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Fire At IRGC Research Facility In Tehran Injures 3 Revolutionary Guardsmen

Fire At IRGC Research Facility In Tehran Injures 3 Revolutionary Guardsmen.....»»

Category: dealsSource: nytSep 26th, 2021

End Markets to Aid Altra Industrial (AIMC), Supply-Chain Hurts

Altra Industrial (AIMC) is set to gain from solid product offerings, healthy end-market demands and debt-reduction actions. Inflation in raw material prices and supply-chain issues are concerning. Altra Industrial Motion Corp. AIMC is one of the leading manufacturers and suppliers of electromechanical power transmission, motion control and automation products. It is headquartered in Braintree, MA, and has production facilities in 16 countries.The company belongs to the Zacks Manufacturing - General Industrial industry, which, in turn, comes under the ambit of the Zacks Industrial Products sector. Economic recovery and reviving manufacturing activities are beneficial for the industry players. However, cost inflations and supply-chain headwinds are concerning.Several factors are influencing Altra Industrial’s prospects. A brief discussion on the important factors and financial projections is discussed below:Diversified Operations: The company’s competitive and financial position is enhanced by its exposure in multiple end markets and geographies. Weakness in one or more markets/geographies might be offset by strength in the others.Regarding markets, Altra Industrial’s products are used by customers in multiple end markets, including mining, material handling, energy, general industrial, turf & garden, food processing, industrial automation, and transportation. The company believes that growth opportunities in medical, robotics, general factory automation and electronics assembly equipment are solid. The tailwinds are likely to benefit in the near term. Geographically, the company has a solid presence in the United States and other parts of North America; China and other parts of Asia; and Germany and other parts of Europe.Capital Allocation: Apart from boosting organic prospects, Altra Industrial effectively uses its capital for rewarding shareholders and deleveraging the balance sheet. In the first half of 2021, the company disbursed $7.8 million as dividends. Notably, the quarterly dividend rate was hiked by 33.3% in May 2021.Regarding debt reduction, Altra Industrial repaid $50 million under its term-loan facility, higher than $30 million used for loan repayment in the year-ago period. Exiting second-quarter 2021, the company’s total debt/total equity was 40.1%, lower than 41.4% at the end of the previous quarter. Times interest earned improved sequentially from 3.3X to 3.7X.Company’s Projections: For 2021, the company anticipates earnings of $3.30-$3.46 per share, higher than $3.09-$3.24 mentioned earlier. Also, the projection suggests an increase from the year-ago reported figure of $2.88 per share.Sales for the year are projected to be $1,890-$1,920 million, above the previously mentioned $1,820-$1,850 million. Solid product offerings and healthy demand in markets served are benefiting the company.Cost Woes: The company predicts a year-over-year earnings decline for the third quarter of 2021. Inflation in prices of raw materials and wages, issues with labor and logistics, and supply-chain restrictions are expected to have been spoilsports.In second-quarter 2021, the company’s cost of sales, and selling, general and administrative expenses increased 21.5% and 29.7%, respectively. A 15% increase was recorded for research and development expenses. The operating margin was down 50 basis points year over year.Some other players in the industry, which have been adversely impacted by the above-mentioned prevailing headwinds, are IDEX Corporation IEX, Illinois Tool Works Inc. ITW, and Dover Corporation DOV.Market-Related Issues: Altra Industrial expects weakness in the renewable energy market, with sales predicted to decline slightly to remain flat, to impact its performance in 2021. Also, prevalent headwinds in the commercial aerospace market might continue to be concerning.In addition, the company is exposed to risks from foreign-currency movements, geopolitical issues, competition from local players, and macroeconomic challenges due to its wide international presence. Notably, weakness in China’s Class 8 truck and wind markets had adverse impacts on the company’s Asia Pacific sales. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Illinois Tool Works Inc. (ITW): Free Stock Analysis Report Dover Corporation (DOV): Free Stock Analysis Report IDEX Corporation (IEX): Free Stock Analysis Report Altra Industrial Motion Corp. (AIMC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks19 hr. 35 min. ago

Forget health and wellness -- Twinkie parent Hostess will benefit from consumer desire for indulgent snacks

Hostess Brands Inc. was initiated at outperform with a $22 target price at Credit Suisse based on the consumer desire for indulgent snacks that bucks the health and wellness trend. "We believe investors who pigeonhole Hostess as structurally disadvantaged owing to health and wellness trends are not looking closely enough," wrote analysts led by Robert Moskow. Analysts say data shows that consumers are snacking more and they're frequently looking for sweet snacks. "Our conclusion is that event consumers leading healthy lives will frequently consume Hostess products because they view it as a reward," Credit Suisse said. Analysts also think Hostess is undergoing a transformation that will result in a more "consumer-centric" company, with research investments that make marketing more effective and product launches, like Baby Bundts, successful. Hostess stock has rallied nearly 25% for the year to date while the S&P 500 index has gained 19% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch21 hr. 8 min. ago

: New York Fed official, giving no fresh taper-plan details, says central bank remains focused on `flexible and adaptable’ implementation of policy

SIFMAThe Federal Reserve system remains focused on maintaining “flexible and adaptable” policy implementation, a New York Fed official said Thursday, without offering any fresh details about the central bank’s forthcoming plans to taper monthly bond purchases.Officials are continuing to work on ways to improve the resiliency of the U.S. Treasury market, while also keeping their eye on technological innovations and the approaching end of LIBOR, or the London Interbank Offered Rate, said Lorie Logan, an executive vice president in the markets group of the New York Fed. The comments were made during a videoconference to the Money Marketeers of New York University.Her comments came as Fed policy makers are preparing to pull back soon on $120 billion in monthly bond purchases, which were intended to support the economy. Minutes of the Fed’s September meeting, released Wednesday, show that officials had discussed a plan to begin tapering those purchases in mid-November or mid-December. The discussion was around reducing asset purchases by $15 billion per month, although several policy makers preferred a more rapid pace.Strong inflation readings this week are raising concerns that the Fed might be pulling back on easy policy just as U.S. economic growth may be stagnating, and policy makers could be forced to lift interest rates by too much down the road, analysts say. Over the past two days, most yields have trended downward despite data showing that U.S. wholesale prices rose sharply in September, and headline consumer prices climbed by a greater-than-expected 5.4% year-over-year rate.On Thursday, Treasury yields remained lower across the board after Logan’s speech, with the 10-year rate BX:TMUBMUSD10Y hovering around 1.52%. Stocks were higher, though, with the Dow industrials DJIA rising by more than 400 points and the S&P 500 SPX and Nasdaq Composite COMP indexes each rising by more than 1.5%. Since the COVID-19 pandemic that struck the U.S. early last year, the Fed has undertaken a number of measures to ensure the continued flow of credit to households and businesses, while maintaining the smooth functioning of financial markets. Its actions have left investors flush with cash, boosting the demand for investment options.The expansion of liquidity has occurred within the central bank’s “ample reserves” framework, “which has ensured effective policy implementation recently by adapting to evolving money market conditions,” according to Logan. “However, market structure continuously evolves, which in turn can have important implications for the framework.”In response to questions after her speech, Logan addressed the rapid increase in the usage of the Fed’s overnight reverse repo facility, as well her views on the debt-ceiling debate and on market-wide central clearing of Treasury securities. She wasn’t asked about the Fed’s tapering plans. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 14th, 2021

No Qualms, No Prisoners

Totally not transitory inflation readings didn‘t sink S&P 500 – stocks recovered, and are likely to spend trading today near 4,400. Credit markets didn‘t disappoint after all, but the sectoral composition isn‘t a picture of screaming strength. Value erased steep intraday losses, so did the Russell 2000, but tech visibly lagged instead of being prodded […] Totally not transitory inflation readings didn‘t sink S&P 500 – stocks recovered, and are likely to spend trading today near 4,400. Credit markets didn‘t disappoint after all, but the sectoral composition isn‘t a picture of screaming strength. Value erased steep intraday losses, so did the Russell 2000, but tech visibly lagged instead of being prodded by retreating yields. VIX also is approaching the more complacent end of its spectrum. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more So, how far could the bulls make it? 4,420 is one resistance level, and then prior local highs at 4,470 await. The fate of this correction is being decided right there, and it‘s my view we have lower than 4,260 to go still. Therefore, I‘m taking a big picture view, and that is one of continuous inflation surprises to the upside forcing the Fed to taper, which it may or may not do. The policy risks of letting inflation run wild are increasing, so the central bank would find it hard not to deliver fast – the market would consider that a policy mistake. The tone of yesterday‘s FOMC minutes has calmed the Treasury market jitters, and the dollar succumbed. So did inflation expectations, but the shape of the TIP:TLT candle suggests that inflation isn‘t done and out. The Fed is in no position to break it, supply chain pressures, energy crunch and heating job market guarantee that it will be stubbornly with us for longer than the steadily increasing number of quarters Fed officials are admitting to. That‘s what precious metals and commodities are sensing, by the way. Cryptos aren‘t having second thoughts either. Copper caught spectacular fire, and its sudden outperformance is very conducive to real assets appreciation. But where does that leave stocks? Counting on the Fed being behind the curve, inflation has the power to derail the S&P 500 bull run – the more so it runs unchecked. The 1970s stagflation brought several wild swings, cutting the index in half as it spent the decade in a trading range. And given the breadth characteristics of the 500-strong index these days, the risks to the downside can‘t be underestimated. What‘s my target of 4,260 in this light? Let‘s consider that from the portfolio point of view – purely stock market traders might prefer to short exhaustion at 4,420 or the approach to 4,470, or balance the short position‘s risk in the stock market with precious metals, cryptos and commodity bets they way I do it – and it‘s working just fine as the precious metals and crypto positions do great while I‘m waiting for retracement in oil and copper (in price or in time). Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook S&P 500 is in the early phase of its bullish upswing, which can fizzle out easily unless the 50-day moving average is conquered again. The bulls have benefit of the (short-term) doubt. Credit Markets Quality debt instruments and HYG turned around, lending credibility to yesterday‘s stock rebound. Gold, Silver and Miners Precious metals are finally on a tear, and the exhaustive move in the miners being reversed this fast, has legs. Get ready for a challenge to $1,840 next as the fireworks I was looking for, arrived. Crude Oil Crude oil consolidates in a very narrow range, and the low volume hints at better not expecting too much downside. Copper Last three days, copper didn‘t really look back, and clearly wants to outperform the CRB Index, which has very positive implications for precious metals in the very least. The predictive effect upon the real economy needs to be viewed in light of monetary and fiscal policies getting potentially less supportive, though. Bitcoin and Ethereum The expected crypto pause came, and is gone, how did you like it? The crypto bull run is on! Summary Stock market rebound has to deal with 4,420 now, and in today‘s extensive analysis, I talked how to approach the current macroeconomic setup (inflation, taper reflected in Treasuries and the dollar) accounting for real assets too. S&P 500 isn‘t likely out of the woods yet, and the next few days will be a crucial in showing whether we‘re past this correction, or not. Or, if more than a few percent dip awaits. The places to enjoy strong gains, are precious metals, cryptos and commodities. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals. Thank you, Monica Kingsley Stock Trading Signals Gold Trading Signals Oil Trading Signals Copper Trading Signals Bitcoin Trading Signals www.monicakingsley.co mk@monicakingsley.co All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice. Updated on Oct 14, 2021, 10:36 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkOct 14th, 2021

