm marginalized communities," and the untold physical dangers of AI's deployment into safety-critical domains such as medicine and transport.Experts are clear that AI is still far from its full potential, but the tech is developing fast. OpenAI itself is moving with speed to release new iterations of its model. GPT-4, an upgraded version of ChatGPT, is on the horizon. But the disruptive power of AI and the dangers it poses are already apparent. For leaders, it's the "ask for forgiveness later" approach, Mitchell said.Zuckerberg's biggest mistake was allowing ethics to play second fiddle to profitability. Facebook's creation of an oversight board is a sign that the company is ready to take some responsibility, though many would argue that it's too little, too late to slay the demons unleashed by the platform. And now Altman faces the same dilemma.Altman has shown some signs that he is aware of AI's prospective harms. "If you think that you understand the impact of AI, you do not understand and have yet to be instructed further. if you know that you do not understand, then you truly understand. (-alan watts, sort of)," he tweeted on February 3. That said, researchers have little insight into the data that has been fed into OpenAI's machine, despite several calls made for OpenAI to, in fact, be open. Lifting the lid on its black box would go a long way toward showing it's serious about its issues.Columbia's Wang does think Altman is grappling with the consequences of AI — whether it's to do with the fairness, accuracy, or transparency of it. But abiding by an ethics system that makes sure to do no harm, while trying to scale up the next big thing in tech, "is almost impossible," according to Wang."If you look at his tweets recently, he's sensitive to all of these issues, but the problem with being sensitive to all of these issues is that there are invariably going to be contradictions with what you can achieve," Wang said.The glacial pace with which regulators decided to act against Facebook is unlikely to change once they decide to get serious about policing the threats posed by AI. It means Altman will be left largely unchecked to open AI's Pandora's box. Social media amplified society's issues, as Wooldridge puts it. But AI could very well create new ones. Altman will need to get this right, for everyone's sake. Otherwise, it could be lights out for all.Hasan Chowdhury is a technology reporter at Insider.Read the original article on Business Insider.....»»

A key ally for the tech industry in Silicon Valley Bank was toppled on Friday. Here's how the industry reacted. What a weekend! Dan DeFrancesco in NYC. What do you think we've got for stories today? It's all about Silicon Valley Bank going down and the knock-on effects.If you're not up to speed, here's a quick rundown on what the hell happened at Silicon Valley Bank.In short, SVB built a reputation over the past 40 years catering to the tech community. But a perfect storm of rising interest rates, poor financial decisions, a terrible market for tech, and a bank run led to SVB's downfall essentially overnight. With $209 billion in assets at the end of 2022, it's the biggest US bank collapse since Washington Mutual, which had $307 billion in assets before it went down in 2008. However, SVB is a particularly scary situation since nearly 90% of its deposits were uninsured by the FDIC due to the size of the accounts.There were lots of knock-on effects that had people worried, the most pressing of which was how startups who banked with SVB would get their money in time to pay employees this week (more on that below).However, federal regulators quelled those concerns when it announced Sunday night it was bailing out SVB customers. The US Treasury, Federal Reserve Board, and the Financial Deposit Insurance Corporation announced they would "fully protect" all depositors who had funds in Silicon Valley Bank. All their money would be available starting Monday.New York's Signature Bank was also closed by regulators over the weekend, but those depositors will also be made whole, per the announcement.Regulators also made one thing clear with their announcement: "No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer."News broke this morning that HSBC has bought the UK arm of SVB in a last-minute deal for 1 British pound, or $1.21. The UK government and the Bank of England facilitated the private sale, British Chancellor Jeremy Hunt said on Twitter: "Deposits will be protected, with no taxpayer support".As for the fate of the rest of SVB, that still remains to be seen. Here's some potential options on the likely candidates who could buy the bank.You can follow our live coverage of the SVB saga here.Alright, buckle up and let's get into it. If this was forwarded to you, sign up here. Download Insider's app here.Getty Images1. First up, here's a rundown of how it all went terribly wrong for Silicon Valley Bank. Inside the lead up and eventual failure of the tech industry's favored bank. Here's how it all went down.2. Meanwhile, SVB employees had mixed reactions in the wake of the failure. While some grieved the loss, others looked to refresh their resumes or just headed to a familiar bar for young Wall Streeters. It's not all bad news, as the employees still reportedly got paid their bonuses hours before the bank got shutdown. (To be fair, this was for 2022 work and reportedly scheduled days ago.)3. The Goldman Sachs angle. One of the most powerful banks on the Street also got involved with SVB amid