Advertisements


GaN Systems, USI partner to accelerate GaN adoption in EVs

GaN Systems has announced a strategic partnership with Universal Scientific Industrial (USI), a subsidiary of ASE Technology, to co-develop GaN power modules for the electric vehicle market......»»

Category: topSource: digitimesNov 25th, 2021

Bruker (BRKR) Assay to Offer Reliable Omicron Variant Detection

Bruker's (BRKR) FluoroType SARS-CoV-2 varID Q assay is anticipated to provide reliable detection of the novel Omicron (B.1.1.529) variant of SARS-CoV-2. Bruker Corporation BRKR announced a major update related to its FluoroType SARS-CoV-2 varID Q real-time multiplexed polymerase chain reaction (PCR) assay. The company noted that this CE-IVD marked assay reliably detects all SARS-CoV-2 variants and is expected to provide a clear indication of Omicron (B.1.1.529). It is worth mentioning that the Omicron has been recently declared a ‘variant of concern’ by the World Health Organization (WHO).More specifically, the FluoroType SARS-CoV-2 varID Q assay, based on Bruker´s proprietary LiquidArray technology, can detect and quantify all major SARS-CoV-2 variants. This assay simultaneously identifies the S-gene mutations Del69-70 and N501Y, which are anticipated to be clear indications of the novel Omicron (B.1.1.529) variant. The FluoroType SARS-CoV-2 varID Q also offers a viral load result according to WHO standard (IU/ml), CP values, and easy mutation interpretation.Few Words on FluoroType SARS-CoV-2 varID QThe FluoroType SARS-CoV-2 varID Q test contains reagents for 96 reactions and is verified for use with nasopharyngeal and oropharyngeal swabs. In less than 3-4 hours, sample extraction, amplification and PCR results are available. This assay can be run on the FluoroCycler XT PCR instrument after sample preparation with the GenoXtract fleXT system, which offers fully automated extraction and PCR setup. The FluoroSoftware analyzes results from the FluoroCycler XT, delivering easy-to-read results and direct indication of mutations.Image Source: Zacks Investment ResearchThe FluoroType SARS-CoV-2 varID Q assay enables users to run a screening tool for detecting SARS-CoV-2 viral load and get an early indication of the Omicron variant.More on the NewsBruker also confirmed that the Omicron variant (B.1.1.529) is expected to be detected by their entire range of other FluoroType SARS-CoV-2 assays. These assays include CE-IVD assays such as FluoroType SARS-CoV-2 plus, FluoroType SARS-CoV-2 varID Q and FluoroType SARS-CoV-2/Flu/RSV. However, these assays are not available for sale in the United States. Another notable assay in this range involves the FluoroType SARS-CoV-2 evo Research Use Only (RUO), which is not available for use in clinical diagnostics procedures.Bruker’s SARS-CoV-2 assays are CE-IVD-labeled per the European IVD Directive 98/79/EC and are primarily sold in European Markets. Notably, the FluoroType SARS-CoV-2 plus is registered and sold in various African markets, including South Africa.Industry ProspectsPer a report by Fortune Business Insights published in GlobeNewswire, the global COVID-19 diagnostics market is expected to see a CAGR of 7.9% during 2020-2027. Factors such as the uncontrolled spread of coronavirus, and several efforts by medical and regulatory bodies to encourage innovation and accelerate research in developing coronavirus detection tools are expected to drive the market.Given the market prospects, Bruker’s FluoroType SARS-CoV-2 varID Q assay, which detects all SARS-CoV-2 variants and expectedly the novel Omicron (B.1.1.529) variant, bears significant market potential.Notable DevelopmentsIn November 2021, Bruker acquired MOLECUBES NV-- a dynamic innovator in benchtop preclinical nuclear molecular imaging (NMI) systems. The combination of Bruker's preclinical imaging technologies and global footprint with MOLECUBES' modular benchtop CUBES systems will offer a more extensive NMI offering, thereby accelerating preclinical NMI adoption at academic medical centers and biopharma firms worldwide.In October 2021, Bruker secured orders for two 1.1 GHz NMR Avance Neo systems from National Science Foundation (NSF)-funded academic institutions in the United States. The Network for Advanced NMR (NAN) was established with funds from NSF and it connects three institutions, including the University of Connecticut School of Medicine, the University of Georgia and the University of Wisconsin–Madison.Share Price PerformanceThe stock has outperformed its industry over the past year. It has grown 51.5% compared to the industry’s growth of 34.5%.Zacks Rank and Other Key PicksCurrently, Bruker carries a Zacks Rank #2 (Buy).Other top-ranked stocks in the broader medical space are Varex Imaging Corporation VREX, McKesson Corporation MCK and NextGen Healthcare, Inc. NXGN, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Varex has a long-term earnings growth rate of 5%. The company surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 115.3%.Varex has outperformed the industry it belongs to in the past year. VREX has gained 73.7% versus the industry’s 8% fall.McKesson has a long-term earnings growth rate of 8.9%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.9%, on average.McKesson has outperformed its industry over the past year. MCK has gained 22% versus the 7.4% industry rise.NextGen has a long-term earnings growth rate of 8.5%. The company surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 16%.NextGen has outperformed its industry over the past year. NXGN has declined 8.7% versus the industry’s 41.5% fall. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>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 McKesson Corporation (MCK): Free Stock Analysis Report Bruker Corporation (BRKR): Free Stock Analysis Report VAREX IMAGING (VREX): Free Stock Analysis Report NEXTGEN HEALTHCARE, INC (NXGN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksDec 3rd, 2021

GaN Systems, USI partner to accelerate GaN adoption in EVs

GaN Systems has announced a strategic partnership with Universal Scientific Industrial (USI), a subsidiary of ASE Technology, to co-develop GaN power modules for the electric vehicle market......»»

Category: topSource: digitimesNov 25th, 2021

Here"s Why You Should Add Omnicell (OMCL) To Your Portfolio

Investors are optimistic about Omnicell (OMCL) owing to its better-than-expected results in the third quarter and robust segmental performance. Omnicell, Inc. OMCL is well poised for growth in the coming quarters, backed by its strong segmental performance and notable developments in Autonomous Pharmacy. The company exited the third quarter with better-than-expected results. It’s recent acquisition of FDS Amplicare, in an effort to strengthen its Advanced Services portfolio, appears promising. A strong solvency position also bodes well for the company. Omnicell is well on track to achieve its 2025 targets, driven by a number of factors that raise our optimism.Over the past year, the Zacks Rank #2 (Buy) stock has gained 71.3% compared with 35% fall of the industry and 32.4% rise of the S&P 500.The renowned medical device solutions provider has a market capitalization of $8.05 billion. Its third-quarter 2021 earnings beat the Zacks Consensus Estimate by 18.7%.Over the past five years, the company registered earnings growth of 19.6%, ahead of the industry’s 6.1% rise and the S&P 500’s 2.8% increase. The long-term expected growth rate is estimated to be 16% compared with the industry’s growth projection of 20% and the S&P 500’s projected 11.7% growth.Image Source: Zacks Investment ResearchLet’s delve deeper.Factors At PlayQ3 Upsides: Omnicell exited the third quarter with better-than-expected revenues and earnings. Growth across both operating segments contributed to the top line. Omnicell added three net new long-term sole source customers in the third quarter, bringing the total to 251 of the top three hundred health systems. The company also became the medication management partner of choice for three prestigious healthcare providers — a major Northeastern Health system of current Omnicell customer, one of the nation's leading children's hospitals and a Texas-based health system. Omnicell’s strong performance in the quarter and year to date is reflective of the robust demand for its medication management and adherence automation solutions. Expansion in both the margins was another upside. The raised adjusted EPS guidance for 2021 also buoys optimism.2025 Roadmap Looks Impressive: In terms of its 2025 financial roadmap, Omnicell is targeting to reach $1.9 billion to $2 billion in total revenues by 2025 — a 14% to 15% compounded total annual revenue growth rate from 2021 to 2025. Over the same period of time, it is also targeting an expansion of non-GAAP EBITDA margin from 21% in 2021 to 25% by 2025, representing a margin expansion of approximately 400 bps. According to the company, its strong position in the market, growing customer base and strategic focus on innovation will help it achieve these goals.Autonomous Pharmacy Model Holds Potential: Omnicell has an elaborate vision for the Autonomous Pharmacy. We are upbeat about the recent introduction of Omnicell One, which utilizes cloud-based data and predictive prescriptive analytics to provide real-time visibility with actionable insights and workflow optimization recommendations. These recommendations are expected to help improve clinical, financial and operational outcomes across the pharmacy supply chain. Another development in autonomous pharmacy is the acquisition of FDS Amplicare in September. With this acquisition, Omnicell's EnlivenHealth division’s offerings have broadened to help pharmacies to measurably improve patient health outcomes, while enabling new clinical services and expanding their growth and profitability opportunities.Strong Solvency Position: Omnicell exited the third quarter of 2021 with cash and cash equivalents of $482 million. Meanwhile, the quarter-end total debt came at $483 million. Although the third quarter’s total debt was much higher than the corresponding cash and cash equivalent level, the company has no short-term-payable debt on its balance sheet. This is good news in terms of the company’s solvency position, particularly during the time of a global pandemic when it is facing major manufacturing and supply halts globally.DownsidesEscalating Costs: Omnicell continues to battle escalating costs arising from its strategies to drive top-line growth, including portfolio expansion, acquisitions and further penetration in the medication adherence market. Also, the company continues to expect higher costs in the upcoming quarters stemming from integration of new acquisitions and the expenses related to the XT series and IV workflow.Tough Hospital Spending Trends: Hospitals continue to remain cautious with respect to capital spending in the current economic environment. Thus, a resilient hospital capital expenditure environment might adversely affect the adoption of Omnicell’s solutions. Moreover, the reimbursement mix has also affected the endowments income, further affecting hospital spending capabilities. While the company has won some new deals in larger hospitals, the market is still susceptible to the economy and credit conditions.Estimate TrendOmnicell has been witnessing a positive estimate revision trend for 2021. Over the past 90 days, the Zacks Consensus Estimate for its earnings has moved north by 2.2% to $3.77.The Zacks Consensus Estimate for fourth-quarter 2021 revenues is pegged at $310.1 million, suggesting a 24.4% rise from the year-ago reported number.Key PicksA few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. AMN, GlaxoSmithKline plc GSK and NextGen Healthcare, Inc. NXGN. You can see the complete list of today’s Zacks #1 Rank stocks here.AMN Healthcare, carrying a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in all of the trailing four quarters, delivering an average surprise of 19.5%.AMN Healthcare has outperformed its industry over the past year. AMN has gained 91.1% compared with the industry’s 47.5% fall.GlaxoSmithKline, carrying a Zacks Rank #1, has a long-term earnings growth rate of 5.8%. The company surpassed earnings estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 15.3%.GlaxoSmithKline has underperformed its industry over the past year. GSK has gained 13.2% compared with the industry’s 19.9% rise.NextGen, sporting a Zacks Rank #2, has a long-term earnings growth rate of 8.5%. The company surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 16%.NextGen has outperformed the industry it belongs to in the past year. NXGN has declined 0.3% versus the industry’s 35% fall. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GlaxoSmithKline plc (GSK): Free Stock Analysis Report Omnicell, Inc. (OMCL): Free Stock Analysis Report AMN Healthcare Services Inc (AMN): Free Stock Analysis Report NEXTGEN HEALTHCARE, INC (NXGN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 22nd, 2021

DOB suffers a smart attack as inventors deliver on tech challenge

The New York City Department of Buildings has announced the winning entries for the 2021 “Hack the Building Code” Innovation Challenge. The five cutting-edge winning ideas could help shape the future of New York City’s built environment. “New York City is at its best when we embrace big ideas,” said Buildings... The post DOB suffers a smart attack as inventors deliver on tech challenge appeared first on Real Estate Weekly. The New York City Department of Buildings has announced the winning entries for the 2021 “Hack the Building Code” Innovation Challenge. The five cutting-edge winning ideas could help shape the future of New York City’s built environment. “New York City is at its best when we embrace big ideas,” said Buildings Commissioner Melanie E. La Rocca. “This innovation challenge is a reminder that we should never stop striving to think of ways to improve our industry, and I congratulate each one of the winners, who are providing unique and compelling ideas on how we can build a better city for all of us.”  “New York City continues to be home to a strong community of innovators committed to identifying creative solutions and sustainable practices,” said Robinson Hernandez, Executive Director, Urban Tech Hub @ Company Ventures. “The Urban Tech Hub @ Company Ventures is proud to partner with the Department of Buildings to celebrate these pioneering startups whose innovations help tackle our city’s most pressing challenges.”  2021’s “Hack the Building Code” Innovation Challenge Winners:  ·         SafeRise – A standardized, reusable, and lockable barrier that could prevent worker and material falls in elevator and other shaft ways. Constructed of steel, the SafeRise barricades are designed with safety features to restrict access to only pre-approved construction workers.   ·         SiteSafety – Specific changes to the NYC Building Code to require horizontal safety netting to be installed every thirty feet in shaft way openings on active construction sites. The proposed change is intended to catch falling construction workers and prevent work site fatalities.     ·         noya – New direct air capture technology to retrofit existing cooling towers to capture carbon emissions from building HVAC systems. With a compact design to fit on NYC rooftops, this innovative idea could accelerate the city’s transition to carbon neutrality. ·         Future Insight and AoRa Development – A digital platform that could expedite the building permit approval process via the use of building information modeling (BIM) drawings that could be checked automatically against existing building codes and development regulations.    ·         Kwant.ai – An interactive network of smart badges, sensors, and mobile-phone alerts to track construction workers’ locations. This technology could enable automated headcounts, store and display site safety/training certificates and other compliance documents, alert site personnel when falls or other safety hazards occur, and collect data for predictive analytics.   In addition to our five winners, the Department of Buildings and its panel of judges gave honorable mentions to submissions from SkillSignal and TracFlo, which also provided innovative ideas on how to improve safety in the construction industry.   The five winners will receive technical support and assistance from the DOB in introducing their technology to NYC’s design and construction industries. The Department does not offer contracts to the winners of the “Hack the Building Code” Innovation Challenge, and they will not receive monetary compensation for their participation in the challenge.   Now in its second year, the “Hack the Building Code” Innovation Challenge was first launched in 2020 in partnership with the NYC Economic Development Corporation and the Urban Tech Hub @ Company Ventures. This challenge invites the public to submit ideas on the best ways to improve how we design, construct and maintain our city of over 1.1 million buildings. This year’s winners include innovations to prevent construction worker falls, capture carbon emissions, expedite the building-permit approval process and closely track activity on construction sites.    The 2021 “Hack the Building Code” Innovation Challenge received submissions from a wide spectrum of design firms, technology companies, organizations, and individuals, with ideas ranging from improving worker safety to streamlining our city’s development process. Winners were selected by members of DOB’s in-house Innovation Committee alongside a special panel of judges comprised of experts from the private sector, choosing winners based on their projects feasibility, impact and innovation. The innovation competition winners will be showcased at the Department’s Digital 2021: Safety, Innovation, & Sustainability Conference.  You can watch the presentations live today, Thursday, November 18 at 11 a.m. by registering here. The post DOB suffers a smart attack as inventors deliver on tech challenge appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyNov 18th, 2021

Hyzon Motors, Inc. Announces Third Quarter 2021 Financial and Operational Results with Significant Milestones Achieved and Building Momentum Across Asia, Europe and North America