Nikola"s stock rallies after lease agreement with PGT Trucking on 100 FCEVs

Shares of Nikola Corp. rallied 3.4% in premarket trading Thursday, after the electric truck maker announced a collaboration agreement with PGT Trucking Inc. that includes the leasing of 100 Nikola Tre heavy-duty fuel cell electric vehicles (FCEV). The lease with PGT, a flatbed transportation company, includes scheduled maintenance and hydrogen fueling services. Deliveries of the FCEV to PGT are expected to begin in 2023, which is when production is expected to commence at Nikola's Coolidge, Arizona facility. Nikola's stock has slumped 25.6% year to date through Wednesday, while the S&P 500 has gained 16.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 14th, 2021

"Mixing" COVID-19 vaccines triggers a stronger immune response, preliminary NIH study says

Giving people a different COVID-19 booster than the vaccine series that they originally received is safe and generates an immune response that is stronger, according to a preprint study conducted by the National Institutes of Health. (At this time, only BioNTech and Pfizer Inc.'s COVID-19 booster has been authorized for people who were previously vaccinated with that vaccine series.) The preprint, which was published Wednesday in advance of a public presentation set for Friday afternoon, evaluates all three authorized or approved COVID-19 vaccines in the U.S. in 458 participants as part of a "mix-and-match" clinical trial. With the exception of the people who were exclusively vaccinated and boosted with Johnson & Johnson's shots, all participants reported efficacy rates of at least 90.7%. "These data strongly suggest that homologous and heterologous booster vaccine will increase protective efficacy against symptomatic SARS-CoV-2 infection," the authors wrote. There are, however, some limitations to the research. The study is not randomized, and it also only assessed data available 29 days after the participants received their boosters.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 13th, 2021

Align Technology stock sinks to pace the S&P 500"s decliners after Stifel analyst warns of "soft" quarterly results

Shares of Align Technology Inc. slumped 6.1% toward a four-month low in afternoon trading Wednesday, enough to pace the S&P 500's decliners, after Stifel Nicolaus analyst Jonathan Block warned investors that his research suggests volumes deteriorated in recent months. Block's warning comes two weeks before the aesthetic dentistry products company is slated to report third-quarter results, after the Oct. 27 closing bell. Block said his past "quarterly diligence" was bullish, leading him to take aggressive stances heading into the previous four quarterly reports, all which beat both profit and revenue expectations. "However, our 3Q21 checks came back soft, and as a result, we view risk/reward for the upcoming print differently versus the last handful of quarters," Block wrote in a note to clients. Meanwhile, he reiterated the buy rating he's had on the stock for at least the past three years and kept his stock price target at $750. The current FactSet consensus for third-quarter earnings per share of $2.59 is the same as it was at the start of the third quarter, while the revenue consensus of $976.9 million has increased from $956.1 million. The stock has shed 8.4% over the past three months, while share of rival SmileDirectClub Inc. have tumbled 20.0% and the S&P 500 has eased 0.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 13th, 2021

Kroger comes to the northeast with a hi-tech customer fulfillment center offering delivery service

Kroger Co. has announced its entry into the northeast market with a customer fulfillment center powered by Ocado Group rather than a grocery store. The facility will offer next-day and same-day delivery. The two companies launched their first hi-tech facility in the U.S. in April. "Kroger's growing seamless ecosystem continues to scale, and we're committed to doubling both our digital sales and profitability rate by the end of 2023 and Kroger Delivery will help us reach this target," said Kroger Chief Executive Rodney McMullen in a statement. Kroger is also adding two customer fulfillment centers (CFCs) in California, and entering the South Florida market with two smaller facilities. "We have a pipeline of sites in development across the U.S., with several scheduled to open next year, and we're excited to continue delivering the Kroger experience to more doorsteps," said Gabriel Arreaga, Kroger's senior vice president and chief supply chain officer, also in a statement. Kroger stock has gained 24.7% for the year to date while the S&P 500 index is up 15.5% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 13th, 2021

Generac (GNRC) Pursues Inorganic Growth to Augment Portfolio

Generac (GNRC) is actively pursuing potential acquisition opportunities to monetize an ecosystem of devices that relate to energy use, storage, generation, control, and optimization to further strengthen its leading market position. In order to help unlock new business opportunities and generate a steady revenue stream, Generac Holdings Inc. GNRC intends to diversify its business model from being solely ‘‘equipment centric’’ to a systems and services provider with emphasis on improving end-user experience and lowering utility costs. At the same time, the company is actively pursuing potential acquisition opportunities to monetize an ecosystem of devices that relate to energy use, storage, generation, control, and optimization to further strengthen its leading market position. Recently, Generac inked an agreement to acquire Tank Utility Inc. for an undisclosed amount to augment its propane-powered portfolio.Tank Utility uses real-time tank level measurements from IoT monitors and innovative business intelligence software to optimize propane fuel logistics and helps fuel operators to augment customer experience through greater transparency. This Boston-based firm’s solutions improve fuel efficiency and reduce emission levels with sophisticated remote monitoring capabilities for propane tanks, leveraging easy-to-use 4G LTE devices and industry-leading software and analytics.Generac has long been associated with Tank Utility as a minority investor. The acquisition will enable generator and fuel dealers to better address the coronavirus-induced demand surge for various power products in residential locations as a back-up facility to support off-grid power needs and to protect from grid instability. The buyout will empower Generac to offer an integrated portfolio of propane-powered backup generators, battery storage, and home energy management solutions along with Tank Utility's monitoring and analytics services. This, in turn, will expand Generac's connectivity functionality and services with remote monitoring capabilities and enable homeowners to better adapt to the evolving energy ecosystem.In July this year, Generac forayed into the microinverter market with the acquisition of Chilicon Power, LLC for an undisclosed amount. Based in Pacific Palisades, CA, Chilicon designs and manufactures grid-interactive inverter systems and monitoring solutions and reportedly builds the world's highest efficiency 60-cell module inverter. Its highly scalable technology offers simple yet powerful and robust microinverter solutions that boast key intelligence to power residential or business operations from AC coupling to battery storage and generators with the push of a button. In particular, its power inversion and monitoring system technology maximizes PV system production, lowers installation cost and promotes end-user satisfaction.The acquisition expands Generac’s solar and storage product offerings as significant changes in the energy landscape, drastic climate change, aging power infrastructure, and the deployment of superfast 5G technology spur secular growth opportunities. The company aims to capitalize on these key growth drivers by generating more sales through higher market penetration and continued focus on research and development. A diversified distribution channel further ensures that the products reach a broad global customer base. Notably, the company has the largest network of factory direct independent generator dealers in the industry in North America.Such opportune acquisitions will likely help Generac to strengthen its competitive position in the market to better compete with rivals like Schneider Electric SE SBGSY, Cummins Inc. CMI, and Terex Corporation TEX.With more than six decades of industry experience and technology knowhow, Generac is one of the leading manufacturers of home backup generators, offering the widest range of power products in the marketplace for diversified end users. Moreover, the company intends to leverage its experience and core competencies to strengthen its position in the emerging residential energy storage and monitoring markets. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. You know this company from its past glory days, but few would expect that it's poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks' Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 Terex Corporation (TEX): Free Stock Analysis Report Cummins Inc. (CMI): Free Stock Analysis Report Schneider Electric SE (SBGSY): Free Stock Analysis Report Generac Holdings Inc. (GNRC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 13th, 2021

Lowe"s launches advertising services network

Lowe's Cos. announced the launch of the Lowe's One Roof Media Network, an advertising service. Lowe's will offer clients ad space on its website and app, space on the home retailer's social media channels, trend and other customer research and more. Samsung and Kohler are among the 100 companies that have already tried the network in beta testing. Lowe's stock has gained 30.7% for the year to date while the S&P 500 index is up 15.8% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 13th, 2021

6 analog astronauts are camping out in the Israeli desert for a month to simulate life on Mars