the madness. Goldman helped advise SVB on its disastrous stock offering that was eventually scrapped. These are the details behind Goldman's attempt to help SVB.4. And meanwhile in VC land... A debate has emerged about the amount of blame venture capitalists deserve for their role in SVB's collapse. The VCs who moved quickly to get their cash out were successful, like Peter Thiel's Founders Fund, and say the responsibility falls solely on the bank. But some VCs claim the panic caused by VCs pushing their founders to withdraw money from the bank played a role. If you're interested, here's a take from yours truly on the role VCs played in this debacle.5. For startups, the fall of SVB sent many into a tailspin. In the immediate aftermath, the biggest concern among the startup community is whether or not they'll be able to pay their employees this week. More on that here. We've also got reactions from 8 founders about what it's been like trying to get their funds out of SVB. 6. Here's what all the big wigs think. Billionaire investor Bill Ackman is blaming the Federal Reserve for not moving quicker. Mark Cuban also has a bone to pick with the Fed. Nobel Prize-winning economist Paul Krugman has a new name for Silicon Valley Bank. OpenAI CEO Sam Altman let his money do the talking, reportedly sending six-figure loans to startups who need help making payroll. And you didn't think something this big would occur without a certain tech billionaire inserting himself into the fray.7. One person's pain is another person's gain. Meanwhile, Wall Street found an opportunity in the crisis (surprise!) by offering to buy SVB customers' uninsured deposits for as little as 55 cents on the dollar. More on the opportunistic dealmakers.8. The SVB blow up isn't just impacting small tech startups. SVB turned out to be a big lender to wineries, loaning out $4 billion to the industry over the past 30 years. Etsy has already told sellers that payments will be delayed because it was using SVB — but sellers say they're shutting their stores until the platform clears up any risk of non-payment. Meanwhile, streaming service Roku had nearly half-a-billion dollars in deposits in the bank when it failed. At least one SVB customer is having fun with it: Popular kids' toy store Camp, which had cash at the bank, ran a 40% off sale with the promo code "BANKRUN."9. And about those contagion concerns... Shares in First Republic Bank fell as much as 70% in premarket trading in the wake of SVB's collapse. First Republic, which, like SVB, also has a sizeable portion of deposits that are uninsured, reassured customers over the weekend that its liquidity remains "very strong." The same could not be said for New York's Signature Bank, which was closed on Sunday.10. One bright side of all of this: new memes. Despite the seriousness of the issue, the internet didn't pass up an opportunity to make some jokes. Here are some of the best memes that have cropped up as a result of SVB chaos.Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London.  Read the original article on Business Insider.....»»

Amber Fields, who runs the small business Little Miss Lovely Creations on Etsy, said she's "freaking out" about not getting paid on time. Etsy said it will pay sellers within the next few business days.Rafael Henrique/Getty Images Etsy told sellers Friday it would delay paying them due to the collapse of Silicon Valley Bank. The marketplace said it will pay sellers in the next few business days via another payment partner. One Etsy seller said in a TikTok video that it's "scary" and she's "freaking out." Etsy told sellers it had to delay payments in the wake of Silicon Valley Bank's collapse. The online marketplace said in a statement Friday that there'd be a delay with their deposits as it used SVB."As you may have seen, we recently experienced a delay in our ability to issue payments to some of our sellers. This was related to the rapid and unexpected collapse of Silicon Valley Bank," Etsy said in the statement posted on its community forum.  Regulators shut down SVB Friday in the biggest US bank collapse since 2008. Amber Fields, who sells personalized gifts on Etsy, posted a TikTok video on how she's been affected. "They're not paying us and that's a little scary, I'm freaking out," the Little Miss Lovely Creations owner said. "I'm a mom of three, I run a small business and I do this from my home. Those funds feed my family and pay my bills." Amanda Nielsen, who has a soap store called Flower and Earth on Etsy, told Insider: "I am not especially worried right now. My Friday payout wasn't expected to be that much and I didn't make any plans to spend on supplies or materials or general business expenses based on a larger payout."She added: "However, I know that's not the case with others. I hope that everything will be resolved with little ado; however, if an issue persists it's a possibility that I could put my Etsy shop in vacation mode." The entrepreneur said that remained an option because she didn't want to fill orders that she wasn't getting paid for. "At Etsy, supporting our sellers is our highest priority, and we understand how important it is for these small businesses to be able to receive their funds when they need them," an Etsy representative told Insider. "Our teams have been working around the clock to implement a solution, and we expect to pay sellers via our other payment partners within the next several business days."Read the original article on Business Insider.....»»