ROCHESTER, N.Y., Nov. 12, 2021 /PRNewswire/ -- Recent Business Highlights Received the first two purchase orders, for 62 trucks in total, pursuant to terms of the previously announced MOU to supply Shanghai Hydrogen Hongyun Automotive Announced a new strategic partnership with TC Energy, formerly TransCanada Corporation, for a broad, multi-year collaboration intended to leverage TRP's energy infrastructure across North America to accelerate the hydrogen supply and infrastructure build-out in the United States and Canada; the agreement covers planned co-investment by Hyzon and TC Energy in hydrogen production hubs and collaborative hydrogen demand creation Announced a joint demonstration project with Zhangjiagang Haili Terminal Co., Ltd., a subsidiary of Fortune Global 500 company Sha Steel Group, the 4th largest steel company and the largest private steel enterprise in the world Signed a non-binding MoU with ITOCHU to jointly develop hydrogen supply chain strategies, as well as model customer projects for the deployment of Hyzon fuel cell electric vehicles and fuel cell technology in the mining sector Hyzon channel partner Hiringa in New Zealand announced an equity investment from Mitsui & Co in their refueling network, in addition to funding from the New Zealand Government Two Australian Federal Government agencies, the Clean Energy Finance Corporation and Australian Renewable Energy Agency, announced funding support for the deployment of Hyzon ultra-heavy trucks for customer Ark Energy in Queensland, Australia Third Quarter Highlights Reported a robust cash balance of $498 million as of September 30, 2021 Delivered Hyzon vehicles and recorded first vehicle revenues during the quarter as anticipated, despite the challenging supply chain environment Advanced Hyzon's core technology which is expected to expand the Company's competitive advantages and achieve significant cost savings in vehicle assembly through our continued investments in innovation Continued the buildout of the Hyzon management team with the appointments of Jiajia Wu as Chief Accounting Officer and Patrick Griffin as President of Vehicle Operations Business Outlook Hyzon reaffirms its forecast for 85 vehicles shipped before December 31, 2021, and expects to have Hyzon vehicles on the road in Asia, Australia, Europe and North America by the end of the year U.S. manufacturing facilities are well underway, and both the Rochester, NY and Bolingbrook, IL facilities are now anticipated to be in full production by the end of the first half of 2022 Hyzon is well positioned to capitalize on the impending uptake in zero emission commercial vehicle solutions in light of recent developments surrounding the COP 26 Climate Summit, and through US federal and state policy developments pursuing carbon abatement Hyzon Motors, Inc. (NASDAQ:HYZN) ("Hyzon" or the "Company"), a leading global supplier of zero-emission fuel cell electric heavy vehicles, today announced third quarter 2021 financial and operational results. "During the third quarter we continued to execute on our long-term strategy and build momentum across our entire platform," said Mr. Craig Knight, Chief Executive Officer of Hyzon. "The Hyzon strategy remains unchanged: we are squarely focused on being at the forefront of the rapidly expanding hydrogen mobility industry. This means delivering our vehicles to customers across the globe, while simultaneously expanding access to cost efficient, green hydrogen for our customers.  We have laid out our path to optimize our performance through ongoing R&D, strategic investment and partnerships in the highest value segments across Vehicle, Fuel and Service.  Continued execution of that path is expected to allow us to expand margin across all segments of the value chain over time while, in parallel, we expand our high caliber team and place our commercial vehicles with leading global customers today.  "This strategy helped Hyzon continue our sequential improvement in both financial and operational results," Mr. Knight continued.  "During the third quarter of 2021, the Company generated revenue of $1 million and continues to mobilize its teams across Europe, Asia and North America to capture the increasing momentum for hydrogen in the commercial vehicle market.  As this momentum continues – Hyzon trucks are expected to be on the road in four continents by the end of the year, with two vehicles delivered during the third quarter 2021.  With the well-reported supply chain disruptions around the world, no industry is immune, and we have experienced operational challenges, delaying our backlog conversion.  However, our global footprint has allowed us to leverage our strategic partnerships and to meet customer demands for zero emission heavy commercial vehicles despite these challenges. "In addition, the Company is well positioned, from a liquidity standpoint, to execute our plan, with $498.0 million in cash on the balance sheet as of the quarter end, and we are committed to maintaining substantial capital allocation to research, development, and technology investments. This commitment is further evidenced by newly filed patent applications to advance our core technologies, which is expected to achieve significant future cost savings in assembling zero emission vehicles, and further expand our competitive advantages.  I am extremely proud of our team's dedication and execution towards 'Zero Emissions with Zero Compromise' as we deliver real solutions today. All of our efforts have enabled our customers to validate our longstanding thesis – that hydrogen is the ideal fuel for use in heavy duty, high-utilization commercial applications," Mr. Knight concluded. Expansion of Hydrogen Supply and Hub Strategy "The rapidly growing interest in, and commitment to, hydrogen adoption in the commercial mobility segment has provided tailwinds for our efforts to expand the hydrogen supply network and decarbonize the commercial vehicle industry alongside our strategic partners," said Parker Meeks, Chief Strategy Officer.  "Hyzon is not only committed to providing zero-emission mobility solutions to the commercial market but also is actively engaged in building and fostering a clean hydrogen supply ecosystem with leading partners from feedstocks through production, dispensing and financing.  This is further underpinned by our recent announcement with TC Energy to collaborate on development, construction, operation, and ownership of hydrogen production facilities across North America. The collaboration has the goal of hydrogen delivery to fuel cell heavy duty vehicles as soon as 2022, producing up to 20 tonnes of hydrogen per day at each hub. "Previous announcements of Hyzon's partnerships with TotalEnergies, ReCarbon and Raven SR, and other leading partners, also supports buildout of the complete hydrogen production and refueling ecosystem in each major region of our operations, ideally complementing our back-to-base model and near-term fleet deployments.  We are excited about our future-focused customers driving forward with their decarbonization plans, and we see the ability to deliver and scale below-diesel-parity clean hydrogen close to fleet operations in the very near term as clearly differentiating Hyzon in terms of cost, carbon intensity, and speed to market," concluded Mr. Meeks. Third Quarter 2021 Financial and Operational Results For the third quarter ending September 30, 2021, the Company reported total operating expenses of $50.6 million and net income attributable to Hyzon of $32.4 million, resulting in diluted earnings per share of $0.13. Net income included non-cash gains from the change in fair value of earnout liability of $73.6 million and private placement warrant liability of $7.6 million. Third quarter operating expenses were comprised of $4.8 million in research and development and $44.8 million in selling, general and administrative expenses. Selling, general and administrative expenses were primarily made up of $26.7 million in stock-based compensation, $13.4 million of which was triggered by a key executive retirement arrangement, with an additional $13.1 million related to earnout equity awards pursuant to the Business Combination. Also included were salary and related expenses of $3.3 million, and approximately $11.0 million in expenses related to buildout of the Company's corporate infrastructure, along with legal and accounting costs associated with the Business Combination. For the prior year third quarter ending September 30, 2020, the Company reported a net loss of $0.6 million, resulting in earnings per share of nil. For the nine months ended September 30, 2021, the Company reported total operating expenses of $63.6 million and net income attributable to Hyzon of $14.8 million resulting in diluted earnings per share of $0.07. Net income included non-cash gains from the change in fair value of earnout liability of $73.6 million and private placement warrant liability of $7.6 million. For the prior year period January 21, 2020 (Inception) through September 30, 2020, the Company reported a net loss attributable to Hyzon of $0.9 million, resulting in diluted loss per share of $0.01. As of September 30, 2021, the Company had $498.0 million in cash. At the end of the third quarter, the Company had 247,500,505 shares of common stock outstanding. Non-GAAP Financial Measures The Company reported EBITDA of $31.7 million and $18.9 million for the three and nine months ended September 30, 2021, respectively. The Company reported Adjusted EBITDA of $(15.2) million and $(27.1) million for the three and nine months ended September 30, 2021, respectively. Adjusted EBITDA adjustments are primarily driven by (a) non-cash items from change in fair value of earnout liability of $73.6 million and private placement warrant liability of $7.6 million, for a total of $81.2 million; (b) charges from an executive transition arrangement of $13.9 million and Business Combination transaction expenses of $6.5 million and (c) non-cash items from stock-based compensation of $13.8 million and $14.7 million for the three and nine months ended September 30, 2021. Conference Call Information The Hyzon management team will host a conference call to discuss its third quarter 2021 financial results on Friday, November 12, 2021, at 8:30 a.m. Eastern Time. The call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of Hyzon's website at www.hyzonmotors.com. An archive of the webcast will be available for a period of time shortly after the call on the Investor Relations section of Hyzon's website as well. About Hyzon Motors Inc. Hyzon is a global leader in fuel cell electric mobility, with US operations in the Rochester, Chicago and Detroit areas, and international operations in the Netherlands, China, Singapore,.....»»

Category: earningsSource: benzingaNov 12th, 2021

Tesla’s “Rounding Error” Of Sales Improvement

Stanphyl Capital’s commentary for the month ended October 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). Q3 2021 hedge fund letters, conferences and more The Biggest Bubble In Modern Stock Market History We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which now has a completely absurd diluted […] Stanphyl Capital’s commentary for the month ended October 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more The Biggest Bubble In Modern Stock Market History We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which now has a completely absurd diluted market cap of $1.25 trillion. Perhaps this ridiculousness is best shown graphically, courtesy of @MichalStupavsky and @AlbertBridgeCap; note that both these graphics were created hundreds of billions of dollars ago in Tesla market cap, and when viewing them please keep in mind that Tesla’s share of the world auto market is only around 1.1% (yes, one POINT one percent): And yet at some point when momentum-riding Tesla bulls (or, for that matter, bears) least expect it, TSLA will recouple with “reality,” and that’s why I continue to maintain a core short position. So here’s “reality”… Tesla has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of electric car technology, while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably. Excluding sunsetting emission credit sales Tesla is barely profitable. Growth in sequential unit demand for Tesla’s cars is at a crawl relative to expectations. Elon Musk is a pathological liar who under the terms of his SEC settlement cannot deny having committed securities fraud. Tesla's Q3 Deliveries In October Tesla reported Q3 deliveries of 241,000 cars, 18,000 more than Wall Street’s “official” consensus and around 11,000 more than the 230,000-delivery “whisper number.” These (and even the entire 40,000-unit gain over Q2) are rounding errors for an auto company trading at even one-tenth of Tesla’s valuation. If in any quarter GM or VW or Toyota sold 2.04 million vehicles instead of 2 million or 1.96 million, no one would pay the slightest bit of attention to the difference. Seeing as Tesla is now being valued at nearly sixteen GMs, it’s time to start looking at its relatively tiny numerical sequential sales growth, rather than Wall Street’s sell-side hype of “percentage off a small base.” In other words, if you want to be valued at a giant multiple of “the big boys,” you should be treated as a big boy. In fact, a favorite hype story from Tesla fans has been “the China market” and its “record” number of 73,659 Q3 deliveries there. Let’s put this in perspective: this was only around 4000 more cars than in Q1 and only around 11,000 more than in Q2—these are “growth” rounding errors. And that “record” Q3 China quarter gave it just 1.5% of the overall passenger vehicle market and just 11% of the BEV market, and it had so much excess capacity that it exported tens of thousands of cars to Europe. And now in October, Tesla sales in China reportedly fell back to just 12,000 units. Remember when Musk claimed that Tesla’s Chinese domestic demand alone would need multiple factories to satisfy? Ah, the good old days! One likely way Tesla was able to post an upside surprise in Q3 deliveries was because competitors’ production (and thus inventories) were at the lowest level in decades due to the massive chip shortage, thereby eliminating a number of “Tesla alternatives.” Meanwhile, Tesla had record production because Musk (a notorious “corner-cutter”) was apparently willing to substitute untested, non-auto-grade chips for the more durable chips he couldn’t get; please see my Twitter post about this. Rounding Error As for the demand implications of the new U.S. EV tax credit (assuming it passes in its current form—which, by the way, benefits GM & Ford’s union-made cars with a $12,500 per-car credit vs. just $8000 for each Tesla), please see my Twitter thread as to why—relative to Tesla’s insane valuation and its fans’ expectations—it will likely result in just another “rounding error” of sales improvement. In its Q3 earnings report (released in October), Tesla claimed it made around $1.3 billion in free cash flow (defined as operating cash flow less capex). However, this number appears to be entirely due to working capital adjustments and not from the business itself. Let me explain: Tesla claimed operating cash flow of around $3.2 billion for the quarter, but this came with the benefit of accounts payable increasing by $702 million, receivables declining by $167 million and accrued liabilities up by $665 million while (detrimentally) prepaid expenses increased by $144 million. Adjusting for that massive net working capital benefit, operating cash flow was only a bit over $1.8 billion and with capex at $1.8 billion it means Tesla’s Q3 free cash flow was essentially zero; i.e., it’s a horrible business. Also in its Q3 report Tesla claimed it made around $1.45 billion in net income after excluding $279 million of pure-profit emission credit sales (excluded because they’ll almost entirely disappear some time next year when other automakers will have enough EVs of their own), and after adding back a $50 million Bitcoin write-down. However, that earnings number also includes what I estimate to be Tesla’s usual $300 million or so in unsustainably low warranty provisioning, and after adjusting for that and assuming no other fraudulent accounting, Tesla only earned around $1.06/share, which annualizes to $4.24. An auto industry PE multiple of 10x would thus make TSLA worth around $42/share (admittedly, more than the “$0” I once expected), while a “growth multiple” of 20x would value it at $84, which is almost a 93% discount to October’s closing price of $1114. And before you tell me that a 100% premium to the industry’s PE ratio isn’t enough, keep in mind that—as noted earlier—Tesla’s sequential unit growth is an auto industry rounding error. In fact, one could argue that Tesla’s multiple should carry a discount, considering the massive legal and financial liabilities continually generated by its pathologically lying CEO. Meanwhile Tesla continues to sell (and book cash flow, if not accounting revenue from) its fraudulent & dangerous so-called “Full Self Driving.” In a sane regulatory environment Tesla having done this for five years now would be considered “consumer fraud,” and indeed the regulatory tide may finally be turning, as in August two U.S. Senators demanded an FTC investigation and in October the NHTSA appointed a harsh critic of this deadly product to advise on its regulation. (For all known Tesla deaths see TeslaDeaths.com.) Are major write-downs and refunds on the way, killing the company’s slight “claimed profitability”? Stay tuned! And remember, the 2021 overview from Guidehouse Insights rates Tesla dead last among autonomous competitors: Proprietary Battery Technology Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. And if new-format 4680 cells enter the market some time in 2022 (as is now expected), their manufacturers will gladly sell them to anyone. Meanwhile, the quality of the Model Y—is awful, and that car faces current (or imminent) competition from the much better built electric Audi Q4 e-tron, BMW iX3, Mercedes EQA, Volvo XC40 Recharge, Volkswagen ID.4, Ford Mustang Mach E, Nissan Ariya, Hyundai Ioniq 5 and Kia EV6. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2 and the premium version of Volkswagen’s ID.3 (in Europe), and later this year from the BMW i4, plus multiple local competitors in China. And in the high-end electric car segment worldwide the Audi e-tron and Porsche Taycan outsell the Models S & X (and the newly updated Tesla models with their dated exteriors and idiotic shifters & steering wheels won’t change this), while the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make the Tesla Model S look like a fast Yugo, while the extremely well reviewed new BMW iX does the same to the Model X. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, in May Ford formally introduced its terrific new all-electric F-150 Lightning which now has over 150,000 reservations, Rivian’s pick-up has gotten fantastic early reviews, and in January at CES GM will introduce its electric Silverado. Meanwhile, Tesla quality ranks 30th among 33 brands in the latest J.D. Power dependability survey… …and second-to-last in the latest Consumer Reports reliability survey: …while the most recent What Car? survey shows similar results with Tesla finishing #29 out of 31, and now quality is slipping in China. Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill, despite the NTSB condemning it. Elsewhere in safety, in 2020 the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So Here Is Tesla’s Competition In Cars (Note: These Links Are Regularly Updated)... Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Headlines VW's Electrified Future Volkswagen ID.4 Electric SUV Volkswagen ID 6 to arrive with 435-mile range in 2023 Volkswagen Aero B: new electric Passat equivalent spied VW’s Cupra brand counts on performance for Born EV Cupra, VW brand to get entry-level battery-powered cars Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch Audi previews long-range A6 e-tron EV Audi TT set to morph into all-electric crossover Hyundai Ioniq 5 Hyundai Ioniq 6 spotted ahead of 2022 launch Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis aims to go all-electric from 2025 Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class Mercedes EQS SUV takes shape Mercedes-Benz unveils EQE electric sedan with impressive 400-mile range Mercedes EQE SUV to rival BMW iX and Tesla Model X Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to offer EV versions of Explorer, Aviator, ‘rugged SUVs' Volvo Polestar 2 Volvo XC40 Recharge Volvo C40 electric sedan to challenge Tesla Model 3, VW ID3 Polestar 3 will be an electric SUV that shares its all-new platform with next Volvo XC90 Chevy updates, expands Bolt EV family as price drops Cadillac All-Electric Lyriq Available Spring 2022 GMC ALL-ELECTRIC SUPERTRUCK HUMMER EV GM to build electric Silverado in Detroit with estimated range of more than 400 miles GMC to launch electric Hummer SUV in 2023 GM will offer 30 all-electric models globally by 2025 GM Launches BrightDrop to Electrify the Delivery of Goods and Services Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan 2022 BMW iX1 electric SUV spied BMW 3-series EV coming Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Alfa Romeo is latest Stellantis brand to get all-electric future Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Citroen compact EV challenges VW ID3 on price Maserati to launch electric sports car Mini Cooper SE Electric Toyota's bZ4X EV gets 300-mile range, steer by wire; first of 7 BEVs by 2025 Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley converting to electric-only brand All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030 Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And In China... How VW Group plans to dominate China's EV market VW Goes Head-to-Head With Tesla in China With New ID.4 Crozz Electric SUV Volkswagen’s ID.3 EV to be produced by JVs with SAIC, FAW in 2021 2022 VW ID.6 Revealed With Room For Seven And Two Electric Motors China-built Audi e-tron rolls off production line in Changchun Audi Q2L e-tron debuts at Auto Shanghai Audi will build Q4 e-tron in China Audi Q5 e-tron Confirmed For China Audi in cooperation company for local electric car production with FAW FAW Hongqi starts selling electric SUV with 400km range for $32,000 FAW (Hongqi) to roll out 15 electric models by 2025 BYD goes after market left open by Tesla with four cheaper models for budget-conscious buyers BYD said to launch premium NEV brand ‘Dolphin’ in 2022 Top of Form Bottom of Form Daimler & BYD launch DENZA electric vehicle for the Chinese market Geely announces premium EV brand Zeekr Geely, Mercedes-Benz launch $780 million JV to make electric smart-branded cars Mercedes styled Denza X 7-seat electric SUV to hit market Mercedes ‘makes mark’ with China-built EQC BMW, Great Wall to build new China plant for electric cars BAIC Goes Electric, & Establishes Itself as a Force in China’s New Energy Vehicle Future BAIC BJEV, Magna ready to pour RMB2 bln in all-electric PV manufacturing JV Toyota, BYD will jointly develop electric vehicles for China Lexus to launch EV in China taking on VW and Tesla GAC Aion about to start volume production of 1,000-km range AION LX GAC Toyota to ramp up annual capacity by 400,000 NEVs GAC kicks off delivery of HYCAN 007 all-electric SUV Nio – Ready For Tomorrow Nio steps up plans for mass-market brand to compete with VW, Toyota Xpeng Motors sells multiple EV models SAIC-GM to build Ultium EV platform in Wuhan Chevrolet Menlo Electric Vehicle Launched in China Buick Launches VELITE 6 PLUS MAV Electric Vehicle in China Buick Velite 7 EV And Velite 6 PHEV Launch In China Dongfeng launches the all-electric Voyah  PSA to accelerate rollout of electrified vehicles in China SAIC, Alibaba-backed EV brand IM begins presale of first model L7 Hyundai Motor Transforming Chongqing Factory into Electric Vehicle Plant Polestar said to plan China showroom expansion to compete with Tesla Jaguar Land Rover's Chinese arm invests £800m in EV production Renault reveals series urban e-SUV K-ZE for China Renault & Brilliance detail electric van lineup for China Renault forms China electric vehicle venture with JMCG Honda to start sales of new EV-branded vehicles in China in 2022 Geely launches new electric car brand 'Geometry' – will launch 10 EVs by 2025 Geely, Foxconn form partnership to build cars for other automakers Fiat Chrysler, Foxconn Team Up for Electric Vehicles Baidu to create an intelligent EV company with automaker Geely Leapmotor starts presale of C11 electric SUV on Jan. 1 2021 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weltmeister Chery Seres Enovate China's cute Ora R1 electric hatch offers a huge range for less than US$9,000 Singulato JAC Motors releases new product planning, including many NEVs Seat to make purely electric cars with JAC VW in China Iconiq Motors Hozon Aiways Skyworth Auto Youxia CHJ Automotive begins to accept orders of Leading Ideal ONE Infiniti to launch Chinese-built EV in 2022 Human Horizons Chinese smartphone giant Xiaomi to launch electric car business with $10 billion investment Lifan Technology to roll out three EV models with swappable batteries in 2021 Here’s Tesla’s Competition In Autonomous Driving... Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Fiat Chrysler, Waymo expand self-driving partnership for passenger, delivery vehicles Waymo and Lyft partner to scale self-driving robotaxi service in Phoenix Volvo, Waymo partner to build self-driving vehicles Jaguar and Waymo announce an electric, fully autonomous car Renault, Nissan partner with Waymo for self-driving vehicles Cruise and GM Team Up with Microsoft to Commercialize Self-Driving Vehicles Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle Honda launching Level 3 autonomous cars Volkswagen moves ahead with Autonomous Driving R&D for Mobility as a Service Volkswagen teams up with Microsoft to accelerate the development of automated driving VW taps Baidu's Apollo platform to develop self-driving cars in China Ford's electric Mustang will offer hands-free driving technology in 2021 ARGO AI AND FORD TO LAUNCH SELF-DRIVING VEHICLES ON LYFT NETWORK BY END OF 2021 Hyundai and Kia Invest in Aurora Toyota, Denso form robotaxi partnership with Aurora Aptiv and Hyundai Motor Group complete formation of autonomous driving joint venture Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph Nvidia and Mercedes Team Up to Make Next-Gen Vehicles Daimler's heavy trucks start self-driving some of the way SoftBank, Toyota's self-driving car venture adds Mazda, Suzuki, Subaru Corp, Isuzu Daihatsu  Continental & NVIDIA Partner to Enable Production of Artificial Intelligence Self-Driving Cars Mobileye and Geely to Offer Most Robust Driver Assistance Features Mobileye Starts Testing Self-Driving Vehicles in Germany Mobileye and NIO Partner to Bring Level 4 Autonomous Vehicles to Consumers Lucid Chooses Mobileye as Partner for Autonomous Vehicle Technology AutoX, backed by Alibaba Nissan gives Japan version of Infiniti Q50 hands-free highway driving Hyundai to start autonomous ride-sharing service in Calif. Pony.ai raises $462 million in Toyota-led funding Baidu kicks off trial operation of Apollo robotaxi in Changsha Toyota to join Baidu's open-source self-driving platform Baidu, WM Motor announce strategic partnership for L3, L4 autonomous driving solutions Volvo will provide cars for Didi's self-driving test fleet BMW and Tencent to develop self-driving car technology together BMW, NavInfo bolster partnership in HD map service for autonomous cars in China GM Invests $300 M in Momenta to deliver self-driving technologies in China FAW Hongqi readies electric SUV offering Level 4 autonomous driving Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture Huawei teams up with BAIC BJEV, Changan, GAC to co-launch self-driving car brands GAC Aion, DiDi Autonomous Driving to co-develop driverless NEV model BYD partners with Huawei for autonomous driving Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars Xpeng releases autonomous features for highway driving Nuro Becomes First Driverless Car Delivery Service in California Deutsche Post to Deploy Test Fleet Of Fully Autonomous Delivery Trucks ZF autonomous EV venture names first customer Magna’s new MAX4 self-driving platform offers autonomy up to Level 4 Groupe PSA’s safe and intuitive autonomous car tested by the general public Mitsubishi Electric to Exhibit Autonomous-driving Technologies in New xAUTO Test Vehicle Apple acquires self-driving startup Drive.ai Motional to begin robotaxi testing with Hyundai Ioniq 5 in Los Angeles JD.com Delivers on Self-Driving Electric Trucks NAVYA Unveils First Fully Autonomous Taxi Fujitsu and HERE to partner on advanced mobility services and autonomous driving Here’s Where Tesla’s Competition Will Get Its Battery Cells... Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe How GM's Ultium Battery Will Help It Commit to an Electric Future Ultium (General Motors & LG joint venture) GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Stellantis, LG Energy Solution to form battery JV for N. American market Toyota to build U.S. battery plant Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Daimler Morrow Here’s Tesla’s Competition In Charging Networks... Electrify America is spending $2 billion building a high-speed U.S. charging network GM to distribute up to 10 chargers to each of its dealerships starting early 2022 GM, EVgo partner to expand U.S. charging network Circle K Owner Plans Electric-Car Charging Push in U.S., Canada 191 U.S. Porsche dealers are installing 350kw chargers ChargePoint to equip Daimler dealers with electric car chargers GM and Bechtel plan to build thousands of electric car charging stations across the US Ford introduces 12,000 station charging network, teams with Amazon on home installation Shell Plans To Deploy Around 500,000 Charging Points Globally By 2025 Petro-Canada Introduces Coast-to-Coast Canadian Charging Network Volta is rolling out a free charging network Ionity Europe E.ON and Virta launch one of the largest intelligent EV charging networks in Europe Volkswagen plans 36,000 charging points for electric cars throughout Europe Smatric has over 400 charging points in Austria Allego has hundreds of chargers in Europe PodPoint UK charging stations BP Chargemaster/Polar is building stations across the UK Instavolt is rolling out a UK charging network Fastned building 150kw-350kw chargers in Europe Aral To Install Over 100 Ultra-Fast Chargers In Germany Deutsche Telekom launches installation of charging network for e-cars Total to build 1,000 high-powered charging points at 300 European service-stations NIO teams up with China’s State Grid to build battery charging, swapping stations Volkswagen-based CAMS launches supercharging stations in China Volkswagen, FAW Group, JAC Motors, Star Charge formally announce new EV charging JV BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales BP, Didi Jump on Electric-Vehicle Charging Bandwagon Evie rolls out ultrafast charging network in Australia Evie Networks To Install 42 Ultra-Fast Charging Sites In Australia And Here’s Tesla’s Competition In Storage Batteries... Panasonic Samsung LG BYD AES + Siemens (Fluence) GE Bosch Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Schneider Electric Sonnen Kyocera Generac Kokam NantEnergy Eaton Nissan Tesvolt Kreisel Leclanche Lockheed Martin EOS Energy Storage ESS UET electrIQ Power Belectric Stem ENGIE Redflow Renault Primus Power Simpliphi Power redT Energy Storage Murata Bluestorage Adara Blue Planet Tabuchi Electric Aggreko Orison Moixa Powin Energy Nidec Powervault Kore Power Shanghai Electric Schmid 24M Ecoult Innolith LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor   Thanks and stay healthy, Mark Spiegel Updated on Nov 1, 2021, 11:19 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: valuewalkNov 1st, 2021