The experiment in Israel is meant to help scientists learn how to avoid mistakes that could endanger astronauts during a Mars mission. Analog astronauts from a European and Israeli team walk in spacesuits during a training mission at the Ramon Crater in Israel's southern Negev desert on October 10, 2021. Jack Guez/AFP/Getty Images In Israel, six analog astronauts are living and working in a small structure to simulate life on Mars. The month-long mission aims to help scientists learn how to avoid mistakes that would endanger real astronauts. Scientists are monitoring the group for signs of poor mental and physical health. Mars poses all sorts of danger to humans: radiation exposure, below-freezing temperatures, and a thin atmosphere with only traces of oxygen. If astronauts eventually visit the planet, any mistakes in the mission plan could be fatal.So scientists are conducting simulations on Earth to better anticipate what could go wrong.For nearly all of October, six analog astronauts - the term for people who help simulate life on other planets - are living in a small base camp and carrying out experiments in Israel's Negev Desert. The red dirt and rocky terrain closely resemble the Martian landscape, but temperatures are far more palatable: around 25 to 30 degrees Celsius (77 to 86 degrees Fahrenheit). That's compared to -81 degrees Fahrenheit, on average, on the red planet.The group's living quarters, a 1,300-square-foot, solar-powered structure, also serve as their laboratory. Inside, the analog astronauts sleep in bunk beds and have access to a small kitchen. If they venture out, they must wear mock spacesuits.The project, called AMADEE-20, is a joint effort between the Austrian Space Forum, Israel Space Agency, and local Israeli research center D-MARS. It was originally scheduled to take place in 2020 but got postponed due to the pandemic.The analog astronauts, along with a team of engineers and scientists, will conduct more than 20 experiments in total. Since no human has ever been to the specific site they're studying, the team will observe whether bacteria from their bodies and equipment contaminates local microbes - a sign that it might do the same to potential life forms on Mars. They'll also test new technology like self-navigating drones and wind- and solar-powered vehicles that map the desert terrain. An analog astronaut in a spacesuit holds a quadcopter drone on October 10, 2021. Jack Guez/AFP/Getty Images "We have the motto of fail fast, fail cheap, and have a steep learning curve," Gernot Groemer, director of the Austrian Space Forum, told Reuters. "Because for every mistake we make here on Earth, we hope we don't repeat it on Mars."Scientists are monitoring how the astronauts live and work in close quartersThe six analog astronauts (five men and one woman) hail from different countries: Austria, Germany, Israel, the Netherlands, Portugal, and Spain. Their mission began on October 4 and lasts until October 31. An aerial view of a habitat where astronauts are participating in a Mars training mission in Israel's Negev desert. Jack Guez/AFP/Getty Images The participants all had to pass tests that proved their mental and physical fitness to be chosen for the simulation. But that doesn't mean the experiment will be easy. Just the equipment they wear outside weighs around 110 pounds. The suits are equipped with cameras, microphones, and individual breathing systems.What's more, a key part of the mission is to observe how the astronauts handle living and working together in cramped conditions. A scientist works at the AMADEE-20 facility near Mitzpe Ramon, Israel, on October 10, 2021. Amir Cohen/Reuters Scientists are watching the analog astronauts on camera to see how they assess risks, address stress, and collaborate as a team. They're also monitoring the astronauts' vital signs and bowel movements for indicators of poor health. In addition, the astronauts are asked to fill out weekly questionnaires that gauge their levels of anxiety and depression."The group's cohesion and their ability to work together are crucial for surviving on Mars," Groemer told Agence France-Presse. "It's like a marriage, except in a marriage you can leave, but on Mars you can't." Scientists stand together at the AMADEE-20 facility on October 10, 2021. Amir Cohen/Reuters NASA hopes to send humans to Mars in the 2030sAMADEE-20 isn't the first attempt to mimic a human mission to Mars on Earth. NASA has been conducting studies in its own simulated Mars habitat in Hawaii, the Hawaii Space Exploration Analog and Simulation, since 2013. The Austrian Space Forum has also led 12 other Mars simulations in locations including Morocco, Spain, Oman, and Utah. "I believe the very first human to walk on Mars is already born and we are the ship-builders to enable this journey," Groemer told AFP. The base camp at the AMADEE-20 Martian simulation. OeWF/Florian Voggeneder NASA hopes to launch its first human mission to Mars in the 2030s.Earlier this year, SpaceX CEO Elon Musk suggested that his company could get there sooner, landing a crewed spaceship on Mars as early as 2026. But many scientists have questioned whether that timeline is realistic.At the moment, the most advanced mission to Mars is that of NASA's Perseverance rover, which is scouring the red planet for signs of ancient alien life. Analog astronauts walk across the Negev desert. OeWF/FlorianVoggeneder Perseverance is also testing out samples of spacesuit material to see how they hold up against Mars' radiation and dust.Additionally, the rover is equipped with an experimental device that takes in carbon dioxide, splits the molecules into oxygen and carbon monoxide, then spits out breathable oxygen. In April, it successfully produced oxygen from the Martian atmosphere - though only enough to help an astronaut breathe for 10 minutes (about 5 grams). A full year on Mars would likely require about 1 metric ton of oxygen (2,200 pounds) to sustain four astronauts, according to NASA.Of course, even if humans could survive on the Martian surface, transporting them there and back would be an immense challenge. The one-way journey takes about seven months, since Earth and Mars are roughly 300 million miles apart. The farthest humans have traveled in space is nearly 249,000 miles more than five decades ago.Plus, no robot we've ever sent to Mars has returned to Earth. Scientists are still working to develop technology that could make that feat possible.Read the original article on Business Insider.....»»

Category: personnelSource: nytOct 13th, 2021

Promoting your colleagues" ideas over your own could boost your influence at work, a new study finds

The findings showed you don't need to be an "aggressive jerk" to get ahead, one of the study's authors told Insider. A person whose idea gets amplified is also seen as more high status. monkeybusinessimages/Getty Images Championing your colleagues' ideas could help your own career as well as theirs, a study found. People who "amplify" other people's ideas are more admired and seemed more influential, the study found. The findings showed you don't need to be an "aggressive jerk" to get ahead, a researcher said. Promoting your colleagues' ideas over your own could boost your career, according to the authors of a recently published study. People visibly giving credit to their colleagues were viewed as more admired and more influential by their peers, the study of nearly 2,800 people found. The person whose ideas were promoted also benefited, researchers said. In contrast, people who often promoted their own work were disliked, a co-author of the study said.Kristin Bain, assistant professor of management at Rochester Institute of Technology's Saunders College of Business, told Insider the findings showed you don't need to be an "aggressive jerk" to get ahead at work.The results also suggested that promoting the work of other people can raise the profile of groups typically overlooked in organizations, such as women and people of color, she said. For the study, which was published in the Academy of Management Journal, the researchers wanted to understand the effects that amplification - which they defined as a public endorsement of another person's ideas, with credit to the person - could have on how people were perceived at work. They conducted three studies with 2,760 US participants. In one, participants were asked to observe a staged sales meeting in which a person's ideas were initially ignored, before being raised again by a colleague later on.In the second study, a person framed their own ideas using negative language. The idea was then later amplified using more positive language.For the third, the researchers worked with a nonprofit. They asked a director to identify 22 employees who typically had less influence. Many of the employees were junior. They received training and were then asked to amplify each other's ideas over a two-week period. The rest of their colleagues didn't know about the study.An organization-wide survey then measured how they were perceived. In all three studies, both the person amplifying ideas and the person whose ideas they promoted were viewed as being "higher status," which Bain defined as being more respected and admired. This gave them more influence at the company, Bain added. "Status-based influence is separate from power-based influence; You're not listening to me because you have to or I'll fire you," said Bain. "It's because you respect me and think that I have good things to say".If a person was perceived to be too self-interested, and promoted their own ideas too much, they were seen negatively."A lot of our studies sort of included this comparison condition of promoting your own ideas versus promoting somebody else's, and without fail, people did not like the people who promoted their own ideas," Bain said.That doesn't mean promoting your own ideas is always wrong, Bain said - in specific contexts, such as job interviews, it's important.The research also didn't show you're more likely to get promoted just because you endorse your colleagues, Bain said - but at the very least you're not hurting your chances.The quality of the idea you promote matters, she said. If a person promotes an idea they know is bad, it could make them look bad, she said, adding that this needed further investigation. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 13th, 2021

VOXX International Corporation Reports Its Fiscal 2022 Second Quarter And Six-Month Financial Results