Corporate girlies romanticized their 9 to 5 grinds on social media. Now they're increasingly getting laid off, shattering that idealistic lifestyle. Lianna Smeltzer (left) and Sidney Morss (right).Lianna Smeltzer; Jordan Ashleigh On TikTok, corporate girlies document their 9 to 5 grinds, from outfits to work set-ups. But recent high-profile layoffs have some rethinking the value of romanticizing corporate life. That's led corporate girlies to rethink how they define themselves by work, and who they are as workers. Lianna Smeltzer grew up thinking becoming a "corporate girlie" was the path to success.Over the last few years, however, the 26-year-old has soured on Corporate America, and it's thrown her whole understanding of success into a tailspin. Most recently, the wave of layoffs sweeping through tech revealed a hard truth about how companies treat their employees, she said."All these people at Amazon, Google, even smaller firms who found out that they no longer worked for the company, because they were either locked out of their email, they received an email saying, here's the conditions, you're fired basically, or you're laid off," she said. In January, Smeltzer said she quit her job as a project manager at a consulting firm. Broadly, it just didn't sit right with her that "all of those people who put countless amounts of extra hours and effort and prioritized their job over their wellbeing and life" were abruptly shut out of the corporate world. As she ponders her next move, Smeltzer said she's drawn to the concept of "slow living," and is considering a few new projects.A "corporate girlie," at her core, is all about romanticizing — and, if it's on TikTok, perhaps monetizing — the aesthetic of clocking in for steady work. It looks like waking up early for a "5-to-9" side hustle before starting a 9-to-5, making the perfect green juice and putting together the perfect outfit. It means documenting for your social media following the way the sun streams through your window onto your spotless standing desk — and then wrapping up your day with the perfect balance of reading, meditation, and a meal-prepped dinner. And people are watching: #corporategirlies has 149.3 million views on TikTok.It's an idealistic lifestyle, one that evokes zillennials's version of the American dream. Corporate girlies often have the stability of a high-paying, flexible job with benefits and perks. They're also creating visibility for a new generation rising through the ranks of the corporate world, where  just 26% of executives are women. If the optimistic and poised corporate girlie was Gen Z's answer to the stop-at-nothing-girlboss, her layoff is spawning the next iteration of the workforce characterized by skepticism of how steady corporate actually is, and a focus on autonomy and mental health. For some, it's a painful reckoning that's all part of Gen Z re-imagining the role work should play in their lives.Self-described corporate girlie Elizabeth Raman-Grubbs — who stressed her views are hers, and not her employer's — said the very "glamorized" aesthetic of the lifestyle on social media has shifted as layoffs swept the industries where corporate girlies dwell, like tech and other professional services. Someone who might previously post a day-in-the-life of a corporate girlie at work might now be sharing a get-ready-with-me to get laid off, Raman-Grubbs said."It shifted a lot from that point of view, and taking care of your mental health and your wellness outside of your job has become a bigger priority for a lot of people," she said. 'I think we're lying to women about what they can accomplish in a way that we don't lie to men'Part of Sidney Morss's job as a content creator who satirizes work life is vibe checking what's happening in Corporate America. Last year it was all about worker empowerment through the Great Resignation. Now, the 29-year-old said, the general corporate tenor is fear."We're all afraid about the future of industry and what's happening to everybody's jobs. Everybody's afraid of a recession, which I always think is such a funny word, because it doesn't really matter," Morss said. "What matters is your experience of the economy you're living in and it's not good — whether or not we label it recession." @sidneymorss it’s*so*hard*to*find*good*people #entrylevel #helpwanted #satire ♬ original sound - Sidney As a result, the theme of her content right now is fear and wealth inequality, she said. It's not a new or novel concept: For decades, working women have been grappling with the concept of having it all, and trying to find joy in the balance. Today, Morss said, corporate girlies harken back to that tradition — and the harsh truth that workers often come up against, which is that work will never love them back, and companies can ax them in a moment.  "I think we're lying to women about what they can accomplish in a way that we don't lie to men," she said. "And so of course we're getting upset about that."Smeltzer, the former project manager, agrees, saying she's begun to recognize more undertones of "toxic positivity" in the concept of the corporate girlie. It's society once again pushing that "corporate is success," and it "romanticizes conditions in which most people get burnt out." Bailey Harris, a 25-year-old who was laid off from her role in recruiting at a Big Tech company, doesn't see herself returning to a corporate girlie lifestyle, either. The only case where she could imagine going back to the 9-5 grind was if it was a startup, where she could make a significant impact and own a piece of the company. A big part of people's identities, especially in the US, are tied to their work, Harris said. But as some corporate girlies get laid off, Harris' advice is to realize that wherever they were, they made an impact — and they'll do that again."Recognize that you are so much more than whatever company it was that you were working at," she said.That may be the guiding principle for the next iteration of the corporate girlie. Even the thing that was supposed to be the most stable isn't, and even its biggest adherents are learning that the hard way.Harris is getting into the side hustle business; she's flipping houses, dog walking for Rover, and helping other people craft resumés. Knowing that her income comes down to just her actions, and not a company's, is a lot more motivating and fulfilling for her. Smeltzer is considering restarting her podcast, and looking to get into user generated content. But Raman-Grubbs is still bullish on corporate girlies. "Yeah, sometimes the corporate girl is not okay, but we will be okay," she said. "That's important, too — people are resilient and if you're intentional about your time, you will be okay."Read the original article on Business Insider.....»»

Founders Fund, Other VCs Advise Companies To Pull Cash From SVB Update (1730ET): SVB must have seriously upset someone... Founders Fund, the venture capital fund co-founded by Peter Thiel, has reportedly advised companies to pull money from Silicon Valley Bank.. The firm told portfolio companies that there was no downside to removing their money from the bank, according to the people, who asked not to be identified because the information isn’t public. Additionally, Bloomberg reports that Garry Tan, the president and CEO of Y Combinator, warned its network of startups that solvency risk is real and implied they should consider limiting their exposure to the lender. “We have no specific knowledge of what’s happening at SVB,” Tan wrote in a post viewed by Bloomberg News.  “But anytime you hear problems of solvency in any bank, and it can be deemed credible, you should take it seriously and prioritize the interests of your startup by not exposing yourself to more than $250K of exposure there.” He added, “Your startup dies when you run out of money for whatever reason.” Venture firm Tribe Capital has advised its portfolio companies to move some, if not all, of their balances from SVB.  “What’s important to understand is that banks all have leverage and they use deposits, so almost by definition any bank with a business model is dead if everyone moves,” Tribe co-founder Arjun Sethi told portfolio companies in communication reviewed by Bloomberg. “Since risk is non-zero and the cost it tiny, better to diversify your risk if not all,” he added. An email thread of more than 1,000 founders from Andreessen Horowitz was abuzz with the news Thursday, with many encouraging each other to pull cash from the bank. SIVB shares down further after hours (-70%), back below $80... A cunning plan perhaps -  numerous VC icons potentially ganging up to crush a midsize bank  - which could be systemic. What better way to force Powell back into QE to 'save the world'?   *  *  * Update (1500ET): As the day wore on and SIVB shares collapsed (and fear spread contagiously across other banks and asset-classes), The Information reports that Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to “stay calm” amid concerns around a capital crunch that wiped nearly $10 billion off the bank’s market valuation. “I would ask everyone to stay calm and to support us just like we supported you during the challenging times,” he said. On a call, Becker said that “calls started coming and started panic.” He added that the bank has “ample liquidity to support our clients with one exception: If everyone is telling each other SVB is in trouble that would be a challenge.” Haven't we heard that kind of reassurance before? *  *  * Is the bursting of the tech bubble finally spilling over to the financial system? One day after the