Bitcoin: A Second Chance For The Muslim World?

Bitcoin: A Second Chance For The Muslim World? Authored by Asif Shiraz via BitcoinMagazine.com, Bitcoin is the sound money that the Muslim world needs to accelerate into the future... The Ottoman suppression of the printing press is a poster child case of intellectual stagnation in the Muslim world. Although there was no outright ban, there is no denying of a massively missed opportunity here: A civilization’s failure to adopt a groundbreaking technological change happening right next door. In its golden age, this same civilization that gave the world universities and hospitals, optics and algebra, even a precursor to the printing press itself, got so left behind in the later acceptance of technology, that its very own holy book, the Quran, waited for its first mass publication almost 300 years after Johannes Gutenberg chugged out the printed Bible. THE DECLINE But Islam’s Genesis Block was entirely different in character: A spirited but sundry assemblage of women and men whose most remarkable trait was their openness to new ideas. The idea of one God in a multitude of divine contenders. The idea of one bitcoin in a multitude of shitcoins … oops... sorry... mixing up my chronology! So anyway, this fraternity of early Islam, along with its keen aspiration of ushering in a just social and economic order, is also remarkable in a novel way for its time: It represents a death cross of reason’s moving average overtaking that of intuition in religious history. Bringing intellectual inquiry at par with mystical experience, it paved the way for its scions to delve into scientific skepticism, empiricism and experimental inquiry, with Robert Briffault going so far as to say that “Roger Bacon was no more than one of the apostles of Muslim science and method.” But eventually, the music stopped, and the market corrected! There are many explanations for the downfall, most of them partially true, spanning decades and centuries, but if we want to point fingers, as human nature dictates, at some symbolic event, then it must be the Mongol destruction of the House of Wisdom, #SackOfBaghdad. In the age of manuscripts, so many books from Baghdad’s libraries were flung into the Tigris that a horse could walk across on them and the river ran black with scholars’ ink and red with the blood of martyrs. As the Muslim Ummah lost so many intellectuals and intellectual capital in this tumultuous period, its reaction has been, (understandably), like that of an intern finding herself in control of mission critical servers, where all the senior sys admins suddenly stepped down, died or disappeared. Your best reaction is this: I’m not touching this system, and the only commands I’ll ever execute are those handed down by the four illustrious system admins — founders of the established schools of jurisprudence. And so Islamic scholarship for hundreds of years has been in a maintenance mode. In Pakistan alone, over 12,000 Madrasa routinely teach the rules and regulations of exchanging gold and silver, centuries after its daily use has been replaced by fiat. SURVIVAL OF CORE TENETS But herein lies a wonderful irony. This code-freeze on innovation, which we otherwise disapprove of, did work to an extent as it was intended: It protected the core principles from being callously compromised or deliberately diluted in the hands of opportunists. Just like the extra caution and consensus in changing the U.S. constitution protected the principles of freedom and equality enshrined in it: Islamic law, too, enshrined core financial principles, that have been a thorn on the side of would-be reformers attempting to legalize fiat and modern banking in the name of Islamic Finance. The 12,000 semi-literate Madrasa students, parroting the provisions of the fair exchange of gold and silver from a 17th century syllabus citing a 9th century scholar, unwittingly become more correct than a Harvard doctorate in finance indoctrinated in the misguided larceny of fiat money! All because Muhammad ﷺ mandated sound money, just like Mises and Hayek after him, a tenet immutably crystallized in Fiqh — Islamic Jurisprudence. A business man himself, the Prophet of Islam possessed a sharp acumen for economics and finance. In modern parlance, he quickly rose the corporate ladder to become one of the youngest CEOs of his time tasked with turning around the failing business empire of the urbane female entrepreneur, Khadija. Impressed with the Prophet’s personality, Khadija quickly proposed to him, creating a power couple that changed the course of history. Just like Jesus turned out the money-lenders from the Second Temple, the Prophet of Islam, too, had a disdain for usury and outlawed most of the accompanying capitalist machinations, that contribute to the gross wealth disparities like 10% owning 76% of the assets. So he created some fundamental rules that constitute the bedrock of Islamic financial principles: Forbade usury (Riba), including interest. Still respecting the time value of money, the prohibition’s intent is to create a financial regime where profit and risk is shared between the entrepreneur and the investor. From a sound money perspective, it prohibits the core operation of issuing interest bearing bonds and T-Bills against which the central bank can inflate the money supply. Forbade uncertainty (Gharar), embodied in his famous quote, “Do not sell a fish which is still in the water.” Eliminates the possibility of fractional reserve, since outstanding debt cannot be monetized and traded further with, unless it’s paid. It also closes the tap on a myriad of derivative instruments that further inflate the money supply. Forbade speculation (Maisir), which includes outright gambling. Some scholars consider speculative market activity, like the Dogecoin phenomena, under the ambit of this ruling. Mandated sound money. The rules of obligatory charity tax in Islam are denominated in sound money. Muslim governments take the market price of gold, convert them to fiat prices, and announce the converted value to the public to pay the religious obligation of Zakat. But from a legal standpoint, it permanently establishes gold and silver (as well as a whole class of other products) as perpetual, religiously recognized money in Islam. These prohibitions are strong enough in Islamic theology that anyone who violates them is technically, “at war with Allah and his Prophet.” Which is why the Madrasa’s syllabus clings to “nature’s money” (Thaman-e-Khalqi): gold and silver. But of course, big governments, Muslim or otherwise, are a chip off the same block: Self-interest reigns supreme over ethical principles. In Pakistan alone, the religious case against fiat banking has been delayed and obstructed for over 40 years in the courts. The politics of deficit financing are so attractive that no one wants to surrender this magical money making wand. Voldemorts, all of them! In spite of these prohibitions, and in countries where religion dominates social values, Muslims still grew comfortable with paper money because it initially disguised itself as “warehouse receipts for gold” which duped the scholars into permitting it, but the jurisprudence failed to catch up with the subsequent thinning of this asset backing into its current meaningless extent. REFORM ATTEMPTS As the domino roll of national independences took place, four different threads of activity around banking spread in Muslim countries. First, the mainstream implementation of modern banking took root in every Muslim State, implemented in toto like its Western counterparts. Second, Islamic banking attempted to reshape things a little. Scholars familiar with both economics and Shariah attempted to “Islamize” banking via the new academic discipline of “Islamic finance.” But instead of faithfully creating platforms for risk-sharing and equity-based financing, it just followed the Medieval Triple Contract–like approach to practically clone existing financial products, accompanied by a plethora of research papers to justify it. Like a comedic quote from the cold war era, “Communism is the longest and most painful road from capitalism to capitalism,” contemporary Islamic finance, too, turned out to become the most painful and circuitous route from traditional banking to traditional banking, decorated with Arabic names! How the professional bankers duped these scholars and hijacked this effort is excellently explained by Harris Irfan in a podcast with our own Saifedean Ammous. Third, a large but silent majority of toothless Islamic scholars continues to exist who view all forms of banking with suspicion, but the growing chasm of knowledge gap between their education and the complexities of modern finance makes them unable to take back the narrative. Lastly, a much smaller band of Islamic scholars exist, like followers of the Sufi order of a British convert and his Basque disciple, as well as a scholar from Trinidad, who successfully identified the fundamental problem with modern banking from a Shariah perspective: its monetary foundation. You cannot “Islamize” a bank if you do not fix the money it operates on! Hence, their attempt to resuscitate the traditional Islamic gold dinar as a sound money alternative to fiat. GOLD DINAR: THE REAL ISLAMIC ALTERNATIVE Fiat money and its permissibility can be viewed through an important concept in Islamic theology, the Maqasid-e-Shariah: the goals or purpose of Shariah law. To illustrate this with a controversial example, consider a Shariah law which says you cannot punish a man or woman for adultery, unless you bring four eye witnesses to the sexual act (which is normally impossible). While Islam abhors adultery, the Maqasid is an attempt by scholars to understand why, instead of having a law that easily and swiftly punishes it, there exists one that makes it practically impossible to prosecute. They rationalized that it must be to shield people’s privacy and one-off slipups from society's nosy interference and appetite for punishment. According to Muhammad Asad, “… to make proof of adultery dependent on a voluntary, faith-inspired confession of the guilty parties themselves.” So the Maqasid points to some socially valuable goal that the law intends to achieve. The rationale of the financial laws of Shariah are similarly explained in terms of their goals: a just distribution of wealth, a money free from devaluation, a business contract free from usurious exploitation, and a regulatory regime that increases people’s wealth and well-being. Through a very elementary intuition, it is obvious that fiat currencies violate this principle of honesty and justice in the society: Money issuers steal the purchasing power of the people and devalue their money. To put a formal Quranic stamp to this reasoning, we can take verse 3:75, “There are some among the People of the Book (Jews and Christians) who, if entrusted with a stack of gold, will readily return it.” The modern Islamic bank, if entrusted with money equivalent to a stack of gold, returns you only 90% of its worth in purchasing power, owing to inflationary erosion, thus it’s part of a system that clearly violates the Maqasid. Islamic banks have thus thoroughly failed to espouse the core principle of risk sharing and eliminating interest (since interest exists in the very issuance process of the money they are built on). The only real Islamic alternative ever proposed was the Gold Dinar Movement. Starting in parallel (and in many respects earlier) than Islamic banking, (with the first modern Dinar minted in 1992), it was incisively accurate in its assessment and proposed remedy to the money problem: “The Return to the Gold Dinar.” This was an earlier time, when the golden tool in the fight against fiat was literally gold, which was then popularized by Austrian economics, advocated by upright leaders like Ron Paul, and adopted by grassroots activists like Bernard von NotHaus. The Muslim world saw its own spate of activism for sound money, led by its most vocal proponent, Umar Vadillo, and associated initiatives like Wakala Nusantara, Dinar First and my own Dinar Wakala. The Kelantan State government’s launch of Gold Dinar was our own El Zonte moment, full of euphoria and promise that made waves globally. The passion and courage of this vibrant lot of Warrior Sufis represented the best of modern-day Muslims: Profoundly knowledgeable people, engaged in grassroots activism, to fix the most pressing challenges of the contemporary world. However, the primary strength of gold, its physical indestructibility, came in the way of its adoption: Logistic and regulatory hindrances prevented free flow of physical gold coins across national boundaries. In the words of its founder, Shaykh Abdalqadir, “The defense mechanisms of today’s late capitalism and its crisis management surrounding the buying, moving and minting of gold have surrounded it with prohibitive pricing and taxation.” It continues to serve as a galvanizing symbol of the fight against Riba, but making it a practical inflationary hedge, or a broader Ummah-level movement for sound money, proved an elusive goal. Without the Gold Dinar, the horizon seemed all but bleak, except that a glimmer of hope came from the most unexpected of places: Where scholars, economists and revolutionaries had failed, nerds succeeded! Enter Emir Satoshi! ADVENT OF BITCOIN For us in the Gold Dinar Movement, Bitcoiners are our brothers in arms: fighting the same enemy, securing the same goal. This is what I have always advocated to my fellow activists in the dinar movement, from as far back as 2012. Our Prophetﷺ, as well as the Rashidun Caliphs, never debased money, nor profited from seigniorage, but gave us the right to choose our own mediums of exchange. This is fundamentally antithetical to the monstrosity of legal tender laws, which Islamic scholars have been duped into legitimizing under various pretexts (highlighting the need for increased financial literacy in this lot). This freedom to choose a currency constitutes the common ground that both us and the Bitcoiners can rally around together. “The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust,” writes Satoshi. He recognized the problem with fiat and set out to fix it with Bitcoin, a miraculous epiphany that has let loose this growing, global band of fervid, somewhat bumptious Maximalists, as similar in essence and ethos to us, as they look different in appearance. I see Bitcoiners, not only in their pluck and guile, but also in the sly ingenuity of their weapon of choice, as nothing less than a modern-day David taking on the Goliath of traditional banking! From a Muslim perspective, the operating verse of the Quran in critique of the Bitcoin movement becomes 49:13, “O mankind, indeed We have created you from male and female and made you peoples and tribes that you may know one another. Indeed, the most noble of you in the sight of Allah is the most righteous of you. Indeed, Allah is Knowing and Aware.” In the realm of monetary matters, the most righteous and noble are those who support sound money. It is appropriate that Allah stresses his own divine attributes in the verse, as a warning that our religiously colored conception of righteousness may not necessarily be the same as that of the knowing, the aware. (The literal term Taqwa, means something that protects you from the wrath of God.) And to the best of my belief, protecting and uplifting the poor, the downtrodden from the entrapments of a prejudiced financial system is surely a winner with the God of Abraham! A SECOND CHANCE We Muslims had set out to establish a just and fair society, and for some time, to quote David Graeber, succeeded: “Once freed from its ancient scourges of debt and slavery, the local bazaar had become, for most, not a place of moral danger, but the very opposite: the highest expression of the human freedom and communal solidarity, and thus to be protected assiduously from state intrusion.” But gradually, as our political and intellectual leadership in the world waned, we now find ourselves economically bankrupt, submerged in a rigged financial system, and enslaved to the dictates of the International Monetary Fund (IMF). A major reason for this impoverishment was the widening gap of modern knowledge. The following vicious cycle of three circularly dependent factors is another way of modeling our current reality: Low capital allocation for education. A generally weak economy leaves little allocation for investment in education of both scientific and humanities disciplines, which is required for a productive human capital. Low human capital. The first factor results in low quality of education in the populace then manifests politically in bad national decisions, engagement in conflicts, economic mismanagement, acquisition of debt and failure to curb corruption. Economically, this unskilled workforce has low productivity, scarce entrepreneurship and ineffective technology adoption. Religiously, it permits violence and extremism to breed along sectarian fault lines. Low economic output. The second factor results in continued economic tribulations, since the whole society is now in KTLO mode, instead of “adding new features.” Which leads us again to item one. It is the standard cycle of poverty played out at a macro scale, which many competing power bases believe they can break. The military, the Mullahs, and the Liberals, far away, even the CIA has prescriptions on how to solve our problems. But such temporary political and economic interventions bear no lasting results, since nations are built by worthy men and women, over a span of many years, who, given a free and peaceful environment, fall back on their innate drive for excellence to create a better world. It is the job of the revolutionary and his meteoric jolt, or at a smaller scale, your social entrepreneur giving a small push, that breaks a segment of society free from this vicious cycle: A closed ecosystem of wealth circulation, comprising of learned individuals, equipped with better technology and empowered with more capital, shielded from outside influence, and stabilized by a fair social contract, to launch the virtuous symbiosis of economic prosperity and human development which prop each other to newer heights. This break can start in many ways: a national independence, some strong leadership, or in case of Islam, the founding of a new religion. Islam’s own trajectory gives us a generalized three-stage pattern on which any revolution can be modeled, an excellent blueprint for our bitcoin adoption. Education: A new world view is conceived, and people are educated toward it for voluntarily placing their faith on it — Iman. Separation: The model is physically deployed, separated from existing systems, so it can grow and thrive without any negative external influences — Hijra. Protection: When the model grows strong enough to threaten the status quo, but still weak enough to be fully destructible, it needs protection, usually requiring armed conflict — Jihad. We in the Gold Dinar Movement believed that the break in this