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IEA: Europe Should Prepare For Complete Russian Gas Shutdown

IEA: Europe Should Prepare For Complete Russian Gas Shutdown By Irina Slav of OilPrice.com Europe should prepare for a complete suspension of Russian natural gas deliveries, the head of the International Energy Agency told the Financial Times in an interview. “Europe should be ready in case Russian gas is completely cut off,” Fatin Birol told the FT. “The nearer we are coming to winter, the more we understand Russia’s intentions,” he added. “I believe the cuts are geared towards avoiding Europe filling storage, and increasing Russia’s leverage in the winter months.” As a means of countering the worst effects of such a scenario, Birol advised European governments to keep nuclear power stations running and take other contingency measures, too. These other contingency measures seem to focus on demand. “I believe there will be more and deeper demand measures [taken by governments in Europe] as winter approaches,” Birol told the FT, adding gas rationing was a distinct possibility in case of further cuts to Russian gas supplies. In the past three months, Russia has cut off supply to several European countries that refused to pay for gas in rubles. It has also substantially reduced the flow along the Nord Stream, effectively cutting off supply to France and reducing flows to Germany by some 60 percent. Gazprom and its equipment maintenance service provider Siemens Energy have blamed the reduction on a turbine delivery delay resulting from new Canadian sanctions against Moscow. Germany has blamed Gazprom. The European Union’s largest economy is facing a certain recession in case Russian gas flows stop completely, an industry body warned this week. BDI cut its growth projection for Germany to 1.5 percent from 3.5 percent for this year and said that if Russia cuts off the gas, the economy will inevitably slip into a recession. Meanwhile, to make up for lost gas supply, Germany, Austria, and the Netherlands are restarting coal power plants. The IEA’s Birol defended the move in his FT interview, saying the restart was temporary and whatever the increase in emissions, it would be offset by future renewable energy capacity. Tyler Durden Thu, 06/23/2022 - 06:30.....»»

Category: blogSource: zerohedgeJun 23rd, 2022

Elon Musk keeps attacking Jeff Bezos over the billionaires" rival space companies. Here"s a history of the Tesla CEO"s weirdest beefs, including with Azealia Banks and Pablo Escobar"s brother.

Musk has got into spats and even long-running feuds with an eclectic bunch of people, often over his preferred medium of Twitter. Tesla CEO Elon Musk has a history of strange spats. Getty Images Elon Musk has a habit of getting into bizarre fights. Recently he's been attacking Jeff Bezos over the billionaires' rival space companies. Bezos is one of an eclectic bunch of people Musk has feuded with, including rapper Azealia Banks. See more stories on Insider's business page. Elon Musk has a serious combative streak.The Tesla and SpaceX CEO is famously unpredictable as chief executives go, a personality trait which has sometimes landed him in trouble - particularly with the US Securities and Exchange Commission.But Musk's combative side doesn't just express itself in skirmishes with government bodies. The Tesla billionaire has ended up in bizarre spats with a strange array of people - from fellow billionaires to artists to rescue divers - and often via his preferred medium of Twitter.Recently, he has repeatedly attacked Amazon founder Jeff Bezos, whose space exploration company Blue Origin has been a thorn in the side of Musk's rival company SpaceX.The twists and turns in the stories of Musk's various battles are often baffling, and it can be hard to remember all the different ways Musk has squared up to various public figures and regular citizens.We've catalogued his weirdest fights. In May 2020 Musk challenged Alameda County officials to arrest him for reopening the Tesla factory during the coronavirus pandemic. AP Photo Reports surfaced in May 2020 that Tesla was asking workers in its California factory to return to work despite Alameda County's shelter-in-place order forbidding the factory from re-opening as only essential businesses are allowed to operate in California due to the coronavirus pandemic.Musk confirmed the reports on May 11 in a tweet. "Tesla is restarting production today against Alameda County rules, I will be on the line with everyone else. If anyone is arrested, I ask that it only be me." Tesla threatened to sue Alameda County. The view of Tesla Inc's US vehicle factory in Fremont, California Reuters Tesla's suit hinged around the fact that California Gov. Gavin Newsom said manufacturers in the state would be allowed to reopen, but Alameda County extended its shelter-in-place order only allowing essential businesses to open.Tesla's suit argued that Alameda County's forced shutdown ignored an order from California Gov. Gavin Newsom allowing businesses from "16 crucial infrastructure industries" to remain open, one of which is transportation.The fight prompted Musk to leave California altogether. "Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen on how Tesla is treated in the future. Tesla is the last carmaker left in CA," Musk tweeted in May 2020.This prompted California Assemblywoman Lorena Gonzalez to tweet: "F--- Elon Musk."Musk confirmed in December 2020 he had moved to Texas. Alameda County gave the Tesla factory the go-ahead to reopen on May 13, 2020. Alameda County officials said on May 13 Tesla would be allowed to reopen its Fremont factory so long as it implemented robust safety plans for its workers, and a Tesla executive sent a letter to employees saying it would resume "full production" the following week.Tesla dropped its lawsuit against Alameda County the same week it resumed production. Musk picked numerous fights over the severity of the coronavirus. Elon Musk speaks during the Satellite 2020 at the Washington Convention Center on March 9, 2020, in Washington, DC. Brendan Smialowski / AFP via Getty Images Musk has consistently espoused the theory that the threat posed by the coronavirus is overblown, and tweeted misinformation about the virus including that children are "basically immune."He has also been openly hostile towards state lockdowns, calling them "fascist," and questioned the official death count as it includes people with underlying health conditions.As Business Insider's Dave Mosher and Aylin Woodward write, Musk's rhetoric is dangerously misguided. Scientific evidence overwhelmingly suggests lockdowns help curb the spread of the virus and slow the death rate, and underlying health conditions make people more vulnerable to the virus, and so should not be discounted from death tolls. Musk's frustrations were tied to Tesla's fortunes. A worker descends from the top deck of a car carrier trailer carrying Tesla electric vehicles at Tesla's primary vehicle factory after CEO Elon Musk announced he was defying local officials' coronavirus disease (COVID-19) restrictions by reopening the plant in Fremont, California on May 11, 2020. REUTERS/Stephen Lam Musk said during Tesla's Q1 2020 earnings call that the forced closure of the Tesla factory posed a "serious risk" to business."I should say we are a bit worried about not being able to resume production in the Bay Area, and that should be identified as a serious risk," Musk said.During the same call, Musk went on a tirade against lockdowns in general. "I would call it forcibly imprisoning people in their homes against all their constitutional rights. That's my opinion, and breaking people's freedoms in ways that are horrible and wrong and not why people came to America or built this country — what the f---. Excuse me, the outrage. It's just outrage," Musk said. In 2018 Musk called a complete stranger "pedo guy." British caver Vernon Unsworth looks to Tham Luang cave complex during a search for members of an under-16 soccer team and their coach, in the northern province of Chiang Rai, Thailand, June 27, 2018 REUTERS/Soe Zeya Tun Vernon Unsworth is a British diver who participated in the rescue of 12 Thai boys and their soccer coach from a flooded cave system in June 2018. It was a difficult, complex operation and the boys were successfully rescued after being trapped for 17 days by international divers and Thai Navy SEALs. Unsworth, an experienced cave explorer, was asked by Thai officials to aid in the rescue.He had never met Elon Musk, but would go on to spend most of 2019 locked in a legal battle with the Tesla billionaire.Musk had inserted himself into the Thai rescue operation and offered to build a mini-submarine to fetch the boys. The idea never materialized.Unsworth was asked about Musk's submarine in an interview with CNN, and described it in unflattering terms, describing it as a PR stunt. He added that Musk could "stick his submarine where it hurts."That angered Musk, who subsequently wrote a post on Twitter calling Unsworth a "pedo guy." When a Twitter user challenged him over it, he replied "bet ya a signed dollar it's true."His remarks immediately triggered headlines around the world, despite the fact he provided no proof for the "pedo" claim. Musk doubled down on the allegation by emailing BuzzFeed reporter Ryan Mac and calling Vernon Unsworth a "child rapist", with no evidence. Brendan McDermid/Reuters Censured by critics for using the slur, Musk deleted his tweet and apologised, but he didn't leave it there. A month later he responded to a Twitter user who criticised him. "You don't think it's strange he hasn't sued me? He was offered free legal services," Musk tweeted, referring to Unsworth.Then in September 2018, he doubled down. BuzzFeed reporter Ryan Mac emailed Musk asking for comment on a legal threat made by Unsworth's lawyer. Musk replied, suggesting Unsworth was a "child rapist" and "I hope he fucking sues me." Musk prefaced the email to Mac with "off the record," but the journalist had never agreed to go off the record, and published the entire exchange. Documents later revealed Musk called himself a "fucking idiot" for sending the email to Mac in the first place.A few weeks after Mac's article was published Unsworth sued Musk for defamation. Court filings revealed Musk hired a detective to investigate Unsworth - but the PI turned out to be a conman. Chicago Mayor Rahm Emanuel listens to engineer and tech entrepreneur Elon Musk of The Boring Company talks about constructing a high speed transit tunnel at Block 37 during a news conference on June 14, 2018 in Chicago, Illinois. Joshua Lott/Getty Images The case threw up some bizarre findings.Court filings revealed that Musk paid a man named James Higgins-Howard $50,000 to investigate Unsworth and relay reports to Musk's family office.Higgins-Howard emailed Musk out of the blue following the initial "pedo guy" tweet to offer his services as a private detective. "You may want to dig deep into Mr. Unsworth['s] past to prepare for his defamation claim," Higgins-Howard wrote, adding "no smoke without fire!"Higgins-Howard didn't find any evidence, however, and BuzzFeed's Ryan Mac later reported that the would-be PI had previously been convicted of fraud. Musk admitted in a deposition that he later realised Higgins-Howard was "just taking us for a ride."In depositions Musk has also argued that by calling Unsworth "pedo guy" he wasn't literally accusing him of being a pedophile because the term was used to be synonymous with "creepy old man" when he was growing up in South Africa. He also claimed he was genuinely worried Unsworth could be "another Jeffrey Epstein."The trial began on December 3, 2019.   