ORLANDO, Fla., Oct. 12, 2021 /PRNewswire/ -- YTD Highlights Net sales of $280.2 million, up $80.2 million or 40.1% - 1st half of Fiscal 2022 vs. 1st half of Fiscal 2021. Adjusted EBITDA of $14.6 million, up $3.9 million - 1st half of Fiscal 2022 vs. 1st half of Fiscal 2021. Shipments of new rear-seat entertainment solutions with Amazon Fire TV to Stellantis and Nissan began, with Ford scheduled to start in Q4 of Fiscal 2022. New distribution agreement with GalvanEyes approved by shareholders in August 2021. Acquisition of Onkyo's Home Entertainment A/V business completed in September 2021. VOXX International Corporation (NASDAQ:VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, today announced its financial results for its Fiscal 2022 second quarter and six-months ended August 31, 2021. Commenting on the Company's Fiscal 2022 results year-to-date and continued business momentum, Pat Lavelle, President and Chief Executive Officer stated, "The VOXX team has done a good job navigating through what we believe was the worst of the supply chain shortfalls and we have the inventory on hand or in transit, to deliver for our customers. Excluding professional fees related to transactions which are now complete, our operations performed slightly better than the first half of Fiscal 2021, with Adjusted EBITDA up $3.9 million. We expect growth will continue in the second half of the year and to be up approximately 15% for the full fiscal year. We also expect good bottom-line performance, with extra investments in R&D to support new automotive OEM programs and future EyeLock business." Lavelle continued, "While the industry still faces supply chain constraints, I believe we have taken the right steps to offset the higher costs of doing business, providing us with more flexibility. New automotive OEM awards received and with more expected, expanded distribution within our Premium Audio group and the added contributions from our acquisition of Onkyo's home entertainment A/V business, and our new distribution agreement with GalvanEyes for EyeLock's biometrics products, all provide avenues for strong growth and improved bottom-line performance in the years ahead." Fiscal 2022 and Fiscal 2021 Second Quarter Comparisons Net sales in the Fiscal 2022 second quarter ended August 31, 2021, were $143.1 million as compared to net sales of $128.0 million in the Fiscal 2021 second quarter ended August 31, 2020, an increase of $15.1 million or 11.8%. Automotive Electronics segment net sales in the Fiscal 2022 second quarter were $45.8 million as compared to $32.6 million in the comparable year-ago period, an increase of $13.1 million or 40.2%. For the same comparable periods, OEM product sales were $16.4 million as compared to $10.7 million, an increase of $5.7 million or 53.1%. Aftermarket product sales for the Fiscal 2022 second quarter were $29.4 million as compared to $21.9 million, an increase of $7.4 million or 33.9%. Driving the year-over-year improvements were higher sales from the Company's DEI subsidiary, which was formed pursuant to our July 2020 acquisition, higher OEM sales for rear-seat entertainment solutions with Amazon's Fire TV, and an increase in sales for automotive safety and security products, among other factors. Consumer Electronics segment net sales in the Fiscal 2022 second quarter were $97.0 million as compared to $95.0 million in the comparable year-ago period, an increase of $2.0 million or 2.1%. For the same comparable periods, Premium Audio product sales were $76.1 million as compared to $69.3 million, an increase of $6.9 million or 9.9%. Driving the year-over-year improvements were higher sales from the Company's 11 Trading Company LLC subsidiary ("11TC"), higher sales of premium wireless speakers and wireless computer speakers, and an increase in sales within Europe. Other Consumer Electronics ("CE") product sales of $20.8 million and $25.7 million, declined by $4.9 million or 19.0% when comparing the Fiscal 2022 and Fiscal 2021 second quarter periods. The CE product sales declines were driven primarily by higher sales in Fiscal 2021 brought about by the COVID-19 environment as more people were working from home, as well as industrywide supply chain constraints. Biometrics segment net sales in the Fiscal 2022 and Fiscal 2021 second quarters were approximately $0.3 million, relatively flat for the comparable periods. The gross margin in the Fiscal 2022 second quarter was 26.0% as compared to 29.7% in the Fiscal 2021 second quarter, a decline of 370 basis points, or a $0.9 million decline in gross profit. The year-over-year decline in gross margin was primarily driven by global, industry-wide supply chain constraints. Automotive Electronics segment gross margin of 23.9% as compared to 20.6%, up 330 basis points. The year-over-year improvement was primarily related to sales of aftermarket products from the Company's DEI subsidiary and higher sales of OEM security and remote start products. Offsetting factors include the higher costs of materials and shipping, as well as start-up production costs related to new OEM rear-seat entertainment programs. Consumer Electronics segment gross margin of 26.9% as compared to 32.9%, down 600 basis points. The primary driver for the year-over-year declines were significant increases in container costs and surcharges, and sales of certain products through new distribution channels, the latter of which, positively impacted revenue and gross profit dollars, but led to lower gross margin. Sales of premium headphones and products sold through 11TC positively contributed to gross margin, and in Europe, gross margins improved primarily due to product mix. Biometrics segment gross margins of 30.4% as compared to 0.4%. The year-over-year improvement was primarily driven by price reductions in the Fiscal 2021 second quarter as new products were introduced to market. Total operating expenses in the Fiscal 2022 second quarter were $39.9 million as compared to $29.6 million in the comparable Fiscal 2021 period, an increase of $10.4 million. Selling expenses increased by $2.6 million when comparing the periods ended August 31, 2021, and August 31, 2020. This was primarily due to a $1.5 million increase in salary expenses and related payroll taxes due to the absence of COVID-19 related furloughs and salary and bonus reductions, and higher headcount related to the newly formed subsidiaries. Higher commissions as a result of an increase in net sales, as well as higher advertising expenses, digital payment fees and travel expenses comprised the majority of the remainder of the increase. General and administrative expenses increased by $2.5 million when comparing the periods ended August 31, 2021, and August 31, 2020. Higher salary and office expenses related to COVID-19 comprised $1.4 million of the year-over-year increase. The remainder was primarily related to higher professional fees, which increased by approximately $0.9 million for the comparable periods. Engineering and technical support expenses increased by $3.1 million when comparing the periods ended August 31, 2021 and August 31, 2020. The year-over-year increase was due to higher labor and related payroll taxes associated with the DEI subsidiary, research and development expenses to support a new automotive OEM program, product certification costs, the absence of companywide furloughs related to the COVID-19 environment, and reimbursements of engineering expenses in prior periods. The Company reported an operating loss in the Fiscal 2022 second quarter of $2.7 million as compared to operating income of $8.5 million in the Fiscal 2021 second quarter. Total other income, net, for the three-months ended August 31, 2021, was $1.8 million as compared to total other income, net, of $0.6 million for the three-months ended August 31, 2020. The primary drivers were a decline of $0.4 million in interest and bank charges, a $0.2 million improvement in equity in income of equity investees, which relates to higher sales and net income from the Company's 50% non-controlling interest in ASA Electronics, LLC ("ASA"), and a $0.6 million increase in other, net for the comparable periods, which relates to net foreign currency gains or losses, interest income, rental income, and other miscellaneous income and expense. Net income attributable to VOXX International Corporation in the Fiscal 2022 second quarter was $0.3 million as compared to net income attributable to VOXX International Corporation of $7.3 million in the comparable Fiscal 2021 period. The Company reported basic and diluted net income per share attributable to VOXX International Corporation of $0.01 in the Fiscal 2022 second quarter as compared to basic and diluted net income per common share attributable to VOXX International Corporation of $0.30 in the comparable Fiscal 2021 period. Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") in the Fiscal 2022 second quarter was $3.2 million as compared to EBITDA in the Fiscal 2021 second quarter of $13.5 million. Adjusted EBITDA in the Fiscal 2022 second quarter was $6.4 million as compared to Adjusted EBITDA in the Fiscal 2021 second quarter of $14.0 million. Fiscal 2022 and Fiscal 2021 Six-Month Comparisons Net sales in the Fiscal 2022 six-month period ended August 31, 2021, were $280.2 million as compared to net sales of $200.0 million in the Fiscal 2021 six-month period ended August 31, 2020, up $80.2 million or 40.1%. Automotive Electronics segment net sales in the Fiscal 2022 six-month period were $88.4 million as compared to $49.9 million in the comparable year-ago period, an increase of $38.5 million or 77.2%. For the same comparable periods, OEM product sales were $31.3 million as compared to $18.4 million, an increase of $12.9 million or 70.5%, and aftermarket product sales were $57.1 million as compared to $31.5 million, an increase of $25.6 million or 81.1%. Consumer Electronics segment net sales in the Fiscal 2022 six-month period were $191.1 million as compared to $149.5 million in the comparable Fiscal 2021 six-month period, an increase of $41.6 million or 27.8%. For the same comparable periods, Premium Audio product sales were $147.7 million as compared to $103.8 million, an increase of $43.9 million or 42.3%, and Other Consumer Electronics product sales declined were $43.3 million as compared to $45.7 million, a decline of $2.3 million or 5.1%. Biometrics segment net sales in the Fiscal 2022 six-month period were $0.5 million as compared to $0.4 million in the comparable Fiscal 2021 six-month period, an increase of $0.1 million or 27.2%. The gross margin in the Fiscal 2022 six-month period was 26.4% as compared to 29.0% in the Fiscal 2021 six-month period, a decline of 260 basis points, and a $15.8 million improvement in gross profit. Automotive Electronics segment gross margin of 25.4% as compared to 19.6%, up 580 basis points. Consumer Electronics segment gross margin of 26.7% as compared to 32.1%, down 540 basis points. Biometrics segment gross margins of 25.5% as compared to negative gross margin of -6.1%. Total operating expenses in the Fiscal 2022 six-month period were $77.0 million as compared to $57.6 million in the comparable Fiscal 2021 six-month period, an increase of $19.4 million. Within this and for the same six-month periods ended August 31, 2021 and August 31, 2020: Selling expenses increased by $5.5 million. General and administrative expenses increased by $6.3 million. Engineering and technical support expenses increased by $4.9 million. Acquisition costs increased by $2.7 million. The Company reported an operating loss in the Fiscal 2022 six-month period of $3.1 million as compared to operating income of $0.4 million in the comparable Fiscal 2021 six-month period. Total other income, net, for the six-month period ended August 31, 2021, was $4.5 million as compared to total other income, net, of $1.4 million for the six-month period ended August 31, 2020, an improvement of $3.1 million. Within this and for the same six-month periods ended August 31, 2020 and August 31, 2021: Interest and bank charges declined by $0.7 million. Equity in income of equity investee increased by $2.0 million. Other, net increased by $0.4 million. Net income attributable to VOXX International Corporation in the Fiscal 2022 six-month period was $3.0 million as compared to a net loss attributable to VOXX International Corporation of $0.9 million in the comparable Fiscal 2021 period. The Company reported basic and diluted net income per share attributable to VOXX International Corporation of $0.12 in the Fiscal 2022 six-month period as compared to a basic and diluted net loss per common share attributable to VOXX International Corporation of $0.04 in the comparable Fiscal 2021 period. Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") in the Fiscal 2022 six-month period was $9.6 million as compared to EBITDA in the Fiscal 2021 six-month period of $10.2 million. Adjusted EBITDA in the Fiscal 2022 six-month period was $14.6 million as compared to Adjusted EBITDA in the Fiscal 2021 six-month period of $10.7 million. Balance Sheet UpdateAs of August 31, 2021, the Company had cash and cash equivalents of $41.1 million as compared to $36.7 million as of May 31, 2021 and $59.4 million as of February 28, 2021. Total debt as of August 31, 2021, was $7.7 million as compared to $7.0 million as of May 31, 2021 and $7.1 million as of February 28, 2021. The increase in total debt is related to a Euro asset-based lending credit facility related to VOXX Germany. Total long-term debt, net of debt issuance costs as of August 31, 2021 was $5.2 million as compared to $5.3 million as of May 31, 2021 and $6.0 million as of February 28, 2021. Conference Call InformationVOXX International Corporation will be hosting its conference call and webcast on Wednesday, October 13, 2021, at 10:00 a.m. Eastern. Interested parties can participate by visiting www.voxxintl.com and clicking on the webcast in the Investor Relations section or via teleconference using the information below. Toll-free number: 877-303-9079 / International number: 970-315-0461 / Conference ID: 1156805 A webcast and teleconference replay will be available approximately one hour after the completion of the call. Replay Information Replay number: 855-859-2056 / International replay number: 404-537-3406 / Conference ID: 1156805 Non-GAAP MeasuresEBITDA and Adjusted EBITDA are not financial measures recognized by GAAP. EBITDA represents net income (loss) attributable to VOXX International Corporation, computed in accordance with GAAP, before interest expense and bank charges, taxes, and depreciation and amortization. Adjusted EBITDA represents EBITDA adjusted for stock-based compensation expense, acquisition costs, certain non-routine legal and professional fees, and life insurance proceeds. Depreciation, amortization, and stock-based compensation are non-cash items. We present EBITDA and Adjusted EBITDA in this Form 10-Q because we consider them to be useful and appropriate supplemental measures of our performance. Adjusted EBITDA helps us to evaluate our performance without the effects of certain GAAP calculations that may not have a direct cash impact on our current operating performance. In addition, the exclusion of certain costs or gains relating to certain events allows for a more meaningful comparison of our results from period-to-period. These non-GAAP measures, as we define them, are not necessarily comparable to similarly entitled measures of other companies and may not be an appropriate measure for performance relative to other companies. EBITDA and Adjusted EBITDA should not be assessed in isolation from, are not intended to represent, and should not be considered to be more meaningful measures than, or alternatives to, measures of operating performance as determined in accordance with GAAP. About VOXX International CorporationVOXX International Corporation (NASDAQ: VOXX) has grown into a leader in Automotive Electronics and Consumer Electronics, with emerging Biometrics technology to capitalize on the increased need for advanced security. Over the past several decades, with a portfolio of approximately 35 trusted brands, VOXX has built market-leading positions in in-vehicle entertainment, automotive security, reception products, a number of premium audio market segments, and more. VOXX is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and many of the world's leading automotive manufacturers. For additional information, please visit our website at www.voxxintl.com. Safe Harbor StatementExcept for historical information contained herein, statements made in this release constitute forward-looking statements and thus may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statements. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to the: risk factors described in the Company's annual report on Form 10-K for the fiscal year ended February 28, 2021, and other filings made by the Company from time to time with the SEC. The factors described in such SEC filings include, without limitation: the impact of the COVID-19 outbreak on the Company's results of operations, the Company's ability to realize the anticipated results of its business realignment; cybersecurity risks; risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the automotive electronics, consumer electronics and biometrics businesses; our relationships with key suppliers and customers; ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaOct 12th, 2021