vicious cycle will come from financial empowerment: When Muslim people and governments adopt sound money, free from the shackles of the IMF, it will allow our bankrupt economies to manage enough disposable income that can be invested in other avenues in society, putting us on a path to progress and human development. Gold would bring back the Golden Age, producing men and women who are worth their weight in gold! But it could not. Let me explain why, and how bitcoin makes it possible. BITCOIN: A TOOL FOR REVOLUTION Following our three-stage model of a revolution, let’s review how bitcoin resolves the challenges of each step. 1. Education The common man, humble about his knowledge of finance, expects, like John Galbraith remarked, a “deeper mystery to the process of money creation.” But which really is so simple, he goes on, that “the mind is repelled.” But the chasm in traditional and modern education keeps our scholars from being able to religiously evaluate the fiat system, for which they need three vital credentials: a traditional Mufti qualification, specialized research in the Fiqh of Muamalat, and a study of modern economics. Only a handful achieve this, like the globally revered Usmani, who become thought leaders in Islamic finance: The rest take the easy way out and follow what they posit. I once asked a certified Shariah advisor on LinkedIn, if he knew what fractional reserve banking meant. I expected some abstruse, rule-bending justification for it but was taken aback by his honest admission that he simply didn’t know what it was! So the first challenge was to educate both the people and the scholars about the fiat system. Then to enlist serious academic and industry practitioners to devise a working alternative based on gold and silver. Then to have its demand trickle down into the masses to eventually morph into enough political pressure for the government to adopt it, much to its own detriment. Highly unlikely. Except that with bitcoin, educating the people now becomes much more focused and result oriented. The wider goal of educating people about finance and economics remains indispensable in both gold and Bitcoin-based sound money solutions. But with bitcoin, we don’t have to wait for a third-world academia and archaic-minded scholars to sell the solution to an unwilling government: We take the narrative, and the prerogative of action, back from them. We go tactical, orange pill the masses with an Urdu translation of the bitcoin standard, and focus on what is minimally essential to achieve within our means: Teaching Muggles... sorry…. No-coiners, the very basics of money mechanics, the role of bitcoin in our strategic response, and the know-how to stack satoshis in a cold wallet! The rest will follow! Coming to think of it, my initial printing press analogy is poignantly relevant. The press encapsulated years of knowledge in a simple package easily disseminated to thousands, which could have overcome our knowledge gap had we adopted it earlier. Bitcoin, too, encapsulates the quintessential wisdom of centuries of humanity’s experience in what constitutes good money and allows it to be spread easily across the world. It is both knowledge, and a tool crafted out of that knowledge. If we miss the boat on it, we will not only lose to “usury capitalism,” but the Bitcoin movement, too, will be deprived of huge potential support from a quarter of the world population. We must join the rest of humanity in a last ditch attempt at wealth equality. 2. Separation After educating people about money mechanics and bitcoin, the second step is the Hejira, our separation from the existing system. An Islamic scholar, Abdassamad Clarke defined “usury capital,” as “the use of capital that is both generated by usury and operated according to usurious principles, which permits a tiny clique of individuals, by the principle of fiat money amplified by leverage, to wield extraordinary power and accumulate unheard of wealth in such a manner as to subject the rest of humanity as menial servants in their project of self-enrichment, whether in the tyrannies of the East or the so-called free-market capitalism of the West.” The fundamental philosophical difference between Islamic and Western economics is how we view interest. Islam holds firm to the classical Judeo-Christian prohibition, believing that the time value of money is more fairly accounted for in equity finance style risk sharing of the invested capital, instead of a guaranteed return favoring the capitalist. Among other things, its side effect is prohibiting both the monetizing of our “future income” to issue fiat, and prohibiting the money-multiplier effect of fractional reserve, through the rulings of Riba, Bai-al-Dain and Bai-al-Madum. Bitcoiners and libertarians rely on an entirely different philosophical foundation to reach partially the same conclusion in regards to fiat, that it’s perverse, unjust and socially destructive. The end goal for both is the same: To separate ourselves from the fiat system and carve out an entirely new, independent financial system: The original idea of decentralized finance (DeFi)! Unfortunately, the bubble effect we so dislike in TradFi — traditional finance — is now itself widespread in the non-Bitcoin crypto world, what Ellen Farrington cites as the immense amount of “rehypothecation, leverage, and securitization,” which if misused can cause systemic risks that affect everyone. The practical reality of contemporary DeFi in the non-Bitcoin world is quite far from its theoretical goal. Looking at this aspect of “crypto,” some Islamic scholars took the liberty of invoking the gambling prohibition clause, something whose motivation we can sympathize with, even though we disagree with the conclusion. A lack of regulation at the administrative level cannot be countered by religious pronunciation of Haram status. It’s kind of like declaring cars as Islamically forbidden, merely because some people are driving them too fast and killing others. But presently, we are far less interested in how scholars view “crypto” than we are regarding bitcoin. The DeFi world’s shiny new investments offering unsustainable returns, its shady ICOs and the casino-like frenzy and get-rich-quick dreams of novice retail investors are far removed from what we advocate, from what we are daring to call a second chance for the Muslim world: A Bitcoin-based sound money adoption as a medium of exchange and store of value! But what is nevertheless commendable in the crypto world (led, of course, by Bitcoin) is the attempt to create this entirely new, independent miniverse of alternative, decentralized finance, isolated from the existing system. Building and expanding this decentralization, based on Bitcoin, is the essence of the second step of our revolutionary blueprint: the Hejira. Migrating from the old to the new. As Iqbal would have said, “Blow away this transitory world, and build a new one from its ashes” — khakastar se aap apna jahan paida karay. The only serious prior attempt for sound money among Muslims was the Dinar movement. But it only works in a physical jurisdiction: Where to mint, where to store, how to transport, how to coordinate electronic payments, how to deal with banking regulations, taxes and government interference? Theoretically, it was possible to instantiate an entirely independent ecosystem of issuance, storage, transport and trade using gold, but real progress on it was very slow. At the same time, the Bitcoin ecosystem has matured so much to be classifiable as an independent and isolated system, free from all interference from legacy finance. The Core Bitcoin Timechain, Lightning and Layer 2 smart contract solutions, and the globally distributed miner, node operator and supporter community, all combine to form a platform on which we can build and experiment with truly Islamic financial contracts of the form that are not possible with TradFi. In this ecosystem, we can resuscitate Islamic social and financial institutions like the Bait-ul-Maal, the Suq, the Waqf, the Guilds, the Hawala, the Wahdiya, the Qirad and the Musharaka, free from the restrictions of any government, securities commission or central bank. 3. Protection And once this isolated system is deployed, we need to protect it. A story is told in Islamic lore, that when Abu Dharr Ghifari came looking to meet the Prophet, Ali told him to walk a few paces behind him, and if he senses anyone suspicious he will stoop down to tie his shoelaces and Abu Dharr should continue walking ahead. Kind of like a coinjoin to obfuscate where he was actually going. When you are small, you must remain in stealth mode and operate under the radar. Later on, when the small state of early Islam was established in a nearby city, it needed a number of armed conflicts to defend itself from being nipped in the bud! Deploying a sound money system, too, may need a precarious window in which the sapling would need fierce protection before it grows into a tree. The hellacious powers issuing the yuans and dollars of the world are way too formidable for any third-world nation state to get away with a head-on collision. In fact, we cannot even withstand assaults from individual speculators, let alone a concerted effort by the global financial cabal to preserve its status quo. El Salvador and the like are definitely interesting trailblazers to watch out for here, but it is too early to tell. If a sufficient number of first-world citizens band together to defy their government in adoption of sound money, the response of fiat-powered regimes would (probably) be much more restrained in handling them versus some rogue state from a third-world country attempting to defy the dominant currency. I was told by a prominent Islamic banker that when Mahatir toyed with the idea, he was sent a very stern signal to “cease and desist” by the powers that be! So, can a Muslim government adopt and get away with either the dinar or bitcoin? I believe only in the latter. Only bitcoin has the necessary technological edge in terms of its unstoppability and indestructibility that can substitute for the need of a national military power strong enough to protect a traditional sound money built on gold. THE ISLAMIC STATE VERSUS BITCOIN But many Islamic revivalists believe otherwise and their goal is usually larger in scope than financial reform alone. It is a more holistic quest to resuscitate the political, social and legal structures of precolonial Islamic governments. Encouraged by the spectacular rise of early Islam that dared challenge superior powers like Byzantine and Sassanids, they believe it possible to recreate the traditional theocracy along similar lines, one of whose side effects would be to eradicate fiat currency also. Such ambitious projects downplay the urgency of fixing our financial system: No need to separately struggle for it if it comes as a natural corollary to the larger political renaissance. Now the specter of such pan-Islamic revival has been thoroughly demonized in Western imagination, owing from our own side to violent extremism, owing from their side to a deep-rooted Islamophobia, and owing generally to ideas (or realities?) like the clash of civilizations. But my Bitcoiner friends — whose libertarian ethos is so refined to even self-censure the slightist hint of authoritarian enforcement in El Salvador’s legal tender adoption of bitcoin — will surely agree that it is entirely within the rights of the Muslim world to voluntarily experiment, on their land, with whatever form of government they fancy: caliphates, sultanates or kingdoms! But the reality of this dream in the minds of the majority of modern Muslims is quite different from what the world perceives. The moderate Muslim just wants Islamic principles to be the guiding source of their political and social order. But the strength of this desire is often encashed by opportunists, resulting in two recent distorted models of political Islam: 1.The Iranian model: Somewhat broad-based and sustainable but toothless and symbolic. They are the political twins of Islamic banks, offering no real change to the common man, except moral policing. Financially, there even exists the oxymoronic Central Bank of the Islamic Republic. Why would you have an Islamic bank if you were truly an Islamic republic? 2. Second, is the Taliban and ISIS model: Narrow-based, extremist and unsustainable, divorced from the comity of nations. ISIS did reportedly issue the Gold Dinar but to no one’s avail, except perhaps as a recruitment propaganda. News out of Kabul promises a more restrained and balanced government this time around, but is it a genuine change of heart or just political expediency? So, while the Muslim world waits for a true Islamic reformation, and the world holds its breath on how the next such attempt turns out, my issue with this ubiquitous political quest in the Muslim imagination is just NGMI — it’s not gonna make it! We can’t stall the effort of immediate financial reform on some future promise of a bigger change happening to facilitate it. As an Urdu saying goes, na nau munn tayl hoe ga, na Radha naachay gi: Neither shall the king be able to provision nine gallons of lamp oil, and nor will the stage ever be lit enough for his dancing girl, Radha, to perform! Nevertheless, assuming for a moment that a mature, viable, modern Islamic government does get established by some geopolitical miracle, faithful to Islam’s core tenets, and broad-based in popular support, the next and more pertinent question becomes: Will it have sufficient political, and if necessary, military power, to deploy a gold-based sound monetary system in their country, and then get away with the sanctions and isolation that follow? And this is where bitcoin, once again, outshines other alternatives. The one trait that sets it apart from all “crypto”, and indeed, all monies in human history: true, sovereign-grade censorship resistance, from both your own government and foreign powers. Without needing any battalions or bombs, bitcoin enables us to fight the good fight ourselves and win. And if the broader Islamic reformation materializes, bitcoin can support it, too, for bypassing potential sanctions and increasing national wealth! God has a knack for defeating evil by the simplest of designs — the mighty Goliath with a slingshot, the persecutors of the Prophet with a humble spider — as if to compound the humiliation of defeat by the plainness of its bearer. Who could have thought that the Kremlins, Zhongnanhais and White Houses of the world would be made helpless by the confluence of two elementary ideas: proof of work and difficulty adjustment! But this simple, easily overlooked and less understood killer combination of traits makes bitcoin an undefeatable tool in the hands of us, the 99%. We do not need to wait for anyone. We can do it ourselves with bitcoin. THE WAY FORWARD While the wallet addresses, exchange accounts, market cap, and of course, the hype around crypto is constantly rising in Muslim countries, much of this activity is from the perspective of a shiny new investment vehicle, a get-rich-quick bandwagon to which everyone wants to hitch! This has engendered the animated debate of investor protection, scam avoidance and the whole academic deliberation of whether they are at all Halal owing to a perceived lack of intrinsic value and being free from government control. While all of these objections on bitcoin from the Shariah perspective have been thoroughly refuted by various scholars and are easily searchable on the internet, the continuance of this superfluous debate is dangerously distracting: In the process, we are losing sight of the higher frequencies of this amazing once-in-a-lifetime phenomenon. Aye ahle-e-nazar zauq-e-nazar khoob hai laikinJoe shay ki haqeeqat koe na dekhay woe nazar kiya We need bitcoin, not because it’s a great investment (which incidentally it is), but because it’s a great store of value and a medium of exchange: A free medium of exchange, which can uplift us collectively if we just adopt it, en masse, as our money. To my fellow Muslims, here is a parting thought. We love and honor our Prophet to such an extent that even the minutest of his actions, Sunnahs, is recorded, revered and repeated, even if it be as simple as the table manners of cutting some fruit. But here is another Sunnah of bigger import: success. The change that he set out to achieve in the world, he did achieve it. As he breathed his last in the arms of Ayesha, he had already delivered on the promise he had made to his companions in the lowest ebb of their persecution: “... a traveler from Sana to Hadrarmaut will fear none but Allah.” Although bordering a little on logical fallacy, I would point out that he didn’t cite something more symbolic like the establishment of the Caliphate, or the conquests, or the subsequent power. He chose to cite, as evidence of success to what they were suffering for, the establishment of a certain social order: One in which an anonymous citizen would not fear physical or financial insecurity. I say anonymous, not a private citizen, because the choice of the word “traveler” is very telling. While you are known in your city, protected by your identity, and potential clout from a corporation or clan, it is suddenly removed when you are in a strange land. They do not even know your name, unless you tell them: You are just a wallet address. But this traveler is not afraid of loss of wealth, or being robbed, or not having the right passport, or the right vaccine passport! He can move himself, and he can move his money. We Dinarists and Bitcoiners always equate inflation with theft. Whether you snatch 50 rupees from a poor man, or the free fall of your currency leaves him with 50 rupees less of a purchasing power, it is the same. While every ill is not caused by our monetary system, there is the obvious administrative incompetence and a dismal economic performance to account for — but inflation is definitely a huge factor. And all our high talk, slogans, research papers, reform movements, activism and militarism have deviated from this one Sunnah: The success of delivering safety to this traveler again. Bitcoin can help us succeed. Like now! Not 20 years later. Not when some promised leader will part the seas for us again. But now, when the poor illiterate, helpless man on the street looks at us educated and privileged elites and asks: What did you do to level the playing field for me? The Islamic banker may say, “Oh, I developed this intricate Shariah compliant profit and loss sharing contract for you, approved by the council of scholars, and backed by the gold dinar, just wait for it to be deployed.” I will say, “Dude, here, let me help you buy a few satoshis and get you a Lightning wallet so you don’t have to revert back to the rupee when paying for your next meal!” I think you should do the same. Bitcoin deserves a fresh look from us Muslims. Let’s think about it. Let’s use it correctly. Let’s spread it. Let’s understand it. Let’s use Bitcoin. Tyler Durden Sat, 10/30/2021 - 19:30.....»»