On December 6, 2019, Elon Musk won the defamation case. Elon Musk arriving at court in California. AP Photo/Mark J. Terrill After a four-day trial in California, the jury found Musk not guilty of defamation.The jury took less than half an hour to reach their decision, which reportedly hinged on the fact that Musk did not identify Unsworth in his tweet, according to the Times of London.The foreman also said that Unsworth's lawyers had made the case too emotive. "The failure probably happened because they didn't focus on the tweets... I think they tried to get our emotions involved in it. In a court of law you have to prove your case, which they did not prove," said foreman Joshua Jones, per The Guardian."My faith in humanity is restored," Musk said following the verdict.Unsworth's lawyer Lin Wood said in a tweet that his team would "explore legal options" for challenging the verdict.  In June 2018, Musk took a liking to some farting unicorn art but didn't pay for it, leading to a copyright dispute with a potter. Tom Edwards' farting unicorn mug. Tom Edwards, Wallyware  Musk locked horns with another unlikely member of the public in June 2018.Colorado-based potter Tom Edwards caught Musk's attention with a mug. The mug carried a painting of a unicorn farting rainbows to power an electric car. Musk tweeted a picture of a mug in February 2017 calling it "maybe my favorite mug ever." Two months later friends of Edwards' told him they had seen the same farting unicorn image used as an icon on Tesla screens, and the image was later used on Tesla's company Christmas cards.The Christmas card spurred Edwards into action. "I decided to make it my New Year's resolution to pursue getting compensation, because artists are always seeing their work just taken, and it happens all the time," he told Insider in June 2018.In later-deleted tweets Musk attacked Edwards, saying taking legal action would be "kinda lame.""If anything, this attention increased his mug sales," he said. Musk also claimed (also in subsequently deleted tweets) to have offered to pay for the work twice. Edwards said he'd had no contact from Musk or Tesla at that point. Despite Musk's protestations, the two eventually settled. Brendan McDermid/Reuters A month after the farting unicorn argument erupted on Twitter, Musk and Edwards came to a settlement. The terms of the settlement were not made public, but Edwards posted on his blog that it "resolves our issues in a way that everyone feels good about.""It's clear there were some misunderstandings that led to this escalating, but I'm just glad that everything has been cleared up," he added.Musk for his part tweeted a link to the blog accompanied by three emojis: a unicorn, a gust of wind, and a peace symbol.—Elon Musk (@elonmusk) July 21, 2018  Azealia Banks waded into Tesla's regulatory troubles in August 2018. Rapper Azealia Banks became embroiled in Elon Musk's infamous "funding secured" saga. Getty On August 7, 2018, Elon Musk sent his infamous "funding secured" tweet, in which he claimed to be taking Tesla private at $420 a share.Tesla did not go private, and Musk landed himself with a $20 million fine from the Securities and Exchange Commission (SEC) for the tweet. He lost his position as chairman of Tesla's board, leading to long-running bad blood with the agency.It triggered another unlikely feud with rapper Azealia Banks.A week after Musk sent his fateful Tweet, Banks wrote on her Instagram that she had been at Musk's house at the time when he'd sent it. She had visited to collaborate with Musk's then-partner Grimes (real name Claire Boucher), and claimed she had been annoyed when the crisis caused by "funding secured" dominated Grimes' time."I waited around all weekend while grimes coddled her boyfriend," Banks wrote, and compared the weekend to the horror film "Get Out.""I saw him in the kitchen tucking his tail in between his legs scrounging for investors to cover his ass after that tweet," Banks told Insider at the time.   Banks accused Musk of taking her phone. Getty Images On August 20, Banks was back on Instagram, tagging Elon Musk. Banks posted "@elonmusk you need to contact me. ASAP." and "I need my phone back now.  @elonmusk," on her Instagram story — she later deleted the posts.Banks then shared a screenshot with Insider that appeared to show a text from Grimes saying the choice of share price ($420) was a weed reference. "He just got into weed cuz of me and he's super entertained by 420 so when he decided to take the stock private he calculated it was worth 419$ so he rounded up to 420 for a laugh and now the sec is investigating him for fraud," the text read.Musk told The New York Times that he rounded up the price because $420 had better "karma" than $419, and denied using weed. Musk didn't really respond publicly to Banks except to say he had never met her. Reuters / Rebecca Cook Musk told Gizmodo that he hadn't met Banks "or communicated with her in any way," but confirmed to the New York Times that he had seen her at his house."I saw her on Friday morning, for two seconds at about a 30-foot distance as she was leaving the house... I'd just finished working out. She was not within hearing range. I didn't even realize who it was. That's literally the only time I've ever laid eyes on her," he told the Times. The Banks-Musk feud dragged on for months after the story blew up. Isaiah Trickey/FilmMagic In January 2019, a court granted a motion to subpoena Banks, Grimes, and publications including Insider.In July 2021 Grimes posted in a Discord chat that she'd written a song, called "100% Tragedy," which was about "having to defeat Azealia Banks when she tried to destroy my life."Musk announced in September 2021 that he and Grimes had broken up after three years together. Banks responded to the news on her Instagram, saying: "Ok girl, can we finally make those darn songs now that apartheid Clyde is out of the way?"The nickname "Apartheid Clyde" is an apparent reference to Musk's South African upbringing. Musk was accused of stealing an idea from Pablo Escobar's brother in July 2019. Roberto Escobar (left). YouTube Musk ended up in a spat with Roberto Escobar, brother of deceased Colombian drug kingpin Pablo Escobar, over an accusation of intellectual property theft.TMZ first reported that Escobar had accused Musk of stealing his idea for a flamethrower when Musk's venture The Boring Company announced its "Not-A-Flamethrower" flamethrower in January 2018, beating Escobar's own flamethrower to market.Escobar claimed to TMZ that one of Musk's engineers had stolen the idea while visiting an Escobar family compound in 2017. "It's not a flamethrower, Mr. Escobar." iJustine/YouTube/Joe Rogan Experience Elon Musk responded to the story in classic Muskian style — on Twitter.Musk tweeted a link to the TMZ story accompanied by the words, "It's not a Flamethrower, Mr. Escobar," a tongue-in-cheek reference to the device's name.—Elon Musk (@elonmusk) July 11, 2019In a follow-up tweet he added he stole the idea from the comedy movie "Spaceballs." Musk has traded jibes with Amazon CEO Jeff Bezos about which parts of space to conquer. Jeff Bezos unveils Blue Moon, a lunar lander designed by his spaceflight company, Blue Origin, on May 9, 2019. Blue Origin Jeff Bezos owns a space exploration company called Blue Origin, a rival to Musk's own space exploration company SpaceX.Bezos and Musk have sporadically interacted about their companies' successes, sometimes applauding each other, but more often locking antlers.When Blue Origin unveiled its new lunar lander Blue Moon in May 2019 Bezos reportedly took a swipe at SpaceX's plans to colonize Mars during his presentation, saying that the moon was a much more realistic prospect. According to Bloomberg, Bezos showed a slide with a picture of Mars accompanied by the labels "Round-trip on the order of years" and "No real-time communication."Musk responded by mocking the lander's name."Competition is good. Results in a better outcome for all... But putting the word "Blue" on a ball is questionable branding," Musk said in a pair of tweets on May 10, 2019. Musk also called Bezos a "copycat" over his plan to launch thousands of satellites. Clodagh Kilcoyne/Reuters In April 2019, Amazon announced its plan to launch 3,236 satellites with the aim of providing broadband to communities without high-speed internet, nicknamed Project Kuiper.The project bears some resemblance to a SpaceX project called Starlink, which won FCC approval in November 2018 to launch almost 12,000 satellites into orbit. CNBC also reported that Amazon hired a former SpaceX executive to head up Kuiper.After news of Project Kuiper broke, Musk tagged Bezos and tweeted the word "copy" followed by a cat emoji.—Elon Musk (@elonmusk) April 9, 2019Bezos did not respond.  Musk tweeted in June 2020 that Amazon should be broken up after it de-listed a book written by a coronavirus skeptic. AP Photo/Pablo Martinez Monsivais When Amazon's Direct Kindle Service refused to publish a book called "Unreported Truths about COVID-19 and Lockdowns," it caught Musk's eye.The author of the book, Alex Berenson, is a former New York Times reporter who has written claiming the threat posed by the coronavirus has been overblown.Musk, who has also been vocal in his opinion that the virus was not dangerous enough to warrant lockdown measures (despite evidence to the contrary) spotted a tweet by Berenson presenting the email he got from Amazon saying his book did not comply with its guidelines."This is insane @JeffBezos. Time to break up Amazon. Monopolies are wrong!" Musk tweeted.—Elon Musk (@elonmusk) June 4, 2020 Amazon later confirmed to Business Insider the book had been removed in error and would be reinstated.  In mid-2021 Musk started attacking Bezos repeatedly claiming the Amazon founder retired so he could sue SpaceX. Blue Origin CEO Jeff Bezos (left) and SpaceX CEO Elon Musk. Joe Raedle/Getty Images/Axel Springer On August 26, Elon Musk tweeted saying Bezos had "retired in order to pursue a full-time job filing lawsuits against SpaceX."Musk repeated the joke on September 1, and during an interview at the Code Conference on September 28 said he can't "sue your way to the moon."These attacks were prompted by both Amazon and Blue Origin mounting challenges against SpaceX.Amazon filed a protest letter with the Federal Communications Commission (FCC) in August 2021 urging it to block SpaceX's Starlink from putting up more satellites.Blue Origin also sued NASA in August after the agency granted an exclusive moon-lander contract to SpaceX.While Bezos tends not to engage personally in his feud with Musk, Amazon and Blue Origin have openly criticized Musk's companies. Amazon sent an unprompted 13-page list to The Verge of all the legal actions SpaceX has taken stretching back as far as 2004, claiming it showed SpaceX is just as litigious as itself. In a complaint submitted to the FCC on September 8 Amazon also said: "The conduct of SpaceX and other Musk-led companies makes their view plain: rules are for other people, and those who insist upon or even simply request compliance are deserving of derision and ad hominem attacks." Musk has a long-running animosity towards David Einhorn, a billionaire short seller he loves sending short shorts to. Greenlight Capital president David Einhorn. REUTERS/Brendan McDermid Musk has a pretty well-documented hatred for short sellers, tweeting in October 2018 "what they do should be illegal."One short seller, in particular, has drawn Musk's ire. David Einhorn is president of Greenlight Capital, and is typically pretty scathing in his notes about Tesla and Musk.When Einhorn blamed Tesla's good performance in the first half of 2018 for denting Greenlight's hedge fund, Elon Musk promised to send him a box of "short shorts" — and he followed through.—David Einhorn (@davidein) August 10, 2018In November 2019, Musk renewed the offer of short shorts after Einhorn published a damning note on Tesla's Q3 results, drawing attention to a shareholder's lawsuit against Tesla, which alleges that Musk acquired his cousin's company SolarCity at an inflated value to bail it out.Musk posted an incredibly sarcastic note on Twitter following Einhorn's letter, addressing him as "Mr. Unicorn." Einhorn is German for unicorn. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 1st, 2021