Cheniere Energy (LNG) is a Top-Ranked Value Stock: Should You Buy?

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage. Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.Zacks Premium also includes the Zacks Style Scores.What are the Zacks Style Scores?Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.The Style Scores are broken down into four categories:Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.How Style Scores Work with the Zacks RankThe Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.That's where the Style Scores come in.You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.Stock to Watch: Cheniere Energy (LNG)Houston, TX-based Cheniere Energy Inc. is primarily engaged in businesses related to liquefied natural gas (or LNG) through its two business segments: LNG terminal; and LNG and natural gas marketing. The company, through its controlling interest in Cheniere Energy Partners L.P., owns and operates the Sabine Pass LNG terminal in Louisiana – North America’s first large-scale liquefied gas export facility. Furthermore, Cheniere Energy owns and operates the 94-mile Creole Trail Pipeline – an interconnect between the Sabine Pass receiving terminal and the downstream markets – through its subsidiary.LNG is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 34.08; value investors should take notice.Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2021. The Zacks Consensus Estimate has increased -$0.39 to $2.98 per share. LNG boasts an average earnings surprise of 4.4%.With a solid Zacks Rank and top-tier Value and VGM Style Scores, LNG should be on investors' short list. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers 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 Cheniere Energy, Inc. (LNG): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksOct 12th, 2021

EV Roundup: General Motors (GM) Steals the Show With Important Updates

While General Motors (GM) generates the maximum buzz with its electrification strides, pure EV players like TSLA and NKLA also draw attention with major announcements. The electric vehicle (EV) revolution is speeding up, with companies leaving no stone unturned to establish a strong foothold in this domain. Legacy automakers are stepping up e-mobility investments and setting ambitious targets to electrify their fleet. To this end, U.S. auto giant General Motors GM hogged the maximum limelight last week with the announcement of various strategic agreements to step up its e-mobility game.It entered into a strategic agreement with Wolfspeed to develop and supply silicon carbide power device solutions for the automaker’s future EV programs. The automaker also signed a non-binding memorandum of understanding with GE Renewable Energy to evaluate the opportunities for enhancing supplies of heavy and light rare earth materials as well as magnets. A secure, sustainable and resilient local supply chain for EV materials is the key to achieving General Motors’ vision of an all-electric future. (General Motors Strikes Deals With Wolfspeed and GE)General Motors also set the stage for battery tech innovation with the announcement of establishing a new research facility in Michigan. The facility — named Wallace Battery Innovation Center — will help the U.S. auto giant to speed up the manufacture, and commercialization of long-range and more affordable EVs. The capability to build large-format, prototype lithium-metal battery cells would be the main attraction of the new facility. Also, it is expected to manufacture batteries with energy density within 600-1200 watt-hours per liter. That translates to a range of around 500-600 miles on a single recharge, up from 400 miles initially claimed by the company for its Ultium battery architecture. (General Motors' New Battery Lab to Step Up EV Strides)In the Investor Day event held last week, General Motors stated that it projects annual EV revenues to scale from $10 billion in 2023 to $90 billion by the decade-end. The firm’s own modular battery platform, the Ultium Drive system, will aid in the transition to an all-electric portfolio down the road. The array of Ultium-powered EVs will include popular models, including a $30,000 Chevrolet crossover, Buick crossovers, Chevrolet trucks, GMC Hummer EV and Cadillac Lyriq crossover EV. The company will also offer an electric version of GMC’s Sierra pickup truck. Other Key Stories of the Week1.Tesla TSLA increased the price of both the Model 3 Standard Range Plus and Performance. The price of the base rear-wheel drive Model 3 Standard Range Plus is hiked to $41,990 from $39,990. The starting price of the Model 3 Performance has also been increased from $56,990 to $57,990, while the price of the Model 3 Long Range remains unaltered at $49,990. The Model Y Long Range got a price bump from $52,990 to $54,990. The higher-level Model Y Performance is now priced at $61,990 compared with the earlier price of $60,990. Meanwhile, at its annual shareholder meeting on Oct 7, Tesla CEO Elon Musk announced the decision to shift the company’s headquarters to Austin, TX from Palo Alto, CA. (Tesla Raises Model 3 & Y Prices, Moves Headquarters to Texas)2. BYD Co., Ltd. BYDDY joined forces with Levo Mobility — a joint venture between vehicle-to-grid (V2G) specialist Nuvve, and capital investors Stonepeak and Evolve — for the deployment of 5000 electrified fleets in the United States over the next five years. The alliance seeks to integrate Nuvve’s V2G proprietary technology into a variety of BYD’s vehicle mix including transit buses and coaches, last-mile delivery vehicles, school buses, tractors as well as refuse trucks. Nuvve would also offer related charging infrastructure, and energy maintenance and other services to customers with no upfront costs. Levo plans to purchase up to 5,000 medium and heavy-duty V2G-enabled electric vehicles via a preferred financing partnership with BYD. (BYD & Levo Tie Up for Electrification of U.S. Fleets)3. Allison Transmission ALSN is ramping up the development of its electrification technology for integration into the U.S. Army’s ground combat vehicle fleet, which includes tracked Infantry Fighting Vehicles and the Main Battle Tank. Allison will be working on an end-to-end development of a motor/generator and inverter system to be attached to a tracked vehicle transmission in coordination with the Army’s Ground Vehicle Systems Center. Allison’s portfolio of defense electrification also offers the Transmission Integral Generator, which has been developed jointly with Leonardo DRS and has qualified in the stringent testing procedures of the Ground Vehicle Systems Center. (Allison to Offer E-Transmission Solutions to US Army Fleet)4. Nikola NKLA inked a deal with TC Energy for the construction and operation of large-scale hydrogen production centers in the United States and Canada. The collaboration is aimed at creating the infrastructure necessary to supply low-cost, low-carbon hydrogen at volume. Also, both the firms intend to build hubs in major geographic regions to expedite the adoption of heavy-duty zero-emission fuel cell electric vehicles (FCEVs) and hydrogen throughout industrial segments. The primary goal of the partnership is to build hubs capable of generating more than 150 tons of hydrogen daily across heavily trafficked truck corridors in order to meet Nikola's anticipated requirement of hydrogen to fuel Class 8 FCEVs over the next five years.5. Stellantis STLA announced plans to invest $229 million in three plants in Indiana in order to accelerate the development of EVs. The investment will revamp three Kokomo plants in Indiana to produce electrified, eight-speed transmissions and retain 662 jobs. The next-generation transmissions can be integrated into internal combustion, mild hybrid or plug-in hybrid vehicles. This is in sync with the automaker's strategy of producing a mix of traditional combustion engine vehicles, hybrid vehicles and all-electric vehicles in a quest to attain 40% low-emission vehicle sales in the United States by 2030. In another development, Stellantis’ Alfa Romeo intends to roll out a new model each year until 2026, starting with the Tonale SUV next year. Further, starting from 2027, all Alfa Romeo new vehicles would be electric vehicles.Price PerformanceThe following table shows the price movement of some of the major EV players over the past week and six-month period.Image Source: Zacks Investment ResearchIn the past six months, all stocks have decreased, apart from Tesla, XPeng and Li Auto. Lordstown bore the maximum brunt, with shares declining 54.4%. The past week also displayed a mixed price trend, with Lordstown Motors being the worst performer and Li Auto registering the maximum gains.What’s Next in the Space?Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers 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 General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report Byd Co., Ltd. (BYDDY): Free Stock Analysis Report Nikola Corporation (NKLA): Free Stock Analysis Report Stellantis N.V. (STLA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 12th, 2021

J&J"s Stoffels, who managed development of the company"s COVID-19 shot, is retiring

Dr. Paul Stoffels, the executive running Johnson & Johnson's COVID-19 vaccine program, announced he will retire at the end of the year, the company said Tuesday. As J&J's chief scientific officer and vice chair of the executive committee, Stoffels is in charge of the company's research and product pipeline. He previously ran J&J's pharmaceuticals business. J&J CEO Alex Gorsky announced in August that he is stepping down at the end of 2021. J&J's stock is down 1.0% for the year, while the broader S&P 500 has gained 16.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 12th, 2021