biggest crypto-focused bank, Silvergate Capital, announced plans to unwind and liquidate after a deposit run effectively killed its core business model, this morning its far larger peer - the parent company of the venerable Silicon Valley Bank, SVB Financial Group - saw its shares plunge the most in more than two decades after the company took "steps to bolster its financial position" that included not only a highly dilutive stock offering but also a panicked asset sale that sparked fears of a liquidity crisis at one of the biggest and original providers of funding to the Venture Capital industry. The Santa Clara-based company’s shares sank by as much as 60% on Thursday, their biggest decline in the company's history since going public in 1987. The slump in the shares to their lowest level since May 2020, came after SVB i) announced a stock offering, ii) sold substantially all of the available-for-sale securities in its portfolio and iii) updated its forecast for the year to include a sharper decline in net interest income. Put in context, this 60% plunge smashes SIVB back to its lowest since 2016... “While we view these actions combined with a weaker guide as a clear negative, we do not believe that SIVB is in a liquidity crisis, especially following the significant proceeds” from its sale of securities, Wedbush analyst David Chiaverini wrote as he cut his price target for the company to $200 from $250. Others clearly disagreed and dumped the stock at a pace not seen in a quarter century. The bank also said it had sold about $21 billion of securities from its portfolio (with a plan to reinvest the proceeds but don't hold your breath) which will result in an after-tax loss of $1.8 billion for the first quarter. And the cherry on top was SVB's announcement of equity offerings for $1.25 billion of its common stock and $500 million of securities that represent convertible preferred shares. Additionally, General Atlantic committed to purchase $500 million of common stock, taking the total amount being raised to about $2.25 billion. It wasn't immediately clear whether the SIVB liquidity crisis is a function of assets, i.e., loans collateralized by toxic early stage investments that have turned sour... or liabilities, i.e., a good old-fashioned deposit bank run. “The improved cash liquidity, profitability and financial flexibility resulting from the actions we announced today will bolster our financial position and our ability to support clients through sustained market pressures,” the company said in a letter to stakeholders but judging by the stock reaction, nobody believed it. Multiple analysts have pointed to the high deposit outflows as the catalyst for the liquidity sale, which stoked fears for the banking industry as a whole. Truist analyst Brandon King says “the increase in balance sheet asset sensitivity should lower the left tail risk to higher interest rates” but expects material value per share dilution from the proposed capital raise.” “The proceeds from the sale are expected to be reinvested into short duration US treasuries along and hedged with receive floating swaps” KBW analyst Christopher McGratty says SVB Financial will exit 2023 on a notable lower earnings run rate due (NII and share count), and “it’s possible that 2024E is in the $16.00-$18.00/share range” pending the price of the capital raise SVB Financial sold $21B of securities to better manage liquidity, in light of accelerated deposit outflows For the broader sector, “balance sheet management for the group is unquestionably front and center” and it’s possible that banks with “more volatile/flightly deposits” could trade lower on this news. Namely, SBNY and PACW Evercore ISI analyst John Pancari: “We favor SIVB’s strategy to shore up liquidity and reposition the balance sheet for increased asset sensitivity, particularly in lieu of the Fed’s more hawkish recent tone” Management’s updated outlook reveals incrementally weaker deposit dynamics – an output of more resilient than expected client cash burn trends, and the likely catalyst of the move Jefferies analyst Casey Haire says the balance sheet restructuring and capital raise will boost net interest income and nudge capital ratios higher... ...but also reveal that SVB Financial’s ecosystem is still challenged due to higher for longer interest rates and a surprise pick-up in client cash burn Also notes the updated 2023 guidance that implies EPS of ~$15 against consensus of $19 Bloomberg Intelligence analyst Herman Chan notes the sale “comes as a surprise considering the bank’s ability to source off-balance-sheet client funds for deposit funding” To ease the hit, SVB will raise $2.25 billion through common stock, depositary shares and a sale of shares to General Atlantic In an earlier note, Chan notes that “SVB is sitting on a $15 billion unrealized loss position in its $91 billion held-to-maturity securities portfolio” $SIVB $SIVBP You can see $15.1 billion of unrealized losses on the HTM vs. $1.3 at 2021. This is all MBS and its toasted more now than at 12/31/22. Average yield on this book is a mere ~190 bps. They can't sell this. They are frozen. pic.twitter.com/3XMxtZ3ecV — Lake Cornelia Research Management (@CorneliaLake) March 9, 2023 As Lake Cornelia Research Management goes on to note, the market implications of this situation are far and wide.   