Category: blogSource: zerohedgeOct 30th, 2021

COVID-19: Moderna Gets Its Miracle

COVID-19: Moderna Gets Its Miracle Authored by Whitney Webb via Unlimited Hangout, COVID-19 erased the regulatory and trial-related hurdles that Moderna could never surmount before. Yet, how did Moderna know that COVID-19 would create those conditions months before anyone else, and why did they later claim that their vaccine being tested in NIH trials was different than their commercial candidate? In late 2019, the biopharmaceutical company Moderna was facing a series of challenges that not only threatened its ability to ever take a product to market, and thus turn a profit, but its very existence as a company. There were multiple warning signs that Moderna was essentially another Theranos-style fraud, with many of these signs growing in frequency and severity as the decade drew to a close. Part I of this three-part series explored the disastrous circumstances in which Moderna found itself at that time, with the company’s salvation hinging on the hope of a divine miracle, a “Hail Mary” save of sorts, as stated by one former Moderna employee.  While the COVID-19 crisis that emerged in the first part of 2020 can hardly be described as an act of benevolent divine intervention for most, it certainly can be seen that way from Moderna’s perspective. Key issues for the company, including seemingly insurmountable regulatory hurdles and its inability to advance beyond animal trials with its most promising—and profitable—products, were conveniently wiped away, and not a moment too soon. Since January 2020, the value of Moderna’s stock—which had embarked on a steady decline since its IPO—grew from $18.89 per share to its current value of $339.57 per share, thanks to the success of its COVID-19 vaccine. Yet, how exactly was Moderna’s “Hail Mary” moment realized, and what were the forces and events that ensured it would make it through the FDA’s emergency use authorization (EUA) process? In examining that question, it becomes quickly apparent that Moderna’s journey of saving grace involved much more than just cutting corners in animal and human trials and federal regulations. Indeed, if we are to believe Moderna executives, it involved supplying formulations for some trial studies that were not the same as their COVID-19 vaccine commercial candidate, despite the data resulting from the former being used to sell Moderna’s vaccine to the public and federal health authorities. Such data was also selectively released at times to align with preplanned stock trades by Moderna executives, turning many of Moderna’s highest-ranking employees into millionaires, and even billionaires, while the COVID-19 crisis meant economic calamity for most Americans.  Not only that, but—as Part II of this three-part series will show, Moderna and a handful of its collaborators at the National Institutes of Health (NIH) seemed to know that Moderna’s miracle had arrived—well before anyone else knew or could have known. Was it really a coincidental mix of “foresight” and “serendipity” that led Moderna and the NIH to plan to develop a COVID-19 vaccine days before the viral sequence was even published and months before a vaccine was even considered necessary for a still unknown disease? If so, why would Moderna—a company clearly on the brink—throw everything into and gamble the entire company on a vaccine project that had no demonstrated need at the time? The Serendipitous Origins of Moderna’s COVID-19 Vaccine When early January 2020 brought news of a novel coronavirus outbreak originating in Wuhan, China, Moderna’s CEO Stéphane Bancel immediately emailed Barney Graham, deputy director of the Vaccine Research Center at the National Institutes of Health, and asked to be sent the genetic sequence for what would become known as SAR-CoV-2, allegedly because media reports on the outbreak “troubled” him. The date of that email varies according to different media reports, though most place it as having been sent on either January 6th or 7th. A few weeks before Bancel’s email to Graham, Moderna was quickly approaching the end of the line, their desperately needed “Hail Mary” still not having materialized. “We were freaked out about money,” Stephen Hoge would later remember of Moderna’s late 2019 circumstances. Not only were executives “cutting back on research and other expenditures” like never before, but – as STAT News would later report – “cash from investors had stopped pouring in and partnerships with some drug makers had been discontinued. In meetings at Moderna, Bancel emphasized the need to stretch every dollar and employees were told to reduce travel and other expenses, a frugality there were advised would last several years.” At the tail end of 2019, Graham was in a very different mood than Bancel, having emailed the leader of the coronavirus team at his NIH lab saying, “Get ready for 2020,” apparently viewing the news out of Wuhan in late 2019 as a harbinger of something significant. He went on, in the days before he was contacted by Bancel, to “run a drill he had been turning over in his mind for years” and called his long-time colleague Jason McLellan “to talk about the game plan” for getting a head start on producing a vaccine the world did not yet know it needed. When Bancel called Graham soon afterward and asked about this new virus, Graham responded that he didn’t know yet but that “they were ready if it turned out to be a coronavirus.” The Washington Post claimed that Graham’s apparent foreknowledge that a coronavirus vaccine would be needed before anyone officially knew what type of disease was circulating in Wuhan was a fortunate mix of “serendipity and foresight.”  Dr. Barney Graham and Dr. Kizzmekia Corbett, VRC coronavirus vaccine lead, discuss COVID-19 research with U.S. legislators Sen. Chris Van Hollen, Sen. Benjamin Cardin and Rep. Jamie Raskin, March 6, 2020; Source: NIH A report in Boston magazine offers a slightly different account than that reported by the Washington Post. Per that article, Graham had told Bancel, “If [the virus] is a coronavirus, we know what to do and have proven mRNA is effective.” Per that report, this assertion of efficacy from Graham referred to Moderna’s early stage human-trial data published in September 2019 regarding its chikungunya vaccine candidate, which was funded by the Defense Advanced Research Projects Agency (DARPA), as well as its cytomegalovirus (CMV) vaccine candidate.  As mentioned in Part I of this series, the chikungunya vaccine study data released at that time included the participation of just four subjects, three of whom developed significant side effects that led Moderna to state that they would reformulate the vaccine in question and would pause trials on that vaccine candidate. In the case of the CMV vaccine candidate, the data was largely positive, but it was widely noted that the vaccine still needed to pass through larger and longer clinical trials before its efficacy was in fact “proven,” as Graham later claimed. In addition, Graham implied that this early stage trial of Moderna’s CMV vaccine candidate was somehow proof that an mRNA vaccine would be effective against coronaviruses, which makes little sense since CMV is not a coronavirus but instead hails from the family of viruses that includes chickenpox, herpes, and shingles.  Bancel apparently had reached out to Graham because Graham and his team at the NIH had been working in direct partnership with Moderna on vaccines since 2017, soon after Moderna had delayed its Crigler-Najjar and related therapies in favor of vaccines. According to Boston magazine, Moderna had been working closely with Graham specifically “on [Moderna’s] quest to bring a whole new class of vaccines to market” and Graham had personally visited Moderna’s facilities in November 2019. Dr. Anthony Fauci, the director of the NIH’s infectious-disease division NIAID, has called his unit’s collaboration with Moderna, in the years prior to and also during the COVID-19 crisis, “most extraordinary.” The year 2017, besides being the year when Moderna made its pivot to vaccines (due to its inability to produce safe multidose therapies, see Part I), was also a big year for Graham. That year he and his lab filed a patent for the “2P mutation” technique whereby recombinant coronavirus spike proteins can be stabilized in a prefusion state and used as more effective immunogens. If a coronavirus vaccine were to be produced using this patent, Graham’s team would financially benefit, though federal law caps their annual royalties. Nonetheless, it would still yield a considerable sum for the named researchers, including Graham. However, due to the well-known difficulties with coronavirus vaccine development, including antibody dependent enhancement risk, it seemed that commercial use of Graham’s patent was a pipe dream. Yet, today, the 2P mutation patent, also known as the ’070 patent, is not just in use in Moderna’s COVID-19 vaccine, but also in the COVID-19 vaccines produced by Johnson & Johnson, Novavax, Pfizer/BioNTech, and CureVac. Experts at New York University School of Law have noted that the 2P mutation patent first filed in 2016 “sounds remarkably prescient” in light of the COVID crisis that emerged a few years later while later publications from the NIH (still pre-COVID) revealed that the NIH’s view on “the breadth and importance of the ’070 patent” as well as its potential commercial applications was also quite prescient, given that there was little justification at the time to hold such a view.  On January 10, three days after the reported initial conversation between Bancel and Graham on the novel coronavirus outbreak in Wuhan, China, Graham met with Hamilton Bennett, the program leader for Moderna’s vaccine portfolio. Graham asked Bennett “if Moderna would be interested in using the new [novel coronavirus] to test the company’s accelerated vaccine-making capabilities.” According to Boston, Graham then mused, “That way . . . if ever there came a day when a new virus emerged that threatened global public health, Moderna and the NIH could know how long it would take them to respond.”  Graham’s “musings” to Bennett are interesting considering his earlier statements made to others, such as “Get ready for 2020” and his team, in collaboration with Moderna, would be “ready if [the virus then circulating in Wuhan, China] turned out to be a coronavirus.” Is this merely “serendipity” and “foresight”, as the Washington Post suggested, or was it something else? It is worth noting that the above accounts are those that have been given by Bancel and Graham themselves, as the actual contents of these critical January 2020 emails have not been publicly released.  When the genetic sequence of SARS-CoV-2 was published on January 11, NIH scientists and Moderna researchers got to work determining which targeted genetic sequence would be used in their vaccine candidate. Later reports, however, claimed that this initial work toward a COVID-19 vaccine was merely intended to be a “demonstration project.”  Other odd features of the Moderna-NIH COVID-19 vaccine-development story emerged with Bancel’s account of the role the World Economic Forum played in shaping his “foresight” when it came to the development of a COVID-19 vaccine back in January 2020. On January 21, 2020, Bancel reportedly began to hear about “a far darker version of the future” at the World Economic Forum (WEF) annual meeting in Davos, Switzerland, where he spent time with “two [anonymous] prominent infectious-disease experts from Europe” who shared with him data from “their contacts on the ground in China, including Wuhan.” That data, per Bancel, showed a dire situation that left his mind “reeling” and led him to conclude, that very day, that “this isn’t going to be SARS. It’s going to be the 1918 flu pandemic.”  Stéphane Bancel speaks at the Breakthroughs in Cancer Care session at WEF annual meeting, January 24, 2020; Source: WEF This realization is allegedly what led Bancel to contact Moderna cofounder and chairman, as well as a WEF technology pioneer, Noubar Afeyan. Bancel reportedly interrupted Afeyan’s celebration of his daughter’s birthday to tell him “what he’d learned about the virus” and to suggest that “Moderna begin to build the vaccine—for real.” The next day, Moderna held an executive meeting, which Bancel attended remotely, and there was considerable internal debate about whether a vaccine for the novel coronavirus would be needed. To Bancel, the “sheer act of debating” pursuing a vaccine for the virus was “absurd” given that he was now convinced, after a single day at Davos, that “a global pandemic was about to descend like a biblical plague, and whatever distractions the vaccine caused internally at Moderna were irrelevant.” Bancel spent the rest of his time at the Davos annual meeting “building partnerships, generating excitement, and securing funding,” which led to the Moderna collaboration agreement with the Coalition for Epidemic Preparedness Innovations—a project largely funded by Bill Gates. (Bancel and Moderna’s cozy relationship with the WEF, dating back to 2013, was discussed in Part I as were the Forum’s efforts, beginning well before COVID-19, to promote mRNA-based therapies as essential to the remaking of the health-care sector in the age of the so-called Fourth Industrial Revolution). At the 2020 annual meeting attended by Bancel and others it was noted that a major barrier to the widespread adoption of these and other related “health-care” technologies was “public distrust.” The panel where that issue was specifically discussed was entitled “When Humankind Overrides Evolution.”  As also noted in Part I of this series, a few months earlier, in October 2019, major players in what would become the Moderna COVID-19 vaccine, particularly Rick Bright and Anthony Fauci, had discussed during a Milken Institute panel on vaccines how a “disruptive” event would be needed to push the public to accept “nontraditional” vaccines such as mRNA vaccines; to convince the public that flu-like illnesses are scarier than traditionally believed; and to remove existing bureaucratic safeguards in the vaccine development-and-approval processes.  That panel took place less than two weeks after the Event 201 simulation, jointly hosted by the World Economic Forum, the Bill & Melinda Gates Foundation, and the Johns Hopkins Center for Health Security. Event 201 simulated “an outbreak of a novel zoonotic coronavirus” that was “modeled largely on SARS but . . . more transmissible in the community setting by people with mild symptoms.” The recommendations of the simulation panel were to considerably increase investment in new vaccine technologies and industrial approaches, favoring rapid vaccine development and manufacturing. As mentioned in Part I, the Johns Hopkins Center for Health Security had also conducted the June 2001 Dark Winter simulation that briefly preceded and predicted major aspects of the 2001 anthrax attacks, and some of its participants had apparent foreknowledge of those attacks. Other Dark Winter participants later worked to sabotage the FBI investigation into those attacks after their origin was traced back to a US military source.  It is hard to imagine that Bancel, whose company had long been closely partnered with the World Economic Forum and the Gates Foundation, was unaware of the exercise and surprised by the closely analogous event that transpired within three months. Given the accounts given by Bancel, Graham, and others, it seems likely there is more to the story regarding the origins of Moderna’s early and “serendipitous” push to develop a COVID-19 vaccine. In addition, given that Moderna was in dire financial circumstances at the time, it seems odd that the company would gamble everything on a vaccine project that was opposed by the few investors that were still willing to fund Moderna in January/February 2020. Why would they divert their scant resources towards a project born only out of Barney Graham’s “musings” that Moderna could try to test the speed of its vaccine development capabilities and Bancel’s doomsday view that a “biblical plague” was imminent, especially when their investors opposed the idea? Moderna Gets to Bypass Its Long-Standing Issues with R & D Moderna produced the first batch of its COVID-19 vaccine candidate on February 7, one month after Bancel and Graham’s initial conversation. After a sterility test and other mandatory tests, the first batch of its vaccine candidate, called mRNA-1273, shipped to the NIH on February 24. For the first time in a long time, Moderna’s stock price surged. NIH researchers administered the first dose of the candidate into a human volunteer less than a month later, on March 16.  Controversially, in order to begin its human trial on March 16, regulatory agencies had to allow Moderna to bypass major aspects of traditional animal trials, which many experts and commentators noted was highly unusual but was now deemed necessary due to the urgency of the crisis. Instead of developing the vaccine in distinct sequential stages, as is the custom, Moderna “decided to do all of the steps [relating to animal trials] simultaneously.” In other words, confirming that the candidate is working before manufacturing an animal-grade vaccine, conducting animal trials, analyzing the animal-trial data, manufacturing a vaccine for use in human trials, and beginning human trials were all conducted simultaneously by Moderna. Thus, the design of human trials for the Moderna vaccine candidate was not informed by animal-trial data.  Lt. Javier Lopez Coronado and Hospitalman Francisco Velasco inspect a box of COVID-19 vaccine vials at the Naval Health Clinic in Corpus Christi, TX, December 2020; Source: Wikimedia This should have been a major red flag, given Moderna’s persistent difficulties in getting its products past animal trials. As noted in Part I, up until the COVID-19 crisis, most of Moderna’s experiments and products had only been tested in animals, with only a handful able to make it to human trials. In the case of the Crigler-Najjar therapy that it was forced to indefinitely delay, toxicity concerns related to the mRNA delivery system being used had emerged in the animal trials, which Moderna was now greenlighted to largely skip. Given that Moderna had subsequently been forced to abandon all multidose products because of poor results in animal trials, being allowed to skip this formerly insurmountable obstacle was likely seen as a boon to some at the company. It is also astounding that, given Moderna’s history with problematic animal trials, more scrutiny was not devoted to the regulatory decision to allow Moderna to essentially skip such trials.  Animal studies conducted on Moderna’s COVID-19 vaccine did identify problems that should have informed human trials, but this did not happen because of the regulatory decision. For example, animal reproductive toxicity studies on the Moderna COVID-19 vaccine that are cited by the European Medicines Agency found that there was reduced fertility in rats that received the vaccine (e. g., overall pregnancy index of 84.1% in vaccinated rats versus 93.2% in the unvaccinated) as well as an increased proportion of aberrant bone development in their fetuses. That study has been criticized for failing to report on the accumulation of vaccine in the placenta as well as failing to investigate the effect of vaccine doses administered during key pregnancy milestones, such as embryonic organogenesis. In addition, the number of animals tested is unstated, making the statistical power of the study unknown. At the very least, the 9 percent drop in the fertility index among vaccinated rats should have prompted expanded animal trials to investigate concerns of reproductive toxicity before testing in humans.  Yet, Moderna declined to further investigate reproductive toxicity in animal trials and entirely excluded reproductive toxicity studies from its simultaneous human trials, as pregnant women were excluded from participation in the clinical trials of its vaccine. Despite this, pregnant women were labeled a priority group for receiving the vaccine after Emergency Use Authorization (EUA) was granted for the Moderna and Pfizer/BioNTech vaccines. Per the New England Journal of Medicine, this meant that “pregnant women and their clinicians were left to weigh the documented risks of Covid-19 infection against the unknown safety risks of vaccination in deciding whether to receive the vaccine.”  Moderna only began recruiting for an “observational pregnancy outcome study” of its COVID-19 vaccine in humans in mid-July 2021, and that study is projected to conclude in early 2024. Nevertheless, the Centers for Disease Control recommends the use of Moderna’s COVID-19 vaccine in “people who are pregnant, breastfeeding, trying to get pregnant now, or might become pregnant in the future.” This recommendation is largely based on the CDC’s publication of preliminary data on mRNA COVID-19 vaccine safety in pregnant women in June 2021, which is based on passive reporting systems in use within the United States (i. e., VAERS and v-safe). Even in the limited scope of this study, 115 of the 827 women who had a completed pregnancy during the study lost the baby, 104 of which were spontaneous abortions before 20 weeks of gestation. Of these 827 pregnant women, only 127 had received a mRNA vaccine before the 3rd trimester. This appears to suggest an increased risk among those women who took the vaccine before the 3rd trimester, but the selective nature of the data makes it difficult to draw any definitive conclusions. Despite claims from the New England Journal of Medicine that the study’s data was “reassuring”, the study’s authors ultimately stated that their study, which mainly looked at women who began vaccination in the third trimester, was unable to draw “conclusions about spontaneous abortions, congenital anomalies, and other potential rare neonatal outcomes.” This is just one example of the problems caused by “cutting corners” with respect to Moderna’s COVID-19 vaccine trials in humans and animals, including those conducted by the NIH. Meanwhile, throughout February, March and April, Bancel was “begging for money” as Moderna reportedly lacked “enough money to buy essential ingredients for the shots” and “needed hundreds of millions of dollars, perhaps even more than a billion dollars” to manufacture its vaccine, which had only recently begun trials. Bancel, whose tenure at Moderna had long been marked by his ability to charm investors, kept coming up empty-handed. Then, in mid-April 2020, Moderna’s long-time cooperation with the US government again paid off when Health and Human Services Biomedical Advanced Research and Development Authority (BARDA) awarded the company $483 million to “accelerate the development of its vaccine candidate for the novel coronavirus.” A year later, the amount invested in Moderna’s COVID-19 vaccine by the US government had grown to about $6 billion dollars, just $1.5 billion short of the company’s entire value at the time of its pre-COVID IPO. BARDA, throughout 2020, was directly overseen by the HHS Office of the Assistant Secretary for Preparedness and Response (ASPR), led by the extremely corrupt Robert Kadlec, who had spent roughly the last two decades designing BARDA and helping shape legislation that concentrated many of the emergency powers of HHS under the Office of the ASPR. Conveniently, Kadlec occupied the powerful role of ASPR that he had spent years sculpting at the exact moment when the pandemic, which he had simulated the previous year via Crimson Contagion, took place. As mentioned in Part I, he was also a key participant in the June 2001 Dark Winter exercise. In his capacity as ASPR during 2020, Kadlec oversaw nearly all major aspects of the HHS COVID-19 response and had a key role in BARDA’s funding decisions during that period, as well as in the affairs of the NIH and the Food and Drug Administration as they related to COVID-19 medical countermeasures, including vaccines.  On May 1, 2020, Moderna announced a ten-year manufacturing agreement with the Lonza Group, a multinational chemical and biotech company based in Switzerland. Per the agreement, Lonza would build out vaccine production sites for Moderna’s COVID-19 vaccine, first in the US and Switzerland, before expanding to Lonza’s facilities in other countries. The scale of production discussed in the agreement was to produce 1 billion doses of Moderna’s COVID-19 vaccine annually. It was claimed that the ten-year agreement would also focus on other products, even though it was well known at the time that other Moderna products were “nowhere close to being ready for the market.” Moderna executives would later state that they were still scrambling for the cash to manufacture doses at the time the agreement with Lonza was made. The decision to forge a partnership to produce that quantity of doses annually suggests marvelous foresight on the part of Moderna and Lonza that the COVID-19 vaccine would become an annual or semiannual affair, given that current claims of waning immunity could not have been known back then because initial trials of the Moderna vaccine had begun less than two months earlier and there was still no published data on its efficacy or safety. However, as will be discussed Part III of this series, Moderna needs to sell “pandemic level” quantities of its COVID-19 vaccine every year in order to avoid a return of the existential crises it faced before COVID-19 (for more on those crises, see Part I). The implications of this, given Moderna’s previous inability to produce a safe product for multidosing and lack of evidence that past issues were addressed in the development of its COVID-19 vaccine, will also be discussed in Part III of this series.  It is also noteworthy that, like Moderna, Lonza as a company and its leaders are closely affiliated with the World Economic Forum. In addition, at the time the agreement was reached in May 2020, Moncef Slaoui, the former GlaxoSmithKline executive, served on the boards of both Moderna and Lonza. Slaoui withdrew from the boards of both companies two weeks after the agreement was reached to become the head of the US-led vaccination-development drive Operation Warp Speed. Moderna praised Slaoui’s appointment to head the vaccination project.  By mid-May, Moderna’s stock price—whose steady decline before COVID-19 was detailed in Part I —had tripled since late February 2020, all on high hopes for its COVID-19 vaccine. Since Moderna’s stock had begun to surge in February, media reports noted that “nearly every progress update—or media appearance by Moderna CEO Stephane Bancel—has been gobbled up by investors, who seem to have an insatiable appetite for the stock.” Bancel’s tried-and-tested method of keeping Moderna afloat on pure hype, though it was faltering before COVID-19, was again paying off for the company thanks to the global crisis and related panic.  Some critics did emerge, however, calling Moderna’s now $23 billion valuation “insane,” especially considering that the company had posted a net loss of $514 million the previous year and had yet to produce a safe or effective medicine since its founding a decade earlier. In January 2020, Moderna had been worth a mere $5 billion, $2 billion less than its valuation at its December 2018 IPO. If it hadn’t been for the onset of the COVID crisis and a fresh injection of hype, it seems that Moderna’s valuation would have continued to shrink. Yet, thankfully for Moderna, investors were valuing Moderna’s COVID-19 vaccine even before the release of any clinical data. Market analysts at the time were forecasting Moderna’s 2022 revenue at about $1 billion, a figure based almost entirely on coronavirus vaccine sales, since all other Moderna products were years away from a market debut. Yet, even with this forecasted revenue, Moderna’s stock value in mid-May 2020 was trading at twenty-three times its projected sales, a phenomenon unique to Moderna among biotech stocks at the time. For comparison, the other highest multiples in biotech at the time were Vertex Pharmaceutical and Seattle Genetics, which were then trading at nine and twelve times their projected revenue, respectively. Now, with the implementation of booster shot policies around the world, revenue forecasts for Moderna now predict the company will make a staggering $35 billion in COVID-19 vaccine sales through next year. To read the rest of the report, click here. Tyler Durden Fri, 10/29/2021 - 12:15.....»»