Futures Rebound From Overnight Slide As Oil Keeps Rising

Futures Rebound From Overnight Slide As Oil Keeps Rising US equity-index futures erased earlier declines, rebounding from a loss of as much as 0.8% helped by the start of the European session and easing mounting concerns about stagflation from rising energy prices, signs of widening regulatory scrutiny by China, and the upcoming third-quarter earnings which is expected to post a sharply slower pace of growth and beats than recent record quarters. At 730am ET, Dow e-minis were up 5 points, or 0.1%, S&P 500 e-minis were up 7.25 points, or 0.16%, and Nasdaq 100 e-minis were up 46.75points, or 0.31%. Oiil rose 0.3% to $83.86/bbl while the dollar dipped and 10Y yield drifted back under 1.60%. Gains in tech stocks kept Nasdaq futures afloat on Tuesday, while energy names rose as Brent resumed gains, trading around $84/bbl on expectations that a power crisis from Asia to Europe will lift demand and tighten global balances. Higher oil prices and supply chain disruptions have set off alarm bells for businesses and consumers ahead of the third-quarter reporting season that kicks off on Wednesday with JPMorgan results.  "We believe that market participants could stay concerned over high energy prices translating into further acceleration in inflation, and thereby faster tightening by major central banks," said Charalambos Pissouros, head of research at JFD Group. In the pre-market, Tesla rose 0.7% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago. Oil firms including Exxon Mobil and Chevron Corp gained 0.1% and 0.3%, respectively, as Brent crude hit a near-three year high on energy crunch fears. Here are the notable movers: China’s Internet sector is one of the “most undervalued” in Morningstar’s coverage, says Ivan Su, an analyst, adding that Tencent (TCEHY US) and Netease (NTES US) are top picks MGM Resorts (MGM US) rises 2% in U.S. premarket trading after stock was upgraded to outperform from neutral and price target more than doubled to a Street-high $68 at Credit Suisse Quanterix (QTRX US) jumped 20% in Monday postmarket trading after the digital-health company announced that its Simoa phospho-Tau 181 blood test has been granted breakthrough device designation by the U.S. FDA as an aid in diagnostic evaluation of Alzheimer’s disease Relay Therapeutics (RLAY US) fell 7% in Monday postmarket trading after launching a $350 million share sale via Goldman Sachs, JPMorgan, Cowen, Guggenheim Securities Westwater Resources (WWR US) rose as much as 26% in Monday postmarket trading after its board of directors approved construction of the first phase of a production facility in Alabama for battery ready graphite products TechnipFMC (FTI US) in focus after co. was awarded a substantial long-term charter and services contract by Petrobras for the pipelay support vessel Coral do Atlântico Fastenal, which was one of the first companies to report Q3 earnings, saw its shares fall 2.4% in premarket trading on Tuesday, after the industrial distributor said the Covid-related boost was fading. The company said growth in the quarter was slightly limited by either slower expansion or contraction in sales of certain products related to the pandemic, when compared to the previous year quarter. While there was an uptick in sales of certain Covid-related supplies, the unit price of many products was down significantly, the company said in a statement.  Third-quarter sales and profit were in line with the average analyst estimate "While investors want to believe the narrative that stock markets can continue to move higher, this belief is bumping up against the reality of how the continued rise in energy prices, as well as supply-chain pressures, are likely to impact company profit margins,” said Michael Hewson, chief market analyst at CMC Markets in London. In Europe, losses led by basic resources companies and carmakers outweighed gains for utilities and tech stocks, pulling the Stoxx Europe 600 Index down 0.1%. Metals miner Rio Tinto was among the worst performers, dropping 2.7%. European equities climbed off the lows having lost over 1% in early trade. Euro Stoxx 600 was down -0.35% after dropping as much as 1.3% initially, led by basic resources companies and carmakers outweighed gains for utilities and tech stocks. The DAX is off 0.3%, FTSE 100 underperforms in a quiet morning for news flow. Miners, banks and autos are the weakest sectors after China reported a sharp drop in auto sales; utilities, tech and real estate post modest gains. European tech stocks slide, with the Stoxx Tech Index dropping as much as 1.4% in third straight decline, as another broker downgrades TeamViewer, while Prosus and chip stocks come under pressure. TeamViewer shares fall as much as 5.1% after Deutsche Bank downgrades the remote software maker to hold from buy following recent guidance cut. Asian stocks fell, halting a three-day rally as uncertainty over earnings deepened amid elevated inflation, higher bond yields and the risk of a widening Chinese crackdown on private industry. The MSCI Asia Pacific Index slid as much as 1.2%, led by technology and communication shares. Alibaba plunged 3.9% following a rally over the past week, while Samsung Electronics tumbled to a 10-month low after at least five brokers slashed their price targets, as China’s power crisis is seen worsening supply-chain disruptions. “Given the run-up in tech so far, it’s not difficult for investors to harvest profits first before figuring out if techs can maintain their growth when yields rise,” said Justin Tang, head of Asian research at United First Partners. Shares in Hong Kong and the mainland were among the worst performers after Chinese authorities kicked off an inspection of the nation’s financial regulators and biggest state-run banks in an effort to root out corruption. The MSCI Asia Pacific Index is down 12% from a February peak, with a global energy crunch lifting input prices and the debt crisis at China Evergrande Group weighing on the financial sector. Investors are waiting to see how this impacts earnings, according to Jun Rong Yeap, a market strategist at IG Asia.  “Increasing concerns on inflation potentially being more persistent have started to show up,” he said. “This comes along with the global risk-off mood overnight, as investors look for greater clarity from the earnings season on how margins are holding up, along with the corporate economic outlook.” Japan’s Topix index also fell, halting a two-day rally, amid concerns about a global energy crunch and the possibility of a widening Chinese crackdown on private industry. The Topix fell 0.7% to 1,982.68 at the 3 p.m. close in Tokyo, while the Nikkei 225 declined 0.9% to 28,230.61. SoftBank Group Corp. contributed the most to the Topix’s drop, decreasing 2.4%. Out of 2,181 shares in the index, 373 rose and 1,743 fell, while 65 were unchanged. “Market conditions were improving yesterday, but pushing for higher prices got tough when the Nikkei 225 approached its key moving averages,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.  The Nikkei’s 75-day moving average is about 28,500 and the 200-day moving average is about 28,700, so some investors were taking profits, he said. Japan’s spot power price increased to the highest level in nine months, as the global energy crisis intensifies competition for generation fuel before the winter heating season. In FX, the Bloomberg Dollar Spot Index reversed an overnight gain as the greenback slipped against all of its Group-of-10 peers. Risk sensitive Scandinavian currencies led gains, followed by the New Zealand and Australian dollars. The pound was little changed while speculators ramped up wagers on sterling’s decline at the fastest rate in more than two years, Commodity Futures Trading Commission data show, further breaking the link between anticipated rate increases and currency gains. The yen steadied after three days of declines. The Turkish lira extended its slide to a record low after President Recep Tayyip Erdogan hinted at a possible military offensive into neighboring Syria. Fixed-income was quiet by recent standards: Treasury futures were off lows of the day, improving as S&P 500 futures pare losses during European morning, and as cash trading resumed after Monday’s holiday. The 10Y yield dipped from 1.61% to 1.59% after hitting 1.65% based on futures pricing on Monday, but the big mover was on the front end, where 2-year yields climbed as much as 4bps to 0.35% the highest level since March 2020 reflecting increased expectations for Fed rate hikes, as Treasury cash trading resumed globally. Two coupon auctions during U.S. session -- of 3-and 10-year notes -- may weigh on Treasuries however.  Treasury and gilt curves bull-flatten with gilts outperforming at the back end. Bunds have a bull-steepening bias but ranges are narrow. Peripheral spreads tighten a touch with long-end Italy outperforming peers. In commodities, Crude futures drift higher in muted trade. WTI is up 0.25% near $80.70, Brent trades just shy of a $84-handle. Spot gold remains range-bound near $1,760/oz. Base metals are mixed with LME lead and nickel holding small gains, copper and aluminum in the red. Looking at the day ahead, central bank speakers include the Fed’s Vice Chair Clarida,Bostic and Barkin, as well as theECB’s President Lagarde, Makhlouf, Knot, Villeroy, Lane and Elderson. Data highlights from the US include the JOLTS job openings for August, and the NFIB’s small business optimism index for September which came in at 99.1, below last month's 100.1. The IMF will be releasing their latest World Economic Outlook. Market Snapshot S&P 500 futures little changed at 4,351.50 STOXX Europe 600 down 0.6% to 454.90 MXAP down 0.9% to 194.41 MXAPJ down 1.0% to 635.42 Nikkei down 0.9% to 28,230.61 Topix down 0.7% to 1,982.68 Hang Seng Index down 1.4% to 24,962.59 Shanghai Composite down 1.2% to 3,546.94 Sensex little changed at 60,149.85 Australia S&P/ASX 200 down 0.3% to 7,280.73 Kospi down 1.4% to 2,916.38 German 10Y yield fell 6 bps to -0.113% Euro up 0.1% to $1.1565 Brent Futures up 0.4% to $84.01/bbl Gold spot up 0.2% to $1,757.84 U.S. Dollar Index little changed at 94.29 Top Overnight Headlines from Bloomberg The EU drew record demand for its debut green bond, in the sector’s biggest-ever offering. The bloc registered more than 135 billion euros ($156 billion) in orders Tuesday for a sale of 12 billion euros of securities maturing in 2037 Investors are dumping negative-yielding debt at the fastest pace since February as concerns about inflation and reduced central bank stimulus propel global interest rates higher French President Emmanuel Macron unveiled a 30-billion-euro ($35 billion) plan to create the high-tech champions of the future and reverse years of industrial decline in the euro area’s second-largest economy British companies pushed the number of workers on payrolls above pre-coronavirus levels last month, an indication of strength in the labor market that may embolden the Bank of England to raise interest rates. As the Biden administration and governments around the world celebrate another advance toward an historic global tax accord, an obscure legal question in the U.S. threatens to tear it apart Chinese property developers are suffering credit rating downgrades at the fastest pace in five years, as a recent slump in new-home sales adds to concerns about the sector’s debt woes German investor confidence declined for a fifth month in October, adding to evidence that global supply bottlenecks and a surge in inflation are weighing on the recovery in Europe’s largest economy Social Democrat Olaf Scholz’s bid to succeed Angela Merkel as German chancellor is running into its first test as tensions emerge in talks to bridge policy differences with the Greens and pro-business Free Democrats A more detailed breakdown of global markets from Newsquawk Asian equity markets traded mostly lower following the indecisive mood stateside where the major indices gave back initial gains to finish negative amid lingering inflation and global slowdown concerns, with sentiment overnight also hampered by tighter Beijing scrutiny and with US equity futures extending on losses in which the Emini S&P retreated beneath its 100DMA. ASX 200 (-0.3%) was subdued as weakness in energy, tech and financials led the declines in Australia and with participants also digesting mixed NAB business survey data. Nikkei 225 (-0.9%) was on the backfoot after the Japan Center for Economic Research noted that GDP contracted 0.9% M/M in August and with retailers pressured after soft September sales updates from Lawson and Seven & I Holdings, while the KOSPI (-1.4%) was the laggard on return from holiday with chipmakers Samsung Electronics and SK Hynix subdued as they face new international taxation rules following the recent global minimum tax deal. Hang Seng (-1.4%) and Shanghai Comp. (-1.3%) adhered to the downbeat picture following a continued liquidity drain by the PBoC and with Beijing scrutinising Chinese financial institutions’ ties with private firms, while default concerns lingered after Evergrande missed yesterday’s payments and with Modern Land China seeking a debt extension on a USD 250mln bond to avoid any potential default. Finally, 10yr JGBs eked minimal gains amid the weakness in stocks but with demand for bonds limited after the recent subdued trade in T-note futures owing to yesterday’s cash bond market closure and following softer results across all metrics in the 30yr JGB auction. Top Asian News Alibaba Stock Revival Halted on Concerns of Rising Bond Yields Iron Ore Rally Pauses as China Steel Curbs Cloud Demand Outlook China’s Star Board Sees Rough Start to Fourth Quarter: ECM Watch Citi Lists Top Global Stock Picks for ‘Disruptive Innovations’ European bourses kicked the day off choppy but have since drifted higher (Euro Stoxx 50 -0.4%; Stoxx 600 Unch) as the region remains on standby for the next catalyst, and as US earnings season officially kicks off tomorrow – not to mention the US and Chinese inflation metrics and FOMC minutes. US equity futures have also nursed earlier losses and reside in relatively flat territory at the time of writing, with broad-based performance seen in the ES (Unch), NQ (+0.2%), RTY (-0.2%), YM (Unch). From a technical standpoint, some of the Dec contracts are now hovering around their respective 100 DMAs at 4,346 for the ES, 14,744 for the NQ, whilst the RTY sees its 200 DMA at 2,215, and the YM topped its 21 DMA at 34,321. Back to Europe, cash markets see broad-based downside with the SMI (-0.1%) slightly more cushioned amid gains in heavyweight Nestle (+0.6%). Sectors kicked off the day with a defensive bias but have since seen a slight reconfiguration, with Real Estate now the top performer alongside Food & Beverages, Tech and Healthcare. On the flip side, Basic Resources holds its position as the laggard following yesterday's marked outperformance and despite base metals (ex-iron) holding onto yesterday's gains. Autos also reside at the bottom of the bunch despite constructive commentary from China's Auto Industry Body CAAM, who suggested the chip supply shortage eased in China in September and expected Q4 to improve, whilst sources suggested Toyota aims to make up some lost production as supplies rebound. In terms of individual movers, GSK (+2.3%) shares spiked higher amid reports that its USD 54bln consumer unit has reportedly attracted buyout interest, according to sources, in turn lifting the FTSE 100 Dec future by 14 points in the immediacy. Elsewhere, easyJet (-1.9%) gave up its earlier gains after refraining on guidance, and