We have a $210+ billion balance sheet (which was a mere 86 billion 2 years ago) that could well have an unwind.  It is not a stretch at all to argue that on a current mark to market basis that equity is negative to the tune of of billions (you can be insolvent but liquid and survive as a bank).  The hit to the startup eco-system of an impaired or vanquished $SIVB would be substantial.   Beyond the negative duration risk we highlighted (asset side locked at sub 200 bps vs. liability side could increase to 200+), the simple mark to market on the HTM and the $88 billion of HTM and $70 billion of loans is likely far greater than the realized losses on the AFS securities sold at a $1.8 billion loss.  The asset growth since 2020 is crazy.  Total assets for $SIVB are 50% of $BSC at time of $JPM bid.   We do not believe it would be crazy to see $SIVB at $50 or lower per share when this is all done.  The negative earnings loop, and associated balance sheet pressure, of higher deposit rates plus potential for fleeing private bank clients is a dark scenario.  There are many scenarios where they will need to raise more capital (dilution to existing holders) and this may not have fixed the situation.      We have rarely seen a situation where buying a bank when it is down 40% on the day to be a good entry...these things can unwind far quicker than people realize.  People with facilities with $SIVB may well call them / draw which would further stress liquidity.  Just haircutting by 10% the value of the 21-22 growth of held loans and HTM securities alone would be a $5+ billion hit to book equity (which is ~$20 billion post these transactions).  The GA concurrent PIPE we think was the wrong investor.  If there was ever a situation to bring in an "Elliot" / "Baupost" / $GS "Prop Desk" it was this one.  The balance sheet needs to be seen as credible and diligenced.  The earnings and conference call transcripts are farcical; the CEO talks about the VC funding environment and IPO pipeline as opposed to any questions on the balance sheet position.  If this plays out adversely, it will be another sad case of a storied franchise that had a great moat..and then woke up during the $ARKK boom and decided to blow it all on a $140+ billion balance sheet growth splurge on a mortgage and loan book yielding a blended ~3.25% with massive correlation risk...which ran right into rising interest rates.    Seeing the preferred stock trade down 15% today should be eye opening to many.  It is at $16.60.  This is distress debt mafia stuff.  Par is $25 for reference.   Lot of digging to do and all the above could well be wrong.  Many / most people far smarter than I am on fins (and other things).  The point is we don't think this is over and there are a lot of second and third order implications. Tyler Durden Thu, 03/09/2023 - 17:27.....»»

Investors may keep a tab on stocks like SUI, DELL, SNV, WH and TD, which have lately hiked their dividend payments. Volatility in the U.S. stock market continues due to inflation worries. The consumer price index (CPI) rose 0.5% in January 2023 compared to a slower gain of 0.1% in December 2022. With contribution mostly from the rise in prices of shelter, food and energy, prices of goods and services rose by 6.4% over the past 12 months. Reacting to this situation, the Dow, the S&P 500 and the Nasdaq have posted a negative return of 3.81%, 4.27% and 4.82% over the past month.Domestic inflation continues to remain the biggest worry for investors and the Fed. The change in the rate of fall of inflation for January 2023 compared to December 2022 suggests that inflation remains in the system and getting control over it is more complex than what markets and the Fed have anticipated. In the month of January, more than half a million jobs were added.Growth in wage rates turned out faster than what they were a decade ago, the labor market continues to be hot, and inflation is not coming down as fast as the Fed had thought. Retail sales in the said period grew at 3.0%, suggesting that consumer spending is not slowing as anticipated. Since getting control over inflation is the Fed’s primary target, and its ambition for 2% inflation over time looks distant, it is expected the Fed will continue with its