Record-Setting Run Continues Despite Low Volume

Record-Setting Run Continues Despite Low Volume We saw another low volume, slow grind higher on Wednesday, but the small advances still kept the market on its record-setting pace as investors prepare for the beginning of the virtual Jackson Hole Economic Symposium. “The market didn’t even feel like it was open today, but we still managed to grind out a positive session,” said Jeremy Mullin in Counterstrike. “This is Christmas Eve or day after Thanksgiving volumes so you can get why I’m poking fun at the inactivity.” The S&P was the “big” winner today with a gain of 0.22% to 4496.19, while the NASDAQ spent its second session above 15K by advancing 0.15% (or about 22 points) to 15,041.86. Each of these indices now have five-day winning streaks. Furthermore, the S&P has closed at record highs in the past two sessions, while the NASDAQ has done so in the past three. The Dow is on a nice four-day run of its own after rising 0.11% (or nearly 40 points) to 35,405.50, or about 0.6% away from making its own new high that was set just a week-and-a-half ago. The index got a little roughed up after last Wednesday’s Fed minutes from its July meeting, which saw several members warm up to changing the monetary policy. And those minutes are why people are biting their fingernails over the virtual Jackson Hole meeting, which starts tomorrow. Will some sort of taper timeline be announced on Friday when Fed Chair Jerome Powell makes his remarks? Investors know its on the horizon, but don’t want a change to come too soon while the delta variant is still having an impact.   In other news on Wednesday, the latest retailer to make noise in the market was DICK’S Sporting Goods (DKS), which rose 13.3% after a strong second quarter report. EPS beat the Zacks Consensus Estimate by more than 81%, while revenue jumped over 20% year over year and also topped expectations. And after the bell today, salesforce.com (CRM) also reported strong quarterly results with a positive earnings surprise of more than 62%. Shares of this CRM software giant are up more than 2.6% after hours, as of this writing. Today's Portfolio Highlights: Home Run Investor: A lot of people used the shutdown to go back to school, which explains why Stride (LRN) had such a great financial performance throughout the pandemic. LRN is a career learning business that has beaten the Zacks Consensus Estimate for the past seven consecutive quarters with an average surprise of 69% over the past four. And analysts expect this success to continue. Rising earnings estimates have made LRN a Zacks Rank #1 (Strong Buy). Even with topline growth of 47% in its most recent quarter, the company still trades at 16x forward earnings. With net margins moving higher and growth expected to continue, Brian wouldn’t be surprised if LRN runs to $50 before the end of the year. Read the complete commentary for more on this new addition. ETF Investor: With $55 billion earmarked for water in the infrastructure bill, Neena saw a good time to invest in this “precious commodity with a limited supply”. On Wednesday, the editor added Invesco Water Resources ETF (PHO), which is the most popular water ETF with $1.97 billion in assets and a reasonable expense ratio of 60 basis points. Needless to say, PHO invests in companies focused on conserving and purifying water. The editor also decided to sell the Global X Telemedicine & Digital Health ETF (EDOC) for a slight loss after lagging in the portfolio for a while. Read the full write-up for more. Commodity Innovators: Three names were added on this busy Wednesday, including two from agriculture and one from energy. Lindsay Corp. (LNN) is a Zacks Rank #2 (Buy) that’s focused on water management and road infrastructure, but it’s the former business that Jeremy is most interested in. The irrigation segment helped the company post a 32% earnings beat most recently and has the editor thinking of new highs before the end of the year. Speaking of crops, the portfolio also picked up Teucrium Corn ETF (CORN) because corn futures are showing resilience under the 200-day and should be strong heading into winter. Finally, it may be weird to think about the colder months during a heatwave, but natural gas has been soaring and may hit highs set back in 2018. The editor added exposure through ProShares Ultra Bloomberg Natural Gas (BOIL), which moves 2X the daily move of natural gas. LNN and CORN are seen as long terms, while BOIL is a short term. Read the full write-up for more. Surprise Trader: This earnings season has seen several strong retail reports, including DICK’S Sporting Goods (DKS) today. Dave is feeling much more comfortable in the space and added Abercrombie & Fitch (ANF) on Wednesday. This Zacks Rank #1 (Strong Buy) apparel company reports before the bell tomorrow. It topped the Zacks Consensus Estimate in each of the last four quarters and has a positive Earnings ESP of 4.93% for tomorrow’s release. ANF was added today with a 12.5% allocation, while Tapestry (TPR) was sold. The complete commentary has more on today’s action. By the way, DKS was the best performer among all ZU names on Wednesday by climbing 13.3% after a strong second-quarter report.   TAZR Trader: The portfolio took advantage of some pullbacks and added more to Square (SQ) and Advanced Micro Devices (AMD) on Wednesday. SQ is a “monster of fintech” that’s trading at just 6 times sales expected to grow 98% this year. And its expected to top $21 billion next year. AMD is still undervalued compared to NVIDIA (NVDA) and should be able ride the coattails of that graphics chipmaker as investors scramble to buy it. AMD is up 33.7% in the portfolio since being added in June, while SQ rose 31.4% since March. (By the way, NVDA is the portfolio’s biggest winner at the moment with an 84.8% surge since March 2020.) Kevin also sold ProShares UltraPro Short QQQ ETF (SQQQ) today. Read the full write-up for more on all of today’s moves. Headline Trader: "Money managers scampered out of fixed-income and into reopening stocks, causing yields to breakout. At the same time, capital is flowing back into recovery plays in travel & leisure, banks, energy, and industrials, which had experienced soft performance in the past few summer months. "This trend has been playing out since the beginning of the week, as market participants position for the awaited monetary tightening policy change, which some believe could occur as soon as Friday. "I don't see an asset paring plan being disclosed in Friday's virtual post-Jackson Hole press conference. Just the fact that this over 4-decade old economic tradition is still being held virtually is evidence that the pandemic still impacts our society. I surmise a tapering timeline to be laid out in next month's FOMC meeting (Sept. 21-22), following what should be another healthy monthly jobs report for August. The Fed's asset purchases should slow before the year is up." -- Dan Laboe All the Best, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Pfizer (PFE) Inks Deal With US Government for COVID Jab Supply

Pfizer (PFE) and partner BioNTech (BNTX) enter into an agreement with the government of the United States to supply 105 million doses of its mRNA-based COVID-19 vaccine. Pfizer PFE and partner BioNTech BNTX announced that they have entered into an agreement with the United States government to supply 105 million doses of their COVID-19 vaccine by this year. Upon receiving these doses, the U.S. government will pay $3.2 billion to the companies.Per the terms of the agreement, Pfizer and BioNTech will supply three different doses of the vaccine, 30 µg, 10 µg and 3 µg. In fact, the agreement also includes the supply of Pfizer/BioNTech’s Omicron-adapted COVID-19 vaccineif they are granted emergency use authorization (EUA) by the FDA.The agreement also provides the U.S. government with an option to purchase up to 195 million additional doses of Pfizer/BioNTech’s COVID-19 vaccine, bringing the total number of potential doses to 300 million.Shares of Pfizer have lost 13.7% in the year so far against the industry’s 4.8% rise.Image Source: Zacks Investment ResearchThe supply agreement with the U.S. government should help boost vaccines sales for full-year 2022 for both Pfizer and BioNTech, who jointly share the profits from the sale of the COVID-19 vaccine doses. In May, Pfizer said it expects to record $32 billion from the sales of COVID vaccines in 2022.Last week, Pfizer and BioNTech announced new data from a phase II/III study, evaluating the safety, tolerability, and immunogenicity of two Omicron-adapted COVID-19 vaccine candidates – one monovalent and the other bivalent.Data from the phase II/III study showed that participants given the booster dose of both the vaccine candidates generated a substantially higher immune response against the Omicron subvariant BA.1 when compared to Comirnaty, Pfizer/BioNTech’s authorized COVID-19 vaccine.The bivalent vaccine is a combination of Comirnaty and a vaccine candidate targeting the spike protein of the Omicron BA.1 subvariant.Pfizer has already shared data from studies on its two Omicron-adapted vaccine candidates with regulators, including the FDA, and a request for EUA is planned.Pfizer and BioNTech have already started manufacturing doses of the two candidates in anticipation of an authorization for use from the FDA. Both companies intend to start delivery of the two vaccine candidates as soon as they gain FDA authorization.The monovalent and bivalent vaccine candidates have been developed by Pfizer and BioNTech to address the rise of new and evolving Omicron subvariants. Not only do these variants outcompete the BA.1 subvariant but have also shown the potential to evade immune protection, which creates a need for adapted vaccine boosters.The COVID-19 vaccines developed by Pfizer and BioNTech are based on mRNA technology. Another vaccine based on mRNA technology, which poses stiff competition to the Pfizer/BioNTech vaccine, has been developed by Moderna MRNA.Moderna is also working on developing a new Omicron-based COVID-19 vaccine. Earlier this month, Moderna announced data from an ongoing phase II/III study, which evaluated its bivalent COVID-19 vaccine booster candidate, mRNA-1273.214, targeting the Omicron variant.The clinical data showed that following one month of administration of the 50 µg dose of mRNA-1273.214, a 5.4-fold increase in neutralizing antibodies against the Omicron subvariants, BA.4 and BA.5, was seen in all study participants, regardless of prior infection. In a subset of seronegative participants, the candidate generated a 6.3-fold increase in neutralizing titers against both the Omicron subvariants. Based on these results, Moderna intends to complete the regulatory filing for mRNA-1273.214 in the coming weeks.This week, the FDA’s Vaccines and Related Biological Products Advisory Committee (“VRBPAC”) voted 19-2 to recommend modifying the current strain composition of available COVID-19 vaccines to target the Omicron variant and its subvariants. If the FDA follows the VRBPAC’s recommendation, which it usually does, Pfizer/BioNTech will need to roll out Omicron-based vaccine boosters to provide better protection from the virus, which has been mutating rapidly.The Biden government expects to start a booster campaign in October to prepare for an expected surge in infections in autumn. Pfizer’s latest deal with the U.S. government looks like a step in this direction.Pfizer Inc. Price Pfizer Inc. price | Pfizer Inc. QuoteZacks Rank & Stocks to ConsiderPfizer currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the overall healthcare sector is Sesen Bio SESN, which sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Estimates for Sesen Bio’s 2022 bottom line have declined from a loss of 46 cents to 44 cents in the past 60 days. Share prices of Sesen Bio have fallen 2.2% in the year-to-date period.Earnings of Sesen Bio beat estimates in three of the last four quarters and missed the mark on one occasion, the average surprise being 69.9%. In the last reported quarter, Sesen Bio delivered an earnings surprise of 100%. 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. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in 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 Pfizer Inc. (PFE): Free Stock Analysis Report Moderna, Inc. (MRNA): Free Stock Analysis Report SESEN BIO, INC. (SESN): Free Stock Analysis Report BioNTech SE Sponsored ADR (BNTX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks31 min. ago

Jacobs" (J) JV Receives Decommissioning Contract From NND

Jacobs (J) to assist EDF in its intention of a net-zero economy. Jacobs Engineering Group Inc.’s J joint venture with Multiconsult Norge AS was selected by Norwegian Nuclear Decommissioning (“NND”) for the decommissioning of Norway's nuclear facilities.Per the deal, Jacobs/Multiconsult JV will provide engineering concept design and planning of new facilities, upgrade existing nuclear and non-nuclear facilities and support NND with technical documentation and prepare safety cases to meet ownership and operating license requirements. Initially, the work will be provided on two research sites, the nuclear fuel and materials testing reactor at Halden and the JEEP-II neutron scattering facility at Kjeller. These facilities were shut down in 2018 and 2019.NND estimates the total value of this six-year multi-award framework up to $100 million.Jacobs’ Energy, Security and Technology’s senior vice president, Karen Wiemelt, stated, "Laying the foundations for a safe and effective cleanup will protect people and the environment and enable these two sites to be used for other purposes for decades to come."J’s shares inched up 0.41% in the after-market trading session on Jun 29.Solid Project Execution to Drive GrowthJacobs is witnessing rising demand for infrastructure, water, environment, space, broadband, cybersecurity and life sciences consulting services. Efficient project execution has been a primary factor driving Jacobs’ performance over the last few quarters. The company’s solid backlog level is a testimony to this fact.At fiscal second quarter-end, it reported a backlog of $27.8 billion, up 8.7% year over year. This reflects persistent solid demand for Jacobs' consulting services. Of this backlog, CMS accounted for $10.5 billion, up from $9.78 billion reported a year ago. The upside provided strong visibility into the base business. P&PS backlog at quarter-end was $16.96 billion, up from $15.5 billion a year ago.Image Source: Zacks Investment ResearchJ’s shares have outperformed the Zacks Engineering - R and D Services industry in the past three months. Impressively, 2022 earnings estimates have moved up in the past two months, reflecting 13.2% year-over-year growth. The trend is expected to continue in the near term, courtesy of its solid results for the first half of fiscal 2022.Zacks Rank & Key PicksCurrently, Jacobs carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.KBR, Inc. KBR — currently carrying a Zacks Rank #2 (Buy) — provides professional services and technologies across the asset and program life-cycle within government services and hydrocarbons industries worldwide. Its mission-critical government services, high-end and differentiated government business work, strong margin performance, proprietary technology solutions and a significant increase in backlog (particularly in Government Solution) are expected to boost 2022 earnings.KBR’s 2022 earnings are likely to rise 3.7%. This Zacks Rank #3 company has seen a 2% upward estimate revision for 2022 earnings in the past 30 days.AECOM ACM — currently carrying a Zacks Rank #2 — is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and those in environmental, energy and water businesses.AECOM’s expected earnings growth rate for 2022 is 21.6%. The consensus mark for its 2022 earnings has moved up to $3.43 per share from $3.40 in the past 60 days.Sterling Construction Company, Inc. STRL — a Zacks Rank #2 company — has been benefiting from broad-based growth across the E-Infrastructure, Building and Transportation solutions segments.The consensus mark for Sterling’s 2022 earnings rose to $2.61 per share from $2.60 in the past 30 days. This suggests 7.9% year-over-year growth. 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. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in 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 AECOM (ACM): Free Stock Analysis Report KBR, Inc. (KBR): Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL): Free Stock Analysis Report Jacobs Engineering Group Inc. (J): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks31 min. ago