Category: blogSource: zerohedgeOct 29th, 2021

Cambium (CMBM) Issues Preliminary Q3 Results, Revenues Down

The lower third-quarter revenue projection by Cambium (CMBM) is primarily due to supply chain disruptions leading to a fall in the shipment of products. Cambium Networks Corporation CMBM recently issued preliminary results for third-quarter 2021. The selective preliminary metrics offer clarity regarding its business operations as it aims to navigate through the post-pandemic revival and supply chain headwinds.Management currently expects third-quarter GAAP revenues of $75 million compared with earlier expectations of $88-$92 million. The lower revenue projection is primarily due to supply chain disruptions leading to a fall in the shipment of products. The Zacks Consensus Estimate for revenues is currently pegged at $91 million. Total operating expenses are expected between $97 million and $105 million.Despite likely top-line contraction, Cambium continues to witness a healthy demand curve and has a strong pipeline of backlog products – up 57% year over year at quarter end. Net income (both GAAP and non-GAAP) is likely to be below its earlier guided range. The company had previously expected non-GAAP earnings to be in the range of $8.6-$9.8 million or 30-34 cents per share, with GAAP earnings in the band of $7.1-$8.5 million or 25-29 cents per share. The consensus estimate for non-GAAP earnings is currently pegged at 34 cents per share.  Nevertheless, the company is well-positioned to benefit from a proprietary software and product ramp-up, likely facilitating it to deliver a compelling combination of price, performance, and spectrum efficiency. One of the major advantages of Cambium is its fixed wireless broadband networking infrastructure solutions, which are distinguished by embedded intelligence and scalability. The majority of its revenues are derived from Point-to-Multi-Point (PMP) and Point-to-Point (PTP) solutions. PTP solutions are connected to high-bandwidth wireline networks in a bid to transport wireless broadband backhaul to facilities. PMP solutions are mainly used to backhaul video surveillance systems.The company believes that growth in data traffic is likely to be primarily driven by the addition of applications and connected devices used for both enterprise and service provider use cases. Moreover, with the rapid transition to Wi-Fi 6 solutions, Cambium witnessed major improvements in enterprise Wi-Fi solutions supported by improved field deployments. Its upcoming 5G 28 GHz millimeter wave products are expected to be launched in 2021, which are likely to boost its business operations in the global market.Some of its competitive strengths are advanced RF signal algorithms that boost network performance with evolving technologies like noise filtering and frequency reuse and efficient wireless fabric that enables operators to strengthen their networks with incremental fixed wireless access points. Its cloud-based network management software acts as a major tailwind that simplifies the overall deployment process through hassle-free configuration and monitoring. Continued investments in wireless fabric and embedded software capabilities with expanded channel partner relationships are the cornerstones of its long-term growth across a diverse set of markets.Cambium intends to augment its geographical footprint by collaborating with major network operators, thereby driving its product adoption across various end markets. Amid the rapid 5G shift, accretive investments in high-speed wireless networks are likely to position its portfolio to secure lucrative opportunities in the long run. Over the past few years, it has benefited from investments related to gigabit wireless solutions such as 60 GHz millimeter wave products and Wi-Fi 6. The first phase of the Rural Digital Opportunity Fund is expected to boost the deployment of broadband service among the underserved communities and help bridge the digital gap over the next 10 years.Cambium currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader industry are Clearfield, Inc. CLFD, sporting a Zacks Rank #1, and Motorola Solutions Inc. MSI and Ubiquiti Inc. UI, both carrying a Zacks Rank #2 (Buy). You can see tthe complete list of today’s Zacks #1 Rank stocks here.Clearfield delivered a trailing four-quarter earnings surprise of 49%, on average.Motorola has a long-term earnings growth expectation of 9%. It delivered an earnings surprise of 11.6%, on average, in the trailing four quarters.Ubiquiti has a long-term earnings growth expectation of 32.9%. It delivered an earnings surprise of 20.5%, on average, in the trailing four quarters. 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 Motorola Solutions, Inc. (MSI): Free Stock Analysis Report Clearfield, Inc. (CLFD): Free Stock Analysis Report Cambium Networks Corporation (CMBM): Free Stock Analysis Report Ubiquiti Inc. (UI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 22nd, 2021

Ribbon (RBBN) Deploys Direct Routing, Revamps Paltel"s Network

Ribbon (RBBN) partners Paltel to enhance the latter's network infrastructure with the deployment of Ribbon Connect for Microsoft Teams Direct Routing service. Ribbon Communications Inc. RBBN has collaborated with Palestine Telecommunication Company (“Paltel”) to revamp the latter’s legacy phone systems with Ribbon Connect for Microsoft Teams Direct Routing service. The offering includes a fully automated deployment process for both SIP trunks and Teams configuration. It operates in the Microsoft Azure cloud globally.Paltel is known for delivering the best-in-class technology and solutions in the telecommunication industry. This leading Palestine-based telco caters to both residential and business customers with a plethora of services.These include data communications, Internet and fixed-line services, and value-added services. Its data center boasts a stable network architecture and empowers businesses to transform with innovative communications solutions in a highly secured environment.At a time when majority of the organizations are switching to cloud communications and collaboration, Ribbon Connect is considered an ideal solution to design and build an enhanced network infrastructure on the back of streamlined business processes.Per the partnership, Paltel will be able to seamlessly add voice-calling capabilities into Microsoft Teams with access to nearly 250 million monthly active users. With Ribbon’s accretive client base, Paltel will be able to capture new markets without making major capital investments, thanks to its in-depth tech knowledge and expertise.Ribbon Connect for Microsoft Teams Direct Routing is a cloud-based solution that makes it easy for businesses to communicate with greater flexibility. The platform is equipped with intuitive web-based menus that facilitate the addition of Teams Calling to user profiles. It is a cost-effective offering that enables enterprises to migrate key sales staff to Teams.The solution is delivered on a per-user basis. It can automatically set-up Session Border Controller (SBC) services and integrate with an existing Cloud Unified Communications service. The SBCs ensure security and interoperability in business connections, thereby staying productive. Ribbon Connect minimizes planning issues and allows enterprises to scale up or down to match usage levels even in case of business fluctuations.Driven by such robust characteristics and consistent support, the partnership will be a win-win for both entities. It will accelerate the adoption rates of Ribbon Connect for Microsoft Teams Direct Routing solution, in turn, supporting Paltel to reach a wide base of customers while managing existing investments or business processes with the incorporation of Teams.Ribbon intends to remain focused on delivering real-time and secure data as well as voice network capabilities for the cloud, network, and enterprise edge. The Plano, TX-based communications services developer intends to augment its scale, total addressable market, and global footprint in service provider networks, enterprises, and critical infrastructure companies. This will help the company to expand its relationships with fixed and mobile service providers while enabling it to capitalize on the high-growth 5G market for lucrative cash flow.Zacks Rank & Stocks to ConsiderRibbon currently has a Zacks Rank #3 (Hold). Its shares have gained 56.2% compared with the industry’s growth of 101% in the past year.Image Source: Zacks Investment ResearchSome better-ranked stocks in the broader industry are Ooma, Inc. OOMA, Microsoft Corporation MSFT, and SeaChange International, Inc. SEAC. While Ooma sports a Zacks Rank #1 (Strong Buy), Microsoft and SeaChange International carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Ooma delivered a trailing four-quarter earnings surprise of 55.2%, on average.Microsoft delivered a trailing four-quarter earnings surprise of 16.9%, on average.SeaChange International delivered a trailing four-quarter earnings surprise of 28.9%, on average. 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 Microsoft Corporation (MSFT): Free Stock Analysis Report SeaChange International, Inc. (SEAC): Free Stock Analysis Report Ooma, Inc. (OOMA): Free Stock Analysis Report Ribbon Communications Inc. (RBBN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 22nd, 2021

Amphenol (APH) to Report Q3 Earnings: What"s in the Cards?

Amphenol's (APH) third-quarter 2021 results are likely to reflect benefits from a diversified business model and accretive acquisitions. Amphenol APH is set to report third-quarter 2021 results on Oct 27.Amphenol expects third-quarter 2021 earnings between 60 cents and 62 cents per share, indicating 9% to 13% year-over-year growth. Revenues are anticipated to be $2.640-$2.700 billion, indicating 14-16% year-over-year growth.The Zacks Consensus Estimate for third-quarter revenues is pegged at $2.70 billion, implying growth of 16.4% from the figure reported in the year-ago quarter.The consensus mark for earnings has stayed at 63 cents per share over the past 30 days, suggesting 14.6% growth from the figure reported in the year-ago quarter. Amphenol Corporation Price and EPS Surprise Amphenol Corporation price-eps-surprise | Amphenol Corporation Quote Amphenol’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters, the average surprise being 14.4%.Let’s see how things have shaped up for the upcoming announcement.Factors to ConsiderAmphenol’s diversified business model lowers the volatility of individual-end markets and geographies. Contributions from acquisitions of Unlimited Services, Euromicron, Cabelcon, MTS Systems, Onanon, Cablescan, XGiga and EXA Thermometrics are expected to have aided third-quarter results.Military market sales are expected to have increased sequentially due to the addition of MTS sensors to the product offering, as well as strong demand for interconnect products. Accelerating adoption of electronics in defense equipment systems and the overall favorable defense spending environment are trends that have been benefiting Amphenol in the past few quarters. These are expected to have continued in the to-be-reported quarter.The addition of MTS sensors like position, vibration, force and shock in the portfolio is also expected to have increased industrial end-market sales. Acquisition of Unlimited Services has further strengthened Amphenol’s position in this market.Strong mobile network sales, driven by investments in next-generation mobile networks and the acquisition of Euromicron, are expected to have benefited Amphenol’s third-quarter results. Additionally, Mobile devices’ sales are expected to have benefited from the launch of new devices.Information Technology and Data Communications sales are expected to have benefited from increased demand for Amphenol’s solutions required to accelerate bandwidth capacity expansions in order to support ongoing work-from-home and online-learning waves.The Cabelcon buyout is expected to have aided broadband end-market top-line growth.Amphenol’s third-quarter 2021 top line is expected to have suffered from supply chain disruptions in the improved automotive end-market.Commercial aerospace is expected to have remained subdued due to pandemic-induced reduction in demand for new aircraft and restrictions on traveling.What Our Model SaysAccording to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.Amphenol has an Earnings ESP of +1.02% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Other Stocks to ConsiderHere are a few other companies you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat in their upcoming releases:Alphabet GOOGL has an Earnings ESP of +7.71% and is Zacks #2 Ranked. You can see the complete list of today’s Zacks #1 Rank stocks here.CACI International CACI has an Earnings ESP of +4.43% and carries a Zacks Rank of 2, at present.Apple AAPL has an Earnings ESP of +5.69% and carries a Zacks Rank of 3, at present. 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 Apple Inc. (AAPL): Free Stock Analysis Report Amphenol Corporation (APH): Free Stock Analysis Report CACI International, Inc. (CACI): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 22nd, 2021