hawkish stance.Also, the global energy crisis and supply-chain distributions remain major threats to business. Thus, investors looking for regular income and capital preservation can invest in mature businesses, which pay out regular dividends. Amid adverse economic conditions, these stocks remain profitable due to their proven business models.Companies, which tend to reward investors with a high dividend payout, outperform non-dividend-paying stocks during market volatility. Investors can expect a regular flow of income in volatile market conditions.On that note, let us look at companies like Sun Communities SUI, Dell Technologies DELL, Synovus Financial SNV, Wyndham Hotels & Resorts WH and The Toronto Dominion Bank TD that lately hiked their dividend payments.Sun Communities is a fully integrated real estate company. This Zacks Rank #3 (Hold) company owns, operates & finances manufactured housing communities concentrated on the midwestern & southeastern United States. You can see the complete list of today’s Zacks #1 Rank stocks here.On Mar 3, SUI declared that its shareholders would receive a dividend of 93 cents a share on Apr 17. SUI has a dividend yield of 2.42%.Over the past five years, SUI has increased its dividend six times and its payout ratio at present sits at 48% of earnings. Check Sun Communities’ dividend history here.Sun Communities, Inc. Dividend Yield (TTM) Sun Communities, Inc. dividend-yield-ttm | Sun Communities, Inc. QuoteDell Technologies is a provider of information technology solutions. This Zacks Rank #3 company designs, develops, manufactures, markets, sells and supports various comprehensive and integrated solutions, products and services in the Americas, Europe, the Middle East, Asia, and internationally.On Mar 2, DELL declared that its shareholders would receive a dividend of 37 cents a share on May 5, 2023. DELL has a dividend yield of 3.38%.Over the past five years, DELL has increased its dividend twice and its payout ratio presently sits at 20% of earnings. Check Dell Technologies’ dividend history here.Dell Technologies Inc. Dividend Yield (TTM) Dell Technologies Inc. dividend-yield-ttm | Dell Technologies Inc. QuoteSynovus Financial is a diverse financial services company. This Zacks Rank #3 company provides integrated financial services, including commercial and retail banking, investment, and mortgage services, to its customers through locally branded divisions of its wholly-owned subsidiary, Synovus Bank, which has 257 branches in Alabama, Florida, Georgia, South Carolina and Tennessee.On Mar 2, SNV declared that its shareholders would receive a dividend of 38 cents a share on Apr 3, 2023. SNV has a dividend yield of 3.32%.Over the past five years, SNV has increased its dividend five times and its payout ratio presently sits at 28% of earnings. Check Synovus Financial’s dividend history here.Synovus Financial Corp. Dividend Yield (TTM) Synovus Financial Corp. dividend-yield-ttm | Synovus Financial Corp. QuoteWyndham Hotels & Resorts is a hotel and resort chain. This Zacks Rank #3 company operates as a hotel franchisor and provides related services to third-party hotel owners and others worldwide.On Mar 2, WH declared that its shareholders would receive a dividend of 35 cents a share on Mar 29, 2023. WH has a dividend yield of 1.63%.In the past five-year period, WH has increased its dividend six times. Its payout ratio at present sits at 32% of earnings. Check Wyndham Hotels and Resorts’ dividend history.Wyndham Hotels & Resorts Dividend Yield (TTM) Wyndham Hotels & Resorts dividend-yield-ttm | Wyndham Hotels & Resorts QuoteThe Toronto Dominion Bank is a Canadian chartered banking company. This Zacks Rank #3 company offers a wide range of business and consumer services that include checking and savings accounts, credit cards, mortgage and student loans, trusts, wills, estate planning, investment management services and financial and advisory services.On Mar 2, TD announced that its shareholders would receive a dividend of 70 cents a share on Apr 30, 2023. TD has a dividend yield of 4.34%.Over the past five years, TD has increased its dividend 13 times. Its payout ratio now sits at 44% of earnings. Check Toronto Dominion Bank’s dividend history here.Toronto Dominion Bank (The) Dividend Yield (TTM) Toronto Dominion Bank (The) dividend-yield-ttm | Toronto Dominion Bank (The) Quote This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant 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 Synovus Financial Corp. (SNV): Free Stock Analysis Report Dell Technologies Inc. (DELL): Free Stock Analysis Report Toronto Dominion Bank (The) (TD): Free Stock Analysis Report Sun Communities, Inc. (SUI): Free Stock Analysis Report Wyndham Hotels & Resorts (WH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»