4 ways to stop the spinning wheel on your Mac computer

When an app on your Mac computer becomes unresponsive, it can result in a spinning wheel appearing. Here are 4 ways to fix it. The spinning wheel is the last thing you want to see on your Mac.Luis Alvarez/Getty Images To stop the spinning wheel on Mac, Force Quit the application that's causing it or force restart your computer. You can also stop the spinning wheel by closing background apps you're not using. If all else fails, you might need to contact Apple support for a fix. It has many names, from the "Spinning Wheel of Death," to the "Spinning Pizza of Death," to the "Spinning Wait Cursor." But no matter what you call it, there's one thing we can all agree on: no one wants to see a spinning wheel while they're working on a Mac.When the spinning wheel appears, it means there's an issue with your Mac or one of its applications. The spinning wheel will usually only last for a few seconds before your system works out the issue, but if it keeps appearing and won't go away, there's a deeper problem.Here's how to stop the spinning wheel in its tracks, and help your Mac run smoothly again.What is the Mac spinning wheel?This rainbow-colored spinning wheel appears whenever an app on your Mac needs more time to perform a particular task and becomes unresponsive while doing it.Each app on your Mac has what's known as a window server, a system process that helps an app communicate with your screen. When an application enters a non-responsive state, which takes approximately 4 seconds after it comes across a task it can't complete right away, its window server will show you the rainbow spinning wheel.How to stop the spinning wheel on your MacThe best way to stop the spinning wheel is to just wait it out, but if it lingers or keeps reappearing, there are a couple of ways you can stop it.Close all background appsIf the wheel appeared and quickly left, it means your Mac was just briefly overloaded. In these cases, you can usually keep working like normal. But if you're worried, close all the tabs, windows, and apps that you're running but not using.Force quit the non-responsive applicationIf the wheel has been spinning for a while and doesn't show any signs of stopping, first determine if the problem is with a specific program, or with your Mac as a whole. Try to use other apps and, if they're working fine, Force Quit out of the app that's freezing.1. Click the Apple icon in the top left corner of the screen.2. Click Force Quit in the dropdown menu.Quick tip: You can also press Command + Alt + Escape to open the Force Quit menu.3. Select the program you want to Force Quit and click Force Quit.Select the frozen app and click "Force Quit."Steven John/InsiderQuick tip: You can also Force Quit the non-responsive application by right-clicking it and selecting Force Quit.Force shutdown your MacIf your entire Mac is frozen up, you can force it to shut down.You can force a shut down by holding down the power button for about 10 seconds, or by simultaneously pressing Control + Option + Command + Power, or Control + Option + Command + Eject.Depending on whether your keyboard has a power key or eject key, this command will change.Steven John/InsiderNote: If you Force Quit or shut down your Mac, you'll lose any work you haven't saved.Contact Apple supportIf your Mac keeps freezing up and showing you the spinning wheel, even after a restart, there might be something deeper going on that you won't be able to fix yourself. Consider contacting Apple customer support.Read the original article on Business Insider.....»»

Category: topSource: businessinsider1 hr. 46 min. ago

I tried Harvard"s top productivity routine. Here"s how it impacted my work — and which habits I"m keeping.

For a week, writer Ryan S. Gladwin used "timeboxing" to schedule work tasks by the hour. He says it provided structure and gave him more free time. Ryan S. Gladwin "Timeboxing" is a productivity hack that involves scheduling your work by the hour each day. After tech company Filtered released a study on it, Harvard Business Review named timeboxing its most effective productivity tip. I tried it for more than a week. I got a lot done and learned more about how I work. As a freelancer, I find that structure is often lacking in my life. In an attempt to prevent late-night writing sessions and create a more "normal" work schedule, I decided to take up Harvard's "most useful productivity hack" — timeboxing.The productivity hack involves three steps: brain dumping, setting priorities, and planning your day.Brain dumping is when you spill your mind into an empty box. You can write about the activities you have to do, concepts for future ideas, or anything you think is worth putting in ink. Second is setting your top three e priorities for the day. This helps you not lose focus of your goals.Last is the actual timeboxing, or planning your day. This is the bulk of the technique, and it requires you to schedule your day by the hour, from waking up to going to sleep. @thetimeboxplanner Harvard’s most effective productivity hack #timemanagement #productivity #fyp ♬ Bach unaccompanied cello suite "Prelude" - Jianteng After tech company Filtered released a study on timeboxing, Harvard Business Review acknowledged it as the most useful productivity hack, saying: "This may be the single most important skill or practice you can possibly develop as a modern professional." I used the method for more than a week to see if it would increase my productivity.Mental preparation    The most immediate benefit I saw when using the timeboxing method was mentally preparing for the day. Some days are more action-packed than others, and knowing what's in store helps you get into the right mind frame.I'd often fill in my timeboxing sheet just after my morning coffee, which seemed like the perfect time to take a moment to prepare my mind. The brain dump section didn't add all that much, but designating priorities and allocating time to tasks really helped. For example, knowing whether the day ahead would involve writing or doing a lot of email management set me off on the right tone.Reducing procrastinationOnce I completed my timeboxing sheet, I'd immediately be onto the task I'd allocated for that time. This helped prevent morning procrastination, which I'm the victim of all too often. I had what I was meant to be doing and when in black and white, and if I veered off that track, I felt a sense of guilt. This applied to the whole day, not just the first task.Timeboxing feels sort of similar to another productivity hack, body doubling, where you study or work with another person for accountability. But instead of a person holding you accountable, it's the timetable you wrote.This also helps with getting a better understanding of how long tasks will take. When I first started timeboxing, I would often overshoot or undershoot how long tasks would take. Now, I'm more accurate with my estimations. This also helps when planning extra-curricular activities.More time with friends Previously, I'd turn down opportunities to meet up with friends or go play sports because I was overestimating how long my work would take. I'm now starting to develop a better understanding of how much time I need to dedicate to different tasks. This method also helped me acknowledge when I've done enough work for the day. If I've timeboxed for eight hours of work and I complete that, it's time to stop working. Before this, I'd work until my wheels fell off.This is one of the biggest benefits I've seen from timeboxing. I'd previously tried logging my work hours, but I often forget to accurately record it on an app. Timeboxing is easier to follow because it's as simple as "start at this time," and "end at this time."What happens if you go off schedule?Taking too long to complete a task became a problem. Once you realize you're into the next time block, but you're not finished with the task, you're given an ultimatum: continue with your work or honor the timeboxing method. Often, I have no choice but to continue with my work — albeit with a looming sense of guilt.If I completed a task too quickly, I'd be left wandering the house aimlessly until the next block started. Sometimes I'd start early but then I would end up finishing early again. It gave me a similar feeling of having a free period at school but no work to do. Timeboxing doesn't lend itself to an unpredictable lifestyle. One day while timeboxing, I was assigned a piece with a two-hour deadline, just before my laptop broke. These two events threw my entire timebox sheet out the window. My priorities changed, my time slots changed, and my brain had a whole lot more to dump. In this case, I had to forget the productivity hack and go into survival mode.For these reasons, I think timeboxing should be used more as a guide than a law. This helps prevent any feelings of guilt or aimlessness and enables flexibility in your schedule.Will I continue timeboxing?Going forward, I'll keep some elements of timeboxing in my life.I found the priorities section helpful with keeping me on track, just like a to-do list does. Time allocation has definitely improved my productivity; I just need to battle the feelings of guilt or aimlessness that can come with it. But I found the brain-dump section to be pointless. I simply didn't have that much to dump first thing in the morning. Instead, I used it as a place to jot down ideas throughout the day. If I thought of a story idea, something I needed to buy, or anything of the sort, I'd pop it down so I didn't forget.Timeboxing is a great tool, but it shouldn't be the law to your life. It helped provide some structure, improve my time-management skills, and boost my productivity overall.I usually got a lot done, even if I felt a little guilty when I didn't.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 29th, 2022

FDA Panel Recommends Modifying COVID Jabs to Target Omicron

The FDA's VRBPAC committee recommends updated COVID-19 vaccine boosters that target the Omicron variant to improve vaccine effectiveness. The FDA’s Vaccines and Related Biological Products Advisory Committee (VRBPAC), on Tuesday, voted 19-2 to recommend modifying the current strain composition of available COVID-19 vaccines to target the Omicron variant and its subvariants. The committee members recommended incorporating genetic material from the Omicron variant in the modified boosters.If the FDA follows the VRBPAC’s recommendation, which it usually does, vaccine makers like Pfizer PFE/BioNTech BNTX, and Moderna MRNA will need to roll out modified boosters of their COVID vaccines to provide better protection from the virus, which has been mutating rapidly.However, the vote did not specify if the modified boosters should target the Omicron variant or both the Omicron as well as the older ancestral strains of the virus. It was also not clear whether the modified boosters will target the more recent Omicron subvariants, BA.4 and BA.5. which represent more than half of all U.S. COVID-19 cases now. Not only do these variants outcompete the BA.1 Omicron subvariant but have also shown the potential to evade immune protection. This creates a need for adapted vaccine boosters with improved vaccine effectiveness. The FDA will now take the decision of what strain of Omicron the modified booster vaccines should target. The currently authorized vaccines of Pfizer and BioNTech, and Moderna and their currently available boosters are designed to target the ancestral coronavirus strain that emerged in late 2019. However, Pfizer/BioNTech and Moderna are developing Omicron-based COVID-19 vaccine boosters to address the rise of new and evolving Omicron subvariants. These Omicron-targeted vaccines have shown promise in clinical studies.Earlier this month, Moderna announced data from an ongoing phase II/III study on its bivalent COVID-19 vaccine booster candidate mRNA-1273.214, targeting the Omicron variant.The clinical data showed that following one month of administration of a 50 µg dose of mRNA-1273.214, a 5.4-fold increase in neutralizing antibodies against the Omicron subvariants BA.4 and BA.5 was seen in all study participants, regardless of prior infection. In a subset of seronegative participants, the candidate generated a 6.3-fold increase in neutralizing titers against both the Omicron subvariants. Based on these results, Moderna intends to complete the regulatory filing for mRNA-1273.214 in the coming weeks.Pfizer and BioNTech are also working on new Omicron-based vaccine candidates, both monovalent and bivalent. The bivalent vaccine is a combination of the ancestral strain and the Omicron BA.1 subvariant.Earlier this week, Pfizer announced data from a phase II/III study on the vaccine candidates. Data from the phase II/III study showed that participants, given the booster dose of both the vaccine candidates, generated a substantially higher immune response against the Omicron subvariant BA.1compared to Comirnaty, Pfizer/BioNTech’s currently authorized vaccine. Pfizer and BioNTech intend to share the above results with the regulatory authorities for approval of the booster vaccines.Pfizer and BioNTech are also evaluating both the vaccine candidates against the recent Omicron subvariants, BA.4 and BA.5.The Biden government expects to start a booster campaign in October to prepare for an expected surge in infections in autumn. The Omicron-based vaccine boosters of Pfizer and BioNTech and Moderna should be ready before the campaign begins. 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. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in 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 Pfizer Inc. (PFE): Free Stock Analysis Report Moderna, Inc. (MRNA): Free Stock Analysis Report BioNTech SE Sponsored ADR (BNTX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 29th, 2022

A complete Russian gas cutoff would force Europe to slash consumption by up to 30%, says IEA chief