Three Ways 5G Will Empower Your Business

After looming on the horizon for a number of years, the rollouts of 5G are now accelerating rapidly, and the technology is increasingly becoming available to businesses across Australia. The hype behind the technology is huge, but is it just that – hype – or is it going to deliver something meaningful to business? Q3 […] After looming on the horizon for a number of years, the rollouts of 5G are now accelerating rapidly, and the technology is increasingly becoming available to businesses across Australia. The hype behind the technology is huge, but is it just that – hype – or is it going to deliver something meaningful to business? .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 Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio 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 Perhaps the biggest proof that 5G is set to be something big is headlines like “5G will set fire to the Fourth Industrial Revolution.” Driven by automation, AI, the Internet-of-Things (IoT) and quantum computing, the Fourth Industrial Revolution is going to supercharge how businesses operate, with efficiencies and new ways of doing business that haven’t even been dreamed up yet. The reason that 5G is an important part of that conversation is that 5G provides a foundation that previous generations of network connectivity haven’t been able to. Understanding 5G There are three characteristics to 5G that underpin why it alone will be the platform for the Fourth Industrial Revolution: Speeds 5G promises speeds of as high as 1 Gbps in optimal conditions, and while “in-use” speeds will be significantly lower, the reality is that 5G at its slowest will still be the equivalent of current fixed wireless at its fastest, and a significant step up from what the previous generation of wireless broadband (4G) allowed. Greater speeds mean bigger files streamed or downloaded faster. It’s the most obvious benefit of 5G. Latency Latency is the real secret to 5G unlocking innovation that is otherwise not possible. Fixed wireless latency averages latency rates of between 50ms to 10ms. 4G latency is likewise typically around 50ms. 5G will get it down to around 1ms. Latency measures the delay for a packet of information to be sent across the network. What this means is that 5G will be the first Internet connection option that operates at effectively real-time, so any applications where genuine real-time responses are required (think self-driving cars that need to continually monitor road conditions) will finally be possible 5G. The Number Of Connections 5G can handle around one million connected devices per .38 square miles, while 4G could only handle around 2,000. 5G will facilitate IoT, in other words, where thousands of connected devices will be in simultaneous operation within an organisation. How 5G Will Help Business For businesses, 5G, and the Fourth Industrial Revolution that it will herald in, will offer a broad range of benefits back to the enterprise, including: Automation And Greater Efficiencies By leveraging a vast network of connected devices, enterprises will be able to drive deeper and more complex automation across their operation. Think about warehouses where inventory is monitored and replaced in real-time without the need for human oversight, or those self-driving vehicles that would enable 24/7 operation. Edge Computing Edge computing is when a business has remote sites that are capable of their own real-time computing, without the need to send and receive all data from the cloud. Imagine a broadcasting company that deploys edge datacentres in key demographics and then, in real time, inserts highly-targeted ads into the feed, rather than relying on the broad targeting currently available. That will only be possible if the edge site is connected to the broader network in real time, to be able to effectively collaborate with it. Hardware No Longer Becomes Important Currently, for high-performance computing, you need expensive, high-performance computers. Thanks to the speed and near-negligible latency of 5G, however, the bulk of the processing can be done in the cloud, meaning the on-premises devices can be much more modest in spec. This in turn means that businesses can save significantly on high-performance equipment. Preparing For 5G If you have decided that 5G is the right technology for your business, and that you want to be part of the Fourth Industrial Revolution, there are a couple of things that you should do first to prepare your IT environment for the opportunities that 5G will unlock. Firstly, make sure your systems are ready for 5G. Your working environment should be largely cloud-based (and security should be strengthened across the network) and, critically, your storage and data environments should be ready for an explosion in information. You’ll also want to make sure that your environment is highly scalable, as you’ll find that consumption will increase rapidly with 5G. Secondly, you should train and prepare your people for the change. Any substantial change to a working environment can cause uncertainty and discomfort across the organisation, and as you start investing in automation, AI and other such “5G features,” people might be worried about their job security. Building a change management plan is essential for making the most of 5G. 5G promises enterprises of all sizes the opportunity to innovate and accelerate their businesses. Just as with each previous industrial revolution those that weren’t quick to move with the trends found their businesses highly disrupted and so, while 5G might still be a few years away from mainstream adoption currently, it would be a good idea to start to prepare for it now. About the Author Jacqui Coombe has been a prolific reader since childhood, and now channels her love of the written word into writing content on a range of topics from business, marketing and finance to travel and lifestyle. Jacqui is also a Principal Consultant specialising in Search + Content Marketing at international digital marketing agency Web Profits. Updated on Oct 22, 2021, 11:44 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 22nd, 2021

Align Technology (ALGN) to Post Q3 Earnings: What"s in Store?

Continued strong adoption of Invisalign Clear Aligners and iTero scanners is expected to contribute to Align Technology's (ALGN) third-quarter 2021 results. Align Technology, Inc. ALGN is set to report third-quarter 2021 results on Oct 27, after the closing bell.In the last reported quarter, the company’s adjusted earnings per share of $3.04 surpassed the Zacks Consensus Estimate by 20.6%. The company beat earnings estimates in the trailing four quarters, the average negative surprise being 87.27%.Factors to NoteInvisalign SystemFor the past few quarters, Align Technology has been registering impressive sales performances for Invisalign clear aligners and iTero imaging systems. This momentum is likely to have continued during the fiscal third quarter, courtesy of the resumption of practices globally. In the teen segment, the company has been experiencing improvement in Invisalign utilization and case submissions from Invisalign doctors with strong growth from North America and EMEA orthodontists due to gradual business recovery. These are likely to have contributed significantly to third-quarter revenues.Increasing adoption of Invisalign’s Virtual Care tools amid the pandemic has been encouraging. Adoption of the Align Digital and Practice Transformation or ADAPT program is likely to have continued during the to-be-reported quarter, on account of increasing digital practice optimization. Clear Aligner shipments were robust during the last-reported quarter due to increasing customer adoption. In the past few months, the company hosted several team-focused, peer-to-peer events designed to build clinical competence in teen treatment and highlight the teen digital treatment journey with Invisalign treatment, which have garnered positive feedbacks. This trend is expected to have strongly contributed to the company’s third-quarter sales.In July 2021, Align Technology expanded its presence in Israel with new facilities to support iTero scanner and services global operations and the adoption of digital orthodontics and restorative dentistry by furthering its industry-leading digital capabilities through iTero scanner innovation. The new product is likely to have witnessed strong costumer adoption, thus might get reflected in the third-quarter top line.The Zacks Consensus Estimate for Invisalign System’s revenues is pegged at $814 million, suggesting an improvement of 63.8% from the year-ago reported figure.Imaging Systems & CAD/CAM Services BusinessDuring the last-reported quarter, Align Technology launched the Creator Center -- the new exocad one-stop-shop for online and in-person educational events. The company also expanded its market coverage with a new global OEM partner -- Ivoclar Vivadent -- one of the largest manufacturers in the dental industry. This strategic collaboration offered Align Technology’s exocad to thousands of new users worldwide. This, in turn, has likely boosted the company’s top line during the third quarter.Align Technology, Inc. Price and EPS Surprise Align Technology, Inc. price-eps-surprise | Align Technology, Inc. QuoteDuring the second quarter, Align Technology introduced the new iTero Workflow 2.0 software and previewed the auto-upload functionality in the iTero Element 5D Imaging System, which were rolled out regionally in all markets where the iTero Element Plus imaging systems were sold. We believe this to have full-quarter contribution in the to-be reported quarter’s top line.The Zacks Consensus Estimate for this segment’s revenues is pegged at $158 million, suggesting growth of 39.8% from the year-ago quarter.Q3 EstimatesThe Zacks Consensus Estimate for third-quarter 2021 revenues is pegged at $962.3 million, indicating an improvement of 31.1% from the year-ago quarter.The same for earnings stands at $2.54 per share, suggesting a rise of 12.9%.What Our Model SuggestsPer our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here, as you can see:Earnings ESP: Align Technology has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: The company currently carries a Zacks Rank #3.Stocks Worth a LookHere are a few stocks worth considering, as these have the right combination of elements to beat on earnings this reporting cycle.Henry Schein, Inc. HSIC has an Earnings ESP of +0.31% and a Zacks Rank of 2. The company will release third-quarter 2021 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.West Pharmaceutical Services, Inc. WST has an Earnings ESP of +1.93% and a Zacks Rank of 2. The company is scheduled to release third-quarter 2021 results on Oct 28.Insulet Corporation PODD has an Earnings ESP of +37.17% and a Zacks Rank of 2. The company will announce third-quarter 2021 results on Nov 4. 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 Align Technology, Inc. (ALGN): Free Stock Analysis Report Henry Schein, Inc. (HSIC): Free Stock Analysis Report West Pharmaceutical Services, Inc. (WST): Free Stock Analysis Report Insulet Corporation (PODD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 21st, 2021

Will Higher Revenues Drive Corning"s (GLW) Q3 Earnings?

Corning's (GLW) performance in the third quarter of 2021 is likely to have benefited from positive momentum across all five business segments. Corning Incorporated GLW is scheduled to report third-quarter 2021 results on Oct 26, before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 3.9%.It is expected to have recorded year-over-year higher aggregate revenues on the back of positive momentum across all five business segments.Factors at PlayDuring the quarter, Corning announced a new category for its scratch-resistant and durable glass composite products — Gorilla Glass with DX and Gorilla Glass with DX+. The technology in mobile device cameras enables professional-grade image capture through a combination of advanced optical performance, superior scratch resistance, and durability.Corning announced a new product category for its Automotive Glass Solutions. The Curved Mirror Solutions have been integrated into an Augmented Reality Head-Up Display system by Hyundai Mobis. Compared with traditional technologies, Corning mirrors enable a larger display area across the windshield with a projection distance that is five times greater. Corning’s high-quality, distortion-free solutions are helping automakers to create the most immersive and connected driving experiences.The company introduced new high-performance cellular solutions to help network operators bring reliable 5G connection indoors with small-cell radio nodes that are easy to install and cost-effective. The in-building cellular products are part of Corning’s Everon Network Solutions — a suite of optical network components for enterprise deployment.Corning expanded its collaboration with AT&T by working together to extend investments in fiber infrastructure, expand U.S. broadband networks, and accelerate 5G deployment. Corning announced an investment of $150 million in optical cable manufacturing in North Carolina, extending its market leadership as demand for network infrastructure continues to grow. These developments are likely to have had a positive impact on Corning’s performance.The Zacks Consensus Estimate for the Optical Communications segment’s net sales is pegged at $1,110 million. The figure indicates a rise of 22.1% from the year-ago quarter’s reported figure. The higher projection reflects sales growth in both enterprise and carrier networks, driven by 5G, fiber-to-the-home, and cloud computing projects.The consensus estimate for Display Technologies sales is $944 million, which indicates a rise of 14.1% year over year. The performance is likely to have been driven by an increase in glass substrate prices.The consensus estimate for Specialty Materials sales is $575 million, which indicates growth of 0.9% year over year. The performance is likely to have been driven by demand for premium cover materials, strength in the IT market, and greater optical content in semiconductor manufacturing.The consensus estimate for Environmental Technologies sales is pegged at $410 million, which suggests growth of 8.2%. This reflects improving markets and more Corning content. Under this, automotive sales benefited from the adoption of gasoline particulate filters in Europe and China. Diesel sales benefited from the adoption of advanced exhaust after-treatment systems and strength in the North America heavy-duty truck market.The consensus estimate for Life Sciences sales stands at $309 million, which implies an increase from $223 million reported a year ago. This reflects a recovery in academic and pharmaceutical research labs and strong demand for bioproduction products and diagnostic-related consumables.For the September quarter, the Zacks Consensus Estimate for revenues is pegged at $3,665 million, which indicates growth of 21.9% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings per share is pegged at 58 cents, which suggests an increase of 34.9%.What Our Model SaysOur proven model doesn’t conclusively predict an earnings beat for Corning this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Earnings ESP: Corning’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +0.58%.Corning Incorporated Price and EPS Surprise Corning Incorporated price-eps-surprise | Corning Incorporated QuoteZacks Rank: Corning currently has a Zacks Rank #4 (Sell).Stocks to ConsiderHere are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:Perion Network Ltd. PERI is slated to release third-quarter 2021 results on Oct 26. It has an Earnings ESP of +8.57% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Boyd Gaming Corporation BYD is scheduled to release third-quarter 2021 results on Oct 26. The company has an Earnings ESP of +2.17% and a Zacks Rank #2.Acadia Realty Trust AKR has an Earnings ESP of +1.50% and a Zacks Rank #2. The company is set to report third-quarter 2021 results on Oct 26. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>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 Corning Incorporated (GLW): Free Stock Analysis Report Boyd Gaming Corporation (BYD): Free Stock Analysis Report Acadia Realty Trust (AKR): Free Stock Analysis Report Perion Network Ltd (PERI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 20th, 2021

Mastercard (MA) to Boost Businesses" Global Funds Transfer

Mastercard (MA) collaborates with Previse in a bid to accelerate cross-border payments of companies to suppliers. The move is likely to strengthen Mastercard's global presence. Mastercard Incorporated MA recently partnered with the AI fintech, Previse, to integrate its global push payments platform — Mastercard Cross-Border Services — into Previse’s InstantPay platform. The Mastercard platform facilitates hassle-free and secured transfer of cross-border funds directly into any account.Following the latest move, companies utilizing the InstantPay solution can avail the benefits of Mastercard Cross-Border Services. Businesses can now use bank accounts and digital wallets to conduct immediate and quick digital payments to suppliers stretched across more than 100 markets worldwide.Besides, the integration will enable businesses to lower transaction costs. They will also have access to the real-time exchange rates of local currency, which is crucial to businesses dealing with customers located in different markets.It is quite obvious that both Mastercard and Previse through the tie-up intend to address the numerous headwinds that businesses encounter related to delayed payments and age-old manual processes. Addressing these hindrances will, in turn, result in steady cash flows and pave the way for businesses to grow. Also, empowering businesses to receive quick digital payments in local currency will resolve the dismal situation wherein companies awaiting payments on pending invoices often resort to borrowing money at exorbitant rates to carry on business operations.The recent move reinforces Mastercard’s sincere efforts to promote enhanced digital business-to-business (B2B) payment offerings and consequently, revolutionize the payments landscape. In fact, Mastercard Cross-Border Services makes use of bank accounts, digital wallets, cards and cash agents for connecting 90% of the global population through a single and reliable access point. Meanwhile, Previse’s InstantPay seems to be the apt partner for complementing Mastercard’s endeavor in facilitating seamless business payments. Previse’s platform makes use of upgraded machine learning technologies for ensuring speedy payment of invoice amounts to suppliers.Initiatives similar to the latest one not only highlight Mastercard’s robust digital capabilities but also bolster its global footprint. The company has always promoted rapid adoption of digital means. In fact, a growing inclination of consumers toward digital means bodes well. A strong digital services portfolio enables the company to offer secured payment gateways for its massive customer base.To capitalize on the worldwide digital transformation efforts, Mastercard has been collaborating with several local and global well-established organizations, and undertaking significant investments to upgrade digital capabilities. This, in turn, has helped Mastercard in penetrating further into the underserved areas and facilitating enhanced management of global payments. The company remains the preferred choice of fintechs owing to its strong brand name, local knowledge, expanded capabilities, extensive network and global presence.Zacks Rank & Price PerformanceShares of Mastercard, which carries a Zacks Rank #2 (Buy), have gained 8% in a year against the industry’s decline of 4.6%.Image Source: Zacks Investment ResearchOther Stocks to ConsiderSome other top-ranked stocks in the financial transaction services space include Global Payments Inc. GPN, Visa Inc. V and Equifax Inc. EFX, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Global Payments, Visa and Equifax have a trailing four-quarter earnings surprise of 4.02%, 9.03% and 17.71%, on average, respectively. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>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 Mastercard Incorporated (MA): Free Stock Analysis Report Visa Inc. (V): Free Stock Analysis Report Equifax, Inc. (EFX): Free Stock Analysis Report Global Payments Inc. (GPN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 19th, 2021

Hybrid Cloud and GBS in Focus Ahead of IBM"s Q3 Earnings

International Business Machines' (IBM) third-quarter results are likely to benefit from healthy uptake of the company's hybrid cloud and AI offerings. International Business Machines Corporation’s IBM third-quarter results are likely to reflect the healthy adoption of hybrid cloud, Watson, and blockchain platforms.Additionally, the digital transformation wave has bolstered the adoption of cloud-based QRadar, and Identity and Trust services, and CloudPak for Security offerings.Moreover, IBM has been striving to enhance the efficiency of its blockchain solutions, and quantum computing systems and services. In this respect, the growing clientele of IBM Q Network has been a positive.International Business Machines Corporation Price and EPS Surprise International Business Machines Corporation price-eps-surprise | International Business Machines Corporation QuoteStrength in Red Hat to Favor Cloud BusinessSolid uptick in the company’s hybrid cloud computing capabilities, mobile, analytics, cognitive technologies and AI-related solutions is expected to get reflected in third-quarter revenues.For the third quarter, the Zacks Consensus Estimate for Cloud & Cognitive Software segment’s revenues-external is pegged at $5.74 billion. IBM’s Cloud & Cognitive Software segment reported revenues of $5.5 billion in the year-ago quarter.Particularly, synergies from the Red Hat acquisition are expected to have contributed to the Cloud & Cognitive Software segment’s revenues in the to-be-reported quarter.Revenues from Red Hat in second-quarter 2021 increased 20% (up 17% at cc) on a normalized basis. Currently, more than 3,200 clients are using Red Hat and IBM’s hybrid cloud platform.Management is optimistic about enhancing the utility of hybrid cloud services based on architecture built by IBM and Red Hat. On Sep 8, IBM and Sumo Logic announced the availability of Sumo Logic’s Continuous Intelligence Platform on Red Hat Marketplace. Sumo Logic will offer its cloud-native security and observability solutions for companies running on the Red Hat OpenShift platform, helping them to deploy faster and achieve insights into their cloud and hybrid infrastructures, applications, and services.Further, the company’s cloud for financial services and cloud for telecommunications (launched in November 2020) are expected to have witnessed steady traction and contributed to second-quarter top-line numbers.On Sep 22, IBM announced that financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and continue their work to develop digital-first solutions, ultimately aiming to broaden access to financial services on the continent.Markedly, SAP intends to onboard two of its finance and data management solutions to IBM Cloud for Financial Services to help accelerate IBM cloud adoption within the financial services industry. The collaboration will be designed to help the companies address the industry's stringent compliance, security and resiliency requirements, while supporting business transformation and innovation for financial services institutions.However, increasing expenses on enhancing cloud platform amid stiff competition from Microsoft MSFT Azure, Amazon’s AMZN Amazon Web Services and Oracle’s ORCL Oracle Cloud remain headwinds for this Zacks Rank #4 (Sell) company.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Cloud Paks Likely to Drive GBS Segment PerformanceRobust pipelines across hybrid cloud and data platform, AI solutions, and in Cognitive Apps business, driven by strength in Cloud Paks and Security, cloud-based transformation services in the Global Business Services (GBS) segment, and App modernization offerings, might have favored third-quarter performance.On Jul 20, IBM unveiled advanced data protection capabilities to the IBM FlashSystem family of all-flash arrays to help companies better plan for – and recover quickly from – ransomware and other cyberattacks.The acquisitions of 7Summits and Expertus are anticipated to have contributed to the segment’s performance in the to-be-reported quarter.The Zacks Consensus Estimate for GBS segment’s revenues-external in the third quarter is pegged at $4.31 billion. In the third quarter of 2020, IBM’s GBS segment had reported revenues of $3.96 billion.Adoption of z15 to Boost Systems SegmentThe company’s third-quarter results are likely to reflect gains from the rapid uptake of IBM z15. Also, segmental revenues pertaining to cloud may favor soon-to-be-reported quarter’s results.The Zacks Consensus Estimate for Systems segment’s revenues-external for the third quarter is pegged at $1.26 billion. IBM’s Systems segment had reported revenues of $1.25 billion in the year-ago quarter. 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 Amazon.com, Inc. (AMZN): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report International Business Machines Corporation (IBM): Free Stock Analysis Report Oracle Corporation (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 18th, 2021