despite an overall constructive trading update whereby the Co. sees positive momentum carried into FY22, with H1 bookings double those in the same period last year. Co. expects to fly up to 70% of FY19 planned capacity in FY22. In terms of commentary, the session saw the Germany ZEW release, which saw sentiment among experts deteriorate, citing the persisting supply bottlenecks for raw materials and intermediate products. The release also noted that 49.1% of expects still expect inflation to rise further in the next six months. Heading into earnings season, experts also expect profits to go down, particularly in export-tilted sectors such a car making, chemicals and pharmaceuticals. State-side, sources suggested that EU antitrust regulators are reportedly likely to open an investigation into Nvidia's (+0.6% Pre-Mkt) USD 54bln bid from Arm as concessions were not deemed sufficient. Top European News Soybeans Near 10-Month Low as Supply Outlook Expected to Improve EasyJet Boosts Capacity as Travel Rebound Gathers Pace Currency Traders Are Betting the BOE Is About to Make a Mistake Citi Lists Top Global Stock Picks for ‘Disruptive Innovations’ In FX, the Buck has reclaimed a bit more lost ground in consolidatory trade rather than any real sign of a change in fundamentals following Monday’s semi US market holiday for Columbus Day and ahead of another fairly light data slate comprising NFIB business optimism and JOLTS. However, supply awaits the return of cash Treasuries in the form of Usd 58 bn 3 year and Usd 38 bn 10 year notes and Fed commentary picks up pace on the eve of FOMC minutes with no less than five officials scheduled to speak. Meanwhile, broad risk sentiment has taken a knock in wake of a late swoon on Wall Street to give the Greenback and underlying bid and nudge the index up to fresh post-NFP highs within a 94.226-433 band. NZD/AUD - A slight change in fortunes down under as the Kiwi derives some comfort from the fact that the Aud/Nzd has not breached 1.0600 to the upside and Nzd/Usd maintaining 0.6950+ status irrespective of mixed NZ electric card sales data, while the Aussie takes on board contrasting NAB business conditions and confidence readings in advance of consumer sentiment, with Aud/Usd rotating either side of 0.7350. EUR/CAD/GBP/CHF/JPY - All rangy and marginally mixed against their US counterpart, as the Euro straddles 1.1560, the Loonie meanders between 1.2499-62 with less fuel from flat-lining crude and the Pound tries to keep sight of 1.3600 amidst corrective moves in Eur/Gbp following a rebound through 0.8500 after somewhat inconclusive UK labour and earnings data, but hardly a wince from the single currency even though Germany’s ZEW survey missed consensus and the institute delivered a downbeat assessment of the outlook for the coming 6 months. Elsewhere, the Franc continues to hold within rough 0.9250-90 extremes and the Yen is striving to nurse outsize losses between 113.00-50 parameters, with some attention to 1 bn option expiries from 113.20-25 for the NY cut. Note also, decent expiry interest in Eur/Usd and Usd/Cad today, but not as close to current spot levels (at the 1.1615 strike in 1.4 bn and between 1.2490-1.2505 in 1.1 bn respectively). SCANDI/EM - The Nok and Sek have bounced from lows vs the Eur, and the latter perhaps taking heed of a decline in Sweden’s registered jobless rate, but the Cnh and Cny remain off recent highs against the backdrop of more Chinese regulatory rigour, this time targeting state banks and financial institutions with connections to big private sector entities and the Try has thrown in the towel in terms of its fight to fend off approaches towards 9.0000 vs the Usd. The final straw for the Lira appeared to be geopolitical, as Turkish President Erdogan said they will take the necessary steps in Syria and are determined to eliminate threats, adding that Turkey has lost its patience on the attacks coming from Syrian Kurdish YPG controlled areas. Furthermore, he stated there is a Tal Rifaat pocket controlled by YPG below Afrin and that an operation could target that area which is under Russian protection. However, Usd/Try is off a new ATH circa 9.0370 as oil comes off the boil and ip came in above forecast. In commodities, WTI and Brent front-month futures are choppy and trade on either side of the flat mark in what is seemingly some consolidation and amid a distinct lack of catalysts to firmly dictate price action. The complex saw downticks heading into the European cash open in tandem with the overall market sentiment at the time, albeit the crude complex has since recovered off worst levels. News flow for the complex has also remained minimal as eyes now turn to any potential intervention by major economies in a bid to stem the pass-through of energy prices to consumers heading into winter. On that note, UK nat gas futures have been stable on the day but still north of GBP 2/Thm. Looking ahead, the weekly Private Inventory data has been pushed back to tomorrow on account of yesterday's Columbus Day holiday. Tomorrow will also see the release of the OPEC MOMR and EIA STEO. Focus on the former will be on any updates to its demand forecast, whilst commentary surrounding US shale could be interesting as it'll give an insight into OPEC's thinking on the threat of Shale under President Biden's "build back better" plan. Brent Dec trades on either side of USD 84/bbl (vs prev. 83.13-84.14 range) whilst WTI trades just under USD 81/bbl after earlier testing USD 80/bbl to the downside (USD 80-80.91/bbl range). Over to metals, spot gold and silver hold onto modest gains with not much to in the way of interesting price action, with the former within its overnight range above USD 1,750/oz and the latter still north of USD 22.50/oz after failing to breach the level to the downside in European hours thus far. In terms of base metals, LME copper is holding onto most of yesterday's gains, but the USD 9,500/t mark seems to be formidable resistance. Finally, Dalian and Singapore iron ore futures retreated after a four-day rally, with traders citing China's steel production regaining focus. US Event Calendar 6am: Sept. SMALL BUSINESS OPTIMISM 99.1,  est. 99.5, prior 100.1 10am: Aug. JOLTs Job Openings, est. 11m, prior 10.9m 11:15am: Fed’s Clarida Speaks at IIF Annual Meeting 12:30pm: Fed’s Bostic Speaks on Inflation at Peterson Institute 6pm: Fed’s Barkin Interviewed for an NPR Podcast DB's Jim Reid concludes the overnight wrap It’s my wife’s birthday today and the big treat is James Bond tomorrow night. However, I was really struggling to work out what to buy her. After 11.5 years together, I ran out of original ideas at about year three and have then scrambled round every year in an attempt to be innovative. Previous innovations have seen mixed success with the best example being the nearly-to-scale oil portrait I got commissioned of both of us from our wedding day. She had no idea and hated it at the closed eyes big reveal. It now hangs proudly in our entrance hall though. Today I’ve bought her a lower key gamble. Some of you might know that there is a US website called Cameo that you can pay famous people to record a video message for someone for a hefty fee. Well, all her childhood heroes on it were seemingly too expensive or not there. Then I saw that the most famous gymnast of all time, Nadia Comăneci, was available for a reasonable price. My wife idolised her as a kid (I think). So after this goes to press, I’m going to wake my wife up with a personalised video message from Nadia wishing her a happy birthday, saying she’s my perfect ten, and praising her for encouraging our three children to do gymnastics and telling her to keep strong while I try to get them to play golf instead. I’m not sure if this is a totally naff gift or inspired. When I purchased it I thought the latter but now I’m worried it’s the former! My guess is she says it’s naff, appreciates the gesture, but calls me out for the lack of chocolates. Maybe in this day and age a barrel of oil or a tank of petrol would have been the most valuable birthday present. With investor anticipation continuing to build ahead of tomorrow’s CPI release from the US, yesterday saw yet another round of commodity price rises that’s making it increasingly difficult for central banks to argue that inflation is in fact proving transitory. You don’t have to be too old to remember that back in the summer, those making the transitory argument cited goods like lumber as an example of how prices would begin to fall back again as the economy reopened. But not only have commodity aggregates continued to hit fresh highs since then, but lumber (+5.49%) itself followed up last week’s gains to hit its highest level in 3 months. Looking at those moves yesterday, it was a pretty broad-based advance across the commodity sphere, with big rises among energy and metals prices in particular. Oil saw fresh advances, with WTI (+1.47%) closing above $80/bbl for the first time since 2014, whilst Brent Crude (+1.53%) closed above $83/bbl for the first time since 2018. Meanwhile, Chinese coal futures (+8.00%) hit a record after the flooding in Shanxi province that we mentioned in yesterday’s edition, which has closed 60 of the 682 mines there, and this morning they’re already up another +6.41%. So far this year, the region has produced 30% of China’s coal supply, which gives you an idea as to its importance. And when it came to metals, aluminium prices (+3.30%) on the London Metal Exchange rose to their highest level since the global financial crisis, whilst Iron Ore futures in Singapore jumped +7.01% on Monday, and copper was also up +2.13%. The one respite on the inflation front was a further decline in natural gas prices, however, with the benchmark European future down -2.73%; thus bringing its declines to over -47% since the intraday high that was hit only last Wednesday. With commodity prices seeing another spike and inflation concerns resurfacing, this proved bad news for sovereign bonds as investors moved to price in a more hawkish central bank reaction. Yields in Europe rose across the continent, with those on 10yr bunds up +3.0bps to 0.12%, their highest level since May. The rise was driven by both higher inflation breakevens and real rates, and leaves bund yields just shy of their recent post-pandemic closing peak of -0.10% from mid-May. If they manage to surpass that point, that’ll leave them closer to positive territory than at any point since Q2 2019 when they last turned negative again. It was a similar story elsewhere, with 10yr yields on OATs (+2.6bps), BTPs (+3.9bps) and gilts (+3.1bps) likewise reaching their highest level in months. The sell-off occurred as money markets moved to price in further rate hikes from central banks, with investors now expecting a full 25 basis point hike from the Fed by the end of Q3 2022. It seems like another era, but at the start of this year before the Georgia Senate race, investors weren’t even pricing in a full hike by the end of 2023, whereas they’re now pricing in almost 4. So we’ve come a long way over 2021, though pre-Georgia the consensus CPI forecast on Bloomberg was just 2.0%, whereas it now stands at 4.3%, so it does fit with the story of much stronger-than-expected inflation inducing a hawkish response. Yesterday’s repricing came alongside a pretty minimal -0.15% move in the Euro versus the dollar, but that was because Europe was also seeing a similar rates repricing. Meanwhile, the UK saw its own ramping up of rate hike expectations, with investors pricing in at least an initial 15bps hike to 0.25% happening by the December meeting in just two months’ time. Overnight in Asia, stocks are trading in the red with the KOSPI (-1.46%), Shanghai Composite (-1.21%), Hang Seng (-1.20%), the Nikkei (-0.93%) and CSI (-0.82%) all trading lower on inflation concerns due to high energy costs and aggravated by a Wall Street Journal story that Chinese President Xi Jinping is increasing scrutiny of state-run banks and big financial institutions with inspections. Furthermore, there were signs of a worsening in the Evergrande debt situation, with the firm missing coupon payments on a 9.5% note due in 2022 and a 10% bond due in 2023. And there were fresh indications of a worsening situation more broadly, with Sinic Holdings Group Co. saying it doesn’t expect to pay the principal or interest on a $250m bond due on October 18. Separately in Japan, Prime Minister Fumio Kishida said on Monday that he will raise pay for public workers and boost tax breaks to firms that boost wages to try and improve the country’s wealth distribution. Back to yesterday, and the commodity rally similarly weighed on thin-volume equity markets, though it took some time as the S&P 500 had initially climbed around +0.5% before paring back those gains to close down -0.69%. Before the late US sell-off, European indices were subdued, but the STOXX 600 still rose +0.05%, thanks to an outperformance from the energy sector (+1.49%), and the STOXX Banks Index (+0.13%) hit a fresh two-year high as the sector was supported by a further rise in yields. On the central bank theme, we heard from the ECB’s chief economist, Philip Lane, at a conference yesterday, where he said that “a one-off shift in the level of wages as part of the adjustment to a transitory unexpected increase in the price level does not imply a trend shift in the path of underlying inflation.” So clearly making a distinction between a more persistent pattern of wage inflation, which comes as the ECB’s recent forward guidance commits them to not hiking rates “until it sees inflation reaching two per cent well ahead of the end of its projection horizon and durably for the rest of the projection horizon”, as well as having confidence that “realised progress in underlying inflation is sufficiently advanced to be consistent with inflation stabilising at two per cent over the medium term”. Turning to the political scene, Brexit is likely to be in the headlines again today as the UK’s Brexit negotiator David Frost gives a speech in Lisbon where he’s expected to warn that the EU’s proposals on the Northern Ireland Protocol are insufficient. That comes ahead of a new set of proposals that are set to come from the EU tomorrow, with the two sides disagreeing on the extent of border controls required on trade from Northern Ireland with the rest of the UK. Those controls were put in place as part of the Brexit deal to prevent a hard border being put up between Northern Ireland and the Republic of Ireland, whilst also preserving the integrity of the EU’s single market. But the UK’s demands for adjustments have been met with opposition by the EU, and speculation has risen that the UK could trigger Article 16, which allows either side to take unilateral safeguard measures, if the protocol’s application “leads to serious economic, societal or environmental difficulties that are liable to persist, or to diversion of trade”. On the data front, there wasn’t much data to speak of with the US holiday, but Italy’s industrial production contracted by -0.2% in August, in line with expectations. To the day ahead now, andcentral bank speakers include the Fed’s Vice Chair Clarida,Bostic and Barkin, as well as theECB’s President Lagarde, Makhlouf, Knot, Villeroy, Lane and Elderson. Data highlights from the US include the JOLTS job openings for August, and the NFIB’s small business optimism index for September. In Europe, there’s also UK unemployment for August and the German ZEW Survey for October. Lastly, the IMF will be releasing their latest World Economic Outlook.     Tyler Durden Tue, 10/12/2021 - 07:56.....»»