Earlier this month, Russia cut natural gas flows to Germany via the Nord Stream pipeline by 60%. Fatih Birol, executive director of the International Energy Agency.Anadolu Agency/Getty Images Europe would have to curb its natural gas use by up to 30% if Russian flows stop completely, the IEA's chief told Bloomberg. Fatih Birol's comments come as Europe races to shore up gas reserves before winter arrives. Earlier this month, Russia cut gas flows to Germany via the Nord Stream pipeline by 60%. Europe should be prepared to curb its natural gas consumption by up to 30% if Russia completely halts flows, the International Energy Agency's chief said Tuesday.IEA Executive Director Faith Birol told Bloomberg that Europe must prepare for such cuts as countries shore up reserves ahead of the winter months."Depending on its timing, a complete cut-off of Russian gas supplies to Europe could result in storage fill levels being well below average ahead of the winter, leaving the EU in a very vulnerable position," Birol said in emailed comments to Bloomberg. "In the current context, I wouldn't exclude a complete cut-off of gas exports to Europe from Russia."He said lowering consumption should first start with industry usage and households to reach storage goals. For now, the European Union's storage filling is on pace to reach 90% capacity by November 1. But if Russia halts its gas exports completely, that could fall to 75%, according to Bloomberg.Birol's comments come as Russia has already taken steps to limit supplies. Earlier this month, Russia cut gas flows to Germany via the Nord Stream pipeline by 60%.And a complete cutoff would push gas prices to "significantly higher" levels, Birol added. The European benchmark has tripled from a year ago as the West and EU move away from Russian flows in response to its invasion of Ukraine. Last week, German Economy Minister Robert Habeck declared the country is now in the "alarm" phase of its gas emergency plan, signaling that businesses and households need to cut down on consumption and that the government foresees long-term risk of supply shortfalls. Germany has exited the early-warning level and could potentially move into the third and final phase of the plan, the emergency level. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 28th, 2022

Tesla (TSLA) to Upgrade Giga Shanghai to Bolster Capacity

Tesla (TSLA) set for a massive ramp up of Gigafactory Shanghai. The upgrades to Model Y and Model 3 seek to scale up capacity to more than 21,000 EVs weekly, making the unit the largest vehicle export hub. Tesla Inc. TSLA recently announced that it will partly put the shutters down on its Gigafactory Shanghai for a few weeks to upgrade the production capacity to a whopping 21,000 electric vehicles (EVs) per week.Due to the resurgence of COVID-19 cases in China and stringent lockdowns in the first quarter, Tesla was forced to shut down production at its Shanghai factory last month. The automaker was finally able to restart production on Apr 19 after a 22-day hiatus.It is a voluntary shutdown this time, scheduled to restart in July and run through early August.The upgrades to Gigafactory Shanghai will be carried out in stages. The Model Y line will be upgraded first, with the company holding back most of the production of the all-electric crossover during the first two weeks of July. The Model 3 upgrades are expected to take place for 20 days beginning Jul 18.It has been reported that the upgraded capacity includes an increase of Model Y SUV units to 14,000 a week, from about 11,000 during pre-pandemic and an increase of the Model 3 sedan to 7,700 units a week from 5,500.Prior to the shutdown, Gigafactory Shanghai was operating at a full production capacity of about half a million vehicles per year after fresh lockdowns were imposed. Tesla’s ambitious expansion plans of the factory can be counted as building a brand new unit.Tesla expects Gigafactory Shanghai to become the world’s largest vehicle export hub once the upgrades are in place. A number of vehicles produced at the unit are exported to other Asian markets, Oceania and Europe.Moreover, Tesla is trying to ramp up production at its Gigafactory units in Berlin and Texas, where production of Model Y began a few months ago.Tesla’s China-based division plays a significant role in the company’s overall vehicle production output. Last year alone, Giga Shanghai deliveries reached 484,130 vehicles, increasing 235% year over year. This amounted to more than 50% of Tesla’s global deliveries in 2021.Tesla China will lose significant units of vehicle production in the third quarter due to Giga Shanghai’s upcoming upgrades. However, the enhancements are likely to add on an impressive number of Model Y and Model 3 units for the last two months of the third quarter, narrowing down the net loss.Shares of TSLA have gained 6.7% over the past year against its industry’s 22.7% decline.Image Source: Zacks Investment ResearchZacks Rank & Key PicksTSLA carries a Zacks Rank #3 (Hold), currently.Some better-ranked players in the auto space are Wabash National Corporation WNC, sporting a Zacks Rank #1 (Strong Buy) and Genuine Parts GPC and Standard Motor Products SMP, each carrying a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank stocks here.Wabash National has an expected earnings growth rate of 239.3% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.Wabash National’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. WNC pulled off a trailing four-quarter earnings surprise of 51.26%, on average. The stock has declined 12.1% over the past year.Genuine Parts has an expected earnings growth rate of 13.6% for the current year. The Zacks Consensus Estimate for current-year earnings has remained constant in the past 30 days.Genuine Parts’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters. GPC pulled off a trailing four-quarter earnings surprise of 11.34%, on average. The stock has gained 8.8% over the past year.Standard Motor has an expected earnings growth rate of 5.2% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 3.1% upward in the past 30 days.Standard Motor’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. SMP pulled off a trailing four-quarter earnings surprise of 40.34%, on average. The stock has increased 5.5% over the past year. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See 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 Genuine Parts Company (GPC): Free Stock Analysis Report Standard Motor Products, Inc. (SMP): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Wabash National Corporation (WNC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 27th, 2022

Auto Roundup: WGO and KMX"s Quarterly Earnings Beat, TM"s Output Cut and More

Winnebago (WGO) and CarMax's (KMX) earnings top estimates. But while WGO's profits soar y/y, KMX's earnings fall. Meanwhile, Toyota (TM) cuts July production targets amid a supply chain crisis. Last week, the European Automobile Manufacturers Association (“ACEA”) released data for commercial car registrations for May 2022. The European Union (EU) passenger vehicle market contracted 17.7% in May to 136,410 units, marking the eleventh straight month of decline. A fall in new van sales primarily impacted the results. Most of the countries in the EU witnessed a double-digit drop in registrations, including four key markets. Registrations in Italy, Germany, Spain and France witnessed a yearly decline of 11.1%, 19.5%, 29.3% and 16.8%, respectively. During the first five months of 2022, new commercial vehicle registrations contracted 19.8% from the prior-year period to 673,095 units. Registrations in Italy, France, Spain and Germany declined 8.2%, 22.3%, 31.2% and 17.1%, respectively, over the same timeframe.On the news front, recreational vehicle maker Winnebago Industries WGO and used vehicle retailer CarMax KMX unveiled their quarterly results. Japan’s top maker Toyota TM announced production cut plans for the month of July due to supply chain disruptions. U.S. legacy auto giant General Motors GM plans to halt operations at its Factory Zero facility in Michigan for four weeks to prepare for a production expansion. Meanwhile, France-based tire maker Michelin MGDDY collaborated with Hyundai for sustainable electric vehicle (EV) tires.While Winnebago, General Motors and Toyota carry a Zacks Rank 3 (Hold), Michelin and CarMax presently hold a Zacks Rank #4 (Sell) and #5 (Strong Sell), respectively.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recap of Last Week’s Important Stories1. Winnebago reported third-quarter fiscal 2022 (ended May 28, 2022) adjusted earnings per share of $4.13, surpassing the Zacks Consensus Estimate of $3.01 and surging 84% year over year. This outperformance can be attributed to higher-than-anticipated revenues across all segments. The company reported revenues of $1,458 million for the quarter under review, outpacing the Zacks Consensus Estimate of $1,204 million. The top line also grew 52% year over year.Winnebago had cash and cash equivalents of $238 million as of May 28, 2022, down from $434.6 million on Aug 28, 2021. Long-term debt (excluding current maturities) totaled $541.4 million, down from $528.6 million recorded on Aug 28, 2021. During the quarter under review, WGO repurchased shares worth $70 million. It approved a payout of 18 cents a share, payable on Jun 29, 2022, to shareholders of record as of Jun 8, 20222. CarMax reported first-quarter fiscal 2023 (ended May 31, 2022) net earnings per share of $1.56, beating the Zacks Consensus Estimate of $1.51 amid higher-than-anticipated revenues from the wholesale segment. The bottom line, however, decreased from $2.63 per share recorded in the year-ago period. The auto retailer registered revenues of $9,311 million for the May-end quarter, which fell short of the Zacks Consensus Estimate of $9,375 million. The top line, however, recorded a 21% year-over-year increase.During the fiscal first quarter, CarMax bought back 1.6 million shares of common stock for $157.6 million under the share repurchase program. As of May 31, 2022, it had $2.62 billion remaining under the share-repurchase authorization. The company opened one new store during the fiscal first quarter. KMX currently operates more than 230 used car stores. In fiscal 2023, CarMax targets to open 10 stores. It expects fiscal 2023 capital expenditure to increase to $500 million.3. Toyota slashed its production plan yet again amid exacerbated supply chain snarls due to the Russia-Ukraine war and COVID-induced curbs in China. It trimmed its July worldwide output target by 50,000 vehicles. Volumes for July are expected to be around 800,000 units (with 25,000 units in Japan and 550,000 units overseas). The automaker also expanded production halts at its Motomachi and Takaoka plants.Toyota expects the average global output for the July-September period to be around 850,000 units per month. Nonetheless, it hasn’t lowered its fiscal 2022 global production target of 9.7 million vehicles but has notified that there might be a "possibility" that the forecast might be lowered. Considering the production cuts and a limited supply of microchips, inventory is likely to remain low for quite some time. The executive vice president of sales for Toyota North America, Bob Carter believes that it would take around six months for inventory rates to normalize after the supply chain recovers. 4. General Motors decided to suspend production of its all-electric pickup, Hummer EV, at the Factory Zero facility in Michigan for four weeks to modify and increase the unit’s production capacity. Per media sources, the downtime will stretch from Jun 27 to Jul 22. The company noted that the upgrades were taking place earlier than the scheduled date, and affected employees have already been notified.The plant aims to launch the Chevrolet Silverado EV and GMC Sierra Denali EV pickups next year together with an autonomous van, the Origin, for its self-driving ride-share company, Cruise. Notably, GM delivered a mere 99 of the Hummer EV Edition 1 pickups during the first quarter of 2022. However, it has more than 77,500 reservations in hand and will be bolstering its output throughout the year to cope with the demand.5. Michelin has inked an agreement with South Korean automaker Hyundai Motor to develop next-generation tires for the latter’s premium EVs. The agreement is a continuance of a five-year partnership signed in November 2017 to manufacture an exclusive tire for the Hyundai Ioniq 5. The recent deal will run for three years, during which both the companies aim to conduct a study on tire wear, tire load and road friction beyond the current degrees of tire temperature and air pressure. They will also explore ways to up the use of eco-friendly materials in tires to about 50% of the total tire weight from the current 20%.The properties of the tires are supposed to contribute to autonomous driving technology via a real-time tire monitoring system. The partnership pivots on the success of the previous venture of the Hyundai Ioniq 5 and now looks to offer safer and cleaner mobility. Both companies are optimistic about the breakthrough innovation plans coming to fruition and creating synergies in the collaboration.Price PerformanceThe following table shows the price movement of some of the major auto players over the last week and six-month period.Image Source: Zacks Investment ResearchWhat’s Next in the Auto Space?Industry watchers will keep a tab on U.S. vehicle sales for the month of June. Also, stay tuned for any update on how automakers will tackle the semiconductor shortage — compounded by the Russia-Ukraine war and COVID-19 restrictions in China — and make changes in business operations. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See 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 Toyota Motor Corporation (TM): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report CarMax, Inc. (KMX): Free Stock Analysis Report Winnebago Industries, Inc. (WGO): Free Stock Analysis Report Michelin (MGDDY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 27th, 2022

German Vice-Chancellor "Drastically Reduces" Time In Shower To Cope With Energy Crisis 