Johann Polecsak: The Blockchain Will be Unhackable Until Quantum Computers Arrive

Blockchain’s inherent safety is commonly seen as one of its major benefits. However, it was seen most recently in the hack of $600 million worth of digital assets stolen from the Poly Network, that the platforms that sit on the blockchain –or indeed bridge different blockchains as well as the chains themselves– are not impervious […] Blockchain’s inherent safety is commonly seen as one of its major benefits. However, it was seen most recently in the hack of $600 million worth of digital assets stolen from the Poly Network, that the platforms that sit on the blockchain –or indeed bridge different blockchains as well as the chains themselves– are not impervious to threat. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {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 Another attack recently saw a cybercriminal exploiting a vulnerability in Ethereum Classic’s network in order to rewrite the data in its transaction history, leading to the hacker double spending the cryptos there and stealing over $1 million. The truth of the matter is that blockchains do have vulnerabilities, and these are proving to be an attractive target for savvy cyber-attackers. Further, the majority of hacks around cryptocurrency are phishing and malware attacks according to the FTC, but we can expect the number of on-chain hacks to go up by as much as 51% over the short term. Johann Polecsak, co-founder and CTO of QANplatform discusses how this can be prevented, and what the company is working on to offer a way out of the problem. The company raised a total of $2.8 million in funding over two rounds in June –in the VC round it raised $2.1 million with investments from Fairum Ventures, DeltaHub Capital, Insignius Capital, and BlackDragon. Where Does The Biggest Threat To The Blockchain Come From? IBM recently announced that they would release a 1,121+ qubit quantum computer that will break the cryptography behind 99% of today’s blockchain platforms. The most worrying and already proven part is that they will be able to break most asymmetric cryptography-related schemes, including the digital signature scheme used by bitcoin, Ethereum, and other cryptocurrencies. In short, we trusted these algorithms because incrementing the key size would increase the hardness of breaking it exponentially. Quantum computers will linearly tackle this, meaning doubling the key size will only need double the qubits to break. Everything we considered safe so far is gone for this reason. Proof Of Work (PoW) And Proof Of Stake (PoS) Are Common, But There Is An Alternative: The Proof Of Randomness (PoR) Algorithm. What Is It And Why Is It Better? While PoW is fully democratic, it is often more and more criticized for its humongous electricity consumption –which is a very valid point. PoS was born to mitigate issues arising from the aforementioned energy-wasting consensus mechanism, but it did not come without flaws. The validators need to stake their funds and in return they are permitted to validate blocks and receive rewards. The problem is that, mostly, the stakes also influence the weight of probability the validators get to process blocks, so it is a lot less democratic than Proof of Work. With PoR, security is of highest priority and the mechanism not only provides detection of any anomalies but can also actively prevent them. This means that if any validator would vouch for an otherwise invalid block for their own economic benefit, that operation would be immediately detected and prevented before sealing that block –and would of course result in an immediate ban of the given malicious validator chosen by PoR. What Is QANPlatform Working On About This? We implemented a post-quantum signature scheme which is used to cross-sign transactions for when quantum computers become available. We solve this issue by building integrations for existing and widely used and loved programming languages (Rust), DevOps technologies (Docker, Kubernetes), and Cloud platforms. Developers will build quantum-resistant smart contracts, DApps, DeFi solutions, tokens and cryptocurrencies, and NFTs on top of the QAN blockchain platform. Our mission is to build a future-proof blockchain platform, not just another one on the list. Quantum-resistant security is our USP, but we put an enormous focus on lowering the entry barrier for the developer community, so startups and enterprises can build their Proofs of Concept (PoC) and Minimum Viable Products (MVP) as fast as possible to accelerate mass adoption. How Do You Envision Blockchain Security Networks In The Next Five Years? One thing is for sure, there will certainly be more focus on blockchain security as the criminals step up their game and try to get one step ahead of the networks. We see the magic key to succeed on the blockchain market with a new product by lowering the entry barriers for the developer community: Learn a new language (Ethereum’s Solidity or Algorand’s TEAL) vs. use any other language you already mastered (QAN). It mostly takes hours to install any private blockchain vs. one-click containerized solutions. Deployment of dApps on Ethereum takes nowadays 500/1000+ USD as the ETH ecosystem does not incentivize writing and reusing software modules. It is an incredibly complex matter to design and build decentralized systems like blockchains, let alone making them financially viable for a decentralized community where every single participant type is financially motivated to act according to the sustainability requirements of such a system. Updated on Oct 18, 2021, 12:32 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkOct 18th, 2021

General Motors (GM) Strikes Deals With Wolfspeed and GE

General Motors (GM) inks deal with Wolfspeed to ensure long-term supply of silicon carbide solutions. The automaker also teams up with GE to create a critical supply chain for EV materials. General Motors GM and Wolfspeed, Inc. recently entered into a strategic agreement to develop and supply silicon carbide power device solutions for the automaker’s future electric vehicle (EV) programs. The U.S. auto giant also recently signed a non-binding memorandum of understanding with GE Renewable Energy (“GE”) to evaluate the opportunities for enhancing supplies of heavy and light rare earth materials and magnets.GM- Wolfspeed Team Up for Silicon Carbide SolutionsPer the deal with Wolfspeed, its technology will be used in integrated power electronics contained within General Motors’ Ultium Drive system for its upcoming EVs. Additionally, Wolfspeed’s silicon carbide devices will enable General Motors to install more efficient EV propulsion systems that will boost the range of its rapidly-widening EV product menu.North Carolina-based Wolfspeed dominates the market in the global adoption of silicon carbide and gallium nitride technologies. Wolfspeed’s product portfolio includes silicon carbide materials, power-switching devices and RF devices targeted for various applications, such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. Wolfspeed makes chips out of silicon carbide, which is more energy efficient than the standard silicon for tasks, such as transmitting power from an electric car's batteries to the motors.In addition to having more than 30 years of experience in the industry, Wolfspeed is currently building the largest silicon carbide semiconductor fabrication facility in the world in Marcy, NY. Scheduled to go online in 2022, this innovative facility will drastically enhance the capacity for the company’s silicon carbide technologies, demand for which is shooting up in the EV sector as well as in the other advanced technology sectors around the world.Amid the aggravating climate change concerns, automakers across the globe are transiting their fleet to EVs to enable zero-emission transportation. The rising adoption of silicon carbide as an industry-standard semiconductor for transportation supports the automotive industry’s goal of providing green transportation solutions. Silicon carbide provides enhanced system efficiency that results in a longer EV range, while reducing the weight and conserving space.The latest agreement is beneficial for both companies. For General Motors, it represents another step forward in its target to achieve an all-electric future. The EV customers are constantly on the lookout for a greater range, and silicon carbide is an essential material in the design of chips used in EVs. This deal provides assurance for a long-term supply of silicon carbide power device solutions.Moreover, the agreement showcases the automotive industry’s persistent commitment to bring innovative EV solutions to the market by taking advantage of the latest innovations in power management to enhance the overall vehicle performance. For Wolfspeed, this agreement ensures the long-term supply of silicon carbide to an auto giant to help them deliver their promise of an electrified future.As part of the agreement, General Motors will participate in the Wolfspeed Assurance of Supply Program (WS AoSP), aimed at procuring domestic, sustainable and scalable materials for EV production.The news of the deal comes as Wolfspeed changed its name from Cree Inc. Cree Inc’s shares previously traded on the Nasdaq Global Select Market, and the newly-renamed Wolfspeed will now trade on the NYSE.GM-GE Deal to Create EV Material Supply ChainThe primary focus of General Motors’ collaboration with GE will be on creating a critical supply chain of vertically-integrated magnet manufacturing in North America and Europe, which both companies will use in the future to reduce carbon emissions. The companies will also join forces to create new supply chains for additional materials, such as copper and eSteel, that are used in automotive traction motors and renewable power generation.Metal alloys and finished magnets are produced from rare earth materials and are crucial ingredients used in manufacturing electric motors for automotive and renewable power generation.GE has one of the broadest portfolios in the renewable energy industry that provides end-to-end solutions for customers demanding reliable and affordable green power. The deal with General Motors gives GE access to reliable, sustainable, and competitive source of key materials and aids the company to lower the cost of renewable energy. This will help accelerate the transition to clean energy by making EVs a more affordable option for consumers.A secure, sustainable, and resilient local supply chain for EV materials is the key to achieving General Motors vision of an all-electric future. The combined scale of both companies will enable them to procure low-carbon footprint, environmental-friendly, and cost-effective material for EVs.General Motors, peers of which include Tesla TSLA, Ford F and Stellantis N.V. STLA, currently carries a Zacks Rank of 4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): 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 7th, 2021

Ribbon (RBBN) Boosts Microsoft Teams With Professional Services

Ribbon (RBBN) and Microsoft (MSFT) extend partnership to integrate Professional Services capabilities in the latter's Operator Connect for enhanced Microsoft Teams service. Ribbon Communications Inc. RBBN has extended its partnership with Microsoft Corporation MSFT to power the latter’s Operator Connect platform and enable service providers to quickly expand and accelerate Microsoft Teams offerings.Considered to be a Microsoft Gold Communications Partner, Ribbon’s diverse range of Session Border Controllers (SBCs) and edge devices go hand-in-hand with Microsoft's networking requirements. This, in turn, reinforces Ribbon's existing relationship with the tech giant.Per the alliance, Ribbon’s Professional Services capabilities will be integrated into Microsoft’s recently launched Operator Connect platform. The Professional Services capabilities include Operator Connect API integration, configuration, provisioning, and automation support that will boost Ribbon’s Direct Routing certified SBCs.Together with Ribbon’s Direct Routing certified Operator Connect SBCs, the combination will enable service providers to get first-hand access to advanced tools that significantly minimize both time and resources to bring Operator Connect-based services to market. It also gives Ribbon a competitive edge over its rivals by reducing the risk of losing prime customers.Ribbon’s shares have gained 49.1% compared with the industry’s growth of 87.7% in the past year.Image Source: Zacks Investment ResearchMicrosoft Operator Connect is a new-age cloud-to-cloud interconnect solution that allows operators to provide SIP trunk connectivity to Microsoft Teams deployments. The platform enables Microsoft Teams administrators to acquire, deploy and manage SIP trunks from inside the Teams application. It boasts a simplified deployment model and bolsters Teams phone system adoption.Operator Connect streamlines the interconnection between Teams and the PSTN (public switched telephone network). Ribbon has been a Microsoft partner since 2007 and its market-leading SBC portfolio has always supported the latter’s technological requirements with greater reliability and scalability. Its extensive SBC portfolio supports multiple Microsoft Teams calling deployment models.Some of its core SBCs are SBC 7000, SBC Software Edition and SBC 5400. These offerings are crucial for Operator Connect deployments, thanks to their carrier-grade resiliency and interoperability. Ribbon also facilitates enterprise Teams Deployments on the back of its SBC 2000, SBC Software Edition Lite and EdgeMarc Intelligent Edge portfolio.Driven by such technical know-how and consistent support, the partnership will pose a win-win situation for both the entities by accelerating the adoption rates of Microsoft’s Operator Connect solution, in turn, supporting service providers as Ribbon onboards the solution.Moving ahead, Ribbon intends to remain focused on delivering real-time and secure data as well as voice network capabilities for the cloud, network, and enterprise edge. The Plano, TX-based communications services developer intends to augment its scale, total addressable market and global footprint in service provider networks, enterprises, and critical infrastructure companies. This will help the company to expand its relationships with fixed and mobile service providers, while enabling it to capitalize on the high-growth 5G market for lucrative cash flow.Zacks Rank & Stocks to ConsiderRibbon currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader industry include Ooma, Inc. OOMA and SeaChange International, Inc. SEAC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Ooma delivered a trailing four-quarter earnings surprise of 55.2%, on average.SeaChange International delivered a trailing four-quarter earnings surprise of 28.9%, on average. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report SeaChange International, Inc. (SEAC): Free Stock Analysis Report Ooma, Inc. (OOMA): Free Stock Analysis Report Ribbon Communications Inc. (RBBN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 7th, 2021

Tech Innovators Lead The Charge To Ensure Bitcoin Adoption In El Salvador Is A Success

Open Bank Project, API3, Qredo & Sovryn Form Alliance with Banco Hipotecario to Power Bitcoin Adoption in El Salvador Q3 2021 hedge fund letters, conferences and more The Next Generation Of Blockchain Applications Berlin, XX October 2021 — A new alliance between Banco Hipotecario, TESOBE – the company behind the Open Bank Project – API3, […] Open Bank Project, API3, Qredo & Sovryn Form Alliance with Banco Hipotecario to Power Bitcoin Adoption in El Salvador if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more The Next Generation Of Blockchain Applications Berlin, XX October 2021 -- A new alliance between Banco Hipotecario, TESOBE - the company behind the Open Bank Project - API3, Qredo and Sovryn will bring forth the next generation of Blockchain applications offering open banking solutions to provide financial inclusion to all in El Salvador. El Salvador's groundbreaking Bitcoin Law entered into force on September 7, 2021, introducing unfamiliar challenges for traditional financial institutions as well as more specific consumer needs related to bitcoin storage and currency exchange. Together, leaders in the blockchain space will utilize their resources and knowledge to facilitate a smooth adoption of bitcoin as legal tender, ensuring citizens reap the benefits of digital banking and national infrastructure can handle this momentous change. Banco Hipotecario, a national bank with a commercial focus, joined forces with the Open Bank Project and API3 to assess and facilitate solutions for Salvadorans and the financial service sector. API3 and Open Bank Project 10-year partnership has set major ambitions to merge traditional and decentralized industries. With Banco Hipotecario, the joint-partnership hopes to realize the potential for end-to-end open digital systems. The alliance has selected Qredo's decentralized custodial infrastructure to power bitcoin banking solutions in El Salvador. Alongside this, Sovryn, the Bitcoin-native decentralized trading and lending platform will provide the infrastructure to enable traditional banks to o er Bitcoin-native DeFi products such as lending, trading and Bitcoin backed-stablecoins to their customers. The collective aim is to accelerate the democratization of Bitcoin electronic payments and help citizens enjoy the benefits of digital and decentralized transactions. It will also support the nation’s larger financial framework to promote a smooth and effective integration of Bitcoin as legal tender, driving financial inclusion for Salvadorans. Bitcoin Adoption In El Salvador The Bitcoin phenomenon is propagating across Latin America. By leveraging Qredo’s revolutionary crypto infrastructure, which is entirely compatible with the Bitcoin Lightning Network used in El Salvador, combined with Sovryn’s ability to build on bitcoin, TESOBE’s APIs and API3’s Airnode, this alliance will support El Salvador’s seamless transition into a crypto-friendly financial services system. “This alliance is a great opportunity for El Salvador to create new financial products that support the needs of our Salvadoran citizens,” said Celina Padilla, president of Bank Hipotecario de El Salvador. “We are closer than ever to achieving true financial inclusion and I am proud that Banco Hipotecario is the first bank at the national level to carry out this type of alliance. Now everyone has their eyes on our country and on our bank.” “We are super excited and grateful for the opportunity to assemble this advanced Crypto Banking infrastructure, which will act as the foundation for a new breed of financial services in El Salvador,” says Simon Redfern, CEO of TESOBE and founder of the Open Bank Project. “Our combined technologies will help Banco Hipotecario deliver more transparent and inclusive financial services to Salvadorans – especially the underbanked part of the population – and will remove many of the uncertainties that stand between El Salvador and the advantages of cryptocurrency adoption.” “API3 is incredibly excited to announce this alliance and we can’t wait to see the synergies between these leading technologies in action. As the world’s financial system is modernized, we will help build a foundation for the future of digital banking that can easily be adapted to fit the needs of those who will benefit from it most,” says Heikki Vänttinen, Co-Founder at API3. "We are glad to get in at the ground zero of global bitcoinization," says Anthony Foy, Qredo CEO. “Qredo brings the scalability and instant settlement to underpin bitcoin banking infrastructure, making it possible to adopt crypto assets securely on a national scale, with none of the governance limitations imposed by private keys." Edan Yago, core contributor at Sovryn, commented: “With its adoption of Bitcoin, El Salvador has chosen to rewrite the script of its national finance system and to blaze a trail for other nations to follow. DeFi is now coming to the world and Sovryn is playing a crucial part in these early practical steps towards making Bitcoin adoption a reality in El Salvador and beyond.” About Banco Hipotecario de El Salvador Banco Hipotecario de El Salvador, a national bank with a commercial focus, offers a wide range of banking products and services such as consumer and corporate loans, savings accounts, credit and debit cards, and related financial services to individuals, small- and medium-sized enterprises and large corporations. About the Open Bank Project Led by Berlin-based software company TESOBE GmbH, the Open Bank Project is the leading API Management platform for banks that want to ensure a rapid and secure enhancement of their digital offerings. The Open Bank Project assists banks in deploying Open Banking platforms by providing access to over 450 standardised APIs, used by our vibrant global community of over 11,000 developers. About API3 The API3 Foundation is a Decentralized Autonomous Organization (DAO) that builds decentrally governed and quantifiably secure data feeds to power Web 3.0 applications without employing third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPIs are fully decentralized and blockchain-native APIs with quantifiable security. About Qredo Qredo is a decentralized digital asset management infrastructure and product suite designed to unlock new opportunities for institutional investors in digital assets and decentralized finance. Qredo's Layer 2 blockchain protocol enables users to seamlessly transfer and settle BTC, ETH, and ERC-20 tokens. Assets are secured by Qredo’s advanced Gen 2.0 multi-party computation (MPC), which provides tier-1 bank security and institutional-grade governance. About Sovryn Sovryn is a Bitcoin-native financial operating system that allows people to utilize their Bitcoin in decentralised applications. The Sovryn protocol provides an infrastructure using layer-2 technologies for the next generation of DeFi. For more details about the Sovryn tech stack, its use cases, and the SOV token see the Sovryn Black Paper. (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 7th, 2021