Category: personnelSource: nytOct 12th, 2021

A new deal with Takeda could mean up to $3.6 billion in milestone payments for Poseida Therapeutics

Shares of Poseida Therapeutics Inc. were up 9.6% in premarket trading on Tuesday after the company said it signed a research and licensing agreement with Takeda Pharmaceutical Co. Ltd. to study and commercialize up to eight gene therapies. Takeda will pay Poseida $45 million upfront and could pay up to $125 million in preclinical milestones. If all milestones for six therapies are met, Takeda will pay $2.7 billion to Poseida; and if all milestones are met for the eight therapies, then Takeda will pay $3.6 billion in total payments. Poseida's stock has dropped 34.4% in 2021, while the S&P 500 is up 16.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 12th, 2021

ExxonMobil scales up plastic recycling in Texas

ExxonMobil said Monday it'll build its first large-scale plastic waste recycling facility in Baytown, Texas to go into operation at the end of 2022. The facility will rank among North America's largest plastic waste recycling facilities, with capacity of 30,000 metric tons of plastic waste per year. ExxonMobil Chemical Co. president Karen McKee said the company is scaling up recycling after it set up a smaller, temporary facility that's producing commercial volumes of polymers. The oil giant plans to build about 500,000 metric tons of advanced recycling capacity globally over the next five years including a site in Notre Dame de Gravenchon, France, plus it's assessing sites in the Netherlands, the U.S. Gulf Coast, Canada, and Singapore. It's also set up a joint venture with Agilyx Corp. and Cyclyx International LLC to boost its recycling efforts. Shares of Exxon Mobile are up about 51% this year, compared to a rise of nearly 17% by the S&P 500 . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 11th, 2021

Protagonist Therapeutics shares soar after FDA lifts clinical hold on its experimental cancer drug

Shares of Protagonist Therapeutics Inc. soared 87.0% in premarket trading on Monday after the company said the Food and Drug Administration had lifted a clinical hold on clinical trials of rusfertide, its experimental blood cancer treatment. The hold was put into place over concerns of skin tumors from animal research and a deeper examination of four new cancer cases that emerged during a clinical trial. No safety concerns were identified during the hold. The investigational treatment is expected to move forward into a Phase 3 clinical trial for polycythemia vera in the first quarter of next year. SVB Leerink analyst Joseph Schwartz told investors that lifting the clinical hold is a "very welcomed surprise, given the hold was disclosed less than a month ago, and it was unclear how long it would last." Protagonist's stock is down 9.5% so far this year, while the broader S&P 500 is up 16.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchOct 11th, 2021