German Vice-Chancellor "Drastically Reduces" Time In Shower To Cope With Energy Crisis  German Vice-Chancellor and Economy Minister Robert Habeck spoke with Der Spiegel magazine about the need for German citizens to shower less to overcome the worst energy crisis in a generation.  When asked by Der Spiegel about "saving energy in our day-to-day lives," Habeck responded by saying to shower less.  "I have drastically reduced the amount of time I spend in the shower, but I am a poor example. As a minister, I earn a salary that others can only dream of. Plus, I come home late, get up at 6 a.m., and am out of the house again by 7. With such a schedule, it's not necessary to heat in winter. For people working from home, retirees with small pensions, and families, it is a different story. "My counterpart from the Netherlands recently told me proudly that they had launched a campaign intended to cut the average showering time from 10 minutes to five. I had to laugh. I have never showered for five minutes in my life. I shower quickly," he said.  In another question about his energy savings campaign, the minister said, "We don't have to completely punish ourselves. But we also can't act as though everything is just fine."  Habeck's conversation with the German magazine comes a day after he warned Germany should prepare for further import cuts of Russian natural gas. Germany raised its NatGas-emergency plan to the second "alarm stage" of a three-stage emergency plan that allows utility companies to pass on higher power prices to industry and households to curb demand. The move comes as the Nord Stream pipeline to Germany operates at 40% of capacity after flows were recently reduced for a "technical problem" by Russian gas exporter Gazprom PJSC.  The second stage also increases energy market monitoring and allows some coal-fired plants to be reactivated to increase electricity output.  There are new fears Saturday morning that Moscow could entirely halt all NatGas flowing through Nord Stream within weeks, which would cause energy chaos in Germany and across the continent.  Describing the worst-case scenario [shuttering of Nord Stream] to Der Spiegel, Habeck said, "companies [will] have to cease their production, their workers [will] be laid off, supply chains will be collapsing; people are going to [go] into debt to pay their heating bills; people will be getting poorer and frustration will engulf the nation." In an interview last week, the International Energy Agency told the Financial Times that Europe should be prepared for a complete suspension of Russian NatGas flows to Europe.  No matter if everyone in Germany stopped taking showers at the request of the government to save energy, the largest European economy and the entire continent faces a severe energy crunch as Putin could any day pull the plug on NatGas flows that would trigger an economic collapse. CEO of Germany's multinational BASF SE, the world's largest chemical producer, warned of that in April.  Meanwhile, Europe was hoping for increasing LNG exports from the US, but the Freeport LNG terminal in Texas recently experienced an explosion that has complicated the export picture that and won't return online until late 2022.  Tyler Durden Sun, 06/26/2022 - 11:00.....»»

Category: blogSource: zerohedgeJun 26th, 2022

Germany considers seizing parts of a Russian gas pipeline to use in an LNG terminal as Europe reels from an energy crisis, report says

Der Spiegel reported Friday that the economy ministry has discussed expropriating portions of the Nord Stream 2 gas pipeline in German territory. The logo of the Nord Stream 2 gas pipeline seen at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia, on February 26, 2020.Maxim Shemetov/Reuters Germany wants to repurpose part of the Nord Stream 2 pipeline for an LNG terminal, according to Der Spiegel. The Russia-owned gas pipeline is not in use after Berlin vowed not to make it operational due to the war in Ukraine. The potential plans come as Europe faces an energy crisis after Russia began reducing gas supplies. Germany is reportedly considering seizing parts of the Nord Stream 2 pipeline to allocate for a liquefied natural gas terminal as Europe reels from an energy crisis.Der Spiegel reported Friday that the economy ministry has discussed expropriating portions of the Russian-owned gas pipeline in German territory, according to Reuters.The pieces would then be cut off from the rest of the pipeline and repurposed in an LNG terminal on the Baltic Sea. Europe has increasingly turned to LNG imports, especially from the US, as it looks for alternatives to Russian supplies.Russia's state-run energy giant Gazprom completed construction of the Nord Stream 2 at the end of 2021 but it has yet to be used. Germany vowed not to let it go into operation after Russia invaded Ukraine. The potential pipeline seizure comes as Europe faces an energy crisis. Russia has slashed gas flows from a separate pipeline, Nord Stream 1, in recent weeks just as European countries build up inventories ahead of the winter season.Energy storage in Europe is roughly half full, and the EU is worried that a harsh winter coupled with an already frustrated supply chain for energy will lead to shortages.On Thursday, German Economy Minister Robert Habeck declared the country is now in the "alarm" phase of its gas emergency plan, signaling that businesses and households need to cut down on consumption and that the government foresees long-term risk of supply shortfalls. International Energy Agency chief Fatih Birol told the Financial Times earlier this week that Europe should prepare for a complete cut-off in Russian gas exports.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 24th, 2022

Embraer (ERJ) Arm to Supply Up to 40 eVTOLs to Fahari Aviation

Embraer S.A.'s (ERJ) subsidiary, Eve UAM, LLC (EVE), signs a Letter of Intent with Fahari Aviation for supplying up to 40 eVTOLs. Embraer S.A.’s ERJ subsidiary, Eve UAM, LLC (EVE), recently inked a deal with Kenya Airways’ subsidiary, Fahari Aviation, for delivering up to 40 of its electric vertical takeoff and landing (eVTOL) vehicles to the latter. The delivery is projected to commence in 2026.The agreement, signed through a Letter of Intent, aims to forge ahead the development of the Urban Air Mobility (“UAM”) system in Kenya and prepare a model that will support cargo drone operations in Kenya.Significance of Eve’s eVTOLEve’s eVTOL lift & cruise vehicle is electric-powered and has the most practical design for efficiency and certifiability. Moreover, its multiple rotors are used to take off and land vertically, and at cruise altitude, rear propellers push the aircraft forward as in a wing-borne flight, providing a low-noise experience and making it easier to move within cities while avoiding traffic jams.Considering such remarkable features of Embraer’s eVTOL that can efficiently fulfill urban environment requirements amid the rising demand for next-generation air mobility systems, Embraer may witness a strong inflow of orders involving its eVTOL, like the latest one. This, in turn, is likely to bolster ERJ’s revenues from the eVTOL aircraft line of business.Growth Prospects of eVTOLUAM is an evolving market trend that boasts immense growth potential due to the mounting congestion in traffic at the ground level. Also, the rising concerns over carbon emissions leading to increased measures by nations to curtail effects on the climate are further expected to fuel the demand for UAM.Per the report from the Markets and Markets firm, the global eVTOL market is anticipated to expand at a CAGR of 15.3% during the 2021-2030 period.Such an expanding size of the eVTOL market tends to provide ample prospects for companies like Embraer to reap the multitude of gains and prosper in the growing demand. A few companies that stand to benefit from the growing eVTOL aircraft market are Airbus SE EADSY, Textron TXT and Boeing BA.Airbus’CityAirbus NextGen is an all-electric, four-seat eVTOL multicopter concept featuring a wing. It boasts an 80-km range and a cruise speed of 120 km/h, which makes it perfect for zero-emission flight operations for a variety of applications in major cities.Airbus’ long-term earnings growth is pegged at 12.4%. The Zacks Consensus Estimate for EADSY’s 2022 earnings suggests a growth of 3% from the prior-year reported figure.Textron’s business segment, Bell, is working on the plans to launch an eVTOL, Bell Nexus. Bell Nexus 4EX is a four-duct vehicle, which is configurable in an electric or hybrid-electric platform. With a hybrid platform, Nexus 4EX promises an extended reach to travel farther or to more remote locations based on mobility needs. The stock’s other eVTOLs include FCX-001 and Bell AerOS.The long-term earnings growth rate of Textron is pegged at 12.7%. The Zacks Consensus Estimate for TXT’s 2022 earnings suggests an improvement of 21.5% from the prior-year reported figure.Boeing’s subsidiary, Aurora Flight Sciences, is part of Boeing NeXt, an organization that is leading the safe and responsible introduction of next-generation air vehicles for urban, regional and global mobility. Its passenger air vehicle or PAV is a multirotor aircraft designed and developed for Boeing NeXt, which is leading the safe and responsible introduction of on-demand mobility.Boeing’s long-term earnings growth rate stands at 4%. The Zacks Consensus Estimate for BA’s 2022 sales indicates an improvement of 21.8% from the prior-year reported figure.Price PerformanceShares of Embraerhave dropped 39.7% in the past year compared with the industry’s decline of 43.9%.Image Source: Zacks Investment ResearchZacks RankEmbraer currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them 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 The Boeing Company (BA): Free Stock Analysis Report EmbraerEmpresa Brasileira de Aeronautica (ERJ): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 24th, 2022

Netflix (NFLX) Continues to Fire Employees to Cut Costs

Netflix (NFLX) joins other tech giants in reducing costs while it continues to lay off employees amid slowing revenue growth. Netflix NFLX is laying off about 300 employees globally across multiple business functions to reduce costs amid slowing revenue growth. The latest job cuts announcement followed the layoff of 150 employees last month.While most of the laid-off employees were based out of the United States, there have been cuts in the Asia Pacific, Latin America and Europe, the Middle East and Africa (“EMEA”) as well.The near-term outlook is not enthusiastic as Netflix expects to lose two million paid subscribers in second-quarter 2022. This Zacks Rank #4 (Sell) company has been struggling so far in 2022, primarily due to stiff competition, the unfavorable impact of account sharing, a weak economy, multi-decade high inflation, the Russia-Ukraine conflict and some lingering COVID-19 disruptions.In first-quarter 2022, Netflix reported its first loss of 200K subscribers since October 2011, causing its stock to drop 23%.The company is also exploring lower-priced, ad-supported tiers in a bid to bring in new subscribers after years of resisting advertisements on the platform. Comcast’s NBCUniversal and Alphabet’s Google are reportedly leading the race for a tie-up with Netflix to help it create an advertisement-supported subscription plan.Netflix is also working to crack down on rampant password sharing. It noted that in addition to its 222 million paying households, there are more than 100 million additional households through account sharing.Netflix, Inc. Price and Consensus Netflix, Inc. price-consensus-chart | Netflix, Inc. QuoteNetflix Joins Other Tech Giants to Cut Costs and Pause HiringNetflix is betting that cost-cutting measures and ad-supported tiers on the streaming platform might aid performance and help impede the 69.9% slump in shares in the year-to-date period, compared with the Zacks Consumer Discretionary sector’s fall of 36%.Netflix’s layoffs, while tied to its slowdown of revenues, are part of a larger contraction of jobs within the tech industry. Several tech companies recently announced hiring freezes and layoffs, such as Facebook’s parent company, Meta Platforms META, Spotify SPOT, Microsoft MSFT, NVIDIA, Intel, Amazon, Tesla, Uber and Robinhood, among others.Meta is limiting its intake of new employees to cut costs due to weak revenue forecasts. Facebook's parent company is pausing or slowing down hiring for most mid-to-senior level positions after announcing a strategy to expand into the metaverse. The social media giant has 71,970 employees worldwide.Spotify, the world's largest online streaming service, has been on a spending spree, plowing cash into its podcast division, in an effort to dive deeper into the higher-margin business. But the company isn't immune to the current economic backdrop. Spotify will cut back on its hiring plans by 25%, meaning that the company will not stop hiring new employees but will bring on fewer workers than originally expected in the year ahead.Microsoft is slowing down the hiring for its Office, Windows, and Teams groups to better prepare itself for the coming fiscal year and contend with the current economic environment. The tech giant reported strong fiscal third-quarter earnings, with a 26% year-over-year increase in cloud revenues. However, in early June, the company revised its fiscal fourth-quarter revenue and earnings guidance downward, citing the impact of foreign exchange fluctuations. The tech giant has 181,000 employees.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them 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 Netflix, Inc. (NFLX): Free Stock Analysis Report Spotify Technology (SPOT): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 24th, 2022

Meta Platforms" (META) Creator-Friendly Policy to Aid Engagement

Meta Platforms (META) is continuing its creator-friendly policy by opening up new opportunities for creators to monetize their businesses across its platforms. Meta Platforms META is continuing its creator-friendly policy by not charging any fees for Subscriptions, Badges, Paid Online Events and Bulletin until Jan 1, 2024.The company also announced that it is opening Facebook Stars to all eligible creators across multiple formats: Facebook Live, on-demand videos and Facebook Reels. Facebook Stars are digital goods that users can buy to support creators.The latest moves, which expand monetization opportunities for creators, are a part of Meta’s initiatives to retain existing as well as attract new creators who are essential to boost user engagement across Facebook and Instagram.New Features to Help Creators Develop Business for MetaverseMeta has been undertaking several initiatives to help creators develop their own businesses and prepare for the metaverse. The company recently announced several new features and tools across Facebook and Instagram for creators.Creators are expected to play a key role in developing the metaverse economy. Meta’s latest initiatives will surely benefit them in creating attractive brands and products for the metaverse.Meta is now testing Interoperable Subscriber Groups on Facebook. Through this, creators can receive payments from users on other platforms, and automatically add them to subscribers-only Facebook groups. Meta is also expanding its test of digital collectibles like NFTs on Instagram as it continues to build for the metaverse.The metaverse space has become the company’s key focus in recent times due to the huge growth opportunities it presents. Meta is expected to spend more than $10 billion over the next 10 years to build the metaverse. Meta Platforms, Inc. Price and Consensus Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote The metaverse market, globally, is expected to reach $800 billion by 2024, per a Bloomberg report. According to a latest report from Fortune Business Insights, the global metaverse market is expected to witness a CAGR of 47.6% between 2022 and 2029 to reach from an estimated $100.27 billion in 2022 to $1,527.55 billion by 2029.Meta has been a frontrunner in grabbing this opportunity, given its experience in developing devices like the Quest headset. Meta is also set to release the higher-end headset — Project Cambria — later this year, which is anticipated help it retain the leading position in the Augmented Reality/Virtual Reality device space.Additionally, Meta is anticipated to launch a digital clothing store where users can purchase designer outfits for their avatars in the metaverse. Brands like Balenciaga, Prada and Thom Browne will be initially available for purchase.What Awaits Meta Stock in 2022?Meta is having a terrible 2022, primarily attributable to engagement-related headwinds as well as changes made by Apple AAPL in its iOS that has made ad targeting difficult. Intensifying competition for ad dollars and user engagement from the likes of Snap SNAP, Twitter TWTR and TikTok have been other headwind.Shares of this social-networking giant are down 53.7% year to date, underperforming the Zacks Computer & Technology sector, which has dropped 30.6% over the same time frame. Snap shares are down 72.2% while Twitter’s has declined 10.9%.The ongoing Russia-Ukraine war has hurt advertisers’ budgets. Rising inflation as well as slowing economy is expected to trigger budget cuts. This doesn’t bode well for Meta as well as its ad-revenue-dependent peers like Twitter and Snap.Nevertheless, Snap is benefiting from improving user engagement, particularly in the 13-34-year-old demography, which is expanding its advertiser base. Snap is also providing competition to Meta in the metaverse. Snap has collaborated with Vogue to feature a virtual try-on experience of select pieces from Balenciaga, Dior and Gucci, which will be available for Snapchatters globally.Meta expects engagement headwinds and ad-targeting difficulty due to Apple’s iOS changes to hurt advertising revenue growth throughout 2022. This Zacks Rank #3 (Hold) company’s second-quarter guidance also reflects macroeconomic and forex concerns. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Meta's second-quarter 2022 revenues is currently pegged at $29.03 billion, indicating 0.2% decline from the figure reported in the year-ago quarter. The consensus mark for earnings stands at $2.57 per share, down 1.2% over the past 30 days and suggesting a decline of 28.81% from the figure reported in the year-ago quarter. Zacks' Top Picks to Cash in on Electric Vehicles Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investorsSee 5 EV 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 Apple Inc. (AAPL): Free Stock Analysis Report Twitter, Inc. (TWTR): Free Stock Analysis Report Snap Inc. (SNAP): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksJun 23rd, 2022

How top banks like Goldman Sachs and JPMorgan train young advisors to work with ultra-rich clients

Voicemail training, case studies, and hundreds of hours of lessons: here's what it takes to work at top private banks. Goldman Sachs analysts have to train for two years before working with the bank's wealthiest clients.Kingfisher Productions Private banks cater to the wealthiest clientele, who typically have at least $10 million in assets. The advisor training can take years and spans from case studies to voicemail training. Insider spoke to 4 top banks about how they prepare bankers to work with their most prized clients. See more stories on Insider's business page. America's wealthy continue to get richer, and the world's top banks are fighting for their business. Even banks with household names are competing for talent to service this niche clientele, which often have at least $10 million in assets.But getting hired is just the first step. Wall Street banks put analysts through their paces before letting them work with the most coveted clients. It can take hundreds of hours of lessons, sometimes spread out over years or condensed into a matter of weeks, as well as exams, case studies, and — more exams. Here's our running list of training programs for aspiring private bankers at top US banks.JPMorganDavid Frame, CEO of the private bank, is doubling down on a recruiting push. JPMorgan aims to hire as many as 1,500 new private bank advisors over the next five years, which would double its current headcount.About half these advisors will come from JPMorgan's analyst ranks, who are mostly newly minted college graduates. These young analysts have to complete 250 hours of training over three years with a mix of live lessons and self-study on topics from alternative investments to lending.There aren't any written exams, but analysts are tested on their mastery in role-play sessions with fictional clients, which Frame compares to language labs."We view a lot of these topics as like learning a foreign language. You have to be conversant," Frame said.Read more about JPMorgan's "objection clinics" with fictional clients and voicemail training.Morgan StanleyEvery advisor in the wealth management division has to pass an exam with a live case study in order to work with high-net-worth families.Only some 60% pass on their first try and about 75% eventually pass after retaking it, sometimes multiple times. "We don't have a requisite number that we're looking to put through the program," Alex Chester, who runs the bank's family wealth director program, told Insider. "We want to make sure that the advisors that we're promoting are equipped to work with the very best clients of the firm."In the case study, senior Morgan Stanley employees pretend to be a high-net-worth client and their accountant or attorney. Advisors get one hour to talk to the fictional client, and another three hours to prepare detailed recommendations.See an example of Morgan Stanley's tough case studies here.Goldman SachsAfter three years of working for Goldman Sachs, about 25 to 40 analysts from the bank's private wealth division are handpicked for its advisory program.The focus of the two-year course is to train young graduates to communicate with clients in a relatable way and ditch "business-school speak," Goldman partner David Fox told Insider. Trainees go through near-daily sessions of "verbal dexterity" exercises where they have to answer questions from fictional clients. The course culminates with three case studies that involve portfolio strategy and estate planning, as well as a written and oral exam.Read all the details about the case studies that cap off Goldman's training programBank of AmericaAnalysts at Bank of America complete four department rotations within the private bank, shadowing senior bankers, trust officers, and portfolio managers. This "apprenticeship model" helps young graduates find their specialty before becoming associates, according to Jessica Walsh, who leads employee training for early talent at the private bank. At the end of the two-year program, analysts pick choose one of the bank's 25 specialty groups, such as wealth planning, custom lending, structured credit, philanthropy, or the chief investment office.Case studies are fundamental to the program, including a capstone case study with 15 possible outcomes, but analysts get to interact with clients while they are trainees.Learn more about how young grads train to work with the ultra-rich.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJun 23rd, 2022

IEA: Europe Should Prepare For Complete Russian Gas Shutdown

IEA: Europe Should Prepare For Complete Russian Gas Shutdown By Irina Slav of OilPrice.com Europe should prepare for a complete suspension of Russian natural gas deliveries, the head of the International Energy Agency told the Financial Times in an interview. “Europe should be ready in case Russian gas is completely cut off,” Fatin Birol told the FT. “The nearer we are coming to winter, the more we understand Russia’s intentions,” he added. “I believe the cuts are geared towards avoiding Europe filling storage, and increasing Russia’s leverage in the winter months.” As a means of countering the worst effects of such a scenario, Birol advised European governments to keep nuclear power stations running and take other contingency measures, too. These other contingency measures seem to focus on demand. “I believe there will be more and deeper demand measures [taken by governments in Europe] as winter approaches,” Birol told the FT, adding gas rationing was a distinct possibility in case of further cuts to Russian gas supplies. In the past three months, Russia has cut off supply to several European countries that refused to pay for gas in rubles. It has also substantially reduced the flow along the Nord Stream, effectively cutting off supply to France and reducing flows to Germany by some 60 percent. Gazprom and its equipment maintenance service provider Siemens Energy have blamed the reduction on a turbine delivery delay resulting from new Canadian sanctions against Moscow. Germany has blamed Gazprom. The European Union’s largest economy is facing a certain recession in case Russian gas flows stop completely, an industry body warned this week. BDI cut its growth projection for Germany to 1.5 percent from 3.5 percent for this year and said that if Russia cuts off the gas, the economy will inevitably slip into a recession. Meanwhile, to make up for lost gas supply, Germany, Austria, and the Netherlands are restarting coal power plants. The IEA’s Birol defended the move in his FT interview, saying the restart was temporary and whatever the increase in emissions, it would be offset by future renewable energy capacity. Tyler Durden Thu, 06/23/2022 - 06:30.....»»

Category: blogSource: zerohedgeJun 23rd, 2022

Louisiana-Pacific (LPX) to Divest EWP Business for $210M

Louisiana-Pacific (LPX) to focus more on Siding and OSB units with the divestiture of EWP business. Louisiana-Pacific Corporation LPX — commonly known as LP Building Solutions (LP) — inked a deal with Pacific Woodtech to divest its Engineered Wood Products (EWP) business for $210 million.Per the deal, LP will divest its laminated veneer lumber and I-joist manufacturing facilities in Wilmington, NC, Red Bluff, CA, and Golden, British Columbia, Canada, associated timber license assets and the SolidStart brand. The transaction is expected to close in third-quarter 2022 and is subject to customary closing conditions and regulatory reviews.LP’s chair and chief executive officer, Brad Southern, stated, "We believe that Pacific Woodtech is well positioned to invest in and grow the SolidStart brand, and its acquisition of LP's EWP business marks another important step in LP's ongoing strategic transformation. We will work with Pacific Woodtech to ensure a smooth transition for our EWP employees, customers, and suppliers."Inorganic Moves & Transformation Strategy to Drive GrowthLP’s business banks on acquisitions, business combinations and divestitures of low-profitable businesses. In June 2020, the company divested the Nova Scotia, Canada-based East River facility to Maibec, Inc. for $16 million. Maibec also took charge of the assets and brand rights of CanExel — the fiber-based siding product manufactured in the East River facility.LP is gradually transforming from a commodity producer into a more stable cash-generative business by increasing revenues and the EBITDA mix. From January 2019 to 2020, Louisiana-Pacific achieved $178 million of cumulative EBITDA from growth and efficiency. It exceeded its three-year target of $165 million for cumulative EBITDA in fourth-quarter 2020. During first-quarter 2022, adjusted EBITDA increased 37.7%, primarily backed by higher OSB prices, strong volume (primarily in the Structural Solutions unit) and increased raw material costs.LP continues focusing on three areas: increasing the efficiency of mills by improving productivity, run time and quality through overall equipment effectiveness or OEE initiatives, applying best practices to its supply chain and optimizing infrastructure costs.To reduce costs, LP lowered the cost structure of its facilities through Lean Six Sigma efforts, the sale or shutdown of underperforming mills and manufacturing facilities and investments in technology. Louisiana-Pacific resorts to a strategy of curtailing production at selected facilities to meet customer demand and optimize its portfolio as well as margins.Image Source: Zacks Investment ResearchShares of LP have declined 7.6% in the past year compared with the Zacks Building Products – Wood industry’s 14.9% fall. Earnings estimates for 2022 have moved up 14.2% in the past 60 days. Louisiana-Pacific has a solid surprise history, with its earnings surpass the Zacks Consensus Estimate in the trailing nine quarters. This trend reflects bullish analyst sentiments. Its impressive VGM Score of A is a testimony to that.Zacks Rank & Other Stocks to ConsiderLP currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Based in Seattle, WA, Weyerhaeuser Company WY — currently sports a Zacks Rank 1 —focus on operational excellence is expected to drive growth. More home improvement and R&R market activities are raising hopes. Focus on operational excellence and efforts to boost financial flexibility enabled it to generate solid cash flow and strengthen the balance sheet. Weyerhaeuser remains optimistic about its performance despite persistent supply-chain issues, the recent uptick in mortgage rates and ongoing affordability concerns in the housing market, given favorable demographics and a decade of underbuilding and historically low inventory for new and existing homes.Weyerhaeuser has dropped 1.4% in the past year. WY has seen an 18.5% upward estimate revision for 2022 earnings in the past 60 days. The positive estimate revisions depict analysts' optimism over the company’s prospects.Headquartered in Grand Rapids, MI, UFP Industries, Inc. UFPI — currently holds a Zacks Rank 2 — supplies wood, wood composite and other products in retail, industrial, and construction markets. Increased home improvement activity resulting from stay-at-home orders benefited UFP Industries’ Retail segment. Expansion of the product portfolio through acquisitions and product innovations is also noteworthy.UFP Industries has dropped 9.2% in the past year. UFP Industries’ 2022 earnings are expected to grow 11.8%.Boise, ID-based Boise Cascade Company BCC — currently carries a Zacks Rank 2— makes wood products and distributes building materials in the United States as well as Canada. Higher commodity wood products pricing and robust construction activity are consistently aiding it in delivering strong results. Building Materials Distribution and Wood Products segments are gaining strength from strong end-product demand (particularly for EWP) as well as higher commodity product prices. BCC has also been increasing its commodity offerings for a while to instill growth in the existing markets, underserved markets and across its entire national footprint.BCC has gained 13.4% in the past year. Earnings estimates for 2022 moved up to $18.43 from $15.07 per share in the past 60 days. 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 UFP Industries, Inc. (UFPI): Free Stock Analysis Report Weyerhaeuser Company (WY): Free Stock Analysis Report LouisianaPacific Corporation (LPX): Free Stock Analysis Report Boise Cascade, L.L.C. (BCC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 22nd, 2022

An economic downturn is "for sure" coming, Trivago"s CEO says. Here"s his advice for weathering the crisis.

The CEO of travel-search company Trivago said a recession is "for sure" coming and that the next four to eight weeks would show how bad it will be. Analysts are debating whether the US economy is headed for a recession.Michael Nagle/Xinhua via Getty Axel Hefer, CEO of travel-search company Trivago, said an economic downturn was "for sure" coming. Hefer said the next four to eight weeks would determine how bad it will be. He shared what leaders should do ahead of a crisis, including taking a stance and sticking to it. Axel Hefer, who runs the travel-search company Trivago, always trusts his gut on financial matters. And right now, to him, the US economy feels "off."An economic downturn is "for sure" coming, the Trivago CEO said. And the next four to eight weeks will determine how bad it will be, he added.Hefer learned to listen to his instincts after weathering two major economic storms. During the 2001 economic crisis, he was a consultant at McKinsey focused on corporate finance. And during the Great Recession, which began in 2007, he was a partner at a private-equity firm. "It feels like 2001," Hefer told Insider, referring to the end of the dot-com bubble, when many internet startups fetched gratuitous valuations on Wall Street despite having flimsy business models and scant chances of turning a profit."Everything is overheated," he said. "Planes don't depart on time because there's not enough stewards. There's not enough ground handlers. Restaurants can't open because there's not enough workers."Axel Hefer, the CEO of Trivago, predicts an economic storm for the US that will subsequently affect Europe.TrivagoIndeed, the Federal Reserve also believes the US economy is running hot. Rising prices and a tight job market have pushed the central bank to raise short-term interest rates off historic lows — increasing the cost of borrowing — to cool the economy. The Fed's goal is to pull off a difficult maneuver, what Wall Street refers to as a soft landing: slowing the economy without overcorrecting and causing a recession.America's labor shortage, in particular, does not feel right, Hefer said. "Something has to be structurally wrong," he said. He added that he thinks a downturn will start in the US and spread to Europe because the two economies are so intertwined. Many workers left the labor force during the darkest days of the pandemic or looked for other work outside areas like retail, restaurants, and travel, which underwent massive layoffs when stay-at-home orders went into effect. Some of these workers — like airline pilots — took early retirement. That's left airlines scrambling to match a big rebound in consumer demand for travel. Hefer said he was unsure whether the downturn he forecast would be a blip or something bigger. He also doesn't expect the travel industry to face a downturn tomorrow, he said. "The summer will be strong. Everybody wants a break. We've run research on it. Everybody is very much looking forward to the summer, coming out of lockdowns, depending on where you are based," Hefer said. "We'll see things get worse in autumn." Fall is when some sort of market downturn, combined with waning travel demand, will hit the industry, he said. Economists and market analysts are, as always, debating the future of the economy. A Bank of America economist said there's a 40% chance that the US would slip into a recession.Treasury Secretary Janet Yellen, for her part, said a recession "isn't inevitable" but that inflation was "unacceptably high." That's worrisome because high inflation plus low unemployment, a combination the US is experiencing now, has triggered past downturns. And Ben Bernanke, a former Fed chair, said a recession was possible, though he believed the Fed could steer the economy around a recession or through a mild one if policymakers could bring inflation to heel.Steve Pfost/Newsday RM via Getty ImagesHow to prepare for a crisisAt the end of 2021, analysts from the likes of JPMorgan and Bank of America predicted the S&P 500, the broad index linked to many workers' retirement accounts, would gain 4 or 5% in 2022. Halfway through the year, however, the benchmark index is down 21.5%. Hefer said it's time to embrace the realities of labor shortages, supply-chain issues, and inflation at a 40-year high as warning signs. "Demand is outpacing supply of people for jobs. That doesn't feel right to me, in the same way it didn't feel right when AOL bought Time Warner," Hefer said, referring to a colossal and ill-fated 2001 deal in which America Online purchased the parent company of Time magazine, CNN, and HBO. The maneuver was meant to pave the way for the internet company to take over the media world but came to be regarded as a massive failure.In case a new crisis does arrive, Hefer suggested coming up with a plan now and tuning out the noise as it approaches. "You'll have panic. You'll have sentiment moving from left to right. You just have to ignore that," he said. "Come up with a plan. Otherwise, you're pushed by moving sentiment. You have no chance of navigating crisis that way." For COVID-19's initial hit to the world economy in early 2020, Hefer and his team developed a three-stage plan on the fly. The first stage accounted for what the company would do during a total shutdown. The second accounted for when domestic travel would resume. And the third stage accounted for when things were relatively back to normal. While he didn't know the timing of when one stage would transition into the next, having a three-stage plan "absolutely" helped reduce panic at the company. "Do what you need to do," he said. "Then focus on the positives. How can you come out of this crisis? How can you turn your weaknesses into strengths? How can you move faster than everybody else? How can you adapt faster to the changing business environment than anybody else?" Read the original article on Business Insider.....»»

Category: dealsSource: nytJun 22nd, 2022

Understanding Cybersecurity Threats To Secure The Hybrid Workplace

More businesses now offer a hybrid workplace to cope with the changes led by the global pandemic. As more offices shifted to work-from-home settings, it has been challenging for many employees to return to the office as things bounce back to normal. According to a Pew Research Center survey, 76 percent of respondents are still working […] More businesses now offer a hybrid workplace to cope with the changes led by the global pandemic. As more offices shifted to work-from-home settings, it has been challenging for many employees to return to the office as things bounce back to normal. According to a Pew Research Center survey, 76 percent of respondents are still working from home due to personal preferences. A hybrid workplace is a flexible model that combines in-office and remote work. It allows employees to perform their tasks at home while occasionally joining the office. Although this working structure is convenient, it poses cybersecurity risks, mainly if you use two different computers and networks while working at the two locations. The first step businesses need to take to reduce the risk of cybersecurity threats is to learn more about them while educating every team member. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Listen to Cybersecurity Podcasts Some people absorb materials better when they listen to them. A cybersecurity podcast is a perfect tool that allows listeners to catch up on the latest news about cybersecurity threats or gain insight from experts in the field. Cybersecurity podcasts are a convenient method of educating yourself or your employees as it requires minimal effort and can be done when performing other tasks requiring little concentration. You can listen to them during your drive or bus ride to work or when you’re taking a lunch break at home. A cybersecurity podcast can also be a valuable asset for specific professions, such as journalism. Sometimes, digital traces left behind can threaten the safety and security of journalists and their sources. Lack of knowledge about cybersecurity threats can lead to costly expenses for journalists that can harm their credibility. Understanding the threats makes it easier to prevent data breaches and protect confidential information. Listening to a podcast from a reputable source allows you to learn about a significant cybersecurity story and gives you a head start to train your employees if it happens at your workplace. It is vital to stay updated about new vulnerabilities to protect your company as hackers continuously look for more ways to invade your privacy and perform data breaches. Offer Material Outlining Threats As you educate yourself about the potential threats that could harm your company, offer materials to your employees. All team members need to be aware of the threats to identify them if they occur. Understanding the different types of cybersecurity threats, such as malware, ransomware, and phishing, is the best way to learn how to tackle each of them. You could subscribe to magazines or other outlets that offer updated information or create a comprehensive guide outlining all the threats and ways to deal with them. Although there are many resources available online to allow people to educate themselves, many of your staff members might not have the motivation to search for the right source. They are more likely to view materials if you provide them, especially if you make it mandatory. You could take quizzes at the end of every material to encourage participation and ensure that all your employees are prepared to tackle any cybersecurity threat. Conduct Training Sessions Frequent cybersecurity training sessions are a great way to educate yourself and your employees about cybersecurity threats your company may face, as they can prevent costly mistakes in the long run. Introducing more cybersecurity programs will reduce the risk of data breaches as they will be more knowledgeable in the field and possess the ability to identify the red flags. Cybersecurity training should be mandatory for employees in all departments, even if they don’t frequently use applications that pose security risks. You can further reduce the risk by holding refresher training sessions every few months to ensure that your employees are always aware of emerging threats. Use Vulnerability Testing Tools Some companies offer to crowdsource security services to find your company’s vulnerabilities and report them to your security team. Professional teams use an advanced computer security testing method by mimicking attack paths that hackers may use. This allows them to identify potential threats and inform you before they occur for extra safety. Some types of tools include web application scanners, protocol scanners, and network scanners. Each tool addresses a different location to test vulnerabilities in various areas. It is crucial that you consult an experienced team for this work to achieve realistic answers and prepare your workplace accordingly. Hiring the wrong company can increase your risk of cybersecurity threats and make you more vulnerable in the eyes of hackers. Encourage Awareness with Incentives Whether your employees are working in the office or remotely, it can be helpful to encourage them to be cautious of cybersecurity threats. You can increase their attention span and draw light on the security matter by offering incentives. Positive encouragement is a great way to ensure employees focus on security matters. The incentives can include rewarding them when they complete a training course or if they accurately handle a potential data breach. According to an Incentive Research Foundation study, incentive programs with awards in the form of money or tangible awards can increase performance by an average of 22 percent. You can also offer interactive training sessions that allow employees to engage and enjoy the process. If they have fun during the learning process, they’re more likely to concentrate on the materials. The Importance of Cybersecurity Education Employing different tools and methods to educate your team about cybersecurity threats is vital to keeping your company safe. Encourage your team to actively participate and be ready to tackle any cybersecurity threats as they occur. Offering reliable resources and pointing your team in the right direction will ensure that your company is free of data breaches. Use all the sources and techniques available to secure your hybrid workplace. Updated on Jun 20, 2022, 5:03 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: valuewalkJun 21st, 2022